Today I will share with you some thoughts about bitcoin, as far as investing in it goes.

Many people ask me questions about investing in bitcoin. Should you invest in bitcoin? Do I personally invest in bitcoin? Is it too late to invest in bitcoin? Is bitcoin going to crash soon?

The reason I chose to invest in the stock market, back when I started, is because I knew that business would be around for the long term. I knew I had time, and if I learned how to do it, there was a lot of potential in it, and it was something that was regulated, which made it a safer business.

When you look at bitcoin or many of the other cryptocurrencies out there, they are not really regulated, and it’s not a business that I know and understand well enough, and that’s why I do not invest in cryptocurrencies.

Could I put a small portion of capital in it to see what happens? Yes, I could! but that would be speculation or gambling, not investing.

You need to remember that there are a lot of things that you can invest your money in. There are opportunities everywhere, and you can only capitalize in those opportunities when you have the experience.

There are two ways of making a lot of money. One is looking for a one-time thing that will make you rich. Some people want to do it like that and they are constantly looking for their big opportunity.

This is the lottery mindset, and that is the mindset that a lot of people have right now when it comes to bitcoin, they want to get in it because they want to get rich quick.

The other approach is people who build their skill sets and assets, they educate themselves, they learn to manage risk and reward and they build a strong foundation. And in my opinion, that is the best way of building wealth, instead of looking for a one-time thing that will make you rich. And That’s why I choose not to invest in bitcoin or any other cryptocurrency.

Posted: Posted at: http://tradersfly.com/2017/12/ep-165-investing-bitcoin/

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22 COMMENTS

  1. Coming back to this…your video convinced me to take my money out of bitcoin at the top and allowed me to start a day trading account! Thanks for your thoughts on speculation!

  2. I love your video about Penny stock.
    I am very new to the stock market. You said that you don't trade bitcoin because you don't know anything about it. Fair enough. Then you said that you don't trade rare coins, stamps, gold, etc. Now, I know this might sound stupid, but what is left for you to trade then? Also, based on my logic, not being familiar with a trade doesn't mean that you shouldn't trade. Think about it, when you first got into stuck market, were you familiar with it? Or you challenged yourself to learn about it and not being afraid of it?

  3. Gained an incredible amount of knowledge from this channel….so when I heard intelligent investors like Sasha saying they haven’t done their DD on crypto currency, it instills more confidence in myself that digital assets are still in their infancy…2018 will most likely be a very prosperous year

  4. hey Sasha, you may start learning about cryptocurrencies as soon as possible, investing on them is investing on new technology, plus you can start small, I bet you will investing in cryptos in 2018. btw big fan of you

  5. If I have under 25k and would get hit by the PDT rule, but can make 3 day trades in a 5 day week, And if i make those trade on Monday Tuesday and Wednesday, the following week will I be able to make one day trade that Monday Tuesday and Wednesday because it's been exactly 5 days since those initial trades?

  6. I'm glad you made a video like this. I been in this market for six months, very changeling. But all the skills of volume and price action learn from this channel. Works well, just a lot volatile and stress as you said in the video.

  7. If you didn't understand the physical coins you should have research and learn it instead of just tossing it… I'm sure you didn't understand stock market when you first started it either.

  8. Great video really helped me check myself before getting into that poor lottery mindset. Realy helped me remember that wealth is built from repetition, becoming skilled, and creating a disciplined mind set.

  9. Appreciate the wide view on Bitcoin and investing in general. Very honest appraisal. Obviously cryptocurrencies are not in your wheelhouse but you didn’t come out of this looking a fool like a lot of talking heads tend to do. More respect to you mate.

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