facebookThoughts on buying into the current bitcoin dip? - Seedly

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Anonymous

29 Apr 2021

Cryptocurrency

Thoughts on buying into the current bitcoin dip?

Would you buy into the current bitcoin dip?

Discussion (1)

What are your thoughts?

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Of course yes! The value of Bitcoin is comparatively lower at this point. When in a dip buy as much as you can. Use the Gemini app in Singapore as it gives you nice price alerts when there's a dip and comes with low fees.

I think in the end it depends on your risk tolerance and allocation. If you are cool with only a maximum of a 3-5% drawdown in your portfolio and the volatility of crypto fluctuates about 30%. It would be a good idea to keep your Crypto allocation between 5%+/- a bit.

But how i scale in is to buy less on the way down up to a certain weightage say 2% of the portfolio. Once/Should a reversal occur(thats where the technical analysis comes in handy), you can further scale in to increase your weightage. Hope that helps

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