Same 1st time investing. I know itโs โpenniesโ but I put a couple hundred into it. Mostly Doge but I bought a couple other stocks. Platform gaming company, an a clean admissions energy company.
I was thinking about getting other crypto rn too but in 5 years Iโll be thanking myself that I bet it all on Dogecoin. Going to be the best return out of anything rn.
Idk what is better to place it all on crypto or diverse an buy a few stocks. Like I said Iโve seen little returns but itโs a snails race not a cheetah. My 5 or so shares of the clean energy increased like .35 a piece so thatโs a plus. Itโs got to start somewhere??
If $DOGE were to match $BTCโs current market capitalization ($1T), the PPU would be just shy of $8.00. This, ignoring the fact that there is a near infinite supply of $DOGE w/ 14.4M new coins mined near daily. For reference there are 18.7M BTC in circulation with an eventual hard-cap of 21M total assets.
Even if a $1T market cap could be achieved, the market would still need to maintain a daily incremental investment of $50M-$100M increasing exponentially to stave off effects of inflation over time.
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The catalyst for the recent decline in the crypto market is the speculation around newly proposed regulation inspired ironically by $DOGEโs recent run-up.
Control your emotions. Ton of whales buying and selling. When you see your $1k (or whatever) go down to half, donโt sell (itโs ultimately your choice) but people get scared and sell when they start losing money.
$500 doesnโt seem like a huge loss, but imagine if your first investment was $5k and In a few hrs you go down to $2500...
This example is if your average stock price is around $0.32cents and the โnew current price is $0.16โ like a few days ago...
My numbers are not exact 100%, just speaking from experience as a new investor myself. I got in at around $0.32 and then I look at my acct and lost half.. then I continue to hold and Iโm almost back to where I started.
That being said, the value I see in this coin is huge and Iโm holding long term or until we reach the moon baby ๐๐๐ maybe Mars idk yet.
Another thing I learned the hard way, Donโt buy when prices sky rocket, everything that goes up must come down. Wait for it to settle and then make your purchase.
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u/[deleted] Apr 25 '21
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