Will Bitcoin go to $10,000 in 2019?

Bitcoin has hit $10,000 yet again! Haters will say that Bitcoin is down from its highs, and this shows they are frauds. Here’s why.

Traders rush in and out of a position or stock. Investor’s hold assets for the long-term, and regularly buy into these assets. This is known as dollar cost averaging.

Dollar cost averaging Bitcoin

Let’s say a person bought at regular intervals, disciplined.

  • May 12, ’18 – $8,441
  • Sep 12 ’18 – $6,354
  • Jan 12 ’19 – $3,686
  • Apr 12 ’19 – $5,061

Average purchase price – $5,885

Today’s value – $10,400

BTC is up over 70% vs. S&P 15.3%

Cryptocurrency isn’t magic. It isn’t special. It’s an investment, and like every other investment class, certain timeless principles apply.

Investing is a mindset, as is trading.

Traders think they will buy at the lowest point and sell at the highest point. They are speculators, and 99% of them will lose it all.

Investors make intelligent, calculated purchases of assets, realizing you’ll never buy a the lowest or highest point.

To paraphrase Warren Buffett, “It’s far better to buy a wonderful investment at a fair price than a fair investment at a wonderful price.”

Listen to my Bitcoin podcast.

Take your gains.

Once long-terms capital gains rates kicked in, I began selling Bitcoin at $9,000 and continued selling up to $16,000. I sold off 50% of my investment. I’m so far up on Bitcoin that my current holdings could go to zero, and I’d be up far more than if I had invested in the DJIA, Nasdaq, or in real estate.

Bitcoin was a once-in-a-generation investment opportunity for the common man. That’s why when it hit $700, I wanted everyone who read me to buy some. Opportunities like this almost never come up in a lifetime.

Pay your taxes.

I have no idea why people think they’ll get away with tax evasion. Bitcoin gains are taxed like every other investment — either long-term or short-term capital gains.

Yes, these investment principles are covered in Gorilla Mindset, which contains a chapter on money.

If you invested in Bitcoin the way I did, you’re not following the price daily and don’t care about day-to-day fluctuations. You’re focused on its long-term store of value.

Learn timeless principles on money and life in Gorilla Mindset today.

— — —

Mike Cernovich is a journalist, author, and filmmaker.

His Bitcoin wallet is here: 1AUR4tyzDaiAG6inAMgStVX5TyBCLXeFcj

 

Stay updated here:


Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.