Bitcoin 2019 and Beyond

Screenshot 2019-11-21 at 17.52.28I am a Bitcoin enthusiast and many people ask me what the Bitcoin price will be doing in the next 2 months, the next 6 months and the next 12 months. The exact answer is no one knows, but I will share my perspective with you, which is not financial advice in any way.

Why has the price not gone up to new highs this year? That is a relatively simple answer, because the guys with a lot of money wanted to teach you the greatest lesson you can learn in investing, and that is patience. If you believed the hype (and to a certain extent most of us would have liked to believe it) then you too could have imagined the Bitcoin price rising to $16000 or even $25000, to a new all time high. Of course that would not have been a lesson in patience. Everyone would be scrambling to see where they can buy Bitcoin making sure they don’t lose out. No, instead those who bought at $14000 have given up and the vast majority of them have sold at a loss.

Patience and being able to hold onto what you have is the skill needed when it comes to investing. Overall from the beginning of 2019 and the lows of February till now, even with the current price drop, the gain is still over 120% for the year. Bitcoin out-performs all the other assets so don’t believe all the negatively that the press constantly puts out.

What will price price do in the next 2 months? Again no one is sure but we may see a price movement down to the lower $6000’s before we see a rise to levels sub $10000 in the early new year.

In the next 6 months – due to the halvening of the Bitcoin mining block reward we could see prices around the $10000 to $14000 levels, but in my opinion there will not be any significant moves in the next 6 months.

It is more likely that some movement may happen in the next 12-24 Months and prices may then reach new all time highs.

Do I worry if the Bitcoin price never goes above $10000 again? Fortunately I have invested my Bitcoin with Mirror Trading International and the objective of the company is to grow my Bitcoin. This is done by using Bitcoin as the base currency, therefore all profits are accrued to my trading account in Bitcoin. When the price of Bitcoin rises so does the value of my asset, which is growing daily.

Currently the results from the trading with Mirror Trading International average around 0,5% per day and with compounding of my interest it could result in a doubling of my asset base (the amount of Bitcoin I have) in 6 to 7 months. Remember historical results are not an indication of future results.

If you would like to find out more, please do not hesitate to contact me directly.


About RichSimmondsZA

Retired but still Disruptive
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