I keep telling everyone that the Bitcoin market moves 10x as fast as the stock market. I'm not going give numbers of my stock investments versus my Bitcoin investments, but you can probably guess that it's severely lopsided in favor of one. But getting back to Bitcoin, and cryptos in general...
- They are high risk, which is something young investors are encouraged to do. Diversifying, while good practice later on, is a complete waste of time early on. Unless you want to work the 40 hour weeks until you turn 65. Make money first, then diversify to protect it.
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They are a crash course on Technical Analysis. I've learned so much on TA through analyzing/trading Bitcoin, and even trying to trade alternative cryptocurrencies against Bitcoin. And I now have a knack for being right more often than I'm wrong, because I'm naturally good with patterns, and there really is something to Fractal Market Analysis. Before I got involved with crypto currency, I tried learning about TA through stock trading. I failed miserably because I didn't have the patience to wait a week or a month for a pattern or indicator to show up, and then wait just as long for the result.
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Speaking of trading, the fees are minimal. Paying $5-$7 going in and out of positions in stocks is stupid. When in crypto, it's like 0.25%. You can't take $1000 in stocks, and try and slowly work your way up, without being penalized so heavily on trading fees. Whereas in crypto, it's totally doable.
It's almost so millennial of me - but unless I've already got a million dollars, I can't wait on "2x" gains to take 7 years.
Submitted May 28, 2017 at 01:20PM by blkblade http://ift.tt/2qpxOwA
