There’s much chatter online about crypto assets like Bitcoin and others coming to a crash at the end of the year. I recently bought some Bitcoin and would love to buy more if there is a correction.
I went on Google Trends to see the sentiment online about the term Bitcoin Crashing. I use Google Trends as one of my many tools as a Crypto speculator to ascertain if I would like to sell or buy crypto assets.
You can see in the chart for Bitcoin 2004-present when the term Bitcoin Crashing starts to spike; then it climbs higher several times. Finally, you can see back in 2011 it from 32 dollars down to one penny. Then, again in 2013, trading was so high that Mt. Gox could not handle the trading volume and had to shut down operations, sending the price down to $50 from $260.
It came down again in 2017-2018; it was at $20,000 and came down to $12,000 when investors took profits.
There have been more corrections in Bitcoin over the years. However, it always seems to bounce back. But, of course, there’s no guarantee in any asset purchase.
I went on the Trading Views website and looked at some charts. I’m not going to say whether it’s crashing or not. I don’t have a crystal ball, but if Bitcoin does come crashing down, I will wait it out some then get right back in and buy more assets.
One other source I use is Raoul Paul from Real Vision. I went on Twitter to see what Raoul might have to say. Most people are wondering if the price is dropping to investors taking profits.
Raoul Pal’s reply on Twitter was, “People have asked if I have taken any profits, and the answer is no. I keep adding to my bet when I have the cash. I have switched around within digital assets and have also set up an entire crypto fund of hedge funds to stay in the trade for years”.
I am following his strategy on Bitcoin also as a long-term asset holding. Many factors are going on when I purchase Crypto assets. I look and chart patterns, but most importantly, I think about the assumptions I’m making and is there a better way to think about what I’m doing in my strategy as a Crypto speculator.
Find as much information you can when investing, then decide what you would like to invest in; whether it goes up or down will always happen. I have found that a long-term approach is easy to ride the ups and downs of markets.
It’s up to you, so if Bitcoin comes crashing down will have to wait and see. Then see what’s next.
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