The secret to being rich in our fast evolving world is to know what will happen tomorrow _ie to have the power to predict or forecast the future at 90+% accuracy. Conversely, however, there is no one that can predict the future at 90%+ accuracy even so called traders that read candle sticks or market fundamentals base their analysis on mere technical analysis, history, experience and luck.
The conundrum, however, is: do we know the right time to buy our top cryptocurrency? Are we sure that after buying it that there won’t be a sell off (red) leading to some loss? Here are some few points:
The conundrum, however, is: do we know the right time to buy our top cryptocurrency? Are we sure that after buying it that there won’t be a sell off (red) leading to some loss? Here are some few points:
Technical Analysts: according to CNBC news
The Bitcoin Misery Index says now is the time to buy :
Now is the time to buy bitcoin, according to a new "misery index" for the cryptocurrency created by a Wall Street strategist.
"When the bitcoin misery index is at 'misery' (below 27), bitcoin sees the best 12-month performance," Fundstrat Global Advisors co-founder Thomas Lee said in a Friday report. "A signal is generated about every year."
The bitcoin misery index is at 18.8, its lowest since Sept. 6, 2011, the report said.
Do you agree with the above analysis? Are you sure that bitcoin prices will not fall more and thus provide a better opportunity to entering the market? My simple strategy is to:
Buy Low and Hold(HODL): If you follow the strategy of buying low and holding in the long run (take some profits for diversification) then you will always be on the winning side. According to Warren Buffett , as an investors be fearful when others are greedy and greedy when others are fearful . Therefore this strategy will always help you to buy low ie when markets are down and sell when people are in FOMO mode .
Diversification: I will remiss if I do not indicate that diversification is the key: never lay all your eggs in one basket because doing so might lead to failure- especially during financial distress.
Therefore use opportunity when people are panic selling to pick some underlying beauties (undervalued coins/tokens) , invest the money you can afford to lose, remove greed / emotions and hold (HODL).
Therefore use opportunity when people are panic selling to pick some underlying beauties (undervalued coins/tokens) , invest the money you can afford to lose, remove greed / emotions and hold (HODL).
I wish you all success and a blessed weekend.
