You can look at this as a continuation of the last post. If you’ve been paying attention, Bitcoin has been following the markets in a downward friend. While the Fed tries to get inflation under control and cool the overheated housing market, the markets general response so far has been pretty negative. I suspect all that stimulous spending and pandemic splurging is now waking up to the highger prices and the potential for some pain ahead. I’m no expert though, but according to a lot of word famous economists, even though we may be going into recession, the longterm outlook is not that bad. And as my brother says whenever stocks go down… It looks like stocks (and Bitcoin) are “on sale”
Prices are dipping and if the lon run they are still going to go up so HURRY UP and get some while the price is down. If it goes down more, buy more. It’s rare that you get a good opportunity like this.
If you bought while the price was high, start buying more now to bring your average price of purchase down.
If you haven’t bought yet, consider going full steam ahead over the course of the next 6 months to a year. I think there’s a possibility it’ll go down some more. You can never ever predict this stuff. There’s always a black swan swimming out there somewhere, but you can look at the price now and see it’s down and it’s trending down. If you look at a 5 year graph of the stock market, you can see there was no real chance of an upswing and that a downswing was really in the cards, at least in the short term.
So while we can’t predict it, it does seem like you can expect a little more downturn, but since you can’t guarantee it, I suggest you start buying up bitcoin OR, better yet, buy a miner because it normally takes a year or so for it to pay itself off. You want to be ahead of the wave, NOT behind it.
Don’t forget, the “halvening” is coming up in 2024 and you need to stock up on as much Bitcoin as you can before then. https://crypto.marketswiki.com/index.php?title=Halving#
You really need to do as much mining as you can before then too in order to make the best use of your miner! DO NOT wait until the year before to start mining!