You have a good attitude but the thing is, when are you going to sell and be out of the game? Nobody is ever going to sell at the very top because nobody knows where the top is. You also talk about not giving into the fud, but you post a lot of fomo news (like "Bitcoin can reach 130,000!!") How do you know the fomo is real but the fud is not? Institutions can post fomo just like they can fud. Do you have a plan if the market has a sell off? How do you know if the market is dipping or it's the start of a bearish sell off? You don't know and neither do I... Just some helpful criticism to think about... I will say this though. Let's say Bitcoin goes up to 80k and we buy in right now at 32k. Well if it goes up to 80k all we are doing is doubling our money, which is good, but is it worth the risk? To me there are better options out there that have over 5x potential even higher. That's why I've devoted my portfolio to Ethereum Chainlink and Polkadot, (which I'm holding none of because Im in the process of shorting them too) I think the dipping is not over yet IMO.
There's a video on YouTube I posted a couple of days ago, where he discussed that during the turmoil of the "crash" there were some questionable sales that seemed to exacerbate the downtrend and when the price was low enough, massive buys pushed the price back up and those sales disappeared. Let me be clear, though, this is a temporary pause on the bull market. It's funny that a price of over $30K on bitcoin is considered bad thing, come on, now, a month ago, this is a huge price! This is a healthy correction pause in a bull market! HODL
"When am I going to sell and be out of the game?" I'm not planning to sell out completely of cryptos and I'm not trying to catch the top. To be fair, I rode two bitcoin bull market cycles all the way to the bottom with the last one 2018-2019 being a huge mistake on my part and should have cashed out to stable coins. When I believe this bull market cycle is over, I will cash out to stable coins and earn interest while waiting for the next bull market cycle (next halving event). "You also talk about not giving into the fud, but you post a lot of fomo news (like "Bitcoin can reach 130,000!!") How do you know the fomo is real but the fud is not? Institutions can post fomo just like they can fud. Do you have a plan if the market has a sell off? How do you know if the market is dipping or it's the start of a bearish sell off? You don't know and neither do I..." I posted JP Morgan call for bitcoin price $146K and Guggenheim CIO stating bitcoin price should be $400K and I think I I posted Citibank's call for $280K These are trusted professionals in the investment world and they are more than qualified to state these bitcoin price targets You know what I didn't post about bitcoin price targets? Raoul Pal $1M bitcoin price projection (last week, I think), Anthony Pompliano's $1M or even higher bitcoin price target (this week on CNBC), Michael Saylor's $1M, $10M, or even higher bitcoin price target and Plan B's s2f price prediction end of 2021 and end of this bull market cycle How do I know fomo is real? I posted GBTC added 30K bitcoins this week alone. I posted on another post the PayPal bitcoin transactions are extremely high, hitting a daily record of $249M Those are not proofs the fomo is real? Those are not an indication this bull market is still in full effect? How about the fact that the big bitcoin wallets are growing in numbers and increasing in bitcoin holdings and bitcoins are being withdrawn from exchanges causing shortages as indicated by eToro message to their customers? There's a big distribution of bitcoin ownership from retail as represented by PayPal & Square. The non-retail are represented by GBTC, Fidelity, Guggenheim, Paul Tudor Jones, Stanley Druckenmiller, Goldman Sachs, JP Morgan, Stone Ridge, SkyBridge, ARK Invest, MassMutual, etc, I don't think there will be a coordinated sell off when the bitcoin bull market ends or that there will be a "secret announcement" somewhere. When it happens, everyone invested will have to decide what they want to do. By the way, there's an idea that I'm on-board at this time and that is that the next bear market won't be quite the same as the previous ones peak-to-trough over 85% and the reason is that the non-retail are not moon-type investors wanting to make more $, they already have tons and tons of it, they are in bitcoin for inflation-hedge, SoV investment, fwiw. "I will say this though. Let's say Bitcoin goes up to 80k and we buy in right now at 32k. Well if it goes up to 80k all we are doing is doubling our money, which is good, but is it worth the risk? To me there are better options out there that have over 5x potential even higher." To me, there is no safer investment than bitcoin risk versus reward. None, I am not a financial advisor and I will not try to convince you or anyone of this. I like the 3 crypto coins that you mentioned and obviously, I'm invested in Eth, Dot is very interesting and I may take a position on it. No plans on Link More indication of more fund$ flowing to the crypto digital assets investment space below:
You seem capable of rational discussion so let me bring this point to your view: If you go to cash to short ETH LINK or DOT, or simply stay out of the correction, what if you are wrong and they moon? Is say a 30% drawdown worth missing 500% upside? You yourself have said there is no way of knowing where the ultimate top is. Cryptos are not traditional assets with a fair value.
That's why you have a plan in case you are wrong. If i'm wrong and the market starts to rally I just buy back in at the cost of losing some of my position. That's part of the risk I take for more profits. No matter what you do, there is always a risk or else you wouldn't be trading.