Posts

Unprepared For A Market Dip

avatar of @travelwritemoney
25
@travelwritemoney
·
·
0 views
·
1 min read

I am a bit concerned. Today is the day that Greyscale dumps BTC, driving down the price. We have been expecting this for today, the 19th of July, 2021. Sure enough, prices have dropped. The going joke is that today is the last day to buy BTC above $30K. It's a funny joke. However, I'm actually worried.

First, you should know that I am a hodler. I don't have a problem with the price of BTC dropping. It is a natural part of the crypto world. Buy the dip, right? What concerns me is that I have taken some loans against my crypto holdings, which might dip into margin call territory. It could come to bad timing. I have crypto becoming liquid in a fortnight, and another chunk 20 days later. In other words, I could easily remedy a margin call in future. At the moment, however, I haven't the liquidity to satisfy a margin call. So, I'm sweating the price of BTC as it flirts with $30K.

It's far from comforting to see people calling for $10K BTC. It's a great buying opportunity . . . if I had the cash. I will be more careful about locking up crypto in the future. For now, all I can do is cross my fingers and hope that BTC doesn't drop any lower.

Actually, you could probably help me out buy buying more BTC. What do you say?

Posted Using LeoFinance Beta