Forget the dip, ethereum is skyrocketing while bitcoin is stagnant. I took some risks putting 90% of of my crypto portfolio in ethereum this time around but I sure wish I bought more. If it can pass the ath, $10k might be possible…and it might come very quickly.
2 Likes
Well, I bought a few bitcoins anyway when it started ripping. It tends to catch with ethereum/altcoins one way or another.
what’s your PT to sell and re-enter on ETH?
I’ll likely take some off close to $4k, see the price action and re-enter if it rips above it. I bought most it around $1900-2000 range on this cycle after selling most at $3600-3800 a few months ago. Taking 50%+ off makes sense to me. I can never predict PT for crypto. I just go with the flow and price action but big resistance, I’ll take some off for sure.
cool my avg price is 3400 and still undecided when to sell and re enter.
Exiting crypt is so hard especially in a trading scenario. If you’re a HODL, which I’m for some part of my portfolio, I guess it’s easier. For trading, I usually employ a few simple steps in the resistance area:
- Sell some close to resistance if there is any
- If the price action is still bullish above resistance (especially during daily closing hours), i’ll chase and buy some (maybe 25%). Usually a backtest happens back to resistance, in which case, I’ll go in with rest of 75%.
- If the backtest fail, I’ll look to exit 90%. This is usually where a lot of fake-outs can occur and it might just consolidate for a while. Accumulate back slowly and look for consolidation range.
3 Likes
i just want to say, thank you for sharing your thought processes and approach. I am still learning and I appreciate the insights you share.
1 Like
How advisable is buying and holding Bitcoin for looong term?
For instance, is it wise to invest, say, $25k to buy 0.5 BTC today, and just hold for next 10 years. It may become worthless or go up in multiples, who knows - i.e., is a buy it and forget it gamble foolish?
You should read about bitcoin halving and what that means, as well as past behaviors. The basic theory is that scarcity of the bitcoin via halving makes it a deflationary asset, making it more expensive in dollar/fiat terms.
We are on third halving, and some people believe it could be the last one (in terms of the value increase with price target anywhere between 100-250k) or maybe next one could be it ($1mil/bitcoin?). At $500k per bitcoin, it will match the gold market capitalization ($10 trillion). Nobody knows but if bitcoin goes to that price, US economy might be in deep trouble imo. Long term, it’s a hedge for me. Short term, it’s a trading opportunity.
It’s a risky, volatile asset that doesn’t have a true use imo but maybe crypto as an overall tech, there’s something there in the long term. You’ve got to decide for yourself!
https://www.cmcmarkets.com/en/learn-cryptocurrencies/bitcoin-halving
2 Likes
Fireworks ready to begin or rather, somebody got some inside rumor and it started the crypto rip today.
Bitcoin is worthless. People think the dollar and their local currencies are worth even less. This about lack of confidence not about the value of crapto. The biggest Ponzi scheme in the history of the world.
Buying BTC is a risk, but can you afford the risk not to buy?
1 Like
I don’t believe in risk. But many in this forum are gamblers. Addicted to risk. I like investing in RE. My knowledge gives me an edge. The edge to Bitcoin goes to the whales that control 90% of the market. A criminal conspiracy that should be taken down by the Chinese government. They all ready took down their consumer tech stocks. Is Bitcoin next?
Thanks for the pointers on Bitcoin halving. My impression is that Bitcoin and other cryptos do not have any intrinsic value, they are simply fiat currencies only backed by clever computer code to make them scarce. They may be inflation hedges in the long term, or may become worthless as a fad that goes out of fashion. Given that, what fraction of one’s investable assets do you and others on this forum recommend investing into crypto like Bitcoin. For example, 1-2% of total assets, or 5-10%, or even more?
Heard tomorrow there’s some upgrade for ETH so going to 4k. If BTC lifts up ETH lifts up too!
1 Like
Definitely 1-2% at least even at current levels.
My investments were in the 5-10% range, but done closer to local minimums (at $8000 this last time) so I had more confidence in the chance for appreciation. I could easily a chance for 5x to 10x at that price within 1 cycle.
At current levels, I feel best case would be 3x or 4x, but that’s best case. So more risky right now.
That being said. I “feel” like it could approach $100k this year.
1 Like
Yep, I strongly agree. More risk now but you almost need to take a chance at 1-2% level. My long term is at 15% holding but short term, I go up as much as 30-40% and btfd especially in a cycle dip like we had a few weeks ago. I also have 1 bitcoin for each of my kids just in case it does the impossible. I don’t have plans to sell those until they reach 18. I should’ve given them 10 ethereum instead 
.
2 Likes
I just wish I was a little more risky in 2015. I put $500 in both BTC and ETH. Ugh, should have been $2500 each…
Don’t be so stingy. Give them 1 SFH in Seattle.
Crypto will outpace real estate appreciation. You’re giving a bad investment advice. 
2 Likes