Hello there, how are you? Why am I asking in those hard times. Heheh!
With bitcoin price constantly dropping there is only one thing that I am thinking right now and that is "How am I going to make money out of this down trend?" Just right at the moment I was writing this the price pumped up a couple hundred dollars. BTW, I still believe it is a bearish game. Back to the plan!
Well, I have put many buy orders of let's say one percent of bitcoin every 100 dollars the price drops. This will create an average for me and if the price goes up instantly I have the same pattern for the peaks and beyond with sell orders. If we have another big cliff like the one we had in the beginning of this week I could ride the tides up and make some more money for me.
That plan is good and low risk. Imagine that for every 100 dollars that the price deeps down you lose one dollar for every percentage of bitcoin that you own. For example if you have 1.34 ₿ you will lose 134 dollars if you sell and this is the secret. You just HODL till the price goes beyond that price so you can benefit.
In days that the price doesn't fluctuate much you can make money based on the percentage you stake. So if bitcoin price is about to play between 8900 - 9200 that's great! Every time it goes down you buy some percentage based on what you yourself wants to stake and in the same way when the price goes up you sell that same percentage. Now if you get carried within a big wave that's okay, just pinpoint that buy or sell of yours so you can keep track of it when that price closes to your interest.
At the same time you have your long buys/sells down the line let's say for 1-2k down/up the line and that's in case for an unpredictable bearish/bullish market. You will sure make money with that strategy by not fast because it is a low risk one. At the same time don't forget to keep track of your whole balance percentages of FIAT and Crypto because if you believe that the price is going up you have to have more crypto in your balance in order to became more bearish in the future market. Similarly, keep your FIAT percentage bigger in order to accumulate more bitcoin if you believe that the price will fall. If the price is hovering in the same spot day after day at least take that time and try to balance your account 50/50 and this is if you have no idea where the price is gonna go next. If you know that you are close to the all time low of the price then keep more percentage on bitcoin.
This plan is a little bit complicated when you try to calculate what money you have made at the end of the day. But if you get used to it you will be able to do the math properly and see the gain. It's a buy when the price falls and sell when it goes up but you have to keep the accountings right and don't get distracted by the weight that your money falls for every 100 dollars drop, you just have to stick to the plan. It will take time but when you will rip the fruits of your hard work you will thank me.
Everything I sad about my strategy earlier can apply of-course for every crypto and not just for bitcoin. I am just over excited of bitcoin that's all. Well, thank again for your time! Good night and keep staking ( not the proof of stakes' staking but the other, heh!).
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