From the desk of Louis Sykes @haumicharts
Naturally, after a drawdown like the crypto markets have endured, this is the part of the cycle where everyone tries to call a bottom. Of course, we don't need to discuss the dangers of this treacherous journey of bottom-calling where many traders eventually meet their fate.
There is perhaps no worse setup for active traders than in environments like these.
Times like these are when volatility is rampant, emotions are elevated, and bad decisions are made.
But, there are two antidotes:
- Don't trade, be patient, and buy when upward momentum returns.
- Dollar cost-average in the value zones.
For the most part, we continue to hammer down the first point. Going back to December, we've been preaching patience and high cash positions.
But today, we want to address the potential credence in the notion of Bitcoin dollar-cost-averaging in the context of this recent selloff.
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