Is this the Bitcoin correction we all have been waiting for?

By cryptoph | Trader's Reflections | 4 Jan 2021


Remember the story of the race between the turtle and rabbit? As a child, I loved to hear this repeated by my Dad.  The lesson is one that I always took to heart, and the lesson is this: Life is like a race, it is not always the fastest that wins but the one who is consistent.  

What lesson can we draw from this story regarding the Bitcoin bandwagon.  It seems everyone is jumping to this currency and this is driving the price into unprecedented heights.  Many would like to get rich quickly, reach their financial goals sooner than expected.  But look at the price of Bitcoin now, it's down 7% as of this writing.  If you have joined the bandwagon starting this year, definitely you are now at a loss.

Instead of following in the footsteps of the rabbit, try emulating the strategy of the turtle, small but consistent gains. Overtime, with the power of compounding, these small gains would become substantial ones and will help you reach your goals in life.

 

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Trader's Reflections
Trader's Reflections

This blog contains my personal thoughts and ideas about certain stocks, currencies and cryptos. They are not investment advice. Trade at your own risk!

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