Bitcoin $26000

CBC Contributor
Bitcoin $26000

The Bitcoin bull market continues with the price topping AUD$26,000 today!

Since reassessing Bitcoin on this site a few months ago, it has nearly doubled in price. That's delivered windfall returns for those who chose to purchase.

Like all speculative investments, managing risk and reward is the key to sleeping well at night. You don't spend your gains until they are banked and provisions have been made for tax!

Bitcoin could rise by multiples from the current price but it could also give up all the recent gains. The safest way to play a volatile market like Bitcoin is to dollar cost average into the asset.

That means you purchase a dollar amount every month/quarter regardless of the price. You should only commit to a regular amount of money that won't ever put you under any financial stress.

That could be $10 or $50 or $500 or more. It will depend entirely on your personal circumstances. They key is to make the commitment and be prepared to hang on for the ride.

This is also one of the exciting developments in the crypto space. You can purchase very small amounts without incurring excessive costs allowing your investments to be tailored to your financial needs.

The people at EasyCrypto also have a regular order facility available.

The price volatility means being prepared for big swings up and down!

Crypto guru Anthony Pompliano wrote this in his recent newsletter.

Bitcoin will benefit from the fear of high inflation, regardless of whether it actually occurs or not. When people think high levels of inflation are coming, they will move their capital to be positioned in inflation-hedge assets. If the inflation comes, great. If the inflation never happens, the capital flows will drive asset prices higher anyways. This concept is counter-intuitive, but we have seen it play out numerous times in the past.

With every indication that the money printing is set to continue no matter who becomes US President it seems that the smart money is positioning themselves to prepare for inflation.

That probably explains some of the surge in interest in Bitcoin.

As always, do your own research and consider your own personal needs before making any financial decisions.

If you decide to have a go, we recommend the team at EasyCrypto.



Join the conversation.

Great! Check your inbox and click the link
Great! Next, complete checkout for full access to Cory Bernardi Confidential
Welcome back! You've successfully signed in
You've successfully subscribed to Cory Bernardi Confidential
Success! Your account is fully activated, you now have access to all content
Success! Your billing info has been updated
Your billing was not updated