September 30, 2020

When was the right time to sell bitcoin? Never!

When was the right time to sell bitcoin? Never!

Bitcoin is a purchase, and there is no suitable time to sell this asset. About it on Thursday, 26 September, 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 costs are growing, and the price of any asset fluctuates.”

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.