When Bitcoin was around $20,000, I got sucked into the asset class in classic topping out bubble fashion. I allocated some money into a sundry of ICOs, quickly made 25%, and then proceeded to get BOGGED out for 95% of my principle over the next 12 mos. I never sold — because I suppose I was frozen out of ignorance. It wasn’t a lot of money and paled in comparison to my well performing stock portfolio, so I just adsorbed the losses.
But when I look at asset classes, such as Bitcoin and Ethereum, I must admit to being intrigued. There is a devout core shareholder base in the big cryptos. Forget about the ICOs and the fucking SHITCOINS. If you’re only interested in BTC and ETH — I believe the timing from the crash until now is really interesting for people who want to accumulate over a period of time.
I’ve given up trying to time cryptos and have instead decided to buy ETH once per month for the next 12mos.
It can serve as a valuable asset class for money launderers, plus it has the added attraction of being an alternative investment at a time when real asset prices (stocks, bonds, art, real estate) are at record highs. This trickle down effect is real and even if you’re not a fan of cryptos, you have to admit that the allure of getting in to something in the early stages is interesting. Therefore, and this goes without saying, Le Fly is going to dollar cost average for the next 11 months. My first purchase of ETH was around $235. I’ll keep you appraised of my progress.If you enjoy the content at iBankCoin, please follow us on Twitter