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RE: To Buy or Not To Buy Crypto...

in #steemmonsters7 years ago

Hey Matt. I’m glad you got a breather and wrote this non tech post. Your topic hit the nail on the head with my sentiments about crypto investments. I started investing not too long ago when BTC dropped below $6k. I entered with BTC, switched to ETH , then diversified into alts. Initially I enjoyed some nice returns but didn’t have enough experience to set stop limits. It wasn’t long before I lost all of my gains and more when the market drastially plummeted. I kept hodling. It was a tough pill to swallow, but I learned my lesson.

Since then, my revised strategy is to buy into the red 5% after bottom occurs, then immediately sell after gaining 5-10%, then rinse and repeat. I plan to invest in cryptos very long term because I believe it will take 8-10 years for the solid coins to fruition. In the interim, while the market is displaying drastic volatility downward, I will take advantage of weekly small gains during this bear market until the bull re-appears. This trategy entails more work compared to your strategy, but I have fun doing it, so it’s more like a game for me. There will come a time when I will fully buy in and hodl but that time is not yet.

Thanks for sharing your thoughts on this important topic. I like seeing the non-tech side of you. Congrats on your achievements with SM thus far ans keep up the great work. Knock ‘em dead at the Boston convention.

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