BitcoinLong
Yes, I am still holding my BTC
Updated
You might call it crazy to say and in the wake of everything, it probably seems like it right now. You can see who the real traders and risk managers are by who is around right now. The most disheartening thing to see was Jacob Canfield's twitter getting deleted. While I hope his account didn't blow up, it's probably very likely. This is why I adhere to a couple main principles.
1. Manage how much you can lose, not how much you will gain.
2. Don't trade leverage. (Even i get suckered into this one, but I trade with really small amounts when I do to protect myself)
No one get's it perfect. NO ONE ever will. Even though I wanted to sell beforehand and bought back in too soon. My rebuy target's also would have gone underwater. A lot of people are. But I am rekted? am I margin called? Am I losing more then I can afford? No. Here I am. Here you are.
I would like to display this chart of Gold during 2008.
Take a look at what happened, we went down initially. (happening now). People dump to prop up margin, panic, fear, whatever the reason is. Notice what happened after on this gold chart. We then springboarded back up over the next few years. While there was a financial crisis in 2008 and while I think this crisis is very different with the virus. What's the difference with printing money to prop up the system? Not much. We are injecting 1.5 trillion into the market right now and another 700 billion. Doesn't that sound familiar to what was happening in 08? Cause it is.
The world is going to print there way out of this. If there has ever been a case where you should be bullish on BTC. IT. IS. RIGHT. NOW.
On gold we hit the moving averages and moved up from there over the years. Will the same happen here? I think it's very likely.
Best of luck in these crazy times.
-Sherem
1. Manage how much you can lose, not how much you will gain.
2. Don't trade leverage. (Even i get suckered into this one, but I trade with really small amounts when I do to protect myself)
No one get's it perfect. NO ONE ever will. Even though I wanted to sell beforehand and bought back in too soon. My rebuy target's also would have gone underwater. A lot of people are. But I am rekted? am I margin called? Am I losing more then I can afford? No. Here I am. Here you are.
I would like to display this chart of Gold during 2008.
Take a look at what happened, we went down initially. (happening now). People dump to prop up margin, panic, fear, whatever the reason is. Notice what happened after on this gold chart. We then springboarded back up over the next few years. While there was a financial crisis in 2008 and while I think this crisis is very different with the virus. What's the difference with printing money to prop up the system? Not much. We are injecting 1.5 trillion into the market right now and another 700 billion. Doesn't that sound familiar to what was happening in 08? Cause it is.
The world is going to print there way out of this. If there has ever been a case where you should be bullish on BTC. IT. IS. RIGHT. NOW.
On gold we hit the moving averages and moved up from there over the years. Will the same happen here? I think it's very likely.
Best of luck in these crazy times.
-Sherem
Note
The Fed announced QE infinity, no reason to sell. Holding.
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