Timing is indeed, everything. Although the cryptocurrency craze has been hot for some time, those getting involved with Bitcoin or other ICOs over the past few months may be feeling some pain. Those that bought in at $4-5000 a token are experiencing huge losses.
Compare this to investors who purchased Bitcoin back in January or February. Even with the 35% pullback, these fortunate souls are still sitting on large potential gains.
So what now? Is the timing right to make that first purchase, or to add to your portfolio? Or is it time to sell, collect what profits remain, or to remain on the sidelines awaiting a lower price to get in?
Timing. It can make or break you in so many ways, but we never know until it has passed. Cheers!
Very interesting example. I agree that right timing can never be predicted with certainty, but the crypto market is actually a great example of learning how to master the art of timing. The right timing = buying when the price drops and everyone else would get scared, buy low and sell high. It's the one strategy that works.. great traders are actually "timing artists" if you will so..
Nice one: "timing artists"