Buy in to crypto now or keep waiting?

RowdySadjit

RowdySadjit

Banned - Selling via PM
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For me it is a bad time to buy in as I was wiped out the last couple of months having to pay taxes and another accrued fee to the government where I had to pay back something they said they would take weekly over last year but ended up not doing.

I still have some in stocks so I either sell some of those or wait. I could sell one which hasn't performed great (breaking even bar a few pennies) or one that I had more in that is doing better but I have a stock that is on over minus 60% :p which I put a large portion of my savings in so that one is effectively tied up for the foreseeable.

Quite a few people I chat to online are buying in now or saying to buy in. Don't wanna get FOMO bois!

I am so tapped out at the moment that I really would be scraping the coffers to get enough to buy in. I can either pay rent or buy some crypto - only since my whole paycheck must be used since I would be paid by the network and you aren't allowed to split between payment methods - OR - sell off some existing stocks to cover rent and buy the crypto with the paycheck.

So is it urgent to buy now or is there still time for me to line my ducks in a row before buying in?
 
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RowdySadjit said:
For me it is a bad time to buy in as I was wiped out the last couple of months having to pay taxes and another accrued fee to the government where I had to pay back something they said they would take weekly over last year but ended up not doing.

I still have some in stocks so I either sell some of those or wait. I could sell one which hasn't performed great (breaking even bar a few pennies) or one that I had more in that is doing better but I have a stock that is on over minus 60% :p which I put a large portion of my savings in so that one is effectively tied up for the foreseeable.

Quite a few people I chat to online are buying in now or saying to buy in. Don't wanna get FOMO bois!

I am so tapped out at the moment that I really would be scraping the coffers to get enough to buy in. I can either pay rent or buy some crypto - only since my whole paycheck must be used since I would be paid by the network and you aren't allowed to split between payment methods - OR - sell off some existing stocks to cover rent and buy the crypto with the paycheck.

So is it urgent to buy now or is there still time for me to line my ducks in a row before buying in?
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You are FOMOing hard my brother. Pay your rent. ;)
This trade will still be here in a month, or three - maybe even better.
Sort your sh*t out first.
 
OP - "For me it is a bad time to buy in as I was wiped out the last couple of months" - already answered.
 
I am waiting for ETH, gold and the dollar to match a low... lucky me. I just hope gold and ETH fall a little more during these inflating times... without the inflation starting to eat in too much. Thank Allah I'm not a bookie.
 
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advhero said:
When you don't have the money to invest, it's never a good time to invest.
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Well I actually do since if you read another recent post of mine my mother is looking to offer me some investment money. I would rather have my own investment money but if this was the absolute golden time to buy then I could and my mother would cover me.

If the general consensus is that it isn't going up any time soon then I would wait more.
 
There are rumours about Celcius declaring bankrupcy. If that happens, we might see another crash. The best option would be to dollar cost average.
 
Celsius, Nexo and Bancor are about to announce their bankruptcy.....my bet is that Bitcoin will drop to 8k Or under and the alts will follow.....as many said this will be a generational wealth opportunity....I have 1 mil $ ready to ride the wave.
 
You can DCA. I do expect crypto to go (way) lower. My first target is the 10k region, but I do think it will go to around 5K again.
 
There is something called cost averaging. However, that will only be useful if you havelong term deep pockets that can keep up the cost averaging if it falls lower - which it will
 
Dollar-Cost Averaging. You will get the best average price and that's what you're looking for. Unless you are a (professional) trader. Use this kind of ways to structure your investments.
 
I would always recommend to not invest all of your funds at once. Always buy portion by portion :)
 
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