If Bitcoin's eventually going north of $500k, we probably shouldn't worry too much about dips

in LeoFinance3 months ago

Everyone freaks out when we dip, but they really shouldn't

Unless you have money to buy the dip, there's no reason to even pay attention to them.

If you freaked out about dips in early 2017 you missed the life changing move.

We got two rather large dips early in the year before ultimately surged much higher over the years that followed:

image.png

(Source:

1352602667072315397/photo/1) twitter metadata:bm9zaGl0Y29pbnN8fGh0dHBzOi8vdHdpdHRlci5jb20vbm9zaGl0Y29pbnMvc3RhdHVzLzEzNTI2MDI2NjcwNzIzMTUzOTcvcGhvdG8vMSl8 ~~~

Your time-frame should be the next halving, or the one after that one even depending on your age.

If you look at things like that, a little dip here won't matter when we are trading north of $500k by 2025.

Probably hit $1 million per coin before the end of this decade, which makes worrying about selling due to a little January dip kinda seem pointless.

Unless of course you can get back in.

Then you can buy all the dips and sell all the rips and make $3 million by the end of the decade instead of $1 million!

Sounds great and all but that's not something that 99% of traders can do, are you part of that 1% that can?

If so, go for it! If not, go enjoy your life and check on your bitcoin a few years from now and you will probably have a very large smile on your face.

Posted Using LeoFinance Beta

Sort:  

Wise words and some that I can't read often enough. I really have to try and focus on long term hold while I keep finding ways to add to my portfolio.

Do you have any experience with platforms like Celsius or Blockfi and, if so, how do you feel about holding your Bitcoin or other crypto there?

Cheers!

Posted Using LeoFinance Beta

I agree. If your investing horizon is a lifetime, these little 30% fluctuations will make little difference. Sure, your gains might be a bit larger. However, it also assumes you want to sell. Why sell when you can collateralize?

You're right. Of a $50 dollar cost average buy, I only lose or gain a few dollars from daily price fluctuation. Hardly life-changing. If I had a few thousand to invest, I could see price being significant. But, at $500,000 BTC, will it have mattered that much?

Posted Using LeoFinance Beta

Well it only means your gains will be larger if you time things correctly and get back in. I've sold near short term tops several times, the problem is that it's a lot tougher to know when to get back in than you might think. In many cases I never got back and the price went way higher, making my sell at that short term top the wrong move because I couldn't get back in.