My Take On Bitcoin Now
A few weeks ago I posted this blog post called “My New $6,000 aka One Bitcoin Giveaway” while I was introducing my friend Teeka’s cryptocurrency newsletter (which is now closed to new subscribers) before Bitcoin more than tripled to nearly 20,000 over the next month!
Download the key points of this post as PDF.
Unsurprisingly, there was lots of feedback, both good and bad, related to that post, as Bitcoin is VERY controversial, but as I mentioned, Bitcoin more than tripled in just a few weeks so everyone who took it seriously did very well…those who signed up with Teeka are raving, since he was 100% dead on with the quick short-term potential and because he and his subscribers made so much money, he actually closed his newsletter to new subscribers, since he has his hands full with his current students and wants to reward them with his focus.
As Bitcoin is not as simple as some newbies thought it was, despite the big runup this year, Bitcoin has dropped 30% off its highs now in just a few days, so you must be EXTRA careful with who you learn from in this niche…as I tweeted this morning:
SO nice to see $BTC Bitcoin finally crash, newbies freaking out realizing they’re not as smart as they thought, veterans reminded that past patterns ARE indicatives of future ones too
— Timothy Sykes (@timothysykes) December 22, 2017
I can’t tell you how many newbies I know who thought they could just buy and buy and buy with no corrections whatsoever while EVERY veteran trader I know has been taking some or even all of their holdings off the table and locking in profits…I’m disgusted by several emails I got yesterday and today from people who have learned from newbies who have only been trading for 1-2 years and don’t have the experience or knowledge to teach, especially teach and comment about such a fast-moving new asset class where if you’re off by 1-2 days, you can lose 30-50% of your money like that.
That’s why I’m so excited to introduce you to my multi-millionaire friend James here as he’s been trading for DECADES, not just 1-2 years, so his commentary is based upon on everlasting lessons he’s learned the hard way as that’s how he’s made tens of millions of dollars over the years.
Please do not listen to ANYONE who has only been trading a few months or 1-2 years, no matter how great they say they are and actually believe it too as newbies are not humble and that’s what leads tot heir inevitable downfall when the market corrects and helps teach them that they’re not as a smart as they thought they were…instead listen to multi-decade trading veterans like this who focus on safety and risk-management FIRST and not just going for home runs which is a surefire way to lose most or all of any profits you have over time.
And despite all the controversy, Bitcoin has been the single hottest asset class in 2017 so I’ve never seen such ta WIDE variety of opinions on it with many people thinking it’s the future of currency and just as many people thinking it’s overvalued, or a scam with the most number of people simply being very confused and staying away…and to everyone who asks me where I stand I say take it one trade, one day and one week at a time, stop trying to think you can make 5-10 year predictions in an industry like this as that’s a complete 50/50 coin flip and you can make a ton of money in the meantime simply riding the Bitcoin and related-cryptocurrency volatility long before ANYONE declared Bitcoin now to be everlasting or a complete failure.
The one thing I do see happening with Bitcoin is that it’s VERY similar to penny stocks, which are also hated upon and yet they are having a fantastic 2017 so don’t you dare let any mainstream hate or negativity distract you from at least taking a look at this fast-growing niche and learning from multi-millionaires like this who can help speed up your learning curve, just as he’s helped me speed up my Bitcoin learning curve too.
Ah yes, that’s right, I might be a master penny stock trader, but I will ALWAYS ask for help from people I know who have made it in other industries and sectors as their wisdom and experience is priceless…so if anyone asks me my take on Bitcoin now, I’ll point you right here as this is the guy I myself am learning from and enjoying every second of it too as I apply his lessons to Bitcoin-related penny stock trading which I highly encourage you do too even if you don’t want to trade Bitcoin specifically!