Bitcoin price seems to be taking u turn. Few months back it fell from the heights of the sky, if not to the depth of the sea; but certainly to the levels of earth. Many investors burnt their fingures in this dive. Many new investors have to face big loses which they hope to recover when price rises.
I have little experience in stocks markets and the circumstances here in bitcoin / crypto currency market are not much different. So I share my views here. May be some members having better opinions / views / experience; are welcome to share with all'
Now after long recession in the market; bitcoin has started looking upwards. In my opinion this is the time when one should enter in the market. If you are interested in medium term investment; you should start now. Because once the price rise to higher levels coins will be costing you higher.
First of all this market is full of speculations. So you may gain big profits but at the same times be ready for loss. Check your surplus funds which if lost does not affect your daily life. And you are able to meet your daily expenses without burden.
Never use borrowed funds ; because time of return is not fixed. You may gain in 15 day and it may take months to gain that much amount. Never pledge / sell your home at any cost; because home is must to live in but without bitcoin we can survive. I am noting this point here because on many occassions I read few posts asking "Shall I sell my home to invest in bitcoin".
Now suppose you are capable to buy 10 bitcoins with your surplus funds. You buy it suppose @ $7 k means you spent $70k for buying plus charges. Now you just keep pateince. Because it seems start of bull run; just keep watching.
Suppose the prices crosses & 14k in the month of December this year. The best action as per my opinion will be you just sell 5 btc @ 14k and cover your entire investment.
Now the remaining bitcoins in your wallet are just free for you. You are free to take any type of risk with these bitcoins.
One more point need to be noted is ; never put all the eggs in one basket; invest prudently in diversified portfolios.
Your comments welcome; All the best wishes to all the friends on bitcoin forum
. Pardon if I am wrong
Edit
sorry I wrote that remaining five bitcoins are free to you. these are not free ; you earned it after taking risk ; with intelligence and patience. mistake corrected
It is true that not putting eggs in the same place will risk to destroy everything, a very good plan that you build for investment strategy, but I would be very afraid if buy 10 BTC for example in the future some price just that big and I have to cover the loan or the like until maturity that will make me more depressed, where the thought that in the wake of some time will deviate not as expected, need to calm down and think further with what you think at this time.