Is Bitcoin About to Tank? How I'm Approaching This Market
The crypto market right now is quite wild. We were all doom and gloom just a few weeks ago and now that BTC has broken through $20k, then $23k people have completely flipped sentiment.
That is not to say that things are totally different now. Yes, we had a nice rally in BTC and it's been holding that rally surprisingly well but we need to stay vigilant and keep our emotions out of it.
Despite the rise in price, I have a DCA strategy. I've been buying BTC ever since we originally dipped below $30k. Since then, I've been loading.
Consider that when BTC dropped from $32k to $23k you thought it was a steal. Now that BTC went from $16k to $23k, you think it is hard to buy and over priced.
Wonder about your emotions. Question your assumptions. This is what good investors do. For me, this means maintaining my DCA strategy despite the ~35% rise in BTC's price the past few weeks.
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Bitcoin is surging at current I think we will see it continue to rise to that $US32k - $35k mark. That's the price point I'm watching because it may keep going given inflation around the globe is becoming stagnate.
End of Feb will be the telling time.