I have been saying this on other forums (where more people listen to me) for over a week but I might as well post it here too:
I have been pushing crypto quite hard. I do NOT recommend buying crypto until momentum reverses. If taxes and bankroll were not relevant I would say buying and selling are probably close to equivalent with a slight preference to selling. Of course, this means I put a decent probability on a quick recovery but I am not betting on it. Make sure you have at least some dry powder for the deep bear market if it comes. I hope you took some profits on the way up to fund this. But if not sell off your momentum plays and keep some post-tax money to buy the real dip. Otherwise, hold. Maybe momentum will reverse but it’s dangerous to buy this dip unless you have a ton of dry powder. You need to conserve for the real winter if it comes. Almost no one is capable of continually buying the ‘dip’ with their paychecks for months while losing money. Preserve your USDC.
I have been saying this on other forums (where more people listen to me) for over a week but I might as well post it here too:
I have been pushing crypto quite hard. I do NOT recommend buying crypto until momentum reverses. If taxes and bankroll were not relevant I would say buying and selling are probably close to equivalent with a slight preference to selling. Of course, this means I put a decent probability on a quick recovery but I am not betting on it. Make sure you have at least some dry powder for the deep bear market if it comes. I hope you took some profits on the way up to fund this. But if not sell off your momentum plays and keep some post-tax money to buy the real dip. Otherwise, hold. Maybe momentum will reverse but it’s dangerous to buy this dip unless you have a ton of dry powder. You need to conserve for the real winter if it comes. Almost no one is capable of continually buying the ‘dip’ with their paychecks for months while losing money. Preserve your USDC.
Good luck friends!