I'm a permabull with no charting skills, but here's 2 satoshis worth on investing in bitcoin (cfryptos),
just go long term. It's like a call option with no expiration. Asymmetric reward for the risk. Some people have compared it to lottery, but I think it's an unfair comparison, obviously, there's a lot of technical complexities with bitcoin (cryptos) and this new emerging digital asset.
For people that have been around this space for a long time, we read half-joking reddit posts around bitcoin ever hitting $5K and higher and that it will be traded on wall street and that we'll be able to buy everything we need to live on cryptos. The network and market adoption story of bitcoin is a fairy tale. Perhaps someone 7 years ago was able to see it on the charts...
This is going to sound like humble brag but I already posted it a while back of my peaks and valleys experience with bitcoin (cryptos). I "invested" in bitcoin (cryptos) using credit cards about $7K worh in 2013, saw my cryptos portfolio shoot up to over $50K early 2014, rode it all the way down for 2 years of bear market to about break even, not cashing out anything. This was painful, the woulda coulda shoulda put it in a down payment for a house. Added a couple of thousand $ worth in first 2 months of 2017, but nothing significant.
Late 2017 (early 2018) bull market was life-changing for us. Cashed out enough to pay all our debts, now we're debt free, but life with cryptos portfolio representing 100% of our net worth is not exactly ride into the sunset ending. Our portfolio hit a valuation of over $800K (possibly even 1M if I was quick and I mean hours liquidation of some ICO tokens during that time) and during the bear market low in 2019, portfolio valuation was less than $80K
Now, we're in the beginning stages of bull market 2020. Our crypto portfolio is worht over $800K again, but we're just hodling on. I'm hoping pfolio hits $1M in the next couple of months, but it's just a number, not planning to cash out or anything until maybe $1.5M and then cash out $100-$200K.
TL;DR above, but below I'm sharing a video that I started at the point where Dan Tapiero can explain the futility of trying to time and trade bitcoin. Incidentally, I found a new kind of respect for gold after watching the whole video and recommend it others in crypto space.
