Small Battles Win the War
I'm probably repeating myself a lot, but I find something very important to realize, adapt, and react BEFORE it's too late... I think that that's called to be PROACTIVE...
I remember one specific moment which happened this year in March-April when all this virus thing began... I have a friend in Germany, who isn't aware of cryptocurrencies, but he knew that I work with them for a couple of years... Well, he called me in those moments and asked me what are the good options to secure wealth, as in those moments money printing was going in 24/7 (which is probably happening all the time, but they don't talk about it)...
My friend isn't a millionaire, but still, he wanted to "secure the value" that he had in those moments... As I was in a similar situation as he, I had the same dilemma... which way to go... I was thinking about two options that were (and still are) available at that moment, buying gold or buying cryptocurrency...
I have suggested him to go half of his money in both options, and diversify his risk... Also, I have explained to him the risks of investing in crypto and volatility, but also telling that at THAT moment, crypto is heavily undervalued and that he should go into it... Also, important thing is that investing in gold (not large amounts) is more like a "wealth protection" thing, and investing in crypto is more like an investment... that has risks to go down, but also the possibility of large gains...
As for him, investing in crypto was "too complicated" and he was searching for a mode to ONLY "protect" his wealth, he went with 100% gold purchase... At those moments, I did buy a small gold bar just to "test the water", but I went on a "buying spree" of Bitcoin... I have started when its price was around 6K, and I finished my investing when it went to 9-10K... Of course, I had some crypto portfolio from before, but at THAT specific moment, I felt "forced" to go into crypto to protect my finances...
Well, this is a kind of thank you post for this virus crisis as if there were no money printing, I probably wouldn't invest more fiat money in crypto...
Similar things are happening at these very moments... The crisis didn't finish, and I would say that we are at the beginning, or even BEFORE the beginning, and it is still not too late to make some PROACTIVE moves to protect yourself from different scenarios that can (and probably will) come in a very near future...
Turn off your television, go outside for a walk and observe... Observe buildings, shops, people... You don't have to start a conversation with anyone, just observing things and surrounding with your own eyes will help you a lot to sort your mind and think about your next move...
...any action is better than no action...
Thank you for your valuable time,
ph
Music in video: Growing Up by Scott Buckley https://soundcloud.com/scottbuckley Creative Commons — Attribution 3.0 Unported — CC BY 3.0
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