Since the beginning of this year many people have asked me what I thought about BITCOIN?
Many of those asking were the same ones that thought Donald Trump was a Saint and the U.S. election was rigged.
I admit that I missed a huge rise of almost 1,000% on bitcoin since last year but at my age I do not want to take a risk.
As soon as I started to see multiple social media recommendations to buy Bitcoin earlier this year and many of my friends bragging about how much they made recently I advised friends and readers the end was near.
It was the same actions that took place before the last crash, which by the way I predicted before BITCOIN dropped 60% in 2018.
Well guess what in just the last few weeks it is also dropped as much is 57%.
Many bought at the $40,000 - $60,000 highs and I would estimate that as many as 20% to 25% of the owners purchase at those levels may have lost as much is 57% if they got scared out, which is what usually happens to inexperienced investors.
Just the other day when a trading platform I work with called Saxo trading started offering Bitcoin investments for the first time and the option to be able to short the investment I shorted it.
Frankly I found it too crazy to be able to make any predictions because their just too many inexperienced investors on the other side who have such large investments in this Ponzi scheme that violates all technical trading training rules.
Two days ago, I issued this warning "Bitcoin looks extremely dangerous right now as it approaches a $40,000 support level. If it breaks through significantly there could be another major downturn today"
I even shorted at that point but got scared when it turned the wrong way.
I wish I would have stayed in because it dropped to $35,002 within two days or another 12 1/2%.
I would have made 40 or 50% on just that move.
There's a good chance that the 57% drop recently may be the low of the year.
As people like Eldon Musk talk up the investment once again because he did accept a large amount of Bitcoin for purchasing of his Tesla's and now he is sitting with bitcoin's worth 30 to 40% less I don't think his Board of Directors are not happy with him.
The smart money is staying away from Bitcoin.
Remember that it took a full two years after the last 60 % drop before it started to see any type of profits again.
If failed to sell before the recent crash I would probably hold for a bear market rally and when that rally ends get out.
But again, at my age I do not want to take a risk.
There is only one sure investment that I believe in right now that is buying Bali real estate which has dropped 20% to 50% below its 2014 Highs primarily because the pandemic and everybody running out of cash.
When I see 3-to-5-bedroom villas selling for as little as $157,000 with 31 years remaining on the lease I grimace.
I do not have to be a genius to figure out that that is only $500 a month which I would be able to rent right now for a thousand dollars a month and after the pandemic is over up to $2000.
Thats a 100 % to 300% gross profit on my investment.
I just wish I had more cash.
While I am on the subject if any of you have have cash sitting in a bank earning 1 1/2% right now I can put it to work for you where you are fully guaranteed by either a long-term lease for foreigners or freehold ownership for Indonesians .
I see properties every day that make me just winch with pain that I do not have cash to pay for them right now.
You can start your search for depressed properties on our website at this location or simply WhatsApp me Lawrence at 08123814014.
You may also contact me if you are in a position where you must sell your property at a steep discount. There are people literally coming to me daily looking for properties like this right now.
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