Mark Yusko says the best time to sell bitcoin is never...
There are some caveats to that of course, because if you could time the markets you would obviously end up with more bitcoin in the long run by selling rips and buying dips.
However, there are very few people on the planet that can successfully time markets in the long run, it's virtually impossible to do it over a long period of time.
Many can do it for a short period of time, but eventually the market's randomness catches up with them.
Which is exactly Yusko's point.
Who is Mark Yusko?
Mark Yusko is the CEO of Morgan Creek Capital, an advisory firm that has a strong interest in bitcoin for its diversification abilities.
https://www.morgancreekcap.com/
He has been championing the idea that just about every portfolio should have at least some exposure to bitcoin.
According to Yusko, Bitcoin should be bought on dips (like we saw last week) and held, well, forever.
Why does Yusko say not to sell bitcoin?
According to Yusko, all the fundamentals just keep improving over time, something that means prices should also improve over time:
"All the indicators of the network and the network value are rising; the price of any asset fluctuates.”
Examples include the network hash rate, transaction volume and wallet numbers, all of which have continued their upward trajectory this year.
He went on to compare it to the stock of Amazon, something that anyone who tried to time Amazon stock sales would have likely missed out on the biggest gains as the price continues to make new highs.
He fully expects the value of bitcoin to continue to rise and rise as time goes on as well. Hopefully he is right!
Stay informed my friends.
-Doc