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Bitcoin Price Tumbles To Six-Month Low, Cryptocurrency Markets Enter 'Panic Mode'
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this post was submitted on 07 Aug 2024
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I was also thinking this might be a good opportunity to buy. But what if it plummets further?
I can see you're new here.
DCA your way to the bottom, this is the way
Just like investing in Magic the Gathering cards, bitcoin is basically a stock that's significantly harder to trade than other stocks, and has little other use.
I would advise against buying it.
And now?
Why trade when you can HODL?
😉
@DerisionConsulting @Evil_incarnate There is nothing difficult about it. You have to do KYC on the exchange to meet legal requirements. (assuming you are in The U.S.) You have to do the same with Robinhood and the likes.
It's also not a stock. It's a commodity. It's best use is as a hedge against the U.S. Government's debasing of USD.
If you need evidence of this, the price keeps going up over time.
You do what you do though.
Irrelevant comparison followed with bad advice
I advised myself on this ages ago and decided to quit trading all together on all platforms I was active on. Unfortunately, though, I have little to no use for my Charles Schwab account now