I personally consider selling as a bad way to accumulate bitcoin, so it is best to keep buying, especially if you are a newbie.
It is difficult to know whether you consider yourself as a newbie or an OG, Shishir99, since you have been registered here since early 2017, so surely it could have had been possible that you have accumulated enough or more than enough BTC.
I am not a newcomer to the forum. However, when it comes to having faith in Bitcoin and starting to accumulate it, I am relatively new to the concept. I actually didn't accumulate Bitcoin. I earned some Bitcoin and other cryptocurrencies from various campaigns, projects, and websites, but I mostly spend them on buying gadgets, shirts, and that's it. I didn't make thousands of dollars at that time. But I am sure I could have had thousands of dollars if I had saved them in a wallet. I started accumulating Bitcoin for the last two years, maybe? However, I also sold some portions to buy things.
You surely have an advantage over folks who don't know about bitcoin, even if you seem to have had been making mistakes in the past and not recognizing the importance in accumulating bitcoin.
Perhaps you are able to correct your ways of thinking, and at some point start to think about bitcoin differently, since many of us likely recognize and appreciate that any and all people who have discretionary income can be advantaged by accumulating bitcoin in a focused way for perhaps one or two cycles or more, and surely the amount of discretionary income that a person has and also the amount that they are able to prioritize bitcoin investing and/or perhaps front load their investment, then they can get to a status where it becomes reasonable to spend their bitcoin.
Of course, I am not against spend and replace, and I also recognize that guys who earn income in bitcoin might be more forced to sell some of their bitcoin to cover their regular expenses, so calculations might be somewhat different for guys who are earning in bitcoin or maybe engaged in activities where they are spending and replacing bitcoin, yet at the same time, we seem to be in the midst of perhaps the largest peaceful wealth transfer known to mankind from the no coiners and low coiners and over to the coiners, so each of us who has coins or obtains coins are likely going to benefit more directly from such wealth transfer as contrasted to those who either do not have coins or are lackadaisical in regards to how many coins they choose to have (especially when they have way fewer coins than what they could have had). In the end, its totally up to you to figure out how much importance you want to place on bitcoin accumulation to attempt to do it sooner rather than later.
I am still holding some sats, and I am getting paid in Bitcoin from the signature campaign. I saved a portion of the payment. I am now in confusion because I don't know what to do in the current market. I know the market won't continue to grow; it will likely decline again. Shouldn't I sell some portion again and hold some fiat so I can buy back when the market goes down?
Of course, you can do whatever you like, yet personally, I don't recommend selling any bitcoin until you reach overaccumulation status, even if you perceive the BTC price to be high. If you have not been spending the past-ish years accumulating bitcoin, then you better get started.
You may or may not be able to get bitcoin cheaper than today's prices, and since you don't know it is best to be accumulating bitcoin through buying in a way that is persistent, consistent, regular, ongoing and perhaps even aggressive.. it can take 4-10 years or longer to really accumulate a decently good sized bitcoin stash..
Let's say that in the past 8-ish years, you had an income that had largely been between $30k and $50k per year, and you had largely been investing around $100 per week into bitcoin, so then you
would have had invested right around $42k and you would have had accumulated right around 4.3 BTC. If your goal was to be able to live off of your investment and to have right around an $80k per year income, you would still be in the process of building up your bitcoin to that goal.
From my perspective,
right now 4.3 BTC would merely be capable of generating a sustainable income of about $23k per year, it also seems to me that whether you continued to add to that stash or not,
by 2028, if your BTC stash were to be anywhere between 4.3 and 5 BTC, you would be in a position to be able to sustainably (meaning forever and ever) generate an income of at least $80k per year.. .including with annual increases in your income of 7%. I think that would be a good place to build towards, yet each person creates and builds towards his own goals.
@CryptoJelleNLThis cycle - on average, a weekly stochastic RSI cross results in a 35% gain.
So far, we're up just 6% from where the cross happened.
Lots more room to grow for #Bitcoin.
Target remains $150k. 📈
https://x.com/cryptojellenl/status/1975575120182976747Seems we’re having a little cool off at the moment. Down to $122,000 from $126,000 ATH. I’d like to see $120,000 hold, it’s just a little cool off then.
Eyes still on >$150,000 though boys. Come on man, just one more leg up 🙏🏻
We have not had a whole hell of a lot of blow off UP, yet our corrections have not been very great either. Ever since about October 2023, we probably have only had 1 or 2 corrections that might have gotten into the mid-20% territory or greater, with the correction from $109k to $74k being right about 30%. Other corrections have largely been in the 5% to 15% territory, and surely nothing to write home about if they cannot at least get to double digits (not that I am rooting for down).. I surely would prefer to keep grinding up, and I expect that at some point the amount of up is going to "be allowed" to run a bit more (not that bears really have a choice).
I bet what is going on is that the bearwhales are reading your posts, and they are purposefully slowing down our move to $150k, just to fuck with you, LFC... Since from reading your posts, they surely would know which OG bullwhale to fuck with... hahahahahaha.. wouldn't have had imagined that having right around 7x entry level fuck you status would have had put you at bullwhale status... by the way, it could be the case that you ONLY have around 5x entry-level fuck you status if you might have had been selling a wee bit more cornz along the way without saying anything... .. yet either way.. it is not a bad place to be...and yeah, no need to confirm or deny, since we have a decently wide range of variables that affect how we might choose to deal with our coins.
Shouldn't I sell some portion again and hold some fiat so I can buy back when the market goes down?
I remember selling 0.5 BTC for €200 when I started in Bitcoin, thinking I'd buy it back cheaper later. I'm still waiting for that moment....
It will be less painful if you did this and still have some Bitcoin now, you won't feel it much but will just see it as part of the process. Those sells are not entirely mistakes because buying and selling is what Bitcoin should do and those transactions makes the network stronger.
However, it would have been terribly bad if you sold those Bitcoin and don't have anyone now. The regrets would have been intense and renewed anytime Bitcoin creates a new ATH
. There were times I also sold some of my Bitcoins for reasons I don't know but then it was part of the business and what is most important is never to run out of Bitcoin.
I think that it makes a pretty big difference if you are merely selling some bitcoin from time to time, and accounting for your having enough or more than enough so you are merely reallocating into other assets or just making sure that you are not overly weighted in bitcoin.
It seems that part of the problem that Loyce is highlighting is that his goal in selling the coins was to buy them back at a lower price, which frequently I consider that to be the wrong mindset for anyone who is still early in his bitcoin journey and still building up his bitcoin stash, so in those circumstances, his goal would be to continue to increase the bitcoin quantity.
One of the problems in our early years in bitcoin we might not be sure exactly what we are accumulating or even consider that bitcoin's value proposition is so great that if we are not in it at the right time or when it does a staircase step upwards, then we are in a worse position because we lost our focus on accumulating..
Another thing that selling does is that it puts us into a waiting mindset, and so we are waiting around for the BTC price to go down rather than ongoingly buying, so we end up with fewer coins both because we sold too much too early expecting to be able to buy them back, and also we compound our problem by failing/refusing to continue to buy because we have it in our head that the BTC price has to come back down sooner or later, yet there are times in bitcoin's history when it never comes back down again... so then by the time we figure out that the BTC price is not coming back down, it may well be 30% to 60% higher, and we are still having a dilemma about whether or not we should buy some more. A lot of guys go through such issue in bitcoin, so it is likely not even a matter of smart or dumb, but just getting caught up in our own attempts to figure things out, when we likely would be better off just buying at any price for a decently long period of time before we start to think about prices and the extent to which our holdings are in profits or not.
Don't get me wrong, there still could be ways to ongoingly, consistently, persistently, regularly and even aggressively buy bitcoin while at the same time playing around with trying to buy more on dips or having systems of holding a certain amount of the buy authorized for dips that may or may not end up happening.
$125k per BTC. Cool.
But I'm afraid. For now, it's better for me if the market goes down.
Frequently for newbies, it is way better to stop thinking about bitcoin as a trade but instead a lifetime investment, and so therefore just keep buying regularly for at least 4-10 years or longer... but hey, whatever. You do you.
But I'm afraid.
bitcoin can sense your fear.. NEVER let btc see your fear. it will crush you.
fear is the mind killer etcOngoing buying helps that, especially for newbies... yet figuring out the amount to buy might well be another story.. $100 per week? $10 per week? or some other amount that is reasonably within your budget and of course within your discretionary funds.
$125k per BTC. Cool.
Good to see you back. You were one of the most inspiring technical guy that I have silently been following. Sincerely, I was scared you will carry those knowledge and abandon the forum that is like home.
I was also scared for a moment that I'll abandon the forum, but it turns out you cannot abandon it. You can only take breaks. Thanks for the compliment, btw. Back to game.
But I'm afraid. For now, it's better for me if the market goes down.
Bitcoin has an addressable market cap of $300T, which means you're buying it with a 99% discount. You're already in a long dip. More buying, less fear.
Thanks for your attention in this matter.
I think that right now, as I type this post, bitcoin's addressable market is close to $1 quadrillion in today's dollars (that is about a 500x), and of course, by the time bitcoin gets to $1 quadrillion in its market cap, the addressable market may well become $10 quadrillion (in real terms, rather than today's dollars) based on the ongoing debasement of the dollar.
In regards to addressable market, I am partially referring to some of the work of Jesse Meyers
https://www.onceinaspecies.com/p/bitcoins-full-potential-valuation
Poll
