Backing the Truck Up
For 2 years I’ve been accumulating cash watching BTC shoot the moon to nearly $70k, annoyed I missed that run except for the 0.35 BTC I’ve held for years. So I waited, and waited, and built up the most cash I have ever had liquid in my entire life praying (sorry) for BTC to crash so I could put it to work. My prayers have been answered and now I’m struggling with picking an entry. I know I will never pick the bottom, but I would really like to get as close as I can. The problem is that there’s no way to value BTC via the traditional valuation methods. What is it worth and when is it trading below that level? I’ve always made my biggest investments (stocks, bonds, real estate) when everyone else is selling, and I’ve done well this way. But BTC isn’t like any other asset and I really have no idea at what level to place my bid. So, any of you BTC veterans, is there any way to answer this question of when to buy? How would you make this decision if you were me? Open to any ideas no matter how obscure. Thanks in advance!