Hi there,
First post. i'm a newbie, i hold 2200$ and i wanna buy bitcoin for about 3weeks now, but the price is skyrocket day after day from 1150$ to 1350$ right now.
i'm waiting everyday for a dump, a dump to buy at 1150$... but day after day i tell myself: u had to buy it yesterday.
i have a bizarre feeling that the price gonna go high til 1700$ then a dump to 1550 then go skyrocket to 2000$.
So always the same question: i wish i buy it yesterday, but today the price is very very high and all what i have to do is close my eyes at the current high price and buy for my 2200$.
any wishs from good traders? i'm just a newbie.
Noone knows what will have the better outcome between keep waiting for a big correction or go all in just now or on next small dip. The only thing I can tell you is, if you already have the funds on an exchange which in fact means you are already accepting some minor risk (unless it is Bitfinex, in which case the risk is way above MY threshold level of acceptable risk), you can do some "hedging" on your going in.
For example, you can go buying in small quantities and depending on evolution of the price decide what to do next. If it goes down, you can either increase your funds "in" or wait for a deeper bottom, if it goes up you can also keep increasing the ammount and setting some stop losses, etc etc....
Just an idea.... But in the end what matters the most is if you are investing on a bull market or a bear market (long term).
my strategy is to buy bitcoin for around 4500$, spred 2500$ on bitcoin, ethereum, dogecoin,litecoin,golem,monero.. some big crypto, and buy for about 40 atlcoins for 50$ each with a big potential of x30 X50 X100 and sell them, its gonna maybe finish in losing bets on about 75%, but if only 3 of those 40altcoins skyrocket, it gonna cover for the rest and ++
my srategy is to hold for 2years at least.
at the same time, i'm a poker player and gonna grind on tables without be in a hurry to withdrawl my money from altcoins.