My Past nine months bitcoin journey

[Dripstoil]

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

How long do you plan to go before stopping to take profits?

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

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[aysg76]

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

You can take any coin of your choice but if you seek my advice then don't for some altcoins if you can have bitcoin instead of them with the amount you are willing to put in them.For example you plan to do $60-$80 ETH investment then could you survive the gas at this time? So consider investing in bitcoin which is this thread all about but at last the decision is yours.

How long do you plan to go before stopping to take profits?

Not stopping for long time as i have not planned such things as main goal is to make investment at this age and try to save more and more to invest the same in bitcoin.

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

You can read the thread throughly as it's not a long one and come to know my investment plans and can take an idea how much bitcoins i managed to accumulate with my investments going on.There are lot of options available but you should always choose the right one because all that shine is not a star if you understand me.

[aysg76]

Author, how are you doing now?

I am still doing the same work that i have mentioned in this thread and continuing my investment strategy with putting weekly funds into bitcoin and now prices are also someway low so getting some extra sats for the same.

Do you have any achievements at work?

What type of achievements you are referring to? If you are saying about how much btc i have accumulated then you could find it in the @OP for all the details are mentioned over there but if you are talking about some others then please clarify.

How are the results in general?

I will publish all the profit generated in single report after 6 months time period to have an accurate idea about the profits that i have made over these time periods.Will surely share all such report with you all to make you realize the importance of Bitcoin investment through DCA strategy and why many prefer it over one time investment.But still you can say i am in profits at this time because at one time i bought them for $30k also and now they are $60k so have an idea until then.

[aysg76]

The Bitcoin candles are green once again and the investment or say my portfolio value has been growing continuously with just holding bitcoin.That is the power of holding.

Many claims that it's hard but in actual holding bitcoin is the most easy task but holding them for long term and in secured way is hard one so make the difference and Bitcoin is not going to wait for you.Make some early moves.

[JayJuanGee]

The Bitcoin candles are green once again and the investment or say my portfolio value has been growing continuously with just holding bitcoin.That is the power of holding.

Many claims that it's hard but in actual holding bitcoin is the most easy task but holding them for long term and in secured way is hard one so make the difference and Bitcoin is not going to wait for you.Make some early moves.

Holding is hard on the way up and on the way down, and seems to me that the harder part for many comes after they feel that they have sunk a decent amount of value into their investment and then the BTC price dips way below their costs and maybe even stays there for a couple of years.  I had very long periods of nearly 3 years that some of my BTC were below the cost of purchase, and I even had periods in which my overall investment was only worth about 30% of the value that I had put into it... so those kinds of periods can be even more difficult - and they likely would be worse for someone who may have overinvested or even taken out debt. 

The amounts that you depicted so far in this thread do not necessarily seem to be high enough to even cause as much concern.. but surely also a lot of these kinds of considerations are relative too, in terms of other investments that you might have or even if you have all of your investments tied up in bitcoin, which might cause nervousness too.. and maybe even more nervousness the longer that you are invested and the more that you start to feel loss of value with the BTC price going down. 

Of course you have a right to your own perspective.. and I suppose that there can be some euphoria being in profits, too.  There do seem to be more options when you are in profits, even if it may well cost more (relatively) to acquire more bitcoin (less bang for the buck when the BTC price is higher).

[virasog]

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

How long do you plan to go before stopping to take profits?

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

The first thing which you should do is to set the target for each coin that you bought. You can think of taking profit at 2x or 3x depending upon the coin marketcap and other factors.
There is no hard and fast rule that if you invest for an year or two, you can achieve your target. The target price for your investment can be reached much sooner than your thoughts.

[Minecache]

-snip
Holding is hard on the way up and on the way down, and seems to me that the harder part for many comes after they feel that they have sunk a decent amount of value into their investment and then the BTC price dips way below their costs and maybe even stays there for a couple of years.  I had very long periods of nearly 3 years that some of my BTC were below the cost of purchase, and I even had periods in which my overall investment was only worth about 30% of the value that I had put into it... so those kinds of periods can be even more difficult - and they likely would be worse for someone who may have overinvested or even taken out debt.  

You have been able to hold for more than 3 years and now you are able to make huge profits. This is actually a psychological challenge. When the portfolio is declining in a bearish condition, there tough to keep holding mentality at that time, and Investors fall into serious psychological challenges.
In most cases newcomers face such problems, the experienced ones do not care about such types of regular pumps and dumps.

[aysg76]

 

Holding is hard on the way up and on the way down, and seems to me that the harder part for many comes after they feel that they have sunk a decent amount of value into their investment and then the BTC price dips way below their costs and maybe even stays there for a couple of years.  I had very long periods of nearly 3 years that some of my BTC were below the cost of purchase, and I even had periods in which my overall investment was only worth about 30% of the value that I had put into it... so those kinds of periods can be even more difficult - and they likely would be worse for someone who may have overinvested or even taken out debt. 

The amounts that you depicted so far in this thread do not necessarily seem to be high enough to even cause as much concern.. but surely also a lot of these kinds of considerations are relative too, in terms of other investments that you might have or even if you have all of your investments tied up in bitcoin, which might cause nervousness too.. and maybe even more nervousness the longer that you are invested and the more that you start to feel loss of value with the BTC price going down. 

Of course you have a right to your own perspective.. and I suppose that there can be some euphoria being in profits, too.  There do seem to be more options when you are in profits, even if it may well cost more (relatively) to acquire more bitcoin (less bang for the buck when the BTC price is higher).

Many times we come across such periods where we found our boat sinking to the bottom levels or in other words our portfolio is witnessing reverse growth and our investment is decreasing day by day like you said in your case and we might find it difficult to survive but the best option is to leave the funds safe like if you have bitcoin and completely forget about them for some time and have patience.If you have sold about 3 years ago then would you have been able to enjoy the new ATH at this time period? So we all know this is highly risky market and funds could be lost but trust me btc will not let you down so easily.

Although i don't have big proportions allocated towards bitcoin similar to many of the big investors who managed to get them at early or have deep pockets to back them up at high prices also but i am not no-coiner also and have reached good amount at this time and will continue to have them without any hastle.I am not into trading which could be hectic and mind consuming but just want to hold for long periods and believe me it's not hard once you make up your mind and no major crashes affect you.I have seen 70-80% downfall in bitcoin prices but still we have seen it reaching $68k today so that's the motivation for me.

You have been able to hold for more than 3 years and now you are able to make huge profits. This is actually a psychological challenge. When the portfolio is declining in a bearish condition, there tough to keep holding mentality at that time, and Investors fall into serious psychological challenges.
In most cases newcomers face such problems, the experienced ones do not care about such types of regular pumps and dumps.

It's all the mental game and if you could survive that easily or in pressure you will sit on profits but keep in mind it will work only for bitcoin as per me not the shitcoins that are rising for a temporary period in market.Suppose you are holding some meme coins with psychological thinking that it will grow and have faith in it but it's completely delusional faith and nothing is going to improve and it's better to sell them ASAP.So make the difference and set your goals as i have made for bitcoin.

[xSkylarx]

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

How long do you plan to go before stopping to take profits?

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

The first thing which you should do is to set the target for each coin that you bought. You can think of taking profit at 2x or 3x depending upon the coin marketcap and other factors.
There is no hard and fast rule that if you invest for an year or two, you can achieve your target. The target price for your investment can be reached much sooner than your thoughts.

I believe we should also plan for the possibility of losing money and knowing when to stop because it is not always profitable. If there was a dump , we should be prepared. Same as target profit, you should also choose your stop loss, which should be equal to the amount of money you can afford to lose in the event of a dump, just to be prepared and ensure that you will survive. However, you are correct in that making a profit may occur sooner rather than later due to the fact that cryptocurrency is extremely volatile and, in some cases, extremely fast.

[aysg76]

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

How long do you plan to go before stopping to take profits?

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

The first thing which you should do is to set the target for each coin that you bought. You can think of taking profit at 2x or 3x depending upon the coin marketcap and other factors.
There is no hard and fast rule that if you invest for an year or two, you can achieve your target. The target price for your investment can be reached much sooner than your thoughts.

I believe we should also plan for the possibility of losing money and knowing when to stop because it is not always profitable. If there was a dump , we should be prepared. Same as target profit, you should also choose your stop loss, which should be equal to the amount of money you can afford to lose in the event of a dump, just to be prepared and ensure that you will survive. However, you are correct in that making a profit may occur sooner rather than later due to the fact that cryptocurrency is extremely volatile and, in some cases, extremely fast.

You are saying right that we should always be prepared to face dump or huge loss in the market as we are dealing in the highly risky and volatile bitcoin market and if we can't afford to lose what we have invested then we should stay away from it.But how many people who have hold bitcoin for more then 5-6 years in the past have complained about the loss? The prices in 2017 were $20k ATH and then crashed to $3k and now comes two people at that time -

First who sold their coins below $10k due to the panic sell because they were seeing some crazy red candles on the charts and wanted to cash out the investment as soon possible but what they gained from it? Some might be in profits or loss but majority was at loss who sold.

Second comes the Holders who didn't panicked out during the dump and stay calm because they were long term hodlers and stay away from all negative vibes and still hold the coins so they are now worth $67k at this time.So they are huge profits.

There is difference between them so just prefer long term without any trading if you don't have experience for it and Bitcoin will not make you upset.

[JayJuanGee]

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

How long do you plan to go before stopping to take profits?

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

The first thing which you should do is to set the target for each coin that you bought. You can think of taking profit at 2x or 3x depending upon the coin marketcap and other factors.
There is no hard and fast rule that if you invest for an year or two, you can achieve your target. The target price for your investment can be reached much sooner than your thoughts.

I believe we should also plan for the possibility of losing money and knowing when to stop because it is not always profitable. If there was a dump , we should be prepared. Same as target profit, you should also choose your stop loss, which should be equal to the amount of money you can afford to lose in the event of a dump, just to be prepared and ensure that you will survive. However, you are correct in that making a profit may occur sooner rather than later due to the fact that cryptocurrency is extremely volatile and, in some cases, extremely fast.

You are saying right that we should always be prepared to face dump or huge loss in the market as we are dealing in the highly risky and volatile bitcoin market and if we can't afford to lose what we have invested then we should stay away from it.But how many people who have hold bitcoin for more then 5-6 years in the past have complained about the loss? The prices in 2017 were $20k ATH and then crashed to $3k and now comes two people at that time -

First who sold their coins below $10k due to the panic sell because they were seeing some crazy red candles on the charts and wanted to cash out the investment as soon possible but what they gained from it? Some might be in profits or loss but majority was at loss who sold.

Second comes the Holders who didn't panicked out during the dump and stay calm because they were long term hodlers and stay away from all negative vibes and still hold the coins so they are now worth $67k at this time.So they are huge profits.

There is difference between them so just prefer long term without any trading if you don't have experience for it and Bitcoin will not make you upset.

The second person should have enough conviction to keep buying BTC, too.... So if he had bought some BTC at nearly $20k, he continues to DCA buy on a regular basis when BTC prices are below $10k and maybe even when BTC prices spend a considerable amount of time below $6k, then he brings down his overall cost per BTC... and hopefully, he did not blow his whole wadd at $20k and over invest and since we were down below $10k for a large part of time of the subsequent time between early 2018 and mid 2020 there were a lot of opportunities to both buy below $10k.. but just to buy at whatever price was happening during that time to continue to accumulate BTC.. whether that would have been $10 per week, $100 per week or some other amount that the buy, HODLer, accumulator, could prudently put into his stacking of sats(BTC).

[aysg76]

Winning. You made the best decision of your life; I appreciate it. It's pretty simple: Save Bitcoin and build your wealth. The best advice is to quit eating junk food forever.

It might seems to be simple that holding is easy but it takes a lot of effort on the contrary side because you have to bear all that crash,dips and FUD and panic sell.Suppose you see some green candles on the charts and then you are happy to see profits but then suddenly all those crazy shit begins and they again tumble you feel frustrated also but the fact is if you are long term holder then it won't hurt you much and you only need to be calm as many are and many not and then price increases you are in profits.I personally have gone through these sentiments lot of time but believe this patience will benefit you in long run and you won't be regretting selling at this or that.

I would rather say it's good to give up junk completely but i am also of the opinion that you can enjoy some cheat meals in between and to have your favourite food sometimes as this is also nice enjoyment and often we need to have what we crave for.But there is difference between rare case and most often so make your investment with whatever you can.

[so98nn]

Such a great journey man.  These days the price is so volatile that you really need guts to hold for even 4 months in straight row! I mean I keep buying and selling as I get the chance. Like if I see if I am in slight profit then I would just go in the market and sell it out. Later on I will keep buying when the prices are down, from the same money that I sold earlier. This just gives me small drift ahead but not as much as I could end up in doubling my investment.

I think one lesson is good from your investment plan, we should keep buying at different rates no matter what and keep storing the coins. The more I am scared the more I loose I guess?

Because just look now, you acquired 0.028 bitcoins which are worth more than those all four months at the yesterdays all time high. 

[CDC AP]

I am very happy and enthusiastic in starting this business and will not leave it again, because this business is very useful for the future and having a business in the long term for a business that is also quite satisfying.because in the last few months I am very starting to be enthusiastic about getting into this field, to start my umpteenth business to gain a little experience about the business that will give me a little profit

[JayJuanGee]

Such a great journey man.  These days the price is so volatile that you really need guts to hold for even 4 months in straight row! I mean I keep buying and selling as I get the chance. Like if I see if I am in slight profit then I would just go in the market and sell it out. Later on I will keep buying when the prices are down, from the same money that I sold earlier. This just gives me small drift ahead but not as much as I could end up in doubling my investment.

I think one lesson is good from your investment plan, we should keep buying at different rates no matter what and keep storing the coins. The more I am scared the more I loose I guess?

Because just look now, you acquired 0.028 bitcoins which are worth more than those all four months at the yesterdays all time high. 

Each of us need to judge whether selling some portion of our BTC is any kind of good idea, especially if our goal is to acquire more BTC.. so in the early years of being in the process of BTC accumulation, there is a kind of need to just be buying BTC through the three main techniques of DCA, lump sum investing and buying on dips, and really you should just get selling completely out of your mind as a strategy to accumulate more BTC.

Once you reach a status in which you have a lot of BTC or you are greatly in profits, then there may be some prudence in considering including selling (small portions) of your stash in order to off-set volatility or various other goals that might not be directly aiming at accumulation but instead merely balancing your wealth in ways that are reasonable and prudent.

Each of us need to assess our own personal situations in order to figure out where these various lines might be in terms of how far we might be in accumulation stage or if we might also be overlying a kind of accumulation/maintenance stage, and surely I would not proclaim that it is prudent to keep too much of your wealth ONLY in BTC - especially once you reach a certain level of BTC accumulation and there might be some problems if you do not own other assets or currencies because of real world matters of expenses and just benefits of diversification of wealth - even if BTC might well be the best of the long term performers and prospects in terms of investing, it can serve folks quite well to have a decent amount of short term expenses covered whether having cash flow or trying to manage and maintain BTC holdings when they start to become way too much of your wealth balance... if that situation develops after 4-10 years of investing into BTC. 

By the way, if you are mostly investing with spare cashflow like OP suggests, it could take several years (4-8 years or more) to even reach points in which there are considerable profits or justifications to start to engage in some selling of your BTC in order to manage your BTC holdings and your overall wealth and allocations.

I am very happy and enthusiastic in starting this business and will not leave it again, because this business is very useful for the future and having a business in the long term for a business that is also quite satisfying.because in the last few months I am very starting to be enthusiastic about getting into this field, to start my umpteenth business to gain a little experience about the business that will give me a little profit

You are pretty vague in your comment CDC AP. 

One of the best ways to get into BTC is to start with some kind of reasonable level of DCA while you are studying the space... whether that is $10 per week, $100 per week, $1,000 per week, or some other level that you find to be reasonable for you and your situation.  As you study the space you can decide whether to become more assertive and aggressive towards your investing into it.. so probably in the beginning you might error on the side of reasonably small before becoming more assertive/aggressive.  Many of us are going to learn a lot more once we both formulate a kind of plan and begin to execute upon it  and then we can expand our exposure or the various ways that we are involved in the BTC space.. and there are surely a lot of things that can be learned and it can take a very long time before becoming more and more comfortable.. we have a decent amount of people involved in bitcoin for many years and do not really understand bitcoin very well or even NOT having had create a plan that is very tailored and customized to their individual situation whether that is merely balancing personal finances or maybe involving business finances that they might also want to expose within the bitcoin space.

[aysg76]

Such a great journey man.  These days the price is so volatile that you really need guts to hold for even 4 months in straight row! I mean I keep buying and selling as I get the chance. Like if I see if I am in slight profit then I would just go in the market and sell it out. Later on I will keep buying when the prices are down, from the same money that I sold earlier. This just gives me small drift ahead but not as much as I could end up in doubling my investment.

I think one lesson is good from your investment plan, we should keep buying at different rates no matter what and keep storing the coins. The more I am scared the more I loose I guess?

Because just look now, you acquired 0.028 bitcoins which are worth more than those all four months at the yesterdays all time high. 

I am at continuous accumulation phase of Bitcoin with increasing the weekly budget till the time i can and with this month of investment there would be more stacks added to the total bitcoins i have acquired till this time.This thread only indicates the DCA strategy that I am implementing to show the small investors or those who have the fake thought of having full btc at this price and they cannot afford it.At one point i also started with $$20-$30 low and slowly increased but my case is only for long term.

Like you can sell whenever you see profits suppose if i have sold at ATH few days back there would be sufficient profit for me as you have also mentioned but my goal is not to trade at this time and only invest for future savings and hedge guard against inflation.This way the profits will be way more than we have expected along with future security and not worry about devaluing fiat or piece of paper only.

[dEjAvOU]

Good journey and will be an important history for your life, buying bitcoin has made you profit, if you have more money of course will buy again, and this is a good example for me to dare to take risks by buying bitcoin and of course be patient to hold, already There is plenty of evidence that buying bitcoins is always profitable.

[aysg76]

Good journey and will be an important history for your life, buying bitcoin has made you profit, if you have more money of course will buy again, and this is a good example for me to dare to take risks by buying bitcoin and of course be patient to hold, already There is plenty of evidence that buying bitcoins is always profitable.

There are plenty of evidence of people claiming that we have missed the boat and something like it's bubble but it all depends on how we see things.For many bitcoin might be just an ordinary currency and they like traditional investment plans but they tend to loose future vision and i am not convincing anyone to Bitcoin but simply motivating you all that it's possible to have full btc with stacking sats also and why we always think of acquiring full bitcoin? This DCA method is helping me to secure my future as well as give profits to which i am satisfied and not panic selling with this.Once you all know about the true picture of Bitcoin the scenario is entirely different.

[aysg76]

So we are down again and for some it's time to panic sell because the bubble might burst anytime but for the long term holders and DCA investors like me this is a great opportunity because you are going to stack more sats at this time which in turn are going to give out more profits to your total investment.If you think of becoming rich overnight then it's not possible and holding requires patience and your strong mentality.

So just HOLD for long term and it's going to recover soon as bull mode is starting..

[aysg76]

So now i have successfully completed six months of regular Bitcoin investment through DCA strategy and it is immense joy for me.The plans are to keep it going for long term until i accumulate enough to secure my future.

The best part is this time i managed to cross $100/week for investing in bitcoin and now don't say that i am whale who has enough to put in  because i am cutting off my expenses on wasteful stuff but to celebrate my six months Bitcoin journey i am going to order two pizzas for me as one day is allowed to spend on them if i have compromised long for them.Just keep in mind i am stacking sats not full load of bitcoins which you can also but some are busy criticizing it and giving out excuse that won't help you.You need to take some risky steps if you want to secure your future.

Hold,invest Bitcoin for your future

Soon i will print my progress report to share with you all to tell you why btc is my choice not any other shitcoins.