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.

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.

Glad there are many others who share the same view on this technology for the coming future. Hopefully over the course of the next few months, you'll be able to get your purchases in at the price you want. Good luck!

[timerland]

Looks good. Honestly, prices are pretty low right now and the general consensus is that we're close to the floor.

Your strategy seems a lot like dollar cost averaging, whereby you buy a predetermined amount of BTC each period regardless of what the price is. In my opinion, this is quite a good strategy for accumulating coins for the long run especially in a bear market, as you are essentially accepting that it is pretty much impossible to predict what the lowest of lows are going to be, but rather, focus on averaging out the entry points of your long positions so that they are most profitable in the long run.

As for the coins that you purchased for $6k+, I would not worry about it. Again, by buying now, you are able to lower your average entry point. And if you believe in bitcoin in the long run, whether in terms of institutional investors, or adoption over time, as I do, then breaking $6k again is only a matter of time given the potential demand in the future.

[mlin]

Looks good. Honestly, prices are pretty low right now and the general consensus is that we're close to the floor.

Your strategy seems a lot like dollar cost averaging, whereby you buy a predetermined amount of BTC each period regardless of what the price is. In my opinion, this is quite a good strategy for accumulating coins for the long run especially in a bear market, as you are essentially accepting that it is pretty much impossible to predict what the lowest of lows are going to be, but rather, focus on averaging out the entry points of your long positions so that they are most profitable in the long run.

As for the coins that you purchased for $6k+, I would not worry about it. Again, by buying now, you are able to lower your average entry point. And if you believe in bitcoin in the long run, whether in terms of institutional investors, or adoption over time, as I do, then breaking $6k again is only a matter of time given the potential demand in the future.

Thanks for your input. I'm actually not quite worried about the 1 BTC I purchased months ago, I just wanted to keep some skin in the game after I cashed out of ETH. How are your holdings doing?

[cluit]

If you have 50 thousand dollars to gamble away in a bitcoin bet, why not divide it more ? I mean instead of 10 thousand dollars for each entry, how about you do something like 5% each entry for 20 times. That way you can either use it weekly or even monthly and you can put money in it for a long period of time. That would mean you will take less risks for a potential decrease in the price but you are giving up potential price uptick as well.

If you really believe bitcoin will go up soon than you can put your money weekly for 20 weeks and that way you will be all invested this summer. Or, if you think it will take longer you can invest monthly and you will be all invested in 2020 at the earliest. I think putting it all in 5 times is not a smart move, I would suggest at least 10 and better yet 20 for that.

[mlin]

If you have 50 thousand dollars to gamble away in a bitcoin bet, why not divide it more ? I mean instead of 10 thousand dollars for each entry, how about you do something like 5% each entry for 20 times. That way you can either use it weekly or even monthly and you can put money in it for a long period of time. That would mean you will take less risks for a potential decrease in the price but you are giving up potential price uptick as well.

If you really believe bitcoin will go up soon than you can put your money weekly for 20 weeks and that way you will be all invested this summer. Or, if you think it will take longer you can invest monthly and you will be all invested in 2020 at the earliest. I think putting it all in 5 times is not a smart move, I would suggest at least 10 and better yet 20 for that.

Thanks for your advice, but I feel we are near the bottom, so I have actually made several large buys already. I agree averaging out like you said would lower my risk, but I just don't feel averaging out over 20 weeks at this moment will maximize my long term profits.

[JMD07]

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 know you have been here in this technology for a quite long time which I consider that you have knowledge in this technology as we know that investing in this technology is high risk. Since you have done your research I pretty sure that at this time you will guarantee to become rich by next year but put in your mind that everything you read thru google is just speculation. It's not a guarantee that the price for 2019 will become bullish.  

[mlin]

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 know you have been here in this technology for a quite long time which I consider that you have knowledge in this technology as we know that investing in this technology is high risk. Since you have done your research I pretty sure that at this time you will guarantee to become rich by next year but put in your mind that everything you read thru google is just speculation. It's not a guarantee that the price for 2019 will become bullish.  

Everything I see on Google is actually the opposite of speculation. They are facts, plans, and an increase in worldwide adoption. Currently, I'm already up several thousand due to this small pump, but obviously, this does not not mean anything to me since it's just short term gains. I too am hoping for a good year for crypto this next year.

[mlin]

Thanks everyone for your comments, it's been a thrill watching my portfolio grow over the past few months. I ended up averaging in to BTC at $3500 for a little over 50k. It seems having the guts to act rather than simply speculating and commenting has paid off for now. I wish everyone profits in the coming months and years.

[o_e_l_e_o]

Thanks everyone for your comments, it's been a thrill watching my portfolio grow over the past few months. I ended up averaging in to BTC at $3500 for a little over 50k. It seems having the guts to act rather than simply speculating and commenting has paid off for now. I wish everyone profits in the coming months and years.

I'm pleased for you. If you bought in around $3500 as you say, you'll should now be sitting on over $100,000 of profit.

You said back in your original post that you were originally involved in BTC back in 2015, so you are well aware the market can drop even more quickly than we saw it go up in the last few weeks. You also said that $50k was a huge amount of money for you. With that in mind, my advice would be to withdraw your initial investment. You are still left with over $100k in bitcoin going forward, but you also have the piece of mind if it does drop significantly or even to zero, that you the worst off you will be is back where you started.