It went from cents to a hundred and modification, and then back to like, five bucks, and now it's overcome a half a trillion market cap. Yeah. So what you'll see is a similar circumstance with Bitcoin. Now we also saw Bitcoin go from cents to $1,200, back down to $200.

It's now in its phrase of going into its mainstream stage. Now, in order for it to be a currency, you're right, the volatility needs to reduce significantly. And it can't diminish significantly until it gets truly above a trillion market cap. Okay. So the question is, what takes it to a trillion market cap if it can't be used as a currency? And it will be speculation that gets it there.

And what I'm attempting to determine is, are you more simply put something in, if there's a pullback, put some more in. Yep. If it draws back even further, take a look at your position sizes. If it makes sense, possibly purchase again. However do not get too captured up in the plus green balance in your account, or the minus red balance, you understand? Because- Yep, 100%.

You will see a 50% pullback in Bitcoin at some time. Now we may go to $15,000 first, prior to that next 50% pullback. However you will see one. So put your half position on, wait for the first 50% pullback, put your other position on, and strap in for the flight, 'cause it's going to be remarkable.

Yeah. And that leads me to feeling. I trade alternatives myself, as well, and for me, stock trading and specifically choice trading, fits my character profile. I'm extremely unemotional; I'm disciplined, I try to find the finest, and then go into the better. I'm very strategic about it. However the average individual as we understand, is reactive, when it pertains to investing, they desire to buy Amazon when it's now trading over $1,000, and they desire to sell it when it's at $800, and buy it back when it's at $1,200.

And I take a look at the same obstacle with cryptocurrency, other than I see it on a more extreme level, since it has an even larger FOMO mentality. Where individuals have this worry of missing out, they think, I might have purchased Bitcoin at cents, and if I would have bought $100, I 'd have $70 million or whatever, you see these posts all the time.

That was most likely not very excellent." And I had done that numerous times in these much lower numbers. However back then these were revenues, right? These were genuine profits. And who understood that it 'd be $5,000, $6,000, $20,000, whatever. So there is even a few of this internal FOMO of like, what's the next one? Oh, I've got to find it.

And beyond position sizing, how do you recommend the folks that you inform about cryptocurrencies to protect themselves from this FOMO, emotional spiral that can happen? Yeah, so again, a lot of the time, every other week I put out a video, and I yap about rationality, being reasonable.

On our journey to creating wealth, it's not the federal government or somebody else or our parents who are holding us back, right? It's all up in here. Because cash doesn't care what color you are, it doesn't matter what school you went to; it does not care if you check out well, or if you are great looking, or if you are unsightly.

So we bring all of our own drama to a development of wealth. So some of the important things that I do to assist us secure ourselves from that is diversity, to be humble adequate to say, "Look, I could suggest an idea that could go to zero." Therefore we require to be diversified, and the other thing that we do is we utilize something called uniform position sizing.

So I'll offer you a prime example. I recommended an extremely, really small cryptocurrency earlier this year at 13 cents. And I stated, "Look, if you're a small player, probably put $200 to $400, perhaps $500 max in it. And if you're a bigger gamer, you can put $1000 into it." Therefore that specific coin went to as high as $50.

Yeah, yeah. Right? So, I'm not going to state that every single idea I look at does that. There are some ideas that haven't exercised. But when you have a portfolio of ideas, and you utilize uniform position sizing, a few things occur. One, you're going to get fortunate, best? You're going to have a couple of trades that are simply amazing.

Even if you have ten ideas with $500 each in, $5,000, for many people, they lose $5,000, if whatever went to absolutely no, yeah, it's gon na suck. It's not enjoyable. However it's not going to put you in the poorhouse, right? You're not going to be sitting beyond Grand Central Station with your hat in your hand begging for burger money.

Because of the charm here Ryan, you know I get passionate about this, you have actually got to forgive me, however the charm here is we're so early. Mm-hmm (affirmative). We're so early, that we do not need to be that brilliant, ideal? We need to be brilliant adequate to have a core portfolio of fantastic names, to have rational position sizing, and then be intense enough to do absolutely nothing but wait.