Tag Archives: Bitcoin bubble

Where Have I Been?! Updates And Three (3) Apps I’ve Been Using: Circle Invest App, Square Cash App, Robinhood Gold

Sorry for the lack of blog posts. Again!

I’ve spent this entire Spring and beginning of the Summer working, studying, learning, making mistakes, and evolving. Sounds like a lot, I know. I’ve kept investing in various stocks including a few of my favorites that I’ve mentioned on this blog a few times already, such as Facebook and Amazon.

I’ve also continued to save towards a larger cash position, but that is beginning to get even more serious beginning now. I hope to be buying a house and am looking into a few other opportunities within the end of this year and beginning of next. My favorite place to grow my cash right now, as I’ve mentioned, is Marcus by Goldman Sachs. When I originally wrote about them they were offering less, but are now offering 1.8% interest on all savings accounts. On top of that, interest rates are only looking like they will continue to go up right now.

So here’s to some new adventures in life. I’ll be sure to try and keep you updated more! For today I wanted to share a few apps & products that I’ve been using recently, and share my thoughts. So let’s just get into this:

  1. Circle Invest App:  I have really enjoyed using this service. It’s an app in which you can purchase various cryptocurrencies. If you are familiar with crypto, it’s pretty much like Coinbase, but better right now. There are low fees, more of a variety of cryptocurrency, they make it easy to add money and withdrawal, and they have several other interesting features. One of my favorites is the “Buy The Market” feature where with one purchase you buy a fraction of every crypto they currently offer on the app.
  2. Cash App/Square: I really dig Square’s Cash App. Much like Circle, they make it very easy and quick to add money. You can then buy Bitcoin (only Bitcoin at the moment, no other cryptos). You can also use the cash to send to others with the app, or even get the personalized debit card which I did. They have “Boosts” you can load on them where you can get certain discounts when you use the card. A few examples are $1-off each Subway visit, 5%-off each visit at Whole Foods, and 10% off each visit to Chick-fil-A. Not bad at all! It’s overall just a real slick, simple app which I why I like it. You can use the debit card just like any other debit card you’ve used once you load it with money.
  3. Robinhood Gold: I am still a huge supporter of the Robinhood app. Recently I decided to test their Robinhood Gold service. With it you get access to extended trading hours, the option of using margin, and a few other benefits. The cost varies based on how much margin you take on, or as Robinhood calls it, “Gold.” I enjoyed using the platform and testing all of the features. As is always the case with margin, you have to be very careful. It’s easy to make bigger bets than you normally would knowing you have the access to margin. Besides Robinhood Gold, just overall I am very impressed with the Robinhood app. I’ve been trading options (mostly calls) here and there, and am still just learning, but that has become one of my bigger interests in investing. They’re risky, but can lead to big rewards if you’re willing to learn. Biggest thing Robinhood offers… the ZERO commissions for trading stocks, options, AND cryptocurrency. Yes, you can purchase crypto on Robinhood as well and recently they’ve been adding more coins. It’s still only available in certain states, but more and more of those are being added often as well.

I’m going to leave it with those three for now, but I’ve got a lot more that I want to share with you all hopefully soon. Just a few of the things I’ll be blogging about before not too long (hopefully) include the following:

  • Three of my favorite current stocks: Netflix, Nvidia & Tesla, as well as updates on previous mentioned stocks.
  • PayPal Working Capital
  • Adyen
  • GoDaddy Bookkeeping & Quickbooks
  • Vistaprint Promobox
  • Aldi
  • Shift card (Boo!)
  • Amazon Prime
  • the next recession
  • I.R.S. & taxes
  • budgeting
  • WHAT is happening to eBay?

As you see, lots of ideas and plans written down, very little time, but ultimately the passion and determination to eventually get these blogs out! If you have any thoughts, ideas, other suggestions, ANYTHING, just let me know. Have an amazing day!

Brent

There Is Nothing BAD About Volatility. Bubbles Are SUPPOSED to Pop. Take Advantage of Swings!

It often times boggles my mind when you see analysts on CNBC and elsewhere talk about a stock or a cryptocurrency being in a bubble or volatile, and how you may want to stay away. Another thing that drives me crazy is how we were never taught in school how to make money in the markets, about the life cycles of markets, about dollar-cost averaging, and so on, and so forth.

All I was ever really taught in school were things which ended up being completely useless. The basic kindergarten through high school system in the United States is completely broken. You are only given knowledge that doesn’t really help you succeed, unless of course you plan on being a rocket scientist or something so you can use your algebra, etc.. know-how. The system is designed to build herds of people who graduate, then go on to spend unnecessary money on a college education, and end up working some 9-5 job and being in debt the rest of their life (or most of it anyway).

Why doesn’t the school system give an option of a different set of learning/life skills for those that don’t want to go this route? Why can’t they teach entrepreneurship skills, ways to budget, save, and invest your money, and how to start your own business? Why can’t they teach about the Stock Market and these days, the Cryptocurrency Market? Why do we have to keep the curriculum the same and not adjust it to modern times? This isn’t the 1950’s anymore, things have changed.

While the price of Bitcoin and other cryptocurrencies soared at the end of 2017, all you heard in the media was about how it was a bubble, how bad it was, how it was going to zero… STAY AWAY! Completely ridiculous. Obviously Bitcoin was in a bubble, which is normal. It’s a part of a normal market cycle. We’ve now reached what is likely a bottom, and the price will fluctuate a while, find a floor, and begin to rise again. This time we’ll likely be going much higher, my guess is around $30,000 per Bitcoin as I mentioned in my last blog. You need to go against the “traditional thinking,” study, form your own opinions, and try to time the markets the best you can to buy at a low, and sell at a high. You can’t always time it exactly right, but if you pay close attention and learn from your own trial and error, you can get it pretty close.

Once Bitcoin recently hit around $6,500 and another cryptocurrency, Ethereum, hit around $650 I jumped in and bought more of each. As of this writing Bitcoin is sitting right around $8,200 and Ethereum is sitting right around $820. I see them both climbing MUCH higher over the next month and beyond. It will be volatile, there will be swings, but that is exactly what you want to happen. If the swings are wide enough I may even do some swing trades in addition to my long term holding strategy. You better believe though, once we get around the $30,000-per-Bitcoin mark as I am predicting, I will be selling a large majority. I’ll then wait until another huge drop, try and determine a floor, and buy back in. Then I will have more fiat currency to reinvest. Rinse and repeat, over and over. As I said, you can’t always guess exactly right, but if you are at least trying, you’re doing better than 99% of the rest of the population.

If one of your holdings falls, and you still believe in the holding as much as you did when you originally bought it, buy more. This is dollar-cost averaging. If you buy more of something at a lower price, you have now lowered the average cost of your entire holding, so when it rises back up again, you’ll see more profit. What do you know? Yet another thing that we were never taught in school! Likely because most of the teachers don’t even understand this concept.

Right now the traditional Stock Market has even become more volatile. As of this writing, the Dow Jones is up around 250 points, coming after being up around 500 points yesterday, following a day which saw us go down around 1,100 points and another which saw us shed around 666 points. Yes, that’s volatility. I still believe in the investments I recently held and mentioned in my last blog, but as we swung up large after the large drop, I sold my entire stock portfolio as I was sitting on about a 20% gain for the past six months. Once I decide that I’m ready to buy back some of my favorite positions (hint, likely Netflix, Facebook & Amazon first), I’ll hopefully be able to get in at a much lower price than I sold for. If I don’t, it’s a lesson learned. It happens, and I’m more than happy with my profit in those trades!

Do you agree that our school system is broken? Do you understand the concept that a bubble isn’t necessarily a bad thing? Any other thoughts or comments? I’d love to hear them!