BTC price is too high, how to enter and make profit?
This article shares my investment strategy. Newcomers to the market who want to buy BTC can refer to it.
Remember that the market goes up and down, no one can predict. So what should new investors do? Wait for the price to go down as analysts have predicted and then buy, or buy once because of the inner belief that it will definitely increase by 10-20%? So when the price is on the decline. Do you dare to buy or wait for it to continue to decrease? Or when you buy and the price goes down, the market is full of FUD, what will you do? Sell at a loss and curse Cryptocurrency is a scam? (1)
In this market, psychology is the most important. If you can't control your emotions, you won't make money. So what can you do to invest comfortably and still make a profit?
I'll just give you a quick rundown. For example, if you want to buy 10 million BTC right now, I'll plan to buy in the next 2 months before Trump's election. I think the FOMO will be quite high at that time and the average price for a 60-day purchase period is reasonable. Okay, now you add and subtract the amount you plan to invest. I'll buy $5 per day. And follow this Average Price strategy. If the price goes up, congratulations, you've made a profit from the first coins, if the price goes down, congratulations, you didn't go all-in and have a low buying position as expected. Oh, it's so comfortable, right?
So when the price goes up or down. What will you do? Buy all at once. It will lead you back to proposition (1). So, stick to your strategy.
I entered the market in July. Right when Fomo Trump spoke about crypto. At that time, the price was ~70k. This method helped me buy at an average price without having to chase the July peak and crow strongly at the present time. Although it was not the best position, it was basically profitable.
Advice, invest with idle money. No borrowing, do you want to make money quickly or make money long term in this market? Learning how to survive is the first step. A comfortable mentality will make wise decisions.
In the upcoming article, I will share why Vietnamese people should buy BTC from my perspective.
Follow me if you find it interesting.
