Eight years ago a new worldwide digital currency or cryptocurrency was introduced to the world. Since its inception, what we now call Bitcoin, has polarized the world as it has risen exponentially in value. Think of Bitcoin like the Nike of cryptocurrency, it is the most well known and valuable of the cryptocurrencies. One does not need to look back very far to see how quickly Bitcoin has risen in value. At the top of 2017 Bitcoin was about $1000, By October it was $5,000 and just last week it rose above $20,000 before settling at about $17,000 on Thursday December 7th. But just what exactly is Bitcoin and why so much hype?
The world of investing can be intimidating when first getting started. There have been various strategies, platforms and tools that burst onto the scene to make things easier for the do-it yourself investor. For the long-term investor there is one strategy that can be beneficial to the health of your portfolio. The strategy I’m speaking of is called dollar-cost averaging.
So you have turned on CNBC, opened up your Bloomberg app or just recieved an alert that your favorite stock has taken a big hit. Your heart has now sunk into your stomach and those slight hints of doubt are now beginning to enter your mind. “Why did I buy this stock in the first place?” is the question you begin to ponder. This is familiar territory for anyone who has bought a single share of stock. The question is what should you do next?
How many times have you waited for the perfect moment to do something that you feel you are not ready to do in the present time? This is very common. We as people justify waiting to accomplish certain things in our lives for all kind of reasons. Well guess what...? You are never necessarily ready for anything lives hands you. We merely just fail forward and figure it out, if we are not yet equipped with the know-how to execute specific tasks at a high level.