I am a Bitcoin enthusiast, I am not a financial advisor, analyst or trader and my opinions are not to be interpreted as investment advice. I only share my experience and my observations of the Bitcoin market.
What does HODL mean? Wikipedia defines it as follows:
Firstly if I had to choose between having Bitcoin and not having, I would definitely choose to have!
The reason why I am writing this article is that I observe many people who have bought Bitcoin and are holding what they have in the hope of it reaching some significant amount. At that point, they will cash in their Bitcoin and suddenly be an overnight millionaire. If this is what you think – a better strategy may be to buy a Lottery ticket, I hear the jackpot is rather big at the moment.
Having Bitcoin is a great way to protect yourself against the coming global recession, however, you need to ask yourself what if the price of Bitcoin never moves beyond the current zone of $9000 – $12000? Then, although you have something that can protect you from the recession, you certainly will never reach your goal of being a millionaire due to the predicted parabolic rise in the price of Bitcoin. As you will read in my previous article My Outlook on Bitcoin in 2019 I am extremely bullish about Bitcoin, but what if the pundits and my opinion are wrong?
HODLing is a great strategy if you have a huge investment portfolio and you can diversify your portfolio with the likes of Bitcoin, but what if you are the average person, just like me, who wants a better future and like everyone else you are wanting your money to work for you?
What is my strategy and what do I do daily to ensure I have a better future?
I never forget the saying I learnt very early in life ‘The poor work for money and the rich make money work for them’ and it’s this mindset that I strive for.
I don’t just want to hold the amount of Bitcoin I have, I want my Bitcoin to grow so that I will have more to enable my financial freedom in the future, and if I am correct with my predictions then my smile will be bigger than I anticipated.
I am a member of Mirror Trading International and my Bitcoin is currently growing at more than 30% monthly, and even if I receive less than that monthly, my Bitcoin will still be growing.
The currency Mirror Trading International uses for trading is Bitcoin, and this is the true win-win opportunity for me, not only am I growing my Bitcoin daily but I will also benefit from the rise in the price of Bitcoin. My smile would certainly be broadened further if the rise is parabolic.
How much Bitcoin do you have? Are you HODLing or are you still considering if you should get into Bitcoin?