Trader Explains Why: “I Don’t Buy Bitcoin During Crypto Winter”

Key facts:
  • Cryptocurrency holders are holding their cryptocurrency in the bear market and see a buying opportunity.

  • In the meantime, some traders looking for quick profits are hoping that the bull market will return.

The current bear market in cryptocurrencies such as Bitcoin (BTC) is being seen as a buying opportunity for some, while others see it as a red alert to walk away. It all depends on what your investment strategy is.

This is how three Mexican bitcoin traders who shared their experiences and predictions with El Ceo tell. One of them is Oscar Ortega, As he seeks to make quick profits through trading, he has preferred to temporarily stay away from cryptocurrencies due to the bear market.

His way of acting is identified as a short-term trader because he invests in order to get returns quickly. Ortega likes to buy crypto assets when they make a bullish move to sell them quickly and make a profit in no time.

“I am not one of those who stayed. I am one of those who seek rapid obstetrics. Then I see it goes up a lot, I sell and I make a profit. This is my strategy.”

Ortega is a software engineer and works with blockchain technology. This made him interested in cryptocurrency trading at the beginning of 2021 in its full bullish boom. He went so far as to invest in Bitcoin (BTC), Sheba (SHIB), Solana (SOL), and Tera (LUNA), which collapsed recently and caused market anxiety.

Although he warns that he has lost half of what he invested in Solana, he maintains that the rest Cryptocurrencies gave him returns between 700% and 900%. However, he estimated that when he entered this world, the prices were already high, so he traded for a short while and then walked away.

Currently only owns stablecoins (Cryptocurrencies that seek to maintain parity with the dollar), because he does not want to be associated with too many risks. wait When the phenomenon known as “crypto winter” (market slump) ends, he will invest again Again in order to get quick profits.

He also added that while he has not been following trends, he is considering a comeback now in light of the lower prices. But he believes that people may lose confidence or interest in the market and their values ​​continue to decline, so he decided to stay abroad for now.

Bitcoin owners see the current market as a buying opportunity

While some traders are looking for quick profits, like Ortega, are temporarily away from the cryptocurrency market, the owners behave differently. specially Not selling their investment because they think it will go up in the long run. This is the case of traders Daniel Martinez and Mario Buendia.

Unlike short-term traders, the owners are those people who hold their crypto assets for a long time because they believe that they will earn a higher return in this way. Martinez, for example, said that he bought bitcoin at the end of 2016 and has since become a huge advocate of the cryptocurrency.

From his experience, he sees fit to see some cryptocurrencies as a long-term investment. In 2017, the value of bitcoin went from $1,000 to $10,000, while the next two years it traded less than this maximum. So, In 2019, seize the opportunity to buy more bitcoin when the price fell Less than 3000 USD.

Bitcoin was worth less than $1,000 when Martinez first bought it in late 2016 and he believes the cryptocurrency will continue its upward trend. Source: TradingView

“I took this opportunity and from there I rose. I know the investment I made in the beginning was never at a loss, maybe in the first few months, but thinking about it long term, I’m still in a profit.”

Exactly in 2021, Bitcoin started another currency gathering (Fast bullish move) It traded at $67,800 in November, its historic high. Since then, the value of the cryptocurrency has declined. As of this writing, BTC is trading at $29,075, according to the CriptoNoticias calculator.

However, Martinez thinks so This bearish rally is not the time to sell, because it is considered that it will rise again, Just like in the past. Although it is worth clarifying that he does not think the same about other crypto activities. The account holder revealed that he owns at least eight other cryptocurrencies in addition to Bitcoin. And while some gave him returns as high as four figures, the downfall of others forced him to sell the losses he was facing.

“My plan is to hold the hold for eight years,” said Bitcoin trader Buendía.

In line with Martinez’s ideas, trader Mario Buendia said he intends to hold out for a long time. His idea is to only sell his bitcoins when his son turns 18, Within eight years to face his university studies. Although he admitted that if there was a 40% increase before, he would analyze whether it was appropriate for him to leave.

He started investing in bitcoin at the end of 2019 and although this cryptocurrency occupies the bulk of his portfolio, he also owns shiba inu, dogecoin, ADA, XRP, ARPA, polymath and GMT. He’s currently losing his wallet, so patience and emotional calm are key to him.

“Everything was learning, despite the bad experiences as well. I have losses, but I didn’t get out. “Keep waiting until he recovers,” he said. His long-term outlook is optimistic for the cryptocurrency market. So, His investment strategy is to hold out for several years, and he even considers this moment a good buying opportunity.

Although the outlook for Bitcoin is bullish in the long term, it is important to consider this type of investment as high risk. There is no guarantee that it will increase in price as significantly as in the past. So it is advised not to buy more than one that he wants to lose and to be careful.

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