Bitcoin and ETH Price Action Updates And Ongoing Thoughts (#4)
BTC:
After trading around US$2,800, BTC is now around $2,050. Our reader will not be surprised. Yes, it is a big percentage drop, and if you bought at $2,800 with all the optimism, you now feel like shit. We have been hoping the price pullback for over 10 days now. Every sizable pullback is a buying opportunity for us bulls. This is no bubble.
I don't do a prediction or forecast service, but I'd only advise buying after the price drops another $500 or more. Let the market tell us what to do. Actually, I love the market, as it is just like an unpaid intern doing all the research and gives me buying signals for free!
I will not look at my account value balance. It's for long-term, and any difference today wouldn't mean anything 5 years from now.
Meanwhile, I try to enjoy myself with some smart design ideas.
love the attitude @longnshort, itll bounce back!
Thank you, @jawdy! It's not only an attitude or a wishful thinking. It's the simple and most effective trading/investing mentality.
Yes, it will bounce back, to be so much more valuable than we can imagine today. Before that, more 'suffering.'
love that @longnshort, to the moon my friend!
To the moon, indeed. Cheers!
People need to have some conviction as well as a plan to go forward. I just wrote this which is along the same lines and complements as your article. https://steemit.com/money/@motowngold/do-not-sell-your-gold-for-bitcoin-do-diversify
Good article. But I personally don't know many people who buy #bitcoin also hold #gold.
They seem to me to be totally different breeds of investors. I could be wrong.
You actually are probably correct, that is what I am trying to help people to realize is that diversifying is what most people need to do and are not currently doing.
Right on!
Also, tell them don't confuse 'trading, or speculating' as 'investing!' One must know which one he is undertaking for any transaction.
That is exactly correct. I have long term positions I am invested in, and trading positions I may switch out of at a moments notice, these are totally different!
you're a pro!