This Crypto thing is like no investment I have ever had. Starting with my experimental/virtual investment of around $20,000, I have could have spent tens of thousands from that account and still have nearly $40K remaining
How you ask?
Crypto is not static, nor linear. It doesn't creep up in a predictable manner. Instead it falls off the cliff several thousand feet, only to catch a strong updraft near the bottom and in no time is soaring in the stratosphere. A disciplined investor can wait till an almost crash then get in and wait. Cash out at some predetermined point, then wait for the next cycle.
Case in point is this one: SHIBA INU SHIB
In one month it is up 908%
So I see it being offered on Coinbase as a new item maybe ten days or so ago. So I could push a few buttons and I purchase $100 of the stuff which would have netted me $97 of SHIB. nearly 3% was the fees to purchase (How Coinbase makes its coin.)
Why did I make this virtual buy? Well it was a new offering, kind of like a stock at its IPO, it has the possibility of going ballistic. And why did I only buy a paltry $100? Well if I had purchased $100 of Bitcoin when it was first offered, I could give each one of you $100,000,000 and still have a few billion left over for pocket change.
So I go in and look at it the other night when it was perhaps a week old. I calculated my theoretical account to be worth $267! Apparently it had risen 79% in just the prior 12 hours. It is almost at 300% increase as of this morning, so I could pull out the $100 and allow the other $180 or so do its thing. Simple, easy, and not a lot of thinking involved.
And, the thing is almost all of them see a sharp early rise. That and these cryptos are showing up daily to weekly with something like 5,000 that currently exist.
The biggest trick is to stay ahead of the sheep, the stupid people who come in like a herd and trample everything just because their BFF told them to buy in. I suppose in a way, they fuel the profits most of us make because they don't know when to get out nor manage, well, nothing actually from what I see.
The funny thing is, I had about $40,000 just show up that I wasn't expecting. I thought of tossing it all into a real purchase and wait a week or a month then pull it out. Had I done that I could have pulled my $40K out and had almost $80k remaining!!!!!!
FYI...
