We had a good 70% correction on BSV. It looks scary, but it is really healthy.
Like it or not, BSV has not disconnected from the BTC universe yet. BTC price is the master of BSV price still.
So I wait.
I feel this correction is too fast for me to try and trade to increase my position.
During the last bitcoin bull run, I tried to trade the corrections. One trade I made was to buy at 3000 and sell at 3700. Then it proceeded to 20,000.
I made a lot of small trades and stressed about it, when the big trade was $200 to $20,000. The next trade was $20,000 to $3,000.
This one looks to be a move from $3,000 to $15,000+. We are not done yet. BSV will still follow BTC for a few years I think. So I watch BTC.
When I sell my BSV, I will be planning on selling and waiting 6 months - 2 years to get back in.
So I have to be very very patient after you exit.
Imagine you sold BTC @ $14,000 last run and you had to watch it go to $20,000. You have to have the mastery of your emotions to watch that happen and do nothing.
It is still a really good trade, because no one knows the top. And your emotions will be tested.
Imagine going all in on BTC @ $600 then watching it go to $200 for an entire year. You have to control your emotions for over a year just to get back to $600.
You are rewarded by a move to $20,000. These are real scenarios. These situations are what really happens when you trade. This is realistic.
So I wait for now.
Like it or not, BSV has not disconnected from the BTC universe yet. BTC price is the master of BSV price still.
So I wait.
I feel this correction is too fast for me to try and trade to increase my position.
During the last bitcoin bull run, I tried to trade the corrections. One trade I made was to buy at 3000 and sell at 3700. Then it proceeded to 20,000.
I made a lot of small trades and stressed about it, when the big trade was $200 to $20,000. The next trade was $20,000 to $3,000.
This one looks to be a move from $3,000 to $15,000+. We are not done yet. BSV will still follow BTC for a few years I think. So I watch BTC.
When I sell my BSV, I will be planning on selling and waiting 6 months - 2 years to get back in.
So I have to be very very patient after you exit.
Imagine you sold BTC @ $14,000 last run and you had to watch it go to $20,000. You have to have the mastery of your emotions to watch that happen and do nothing.
It is still a really good trade, because no one knows the top. And your emotions will be tested.
Imagine going all in on BTC @ $600 then watching it go to $200 for an entire year. You have to control your emotions for over a year just to get back to $600.
You are rewarded by a move to $20,000. These are real scenarios. These situations are what really happens when you trade. This is realistic.
So I wait for now.