Daily Fintech Conversations

What to do before 1st August - sell $BTC in July and go away

ye olde market mantra was sell in May and go away. Given what happens on 1st August, the cyber equivalent is sell in July and go away.

I Am Not A Financial Adviser (IANAFA). Do your own research.

To new investors - just wait. It is like betting on a country while a civil war is raging. You may get it right but the risks outweigh the upside. Also unless you can do what is suggested below, don’t even think about it.

To long term bitcoin holders - get all bitcoins off external services and keep your private keys under your own lock and key. This is like physical gold in your own safe.

To short term speculators - trade in Litecoin, it is a good bet against bitcoin working out its problems. It is only a short term trade because as soon as Litecoin scales it will hit the same problem.

To long term speculators - buy $ETH in the hope they will get Proof Of Stake right. Lots of fundamental risk, but POS could be a better model than POW.

All this says the bear market in $BTC is not over and we wait for capitulation.