I think the main difference between you and the plebs JJG,
Hahahaha
I am a pleb.
is having more than one bitcoin.
O.k. Presuming that I might possibly have more than one bitcoin, that one bitcoin is a good goal, and remember how long it had taken Mindrust to get to 2 digits? I am not going to suggest that I am better off than him or worse of than him.. at least where he was at. He was proud of reaching 10BTC and then either the same day or the next day, he sold everything..... Fuck.
So, yeah, depending on when we got in, we would probably create goals for ourselves, and if we are trying to be realistic, we don't overdo it, but at a certain point, we might be able to relax... kind of.. not completely, but kind of relax.
Who the hell can completely relax with such an ongoingly volatile asset that is likely NOT going to stop being volatile, and maybe there is some amount of comfort that almost every other investment has become volatile, too, in recent times, causing bitcoin to seem kind of normal... even though it is NOT normal and bitcoin continues to have way more upside volatility potential than many other investments, even though currently, it seems that there has been a lot of enthusiasm for gold, in recent times, so sure, gold might be able to outperform other assets, but that might not be asking for much, and getting a hold of physical gold or even selling it might be a nightmare, but maybe the goldbugs know how to maneuver those gold buying/selling circles.. maybe they do? Maybe? But there seems to be strangeness in liquidity and how you get it, sell it, and even if you have it, is anyone going to trust the purity of what you have?
New bitcoin collectors need the price of a bitcoin to be much higher to make any big consumerist dreams come true (a fancy car, bigger house).
If any of us were a new bitcoiner and just getting past our 1 bitcoin and it could take a while to reach double digits, even though double digits might not even be necessary.
Each of us just needs to work within our budget, and don't try to rush things too much. The great upside potential of bitcoin, might inspire some folks to feel as if they need to overinvest into it, but the fact of the matter is that the asymmetric bet nature of bitcoin likely means that you do not really need to overinvest in order to still be able to compliment any quasi-diversified investing portfolio that you might have established.
Part of the reason that I proclaim to have become overinvested in BTC is because I largely reached my investment allocation target into BTC in late 2014; however, the value of my investment was bouncing between 35% and 60% of the dollar value that I had put into it, so in other words, I was then ongoingly between 40% and 65% in the red... So I continued to invest my available fiat value into BTC, which caused me to go over my authorized allocation, and then even though the BTC price went shooting up, starting in late 2015, I rethought my whole allocation situation, and my plans to cash out on the way up, and I conscientiously decided to meter down my selling on the way up plan. I figured that I did not have to sell as much on the way up in order to still be fine with the whole risk allocation both psychologically and financially.
So, largely I have retained that perception of my own somewhat "overinvestment" status, which continues to cause me NO real preoccupation with shaving off some BTC here and there along the way, as needed (maybe similar to a Jimbo perspective - even though Jimbo had been in one more up cycle than me, which probably contributes to causing him to be even less emotionally attached than me in regards to any need that might cause him to shave off a bit more BTC here or there).
There will likely be selling pressure between $10k and $25k of people wanting to get out or having a large stash and need to diversify. Beyond that there might be a big vacuum: high new demand but little supply.
Seems really difficult to know, but I think that if we get into the $17,500 area, there is likely to be some inability to stop the UP for a little bit of time, once getting past that area.. but there could be some severe corrections before getting above that, and sure we have to get back above $10k and even above $13,880... so we should NOT be engaged in attempting to count too many chickens before they are hatched, yet I still get the feeling that a lot of intermediary newbies will be wanting lock in some profits in the price area that you suggested - but in the end, who the fuck cares about those overly anxious profit takers anyhow, because they are always talking BIG talk like they are getting out and making a killing on their BTC, and the same thing happened between $500 and $2,500 in 2016 and 2017, and so all the anxious to make profits in those price zones have not come back. I mean, are we going back between $500 and $2,500 so some of those overly anxious profit taking folks can buy some of their prematurely sold BTC back? Does not seem too likely.
Don't get me wrong, I am NOT saying that it is a problem that there was a lot of profit taking between $500 and $2,500 and I am also not saying that it was not prudent to shave off some profits through that price zone, just for insurance of not knowing if the BTC price is going to continue to go up, but problems develop when selling too much BTC too soon rather than the fact that they shaved off some profits along the way.
Similar is going to be true in the $10k to $25k zone, as you pointed out.
Surely, I don't see any problem with shaving off reasonable amounts, even though the BTC price is likely going to go past $25k and not really come back down.. but no problem shave a bit off a bit of profits along the way, but at the same time, it is going to be the better practice to NOT shave off so much as to NOT be prepared for UP, which is the more likely direction, even though it is going to seem unreasonable and outrageous, but there will need to be ongoing needs to prepare for up in that $10k to $25k price zone, even if we might get some pretty BIG scares in that time frame, just like we had the hardforking and related bullshit death of bitcoin scares in the $500 to $2,500 price arena in 2016 and 2017...
Remember breaking through $500 in May 2016, and then the August 2016 Bitfinex "hack" of nearly 120k BTC that so many folks considered to be a likely exchange exit scam and causing additional downward price pressures on BTC - that in the end, did not last more than a few months into October and November, and likely tricked a lot of folks out of their BTC..
Pour one out for Roach who is still (to the extent that fictional character still exists) obsessed about bitfinex(tether) causing the inevitable downfall of BTC.. and no one hardly even remembers bitfinex dominance or tether fud.. that still comes up from time to time but no one really knows what the fuck they are talking about... and why folks like Roach remain so bitter (again presuming the fictional character still exists).
But don't worry there are going to be equal or greater FUD incidents in this next round.
.. and what is the more likely scenario, prepare for plan B's stock to flow playing out without putting too many eggs in that one basket.. yeah, nothing is 100% or maybe not even much greater than 60%, but still... pee pare ur lil selfies for up
(not referring to you specifically, bitebits), even if skimming a bit of profits off of your profitable BTC along our upcoming journey .
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