Next time, I am not waiting even for a new ATH, will probably sell a large % portion earlier (if we ever get there-to my undisclosed current sell target).
It feels silly to sell at 16K, though, so I don't.
You're going to end up really disappointed if you do that.
Well, I already did not sell twice: at 20K in 2017 and 69K in 2021, there would NOT be a 3rd time.
Albeit, I also did not 'mindtrust' at $175 in 2015, $3100 in 2018 and $3800 in 2020.
Part of it is age...waiting for 10 years makes no sense to me.
However, I am not going to sell all...maybe 30-40% or so.
Personally I can understand this if it's age-based reasoning. Unless your intent is to pass your Bitcoin down to your children or likewise than I can understand wanting to spend some of your Bitcoin in your older age. Assuming you're of an older age that is. I'm also aware of your general target that's similar to mine around $50K, which doesn't seem unreasonable next year and would likely be a good selling opportunity imo.
The difference being for me would be selling a decent portion next year around $50K would be in order to wait for lower prices. A years worth of accumulation will likely lead to a years worth of distribution, during this period Bitcoin will likely return to relatively low prices. That said, if it takes until 2024 to reach $50K then I wouldn't be interested in selling, as there would have been enough consolidation.
13 years have passed, everyone got scars, but there is no "system", would you agree?
At this point, i am not sure if it would be possible as many were trying and so far nothing major had happened. Maybe soon
.
I do somewhat agree, I think Bitcoin over past few years may have gotten ahead of itself based on it's valuation. In reality, a billion dollar asset should be a functioning popular system, as opposed to a theoretically popular one. Sure it's being used in hyper-inflationary driven countries, but this is far from "popular" adoption by any means, and it may take much longer than many of us think to reach this adoption.
I still think it's heading in the right direction, nothing has changed there, but we're still a long way away from it being adopted as a reserve asset or popular currency within stable economies.
And like it or not no one knows if LN network kills off mining or helps mining down the road.
Could be
BTC = big bond 100000 dollar note
LTC/DOGE = smaller money.
Doge has solved the what happens if rewards vanish
Doge has ever decreasing inflation rate.
100% year 1
10% year 11
1% year 101
Just saying that we have an issue with btc that makes fear. rewards are next to nothing in 2060
Never understood your reasoning for LTC/DOGE personally, and I say this as an avid shitcoin speculator - when I consider the time to be right for it that is.
For starters, Litecoin has been in a downtrend against Bitcoin since 2013 after further peaks in summer 2017. 2021 altcoin season only further confirmed it's weakness, so I fail to see LTC's relevance anymore. Once Top 3, now Top 20. Note how it was outperforming Bitcoin as a cheaper-to-transact POW currency until SegWit. It's only been down hill from there, as there is no longer any genuine utility for LTC.
As for Doge, there are many similarities that I see. While it has outperformed Bitcoin since it's existence - and even overlooking it's Musk-driven meme-based bull run - it's currently the cheapest to transact POW currency in the Top 10. But the question is, for how long? To me the comparison to Litecoin is very relevant here, because like LTC once SegWit was implemented (first on Litecoin & Vertcoin iroinically), it became useless. So while it will likely continue to outperform Bitcoin in the near future due to it's advantage of cheap transactions, what happens when LN is further integrated and utilised?
The irony being that for things like VPN I use Doge, as it's cheaper. But if VPN services had LN integrated, I'd obviously use that instead. Just my theory anyway, let's see how it plays out.
Hopefully you are keeping the overwhelming majority (if not all of it) of your BTC purchase within some forms of self-custody, and not on exchanges. Let's say something like 90% in self-custody, and no more than 10% with any third-parties of exchanges or similar.
Just wanted to add that the above is great advise. Also if you are trading bitcoin for shitcoins it can help force you into taking profits. For example last year having a 5% trading account on exchanges grew to 15%, so I was then obliged to cull it to 10% again in order to reduce risk. Avoiding the insanity of shitcoin self-custody, this naturally involved selling back to BTC in order to withdraw back to cold storage.
However it's worth noting that my 10% trading account is now only 1% due to recent events. Even though it was based on Binance (which I doubt will go bankrupt anytime soon) it doesn't seem worth the risk to hold more capital than necessary on exchanges at present. Mainly, I just wanted to be part of the withdrawing coins off exchanges party that's currently going on right now
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