Many of us here are hardcore bitcoin believers. If you are anything like me, you've put a good chunck of your savings in bitcoin.
However, how painful is it to watch bitcoin price plummet?
April 1st signaled the start of what seemed would be yet another bull run however, the rally seems to have been cut short without getting close to the all-time high.
What do you think would be a smarter way of hodling bitcoin other than standing still, bag in hand, while watching the price go down in each correction, or maybe even back to the $3K range?
To me, the utmost goal of a hardcore hodler is to accumulate bitcoin, as much as possible, always managing your risk level.
With that in mind, the smarter way to hold bitcoin is to sell it when prices start going down, only to re-buy a larger quantity when prices stabilize at a lower range. Then, with the same capital, you increase your bitcoin holding every time prices drop.
That is what I'm doing at this point. I'm using a strategy a few friends and I built. The strategy seems to be very good at predicting big downward market moves, giving a sell signal early on, as the move starts developing. It also indicates when you should re-buy. Backtests show amazing performance in 2018 (549% ROI in BTC) and 2019 (106% ROI in BTC). Current live trading experience is quite short-lived, but we did catch the fall of September 24th, with a 26% ROI in BTC in a single trade.
The strategy is explained in this article recently published in Hackernoon: How to Increase your Bitcoin Holdings in a Bear Market - Part I
This are the things that holders should keep in mind if they are really looking forward to gain an increase in your bitcoin. At the same time, you should be knowledgeable enough about the coins you are currently holding. You should make sure that you monitor the market value of each as much as possible so that you may know if it is a good time to sell your holdings, keep on holding it and if it's time to buy the certain coin you have. Patience should also be observed if you really want to have a successful holding.However, how painful is it to watch bitcoin price plummet?
April 1st signaled the start of what seemed would be yet another bull run however, the rally seems to have been cut short without getting close to the all-time high.
What do you think would be a smarter way of hodling bitcoin other than standing still, bag in hand, while watching the price go down in each correction, or maybe even back to the $3K range?
To me, the utmost goal of a hardcore hodler is to accumulate bitcoin, as much as possible, always managing your risk level.
With that in mind, the smarter way to hold bitcoin is to sell it when prices start going down, only to re-buy a larger quantity when prices stabilize at a lower range. Then, with the same capital, you increase your bitcoin holding every time prices drop.
That is what I'm doing at this point. I'm using a strategy a few friends and I built. The strategy seems to be very good at predicting big downward market moves, giving a sell signal early on, as the move starts developing. It also indicates when you should re-buy. Backtests show amazing performance in 2018 (549% ROI in BTC) and 2019 (106% ROI in BTC). Current live trading experience is quite short-lived, but we did catch the fall of September 24th, with a 26% ROI in BTC in a single trade.
The strategy is explained in this article recently published in Hackernoon: How to Increase your Bitcoin Holdings in a Bear Market - Part I