To summarize: Why did I buy back into Crypto now?
1. Everyone saying Crypto is dead.
2. This time institutions are getting involved and I believe things will be a bit different this time. These guys have unending supply of money and if they so choose they can just keep on buying etc.
this was too much of a risk as far as my personal situation is concerned.
3. I am checking the charts way too often to my liking. I just want to move on. I made the purchase now. I will convert everything into stable coins once I get 1.5x on Ethereum. Then wait for a correction and then buy back in. Or. I can invest a significant portion of it on new alts.
4. Google Trends for Ethereum is pretty low in the 5 year timeline.. it is at 5. (the search volume level).
tl;dr
I still have the upside so I went all in now instead of trying to time the absolute bottom on November 12th.
Right now.. as of Sept 24th 2023. Ethereum price is at $1594.
Next Stop: Feb 16th 2024.
I am going to delete all the apps on the phone. Will block all the crypto related websites and I will move on.
Update: Today is
November 10th 2023. Looking back, I got lucky again with the timing! I got a good entry point back into Eth from stables.
Ethereum Price is currently at $2100 which is big jump. Originally, my plan was to get back into Crypto i.e from stables to Eth around this time. But I got in earlier because of reasons mentioned.
Now the question is this! Is this a Bull Trap? i.e Will there be a pull back?
The most rational thing to do is to do nothing. Just do nothing till the next peak in a proper bull market i.e in 2025.
i.e I have to wait for nearly 2 whole years i.e All of 2024 and Most of 2025.
Or, I can wait for the ETF announcement to be finalized within the next few weeks. Wait for the Market to pump even higher and then move to Stable coins.
After the correction I can get back into Crypto for even more gains.
Not sure what I will do. Doing Nothing is the best thing to do so I might do that.