If any of you have read or followed my Crypto investing experiment, I am now almost finishing up the first year.
So how have I done with it?
In two words, Very Well!
So at the end of all that early investing stage, I was in at about $18,000. Today, I have around $35,000.
But...And there's a big BUT!
I pulled out tens of thousands along the way to pay for the barn build project!
Yes! I started out with around $20K, or $18K or somewhere in between, I now have 50%-60% more and I have spent a ton from that account.
I purchased the concrete floor, around $15,000 and financed another $10,000 of odds and ends and equipment purchases.
Although my accounting is not that great, I am up somewhere around a 4X (400%) in a year.
And I have watched the thing pretty closely. Close enough to learn a couple tricks. The market goes up and down in huge ways. Like 50% in just a week, especially to the downside. Then BitCoin and Ethereum will creep back, often at 5% a day, and eventually tickle the all time highs. Then people will cash out, then the sheeple will follow and Bitcoin will have failed again, like it has some 360 times now.
Failed you say? Well the so called experts say so. Safe in there 1.5% per year bonds they will cast stones at the elusive BTC because it does not follow their rules. Government will threaten to control it every few months, while secretly investing in it behind the scenes. Bankers hate it because they have zero control over it. Guys like me love it. It represents my freedom to do what the he!! I want to with no big brother setting the playing field like they have with Gold and Silver.
Here's a simple way to constantly make money.
I'd say $30K will earn you at least that much per annum, but more likely 2X-3X that amount. It is now my base investing strategy amount.
So toss $20K into BitCoin, and $10K into Ethereum. But wait until the market is falling apart, as in on a week long losing streak. You will get in at a value, and in the short term will see your $$$ dwindle to maybe even half. As they say in the New York, "Fa-get about it!" Go get a coffee and call a friend or put some duramax truck back together north of the artic circle.
At some point the market will start to claw back. It will rise up past your $30K. When your money gets to 10% above where you started, pull $1,000 out and put it in temporary savings. When it increases again and hits that 10% or more, pull another $1000 out. At some point it starts to rise rapidly and will tickle the highs like it is right now. Pick a day when you are up and pull $5,000-$10,000 out. Maybe wait for a bit more of a surge and get ready to cash out.
The coin will go up and down in little moves all the time, a result in trading. Then at some point Biden will do something stupid, or a Elon Musk type will declare Dodge coin the new planetary money of mars, and everyone will flood into that and dump BTC. You have to be ready, and when that happens, sell it all, and fast.
I suggest you get a Coinbase account that you can buy/sell from your phone. If you did it correctly you should be up handsomely, maybe 50% or more if the cycle happened in October/November.
Now be patient with your, say $40,000.Watch for a bottom to form. That happens when it stops falling quickly and you see a couple of upticks. When it does that go in with everything and repeat the process. The market is doing this 4,5,6 times a year lately. So you have that many opportunities to make the big cash.
I am just a dumb old warrant officer pilot, and I managed to take $20,000, buy the biggest part of a $50,000 barn and end up with $35,000. What can you do?
