You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.
When I started investing in Bitcoin , I had the preconception that I must also learn to trade.
Any professional trader will tell you to write down a system of trading rules and abide by them.
Although I think I’m through this phase of naïveté, I still think my emotions have the ability to affect my decision-making skills if I were to try trading again.
I don’t need to take the risk of trading Bitcoin in the short term to increase my gains because my gains will be large enough to satisfy me if I simply wait long enough.
Admittedly, it wouldn’t make sense for me to consider Bitcoin a long-term investment if I didn’t think it would be around 10 or 20 years from now.
Given that the cryptocurrency network on which Bitcoin resides is here to stay, where does the price go? Is it in store for more parabolic growth? Or is the growth going to be more modest from here on out? The third option is that Bitcoin slowly fades into obscurity throughout the coming years.