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re: Looking for Bitcoin info
Posted on 1/8/21 at 10:17 am to Uncs
Posted on 1/8/21 at 10:17 am to Uncs
It’s probably too late to start buying BTC if your intent is to hold it for a year or two and flip it for huge gains. I leaned my lesson in 2016-2017 and waited to take large positions in crypto when the market was in absolute despair and the irrational selling seemed to be at an end (March-May 2020). Crypto seems to be following a logarithmic regression trend-line with periodic cycles lasting 2-4 years. My suggestion would be to wait for this cycle to complete and start dollar cost averaging in when everyone loses interest again 1-2 years from now.
1
Posted on 1/8/21 at 3:12 pm to LSU2a
quote:The problem here is you run the risk of this running to $200k before "crashing" all the way back down to $50k. Big difference now vs previous halvening cycles is now you have companies and major funds holding it as a reserve asset. Those coins aren't going to be traded like weak hand individual investors. Perhaps that puts an artificial floor where it doesn't crash or pulls back 50% vs the previous 75-80% pullbacks.
My suggestion would be to wait for this cycle to complete and start dollar cost averaging in when everyone loses interest again 1-2 years from now.
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