Great to see that you are investing gradually everyweek , if you will maintain this increase each week then you will be putting thousand dollars after couple of months investing?
I have been doing the same thing but with fix amount per 15days( because that is my Payday) amounting 40$ every 15 days means 80 dollars a month and that is i can only afford for now.
But all the amount i earn from other money making i do is also dropping for my investment .
Will be following this thread if how long will you make it to the top.
How long have you been doing that, bitterguy?
At least 6 months now , though i have second thoughts of selling when the price rose up to 64k and i did sell half of my funds and re invest when the price drops down to 40k again.
Fair enough... If you are in accumulation phase, then you should be pretty hesitant about selling much if any, and selling 50% is a lot, but at least that part did work out for you, even though it does not seem to be the better of practices while in an accumulation phase. Once you have reached accumulation goals, then it becomes more justifiable to be shaving off some profits on price peaks.. but playing around with 50% seems like a lot to be playing around with.
With my Heart Pounding so fast before Pressing the Sell button lol , I personally ask my Wife's advise that time because you are correct as i am in Accumulating stage that time and Losing when increase continues to happen will really affect my next decisioning but Lucky as the situation favors me.
Bur surely? i will never risk that same action ever again, I will continue to accumulate every 15 days now without Looking for actual Price of Bitcoin in market so i don't have to have another thoughts before acting.
Yeah.. each of us has to attempt to look at our situation and the whole scheme of things.. in terms of your personal circumstances.. and how you are approaching your BTC investment.
I know that I have told so many variations of my same story over and over, so sometimes I am not sure if I should repeat some variant, but when I got into bitcoin in late 2013, I had already had more than 20 years investing in various tradional investment asset classes, and overall I had not done badly for myself so when I came across bitcoin I already had various categories of diversification and even cash set aside .. and some variations of best practices, even though my various investment portfolios had never really had any kinds of levels of great performance.
So, I came into bitcoin looking for a kind of investment that was like gold and could hedge my various dollar based investments, but when I looked at actual gold, I did not like the fees, the difficulties with physical storage and the sense of seeming phoniness in holding paper versions, so bitcoin struck me as a great substitute for something like gold, but for about a year of DCAing into bitcoin and kind of attempting to front load my investing into BTC, I still really did not have comfortable in terms of what my target accumulation number was supposed to be until somewhere when I got to the end of 2014, and I had invested around 10% of my total investment portfolio into bitcoin.. so therefore, it kind of struck me, at that point, that my BTC investment had reached a high enough level, and I no longer needed to feel any kind of urgency in terms of whether I had enough stake or if I felt that I was sufficiently prepared for UP, in the event BTC prices were to go up from that point.
Even though by the end of 2014, I felt that I had enough BTC, through much of 2015 and 2016, I still continued to DCA buy into bitcoin and whenever I sold any BTC, I felt a kind of urgency in regards to buying back whatever I sold within that same week or so..
I figured by the end of 2015, my BTC accumulation level had gotten to be around 13.5% of the value of all of my investment portfolio, so I started to feel that I was overinvested into BTC, because somewhere along the line I had concluded that my target level was supposed to be 10%, but I had gone beyond my target.
I understand that it might sound a bit strange, because even after I figured that I had overly invested in BTC (in terms of my own goals/targets), so I had developed some willingness to sell portions of my BTC as the price went up, but somewhere when BTC prices went from $600-ish in late 2016 to $2k-ish in early 2017, I started to conclude that I did not even want to sell BIG chunks of BTC and I was just going to sell small chunks up whatever price increases and just let the whole matter play out however, it would
so we know what happened in terms of the price going up to $20k andf then correcting back down to $3k and then getting stuck in $6k to $9k prices for a decently long stretch of time.
So, of course, my way of dealing with bitcoin as an investment might NOT be a very good role model for anyone who might be in their first 20 years of investing, because bitcoin was not around for my first 20 years of investing
so having a current option of bitcoin and figuring out how to deal with it can be quite challenging, even though there are a decent number of people in bitcoin in their early years of investing who have concluded that attempting to take an aggressive stake in bitcoin is an important approach to the matter
so one of my concerns is that I generally do not believe that selling BTC to accumulate BTC is not a good accumulation strategy until you reach a certain higher or overly higher level of accumulation.. yet I know that the way that BTC accumulators set their targets is going to vary
even if they recognize DCA buying to be a great longer term, BTC accumulation strategy.