To Buy or Not to Buy The $10k Bitcoin? A question that everyone is asking themselves in the past few days. As youtuber Crypto Daily says the current situation seems to be a “lama market”.
If that is the case, “lama market” needs “lama tactics”. Many see the current price tag of Bitcoin as something that is hanging from a cliff, uncertain if it has the energy to climb up or sustain its energy to at least stay hanged.
This is the time when “lama tactics”, are used at the best. You see, real lamas are unpredictable, they may turn their head and spit you in the face or let you touch their soft wool, but you can’t really know beforehand. So you taking the risk.
A market like this is kinda the same thing. You have $1000 and thinking if it is a good moment to buy or not at $10k, because the market may turn and spit you in the face.
Buy With A Plan
So, in my personal opinion, is firstly to determine if the current price of Bitcoin is a fair price and if it is going to be a fair price in the future, even if it drops in the meantime. I am aware that if I buy now there is a chance that the price will go lower, and I have to countermeasure that beforehand.
This is the time, when cost averaging comes in. The way I will protect myself from getting spitted in the face by “lama market” is that I have to put up a mask, meaning not investing the whole $1000 but only a percentage of it, and invest the rest of the percentage when there are more indications.
You can say cost averaging is the core of “lama tactic”, which I believe it is the most rewarding one in the long time of things.
The above article does not intent to give financial advise to its readers and it is purely informational.