I am used to invest in physical gold these last 2-3 years ; should it be bullion coins or numismatics.Just curious, what is your thought process behind buying Bitcoin right now as opposed to wait until it has pulled down again?
L0Because I'm thinking the opposite and it's about time to cash out soon. Seems very late into the game.
I have heard millions of people saying "dont but any coin now ; the market is too high" or " You wait until the price goes down " ; " you have missed the train".
In my relatively uneducated opinion this is very presumptuous to believe that you can predict the market. I have ignored those people refraining me from investing and bought gold regularly .
At first it stagnated then we reached a record high during the first pandemic wave . I sold my superfluous stocks for profit and start building back again a little stack.
Regarding bitcoin I am a noob. I don't even understand what is mining or Blockchain and to be fair I don't care much. I just know that bitcoin and Ethereum are very liquid and that there is a real interest from a lot of people. Especially young ones. This makes them real assets so it s worth having a look at it.
I will simply put 80% in bitcoin and 20% in Ethereum a bit like a cautious investor would do for gold and silver. I will not go into new coins or check ICOs etc it is not my range of competence.
The bitcoin price is probably record high now but it is irrelevant . Just put in every month and make an average . Maybe all next year it will to down and it will lower your average before the next bump and still allow you to profit once you decide to sell.
It all depends what you want to do. Scalping with high amounts / trading for speculation or just be in the train. I will personally use it for diversification and insurance against a possible devaluation of fiat / ban of cash. If I can ever hit the jackpot I will cash in.
The only thing i haven't worked out yet is the exit strategy. That's why I put a small amount at start to get familiar with the system.
The main minus so far seems to be the incredible volatility as well.
Just curious, what is your thought process behind buying Bitcoin right now as opposed to wait until it has pulled down again?
Because I'm thinking the opposite and it's about time to cash out soon. Seems very late into the game.