2) regarding running out of fiat. I kind of understand that position, but I don't think that it is a good practice to run out of fiat... If there is any cash flow coming in, then that fiat can be saved.. just in case there is more dip... On the other hand, there could be some luck that this largely $6500 support will hold or at least support at $6k will hold.. I tentatively believe the odds are a bit less than 50/50 for holding... but as we all know, we have already had about 3 or perhaps 4 tests of this price arena... and support does seem to be pretty strong around this area... which kind of makes the breaking of support scenario to be a bit more scary, if it were to happen. Personally, I would rather NOT have to use any more of my fiat to continue to buy BTC on the way down.. so I would be perfectly happy with this price area holding. Currently, I have pretty solid buy orders down to about $4k, but I would likely have to scramble if prices were to go below $4k to think about and to consider how to set up my buy orders with the current fiat reserves that I have. Probably, I am not going to set up those buy orders until the price goes below $6k (that is if it does go below $6k.. so, certainly, I am in a kind of "compelled to watch" position right now.. and nervous for me an likely a lot of peeps - understandably especially for those who have already completely run out of fiat).
I learn a lot from you JJG, but as every apprentice I do make mistakes. Hoping to not repeat them, which is the hard part!
Part of the reason that I post so much is that I am trying to teach and to reinforce principles for myself.
It is really hard to theorize about a system and also to put such system into practice in the real world because so often the BTC market goes way beyond expectations (in both directions). Also, when you are making and tweaking your system, you are engaging in such practices to tailor for yourself and for nobody else.
I will tell you (and anyone else who wants to read) that the move up from $5,000 to $19k surely made the whole situation a lot easier for me to follow because that particular move created so much surplus value in the 3x to 5x territory for me beyond even the most bullish of previous expectations - but even with such bullish outperformance of expectations, errors can be made (still) and a lot of practice remains necessary to force each of us into following a system and to make various tweaks here and there along the way in order that each of us is able to visualize extreme BTC price moves in either direction that also allows that each of us is not going to run out of money (fiat or BTC) in either BTC price direction.
In other words, easier said than done.. and practice, practice and practice. tweak, tweak and tweak and hopefully learn little things along the way (don't be shooting for BIG learning, otherwise you are likely to digress into gambling rather than learning).