Always share brother... new people can learn a lot from previous things that happened
Out of merit atm
Sorry
Thanks man. He doesn't follow BitcoinTalk/WO. Will show him the post when we reach 6 digits. Let it be a small record of his story.
Hopefully he does not get shaken out of his coins. When people are acting a bit weird, they sometimes want to cash in and buy themselves something nice.
I understand getting into bitcoin with a lump sum, but what about dollar cost averaging? He could continue to dollar cost average $50 per month or some modest amount so that he might continue to feel like he is active in his investment, rather than just waiting for it.
I think he should be alright, he is disciplined enough to HoDL for a little longer. DCA is a good idea (will discuss it with him), but his home country (Malaysia) is not very Bitcoin-friendly and it's not easy for him to buy or sell BTC there. He could wire me the fiat and I could do it for him, but he considers it too much of a hassle, and his finances are not great anyway, so he's just stuck with his 2.7 BTC for now. I guess that not being able to sell easily has worked to his advantage, preventing him from cashing out his coins as you said.
Well logistically, I can understand why you consider that there are potential problems, and of course, bitcoin liquidity avenues are frequently changing from location to location, and ever since I got into bitcoin (late 2013), I had always considered that it is best to be able to have a couple of avenues, at least, to be able to liquidate your investment, whether we are talking about bitcoin or any other investment. I had frequently advised people in real life to attempt to set up at least a few ways of holding coins and to attempt to have at least a couple of accounts in which they have already set up in order that they could liquidate, if they felt the need to accomplish such.
So, personally, I do not consider it good to be lacking in ways in which liquidation could take place, if push comes to shove. or for whatever reason(s) valid or not that a person might want to get out of their investment whether partially or in full.
The price seems to be moving around $9,100 to $9,300 for couple of days now. Kinda indicate of preparing for bull run or I'm being so optimistic here?
Sure.
Bitcoin could break either up or down,
or sideways....
So yeah, we might get a break towards the UPside. That is not overly optimistic, especially since it remains one of the possible reasonable outcomes.
Fact of the Day:
Americans who used their $1,200 Stimulus Check to buy bitcoin now have $1,705.
Seems like a good outcome. So far.
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