My plan, simply put is:
- Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
- Wait for that investment to grow by 5-10x
- Pull out my profit and invest into residential property
- Live off the rental income (passive income will be £100,000 / $120,000 p/a)
I think it's great to have a long term plan set out prior to any major investment, and to have a goal you are aiming for. You should have a set price at which you want to cash out your bitcoin; too many people during the last bull run got greedy and just kept waiting and waiting for a higher price, and then ended up panic selling on the way down, often at a loss.
What do you mean by selling at lost buddy? I believe that when someone buy Bitcoin at the rate of let assume $10,000 and his expecting to sell at the rate of $19,000 but unfortunately the Bitcoin price increase stopped around $17,000 though it didn't get to the expected price of $19,000 and started going down to $17,000 and the investor out of panic sell at $15,000. Is its the kind of scenario you are referring to as the investor sold at lost? I don't believe he actually sold at lost but what I believe is that he sold at profit.