AskLeo - Is Now The Time To Buy Back Into The Crypto Market?

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Bitcoin is having difficulties at holding above $30k lately, if we can put it that way, and according to @chorock it might be on its way to "scoring the 9th weekly red candle in a row". BTC might hit a record in this regard... I haven't studied the charts, but I doubt we have had anything similar since it was first listed on any exchange.

@edicted and a couple of other Leofinance peeps are not taking $20k out of the equation, and knowing how unpredictable crypto is, I'm not doing that either. The main catalyst for a $20k revisit would be a "full-blown recession".

$20k BTC would mean way cheaper alts to load on. However, the #askleo question of today is: would now be a good time to buy back into the market? I'd say yes and as a matter of fact, I have added a bunch of AVA to my portfolio, @trumpman favorite coin, a few days ago.

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My entrance points so far are $0.72 and $0.74... AVA is currently valued at $0.7, after getting quite close to 80 cents just a few days ago and there's no guarantee it has bottomed out yet. The way I see it, the ultimate bottom for AVA might be somewhere around $0.3. That's the level from where it started moving seriously to the upside in June 2020.

I wouldn't mind if it would go back to $2 or $3 by summer this year and not correct that low to the $0.3 area, but if it indeed deeps that low I'm gonna be selling my car, a pair of shoes, my watch and probably my smartphone too and buy the hell out of AVA.

The observation of @chorok regarding the 9th red week candles in a row that Bitcoin is about to claim makes me think of one thing, something I mentioned in a comment on one of Edicted's posts. The bear market we currently have might replicate the one of 2018, but the overall length might differ. In 2021 we didn't have any blow-off top for BTC and the top looks kind of strange if you ask me...

Hence, we could also be in for a shorter bear market, followed by a continuation of the escalation towards a +$100,000 BTC sooner than the majority is expecting, all that translating to my favorite narrative: supercycle. A supercycle doesn't have to be just a continuous uptrend, it could as well be a "stairway of mini bull and bear markets" all the way up to the moon.

OK, now's your turn, what do you think, is it now time to buy back into the market?

Thanks for your attention,
Adrian

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It's always time to buy. DCA is a great way to get in and out of crypto.

We are in a first situation with crypto of a threatening recession and record high inflation. Not sure how this impacts the market short term, but of course it will rebuild over time.

Adoption is happening, buy in any day as long as you aren't risking more than you can afford and just hodl steady. Even bear season isn't all down.

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That's a good question. I've been trying for a week now to hit those spots where it bounces from the support, so far so good. Been trading with quite a few assets, but leaving a big chunk of USDC waiting if the support should not hold.
If I was going for a longer-term investment, I'd probably DCA the possible way down.

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Did you took any profits last year?

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Hmmn I think if it can go lower it will go lower. Top most priority is buying back a shit ton of Hive, if the markets will have to bleed for a while for that to happen, be my guest. The lower hive gets the more tempted I am to dump 1k at it. If 1k can get me 10k hive. I’ll thank my stars. If it can get me even more, I’ll thank the stars moon and heavenly crypto bodies in the universe.

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I think if you just keep adding you can't go wrong even if we see a $20K BTC. Personally I do think we are going there and buying the whole way down would be a profitable habit.

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I think it depends. If you are in it for the long-term, then buying in now even if it heads lower for a bit is fine. If you are a trader, then I suggest not doing so because the overall situation isn't clear yet.

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for those that are going in long term i think it is best time to buy now and i have been very active looking at hive price because is best time to buy

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I do feel like the market will bounce back. So buying the dip and holding it may be fruitful in the longer term.

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I think if it's time to buy back into the crypto market; because we are sure that this bear market will be outperformed by most major cryptocurrencies and projects.

Especially in the case of Bitcoin, we know that by the next halving its price will be well above any price it has shown so far (even above the current high). And this view that BTC will go up at any moment is corroborated by the fact that Bitcoin is still trending up on the monthly chart, regardless of how much it has fallen so far and whatever trends it shows in shorter timeframes.

Knowing this and also knowing, as we know, that the price of BTC governs or affects the price of almost all altcoins, we can be sure that most of them will also recover in the future.

So emphasizing, I think if it's time to buy back into the crypto market; another thing is that we have liquidity to do it; but having liquidity, yes, I think it is the best time to do it.

Good Post. Greetings!

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The halving is still a bull market trigger. I thought for a while that we might have escaped that loop, but it's not the case yet.

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Dollar Cost Averaging is still the best approach to enter the market, I've been using it and it has been paving off big time.... Anything that happen I still have some spare stablecoin to buy the dips employing DCA.

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It's market manipulation by whales to control more shares of btc. We lost 20000 in 4 month maybe 10000 can be lost within a month! Greed is sinister.

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