BUY TIME -- When is it buy time in cryptocurrency? --- It's buy time when you don't see the bottom
This is NOT investment advice. However, it is investment talk. You might LEARN something. :)
IF YOU LOOK AT THE IMAGE - BUY TIME IS WHEN THE MARKETS LOOK SICK
...However, you might not understand that, unless you read this post.
Lets get the important stuff out of the way.
- I am not an expert
- Nothing I say should be received as investment advice
- I could be wrong
- Your money and your investment strategy is totally your own decision.
Here's the obvious... and sometimes it isn't obvious until someone points it out:
- When an investment, like Bitcoin is on an uptrend. It is increasing in value every single day, and every single week, people become experts saying "wow! look at the value of Bitcoin grow! I'm investing my money for sure!"
...that is how anyone with a working brain can make money. When something is mooning and constantly increasing in value.. any idiot off the street knows it is a good deal and a good investment.
HERE is where that changes...
When you've doubled your investment, people take profits, sell off a bit... and what do they do? They enjoy the profits. They party - they buy something - they go out to dinner....
What smart people do, is take profits, put it aside, and wait for the market to go through a major correction and re-invest those profits.
Right about now.. while the markets and prices look sick, and you'd have to be insane to invest while it is still dropping.. there are people right now re-investing those profits knowing it will eventually go back up.
BUY LOW, SELL HIGH RIGHT?
- Often people think, "you have to buy at the utmost bottom" and sell again at the "very top"
Nah...
Just buy lower than you plan to sell... and that means profit.
How low will Bitcoin and the rest of the alt-coins go? Who knows.
Now knowing what I've just said... While coinmarketcap shows everything in the red, let me ask you:
- Is it sell time?
- Or buy time?
You decide.
All I know, from my own personal experience is that when the market is green, and everything is increasing, everyone loves to buy, wait, and sell higher.
When the market is red, and dropping, people panic and complain.
It's a keen investor that sees those red market opportunities and is ready and waiting for that opportunity.
The reason markets drop so drastically (again, my opinion) is that it is only the keen and cunning investors who take advantage of those times... and that's what people call trader "whales".
So the next time you pull up coinmarketcap.com and look at how Bitcoin, Steem, or BTS is doing... and it looks awful... you might be missing a buy opportunity.
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To clarify -- what is a buy opportunity?
Feed some of your fiat cash into the system, whether it be $50, or $500 and buy low, and wait to sell high
Trading is always a gamble. Never borrow, or invest more than you can afford to lose -- remember that...
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Again, to make what I wrote clear - I am not an expert. But if you see value in anything I said... and read all of this in its entirety, you might (or might not) agree with me.
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To the trader "whales" reading this post -- you can't do what you do, unless support comes from speculators in the market. I am not giving away your secrets. Maybe 30 or 40 people might read this post... It helps bring more liquidity and support to the market if they have an idea of what you already know. :)
If Steem hits $1 I think you should panic buy. lol Maybe even at $1.50 begin the process. lol
It looks like you bought some Steem.
yup! buy when theres blood! And steem inflation rate for the next 30 years still never reaches 1 billion tokens, so i dont see why steem couldnt potentially become 4 times the value of EOS current $10 value, $40 steem is more than realistic, its still undervalued there, $100 steem will be a good stable point to plateau for a year or two. We can even backslide to $50 and itd be fine. we just need a few good whales who buy up so much steem but also never power down more than the market price can handle, they just slowly sell their profits off when they make them... THEN we can see Steem go way up and stay up.. its all just supply and demand and as we power up the remaining 78 million liquid steem that isnt yet powered uop out of aprox 260+million total steem tokens, we can make steems price go up nd up[. if we get that 78 million steem number down to just a few million by powering up 76 million or around 100-120 million dollrs worth of steem... yeah i think we can do that... that would make steem SO rarte at just a few million tokens left at all that Less than a million maybe even less than a hundred thousand tokens would even be LEFT on bittrex etc and each one would have to be worth so much more to make up our futuire marketcap!
At that point people would HAVE to power down or wait for rewwards to get new steem to sell so =it would be SO hard to get lartge stakes that as LONG As the large whales keep holding we will end up with $100 to $1000 steem because only 20 so million steem a year will be produced and in a few years the amount of new steem will go down and we will end up with less and less from the reward pool. With current inflation its actually amazing that with 700,000+ New steem created every week that we can still maintain our price at all! we have like 7-8% inflation and shrinking but still its pretty high for a currency and yet we STILL maintain our price PRETTY well and its just pretty damn nice to see how well steem blockchain si able to get away with printing its own money, but we do it better and more fair and SMARTER and more SUSTAINABLE than the federal reserve could ever hope to print their dollars!
and @intelliguy nice article upvoted and got you a @tytran upvote
There is a lot holding Steem back but I think it will moon eventually.
Looks like you bought a little. lol You don't self upvote or use @dustsweeper?
Personally, I believe that this is the right time to buy Cryptos, especially good coins at a superb low price, like STEEM, ETH or ADA. Have you bought some?
A little, yes, I have a desire to buy a lot more if I could afford it. :)
i know you will probably think its too high but also EOS is cheap, time will show that it is still very cheap around $10
I see $1000 EOS as reality in the next few years, Novogratz and his 20 trillion dollar coinmarketcap comment is almost like a self fulfilling prophecy, hes almost kind of manifesting that number into existance by saying it and creatying the confidence that leads to the investors buying enough crypto to accelerate it into a snowball effect as fiat starts to crash and as another big 2008 style financial crisis occurs, crypto will be seen as the new safe haven and it will just be incredible what happens in crypto in the future if we do see a period where fiat starts collapsing OR legacy markets start crashing but crypto stays bullish and starts to actually be seen as a safe haven.,
in venezuela and zimbabwe bitcoin and crypto is already a safe haven and that should be enough to give us a glimpse of the future of fiat everywhere. If people were smart like us they'd know that, but most people are not so dont get upset when you see how few crypto people are. and prices being low is good for us the true believers as our numbers shrink thats more and more cheap crypto left for us! if enough people jump off the sinking ship, it may retain its buoyancy again ;)
I feel like we should accept that we are the new elite, intellectual and financial and the majority of people will NEVER get on board because they are followers and it will take us getting so rich we buy up all the worlds media and then the worlds masses listen to US
Yes I agree, EOS can be a great choice for the future. I have bought some recently also :)
It's been one year since I first got into cryptos. At about this time last year, BTC and the others were seeing a severe correction. It went on until the middle of July and many were depressed. At that time, BTC was at $2,600 and sliding. Some people were fearful it go below $1,000 again. Which was definitely possible.
Coming in with fresh capital, I decided on this strategy: Averaging. That is, buying at different levels and not in one shot. The first buy was at $2,200. It went down. So I bought some more at the lower price... until it was $1,800. It's no fun seeing my portfolio value in the minus but I decided to just hold on to the averaging strategy. Well, I was vindicated when BTC not only rebounded but went on to create new highs over that exhilarating 6-7 month period.
With averaging, remember to also sell during an uptrend to lock in profits. Regardless of what some may say about it going to $50k or whatever, it's always good to have some of our capital in fiat. For times like this when things are cheap.
Yes.. when there are bargain opportunities like this... having some fiat ready to move is very important. I fully agree with you.
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I'd probably invest at least some amount, but my bank is kind of a bitch, so I'd rather not go through the effort, especially because I don't know that many places that well where I could exchange my 'old fashioned money' for that sweet 'new generation crypto money'. Trading crypto for other crypto is super easy, but since they mostly rise and fall in value together there is not too much of a point in that.
Right now is an incredible time to buy. It may always go lower, but the risk to reward ratio is pretty high reward relatively low risk.
I was able to make some good profits when the market bounced in April and were at or below similar levels we were at back then as well. Don't know if it will happen, but looking for the 1 day candle with the big dump and long wick on the bottom before I start making my purchases.
Thanks for the information sir.