BitCoin and trading BitCoin: My Experience so far

The summery: I already lost 60% of my investment; but I learnt a LOT.

I was a little late to jump on the hype train. I got started with BitCoin in January. I knew the price hike in December, 2017 was too much. No stock or product evaluates as a e^x curve. So naturally a correction was due. The first correction came in mid January. I don’t remember the date. Price was below U$10k. So I jumped in. Fast forward 4 months, I’ve already lost most my value.
Here’s the thing I learnt:

  1. BitCoin is not a investment tool. People fail to realize that. In the short run, you are going to loose your value. In the long run, it’s just a gamble.
  2. “Leverage” is not a good thing. Probably you’ll just end up loosing your capital faster this way.
  3. I feel; “I” feel, the market is being manipulated now. I don’t think it’ll be good for the long term philosophy of BitCoin or AltCoins.
  4. Maybe, MAYBE, after July we will get some clues where CryptoCurrencies will survive the long run.
  5. Don’t try to mine. You’re unlikely to make any real money out of it.
  6. Have 2 wallets. One ‘Hot’, other ‘cold’.
  7. If you want to get in the game now, remember, after 2 months, it could all just disappear. OR, survive. Nobody knows. (I’m in it for the philosophy)
  8. Forex market is probably not a good place for guys like me. Not enough time.
  9. I’m still not ditching fiat currency.
  10. I’ll probably look into index funds in future.

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