So, I consulted with my psyche, read some tea leafs, did a Tarot reading and talked to my imaginary friends, and this is what came out....
Of course, nobody knows. However, it is extremely naive to expect a bull run any time soon. Even great news like BAKKT would not cause one at the moment as there is no need for a rise in price. Don't think they have to buy a lot and that is how the price will rise. That is not how it works. Big OTC deals are done every week and no big investor will buy on exchanges.
So, be patient and look on the bright side: you have a long time to dollar average into the market. Just buy half of what you can afford every month and don't worry about the price too much.
Never trade your investments. Never invest more than you are willing to lose. Don't be impatient.
Of course, nobody knows. However, it is extremely naive to expect a bull run any time soon. Even great news like BAKKT would not cause one at the moment as there is no need for a rise in price. Don't think they have to buy a lot and that is how the price will rise. That is not how it works. Big OTC deals are done every week and no big investor will buy on exchanges.
So, be patient and look on the bright side: you have a long time to dollar average into the market. Just buy half of what you can afford every month and don't worry about the price too much.
Never trade your investments. Never invest more than you are willing to lose. Don't be impatient.
