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Issue 39 – Playing the Long Game

July 15, 2021


Like it or not, many of you are now playing the crypto long game.

I know some were expecting to “play the cycle”, myself included. You buy during the bear market and then scale out near the top. I did take some profit in April, but perhaps not as much as I should have.

And maybe this bull market isn’t over. However, every breakdown makes that scenario less likely.

It’s not all bad, though. Whether you bought during the last bear market or you’re underwater right now, this is a time to dollar-cost average, in my opinion. You just need to be selective about it.

In today’s issue, I’ll discuss what it takes to play the long game as an investor, including where and what to buy. We’ll then finish up with a few charts, as always.

Let’s get it!

What, When, and Where?

Before we dive in, I want to remind you that nothing I discuss is financial advice. It’s all my opinion only, which means you should always perform your own due diligence.

With that out of the way, let’s talk about what it means to play the long game.

Every financial market has long-term and short-term participants. And some are both.

Many who planned to play this cycle by selling near the top are now holding their breath (and all of their crypto).

 

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Trading Tools & Resources

The links below are affiliate links. Meaning that at no additional cost to you, I will earn a commission if you click through and sign up.

Bybit - My preferred exchange for trading crypto. Over 100 tradable assets, super competitive spreads, and the best mobile trading platform I've ever used. Use the link below to receive up to $4,000 USD in bonuses. Limited time offer! Note: US clients must use a VPN.

iTrustCapital - Where I invest in crypto for my retirement account. These are self-directed IRAs where you can invest in dozens of crypto assets and even gold and silver. Right now they're offering $100 in BTC when you fund an account with at least $1,000. Use the link below to claim this offer. 

TraderSync- The crypto trading journal I use and trust. Enter trades manually or import from dozens of brokers/exchanges, including Bybit! Track your win rate, average return, profit factor and identify mistakes to improve your trading. 

Justin Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast.

My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig.

The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight.

Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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