Gala has shown significant performance during different bull and bear cycles, making it suitable to operate through different strategies at each stage.
Phase One: Entering at the Bear Market Bottom
Entering at the low point of the bear market, typically during the transition between bear and bull, Gala's increase can reach 300%-400%. For example, when the price of Bitcoin dropped to $17,000, Gala's price increased about 4 times from January to March 2023.
Phase Two: Consolidation Period After a Small Bull
When entering the consolidation period after a small bull market, one can buy on dips when the price of Bitcoin retraces to around $20,000.
Phase Three: Accumulating on Dips in the Early Stage of a Big Bull
Now in the early stage of a big bull market, Gala's increase often reaches about 30% daily. During this phase, one can accumulate on dips and enlarge profit targets, selling in batches until the bull market comes to an end.
My trading strategy is:
Buy $100,000 of Gala when Bitcoin is at $17,000, then convert to Bitcoin after it increases 4 times;
In June to August this year, buy $3 million of Gala again, expected to sell in batches in February to April and October to November 2024;
In the next round, I will continue to use the same strategy, focusing on familiar cryptocurrencies for trading. Although I am retired now, I just play around casually.
