Technician Dan McDermitt debates analyst Ronnie Moas on the validity of trading versus hodling.
This week, technical analyst Dan McDermitt of The Chart Guys educational platform debates Standpoint Research founder Ronnie Moas on trading versus holding.
Can traders really outperform a simple buy and hold Bitcoin investment strategy?
McDermitt sees trading as a profitable route. “Had I just bought and held, I would be doing a lot more poorly than my current trading,” he said. McDermitt said trading over the past two and a half years has netted him between 3,000% and 5,000% in profits, whereas simply buying and holding Ethereum would have only yielded 500-600% in the same time frame.
Moas, on the other hand, does not think technical analysis works. Preferring to buy and hold, Moas does not think traders can beat a simple Bitcoin investment. “We’ve had tens of thousands of candles on the Bitcoin chart in the last few years,” Moas said. “Half of them are green, half of them are red and we’re in the same spot on the Bitcoin price that we were a few years ago,” he added. “Good luck trying to find a pattern there.”
The two also talk about Bitcoin’s current price action, its volatility, its place as a medium of exchange and several other topics.
Source: , CoinTelegraph
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