Sunday, December 1, 2013

Bitcoin price crash - don't sell - buy more.

In the last few hours bitcoins took quite a hit. I have seen many unhappy people on twitter who are aghast that the price is actually dropping and are panic selling.

Firstly bitcoins are an inherently risky investment - if you can't keep your cool or can't afford to lose your money. You probably shouldn't be involved in bitcoins.

Secondly, this is a perfect opportunity to acquire some more. If you invest regularly in smaller amounts of bitcoins - you can smooth out these wild market fluctuations using a simple principle called - pound cost averaging.

The way I see it is that when it comes to bitcoins - they either will become huge or they will go the way of all previous e-currencies -For example I never did manage to spend my Beenz.

Bitcoin just has a better chance than any that came before as it is decentralized and appears for the moment to be secure.

So if like me you are in this for the long haul. Hold tight and maybe increase your holding.

If you are attempting to make a quick buck - or play the markets day trading. Good luck - but I think you are likely to give yourself a coronary.

If you would like to know more about bitcoins - and maybe even get some free ones. Check out this site where you can find out more.

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