Why you don’t HODL crypto

[remember this?](https://www.reddit.com/r/Bitcoin/comments/7k6fwo/bitcoin_has_me_feeling_like/)

Since this is a trading sub, I’m likely preaching to the choir here, but I got banned from /r/bitcoin for making some bearish warning posts back in December near the ATHs when I cashed out all my BTC holdings at 17.3k. My strategy is very simple, I buy when google trends are increasing and crypto has lost almost all mention in the media, and I sell when google trends peak and it’s all over the media and my Uber driver is bragging to me about how much more money he’s making from his bitcoin holdings vs his day job.

This is of course not a strategy to perfectly time the tops and bottoms, but overall, it seems to crush buy & hold since crypto is an asset class that isn’t really backed by many fundamentals, mostly oscillates between extreme fear and extreme greed. Right now we are in dead man’s zone inbetween the two extremes which is too risky for me to go long or short. I will buy in the 1-3k zone which will be preceded by a few more months of crypto losing daily relevance. Of course, there is no guarantee that it goes to 1-3k zone, but if it does, the risk/reward will once again favor the bulls.

This medium-term trading strategy also frees up my time from having to watch crypto charts 24/7 and I find it to be a good compromise between day/swing trading and buy & hold. Typical holding period is 6 months – 1 year.



View Reddit by pyrrhotechnologiesView Source

Related Posts

33 Comments

  1. saibog38
    March 16, 2018
  2. Oracle_of_Knowledge
    March 16, 2018
  3. ToasterToasts
    March 16, 2018
  4. calaber24p
    March 16, 2018
  5. RATMachine
    March 16, 2018
  6. AdamJensensCoat
    March 16, 2018
  7. 753UDKM
    March 16, 2018
  8. Liquweed
    March 16, 2018
  9. spajn
    March 16, 2018
  10. Riiume
    March 16, 2018
  11. corkedfox
    March 16, 2018
  12. bitalias
    March 16, 2018
  13. alpha210
    March 16, 2018
  14. aelaos1
    March 16, 2018
  15. TheCapitalR
    March 16, 2018
  16. DiNovi
    March 16, 2018
  17. Odds-Bodkins
    March 16, 2018
  18. iszako
    March 16, 2018
  19. gypsytoy
    March 16, 2018
  20. randyfrom
    March 16, 2018
  21. forsayken
    March 16, 2018
  22. oweoweoo
    March 16, 2018
  23. DonaldObama911
    March 16, 2018
  24. joeb22192
    March 16, 2018
  25. 4siteonline
    March 16, 2018
  26. CohibaNr1
    March 16, 2018
  27. Impetusin
    March 16, 2018
  28. 3e486050b7c75b0a2275
    March 16, 2018
  29. Kryptonator88
    March 16, 2018
  30. sexyama
    March 16, 2018
  31. dp__
    March 16, 2018
  32. enzo_the_cat
    March 16, 2018
  33. Marikc1
    March 16, 2018

Add Comment