BITCOIN BITBIDI.....THE BALOON BURSTS!!!

The mantra for my investors for the past 24 months has been #BITCOINBITBIDI (meaning leave Bitcoin alone)
I have been relentlessly behind my investors to avoid Bitcoin inspite of innumerable articles and posts.

This is what I had shared to my investors on DECEMBER 1, 2017.

Exactly 1 year ahead....BITCOIN IS 80% DOWN AND has been shutdown for the past 7 weeks.

Patting on my back!!
Yes. Of course.
But also, encouraging you TO AVOID Headlines.

Just stick to your Goals and Asset Allocation.

Your Financial Advisor knows best on what to do and what not to do!!!

The article went something like this...

MY ORGINAL article written in dec 2017  /https://https://www.goodfundsadvisor.in/2017/12/bitcoinfunds-doublingignore-headlines.html/

CRAZE OF THE MILLENNIUM .....the BITCOIN!!

Then comes one more investor Mr.MPS and sends me a Newspaper clipping which says BITCOIN gained $1000 in 1 single day and asks me 

"Why did you not recommend me this....??
You are talking about SIPs which give me returns after 10-15 years but look at this...it has given in 1 day what your SIP will not give even in 1 year"!!!

I said :"MPS Bhai...

Is Bitcoin regulated? My God....NO!!!

Is Bitcoin a commodity? ....NO!!

Is Bitcoin backed by any Tangible Asset?....NO!!

Is Bitcoin a Currency?....NO!!

Try paying your Income Tax with it and you will understand..

Is Bitcoin easy to understand?...NO! Even JP Morgan's CEO Jamie Dimon acknowledged that he didnt understand Bitcoins and says Bitcoins is worse than Tulip Bulbs!

If Global Banker doesnt under BITCOIN...will you and me understand it?

Do you want to buy something you dont understand?? NO...right...then why SPECULATE..

Is Bitcoin regulated?? ....NO!!!

No SEBI, No RBI, No FED to regulate...If someone frauds you in Bitcoin...you dont have anyone to turn to complain to and get back your investment..... You want to invest in something where there is no one to go to in case of a fraud?? NO...right..then stay away

Even RBI in its Feb 1, 2017 release has clearly stated that it has NOT ISSUED LICENCES TO ANY COMPANY TO TRADE IN ANY VIRTUAL/DIGITAL CURRENCIES. 

RBI has rubbed its hands off the matter by clearly mentioning that those doing so will be doing at their own risk!!

Finally, Dear Investor....BITCOIN or for that matter other Cryptocurrency are being used by Hawala dealers, Terrorists as its very very difficult to track those who trade in them. 

So...if you want to contribute to the TERRORISTS...go ahead and invest in BITCOIN. 

Having said this....Cryptocurrency could become legal going forward and could come under regulation but till then I follow the principle of A BIRD IN HAND IS WORTH MORE THAN 2 IN THE BUSH!!

For me, BITCOIN is a game of GREATER FOOLS THEORY. 

Someone buying only in the hope that there will be another person who will PAY MORE for it and this cycle as long as its running the dance goes on. 

The moment the music stops we may well see LOTS OF BLOOD on the street.

You seem to be trapped in the FOMO syndrome ....FEAR OF MISSING OUT ....This is where majority of people lose money....
The cream is already gone...who knows whats in store

Remember the Japan Stock Market....
It has still not touched its Life Time High even after 28 years!!!!
You could just get trapped in exactly such a case

Relax. 

Play a game of Pokemon Go or Angry Birds and enjoy the weekend. 

Lets talk about some REAL investments next week!

Let the excitement settle....

Let the regulations set in place"""

As I said...numbers can be presented as one wants.
Attention seeking is the name of the game.
Do not fall into such a trap.

IGNORE THE HEADLINES.
STICK TO THE BASICS
STICK TO YOUR FINANCIAL PLAN.
STICK TO WHAT YOUR MUTUAL FUND DISTRIBUTOR TELLS YOU.


He knows what funds fit into your risk profile, time horizon.

Good luck,
Regards,
Srikanth Matrubai

Also visit http:/http://https://t.me/MutualFundWORLD/