Everyone telling you to buy the dip but how deep is the dip? You will never know.
So what to do?
Thats why I suggest that you use so called Dollar Cost Averaging strategy. DCA is a practice where an investor puts a set amount of money into investments at regular intervals.
Lets be honest with each other, nobody can predict the price unless you manipulate it. So nobody knows where the bottom is until you pass it.
This is much safer than buying everything in 1 day. Yes might miss the profits if start growing from tomorrow. But I might gain more if the price goes down and I will be buying cheaper next week.
Potential dips for Bitcoin according to insider info: $3500 (30% chance), $6500 (60% chance) and $7500 (90% chance) for next week.
After the deepest dip is reached, the fresh bull market will start.
What will drop Bitcoin so low? Hint: next week or so.
Senate Banking Committee and G20 are happening next weeks and this is nothing good for Bitcoin. There will be serious regulations offered and the market will quickly react, entering Panic and then Capitulation state.
Where are we now?
This is a classic market cycle chart (love or hate it, it goes true every single time
We are still in “Denial” stage. I see a lot of weak hope where experts keep saying “this is the dip, it all turns next days”. Lets face it, it’s a clear sign of “denial”.
2 more stages to suffer guys, then it all be over and the new uptrend will start.
We are entering the “Chasm” phase which is a massive drop before the next rise:
Personally, I believe that Ethereum is the KING, but it’s up to you. You can use this strategy to buy any coin during the downtrend. I call it 40 day Ethereum experiment, where you buy 1 ethereum every day.
Coinbase and some other exchanges let you automatically buy crypto coins from your balance daily, you can set the settings to “Auto-Buy”.
What will I do with Bitcoin? I keep shorting it using Bitmex strategy I explained before. You can read it HERE:
However lets finish the letter on the positive note.
The future is bright though, my prediction for next year stands strong.
Crypto is not going to stop, no matter how hard it will be hit. And 300% gains will deserve only those who are ready to sustain 80% drawdowns.
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I remain @cryptogenious