Right time to Buy or Right time to Sell
Every time Bitcoin and ethereum price dip then we can see people talking that this is the right time to buy. I am sure that this is a good strategy to buy the dip and sell at a high but for the last few weeks, we are going through a price drop and drop.
I helped some of my friends to enter in crypto space. One of my friends purchased Ethereum when its price was 1200-1300 USD and then it made its all-time high which was approx $4400. This is something she was not expecting at all because her investment increase by 3x in a few month's time. It was bull run time and this is the time when new people get massive returns that makes them have over-confidence too. When the ethereum price was constantly increasing that time there was much news that ETH will touch 10k USD this year and she was like its going to happen soon. Since the price was growing significantly. so she did not book profit and was waiting for $10k.
Right now when the ethereum price is over 2500$ then she called me today and said that she had a loss. She could have almost doubled her ETH holding if it was all sold at the mark of ATH. But the question is that how to determine if the current price is an all-time high and its going to fall down from here. This is a very common but important question and this is certainly difficult to answer.
Will price was including continuously that time she was overconfident and expecting that it is going to make 10,000 real soon I know when it has come down and about now almost at the dip of 50% then she's feeling sad. As of now looking at the current scenario, it's difficult to say whether it is time to buy what is the time to wear if there can be more price down in the coming days. We know that this market is highly why not are you and we should invest what we can afford to lose and that too with proper research and study. I believe there are those who are here for the short term and they have got the opportunity to make a very good amount of money during bedroom then I think they should have booked some profit to take their seed money out.
Now since my friend has not done so she has learned the lesson however if a person has entered with the long-term goal then there is nothing to worry and this long-term should be at least 2 years or more. For example- those who purchase bitcoin or ETH in 2017 at ATH price, they are are in profit even if they have not sold off anything and still holding. I am sure that this will happen again but the investor has to have patience and a clear goal.
In simple words, I can say that we should not depend upon anyone's opinion and we must have a goal with the investment in crypto. Once we achieve the goal then must take action without getting emotional because greed and emotions always make us lose money.
Remember- " Either you book the profit or someone else will do"
Thank you so much
Stay Safe
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