Beating Buffett Series
See what I said?
So what when it fell $200 to dip below $500 within 48 hours? No big deal. It jumped back $100 in the following day amid a buying frenzy and had gone sideways but gradually climbing up towards $600, the short term equilibrium that I had mentioned.
However do not kid yourself that the technology is in its maturity stage and the dust is going to settle at this stage. Although uptrend is to be expected in the longer term, drastic movements might go either way just when everyone thinks it had reach a stage of stability.
My advice? Have a balance of fiat and bitcoins in hand and win either way when your equilibrium is reached. I know this is not the most profitable way of trading but I have always advised against short term speculation anyway. Yes, I am anti gambling, just in case you did not realise.
Speculators are concerned about profits and losses.
Investors are concerned about growth in total value of their portfolios.
