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RE: If cryptocurency rises above January’s high, would you sell?
How to keep calm when price is high and take control of oneself not to buy ? How to stop being greedy when price is really high ? How to measure the degree of reasonably high ? 2x, 3x, 5x or 10x ?
If I invested let’s say $20k in bitcoin and if my investment gets to $60k, which is 3x, I will cash out $20k I invested and let ride all my profits until I retire. If you are buying at the top, don’t invest all of your money you put aside for your investment. Invest only 20%. If price gets lower, buy another 20%... This way your average price you bought at gets lower. It’s very important to believe in what you invest in. It’s very important to invest only what you can afford to loose. And it’s important to set your mind for long therm. That’s my plan, that’s not a financial advice.
Excellent ! I will follow your advice and seriously reconsider my investment in cryptos and generally all other assets. Thank you for your patience and wise in teaching me. Best wishes.