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Anonymous

23 Aug 2020

Cryptocurrency

Should I invest in Bitcoin now?

Discussion (6)

What are your thoughts?

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Travis Teo

23 Aug 2020

Head of Business Development at Tokenize Xchange

My personal take is that we are only at the beginning of this bull cycle. However with that being said DCA is still the best way to go.

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Alson Chia

23 Aug 2020

Accountancy at Nanyang Technological University

Generally BTC or crypto are highly volatile invesment class. I would recommend you to DCA (Dollar Cost Avg) in or at least look at the chart and apply some sort of TA (Technical Analysis) to get in at a value area and start building your position there.

There are alot of analysis out there which shows a bullish scenario for investing in BTC for example:

  1. https://www.lookintobitcoin.com/

You can scroll through the many analysis, most prominent will be the S2F model. etc.

  1. https://www.tradingview.com/chart/XOKheWHS/

Look at the weekly candle chart, from TA perspective, price just broke out of a systematic triangle - buillish sign.

PS: But still, you still have to do your own due dilligence, and only commit to ammount you are ok to lose. Small tips - as it's a highly volatile market, do not panic sell if price drops 10-20% in a day, ITS NORMAL.

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Bitcoin is ranked as a high risk high reward investment. You might want to use dollar cost averaging...

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