YES! We have Excellent EXCELLENT bullish run for bitcoin this month and last month!
I wrote about bitcoin last year march.
Recalling a picture from that post:
A year later now…
New high again today.
Yes, I have amassed quite a fortune in investing in bitcoin from 1 year ago. 🙂 🙂 🙂
It is easy to see that i have multiplied my investments 6.8 times. I have sold some and am still holding on to my position from a year ago.
What is the strategy for bitcoin investing in 2017?
I would think that buying bitcoin at its high now does have its risks. For e.g. it can drop tomorrow again and you have to hold it until your hit your desired target. The safe option would be to buy it in an amount that is not saved for rainy days.
So the keyword is to DIVERSIFY your bitcoins in short and long term.
I have bitcoins in an amount that is for short term profits – meaning buying when bitcoin prices dip and selling when it hit my profit %.
And for my long-term bitcoins investing strategy, i lent out my bitcoin at poloniex when the bitcoin prices are UP. The reason is that people borrow bitcoins for trade margin at poloniex. And the daily interest rate recently on average is 0.1%. Excluding the compounding, the annual principle rate works up to *drum roll drum roll* 0.36% !
This means that if you lent out 1 bitcoin at poloniex at 0.1% daily interest rate, in 1 year’s time, you would get neat profits of 0.36 bitcoin. And that is excluding the compounding.
The down side is you have to pay 0.15% fee of the earned interest to poloniex. But that’s actually not a lot when compared to the amount you are actually making daily and compounding might help to offset the fees.
And relatively passive income, other than logging in and a few clicks here and there.
In other words, let it roll, let it roll. *sing*
IMPORTANT: I am merely sharing my experience. I am not a professional investing expert. Do your own research!
Alternate coins ICO
June is also a month full of new alternate coins ICO. I will soon research and talk about each project in this blog here.
Do watch out this space!
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