Bitcoin? by WJ Vincent II
What is Going On With Bitcoin?
Okay, so first of all, let us be clear….here at TriplePLife we are NOT offering financial advice about whether or not you should purchase Bitcoin. We regularly teach strategies and techniques followed by wealthy people for years in order to help you to Accelerate Your Prosperity, but by no means when it comes to individual shares, stocks, investments, etc., do we offer up any guarantees, or even strong recommendations officially as a company. Us sharing with you some of our own personal investments does not mean that you should invest necessarily. Individual risk tolerances, calculations based on your wealth, retirement window, adjustments for the level of lifestyle, cashflow, etc., are too numerous and varied for there to be any one simple yes or no answer. So, now that we got that out of the way….What is going on with Bitcoin?
Just a short time ago the cryptocurrency was trading at just over $5,000…..$5,145.89 on March 17th of 2020 to be exact. In December you could have gotten it for a little over $19,000 still and as of the moment I am writing this article…it is trading at $44,784 having just hit an All Time High of $47,674 just 2 days ago.
Can we say “volatile” would be a good description of this cryptocurrency? The stock hit its all-time high due to the information coming out that Elon Musk and Tesla had purchased over 1.5 Billion of Bitcoin in January, and have plans to begin accepting it as a form of payment. This was followed by news that MasterCard has plans to begin allowing Bitcoin to be used in conjunction with its services in the near future.
These are two big news moving events that resulted in a strong upswing for the currency. Most experts that study cryptocurrency believe the long-term outlook for Bitcoin is bullish (meaning to the upside) with some aggressive predictions saying one day it could reach 1 Million dollars per coin in value.
What Will Happen With Bitcoin?
It is very realistic to believe that Bitcoin and other cryptocurrency coins are here to stay. You can do a little bit of research and see that unless governments around the world unite to stop it, and even then, currencies like Bitcoin are theoretically protected regardless…this type of payment, asset, or coin if you will, is only going to become more mainstream. Due to a variety of factors, including market manipulation, currency manipulation, unscrupulous short sellers, corporate investors, and various other manipulations both macro and micro economic in nature, the price will most likely remain volatile. People like Dr. Jay have some of this in their portfolio, and continue to study and watch different market factors, but this is a long-term investment. Contrary to what you might read or see, especially with 800% growth in less than a year, investing to “get rich quick” is almost never a good idea. All investments come with a certain amount of risk, and we must maintain vigilance as to how risk changes based on what is happening with the world, country, and local economies day to day, week to week, and year to year.
Be prepared for rollercoaster pricing for some time to come, and don’t put money into something like Bitcoin, unless you can afford to lose some or possibly most of it in the short-term. Long-term it looks like a solid opportunity, but once again, none of us can predict the future, and while it seems having some cryptocurrency in your long-term investment portfolio would be a good idea, no financial returns in the world can compare to the ones that we get from investing in ourselves. There is no single better investment any of us can make than developing our Success Mindset. 800% in less than a year may seem like an amazing return, but investing in your own personal growth and self-development provides returns far greater than just financial, and some would say the rewards can often be “infinite”! Hope all of you are improving your Fitness, Finances, Family…and Fun for this year…and a lifetime!
Here’s to Empowering your dreams, Igniting Your Passion, and Accelerating Your Prosperity!
WJ Vincent II
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