Hi Mark - thanks for the Sunday update. I understand from your post and previous posts that we may well see some extended bleeding out of the market over the next few months but this still should be understood as being within the larger uptrend. I believe you mentioned that for somebody sitting on 800% they shouldn’t worry and we may find ourselves in the buying zone again soon.
I am a bit later to the party and am sitting on something more like 80% - clearly you don’t have a crystal ball but would say the next few months present an opportunity for somebody to make some low volume select trades to increase their holding ahead of the next big rise? I’m not interested in trading but thinking how I can pick the right 3-4 opportunities per year to buy and sell.
That's a good question. It's hard to justify selling a rising asset in the middle of a macro bull trend while risk-adjusted yields on every other financial asset plummet. I wish I could advise you better.
I can tell you for myself I focus on bringing more cash into the market when it's depressed, building and accumulating a larger stake in bitcoin and the altcoins I like, and then letting the overall rising tide lift me up. So in your shoes I would figure out how to raise cash, then wait for the right opportunity and accept any money I already put into the market as an investment to HODL. Of course, I'm not you :-)
Yes the opportunity is there to trade, competent traders can do amazingly well in this market, far better than I can, and that's a skill that takes years to learn (even though a handful of people can probably pick it up much faster). As you can probably tell I'm more conservative than most but when bitcoin moves into the buying zone I am very aggressive, simply because the opportunity is so massive.
On the margin is a damned fine podcast. Thx
Hi Mark - thanks for the Sunday update. I understand from your post and previous posts that we may well see some extended bleeding out of the market over the next few months but this still should be understood as being within the larger uptrend. I believe you mentioned that for somebody sitting on 800% they shouldn’t worry and we may find ourselves in the buying zone again soon.
I am a bit later to the party and am sitting on something more like 80% - clearly you don’t have a crystal ball but would say the next few months present an opportunity for somebody to make some low volume select trades to increase their holding ahead of the next big rise? I’m not interested in trading but thinking how I can pick the right 3-4 opportunities per year to buy and sell.
That's a good question. It's hard to justify selling a rising asset in the middle of a macro bull trend while risk-adjusted yields on every other financial asset plummet. I wish I could advise you better.
I can tell you for myself I focus on bringing more cash into the market when it's depressed, building and accumulating a larger stake in bitcoin and the altcoins I like, and then letting the overall rising tide lift me up. So in your shoes I would figure out how to raise cash, then wait for the right opportunity and accept any money I already put into the market as an investment to HODL. Of course, I'm not you :-)
Yes the opportunity is there to trade, competent traders can do amazingly well in this market, far better than I can, and that's a skill that takes years to learn (even though a handful of people can probably pick it up much faster). As you can probably tell I'm more conservative than most but when bitcoin moves into the buying zone I am very aggressive, simply because the opportunity is so massive.
Cheers Mark - Appreciate the response. Seems like it’s a matter of being patient and choosing the right time.
That's my general outlook.