My apologies, it’s been awhile since my last post. The last time you heard from me, I was prognosticating that the Bitcoin bear market attack would continue for awhile.
At the time, my expectation was that we would see a turnaround in February. That briefly happened with Bitcoin’s rise up to $4100 levels, but it did not last. Bitcoin is now back down to it’s $3xxx levels.
Months of stability at these levels is a good thing overall.
Instead of dying of boredom from the market price, you may be able to find some short term alt coin plays. If you have been following me on the leaderboard, you’d know that after winning on some and losing on others, this can be pretty risky right now.
I moved to cash on here after the risk became too great. We don’t get unlimited money to use on the Leaderboard, so conservation is key.
In real life, what I’ve been doing is Dollar Cost Averaging (DCA) into Bitcoin. I have setup weekly and bi-weekly buys to slowly accumulate more BTC while it ramps up and ramps down within that $3xxx-$4xxx window.
My recommendation for the majority of investors right now is to do DCA for the assets you believe in. I am not a financial advisor. Only invest what you can lose, etc. etc.
If you can figure this out, please let me know. Charting has been pretty much eliminated as a good predictor as I do believe this is a manipulated market currently. Charting is how my risk tolerance was exceeded back in December. Useful tool (really the best one), but far from a sure thing.
Tax season is coming! Don’t forget to add your crypto transactions to your taxes. For most of you, it’ll be a very nice write-off this year.
I’ve been working on my long-promised 3rd book in the How Anyone Can Invest series. During the bear market, it’s caused me to reconsider another wide-ranging book like Volume 2 and instead do another shorter version to discuss the bear market instead. This will be my next release with an updated Volume 3 in the series coming out in the next year. By then we should be in another bull market, when new investors will need that kind of guide.
The working title for my next book is “Attack of the Bear Market”. Just wait to see the cover art for that one.
Until next time, keep stacking BTC and stay calm.