Vlog 212: Long term investment advice.
I realised that my current investment strategy is based on my own personal situation.
I have crypto but I also have fiat on the sideline because I sold on the way up.
It's a very good position to be in because it makes me very flexible.
If crypto goes up it's ok. If it goes down I can buy more. Pretty simple.
After BTC came down from $20000 to $6000 it's now showing a small sign of a recovery. (currently $8000).
But to be honest +$2000 is nothing compared to how much was lost.
I need to see a much stronger signal then that before I believe any of it.
I would be very careful going all in at this point. (going all-in is something I would never do, ever).
But buying a little bit can't hurt. Especially if you were thinking about investing in to crypto for the first time.
I invest for the for the long term (years) and buy slow. I don't like too much risk.
I talk about it more in my vlog.
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Don't forget some precious metals like Gold and Silver. After all, they have been money for over 6000 years. Many cryptos haven't been in existence for 6 years.
I don't know your present person life situation, BUT I hate people in crypto who also have fiat and never use crypto in their daily life.
My belief is...
If you treat crypto well and it'll treat you back really really well. Don't do things half heartedly.
This was probably your typical newbie bitcoin buyer until Steem came along. Now they buy bitvoin to get into fiat and probably all off chain.
Good to see you in your garden. I am sad that winter is going to an end.
Yeah, you have a point there. You can not take this first up as positive sign to bet all your money on bitcoin but yeah sometimes going all in or putting all your eggs in a bucket could be fun and risky too :p
I will give you my vote every time I see them on my screen, but also give me your vote, I will love them forever.
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More steemians are more educated now about crypto.
Don't invest all, just the amount you are okay to risk.
Keep on steemin'
If you don't have a long term perspective investing in crypto then it will only harm your investment and you'll likely lose money.
You need to be in for the long-term, only invest what you're willing to lose, and research strong projects and hold. Don't try to trade often because you only incur more fees.
Diversify (within reason of course).
Dollar cost average all of your investments as much as you can. Never invest ALL of your funds into one project and all right at once. Hold some cash aside for when the prices go down. You can buy in lower and bring down the average price of your investments increasing your odds of seeing a return once it rebounds and goes back up.
Buying low and selling high is easier said than done but if something is hitting all time highs then you likely should not invest in it. Wait for the prices to drop because it's a near certainty that they do. These are the trends of trading anything in an open market.
If you want to make a few speculative moves then find some new projects that are coming out but do your homework first only but into things that feel like they have a bright future and a strong team around them. Focus on major industries where the technology or projects could really make a difference in the world or that could catch on. With new coins you must have a long term perspective though because you will not get rich over night and with new coins you will almost certainly have to weather a few downturns before you start to see them tick upwards.
Sorry I wrote a book here but I hope this helps as many people as possible!
I am very interested in this paper. by @ismuel
That's crazy of bitcoin going down as much as maybe 5000
$
Its not possible the https://steemit.com/bitcoin/@newmarket65/the-bit-coin-floor-is-around-about-usd6000
Here is new buyers every day for Bit Coin the floor always goes up for Bit Coin over time so it will never hit $5000 again i can bet my life on that
If during a month bitcoin could lose over 50%, then another 40% drop is also possible. Note that the 24 hour change has been around 20%.
maybe..
oooooo....yes. you are right.
@exyle :- you are a great heart. I follow your post
i follow you. i hope you follow me.and plz vote my posts
i doubt it
great advice on crypto when to buy n when not to thanks for share.😊
great advice on crypto when to buy n when not to thanks for share.😊
I never go all in, as that’s typically a sign of desperation and always ill advised. Diversification is the name of the game with investing.
I feel that we are still going lower, perhaps with $5000 BTC bottom. Then again we may have already hit the bottom. Only time will tell.
I’m a big fan of ETH here, and it is my biggest holding currently. Feel like it will hit $2k by August.
GL to all and thanks for sharing.
ETH hitting 2k would be nice. Ambitious. Do you think BTC rises proportionately?
Hard to say, but my opinion is BTC was way overbought due to the fact that if there’s is 1 crypto that the masses know about and is easiest to buy, it’s BTC. If that trend continues year it will rise proportionally. If the crypto newbies have been scared out of this after the crash, they may never return which would eliminate the pump of BTC from “beginner money”.
At least we will see less of "when moon?" posts.
A wonderful strategy, my friend and you reason quite reasonably in the sense that if the price is high, then the profit will be greater, and if the price is low, then you can invest more assets. I agree with you, Bitcoin now played a part of the loss, but I think after the Asian New Year, Bitcoin will start a gradual growth, thereby pulling all the currencies behind him, which will favorably affect the Steem. Thanks Mark
Will steemit rise?