I've always been watching bitcoin since mid-2013 up to now, and the market/bubble is painfully toxic. I'm not a big investor or economist, and I probably still only have superficial knowledge on how the entire blockchain systems work.
I just patiently watch the graph, and keep telling myself not to invest because everyone tells me it's a giant bubble that will someday pop. Recently, I started to run a few side businesses dealing in Bitcoin as payment methods, but I've never stored it long term and always converted it to cash.
I remember back in 2014 when I first thought of investing in Bitcoin as a long-term investment, and obviously was pressured out of it because everyone kept thinking it was a bubble that was about to burst. I'm starting to think about it again now that Bitcoin is starting to crash - and generally speaking in the past it's done quite well after crashes, recovering and increasing every once in a while.
What do you guys think? Is it worth it to give it a try? This would be my second crypto investment, and I'd be throwing in $5-10,000 at most. Any ideas?
Well with all responsibility I tell you that it is the ideal time to invest, because the story is practically repeated under different circumstances, with speculators and with different market capitalization, but it coincides both in 2014 and right now in 2019 to be in the accumulation phase, demonstrable under the Wyckoff philosophy, where it is not known until when it will be the end, but there is something that is certain, that bitcoin will at some point become a bullish trend.