Hey guys, I just want to mention that we shouldn't be constantly chasing
If you get into the psychology behind speculationI'm bullish on ETH. There's actually brain addiction stuff that relates speculation to gambling or other addictions...and bubble psychology. I don't want to get too into that as I'll save that for later.
.jpg)
Really you should focus more on the macro level like:
What are the large moves in the market place over all?
What is the Bitcoin dominance compared to other market caps? (Currently Bitcoin is down to about 35% of the market cap, while it used to hold 50% plus levels so it could be looked at as 'cheaper' now so it perhaps could be a good time to buy)
Market Stability.
Focusing on the large caps top 5 currencies for buy and hold
Taxes and regulations
Privacy and security concerns.
A large benefit of HODLing long term is you save 15-48% short term capital gains (which are taxed at normal earnings tax brackets similar to a job or W2 earnings) versus lower long term capital gains taxes 15-20%!!
Another benefit is you don't have to constantly be paying attention to sensational news, and could instead focus on the technology and the cryptocurrency on a broad holistic macro level.
In the past few years every pump and dump of BTC looks like little 'blips' when compared to the higher level market move of bitcoin.
. What do you all think about Long Term holdings in? Ethereum, LTC, BCH or BTC? (and now Ripple XRP)
If you guys were to long-term hold for 6 months to 12 months would you hold BTC or ETH? If you just had to choose between the two?
If you'd like to track your portfolio and keep it balanced please consider CoinTrackin.info
https://cointracking.info?ref=C669500 Consider using my referral link and you get a 10% discount on a years worth.
It's free for up to 200 trades then about $100 for a year's subscription (based on todays BTC price)
They have great reviews and are the most widely used Tracking system for cryptos. It automatically updates your balances as well.
Congratulations @bitwill! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThanks! Cheers!
Hey,, I started following you and voting your posts. Please follow me and vote my posts..
EVERY ACTION HAS A REACTION!!! Cheers 🥂
Sure Dave Happy new years and cheers back to you!
The cryptocurrency trading going to a high value day by day.It's not easy to say tomorrow where will go a single crypto coin.BTC is better than ETH.
Reasons to diversify not only one or two picks will WIN in the long run
yes
Cool stuff
That's true it changes daily, but if you zoom out and see it on a long term level (macro) it's up 1200% in 2017. You should look at it from a higher level of what the potential price can be monthly, quarterly and by year-end
This is what I want to avoid, getting headaches over the ups and downs of a rollercoaster ride. Micro level thinking (which is also good to look at at times when you're deeply analyzing large moves and overall strategy) will lead to this sort of pump and dump headache!