- Last year, I published "The Beginner's Guide to Investing in Bitcoin"
- One of my readers has been in touch with how he tried it out in real life.
- Following the strategy, his initial investment has risen 66% in a year!
Last year, I published “The Beginner’s Guide to Investing in Bitcoin (including $10 free Bitcoin as you get started)”. Unlike so-called “get-rich quick” schemes, the “Beginner’s Guide” didn’t require handing over hard-earned money to a likely scammer. After all, how can a novice investor learn and improve, unless they remain in full control of their investment at all times?
Nor did the “Beginner’s Guide” claim any secret insights into speculative geopolitical and economic events to somehow foretell Bitcoin’s price movements. There is no crystal ball. Rather, the “Beginner’s Guide” set out a mathematical strategy to beat the Bitcoin market: a formula simple enough for the first-time-trader, armed with just an ordinary calculator, to work out when to buy the “lows” and sell the “highs”.
The idea was to buy Bitcoin when everyone else was selling it, and then sell it back to them when they were buying it again. After all, you’ll never beat the market by following the crowd!
It all looked great in theory, but how would it work in practice?
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A year on, one of my readers has got in touch to tell me how the strategy’s worked for him. In August 2019, he read the “Beginner’s Guide,” thought that its mathematical strategy made sense on paper, and so decided to try it out for real.
The green circles show when he bought Bitcoin, and the red circles show when he sold it:
As you can see, my reader successfully bought the “lows” and sold the “highs” (well, except for in March, when apparently he wasn’t keeping a close-enough eye on the market!).
My reader also told me that he’d tried out the same strategy to trade another Cryptocurrency called Ethereum:
Again, in the main, he bought the “lows” and sold the “highs.”
So, what was the outcome?
A year on, my reader has successfully turned his initial £400 investment into £665, which is 66% profit – far more than he would have made by leaving it in the bank, or even by “hodling” it.
The “Beginner’s Guide” set the novice trader the goal of doubling their initial stake, and then cashing out what they started with.
If my reader manages to do this, he will have avoided losing any money in the notoriously volatile crypto market, and whatever’s left will be a bonus. Speaking to him, he seems quite confident!
Have you also put the “Beginner’s Guide” into practice? If so, let us know how you got along! What did you learn on the way? Do you have any stories to share?
Be warned, though! If you feel ready to take on the Bitcoin market, the first rule of investing is: never risk more than you can comfortably afford to lose. It’s not worth putting your life savings on the line, or starting a family argument. However good your strategy may be, or however lucky you might be in the short-term, we cannot rule out the chance of Bitcoin crashing to nothing.