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Investment strategy in late 2022 and early 2023
We have been in a down trend since the beginning of the year. You may think we’ve seen a bottom, but if you believe the history of cycles, we could see a bottom in about four weeks.
What will be in 2023? If we think next year will be like 2019, or 2016 then it will likely be a sideways year. Of course, there will still be ups and downs during that time, but overall it can still be a pretty boring year. Historically, it is possible that by 2024 we will see the excitement of the market return when the Bitcoin Halving event takes place.
That is an assumption based on history, but the situation now is different in 2019 and much different from 2016 with many macroeconomic events. But Thuan will still believe in history until we have a new history. As the saying goes: the more we look to the future, the more we will see the past.
There are many views on the Bitcoin price. A share of Twitter account @CryptoCapo_ said that the current BTC price is not the bottom but will continue to fall around 12,000 to 14,000 USD. Some think that BTC price will grow from here. This is similar to the late 2018 drop, BTC price has been flat for more than 6 months around $6,000 and many people think this is the bottom price. However, the price of BTC then dropped 50% to around $3,000 before rising again.
Others say that the price is now bottom and BTC will grow from here. This evidence was shared by a person on CryptoQuant saying that the current price chart of BTC is similar to 2019. And this comment suggests that it is possible that BTC will increase similarly in 2019.
There are currently many opinions on the upcoming trend of BTC. If you think next year will be worse than this year, the question is at this point, who’s selling?
And if you think next year will pump hard, who will? And where does the money come from? Only you can answer these questions and make decisions.
And investing in altcoins is one of the ways that can help you get quick profits. Thuan himself also holds a number of altcoins. But we also need to know that altcoins are much more dangerous and risky than BTC, including the top 10 altcoins. Have the top 10 top 10 altcoins in 2017 arrived or have most of them gone into oblivion? can return to the previous peak. Therefore, when choosing to invest in altcoins, investors need to balance risks and profit opportunities to allocate capital appropriately. With Thuan, BTC is still the copper with the highest percentage in his investment portfolio up to the present time.
Thuan is not good at catching the bottom or selling the top, so DCA continues to be a strategy. In the past few months, Thuan has been very focused on accumulating BTC and has accumulated the necessary part, now Thuan will switch to accumulate more altcoins.
We cannot predict for sure which way the price will go. So price averaging is a strategy that Thuan has chosen and followed for many years. There are investors who look at the high price of a coin for investment options. But what’s important is how much you can afford and how likely it is to grow. So, long-term price averaging will help investors get a good average price. At that time, time is a huge and important asset for long-term investors.
“Bitcoin will always be “too expensive” for those who do not believe in its value. Confidence in the future of Bitcoin is extremely important for investors. Therefore, long-term investors should take advantage of the time they can average the investment price.
Update around Elon Musk buying Twitter
More updates after Elon Musk completes Twitter purchase. General Motors (GM) has said it is “pausing” advertising as it evaluates Twitter’s new direction. GM will continue to use the platform to interact with customers but not to pay for advertising.
The reason GM gave was that they didn’t want to be affected if Elon Musk’s new direction of free speech applied to Twitter was not good. At the same time, Twitter’s future direction is at the heart of the takeover narrative.
Musk has said he is a “liberalist” who will restore the account of former President Donald Trump, who was banned from his tweets during the Capitol uprising on May 6. 1 in 2021. However, after that, Elon Musk planned a “content moderation board” and will not restore any accounts or make major decisions about content before it is summoned. practice. He said that content censorship is still needed to prevent bad content from being abused and spread on Twitter, but speech will be freer than before.
Several theories have been put forward around this. Advertising on Twitter has long been considered ineffective, but companies still spend money on advertising on the platform. The question is whether these companies really want to use advertising to drive speech on Twitter. But now it is no longer possible, so they decided to stop advertising.
Besides the above information, the media mentioned that the CEO of FTX, Sam Bankman-Fried, once wanted to contribute capital to buy Twitter but was refused.
According to information from Business Insider and court filings, Sam Bankman-Fried was interested in participating in buying Twitter with Elon Musk and suggested that Elon move the social network to redirect operations on the blockchain. In March, Sam was willing to spend between $8 billion and $15 billion to contribute to the Twitter acquisition.
In response to this proposal, Musk explained that Twitter cannot operate on blockchain, because it is not capable of meeting bandwidth and latency requirements. The solution might work if these peer-to-peer networks are extremely large, but it will lead to Twitter not being able to decentralize. Elon Musk also said that blockchain is not Twitter’s direction, so he rejected Sam Bankman-Fried’s offer.
Although he has no intention of moving Twitter towards blockchain, Elon Musk is very interested in crypto. Previously, he was also a co-founder of Paypal’s predecessor company with the initial desire to create a digital platform independent of banks and governments, similar to cryptocurrency. However, maybe due to pressures and unfavorable times, Elon Musk later sold the company. So far, when taking over Twitter, many people think that Elon Musk seems to want to fulfill his previous wish. Twitter has so far allowed users to use crypto, buy and sell NFTs on this platform.
Some other information said that Elon Musk bought Twitter because he liked his influence on the platform as well as its communication power. All in all, the media acquisition by billionaires is a very familiar story and has happened many times before. Like Warren Buffett buying The Buffalo News and building an information empire called the Berkshire Hathaway Media Group. John Henry buys the Boston Globe. Glen Taylor buys the Star Tribune. Or Patrick Soon-Shiong buying the Los Angeles Times. The fact that Elon Musk, an active crypto advocate, could be a good thing for the market. Going forward, we will likely see excitement related to Twitter and crypto.
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