Bitcoin News: Mainstream Media is behind the curve!

Bitcoin News: Mainstream Media is behind the curve!

• Here is Barron's View of Bitcoin going down!
• Late to print this news.
• What did I end up doing after my Aug 10 Post?
• Using Options on BTC short-term price move
• Sept 2023 moves?

Here is Barron's View of Bitcoin going down!

In a

dated Sept 6, you can see they want to warn its reader that bitcoin is going down. It gives a price prediction of support at the 25K level.

Late to print this news.

The issue is not that the news is wrong or right but that it is late. If you look at my old post in PEAKD/LEOFinance, you can see on

, I talked about this with other supporting headlines at the time.

At the time, BTC was still over 29K. As of 9 a.m. (EST) on Sept 6, BTC is now under 26K! This means this news missed the 4K down move in the last 25 days (BTC price). What is the point of telling us the SUPPORT is near 25K when we are only $688 away from it?

What did I end up doing after my Aug 10 Post?

Part of my previous post had a section called "How can I use this information." If you know something will be cheaper and worth more in the future, then the Dollar cost average in BTC makes sense. I showed this concept using a chart below from Aug 10.

I purchased more BTC at $26.6K on August 23. As you can see, I am still in the asset accumulation mode. I am not worried about the price, but I buy more and more each time I have some extra cash to do so. If I believe BTC will trade at over $50K or $80K, why not keep on buying? I know I will make 100% or 220% of my money if I think.

Using Options for BTC's short-term price move

But to take advantage of the short-term move, I also have a long put on RIOT at $12, which should move lower if BTC drops. This has not worked out perfectly, but September has not fully played out yet. Today is only the 3rd trading day in September, so I have more time for this insurance "bet" to work. Remember that I'm LONG on BTC for the next 2 years, but it will have some downward price pressure in the short term.

Sept 2023 moves?

I'm still looking to DCA into more BTC. I will continue to look at selling some other assets and moving those into "GBTC" or "ETHE." I had added to my position when the markets discount those holdings. If BTC has a bull run in 2024 or 2025, I will happily continue HELD onto these holdings.

This is why I want to add more to my holdings if I know BTC will be trading over $45K after the halving in April 2024. It is just a matter of following a trading plan. I never go "all-in" or have a bet worth more than 10% of my net worth. If you stick to rules, that can protect you if things don't work out. On the return side, if I can make 50%-100%, that is a good return. There is potential for me to make 200% or more because I positioned myself early for this next bull run cycle.

Regarding what you do, this is an exciting time to follow BTC and ETHER. The industry is more mature and has many risks and opportunities for investors. Most people would agree that investing in BITCOIN differs significantly from buying Coke or Exxon Shares. Those are all 100-year-old companies with dividend yields.

Have a profitable day!
Solving-Chaos!

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