Perfect time to invest in crypto is now even if it drops another 10 or 20% that does not matter as you will neve catch the absolute bottom.
Today I had coffee with an old friend of mine who is still a supplier involved with our business. This is what happens when you build up a strong relationship over many years of dealing with each other as a strong bond of friendship is formed. We trust each other and will always look out for one another because that is what friends do.
He is the guy who is investing $500 into crypto which I have been delaying him for the last month for good reason. Out of all the crypto investments I have shown him he selected COTI because I think he can understand it more than the others. The delay of around 1 month has saved him roughly a good 15% due to the price dropping and we will most likely do the buy in on Monday.
How lucky can you be with the timings for this cycle because this is simply ideal buying low and selling high. We have waited the entire cycle and getting these prices now knowing we have a small part left to play out seeing the ATH's. Even if COTI just reaches the last ATH he would see a 8 x return on his investment in a 6-18 month time frame. The hope is it does far more than that and will just have to wait and see. Very very lucky.
He had so many questions today and as I was answering those questions explaining the 4 year crypto cycle here was one question he kept on asking. This was why are more people not doing this if they know the crypto cycle?
The answer is simple and that is many who say they are in crypto have no clue what they are even in and how thigs work. The positive take on all of this is he is asking the right questions and wants to understand the crypto space a little more.
The coffee meeting turned into a 2 hour crypto class and knowing there will be many more questions on Monday I will prepare him some notes in advance. Truthfully we could still be sitting there because actually the knowledge we have just floating around our brains is vast.
I explained that his investment must not exceed R10K and should rather be R9500 because we do not want to trigger the taxman. Whenever we sell when the market is right he must take back the R9500 through the same route and nothing else. This will square him off with the local taxman and he needs another account overseas preferably in Portugal which he will set up. Bringing back funds into South Africa is just stupid because R10K is literally nothing and around $550 currently.
I know many have been cashing out their crypto in small amounts under the $550 red flag amount and we need to be careful once the prices start to rise because this will activate the taxman looking into your financial affairs. South Africa is looking at ways to increase their tax revenues and trust me when the bull cycle starts they will be over anyone who has been flagged and they know is in crypto. The one thing we do not know is if it is accumulative adding up to R10K or a single transaction and why one has to be so careful.
All I know is my friend is actually very lucky having me teach him the finer details and will know more about crypto than most people who have been invested in crypto for many years. I think we will see more crypto investors after this cycle is completed due to the successes since the last ATH's. Many more people are staking in crypto removing the thought of trading entirely ad there will be far more rich people once this cycle has finished. Friends and family members will know about this and have been watching closely from the side lines will now be tempted to become crypto investors.