Buy the dip
One of the hardest parts of investing is the concept of buying low and selling high. For some reason it will be easier for people to buy Bitcoin when it is back at $65,000 and everyone except for whales missing out on $29,000 Bitcoin. Its already back up to $33,000. An experienced trader with some appreciation for risk could have been trading that all day.
I try to buy the dip but I have one more thing that complicates it. I have to figure out the best way to use cash without upsetting my wife. My wife knows that she probably won't ever see the money again once it goes to crypto. I have once or twice converted crypto to fiat and taken it out of an account but that is pretty rare.
Even if I don't "lose it" it will still probably stay in Tether or a stable coin rather than put it in Bank of America or Citibank. It is getting to the point where I trust my ability to manage money unchain better than I trust my ability to move things around in the real banking world.
Did anyone buy this dip? I am sure the whales accumulated as the short sellers sold things they didn't own. I think institutional money has gotten this one wrong. We are testing the lows but we are still holding. Pancakeswap tested $10 and was able to hold. It is now bouncing around at $12.5.
Ada and Polygon went really low today. I am tempted to buy some Ripple which I don't typically own. Problem is that I don't have the easiest way to own it. I could use Changelly but it might take a day or two or it might take a minute.
I would probably buy pegged XRP on BSC but then I can't keep it as Cake being staked. So many good choices today with the whole market down. Better stay the course and keep staking Cake. At least I earn more coins even when the market goes down or sideways.
I wanted to buy Bitcoin when it hit 29K but unfortunately, I have no more money and this website isn't generating anything great yet. I wish I could have bought 4 Bitcoin at $29k. I was able to get a little bit at $32K but that was after begging my wife to let me transfer money into my crypto account which usually causes a fight.
I am not a financial advisor and I am currently long Bitcoin and Cake. I hope you were able to buy the dip. I think the fact that Jim Cramer chickened out and Mark Cuban lost his money in Iron Finance is all good for the market and it proves that you need to do more due diligence.
Bank runs are real in this day and age. The thing that stops a bank run is liquidity. If Pancake Swap runs out of cash for Cake, I still have many Centralized Exchanges that may allow me to swap before I am left with a piece of shit.