hallo guys, i am new to trading btc. and days before the bitcoin gold fork, i was advice to sell my btc (which i did) because it was suspected to drop in price few days to come. But surprisingly, from then till this very moment, btc has been on a continuous rise. now btc is at $7000+ and we are getting close to the next fork in mid-nov. DO YOU GUYS ADVICE I BUY BACK BTC AT THIS CURRENT PRICE OR WAIT for a possible drop in price?
There are actually two options in managing your Bitcoin portfolio. Others do not just hold their Bitcoin investments all the time. They will hold them while the price is increasing but when they foresee some dipping in price because of correction or certain news that will definitely negatively affect Bitcoin's price, they will immediately pull them out. Some others however are pure hodlers that will not mind the market fluctuations of Bitcoin's price.
Every investor may have his own strategy to carry out his trading or investment in the market, someone will consider it suitable to sell their bitcoin on higher side and again wait for the market to come down so that he may purchase bitcoin on lower rate as such he may be able to get reasonable profit from its investments as t shows that the.
I am not convinced that one can get profit by this strategy as the prices are already very high so there is minimum chance to come down so I will suggest to hold on their bitcoin.
Especially taking into account an example of CBOE futures launch on 10 December, when Bitcoin made one of the largest growth in % in 5 minutes time, I think the same will happen upon CME launch. I have a quick video proving my point, would be glad to hear your feedback: