This is why you don't try and time the market with Bitcoin...steemCreated with Sketch.

in #bitcoin5 years ago

Historically, it has been a bad idea to try and time the bitcoin market.

Why do I say that you might ask?

Well for one, our friends at Fundstrat showed us how historically bitcoin makes all its gains for the year during its 10 best trading days of they year.

If you remove those 10 best days, bitcoin returns a negative 20% every year.

Wow!

If you want some further proof, check this out...

This latest surge is one of the fastest ever for bitcoin:

(Source: https://twitter.com/TuurDemeester/status/1136347610485313543)

As you can see, bitcoin has basically shot up without much of a pullback at all.

If you took profits at say $4k or $5k hoping to get back in on a dip, you likely missed the vast majority of the move.

Which is further proof why it makes sense to buy on dips and then pick an appropriate target of when you would like to sell.

Keep in mind that bitcoin has never not made a new high...

Which means...

A target higher than the previous all time highs makes a lot of sense, especially if bitcoin only makes up a small portion of your investing portfolio.

Stay informed my friends.

-Doc

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Uncommon work! you simply need to make such sort of more posts least 4 per day to manufacture solid dynamic network and get increasingly positive reaction and notoriety on steemit.

Extraordinary Work! I think you battle hard for good.

I have always tried to battle hard for good.

Timing any market is a loser strategy me thinks 🧐

In most cases yes. The very best of the best can do it, sort of, but overall most are better off just getting in and holding if they think something is eventually going to go up.

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Agree you can never time everything perfect but if you can get close, that's excellent

There are clues as to when a market may be turning which can help. Though it requires a good amount of skill/ability. Most fail when they try to do this. There are exceptions but the vast majority would end up making more money by just holding...

While I may regret not selling at $20k, I am still glad I have held since 2017! Long term vision equals holding until the potential is realized.

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If you have been buying the dip you will have that much more the next time it gets to $20k.

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