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Title: Idea to invest into cryptocurrenices. Is this a good idea? Post by: Jamzymc on June 14, 2017, 04:23:44 PM I missed the train for both bitcoin and etherum. I accept that but i intend to be one of the first on the next one and here's my idea going forward. I intend to invest small 1000 pounds into both etherium and bitcoin 500 pounds into each wallet. I intend to just hoard this and keep it in my wallet while I study the other competitors for a few months. hoping that in the time I'm studyint I will be making more bitcoin and etherum so I have more to invest in the other cryptocurrenices. I plan to find a top 5 currencies I think are worth an investment and invest 1 pounds worth of bitcoin and etherum into them every 2 days. I also plan to have a currency which I consider to be a gamble or an outside chance of becoming big which I will invest 50 cents into once every 2 days. I think I have already decided this to be Navcoin. Whilst I am doing this I will also make a savings jar labelled the bitcoin or etherum crash fund. I will save 80 pounds per week into this jar in the hopes of a catastrophic crash on either of them which I can then use to buy coins while the price is low and wait patiently for the price to rise again. Is This an ok idea? Can I tweak it? Any suggestions would be greatly appreciated.
Title: Re: Plan to invest into cryptocurrenices. Is this a good plan? Post by: ebliever on June 14, 2017, 04:34:50 PM Overall I think you have a good plan:
1. Taking the time to study your picks while keeping funds in the market leaders. 2. Keeping a reserve to buy on dips. 3. Do I understand you to say you will be cost averaging by continuing to make periodic purchases of BTC/ETH? Things to keep in mind: 1. Although it is not automatic that history will repeat, it's possible that we may have a big crash at some point followed by 2-3 years of recovery. Are you prepared to HODL? 2. You should be familiar with the scaling debate and the uncertainty around early August with BIP148 and now Bitmain's MAHF (they call it UAHF, LOL) threatening to split Bitcoin. Title: Re: Idea to invest into cryptocurrenices. Is this a good idea? Post by: BrewMaster on June 14, 2017, 04:37:37 PM as for bitcoin i suggest waiting a little bit to see what the current trend is headed to because it seems like we are going to see some more dips which started today again!
and as for ethereum i would think twice before investing in it at this point. read this https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36 it has some good points. |