Sunday night into Monday morning we did see a very short lived rally but that rally seems to be fueled buy some big quick buys and then fell flat again.
It almost seems like institutions are gearing up for some big bucks in December and into 2019 as they pick up bitcoin for a fraction of what people bought in last year.
One way you can reduce your risk is actually buy holding and buying more.
Lets say I bought bitcoin at 10,000 and bought 1 of them $10,000 total.
If I buy in now at $3,8000 and buy 1 more I now reduce my cost per down to $6,900 so my break even which was $10,000 is now just $6,900
If I buy 2 more instead my cost per is now $5,866 break even and slowly reduces from there.
This can be very helpful when everyone else is in panic mode and markets are being over sold picking up a few low cost coins can net you some awesome results for those holding long.
Let me tell you holding long is the name of the game as well. From what I can tell if you hold for more then 1 year it is a long term investment and gets taxed at a lower percent then if you where to sell and buy again.
- Please note this is not professional advice or tax advice please seek a tax professional etc before making your choices.
What we saw was about a 30 minute time frame where a bunch of bitcoin was bought from $3,400 roughly all the way back up to about $4,000 and now dipping again. It was a quick grab.
I would highly suggest if you believe in bitcoin its time to buy at some of these lower prices. We all have seen what just a little money in bitcoin can do. The road to 1 trillion will be 2019!
slowly adding .thanks
I also believe in holding. As a new steemian all the down falling demotivating me.
Let's hope for the price rise.
It demotivates a lot of people but now is when you should be working harder then ever to be ahead of the game when the prices climb
Thanks for your wise advise.
try to buy more my self at the moment.
Very hard to time true bottoms, much easier to spread buying out over obvious periods of lows. Probably going lower for longer, but still a good time to stack bits, won’t be a lot of time to accumulate when the dollar breaks
If I have more money ... I buy ... but I not have ... so I try make posts here :)
I hope you get 3 or 5 more BTC :) And also some steem :)
Is bitcoin core the real bitcoin? With the addition of bitcoin sv now will it be able to hold it's position or will the selling of bitcoin continue?
Stocking up. Not scared. I've seen a bearish market before.
Posted using Partiko Android
we seen worst few years back. this is nothing.
Interesting proposal, we all expect an increase in value for December.
No we definitely do not all expect an increase. What about the rest of the economic environment suggests bitcoin is about to increase in value?
It is also dangerous as you lose more but I see your point.
The issue is that most investors already dollar cost weighted their positions...
Posted using Partiko iOS
I am stocking up, next year my bags will be huge and it will all be worth it!
Posted using Partiko Android
I've been buying my STEEM all the way down from $1 and happy to do it. Just picked up my last bunch at 0.32c which i think is unreal value. If it drops to 20c i'll buy again.
Im dropping bitcoin like a hot potato. There is more hope for Dogecoin than anything associated with BTC. My bet is on ETH coins. Im stocking up on TRX too.
Hodl is my key strategy. in General i am not too worried about this bear market. Even though some people are panicking. Some people even leaving the space. It is all about dedication and patience. Thanks for sharing.
I have held since 2016 and did take some off early 2018 (luckily) but am getting more interesting in buying some back soon. I have already started buying some more Ether and Litecoin down here.
Posted using Partiko iOS
Or you can sell now and cut your losses. :D....Well of course I won't be doing it. Just saying...lol