RE: Strategic Advantage: The right time to Buy Steem and Bitcoin

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Strategic Advantage: The right time to Buy Steem and Bitcoin

in motivation •  7 years ago 

I agree with you...almost all top coins are impacted by bitcoin upds and downs...bad indeed

motivation
7 years ago by

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      ·  7 years ago 

    Crypto market is full of amateur speculators who want to get rich fast without any experience in FA/TA, so as a result the whole market is moved by emotions which are heavily connected to what color BTC chart is.

    I'm totally agree with an importance of diversification and HODL over trading, but I would be very careful telling people to buy now, because:

    • we tested 6K only one time, which is not enough to be confident that we hit the bottom,
    • there was a storm of SEC subpoenas and the overall impact is still undervalued,
    • the situation with Tether is still very unclear and it can potentially crash the whole market at any given moment if Tether will be shut down.

    Slowly increasing a crypto portfolio with DCA (Dollar-Cost Averaging) would be a much safer choice for most amateur investors.

    Disclaimer: this is not a financial advice, do your own research.

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      ·  7 years ago 

    Here is another point - those articles are posted for hamsters that are easily manipulated by news that create FOMO and FUD and if they invest right now, it is possible to take out more sellers and get the price even lower.

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        ·  7 years ago 

      Sure, average Joe is always a source of liquidity for experienced whales on any market, this is why DCA + HODL is the safest approach for most crypto investors.

      Buying the dip is very lucrative during a huge uptrend, but since we have a bear market, it might be also a good choice to wait for a solid consolidation.

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          ·  7 years ago 

        Good view point indeed, thanks for your comment

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