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RE: What will you do if bitcoin hits $250,000?

in LeoFinance3 years ago (edited)

Well, crypto has crazy volatility so it's good to have a plan just in case the 2013 and 2017 end of year bullruns repeat. I was new to crypto when the 2017 bullrun and following crash happened, so I didn't have the knowledge about market psychology and cycles, so I didn't take advantage of it. Now though, I'm much more wiser, and am planning to take profits as well, to eventually by back again with cheap prices. I'm powering down HIVE just in case something similar happens as in January 2018 when steem went vertical, so I can buy back cheaper.

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It's always good to keep some on the side. For me now it's a little less than 10% but that's ok, I'm happy to make a 2x on 10% and flip that back later. I like what my voting power does :-)

Bitcoin on the other hand....I'm still feeling a little doubtful that 4 year cycles are going to continue being a thing. At some point the amount of bitcoin mined per year becomes irrelevant because the demand is too high, and I think we may already be there. It's still possible that things will resemble 2013 and 2017 but I'm open to the possibility that OCT NOV and DEC of 2017 will take all of now til this time next year and have less of a bear. I'm also open to the possibility of massive engineered FUD like we've never seen.

The lengthening cycle is my favorite theory right now.