Cryptocurrencies – A MASSIVE Home Run!

by FI Fighter on June 17, 2017

in Cryptocurrencies, Precious Metals Updates

There are no ifs, ands, or buts about it… Cryptocurrencies have been the shining star of 2017 and the returns investors/speculators have made are off the charts…

One for the record books…

The pullbacks are surprisingly short-lived and the recoveries tend to be even more fierce… I think it’s only a matter of days/weeks/months (at most) before we see Bitcoin over $3,000 and Ethereum at over $500…

And now Litecoin is sprinting ahead and making up some ground…

From Coin Market Cap.

Litecoin is up 37% as I’m typing this…

 

Unbelievable!

 

These are indeed life-changing gains that are being made here…

 

As for myself, as the intro pic alluded to, I have ZERO skin in the crypto game… Previously, I shared with readers in past articles, my own thinking is that I’m just gonna sit back and let things play out… From my own history and experiences (i.e. failures), I’m trying to be far more disciplined in resisting the urge to chase hype and momentum plays with reckless abandon…

 

This isn’t me knocking on cryptos…

 

Frankly, I just prefer to buy assets at 52 week lows (e.g. gold and silver mining stocks) as opposed to 52 week (or all-time) highs…

Such as this 52 week chart…

Or, when a 3 month chart looks this horrendous…

As for the underlying asset? Physical silver (even more so than physical gold) has got to be the most undervalued and underappreciated asset in the entire world!

 

Buy low.

 

It’s really as simple as that, and I won’t try and complicate things…

 

As an individual investor/speculator, I have to accept upfront that I can’t win em all

 

In the BIG PICTURE, I also should realize that I don’t need to in order to come out miles ahead.

 

So, shout out and kudos to all the hardcore crypto folks who are making a killing here! No need throw any shade, b/c ultimately, when we step aside and remove all emotion from the equation (easier said than done), we’re all kind of on the same team anyway…

 

Alternative currencies to the dying (doomed) fiat standard…

 

People want a way out of the system…

 

So whether your vehicle of choice is: gold, silver, cryptos, etc., it’s more or less the same idea…

 

If anything, I’m rooting for the cryptos to succeed since I think it will also bode well for the precious metals sector.

 

Eventually.

 

What’s happening right now for Litecoin, I mean let’s be real here… I’m salivating for the day when silver gets that same momentum and explosive price action to the upside.

 

And I really don’t think those days are all that far away from reality.

 

Gold and silver will shine brightly again someday!

 

I’m very confident in that underlying investment thesis, which is why I continue to hold and accumulate physical precious metals and the mining shares.

 

The cryptos are leading the way and good for them and the people making bank with them.

 

Life’s too short — Enjoy the big wins when you get em and be happy for others when they succeed.

 

Fight On!

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{ 7 comments… read them below or add one }

1 haziafelNo Gravatar June 17, 2017 at 1:07 pm

Very cool to see you cover this. Have been reading your blog since 2015 and have been following crypto since 2013. Study up on this and wait for a good time. 🙂 Thought things move so fast in this space it sometimes hard to catch up…

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2 FI FighterNo Gravatar June 20, 2017 at 10:28 am

haziafel,

Yup, doing my research now and will be ready if we get a good buying opportunity. I’m not tempted to chase, so I’ll wait it out… If I miss out, oh well, life goes on.

Cheers!

Reply

3 Buy, Hold LongNo Gravatar June 18, 2017 at 5:55 pm

Very interesting, not many people cover these sorts of investments but they are quite interesting to follow. Thanks for sharing your thoughts!

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4 FI FighterNo Gravatar June 20, 2017 at 10:29 am

Buy, Hold Long,

You bet! I’m not active in the space, but it’s worth following since it’s all the buzz right now.

All the best!

Reply

5 Tim Kim @ Tub of CashNo Gravatar June 19, 2017 at 2:53 pm

It’s good that you don’t have any money in it. Because cryptocurrencies are not investments. It’s akin to gambling IMHO. Can you luck out? Yeah. But it would be a gamble. I believe in block chain technology. But there are like 100+ crypto currencies out there. A disciplined investor would pass without blinking an eye.

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6 FI FighterNo Gravatar June 20, 2017 at 10:30 am

Tim,

Yeah, not all the cryptos will make it but the ones that do (probably Bitcoin, Ethereum, Litecoin) will all be worth something and the intrinsic value is in the network itself.

I’ll trying to be disciplined and I’m not chasing anything…

Cheers!

Reply

7 Investment HuntingNo Gravatar June 20, 2017 at 3:37 pm

It’s been a good run the past month with BitCoin, Etherium and a few others out there. I have about $5k invested in coins. ETH has been my winner lately. I’m up 400%

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