Pullback is here
Now that we are seeing a dip of bitcoin. It's interesting to decide when to sell your hedge back into Bitcoin or not. I posted how I lost out in the Bitcoin gains over the year. I decided to just balance bitcoin and a precious metal in that account. Just to see what happens. Rather than "taking profit" and "buying the dips", I am just keeping 50%/50%. The discussion on the exact math for that is here. It takes into account VaultOro's fees.
Right now, the silver which was previously 50% of the value will be somewhat higher.
Suppose it pulls back to 50k, the silver will make up even more of the value. I will rebalance the portfolio. To do that, I sell some of the silver such that the silver makes up 50% of the value.
This is tame volatility so far. Bring it on.
I wanted to tell you this yesterday when I've read your post...but I'll do it now.
I love the picture with you grounding peacefully.
That is if you have some usdt
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If you have all of your worth in Bitcoin at the momemnt and you don't mind risking some of your money by leaving it on an exchange, you could buy a leveraged amount of bitcoin. There are options like Bitcoin3x, where if the price of bitcoin goes up 10% this asset goes up by 30%. For myself, I hate leaving my money on an exchange. It's like bank but without the insurance of a bank, and accounts with all the risks of bailins and hacks. Amoung these risks is that you might not be able to access because your 2fa tokens break (or something breaks on their side) at the same time or the kaptcha server is not available, and so you cannot prove you're human and you cannot get in.
not your keys, not your coins.
Not your cash. Not your fiat.
I like now Jim Rickards says it.
You don't have $$$ in the bank, you have a bank statement.
The bank has $$$.
You have to ask the bank for permission to get those $$$.
You don't have $$$ in stocks and bonds, you have a brokerage statement.
The broker has stocks and bonds.
You have to ask the brokerage for permission to get those stocks and bonds converted to $$$.
And when everyone calls and wants their $$$ at the same time, what do you think those institutions are going to do?
And how much do you think those stocks and bonds are going to be worth when everyone wants $$$ at the same time?