Thanks to Revolut, I can transfer to any exchange fiat and buy in 2s. This is my 3rd purchase in 2 days. (I would NOT reccomend buying inside Revolut, since the fee is 3% - just insane!)
Seems to always be important to keep fees in mind when comparing various ways to accumulate bitcoin because 0.25% versus 0.75% versus 3% or even more can make a lot of differences, and even moreso if selling and buying back because there needs to consider both sides (which of course doubles the amount) but then to realize if there is any profits involved when engaging in any kinds of transactions - not that anyone here is really advocating selling and buying back, even though it does happen - and may well not be a bad thing to do in order to lessen the impact of wide BTC price swings but also to provide some level of insurance - especially if some guys (and gal too) may well have some decently large allocations into bitcoin, including some overallocation in some cases - again can become more the case if into bitcoin for a decently long period of time when either 1) the BTC price is down for a very long time and then there might be a certain calculation to keep buying BTC beyond preferred levels of allocation - for example going into bitcoin at levels greater than your authorization amounts that may well start out in a 1% to 25% allocation range.. or 2) BTC prices appreciate way overly proportional to other assets in your overall investment portfolio.
Suddenly the dusty scheme of rebuying back is on the table. I don't have any hopes or illusions for low prices, but I prefer to make a precise calculation in advance, in case some more crashes are incoming. I don't have problems buying in crashes. On the contrary, I feel like a shark preying in bloody waters
But, I have a problem selling too much in the early stage of a big bull run. I knew 15K-30K was a dead zone, but I just couldn't resist after all those years of crashes. This mistake is still haunting my dreams.
A likely great thing from your own situation remains that sometimes it really might end up paying off to be able to get an opportunity to wait out a mistake and be able to rectify it in part or in whole.
Surely, it can be very difficult to wait for the price to come to you (BTC in this case) when it may well not end up happening.. so surely a painful process that so many folks would have a lot of challenges to hold their line and wait it out... even over a couple of years.. (and still even now, it may or may not happen... but that still remains completely in your discretion whether you need to be in actual profits or break even, or at a reasonable point of a lesser loss).
It seems that for my psychology it is easier not to sell anything than to sell a small amount and keeping it that way. Hopefully, next time I will not fall for that.
For sure, you are going to be in a much better position to figure out what lesson that you got out of your particular conceded mistake. There are some folks that might consider that you did the right thing, but it was a matter of the amount of BTC that you sold rather than your having had sold at all.
Of course, you have to calculate a formula that works for you both on a financial and psychological level, and furthermore be willing to live with the possibility that whatever amount that you sold at whatever level might never come back... sure it is possible that your number should have been zero rather than a mere reduction of the amount, yet it still seems to me that largely, your mistake ended up being that you had placed too high of odds that the BTC price was going to correct back down below your sell levels, and largely you ended up gambling rather than truly and totally having had sold a small enough amount that you would have been willing to live with the BTC price never coming back down Yes, you ended up living with it, but mostly because you were forced, and you did not want to engage in behaviors to potentially compound your realized earlier mistake.
Anyhow, it seems my point is to suggest that it was a matter of degree rather than kind. .even though for you, you had not figured out an amount that would have ended up satisfying you to have had been able to not regret the BTC sale that you did. .so maybe in the end, the right amount for you personally would have been zero.. even though I doubt that to be true - if you really thought through the matter, there may well have been some lower number whether 50% of the original amount that you sold, or 30% or 15% or something that could have better satisfied you in a way that you would have had been both financially
and psychologically (as you emphasized) prepared for the BTC price to go in either direction after you had made your earlier sub $30k sale.
I know better times are coming soon after this bear BS is over. Well, now I have some fiat in the bank unlike before, when I was all in.
For sure, it feels so much better to have some levels of preparations, and over the past 12 months or so of so many extended DOWNities that had seemed beyond the scope of expectations, I probably have ended up having to restructure myself on at least three occasions
(the most recent in the past few days) to tweak and readjust to put myself in a better
psychological and financial position.. my own emphasis on psychological first because it ends up being my own personal balancing even though we know that both of them play upon each other in the sense that if you have your finances in a place that makes sense, then that will also make you feel better psychologically too..
Just to say, my adjustments of the past few days had to do with certain level of lack of balance that I had felt in some of my BTC buy orders both approaching the 100-week moving average (which is currently at $35k - and we just went below it)..and buy orders that I had outstanding down to the 200-week moving average and how much of a cushion below the 200-week moving average that I would like to maintain (or establish), and yeah currently the 200-week moving average is just wee bit over $21.7k - and for sure, I feel no kinds of rejoicing when the BTC prices are going down.. but going through the whole matter, looking at how much of a percentage below the 200-week moving average of a spike I would like to make or retain, and making the adjustments of rebalancing and reconsidering all of my BTC buy orders from here down to the 200-week moving average caused me top feel like I am doing the best that I can under the negative circumstances that seem to be spreading through all markets currently.. (even as I type.. with a currently decently strong challenge of $30k which is looking likely to get below $30k with such momentum and even spike down to $30,331 within the past 10 minutes)
This makes me more comfortable not selling at all in future. May be some day I could buy even a house with a BTCitcoin backed loan, so I really may not need to sell for fiat at all.
I am quite skeptical of some of the current products that are available in this direction, even though for sure there are some guys who are in positions like Michael Saylor who can really negotiate decent terms - and I am thinking that some of the product offerings are going to be forced into future improvements so you may well end up being correct about being able to leverage BTC holdings a bit better than seems to be practical/feasible through current products and/or with folks who do not also own a whole hell of a lot of other assets and/or also having pretty strong cashflows too... like Michael Saylor.
Don't get me wrong because I do recognize and appreciate that there are ways that guys can structure their various assets and cashflows, but I find it a bit frustrating for too much talking up of the concept and then allowing for the so many scam terms of current products and/or that guys have not diversified enough in their own assets or having a cashflow to actually cause themselves to be in a good position to negotiate good terms .. again with the seemingly scammy current products.
Poll
