Cryptocurrency trader and investor Trader Mayne shares his insights about DonAlt’s tweet on buying low. DonAlt recently shared a Bitcoin chart and highlighted that he is willing to lose the investment to gain more than 5x. He also added that he hasn’t finished buying and can buy lower if need be.
Mayne agreed with Don and stated that users are getting a 5x return on investments if BTC and ETH make new all-time highs in the future. He also stressed that it is a better ROI than day trading.
Mayne also stressed that $10-$20k BTC and $500-$1000 ETH buys will look really smart in a few years. He stated that no matter what goes wrong and prices fall, it is still a buying opportunity that is a bet on the survival of crypto.
He also stressed the importance of having the patience and willpower to stay in the position through the ups and downs. Mayne also stated that he would set his stop loss at $1 in the event that he and Don both lose and he still has a dollar more than Don.
The views by traders come amid a time when the cryptocurrency market has been struck hard due to the FTX event. The crypto behemoth recently collapsed due to liquidity crunches, and its ripples were visible in the whole cryptocurrency market.
The prices of major cryptocurrencies, including BTC and ETH, also fell as they were trading around the $15,000 and $1,000 levels, respectively. However, many traders consider the bear market a buying opportunity in anticipation of the next bull run.
The post Trader Mayne Says BTC and ETH Can Give Better ROI Than Day Trading appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
