I sold some mining returns in the 9-10k range recently and rebought half of them at $8,200. My other buy was set for $7,200, but with stock market and oil nosediving I am reconsidering.
I sold some mining returns in the 9-10k range recently and rebought half of them at $8,200. My other buy was set for $7,200, but with stock market and oil nosediving I am reconsidering.
I mean... if it dips under $7400 you could just sell. It's pretty low risk to buy in right now and dump if the exponential support line gets broken... it never does.
I ended up pulling the trigger at 6k this morning so my buyback average was around $7,100. Short-term plan is to hold onto those pieces and buy more if price crashes while mining for cash until I can trade those pieces for profit.
I feel like it is so risky to mess around with crypto right now when they are actively preventing the stock market from dumping too far on a daily basis. Then again I also believe that the slightest amount of stabilization could push Bitcoin back up to the doubling line at $7700 really quickly. The volatility involved is going to be insane going forward. I need a new strategy to lower volatility.
I've still got some limit buys that haven't triggered from the last time it went to 3k, so I'm willing to buy much lower, but I enjoying playing around trading mining returns wherever the market is.
I feel like it's gonna get to 3k again.