Quote (Sicktricks @ Jan 18 2018 12:12am)
stable my ass. it aint safe til it breaks 12k and pushes more
could fall through 11k any minute
I said it was stable during those hours. It's still above 11k but nobody knows for sure yet if it's going to drop again or finally recover and rise.
Btw, interesting read here:
https://www.reddit.com/r/CryptoCurrency/comments/7r4vlc/why_we_wont_have_a_long_term_bear_market_and_how/Quote
What should long term investors do?
For long term holders a good strategy to follow each year is to capture profit each December and swallow the capital gains taxation liability, park a reserve of fiat at Gemini (whose US dollar deposits are FDIC-insured) and simply wait till around late January to early February to re-enter the market at a discount and hold all year until next December. You can keep a small amount in core coins in order to trade around various Q1 opportunities you anticipate. Others may choose to simply do nothing and just keep holding throughout January which is also a perfectly fine strategy. The cyclical correction usually stabilizes toward late January and early February, then we see a rise in March and generally are recovered by end of April. Obviously this decision whether to sell in December to profit on the dip and pay tax liability or to just hold will depend on your individual tax situation. Do your own math sometime in November and follow suit.