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RE: Market Manipulation and the Dive
I just wrote a post about it and wrote another one last week. I read about the report on ccn and lots of people are talking about it but it doesnt seem legit. There is always some news that is used to justify drop in crypto prices and this seems like that. USDT is continuously being printed and the audit is yet to be released so bitfinex and USDT are things to worry about. However, there have been enough positive news, since consensus because of which i am confortable hodling, infact buying when i can. The big money will come this year and most TA calls for 3k will not be proven right.
To me this is totally a question of timing, not whether to buy or hodl. I would rather not put in $20k today to see I have $15k by Saturday, and I do think that's something we could realistically see right now. I think one thing those of us really plugged in on crypto often forget is how much ahead we are of the rest of the market in terms of getting information. So many times I think the market has been shocked by something, only to find out that most people didn't even know yet. A week later the shock comes and the market reacts. So now I'm going much slower in my pacing, and expecting most others to know something 2-3 weeks after I do.
So for me, this is a time to hodl and not invest further. If I hadn't already invested as much as I really want to, I might be playing the edge and seeing if I can get some bargains right now, even if I get a better bargain tomorrow, better still next week, and so on. But I can't keep dollar cost averaging in right now given how fully invested I already am, so for me it's a question of waiting for a truly irresistible price for BTC or just letting my current investments have time to mature without my taking advantage of this current crisis of confidence in the market.
Yeah, I agree with you. If one is fully invested, then its best to wait and get the timing right. Wait for the confirmation of the bottom to set in and then buy. I waited all this while and wasn't going to invest if bitcoin was on its way up. I missed the previous falls so for me this is an opportunity to average again, only at lower prices. I am buying the dips but again, not going all in, as for me its difficult to take a call. but i do think, if btc falls to 5k, its worth taking a shot. but again, the strategy is very personal here. to each their own.
Agree on the bit that right now markets look crazy, there is high likelihood that btc will test the 5800 odd level again. and then most people are confident that its headed even lower. So best to get it right, and that's a perfectly sound strategy. i haven't seen people who aren't aware of these sharp falls. everyone i know, checks the market like their facebook account - very frequently. If you meant the news, then yeah maybe don't get to find the reasons at the right time.