But investment wisdom tends to say: buy when prices are falling; sell when prices are rising.
Why is that?
A quick look at the Bitcoin macro high of $20,000 in December shows that, a year later, Bitcoin collapsed to just $3,000 in price. Had you bought $1,000 of Bitcoin at $20,000 in December 2021 when sentiment was strong you’d be just about breaking even today?
But had you bought $1,000 of Bitcoin at the bottom of $3,000 you’d now have over $6,600.
Furthermore – if you’d sold that $1,000 at the recent Bitcoin all-time high of $69,000 you could have made a $22,000 profit.
Knowing where the bottom of a bear market is becoming key to successful crypto investing. Assuming the bottom is near, below we look at the three best cryptos to buy on the cheap.
Bitcoin
The relative strength index (RSI) is a useful indicator that suggests when an asset class is oversold.
When the RSI over 14 weeks falls under 30, that’s an indication to buy for many experienced investors. The current Bitcoin RSI...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...