I'm not saying you're wrong, but the problem with your doom n gloom prediction is it's not bounded. you can say "the market's gonna crash" and if you don't put a qualifier like "within a year" on it, you'll eventually be right by accident.
She’s going to pop. There is no doubt about it. What is hard to know is how long can the can be kicked. It should’ve popped by now imo. Can it be postponed another year and we see new ATH throughout 2022, I don’t think so, but who the f*** knows. That makes timing the market impossible, but what you can do is position yourself in a way to have liquid cash for when it happens. There is no doubt it is happening imo.
Just a small blip today, but we shall see if the trend continues. I don’t try to time it. I do dollar cost averaging with my crypto and try to save a bit of cash for a good dip, but no one knows when that will be.
What do you consider a good dip, ETH and BTC are down 12-14 % in 2022 and ETH is down over 20% in 30 days.
I’ve been through enough dips that 20% swings over 30 days don’t phase me too much. I’ve bought from 65k all the way down to 53. Wouldn’t phase me too much if it returned to 12k US tbh. The only regret I’ll have is that I didn’t sell to accumulate more coins. I buy at any price point, but if it hits 40-45k CAD I’ll up my contribution a bit.
I thought big crash was here after rough start this morning. Good to see it comeback. Quite a scare though
Dude I think Rocky waters are ahead, but don’t make life altering decisions based on my feelings. You need to assess the situation and minimize your risk and weigh that with your risk tolerance. I think having some cash on hand now is a good idea, but I’m not suggesting you should selloff your portfolio. This could easily turn around and start turning in all time highs again. I’m saying I expect a huge correction, but who knows. This could drag on another year, maybe two.
If you have made enough to be set for life then your upmost priority should be wealth preservation. If you still want to go after gains then at the very least put aside enough into defensible positions (diversified ETF’s, etc.). Use only a smaller portion for over performance gains, like say 25% (or less) of your portfolio.
Why not sell a portion and keep some chips on the table? The post Covid recovery should be good, for a while anyways.
All financial genius are warning about a major stock market crash coming. I never seen that many on board before. Even to the point of going public with it. That is what is worrying me. Ray Dalio, Elon Musk, Robert Kiyosaki, to name a few. Makes me think how bad is?
I don’t think you need to be a genius to see where this is heading eventually. The genius would be to know when without insider knowledge. For the most part they don’t exist. If we had any way of knowing when we’d all be millionaires that never have to work again.
To be fair, there have been cries of a major crash for almost two decades. On average, there has been a major correction every ten years. We sorta had one in 2020 (catalyst: pandemic) but we rebounded so fast the correction might as well not have happened at all. Then we pilled on unprecedented debt under a year or two instead of decades. What this had told us is that the government (and by government, I'm talking the US government since they drive the world economy) can kick the can as far, as quickly and as hard as they want (print $$$) to the point where the old rules need not apply. All this to say, we can go a long time before the world falls over. Eventually, the US would need to face the music but that could be weeks, months, years, even decades from now. Ray Dalio is incredibly smart and I think, in general, he's right, but he's maneuvered for the crash to happen at any time and can survive a decade-long wait. Can we wait that long? I know I can't. I need to accumulate wealth now and worry about wealth preservation later...since at this point, I don't have 'wealth' to preserve. So yeah, we are due for a crash but the government is determined to deal with it "not today". So I plan to deal with it "not today".
Insider knowledge for when the crash will happen doesn't exist either. Sure, some insiders may see it before others but they probably won't see it fast enough for it to matter too much. Basically, when the 'Big' crash happens, we are all screwed. Maybe if we had our wealth in bitcoin we may be saved? Because fiat will mean nothing when this happens. Then again, if the end of days type crash happens, we may not even have electricity, in which case bitcoin won't matter much either
Doesnt phase me much either, but at the same point if there was a Jan 2018 type crash/dip I dont know if I could bring myself to put more cash in.
