Fuck posted in the wrong section. Mods, can you please move?Anybody on here have experience buying and making money on btc? Closed a pretty big transaction recently and thinking about throwing a chunk of money into btc and wanted some guidance on the basics.
Dollar cost avg in. Don't buy in large chunks. btc is going through a halving in April. So it's going to be pretty volatile. I'm expecting a pull back in next 2 weeks before it continues up.
Don't try to buy in at top/bottom. Buy daily, weekly, etc.
Really only other one I mess with is Binance Coin because most of my online gambling uses itDo you fuck with any of those other ones like litecoin, ethereum, etc? My old boss who killed it with btc and is very savvy financially said he just buys straight up btc
Really only other one I mess with is Binance Coin because most of my online gambling uses it
I think there are going to be lots of valid crypto coins in the future but also lots that will go bunk. Crazy money can be made but crazy money can be lost too.
Its all about risk tolerance. For me DCA is not ideal for crypto due to the volatile nature of the market and its too safe in a sense for my personality. For example this month, BTC is up 13.5%. The fed rate for a 1 year CD topped out at around 6%, and depending on the CD you cannot touch that money without penalty until the CD matures. On Feb 12, BTC was around 51k, i didnt see it dropping below 50k so i bought in. I told myself ok, when this hits 65k, im out. That happened the first week of March, eventually topping out at 72k ish. So did i leave some profit on the table, yes, but i captured a big return in less than a month. Now you have to pay attention to the market analysis from "experts" but its much like gym advice where i say "hear everything and listen to nothing". Many are calling for BTC to hit 100k per coin by July while others see a retraction to 50k.
The market has changed significantly recently since the introduction of ETF's (spot). So many "investors" have tried applying typical KPI's and outdated methods to take advantage of trends and its not ending well for them. So many things affect crypto, geo political events, regualtion, FED rates, Forex, value of the dollar etc. Its so speculative that nobody "knows anything".
A simple way to look at it is if you are bullish on BTC or crypto long term and you want to play safe then DCA is a good play. The returns will not be as high in the short term, especially because you wont be selling and taking profits but rather holding. If you are more aggresive in nature and are looking for larger returns with potential short term downside then buying on a dip and exiting, picking and popping is the move.
If you think gaming is what is driving Nvidia's stocks, you're in for a delightful surpriseAs long as kids are gaming Nvidia will be a winner.
We saw a nice little reset today in BTC. My guess is the long players were squeezed for their leverage. With the halving coming up in mid to late April im looking out for another dip-58-63k'ish before that. We have seen these "priced in" moments when BTC gets a spike a few days ahead of events like this and the ETF approvals followed by another "breakout" 3-8 days AFTER. With all of that said i will also watch the stock market for any bull market acceleration as BTC has followed those tail winds so many times. Again, all a guess, purely speculative. Its anyones guess. I try to make the best educated guess.
* this is NOT investment advice- speak to a professional. LOL
If you're interested in investing it BTC you can also buy $BITO or other ETF's. Or $GBTC. $ETHE for ETH... I would not be buying at these levels tbh. If you're holding long-term, its best to buy when its oversold.
You wanna pay full price or get a discount?
ETF's and/or $GBTC/$ETHE are much cheaper to trade/invest in too. Almost free actually, like with stocks these days, depending on broker
It makes me smile that we have brothers who are smart enough or at least capable of investing. I have one simple rule, its like the line from Scarface, "you dont get high on your own supply", i never tell anyone what they should or shouldn't do. I learned that the hard way by listening to a close friend of mine in my early years who didnt know what he was doing or saying and it kept me captive to his approval and stunted my growth. I still cant let go of some of the opportunities i missed when i listened to him rather than following my own intuition. FB,MSFT,AAPL, all examples. I was looking at call options and had i made my trades, lets just say i wouldnt have been eating canned tuna and non organic produce for years back then. Instead, now I wait until after i make a trade and if asked i share my positions. I will never do what that fool did to me. BTW, we are still friends. lol. I call him "the idiot".I just put about 12k in stake on AMD and NVIDEA, 2 huge AI/tech companies.
Btc is down about 6% right now- should i wait til it drops to around ~10% to strike? My buddy also said its going to have, he told me exactly 20 days after Easter, so id like to pull the trigger on 5-10k more before that and then just let it sit through the summer at least.
If you think gaming is what is driving Nvidia's stocks, you're in for a delightful surprise
They've nestled themselves as a pioneer of a little thing called AI.
It makes me smile that we have brothers who are smart enough or at least capable of investing. I have one simple rule, its like the line from Scarface, "you dont get high on your own supply", i never tell anyone what they should or shouldn't do. I learned that the hard way by listening to a close friend of mine in my early years who didnt know what he was doing or saying and it kept me captive to his approval and stunted my growth. I still cant let go of some of the opportunities i missed when i listened to him rather than following my own intuition. FB,MSFT,AAPL, all examples. I was looking at call options and had i made my trades, lets just say i wouldnt have been eating canned tuna and non organic produce for years back then. Instead, now I wait until after i make a trade and if asked i share my positions. I will never do what that fool did to me. BTW, we are still friends. lol. I call him "the idiot".
I'm not sure how old you are or how much experience you already have but I can tell by the way you are thinking that you have an interest in investments and you realize strategy is a part of it and I trust that experience will dictate your success. You have to learn from mistakes and strengthen your weaknesses, much like what you do to attain your physique and all that goes into beyond just lifting weights and taking gear. At least thats how things SHOULD work in this business. I hope i dont sound condescending or like I have a big head. I find being positive and supportive is the best way to approach any conversation, some people can take that the wrong way.