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RE: Gold 2020 Forecast: Sharp Drop Coming for Bitcoin -- September Caution
This is reality. However it is always very tricky and we have to exercise much caution in playing it right. It's not easy to ride a bucking bronco.
My advice from having made every mistake in the book. Don't sell absolutely everything, you won't get it back. Take some percentage of profits into strength on everything that has gone way up -- you will get it back at a lower price.
Whether you keep your cash on the sidelines in a crypto derivative USDT or SBD, etc. or whether you take it out in Fiat depends on your obligations in fiat.
Good advice.
Corrections are a good thing for a market.
While I did not sell any of my Litecoin yesterday, I did convert some BTC into ETH. I used the ETH this morning to get into an ICO pre-sale.
Have a great weekend!
Steem on,
Mike
Hey you just can't call the timing. That was indeed a significant drop. Was that it? Well yes, until the next one!
It seems like the quality cryptocurrencies recover relatively quickly after these sharp dips. This is why I was a buyer during this dip.
You are very correct, there will always be the next dip.
Have a great week!
Steem on,
Mike