I am flooded by opinions that Bitcoin will go down. I believe that they are to some extent correct, when you consider the short term, but the longer you pan out I see us entering a buyers market. The HODL'r should not just buy at high's then emotionally torture themselves when it goes down.
Become a contrarian and begin to look the other way when the general consensus is negative. In a 5 to 10 year period I think we will look back and kick ourselves if we don't begin to ladder back into this market.
Twitter: Unclepeter0
Not financial advice!
I too believe in the 'be contrarian' way of thinking.
But the question is, when do we start to ladder back into the market? The price is still heading down so a sub $5000 price is on the cards.
That is the million dollar question my friend. The first trick is always to put in only what you can afford to lose, just bang in what you’re comfortable with.
The next step I’m taking is looking at the risk v reward. Personally from 5k I would consider the chances of the price levelling at 2.5k to less than it levelling at 10k in the next few years. Likewise I think it levelling at 2k is less than it levelling at 8k (I don’t mean touching these prices I mean levelling out there).
I would never encourage people to do what I do though. Each to their own. Perhaps use it as a swear jar instead of a “Proper” investment and stick a couple of £$€ in occasionally?