Quote:
Originally Posted by Hammer
Kraken, Coinbase or Binance U.S. are your best bet I believe. Being from the U.K. I am not sure if your state makes a difference as to which one you can use. Withdraw to a ledger. Buy from the company direct, not Amazon etc.
Alts are like walking in to a casino. ETH between Bitcoin and Alts on the risk reward curve. 70% BTC, 20% ETH, 10% ALTs is a fairly standard portfolio breakdown. But if you want to play it safe just buy Bitcoin.
My plan is to sell the lot just like I did in 2021. No point in riding it up and all the way back down again. But that will be in 2025 presuming the cycle continues to play out as expected. I am open to taking profits in 2024 should we happen to hit $60k or so, but I doubt that happens.
I will likely take my initial investment off the table at $60k. We were in a QE liquidity bubble last year so beware of the we will hit $250k talk in a few years time. Only way that happens is with regulation probably coupled with a Bitcoin ETF. It could easily happen then, but I can't see that sort of money coming in otherwise. My guess is $80-$125k at the peak in 2025. But selling the peak is almost impossible. I got out at $48k in 2021, after it hit $69k I got sucked in to the $100k talk. Taking profits in chunks is the way to do it IMO.
I would sincerely advise people not to buy in 2024/2025. That's how you lose. Buy in the next few months then just leave it.
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Yeah, the plan would be to buy next year and just sit on it for a couple of years - ride it up a bit and then take the profit. Just another way to diversify the portfolio.
SI