Yup, now is NOT the time to be selling. It might go lower but when it turns back around, it will probably move fairly quickly and if you miss the turnaround, you will probably end up buying in at higher prices than you sold. HODLers are proven to be the most successful investors. Don't believe me. Do your own research. There are lots of very smart people out there telling you the same thing. Cathie Wood, for instance, says this is the capitulation stage and she still thinks $500k for bitcoin is in the cards. Focus on the size of your position, not the dollar amount.
Good write-up! I look forward to next week.
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I believe this time is the best time to be buying as the market seems to have dipped enough and it is ready for a bullish run...
Never try to catch a falling knife, nor a shooting star!
Sit on my hands and prevent myself from making impulsive decisions I will regret later.
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Yes, but it's no longer a falling knife. It is now about a stable as it gets. Not saying much, I know. But it's spent the last couple days consolidating in the mid to upper 30's. I've gone on record in other places saying I think their will be one more "scare" before it starts taking off but...who knows? It's very possible we've seen the bottom just above $30k. I don't think it's any longer an "impulsive" decision to be adding pieces at these levels. I'm not saying go all in. I'm just saying that in my opinion, if you ultimately want to own more bitcoin, now is a great time to be piecing your way in.
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