CEDAR GROVE, NJ – 23 Oct, 2017 – Bitcoin was only $13 in 2013 and just hit a high of $6100 in Oct 2017! Bitcoin is the ultimate example of financial fomo (fear of missing out). I am sure investors of Bitcoin have said boy I wish I bought in at $13, but most didn’t, then when it hit $130 more said boy I wish I got in at that price, but they didn’t, then when Bitcoin hit $1300 they said man I wish I had bought some Bitcoins at this price. These same potential Bitcoin investors sitting on the sidelines are going to say boy I wish I bought Bitcoin before the price possibly hits $13,000 in a few months and maybe even $130,000 in a few years.
The main thing to remember with Bitcoin is the maximum number of 21 million coins that can be mined and produced. The number can’t be increased like corporate stocks can. Companies are constantly issuing new shares thus diluting their current shares. Bitcoin is different, it has a finite number of coins which can be mined and thus sold. Bitcoin in reality is many times more rare then gold & diamonds. Presently 1 Bitcoin sells for almost 5x the price of an ounce of gold. Some people predict in a few months Bitcoin will sell for 10x – 20x the price of an ounce of gold, and if it does then Bitcoin will be selling at $12,500 to $25,000 each.
The second thing for potential investors to remember is don’t let the current seemingly high $6000 price scare you from investing. Months from now you may look back and realize $6000 was actually a bargain. Some experts suggest that even if you can’t afford to buy a whole Bitcoin you can always buy a fraction of a Bitcoin. Buying .1 of a Bitcoin will only cost you about $600 and could possibly be worth $6000 or $60,000 in the future.
Remember only buy with what you can afford to totally lose. Most people should invest no more than 5% – 10% of their savings in a high risk investment like Bitcoin. Many so-called financial gurus think Bitcoin is a bubble that will inevitably burst, and burst it may but it could hit $50k $100k or $1mil before it does and thus produce many cryptocurrency millionaires in the process.
Years ago gold & silver prospecting and mining used to take shovels and getting your hands dirty, today cryptocurrency prospecting and mining can be done with a desktop computer, laptop or a smartphone.
Or visit www.CoinBase.com to conveniently purchase your first cryptocurrency such as Bitcoin, Ethereum or Litecoin.
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