The best example I can think of is Dollar-Cost-Averaging. We posted a Beginner’s Guide to DCA a while ago if you want more of a detailed breakdown.
Here’s what it comes down to:
Do you like to buy something when it’s the latest model and everyone is talking about it? Or can you wait a bit and buy it when it goes on sale? How long do you plan to hold on to it?
It’s hard to even know which is which in crypto. How can anyone possibly get the timing just right?
Think about it. Picking the bottom or top takes luck. Emotions will be running high. Bad decision will follow. If this is your “winning” strategy… best of luck.
My plan is going to spread the risk out over time. It’s going to take discipline. I’m going to invest what I can afford to. I’m planning to buy the same small amount every week. Like an automatic contribution to a retirement plan.
In fact thats probably how i’ll set it up with automated market buys.
My focus will be on blue chips like: BTC, ETH, ADA, LINK, and possibly ATOM.
I’ll buy them, stake all of them (except Bitcoin) and wait for 3-5 years. And if things turn around quickly, I’ll be taking some profits using this same simple method to sell some of it back.
Slowly and consistently over time.
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