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Bitcoin is currently 50% up this year vs. GBP (YTD), although it's only just over 5% up in the last 3 months. And it lost 5.5% last week. It's up 57% YTD vs. USD. So I'm not sure if it's the best time to buy, as there've been some good gains this year already after it hit the lows at the end of last year. Buying on January 1st and selling a week ago would have been the play; hindsight is a wonderful thing, hey!
Any updates from Cryptoland? on 10:12 - Jun 12 by midastouch
Bitcoin is currently 50% up this year vs. GBP (YTD), although it's only just over 5% up in the last 3 months. And it lost 5.5% last week. It's up 57% YTD vs. USD. So I'm not sure if it's the best time to buy, as there've been some good gains this year already after it hit the lows at the end of last year. Buying on January 1st and selling a week ago would have been the play; hindsight is a wonderful thing, hey!
And to put it into better perspective, if you had purchased BTC one year ago today, you'd be around 8% or 10% in the red, depending on whether you purchased using USD or GBP. So while it's been a very good year to date, it's not been very good across the last 12 months in total.
I bought 1 bitcoin a few years ago. It was already very popular at that point, I didn't get in super early like some people did but I paid about £3k for it. It was a punt on something I know little about to be honest which isn't something I make a habit of, but one I was comfortable taking at the time at that price. I probably should've sold it already and made 10-15x but I'm going to keep it for now and see what happens.
I wouldn't buy another one now though.
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Any updates from Cryptoland? on 10:40 - Jun 12 with 1134 views
I've got a small percentage in crypto as a speculative, long-term moon play.
Just don't shove all your eggs in one basket and have a bit of diversification in your portfolio. Treat crypto as a risky play and as always, do your own research.