Title: The Big Bitcoin Breakout: A Lesson in Managing Volatility
Long-time readers are familiar with the story of my friend Jordan. He made the mistake of buying too much bitcoin in 2017 and couldn’t hold through the volatility.
That year, he bought bitcoin at various prices, averaging $6,387. If he had simply held on, he would have tripled his money. However, due to letting volatility shake him out of his positions, he is now down on his bitcoin investments.
Understanding the Flag Pattern:
Many investors overlook the importance of sticking to a plan in the crypto market. While the returns can be staggering, bitcoin’s volatility is one of the highest in history, leading to missed profits for some investors.
Despite the volatility, there is potential for big breakouts. Currently, it looks like bitcoin is breaking out to the upside, with a move towards $150,000 expected in the next year. However, it won’t be a straight line, so be prepared for volatility.
In Conclusion:
As bitcoin breaks out, there is an opportunity for profits in lesser-known cryptos. In the past, investors have seen significant returns. To learn more and stay informed, click here.
Remember to manage your position size and be comfortable holding through volatility. As the market evolves, there are opportunities for growth and success.
Until next time,
Ian King
Editor, Strategic Fortunes
