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RE: My Strategy for a Bear Market in Cryptocurrencies

in #bitcoin7 years ago

With all due respect, that is not really a good strategy for a bear market. Basically your strategy is only to hodl. What if prices stay suppressed for decades. Look at what happened to silver. In 1980 it got up to $50/oz and didn’t go anywhere near that price again until 2011, and it’s also down majorly since the 2011 high. Your hodl strategy would have lost you heaps of money and also cost you lots of opportunity cost.

I’m definitely hoping that bitcoin will not experience an extended decades long bear market, but you never know.

A better strategy might be to swap between cryptos to gain more crypto, or take at least your initial investment out of it’s already doubled. Sell half and keep the rest kicking around at no holding cost.