I’m Buying The Crypto Dip (my simple reason why)

This is NOT financial advice and neither am I calling you to invest in what I’m doing – I’m showing you what I’m doing and why I’m doing it.

Also, let me also stress that there is a high chance that crypto market as a whole can go lower.

Bitcoin (BTC) and Ethereum (ETH) can go down another 20-50%.

The top 10-15 crypto projects can drop another 40-60%

ALT coins can go down another 50-80%+.

Who knows?

My simplistic basis of re-entering the crypto market is really

  1. I fundamentally believe in the technology and emerging asset class of crypto. I’m taking an asset view AND utility view for the middle to long term. So 3-5++ years of hodling, I’m good with that. 10 years or part of my legacy also is considered.
  2. Bitcoin and Ethereum has gone down at least 65-70% of their recent at the highest (ATH), and I am unable to time the crypto market at all. I dont mind buying good assets with 65%+ deep discounts, and though they may dip more the next 6 months, I will just buy more and hodl my crypto bags.
  3. I have taken some profits back to fiat (never wrong to take profits).

My goal here is that I’m not able to time the market effectively to buy at the bottomest bottom (is there even such a term) and hence zero loss. Nope, I’m not that good (though I wish, lol)

I’m happy to buy good assets with steep discounts and wait for them to zoom up during the bull cycle again.

Resource

I use https://nigelchua.com/crypto (cryptodotcom) for most of my hodling

Cryptocurrency Boom Town 2021?

Today at this point in time, 1 Bitcoin (BTC) is USD$ 56,132.90, and it has been going up to upper tiers of USD$ 61K and having pullbacks to USD$ 50K+ over the last few weeks and months.

21 March 2021 Bitcoin Price
21 March 2021 Bitcoin Price

It seems to be testing the all time high (ATH).

There are lots of anticipation following buy-ins by larger companies such as Tesla and institutional investors (just google search institutional investors buying bitcoin), which leaves lesser and lesser number of actual available bitcoins to go around. This has two fold of results that drives bitcoin price up (and staying up):

  • signalling that big boys institutional investors are condoning / approving cryptocurrencies
  • stabilizing higher highers and higher lows because there is just less number of bitcoins being traded actively

These two factors make bitcoin even more desireable and stable.

I’m excited to see how far bitcoin and cryptocurrency will go. If you’re interested, it’s very easy now to invest / speculate into cryptocurrency – my #1 app is via Crypto.com App – everything is available via your mobile =)

Remember, cryptocurrency can fluctuate greatly, so put in only what you can afford to lose, dont day trade and dont sell your home for it.