The $ky is Falling! The $ky is Falling!
The markets are down today
So the markets are way down today on worries of inflation. To be more precise, it’s over the worries of what the Federal Reserve will do about it… Raise interest rates to cool the market and inflation. Of course while it’s healthier to cool inflation (which is always there) and allow a recession, people don’t react well to it.
So Bitcoin and crypto is kinda doing what it has been doing, which is reacting MORE than the stock market. So what I’ve done is buy a little more Philcoin because it’s back towards it’s low and is something I believe will work out in the long run. Here’s how you do that.
<- How to buy Philcoin
Now this isn’t all about Philcoin. Again, I plan on slowly buying Bitcoin and things (mainly/almost exclusively big coins). I suspect they will weather the storms best, but hey, keep your eyes out for new things. But I think we’re in for a year or some of stormy weather. Honestly, I’m just saying over the next year, the year will be rocky. Beyond that, who knows, but historically (like for the entire existence of the stock market of any country) it goes up in the end. So you’re either an investor or a trader if you are in stocks.
I'm an "Investor"*
I’m an investor. NOT a certified one. I’m talking about philosophically.
I don’t trade any more. I don’t do short term. Even a few weeks ago when I bought Philcoin at $0.13 and it went up to $0.26, I held it. Now I figured it would hit $0.13 again, but I held because I want to keep buying. I could have sold for double the price (like a trader) but instead I held for the long term (an investor).
So I’m ONLY looking at things from the perspective of long term profitability. Like 10+ years.
So this could be like the 40’s, like some financial analysts say, in which case it’s a decade of pain (maybe) with a big bump in the middle. The key point in my mind is, buy as the prices are going down. Whether they go up in a year, a few years or a decade, buy on the lows and hold on the highs and hang in there. If you’re like me (I’m in my 30’s) you have a few decades left and you won’t always have good buying opportunities like this. They may only come along every 20 years or so.
DON’T go overboard though. I also invest in stocks and my own business. I’m pretty well spread out.
P.S.
An analyst I follow stated Bitcoin could very well dip to $8,000, but he’s not a crypto specialist and I don’t know how much though he put into it. So that may be a bottom limit, or an extreme, but keep in mind, it will probably go lower so what I’m going to do is maybe buy a tiny bit, and if it goes up right now, I’ll just wait.
THIS IS NOT financial advice. I’m just telling you what’s on my mind and what I’m doing or planning to do in some cases. Go do some research and make some good decisions 🙂
