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Buy low, sell high, why is that so complicated? Emotion is a mutha fucker and will destroy your profits, don't be driven by it. Focus on the tangible not your feelings.
Yeah because it is always wise to grap the falling knife... (I don't believe that Bitcoin is falling knife, just speaking in general.)
That's not what "buy low, sell high" means. In fact, the two are incompatible. If done right, buy low is precisely not catching a
falling knife, but picking it up from the floor.
Well, it's all just metaphors anyway.
What I really don't get is the "I'll hold, no matter what" stance a lot of people seem to take. Ultimately, it probably runs down to the difference between
investors and
speculators. The former believe in the product itself, and would somehow consider it treason to sell their entire position, the latter are agnostic about the product itself, and just try to make a profit.
I strongly suggest to break down this distinction in your mind.
Even if you believe in a bright future for bitcoin, i.e. you have reasons to be an "investor", there is absolutely nothing wrong with going short now, to buy back cheaper later. It's not without risk, but if you keep in mind not to be too greedy and wait too long to buy back, you'll be fine. Because, be honest with yourself: does it really look like the price is going to skyrocket tomorrow? Probably not.
Sell now. Buy back later. You'll sleep better, and your total amount of btc will be higher in addition.
