Bitcoin is At All Time Highs

Every day, I log into my crypto.com account and it looks like Bitcoin will never slow down. The big question is, “should I buy now or wait?”

If you wait for a pullback, it might happen. Or it might not. Consider this: You wait for Bitcoin to have a 30% drop from it’s current price of 64,000-ish. Let’s say Bitcoin doesn’t slow down and instead, hits $100,000. Damn. You’ve missed your chance because you were waiting. And now, Bitcoin has a 30% drop. It settles at $70,000. Still more expensive than it was when you decided to wait.

I’ve been trading stocks for 11 years. Timing your trades is way more important than timing your investments. You’ve heard the cliche “time in the market is more important than timing the market.” Yeah. Duh. Most people aren’t traders. Most people are investors.

So when it comes to “timing the market,” well … who cares? If you’re an investor, you just buy. If you believe in a company, the thought is: am I buying it because I think business will be stronger/better/more profitable in X amount of years? The answer is obviously YES. Why would you invest in a company you thought was dying out … unless you thought there was potential for a recovery or turn around.

When it comes to investing, the question is: Should I invest now? And the answer is almost always yes. Dollar Cost Averaging is the best way to do this, and you can do it with crypto, too. Just throw in a little bit every month, no matter the price. Some months, your investment will be higher, other months, it’ll be lower. When it’s lower, you could consider buying more — consider it a sale (assuming something major hasn’t changed with the company or economy).

Happy investing!