Is it allowed for users to share their opinions on my purchase plan?

[mlin]

Hey, I'm a pretty active reader of this forum. A little about me. I had a bunch of BTC in 2015, sold it for a couple thousand like an idiot, ended up with nothing. During the 2017 run up, I purchased some ETH, profited 20k, sold all of it in one go before the drop. Then purchased 1 BTC at 6.8k, still holding till now.

Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

What do you guys think?

I realize that a lot of this information I'm presenting, and a lot of what I'm asking for can be researched on the forum. I think it's a combination of me wanting opinions on my specific situation, and slight nervousness that is causing me to type all this out.

Thanks in advance.

[pooya87]

$50k seems a bit much specially since you are claiming that it would hurt if you lose it so maybe it is best if you invest a smaller amount that you can afford to lose. also make sure that you truly know how to store bitcoin properly so that you don't end up losing what you bought to silly things like getting hacked, losing password of the encrypted wallet,... in short learn more about cold storage.

your purchase plan seems good to me. split it into multiple orders and try placing them at prices which you think can happen and the order size can depend on the chance of it happening. for example if you think some price has a higher chance of being reached then place a higher amount buy order there and if the chance is lower then place lower amount.

in the end it comes down to your own speculation about long term potential of bitcoin if this is an investment not a day-trade option. if you think bitcoin can rise in long term then invest away...

[mlin]

Thanks for the response. I actually have a ledger nano s that I purchased a while back for my ETH so it should be sufficient, I think.

Despite 50k being a lot for me, I do feel like BTC does have a good future. Which is why I'm having mixed emotions about the investment. I'm kind of thinking in my head, "I feel like I'll definitely profit, but what if!?"

[Potato Chips]

Despite 50k being a lot for me, I do feel like BTC does have a good future. Which is why I'm having mixed emotions about the investment. I'm kind of thinking in my head, "I feel like I'll definitely profit, but what if!?"

You should have some kind of risk assessment and consider not just one possibility. Make sure that your life won't crumble into pieces no matter what the outcome may be. The market is uncertain so I agree with pooya, invest only what you can afford to lose.

[exstasie]

Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

If this is a sizable investment for you, you might consider scaling in over a longer period of time. There is a definite possibility that 2019 is a sideways or bearish year. Ultimately, I think the price could still be cut in half from here in the coming months, but it's also possible we're near a historical bottom. I agree with your overall outlook but I'm unsure about the timing.

Thanks for the response. I actually have a ledger nano s that I purchased a while back for my ETH so it should be sufficient, I think.

I would spread funds across different wallets. It's never good to keep all your eggs in one basket, so to speak. Ledgers are pretty solid, but there's a considerable attack surface and I wouldn't consider them quite as secure as cold storage.

[davis196]

The "What if?" question will follow you in your nightmares forever.
Nobody (including you) can be 100% sure what will happen to bitcoin in the future(and what will happen with your investment).You just have to decide wether or not to take the risk.
For me,crypto trading is 33% having a good trading strategy,33% decent market analysis and 34% luck or destiny(a couple of external factors that you can't control).

[o_e_l_e_o]

Despite 50k being a lot for me, I do feel like BTC does have a good future. Which is why I'm having mixed emotions about the investment. I'm kind of thinking in my head, "I feel like I'll definitely profit, but what if!?"

Your post and strategy seem sensible, but this one sentence is a big red flag.

There is no absolutely no "definite" about it. You might profit, you might not. You could very well lose close to everything. If it were me, I would certainly aiming for a more balanced portfolio of risk by splitting this 50k investment across different asset classes. Fiat savings, bonds and stocks are the obvious ones, but others might recommend gold, property, etc.

I would also probably be waiting until we get a clearer indication of which way the market is going to move before I placed my first buy order. We could quite easily drop lower before the next bull run.

[dothebeats]

If you're having doubts, then don't do it all at once. Studying is not a few hours commitment; if you want to really digest what's happening in the market, I think few hours isn't enough to get all the knowledge you needed before investing. $50k is a lot of money in my books, and I could easily create a business that will run for years had I chosen to not invest it on crypto. There are always risks on every form of investment available to Man, and you need to decide whole-heartedly if that risks are worth to take for the potential reward.

Seeing bitcoin as 'too big to fail' is also wrong, and you really need to evaluate your plan since you might get it wrong and you might kick yourself once bad things happen. I'm not a crypto hater nor a non-believer, I'm just stating that anything can happen for bitcoin and crypto investments in general.

[figmentofmyass]

Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

what are your technical reasons for entering now? just based on the idea that the market has fallen far enough, and this is probably a good entry in the long run?

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

what do you mean by lose? do you mean cutting your losses and leaving the market, or holding a declining portfolio? if you're hesitant to hold through a bear market, you might consider waiting for a bull market to appear.

i'm a long term bull too, but i'll concede this market could still fall a lot from here.

[andohyeb]

It is good to have a lot options when purchasing crytpocurrency but never forget to ensure proper risk reward management is put in place to curtail any unforseen event.

[Febo]

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

That is why make sure to store them safely.  You said you already had BTC and ETH. So you are probably familiar a bit. But if you are not and you just left them on exchange or on your computer vulnerable to some malware I suggest you to do your homework first and learn more about security.  You should have most of 2019 to buy coins at low price. So no need to hurry.

[el kaka22]

I had a bunch of BTC in 2015, sold it for a couple thousand like an idiot, ended up with nothing. During the 2017 run up, I purchased some ETH, profited 20k, sold all of it in one go before the drop. Then purchased 1 BTC at 6.8k, still holding till now.

Not just you, more than 50% this community is doing exactly what you have done. Fortunately, you managed to see some profits with both bitcoin and ethereum but many people were not able to do that. It is due to the basic understanding of the common man who is not having any big awareness about the futures of cryptos.

I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

Your research had helped you to find the real fact, yes cryptos are going to stay with us for ever or at least for the next two or three centuries so you never need to worry about what you have invested. All you must need as of right now, just being more patience and simply watching the ups and downs of bitcoin markets. There will be plenty of chances to recover your capital by the year of 2019 and in 2020 you may get x5 to x10 returns also. So, be confident by believing into the futures of BTC.

[Bitcoinwaist]

Hey, I'm a pretty active reader of this forum. A little about me. I had a bunch of BTC in 2015, sold it for a couple thousand like an idiot, ended up with nothing. During the 2017 run up, I purchased some ETH, profited 20k, sold all of it in one go before the drop. Then purchased 1 BTC at 6.8k, still holding till now.

Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

What do you guys think?

I realize that a lot of this information I'm presenting, and a lot of what I'm asking for can be researched on the forum. I think it's a combination of me wanting opinions on my specific situation, and slight nervousness that is causing me to type all this out.

Thanks in advance.

i think you may be forcing the issue buying every couple weeks. bitcoin is either dumping or pumping, there really isnt a middle ground and  the sentiment right now is very bearish and it has been dumping. so if you can handle your investment being possibly cut in half its up to you. if we stay in the $3k area and people get comfortable chances are the price is going to dump more as the whales will lock in another slew of bagholders. what I would do is buy at every $500 drop in price. So buy at $3.3k, $2.8k, $2.3K, $1.8k and $1.3k if you planned on buying 5x. I would back load you dollar amounts so your biggest purchase would be at $1.3k.

if it was me I would hold on to my fiat until the uptrend is confirmed in the future.. yes you will be leaving profits on the table but you will be in control and not at the mercy of the bear market. gl

[sorrysteve1]

You said yourself that losing it all or a lot of it would hurt, so you should probably consider investing less. Perhaps also consider diversifying a little bit and buying a few alts as well. Finally, I wouldn't rush to buy every week, maybe buy your first lot, wait a week and then see how the market is, it might be worthwhile waiting longer between buys.

[BitHodler]

if it was me I would hold on to my fiat until the uptrend is confirmed in the future.. yes you will be leaving profits on the table but you will be in control and not at the mercy of the bear market. gl

What do you consider to be a confirmed uptrend? I'm not sure if there is any confirmation to grip on to be honest. Even if the price jumps over $5000 or nearing the $6000 mark it can just as easily fall back down and hit lower lows.

It could very well be that there is a lot more hidden selling pressure in form of altcoin whales having sold to BTC and are now waiting for a good time to dump. Altcoins are still quite expensive currently and could fall way more in my opinion...

It's pretty annoying that we have to go through this, but well, that's how this market apparently works and we have to accept it. People enjoyed the good side of the market last year and are being presented with the consequences of that this year.

[Lucius]

1.During the 2017 run up, I purchased some ETH, profited 20k, sold all of it in one go before the drop. Then purchased 1 BTC at 6.8k, still holding till now.

2.Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. 

3.After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

4.My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

1.So you have profited 20k $ by selling some ETH and buy 1BTC for 6.8k$ - which means you left some 13k$.

2.Now you have a plan to spend 50k$ by investing in BTC, which means you have decided to invest extra 37k$ in cryptocurrency.

3.If Google is your main adviser, you should stop everything you do and save you money. Probably you read a 90% of predictions/speculations that have no solid foothold, and based on that you think 2019 will be good year for BTC?

4.The golden rule of investing : Never invest what you are not ready to lose.. If you risk money you may need in any time of your life then you make stupid move and and I advise you to think well. In case you have extra 50k $ which you do not need in life, you can invest in BTC, but be fully aware of all possible risks - your money, your game

[harizen]

The moment your risked a big money, I will assume you already know the circumstances, and that include chances of losing.

It's just that you are confused. But why just now? Why not prior? Since you already in the game and face the risks for quiet long period now, you should have at least an understanding what you really gonna do.

What if loss? There is no loss overnight. Not a friendly advice but I will continue the original plan. You are optimistic and you have reasons for that. For less pressure, take your current investment as loss now (obviously not a literal loss) and trust the process on the way.

No one can dictate what you gonna do. I believed you can make your own stand on what will you do. Goodluck.

[thecodebear]

Hey, I'm a pretty active reader of this forum. A little about me. I had a bunch of BTC in 2015, sold it for a couple thousand like an idiot, ended up with nothing. During the 2017 run up, I purchased some ETH, profited 20k, sold all of it in one go before the drop. Then purchased 1 BTC at 6.8k, still holding till now.

Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

What do you guys think?

I realize that a lot of this information I'm presenting, and a lot of what I'm asking for can be researched on the forum. I think it's a combination of me wanting opinions on my specific situation, and slight nervousness that is causing me to type all this out.

Thanks in advance.

Wow, your story seems oddly similar to mine - bought a bunch of BTC late 2013/2014/early 2015, sold it all at the bottom in 2015 for a couple thousand, though then i bought a bunch of bitcoin and some ethereum last year, didn't sell any at the top and managed to lose a bunch trading during the crash haha. Though I just started buying more the past few weeks once it went under $4k. And coincidentally I also plan on buying $50k worth of Bitcoin (picked up $7k so far), though I'll do it over the next few months.

Honestly buying Bitcoin right now or in the next few months is the absolute best investment you could make now. I have zero reservations about throwing $50k into Bitcoin over the next few months (and $50k is an absurd amount of money for me, outside of my crypto portfolio at the end of last year and the first half of this year I've never had $50k in my life before - I'll only have it now cuz the company I work for is about to sell so I'll make some decent money). Still, zero reservations. I'm hoping to pick up more than 12 or 13 more Bitcoin with that money and plan to sell it at $70k which I figure will EASILY happen on the next boom in a few years.

Of course if you would stress about putting that much money in you could always only put say half of it in now and wait till maybe mid next year or whenever a solid new bull market has begun to put the other half in, you'd just get a lot less for your money then, but if you view Bitcoin as risky (I don't) then that would put your mind at ease and you'd still make a ton of money if you wait until the price is booming again in say the high 5 digits.

[o_e_l_e_o]

I have zero reservations about throwing $50k into Bitcoin over the next few months (and $50k is an absurd amount of money for me, outside of my crypto portfolio at the end of last year and the first half of this year I've never had $50k in my life before - I'll only have it now cuz the company I work for is about to sell so I'll make some decent money). Still, zero reservations.

You should definitely have reservations. You should have some reservations investing money in anything, even "safe" asset classes like government bonds, and you should definitely have some investing in something as risky as bitcoin.

Look, I'm probably as long-term bullish as you are, but nothing in crypto is guaranteed and nothing is risk free. You've said yourself that $50k is an "absurd" amount of money for you. No one should be investing what they consider to be an "absurd" amount of money in any one thing, except maybe if you are buying a house to live in. Spread that 50k over some combination of fiat savings, bonds, stocks, gold, etc, as well as crypto.

but if you view Bitcoin as risky (I don't)

You should. Everyone should. By its very nature, bitcoin is risky.

[mlin]

If you're having doubts, then don't do it all at once. Studying is not a few hours commitment; if you want to really digest what's happening in the market, I think few hours isn't enough to get all the knowledge you needed before investing. $50k is a lot of money in my books, and I could easily create a business that will run for years had I chosen to not invest it on crypto. There are always risks on every form of investment available to Man, and you need to decide whole-heartedly if that risks are worth to take for the potential reward.

Seeing bitcoin as 'too big to fail' is also wrong, and you really need to evaluate your plan since you might get it wrong and you might kick yourself once bad things happen. I'm not a crypto hater nor a non-believer, I'm just stating that anything can happen for bitcoin and crypto investments in general.

Well, I've spent quite some time over the course of the entire time I've been involved with crypto. Just recently, I've been focusing a lot more on 2019 and 2020. Although it would be incorrect to say BTC is too big to fail, I do feel this is currently a strong possibility for at least the next few years. Individuals and organizations have hundreds of millions involved in the currency, and I just can't see them allowing themselves to either lose money, or take advantage of the market.