“Bears get rich. Bulls get rich. Pigs get poor.”
A bear is someone who believes the market will do poorly. They invest in bonds, safe stocks and find ways to bet against the market. They make money because they play it safe.
Bulls are optimist. They invest in stocks and believe in them. They notice that the market goes up and down so they buy stock they believe in and stick it out. Inevitably the market goes down and then it picks back up. Bulls get rich because the market has an upward trend.
A pig is an emotional, wannabe opportunist. They see that the market is doing well so they buy. The market starts to do bad so they panic and sell. The objective to investing is buying low and selling high. Pigs do the opposite they buy high and sell low.
Bit Coin is a market for bulls. If you don’t understand it and believe in it why are you buying it!? If you are a bear stay out of this market; it’s too new.
So here is my advice if you are a bear get out and stay out. Or be a bull and stay in. As a matter of fact this is a great time to purchase bit coin! Sell now and curse yourself when it goes back up in price.
Note: Writer is am some guy on the internet. This is not professional advice. This is the opinion of the Writter.