What is your accumulation strategy ?

[Nosk]

Hello bitcoinland,

My personnal case is the following :
I mined really few bitcoins back in 2013 when it was possible to do it with a classical GPU.
Then I martingaled it until 1200% benefit (I crapped myself a few times).
I stopped martin galing when btc reached 800€ because I wasn't really confortable gambling that kind of money.
So I hodled since.

The consequence of all that is I never accumulated via trading.

So now I'm kind of stuck with a fairly decent amount, for someone who never really put money into it.

I've tried to trade but, despite a few good calls, I'm quite awful at it.

Eventhough I totally get the very simple (or simplist) "Sell high buy low" paradigm, I find it really subjective to designate what is high and what is low (what time frame ? what % ? etc etc...).
I figured out that when there is any spike in the price (like the 2 high spikes in december, the recent low spike ...) there will be almost systematically a correction in its close future, but that's all I can really afirm with a decent amount of confidence.
Thus, if I rely only on that, I do nothing 95% of the time and my btc stash doesn't grow (what it did is lose some % because as I said, I'm not a very good trader).

That's why I would be glad if some of you experienced btc traders (even crypto traders in general) shared your accumulation strategy with some good-willed noob of this forum, such as myself .

Thanks

[1715188199]

1715188199

[1715188199]

1715188199

[EthanB]

I used to do a lot of trading with Forex, Binary options and things like that so I have quite a few years of experience trading on those platforms. Bitcoin adds a lot of volatility into the mixture and regular trading strategies do not perform with Bitcoin as they traditionally do.

Gambling has never been a good accumulation strategy, but you mentioned that you used to do GPU mining when it was more feasible. I would probably suggest investing whatever bitcoin you have into GPU rigs and head over to a site that automatically picks the best coins and algorithms to mine with and automatically converts this into Bitcoin for you. This would enable you to use your already mined and stashed bitcoins to continue mining and stashing bitcoins for you. Everything else has too high of a risk factor, day-trading may go wrong with a few bad trades, gambling is too risky and opening your own business has it's own problems.

So after all the years of trading experience, my best suggestion for something more reliable would be get back into mining. GPU mining is still feasible, just not for bitcoin, but you can get it automatically exchanged into bitcoin so it is the same outcome.

[alyssa85]

You can lend out your coins on Poloniex. The rates arn't that great - but you do slowly increase your stash over time.

(P.S. Other exchanges like Bitfinex also offer lending, but I'd steer clear of them as they seem to be under Federal investigation over the tether business).

[Nosk]

I used to do a lot of trading with Forex, Binary options and things like that so I have quite a few years of experience trading on those platforms. Bitcoin adds a lot of volatility into the mixture and regular trading strategies do not perform with Bitcoin as they traditionally do.

Gambling has never been a good accumulation strategy, but you mentioned that you used to do GPU mining when it was more feasible. I would probably suggest investing whatever bitcoin you have into GPU rigs and head over to a site that automatically picks the best coins and algorithms to mine with and automatically converts this into Bitcoin for you. This would enable you to use your already mined and stashed bitcoins to continue mining and stashing bitcoins for you. Everything else has too high of a risk factor, day-trading may go wrong with a few bad trades, gambling is too risky and opening your own business has it's own problems.

So after all the years of trading experience, my best suggestion for something more reliable would be get back into mining. GPU mining is still feasible, just not for bitcoin, but you can get it automatically exchanged into bitcoin so it is the same outcome.

Hello, thanks for your response. Have you a reliable website doing what you suggest ? Thank you again.

You can lend out your coins on Poloniex. The rates arn't that great - but you do slowly increase your stash over time.

(P.S. Other exchanges like Bitfinex also offer lending, but I'd steer clear of them as they seem to be under Federal investigation over the tether business).

Thanks for your response. I have checked the rates on poloniex and the majority is indeed ultra low. It seems that some demands are sometimes not that bad so I will try it out.
Hope it is not too scamy.