I bought some bitcoin a long time ago, an amount that for me was modest and I could afford to lose, call it X. By 2018 my holding was worth 3X, so I cashed out X and was left with 2X value of bitcoin. I was really pleased, I'm not wealthy, at the time I decided I couldn't afford to keep risking one day possibly totally losing my X investment, and I was happy to just leave my 2X there and see what it became. I never planned to buy more bitcoin.
I've loved following it ever since and was amazed to see bitcoin hit $120k.
I'm still not wealthy, but the recent dip has got me thinking that it just seems clear that there'll be another spike again, and it would be foolish to not try my same tactic again, though this time scaled down.
So thinking of buying again, this time value Y, waiting until bitcoin value doubles, cashing out Y but having increased my overall bitcoin holding value.
Am I mad? I'm looking for logical opinions, not full on bitcoin bias ones, because I love bitcoin but I have to balance with it was everyday life considerations too.
I got in and out a long time ago, is now a chance to buy again?
byu/bucky_o_hare_ inBitcoin
Posted by bucky_o_hare_
12 Comments
Now is still a excellent time to enter. Bitcoin is still low from ATH.
Don’t buy any, mate. Learn what Bitcoin is first. You clearly need to do that.
Just dca small amounts until you reach your x or y amount and try your tactic again or even try hold for longer until it’s 10x
You’re not mad, bitcoin is for life, can definitely keep stacking
Not mad. Your approach is basically de-risking while keeping upside which a lot of people try to do. The part that matters most is timing, doubling sounds simple but BTC doesn’t move in clean cycles, you might wait longer or panic early. A practical step is to decide your exit levels before buying not after price moves. Also remember taxes and exchange verification can affect your actual take when you cash out. Are you planning to buy in one go or average in over time?
Ya it’s a good time
I keep things simple. 1% of my paycheck goes into bitcoin, I buy $10 worth every Tuesday, and I also keep the change of every debit transaction into bitcoin. Over the past 4 years, I have made over 3500 BTC purchases of values below .99 cents. It’s not so much money on a week to week basis that we ever notice it gone, however what it has turned into is the most money my wife and I have ever saved before. Bitcoin is my silver lining.
not mad. That’s a solid approach. Just don’t assume it will play out the same way agai. If you do it, stick to your plan and don’t let emotions take over. If you want unbiased opinions, check Blueblocx for better context
not crazy, just make sure the amount you put in is something you’re completely fine losing.
its as good a time as any.
I could support you buying now
I am glad I never ever sold any of mine until 120k. Still have 95% of it though so I didn’t sell a ton. I only sold enough for four years of no work. So now I just wait til the next bull while not having to work. 😝