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RE: Remember HODL is NOT a Strategy!

in GEMS4 years ago

Well my post wasn't about Bitcoin but more to do with my conversation with an acquaintance about altcoins. But even with Bitcoin there is a time to buy and time to sell. It's a very volatile asset class, and far from a stable store of value. That theory is totally out of the window after the crash in March if it wasn't already before that–I say this even as I hodl some myself from a long time.

Bitcoin or any crypto asset is something most people don't fully understand what to do with anyways. You could pass down gold and even Bitcoin today. But if you bought gold 300 years ago it would be worth a LOT more than if you bought bitcoin at the height of the 2017 bull run. That's my point.

While one cannot time the market, it's always good to protect your capital. If one wants to simply accumulate Bitcoin irrespective of what the price will in the short term then its fine, its on them really. Just that its good not to expect it to go 100K just because we entered the market today.

There's our point of entry and where the price is in the overall cycle of the market to consider too and knowing what to do with the latter is very important as it can make or break your portfolio. :)