A Good Time to Buy.
For the past couple of weeks, I’ve noticed one common theme in my groups and DMs. People with experience don’t understand what’s going on.
Why are Solana NFTs going to exorbitant prices now and not earlier? Why does Bitcoin go up despite pretty bleak news from the Fed and China, accompanied by another wave of the infamous Tether FUD? Why is SHIB at 12 places by the market cap?
On a short time scale, predicting events and their outcomes is incredibly difficult. You can handle only so much information, and there are tons of human biases to divert your attention from what matters.
Yet, time and time again, we see people coming in at later stages of bull markets, asking whether it’s a good time to buy. And the answer is: “nobody knows.”
At the beginning of October, a person I know who was making serious money by minting NFTs with scripts asked me why the prices jumped. I told him that October historically is a good month for crypto. He responded that it might be a good idea to buy soon. I didn’t say anything.
Looking back at my personal experience, I can say that it’s always a good time to buy if you consider your risk profile and investment horizon. Coming to crypto when it’s trending and going away when it goes down is a good idea only to a few lucky ones. For the rest, it doesn’t work this way.
If even experienced people get confused, what’s left for us smol brains? If you think about it, you’d be doing pretty good even if you bought BTC at $19,000 and ETH at $1,400. So, maybe just being invested and involved in this space is better than looking for a good time to buy.
SIMETRI Portfolio–BTC Szn
When BTC price grows, so does its dominance. People rush to sell their altcoins to ride the bitcoin wave. That’s what happens on the market right now.
Hence, our portfolio remains on a similar level as last week, albeit slightly bumped. Waiting for the alt szn.
