Have you ever heard of the phrase “Bitcoin massive returns in 10 Days? Well, according to the co-founder of Fundstrat’s, Tom Lee, there is a massive 10-day return for Bitcoin that investors can benefit from when they want to profit from the Bitcoin price today in dollars. In today’s Bitcoin news, we are going to examine Lee’s advice to cryptocurrency investors on how to make a profit from the Bitcoin price today in dollars.
Bitcoin Price Today In Dollars: When Is The Best Time To Profit From Bitcoin Trading?
Lee is a well-known figure in the financial sector. His contributions are never taken lightly because of his wealth of experience in investments. This time, he said that there is a 10-day window for massive investment in Bitcoin every year. Investors who hold during this ten-day period will benefit the most from trading. Lee said this during his latest interview with CNBC. He encouraged investors never to empty their portfolio no matter how low the price of BTC is going. In his words:
“I think that assuming digital assets are early stage, people have to have a portion of it as long-term holdings instead of trading it. Because if you don’t own Bitcoin for the best 10 days in any year, your annual return is -25% a year. So Bitcoin’s a losing asset most of the year, and then 10 days drive all the return.
Bitcoin (BTC) Price Today – BTC / USD
Lee suggests that if traders want to avoid trading at a loss within a 12-month period, they should make sure that a have a portion of BTC in their portfolio while they trade the rest. According to him, traders suffer BTC losses most part of the year but all these losses are typically covered for during the 10-day streak. Keep in mind that this phenomenon isn’t limited to Bitcoin. It’s something that happens to traditional trading assets just like S&P. So, instead of trying to figure out the best time to trade and failing to get it right, it’s a good idea to hold some of your Bitcoins throughout the entire year to avoid missing out on the 10-day massive winning streak.
He noted that two of the reasons why some traders don’t hold are that they are trying to time the best 10 days and they don’t know which asset will surge the highest. He continued:
“I think the reason you want to hodl is partly because of the timing – the 10 best days. And the other is that it’s hard to know which one of these assets is going to be the 100,000 to 1, and so you want to hold a basket.”
While Lee gave investors this Bitcoin trading tip, he made it clear that he doesn’t intend to give any new Bitcoin price prediction or Bitcoin price forecast. However, he acknowledged that the price action shows that Bitcoin is moving out of the 200-day moving average. So, traders should pay attention to the price action. He said that even if fundamentals may not always matter, technicals don’t lie. In his words:
“Technicals are hugely important. And I think the simplest one that has worked both in the equity market, and it works in crypto, is the 200-day moving average. Bitcoin’s below its 200-day moving average, pretty substantially below it right now.”
If the price of Bitcoin continues to stay above the $3,800 level, it will most likely move across the 200-day moving average in the next few months. When this happens, a Bitcoin bull run will follow and investors will be able to recover their losses 10 fold according to Lee.
What do you think about Lee’s prediction? Is there a 10-day winning streak that affects the Bitcoin price today in dollars? Kindly comment below.