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One element of the best investment strategy is to hold your assets for a long, long, very long time*. If I bought bitcoin cheaply a while back, I would plan on holding it for decades. I would not consider selling based on price movement because price movement tells us nothing.** I would, however, consider selling (or buying more) based on some learned information about the asset itself.
*Risk associated with investment essentially breaks down into two different types: specific and market. Specific risk is the risk you take on by investing in individual firms; if you invest in one firm and it goes down, your portfolio goes down. Market risk is the risk you take on by investing itself; your portfolio only goes down if the market goes down. Financial and economic theory teaches that specific risk can be wholly eliminated by diversification. The math backs that up. Market risk cannot be eliminated. However, and this is a big however, market risk can be *adjusted* for enough that for all intents and purposes, it is eliminated. This is done by holding all your diversified assets for a very long time. Then, recessions and bear markets no longer threaten you. Only something like alien invasion (where the market would collapse near entirely) threaten you.
** Look up "random walk" and efficient market hypothesis. Pretty much the only theory on this taught in my classes says that a price change doesn't tell us how the price will change in the future, but it's an information change that changes prices. Economics is *supposed to* teach the idea "don't reason from a price change," but lately a lot of economists reason from a price change, and it is very common among others. But let me tell you, don't reason from a price change. Lots of inflation today doesn't mean less inflation tomorrow. That is different than saying that lots of inflation today could lead to less inflation tomorrow because of policy or investment responses adopted because of the lots of inflation today, but that's reasoning from an information change, which is fine. And you would want to identify the information change first before altering your investment.
I basically say all that to say that we don't know what is going to happen to bitcoin, and the price of bitcoin doesn't tell us what will happen to bitcoin. To get an idea about what is likely to happen with bitcoin, you'd have to learn a lot about bitcoin.
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