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- When is the Best Time to Buy Crypto? Simple 2-minute answer
When is the Best Time to Buy Crypto? Simple 2-minute answer
PLUS, is Coinbase a good investment?
Big Joe Crypto
July 26, 2023
Hey, this is Big Joe Crypto – your guide for those 'meh' moments.
When crypto feels more like a sleepy snail race, I'll keep you on your toes, because in this game, boredom can be a goldmine. Rise and shine! ☀️
Don’t fall asleep on crypto just yet… things are about to get interesting.
Here's what's happening today:
🥱 The crypto markets are boring right now. Time to buy?
📊 Why Coinbase could be the next TRILLION-dollar company
🥧 Institutions are buying up more of the crypto pie
Got big crypto questions?
💡 Just so you know, we include affiliate links into our content from time to time. If you decide to purchase anything from our partners using our links, we get a little crypto-crumble 🍪 – aka, “we get compensated”. It’s our way of keeping the lights on and the content high-quality at Big Joe Crypto. Learn more.
BIG MOVERS: THE CHARTS
*Prices as of 9:45 AM EST. BIG Movers based on top 300 cryptos by market cap.
TODAY’S BIG STORY
When is the best time to buy crypto? When it's BORING, and here's why
The news of the BlackRock's ETF isn’t “news” anymore, Ripple XRP has successfully defeated the SEC, and now... crypto is officially – boring. 🥱
But don't fall asleep just yet.
A little boredom in the crypto market is good for investors like you and me – here's why.
The big opportunity…
Bitcoin has been trading sideways, along with the rest of the market. It's not the dramatic spectacle we're used to, but here’s where I believe the opportunity is.
Making gains in the market usually happens when one of a few things happen…
1/ There’s blood in the street – this is a metaphor that says the best buying opportunities often emerge amidst market chaos and fear, even when that fear might be our own.
2/ Things are super boring (like they are now) – and that's when the smart money is made, away from the chaotic crowd.
Scenario #1 hasn’t quite played out this year (yet), but scenario #2 is definitely happening right now.
In fact, take a look at this chart of Bitcoin. It’s been trading between ~$31K and $29K for the last month.
My point is that everyone is waiting for something “big” to happen.
And although that big trigger up or down can happen at any moment, now’s the time to pay attention – even though the market feels super boring.
What I’m doing…
While we experience this period of b-o-r-e-d-o-m, I’m doing a 2 things.
1/ Buying more Bitcoin and crypto but being “cautious”
Remember, we could see a crash in Altcoins like I explained the other day, and BTC could dip too. That’s why I’m still buying, but I’m DCA-ing (dollar cost averaging).
In other words, i’m buying right now, but slowly… like a turtle 🐢 until we get more clarity on where the market is going.
If you want to see what coins I’m buying, check out my crypto portfolio.
2/ Keeping cash on the side in case there’s a bigger buying opportunity
If the crypto market crashes and BTC goes to $20K or lower, you bet ya’ I’m backing up the truck to buy WAY more. I’ll be using secure exchanges like Kraken to get mine.
🤔 Why you should care
Crypto investing isn't just about the thrill of big swings.
It's about spotting the underrated opportunities.
In these 'boring' periods, smart investors get into position.
Why?
Because once the crypto market starts heating up again (as it usually does), you'll be way ahead.
And you won’t let emotions get the best of you because you’ll be prepared for anything.
The market crashes – great, you can buy more.
The market pumps – great, you can ride the wave.
The market stays flat – fine, you can buy in slowly or prepare for the next market move.
So, take note:
This 'boring' phase might just be the golden opportunity you've been waiting for.
Embrace the quiet, so you can make noise when the market bounces back.
More Big News…
Is Coinbase a good investment right now? My views on the ‘COIN’ stock…
The big question…
Is Coinbase the next trillion-dollar company?
There’s no doubt that Coinbase is making big waves in the crypto space. So big in fact, that they just might be on a path to trillion-dollar status.
Here’s a couple of things Coinbase has going for it, that most people miss.
1/ They’ve been around for over 10 years. They’ve survived bear markets too.
2/ They stand up for the crypto space as a whole and didn’t back down to the SEC. They’re no pushover.
3/ When the SEC pretty much said “all these Bitcoin ETF applications, including BlackRock’s are incomplete”, Coinbase was the exchange of choice for most of the ETF applicants to make their filing “legit”.
4/ They’re a leader in a space that’s projected to grow A LOT in the next 5 to 10 years.
But that’s not all…
According to a Twitter thread by Ishan B, Coinbase is stepping up with 4 game-changing aspects:
Coinbase Consumer: A super friendly suite of products and services, making access to crypto as simple as pie.
Coinbase Institutional: A different level of crypto access for institutions. The big boys play here.
Coinbase Services: A powerhouse of additional offerings that push the boundaries of what a crypto platform can do.
Coinbase Onchain: Unleashing the power of blockchain like no other.
Plus, the Coinbase's UX/UI is in a league of its own - and they're not shy to charge a premium for it. The user experience is THAT good.
The cherry on top? A whopping 73% of adults trust Coinbase. In the murky waters of crypto exchanges, trust is as good as gold. 🥇
What’s the Coinbase stock price and should you buy?
Full Disclaimer: I do currently hold Coinbase stock, but this is not a recommendation to either buy, hold or sell.
As far as the price of COIN on the NASDAQ here’s what you need to know.
Price increase today: +2.29%
This month: +63.38%
This year: +173.36%
All time (wait for it) -73.83%
Ya… so it's not all rainbows and unicorns at the moment. 🫣
July 26, 2023 📈
The bad news: The SEC seems to be on a crypto warpath, with Coinbase in its crosshairs. They've alleged unlawful activities in securities trades.
This regulatory tug of war is putting pressure on Coinbase and it's impacting their share prices. Add in the cooling off from the crypto winter, and you've got a chilly outlook.
The good news: Despite these challenges, Coinbase is adapting.
Cost-cutting measures and increased efforts to regain trust might just pull them through.
Even with a predicted drop in revenue for 2023, they're expected to generate a positive adjusted EBITDA of $457 million.
And their current valuation? Not a bargain, but not exorbitantly high either.
Big Joe’s ‘Coinbase Conviction’: Despite the regulatory rollercoaster and crypto winter, there's something appealing about Coinbase's resilience and innovation.
However, remember, when you invest in Coinbase stock, you’re investing the crypto market, and the future of crypto.
If there’s a crypto market crash, Coinbase’s stock probably crashes too. If there’s a market pump, Coinbase’s stock goes along for the ride too. 🚀
The bottom line:
I’m big on the potential of Coinbase, but until the dust settles with the SEC, I’m treading lightly while I continue to average into my main cryptos.
TODAY'S BIG CRYPTO TIP
Keep Some Dry Powder!
“Dry powder” in the world of investing means to keep some cash on the sidelines, just in case an opportunity arises.
It’s like another way of saying “save for a rainy day”.
And in the volatile world of crypto, when it rains, it pours – so it’s smart to keep something on the sidelines because you never know what could happen.
In looking at how the markets are now and even with crypto related stocks like Coinbase’s COIN, it helps to have some “powder” on the side to take advantage of opportunities.
This gives you the flexibility to take advantage of sudden market dips and buy more of your favorite coins at a discount.
And not just that, when markets are boring (like they are now), you can either plan your next move, “nibble” at some of your favorite cryptos, or do both.
Either way, the key is not to go all-in at once, but to spread out your purchases over time, a strategy lovingly referred to as Dollar Cost Averaging (DCA). ❤️
Stay patient, stay disciplined, and you'll thank yourself later!
MORE BIG HEADLINES
🇩🇪 Binance withdraws crypto license from Germany. Oh nein!!
📊 Anchorage reports that institutions are buying up more of the crypto market, despite it being a bear market.
🦠 New malware aims to steal users’ crypto through fake blockchain games.
BIG LAUGHS! TODAY’S MEMES 😂 🤣
LOL! Depends. Here how to know when to sell your crypto.
DISCLAIMER: Nothing in this communication, or from Big Joe Crypto and associated bigjoecrypto.com domains is financial advice. It’s all educational and is not investment advice, a recommendation or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful, stay rational, and do your own research (DYOR).