We are up +98% in our crypto portfolio and if I am planning to add again, I have made an article titled “How to Grow Your Crypto Portfolio Using this Simple Strategy” and this is the strategy that I am using here.
If you are new to Bitcoin, you can check out some Bitcoin ETF and see if you are more comfortable with this.
Here are some of the ETF that are popular right now:
- IBIT – iShares Bitcoin Trust ETF
- FBTC – Fidelity Wise Origin Bitcoin Fund
- GBTC – Grayscale Bitcoin Trust ETF
It is up to you if you want to invest in an ETF or just buy the crypto itself. For me, I will just keep buying crypto in Coinbase exchange and transfer it to Ledger, every time it pulls back.
So what do I do if the Bitcoin price goes down?
I buy BITI (Short Bitcoin ETF) as a hedge to my Bitcoin / Ethereum positions. I only get out of my long position if I think BTC/USD is in the accumulation stage again and bound for another breakout. The profit I get from this long BITI position then will be used to buy Bitcoin.
So going back to the main question, Is Now a Good Time to Buy Bitcoin?
If you don’t need the money for the next 5 years, just slowly buy. Don’t buy at one shot and only buy when Bitcoin price is down.
You will thank yourself in the future.