Sunday, May 1, 2022

When Is The Perfect Time To Buy Crypto?


If anything has become more clear today than ever before it is that cryptocurrencies are very much in lock step with the stock market. April was an epic meltdown month for stocks. It's so bad, I don't even want to look at my portfolio. I've actually refrained from scrolling down my Wells Fargo platform page to avoid seeing my Brokerage account total. Same goes for my Roth IRA. I just stay atop the page where my checking account is. LOL!

But look, if you've never invested in stocks or crypto, this is the time to do it! When it's down! Personally, I think cryptos are oversold. Almost all of them are well below their 2021 highs. BTC is below $40K! Fidelity is going to allow 401k folks to invest in BTC. If employers are game, and employees get access to buying BTC, this will be a game changer. Right now there are people fighting change, stating how hurtful it can be for employees that invest in BTC and see their holdings tank with BTC's crazy price action. They claim employees will sue employers for not protecting them when they lose money.

But BTC's price has a floor and it'll never go to zero. The sheer nature of it being a limited asset, much like gold, will keep BTC from being valuable ongoing. If you got some money to spare, you can buy fractional shares of BTC. I use Coinbase to buy my crypto. But there are other platforms like, for example. The crypto I'm buying, using Dollar Cost Averaging, buying once a month when I get paid, are:

1. Ethereum (ETH)

2. Cardano (ADA)--An Ethereum competitor

3. Algorand (ALGO)--Another Ethereum competitor

4. Axie Infinity (AXS)--A gaming platform that allows players to earn tokens and make $.

5. Cosmos (ATOM)--The "Internet of Blockchains."

I also stake them. This allows me to earn interest on my holdings. I intend on holding for a long time so I'll use the power of compound interest to increase my returns! 

Anyways, what I'm doing right now is accumulating crypto, and dollar cost averaging into both crypto and stocks. You can't time the markets so this is your best bet too. Good luck out there.

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