Is It Too Late to Buy Bitcoin (Or Any Other Crypto)?

Is It Too Late to Buy Bitcoin (Or Any Other Crypto)?

Disclaimer: This article does NOT provide financial advice. It is purely for educational purpose only. Please practise due diligence before getting started with trading crypto and always manage risk sensibly.

There has been lots of buzz lately about crypto. Bitcoin broke past $20,000, reached $40,000, and dropped back to the $30,000s again. Ethereum also broke the $1,400 barrier. And also hovered around the $1,300s.

National banks opening crypto exchanges. Institutions getting into the crypto market, and buying crypto.

So much has happened. And still happening. And throughout it all, I have many people, including my students, asking me – Is It Too Late to Buy Bitcoin (or any other crypto)?

Is It Too Late to Buy Bitcoin (Or Any Other Crypto)? – The Video

So, is it really too late to buy Bitcoin (or any other crypto)? I published a video discussing this topic. If you prefer to watch a video first before reading this article, then click on the play button below.

I hope you enjoy watching the video. And please remember to subscribe to the channel as well as like the video, too!

I first learned about bitcoin when it first appeared on the scene. But I did not think much of it back then. Mostly, it was because I never took the time to understand it.

Over the years, I have changed my mindset. I have since learned to be more open to opportunities. To explore them, and discover if they are real opportunities.

And if they are, I pursue them. If not, then it is ok. I simply put them aside, and moved on. Sometimes, the timing is not now but later. Just like in my case for crypto.

Lately, I was reintroduced to crypto by a friend. Now, with a more open mind, I explored it. And learned more about it.

There is a lot to learn. And because the crypto world if fast changing, I find myself still learning much about the crypto world.

Research and Learn About Crypto

Bitcoin and all the other crypto are not easy to understand. And because of that, some people do not get it. They do not understand it. And as such, they dismiss it. Some are even convinced it is a scam.

But it is so much better to do your research. To learn more about it. And then you make an informed decision about it.

For example, here are some facts about Bitcoin:

  • There are 21 million coins in existence
  • It is not possible to create more coins
  • This is a digital coin, a digital form of currency, it is a way to store value
  • Coins are safe, especially when you take them off the Internet
  • Crypto is based on blockchain, which is a very safe and secure technology
  • Crypto is a hedge
  • Crypto can be an investment for an unknown and distant future
Cryptocurrencies such as Bitcoin, Ethereum and LINK
Cryptocurrencies such as Bitcoin, Ethereum and LINK

Also, consider the fact that businesses like Uber and Grab have disrupted the taxi market. Airbnb has disrupted the hospitality market. Amazon and Alibaba disrupted the retail market.

Could cryptocurrencies disrupt the financial markets? Do your research to find out.

Why Is There a ‘Too Late’ Mindset?

As mentioned, there are people who ask me if it is too late to buy crypto? To me, this question could arise because they have seen crypto like Bitcoin rise in value. And they know the price was much lower before. And they wished they had bought it then.

Don’t we all wish that too? I know I do too.

But instead of wishing what might had been, I decided to move forward. And I took action.

So, I eventually bought crypto. To me, instead of dwelling on what might have been, I decided to see the potential of crypto. And buy now before it gets even higher.

Buy Low, Sell High

I know many people heard of the saying – Buy Low, Sell High. So, those who have the too late mindset may be thinking that right now crypto prices are pretty high. They could be wondering – What if this is the high? What if the prices start to fall and there is a low? Why not wait and buy then?

But how about this?

What if the prices now are the new low? What if it goes higher and never drops below the current value now? Are you going to wait till it gets even higher and still ask the question – Is It Too Late to Buy Crypto?

So, Is It Too Late to Buy Bitcoin?

Ask yourself this – Is it too late to buy Apple stocks? When the economy is crashing, it is the right time, right? When economy booms, also right time right?

It is the same for crypto. When the price is high, it is the right time. When the price is low, also the right time. As you can see, it is never too late

“the best time to buy [Bitcoin] is always yesterday.” – Rubix Chief Executive, Andrew Hamilton told Finance Magnates

#bitcoin #BTC #cryptocurrency #cryptocurrencies

You are always right on time. And it is the right time especially when you have the right strategy. Plus using Dollar Cost Averaging.

Buying Crypto Strategy

Like everything, it is best to have a plan and strategy. It is the same with buying and selling crypto. What is this strategy? It is up to you.

But I can give you an example. For example, you can allocate 1% of your funds to crypto, for example bitcoin. If you have $10,000 in savings, then that will be $100 purchase of bitcoin. Of course, if you have a strong financial standing, you can have a more aggressive strategy.

But 1% can be a good start, and it is not that difficult to do. Also, as with all investments, make sure this is money you can part with.

And again, I say this – do remember to do your due diligence. Do your research. Do you analysis. Find out more. Then make your own informed decision.

It is also best to have a long term strategy. See the superb long term potential of crypto. Make your crypto as your long term asset. And use the Dollar Cost Averaging tactic.

What is Dollar Cost Averaging?

I understand your fears. I have them too. And I learned this investing approach that helped me. And can help you.

Have you heard of Raoul Pal? He is one of the iconic hedge fund managers. He uses Dollar Cost Average for investing. He buys crypto in regular chunks at regular intervals. This is Dollar Cost Averaging. And a very fine way to build wealth.

What you do is first, decide on your investment goal. And that is how much crypto, for example bitcoin, you plan to have eventually. Then decide on how much crypto (for example, Bitcoin) you intend to buy every month, for example, $100.

Then in the 1st month, you buy $100 bitcoin. This is done no matter what the price is at that time, It could even be an all time high.

Then in the 2nd month, you invest again another $100 for bitcoin. Let us say the price has dropped to an all time low.

The 3rd month, you again buy $100 bitcoin. And the price has gone up a little.

In the following months, just keep investing $100 every month until you reach your desired investment goal. For example, you plan your crypto investment goal is 1% of all your money.

So, as you can see, some months the price of the crypto will be high. Some months, it will be low. Over the years, the value averages out. Multiple studies have shown that Dollar Cost Averaging can provide a return on investment. This way, you get into crypto without stress.

Keep Calm and Buy Crypto

Investing and trading require research, knowledge and skills. You must have to practice a lot, know your craft, and have the best tools. It also takes lots of time and effort. And most importantly, and don’t be FOMO. FOMO stands for Fear of Missing Out.

FOMO kills. And, as a rule – if you feel FOMO? Do not get involved in crypto!

Is It Too Late to Buy Bitcoin (Or Any Other Crypto)?

Timotheus Final Word
for Passive Online Revenue

Crypto is a paradigm shift. When buying crypto, it is best to not buy based on speculation. It is better to invest long term. And use the Dollar Cost Averaging tactic.

So, to answer the question – Is it too late to buy crypto? The answer is – the best time to buy it is when you decide to.

It does not matter when you buy it.

What matters is that you do it eventually.

If you have ANY questions about – Is It Too Late to Buy Bitcoin (Or Any Other Crypto)? – ANY at all, please submit your questions as comments below. I will be happy to help out.

Thank you for reading this.

Best Wishes to All!
i look forward to your success

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