I made 7% profit on my BTC Investment with a simple strategy!
If you are following me and my stories on using the Crypto Risk Index to inform my crypto trading strategy, you know that I wrote a story on May 13, 2023 that I was buying $5,000 worth of BTC when it was at $26,332. At that time, BTC Risk Index was at 20 (Low Risk).
You can read my previous stories here:
I am buying $5,000 BTC right now! (published in May 13, 2023)
How I am planning to invest $5,000 in Crypto?
How I made $13K (160% profit) using only the Crypto Risk Index!!
Simple strategy, Buy Low Risk, Sell High Risk
My strategy has been very simple, buy when the risk is Low, sell when the risk is High (or close to High, depending on your risk tolerance). So I followed the same simple strategy, and sold my position when BTC Risk Index was at 73 (High) and price was at $28,106 on May 28, 2023. With this simple trade, I made $336.85 which is 6.8% (or almost 7%). It’s not a lot of money, but it is 7% profit, and I happily took it.
What’s next?
Simple, I will wait until the BTC Risk drops below 25 (it is currently at 26, so very close, on June 5, 2023), and will re-invest my $5,336.85 in BTC. I will then wait patiently until BTC Risk reaches High and will sell. Very simple!
There is no Guarantee for Future Performance!
I should note that I am not a financial advisor, and this blog is NOT to advise buy, hold, sell, or do any crypto trading. It’s entirely up to you and you should do your own research. I am only sharing my experience using the Crypto Risk Index. Also, previous performance and price actions do not guarantee future performance, and you should be aware of the risks associated with crypto trading.
Have fun! Make some money! Enjoy it!
Final thoughts …
Crypto investing can be highly lucrative, but it also comes with a number of risks. Without a proper risk management strategy in place, investors can suffer significant losses when the markets go against them. As always, my advice is to manage your risks, understand the crypto markets, read the news, understand the assets you are investing in, and have proper exit or HODL strategy before entering any investments.
Keep in mind, the information provided in this blog is for informational purposes only, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the blog’s content as such. You need to do your own research and understand the underlying volatility and legal and political aspects of cryptocurrency markets. Also, you need to consult your legal, financial and tax advisors before investing in cryptocurrencies. There are risks in cryptocurrency investments. Do your own research and invest wisely.
