.
Sure, with you it is likely different from my own, yet I had considered all of my investments outside of bitcoin to have had been enough that I could have had used those in order to live off of them, so over the past 11-ish years, those outside of bitcoin investments have largely stayed the same, and maybe on their own they had appreciated in value to nearly double in value, while my bitcoin investment has performed in the 83x territories, if I were to use $1k per bitcoin as my average cost per bitcoin, since I may well be able to assert that mistakes were made and that is why I use $1k per BTC as a proximation of my average costs per BTC rather than using some other lower cost per BTC amount.
Mistakes are a valid part of our accumulation journey and we tend to learn a lot from them for those who are willing to learn from their mistakes and move on instead of dwelling in the regrets. Averaging at $1k per BTC shows you sold quite a good quantity which you got when it was below 1k and still continued buying to augument your portfolio for your unstructured sales even when the price surged well above 1k which is commendable and you've recorded good success and ROI of over 83x in your investment.
There can be a variety of reasons that cost per BTC can end up going up, and surely my giving a $1k per BTC ballpark estimate is a way to not necessarily get into those kinds of details, even though surely I have posted on the topic at various points in the past.
It's noteworthy that maturity on your investment takes quite some time and most times when you reach those maturity, you mentally setup more strict policies that guides you not to go back to your error periods which can be somewhat extreme, but necessary. Just like you trying to withdraw up to 10% yearly, but end up withdrawing only about 3% because of your possible innate desire to keep holding and not end up withdrawing to the extent that it wouldn't be termed sustainable.
I thought that I already explained that my selling BTC on the way up was a means towards providing downside insurance and also largely, attempts to maintain dollar value that would be growing way faster than the amount withdrawn. I had not considered my practice to be motivated by sustainable withdrawal ideas, even though I can appreciate that sustainable withdraw can also be related to the form of BTC portfolio maintenance that I was attempting to do... since selling on the way up did end up invoking my perception and practice of placing buy orders at various points on the way down, even though trading was not my main goal.
Of course, I have discussed
price-based sustainable withdrawal in my sustainable withdrawal thread, which I had attempted to present a variety of ways that selling on the way up might be placed in to formulas or even to include or not include buy back plans.
Personally, I must admit that I've made mistakes earlier which I regretted and had to learn from and move on stronger and with more discipline and commitment to my accumulation journey and long-term holding plan. I kind of felt a good sense of belonging reading through your story.
I am glad that you could relate to some of my descriptions, and surely each one of us is going to have our own difficulties, perils and even mistakes along the way, which frequently bitcoin has been quite forgiving to those who had been erroring on the side of buying and holding rather than those trying to trade... which always had been part of my motivation to not be selling too much bitcoin on the way up.
Surely my assessment about how to calculate my own situation differs now as compared to what my assessment was in mid-to-late 2015 when I first started putting my sell on the way up formulas into practice. Even though I tend to regret some of the mistakes, it can be difficult to know how to prevent the mistakes prior to their happening, and surely I don't consider any of my mistakes to have had been so great as to really throw me off of my tracks that largely had continued to emphasize accumulating bitcoin and holding it. It can be difficult to get into too many details, even though surely in threads like this, we are trying to mostly emphasize the accumulation journey rather than what we might do once we reached a status of sufficient or overaccumulation.
So many guys seem to misread my own stories in regards to considering that I had been trading BTC in order to accumulate bitcoin, which truly I do not consider that to be the case, and it seems to me that many times we can resolve quite a few of our bitcoin portfolio management dilemmas once we reach a status of overaccumulation. .and so it can be problematic when guys are prematurely assessing their own status to have gotten to overaccumulation when they had not. It can be so difficult to outline objective standards in regards to what might be considered overaccumulation status, and it could be that even I need to figure out some better ways of describing the reaching of such status.
In regards to your own situation, your forum registration is ONLY less than 6 months.. so I have trouble understanding how you might have had made your own mistakes, unless you got involved in bitcoin prior to that?
From my perspective, anyone who is new to bitcoin (less than a cycle) needs to get started accumulating bitcoin, so even if you might have had not started or you were fucking around trading or with shitcoins, surely getting a bitcoin plan together is likely a good course of action if you are able to identify the need for such plan and to start to execute such plan. It can surely take a cycle or two just to get to a place in which your BTC holdings is starting to seem like it is getting large enough. When I got into bitcoin in late 2013, I had already been investing in various assets for more than 20 years, so in that sense, I already had a head start in terms of both investing and having some capital to work with in order that I could front-run my bitcoin investment.. .which is part of the reason that I felt that I had reached a status of over accumulation by the time I was less than 2 years into bitcoin... many times it will take longer to reach such status of overaccumulation, even if a guy is being as aggressive as he feels that he is able to be in regards to his ongoing, persistent, consistent and regular buying of bitcoin.
Purchased some dip just now.
Hoping for prices to go to 73-79k.
Set for more dip soon.
I can see you are into DCA method, because for someone to buy BTC in this high price and he is still ready to buy BTC, show that the person have reserve money to continue buying BTC until bear run occur before he can increase the amount of BTC. I guess the price will still dump more before the end of this month because the red candle light spend long time in the market than the green candle light these days, which is the sign of bear run that is about to happen for people to start buying BTC and hodl.
The price has dropped again to $82k, I believe the price will drop more to reach $70k soon because many buyers have seen a lot of sign that will make them not to rush to buy BTC now until bear market come before they can increase the habit of buying.
Historically, we have seen many dips in bitcoin's price, and it is not always easy to know when the dips have ended or if there might be more dip prices.
We have also witnessed a lot of guys who are so busy preparing for down that they fial/refuse to sufficiently/adequately prepare for up.
Since you have been registered on the forum since late 2020, then surely it could be possible that you have already accumulated enough BTC... and hopefully newbies (anyone in their first whole cycle of BTC accumulation) are ongoingly accumulating BTC rather than waiting for price dips that may or may not end up happening.
And hopefully with any strategies that you have been employing, Zanab247, you have been able to at least obtain similar results as a strict DCA strategy, so in your case, if you had been buying
$100 per week of BTC by your forum registration date, you would have had invested about $23k into bitcoin and you would have had accumulated about 0.6551 BTC. That would not be a bad place to be, yet I would think that ongoing accumulation might still be desired to continue to carry out.
You are correct. Most of the crypto investors are waiting for Bitcoin to dip in price further before they invest in Bitcoin, not knowing that the price of Bitcoin has been fluctuating for some time now and maybe the dipping price Bitcoin can reach before it begins to skyrocket. The moment it starts doing that, I am sure it won't fall to the price it was before it mooned.
Firstly, we're talking about Bitcoin here and not crypto, by using the term crypto, do you mean those who invested into shitcoins and are looking forward to diversify into Bitcoin during some level of dips?
I guess any newbie or nocoiner in this group is starting of their accumulation journey on an erroneous note, it's important that newbies start accumulating Bitcoin immediately regardless of the market conditions when they get into Bitcoin. Some level of seriousness is needed in the investment engagement of a newbie, and in Bitcoin, that seriousness is to start off immediately purchasing Bitcoin with an accumulation target in mind as long as there's presence of discretionary income, while making plans to build up backup funds alongside his Bitcoin accumulation.
Those that are even qualified to wait for food are the guys who've reached a decent size portfolio in Bitcoin and who have reached probably 70% of their accumulation target and still has more cycles to hold, they can choose to keep stockpiling their DCA buying amounts targeting a dip so they can lump sum and buy more quantities to keep getting much closer to their accumulation target. But they have to decide the most beneficial strategy between waiting explicitly for the dip against consistent purchases while setting aside some percentage of their buying amounts to wait for dips.
, You are right that in this thread we are all talking about investing in Bitcoin. But I think
@joymarsha mentioned all investors by crypto investors. Bitcoin is a cryptocurrency. So Bitcoin investors and crypto investors mean investors.
I don't think anyone gets confused by just saying one word. Because, everyone new or old knows that Bitcoin is a cryptocurrency. So we should focus not on words but on Bitcoin investment system. We have to remember that Bitcoin is the most volatile market among cryptocurrencies, it is a long-term and reliable place to invest. So we should invest our money in safe places, such as Bitcoin.
Well on this thread, we try as much as we can to be specific with terms so as to achieve precision and efficiency in our discussions. Crypto is widely associated with lots of shitcoins, altcoins and of course Bitcoin, we want to try our very best to limit how much misinterpretation newbies or those not so familiar with Bitcoin would have thinking we're talking about all other shitcoins that make up the crypto space rather than Bitcoin.
So we are very particular with the use of terms and it's only right that we get very precise with words and that's using Bitcoin in this thread instead of crypto.
Yep. Here we are talking about bitcoin, not shitcoins.
When the term crypto or cryptocurrencies is used, it is vague, ambiguous and potentially misleading, since the reader might not know what the fuck you are talking about, unless you define what you are talking about.
Frequently, there is no need to use the term crypto if you are referring to bitcoin, since you could just say bitcoin, yet if there might be instances in which you want to mention crypto or something other than bitcoin, then if you are making your context clear then your use of the term crypto or cryptocurrency might not be misunderstood or misleading.
There are a lot of folks who purposefully use the term crypto in order to try to suggest that all cryptos are the same, and to even send subliminal and/or even misleading messages that various shitcoins are similar or even better than bitcoin, so the use of the term of crypto can frequently be an attack on meaningful discussion or to be able to recognize and appreciate that bitcoin is different from shitcoins, and we should be trying to learn what is bitcoin before we try to act like they are all the same (or similar or variations of one another).
I get the sense that since Mehmet69 is arguing that bitcoin is just another crypto, and he is proclaiming that bitcoin merely fits into the same category, then he likely does not either know what bitcoin is or realize how bitcoin is distinguished from the various shitcoins that are largely engaging in copy cat affinity scams while using bitcoin as their security backdrop since none of them would be able to survive without bitcoin.
Of course, many of us have no problem with the existence of various shitcoins, and surely we would not propose that it would be reasonable for them to disappear.. and even though a lot of folks are scammed and distracted away from bitcoin based on various shitcoins, it is not very likely that shitcoins are going to be going away any time soon, whether they are various historical shitcoins that have been around for several years, or meme coins or stable coins.. or various projects related to such shitcoins. We do not necessarily need to talk about that crap in this thread, even though we may well realize that such crap exists and there can be various ways that any of us could get overly distracted or lured into shitcoins.. so hopefully we can figure out ways to limit our exposure to such shitcoins to the extent that there might be any relevant current happenings going on with them from time to time..
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After investing, we usually always expect that the market will only go up after our investment, but those who invest in the DCA investment method are actually often waiting for an opportunity when they can buy bitcoins with a large amount of money.
You are making up shit, bitcoin_mining? The mere fact that some folks buy on dips does not mean that they need to buy on dips or that it is a common practice or a preferred practice, as you seem to be suggesting.
Yes, you can DCA buy into bitcoin and you can supplement with buying on the dip, but it does not mean that structuring your budget to buy on the dip is a good practice, especially when you are seeming to refer to holding back large amounts to buy on dips that may or may not end up happening.
There are some investors who take the negative aspects of the market well because they can invest several times the amount they invested at high prices when the market goes down.
Sure, buying on the dip gets you more BTC than the same amount of money would have had gotten you prior to the dip, yet it does not necessarily mean that buying the dip is a good practice or a better practice than DCA, even though you seem to be wanting to suggest that it is better.
Sure, maybe Innocant is in a place to buy on the dips, since he has been registered on the forum since 2016 (for 9 years), yet you, bitcoin_mining, have only been registered for about a year and a half. It is not clear that you would be in a good place to be fucking around with dips rather than just buying BTC consistently, persistently, ongoingly and regularly... rather than fucking around with dips that may or may not end up happening.
That is, I am clearing this matter here, suppose an investor invests 100 dollars every week and the market did not change much in those few weeks that he invested consistently but after a few days the market dumped a lot and at that time that investor bought more bitcoins with more money during the market low but he will have a good chance of more profit in the future.
If he has a budget of $100 per week to buy bitcoin, then where is he going to get the extra money? Are you trying to suggest that he actualy has more than $100 per week, but he has been holding back some money in order to buy the dip? Do you believe that he is advantaged by the practice of holding back some of his value, or are you suggesting that there are not any trade offs for the guy who is holding back value to be buying on dips that may or may not end up happening.
We need to invest consistently rather than waiting for an opportunity and keep some money aside so that when the opportunity arises we can put that money to good use.
I have no problem with buying dips or even holding back some money to buy dips, yet I would not be presuming that there is going to be extra value from doing that.
I personally like the idea of holding back any lump sum investment amounts for buying on the dip. So let's say for example a guy who earns $30k per year had been investing $100 per week into bitcoin for two years, and so such person has invested around $10k into bitcoin, yet all of a sudden such person receives a bonus check (or wins the lottery, or receives inheritance or something) and he gets more than $5k - which is very similar to 1 year of his DCA amount. He can choose to 1) lump sum, 2) DCA and/or 3) buy on dips with the amount. The answer is not obvious what to do, yet I am not opposed to the idea of holding some back for buying on dips with the realization that dips may or may not end up happening.
