Ok patience has once again paid off and though a swing trade may setup before the close of day, I mentioned weeks ago this was an area that I was looking to add for 90k. So that is what I am doing here adding some Bitcoin for 90k.
Now the instrument I am using is BITO. Yes I know I don't own the BTC but honestly, after the nightmares with accounting, and moreover the costs of accounting (2022 cost me $6500 in crypto accounting fees alone) I am going with BITO.
I know there are a lot of those mini traders that fill out 1040ez's, some coming off as "wizards" but they don't have real accounts with real money, they just are pay for trade. However when I realized I was paying $2k or more a year in accounting fees just for cryptos, I am going more simple so BITO is my instrument.
So adding BITO shares which will bring my BITO holdings up to 2% weighting in my one investment account. I will go up to 4% over time if the market allows.
Patience has paid off, and I am looking for a potential swing trade as well.
Now the instrument I am using is BITO. Yes I know I don't own the BTC but honestly, after the nightmares with accounting, and moreover the costs of accounting (2022 cost me $6500 in crypto accounting fees alone) I am going with BITO.
I know there are a lot of those mini traders that fill out 1040ez's, some coming off as "wizards" but they don't have real accounts with real money, they just are pay for trade. However when I realized I was paying $2k or more a year in accounting fees just for cryptos, I am going more simple so BITO is my instrument.
So adding BITO shares which will bring my BITO holdings up to 2% weighting in my one investment account. I will go up to 4% over time if the market allows.
Patience has paid off, and I am looking for a potential swing trade as well.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.