Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Yep I also had to downgrade my lifestyle.
Me too tbh, Ive lived a bit of a false life since last year when I cashed in all my free BCH.
HODLING bitcoin is boring as fuck, having all that money but not being able to spend any of it. Fucking cock tease.
Itll all be worth it in a few years though.
Same. The funny thing is that I haven't actually cashed out anything. I just looked at my wealth increasing "on paper" last year, and stepped things up accordingly. Ate at fancier restaurants, flew first class, etc.
Now I'm back to Taco Bell and flying coach.
Sell high, buy low
Bolded - Most commonly used quote in trading & not just crypto. People get burnt that way all the time. How many people sold at $2000 - $3000 last year thinking they were going to sell high, buy low.
Good point!!!!!
That's why you gotta change the mantra a little bit.. to "sell on the way up and buy on the way down" because you can never determine with any kind of precision when is the top and/or when is the bottom.. and therefore incrementalism rules, rather than all or nothing. Accordingly, you sell such small amounts of BTC that you never are going to run out, and buy back only a bit more than you sold, so you never run out of fiat, either. The system works, as long as the asset goes up in value in the long term, but such system is not likely to work too well with pump and dump shit coins that are quite likely to go to zero or some other value approximating lower and lower (because let's face it, a lot of the shit (zombie) coins continue to survive in spite that they are shit.. they get revived and revived and revived several times after you thought that they were ded, dead)