June 22, 2024

When was the right time to sell bitcoin? Never!

When was the right time to sell bitcoin? Never!

Bitcoin is a buy and there is no right time to sell this asset. About this on Thursday, 26September, said founder and CEO of Morgan Creek Capital hedge fund Mark Yusko on the CNN Fast Money program.

Yusko recommended buying bitcoin “for everyconvenient opportunity, ”noting that the daily volatility of the price of bitcoin“ does not matter. ” And although the price of bitcoin can rise and fall significantly, annual growth gives good reason to buy, not sell.

He said:

«All network indicators and network value are growing, and the price of any asset is fluctuating».

Such indicators are network hash rate, volumeBTC transactions and number of addresses. Thus, says Yusko, selling Bitcoin will be similar to selling shares in Amazon - so far there has not been a favorable moment for this.

“Every year, including this year, Bitcoin showed double-digit drawdowns. The average drawdown from the peak to a minimum is 31%, twice it was 90%. When was the right time to sell? Never"“He concluded.