I recently appeared on Mr. M’s podcast where I and the host, Maurizio, (Mr. M), discussed some of the more nuanced realities surrounding bitcoin investing.
Maurizio asked me to the show so that we could discuss a topic. Take The title of my article last week was “Don’t Buy The Bitcoin Dip“, in which I stated that the bitcoin bull market has been going on for more than two years now and that it is probably not the right time to buy large amounts of bitcoin. Please note that I did not encourage anyone in my article to sell bitcoins, or suggest they stop dollar cost averaging the asset.
The article was discussed, and we also covered some of the other aspects that are involved in investing bitcoin. These topics don’t get mentioned very often. To tease the upcoming episode, I decided to share some key bullet points.
When you buy bitcoins, you have the following options:
- It’s best to sell bitcoins when the price is higher.
- It is better to have a small cash cushion than to invest all your money in bitcoin. Bitcoin can be volatile, and a little buffer will help you stay calm.
- It’s important to consider the timing of your bitcoin purchase. The price fluctuates between bull and bear markets, so it’s better to invest during these periods.
These points are important because I often hear louder voices within the Bitcoin community broadcasting messages such as “Buy the dip” You can also find out more about “Never selling!” What Bitcoin Did: Episode “My favorite example” is this episode.Buy the Fucking DipThis article was written at the peak of the 2021 bull run. It warned anyone who is new or might be tempted to sell or spend bitcoins during this bull phase.
Without selling some bitcoin in the later part of previous bull runs, I would have not had the financial cushion that allowed me to find work as a Bitcoin expert. Now I write articles for Bitcoin Magazine to make a living. because What happened when I sold my Bitcoin?
Please understand that Bitcoin can be utilized in many ways. Consider your own life situation and decide how you want to utilize your bitcoin. Listen to your own gut feelings and don’t listen to the HODLers.
This is not a good article. Take. Opinions are those of the individual author and may not reflect BTC Inc.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
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Source: bitcoinmagazine.com
