RE: Iām an idiot8 Feb 2021 22:28
There's no right answer, you just have to position yourself in a way that you feel comfortable with. It's obviously cheaper to buy on dips, but adding on breakouts or momentum can also be effective and we had a major BTC breakout today. BTC may always pullback after a chunky move like today, but today's news was very significant and BTC had been consolidating for a months prior to this so it has good support.
I'm still focused on a higher BTC price later in 2021, the stock to flow model and the wider cyclical bull market across the crypto sector so I'm very happy to be long here. It seems we now have the added impetus of BTC gaining wider mainstream acceptance and integration, which I guess could really amplify this particular cycle. If today's news wasn't enough check out this article now on Zerohedge. Yikes.
https://www.zerohedge.com/commodities/apple-about-announce-5-billion-bitcoin-purchase-one-bank-thinks-so