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You would have been much luckier if your worldview had allowed you to sell at $60k and buy back at $20k.
by wikfwikf 4y ago
You would have been much luckier if your worldview had allowed you to sell at $60k and buy back at $20k.
- Kathula 4y agoI had no conviction that 60k would be the top. But I have a conviction that it'll be surpassed eventually.
- benj111 4y agoAnd what objective metrics are you using to back up your conviction that bitcoin is worth X? Many people have conviction in their belief in God. That doesn't make the existence of God any more sound.
- plebianRube 4y agoI may only buy when Fidelity and Blackrock say it is safe for retail, if at all. Until then, I will let institutions take the risk and I will stick with my index fund.
- xwolfi 4y agoI think even if they say it's safe, it wont make it so: there is fundamentaly no special value in bitcoin compared to the Thai Baht and nobody's rushing to buy those.
- Chris2048 4y ago> it'll be surpassed eventually money has a time-value, the opportunity loss of investing it in other instruments. The longer you wait for a peak, the more that peak has to be for it to be worth it. When the value you would have had you invested elsewhere reaches your expected peak, you can officially say your strategy failed.
- welshwelsh 4y agoFor most of 2018-2020 it was between $4k and $10k. If someone's looking to sell high, what's to stop them from selling at $20k, which was an all time high in December 2020? Why not wait for $80k instead of selling at $60k? It's easy to see these opportunities in hindsight, but you can never be sure where the peak is.