Antidote to FUD
I was taking a loot at the 2017-2018 chart against the 2020-2021 chart and trying to decide if I should DCA this week. I made the mistake of reading through some of the top comments in the past 24 hours on here. I see a lot of people posting here looking for reassurance that they didn’t buy at the top, and others stating that if MSM is saying we are in a bull run, it must be the end of the bull run.
The people who make money in the long run (unless you are a very skilled trader) are the people who do their research and just hold. I’m sure most of you are like me and have a day job or are in school and thus do not fit in the “skilled trader” category. Sure, you can trim profits, but don’t be emotional and sell when there is a dip during a bull run. While gold is a different animal, it was remarkably volatile if getting exposure through stocks in 2020. Just a few weeks into gold’s increase, when everyone was saying gold is too hyped etc, I bought and panic sold on a big dip. Sure enough, many of the stocks I had sold went up by 3x over the next few months.
What I’m saying is, look at the historical data, do your research and/or listen to people who seem to understand the crypto space well (and have called for crashes in the past and been somewhat correct) and invest what you are willing to lose. Then, just calm down and look in a few months.
Why would Square and MicroStrategy be buying bitcoin around $50,000 if they thought this bull run was over? These large companies opening/increasing positions are going to cause other large companies to jump in, and institutions do not panic sell like the retail investors spreading FUD in here. This is a major difference from 2017, where bitcoin was widely misunderstood and had little (if any) institutional support.
Something to keep in mind before you panic sell and are kicking yourself in a few months. Sure it could go down, but history is pointing to at least a two-fold increase from here this year. Additionally, as mentioned above, this time institutions are committing to bitcoin, and they won’t easily be scared off.
submitted by /u/12REJ12