Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
**Sigh**
When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.
Disappointed.
When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.
Disappointed.
I'm fairly optimistic that at some point we are going to get at least 1 or 2 or possibly more 10x bubbles in bitcoin; however, in the meantime, we should protect our BTC portfolios.. for the possibility that it could take a few more years. NO?
I've never sold any of my stash since I became involved in bitcoin & don't intend to atm. I'm a long term HODLER, my confidence & hope in bitcoin has taking a bit of a bashing lately though.
I hope for better times.
If you are getting so emotionally upset about the market movement, then that seems to be a sign that you are over invested... accordingly, you can sell a little to make yourself feel better.
My portfolio is still in the red. My current average cost is around $472.... In October 2015, my average cost per BTC were around $501, and I divided my BTC stash into three portions in order to justify selling portions of it, and to prepare for price movements in the market in both directions. The division of my portfolio was more or less as follows:
1) portions I acquired above $600
2) portions that I acquired between $300 and $600
3) portions that I acquired under $300
Accordingly, I began trading the portion under $300, and thereafter some of the portion acquired between $300 and $600.
I sell in very small quantities, and I have never traded more than 1% of my BTC stash in any trade nor more than 10% accumulated trades, and the BTC portfolio situation feels a lot better than holding all of it and only accumulating (which had been the totality of my previous strategy for nearly 2 years). Further, I feel a lot less stressed when the market goes down or fails to go up. Currently, in my BTC trading portfolio, I have about 95.7% in BTC and 4.3% in cash. It's great because I am prepared for the price to go down and just spread out the buys in order to never run out of buying money... largely without investing any more fiat than I already had invested by October 2015.
In essence, I have stacked a pretty good amount of fiat in preparation for falling prices, and I have also increased my BTC holdings by a little more than 3%... .that is even accounting for one trade that I made on LocalBitcoins in which the fucker reversed the fiat payment (through Venmo), so in essence I lost nearly 1% of my BTC holdings over the deal....
Anyhow, you can have vehicles in place in order to sell small amounts of your BTC holdings as the price goes up... while still preserving a large percentage of your total holdings and not getting too emotionally invested in whether the price is stagnant or even bearish.. so long as in the long run (several years down the road) the price continues to go up (which currently seems to be a reasonable presumption).