The thing is... What really matters are not ATH but bottoms. I mean, reaching or even surpassing some arbitrary utopian figure like $100K would be awesome but... unless one plans to sell it all/most trying to catch the ATH -which is risky business in itself- what really will count in the long term is how high the bottom afterwards will be.
Why do I say this? Because I think I am starting to delude myself into thinking that the next bottom will be high enough that I won't care about the correction/crash and not having sold at the top. Yes, I am thinking/hoping not only the next ATH is sky high, but the bottom is over the previous ATH ($19K). Something that will probably be the same mistake I did the last couple of times. And I will regret later.
But why am I posting this? I don't know, I am just thinking out loud.
#thelifeofthehodler
I am thinking OUT LOUD too that you are going to regret not selling more BTC at $250k (or whatever) when the BTC price dips (crashes) back down to $29k or something like that.
It's not easy taking a BIG ASS cut in your networth, even if you are still nearly a millionnaire (after the price dip) with your about 30-ish coins rather than a multi-millionnaire...
It is still going to hurt to have less of a cushion from such a drastic price correction, even if you remain quite (perhaps even something approaching "filthy") rich.
I don't know how each member lives or wanna live or do or....
I would just suggest HODL and when the time is there when you can take the profit to support your life goal etc
Like for probably many a nice house, some stuff, little fiat to support those achievements... Maybe take care of that but not a single coin more should be sold (th written here is already a generous take from the stash imo) and if lucky and it would DIP deep then maybe the spare cash could provide a BTFD to recover the sold coins... This would be the dream scenario
There are probably a decent number of people who have invested in bitcoin, yet they live very modest lives - meaning that they do have either luxuries or an ability to really live in an extravagant way that is beyond the average person in their country.
However, Bitcoin might provide an opportunity that is much beyond the returns of their other investments - which falls in the category of "life changing" wealth.
Accordingly, rather than holding onto ALL BTC, there may be certain points in time that these "normal" mere mortals should exercise some prudence, including cashing out portions of their BTC in order to realize some of the profits - whether or not they later have "opportunities" to buy more BTC at a lower price.
What price point for skimming off some BTC profits is going to vary for many folks - yet part of the point of my earlier post was to suggest that cashing out some BTC in the $100k to $250k range might be quite prudent, and actually, it might be quite prudent for folks to cash out some BTC at prices quite a bit lower than that kind of $100k to $250k price range...
Also, let's attempt to stay real regarding what could actually happen, and there is far from any guarantee that BTC prices will come even close to reaching such astronomical levels - so in that regard, there could be some prudence to be cashing out small amounts of BTC all along, including now, that is if you are in considerable profits... and also depending on your timeline, etc etc etc.
Now if you are just learning about BTC, and just establishing your stake in BTC, then that is a bit of a different story - but those folks who have been in BTC for a while, including the one who I was initially responding to (bitserve) may recognize some value in cashing out some BTC during the next bubble (presuming it comes) and might find that they are overblowing their speculations about NOT feeling "dread" during the next crash (which is almost as certain as anything else in BTC - even though we cannot really know the boundaries without any certainty).
By the way, I already had witnessed a kind of level of dread that bitserve had been expressing during our previous correction - especially when we were in the sub $4k territory to speculate that the mere fact that he might be 10x richer in terms of BTC value during the next BTC price bubble (again presuming it comes) will still likely cause him a decent amount of dread, once again, in spite of being 10x richer in terms of BTC value.
One way to lessen some of the dread is to cash out some comfortable portions, and to learn not to be second-guessing yourself - because it is almost inevitable that the BTC price is going to correct beyond expectations - but that mere inevitability should not justify changing the previously established plan by causing a selling of BTC on the way down (or failing to buy btc on the way down)... because there is no guarantee that if any guys (or gal) either sells BTC on the way down or fails/refuses to buy on the way down will be able to profit from further down (that might not happen).
Poll
