Feds raise fees by 75 basis points
With feds increasing interest rates and both the stock market and crypto markets seemingly on meltdown (at this time in writing, bitcoin is hovering around $20K, which is “peak” of 2017 and down 60% from all time high of $65K).
…which brings about some questions:
- Is it time to buy the dip?
- Should we buy the dip?
- When is it time to buy the dip?
Short answer: Who knows?
I take the approach of first dollar-cost-average (DCA) which means that if the market goes down, my pre-set budget buys.
If the market goes up, my pre-set budget buys.
I dont like or want to spend too much time looking at charts and being too absorbed or up-and-down monitoring the market (which I am very guilty of lol). 2nd approach is when I have extra surplus, I do extra investing as prices dip.
That’s pretty much most of it.
Reports show that time IN the market is more important than timing the market, and I am definitely not smart enough to time the market at all.
I use https://nigelchua.com/crypto (cryptodotcom) for most of my hodling
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
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