Bitcoin (BTCUSD)

[lakers17]

BTC went to $80,500. Georgie called it exactly. Nice job! BTC and crypto investors stay the course. Don't waste any time with people slamming BTC and own nothing. For those looking to invest in crypto here are some simple rules:

10 simple rules for owning, buying and trading crypto:

1. Only invest what you can afford to lose. Stick with 85% large market cap cryptos and 15% mid cap and micro cryptos. Be aware the micros have way more risk.

2. Always check for crypto news on Google and use the best crypto site out there https://www.coinmarketcap.com Dex Tools and Gecko Terminal are also good sites. There are also some decent crypto posts and videos on X and Tik Tok as well if you know who to follow.

3. Use Investors Hub and other social media sites as a tool. But beware. You will quickly learn which posters know what they are doing. Don't listen to all the I-Hub bashers noise or anyone calling Bitcoin a scam. It isn't. Digital currency, blockchain and tokenization is for real and here to stay.

4. Always take profits and don't fall in love with any crypto. Leave emotion out of it.

5. Don't load only one crypto. Spread your money around even though Bitcoin (BTC) still controls what happens to most crypto. One day, hopefully that will change. As well, If in doubt, don't be afraid to sell (or buy) in smaller pieces. There is no reason to go all in or out. Some lower priced cryptos like XRP give you an easier chance for a 3X or more than BTC.

6. Always, always average down on the better ones you hold if they dip (DCA dollar coast average) It's time in the crypto market not timing the market. No one really knows when crypto will run big but it will usually once or twice a year. Crypto has huge volatility so make sure you can handle that.

7. Buy when there's blood in the street and fear is out there. On big price increases take some profits.

8. Crypto is macro. Buy and sell some but hold a core for the long term. People 18 to 50 have a great opportunity to hold for 20 to 30 years or longer for a nice retirement. Some call it generational wealth. But also buy stocks, precious metals and real estate.

9. Crypto is NOT a team sport. In the end it is your money to gain or lose. It is your decision whether to buy or sell not someone else's. Be wary of anyone giving crypto advice but own none.

10. Charts generally don't work in crypto. Daily charts in crypto mean absolutely nothing unless day trading which is not advisable for most. Be wary of trading crypto on leverage. The only chart really needed is the lifetime BTC chart. It shows over time that BTC even on big dips always comes back to establish new highs. Until it changes, which is needed in crypto, all major cryptos still follow BTC.