Bitcoin is not that difficult, it goes up and down like the ocean, with smaller patterns of repeating waves. Surfers catch waves, they don't have to wait for high tide.
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Bitcoin is not that difficult, it goes up and down like the ocean, with smaller patterns of repeating waves. Surfers catch waves, they don't have to wait for high tide.
What happens if bitcoin goes down to $23k or so, while you are sitting at $20k to buy and then it rips from there not looking back on it's way to $60k and eventually to $100k? Was it worth missing out on a $77k in gains over $3k more to the downside?
This is my point in all of this. Even if someone sells BTC at $40k and then decides to wait until $20k to buy back in, even if they get that dip and get back in, it's still probably not the right move because if that drop doesn't play out exactly like you expect and it wont' more often than not, the gains you miss to the upside dwarf the money you might have saved on the downside. On a long enough timeline it's not a good strategy.
I am waiting for the tide to turn back to upwards after a solid down - I'm guessing that will happen somewhere between 30k and 20k (probably closer to 20), and when it does I'll get paddling!
Fair enough. Hopefully your strategy works out for you!