Crypto Veterans and Legendaries: Need Advice on my Bitcoin Strategy
tldr;
I missed the boat in 2017 Bullrun and the subsequent crash taught me lessons that I will never forget and those lessons are deeply seared into my subconscious.
This bull run I accidentally made $650k and I likely invested around $15k here and there.
1. I am 100% sure I never want to be in a position where I have to explain to myself how I was $650k up and then squandered everything.
So, I cashed out with BTC at near ATH few days back.
I follow the simple Grandma/Shoe shine boy as a sell signal and that's what I did.
"Coinbase was also the most popular downloaded app in the United States in both 2017 and May 2021, as per Cointelegraph. Notably, both periods saw a significant cryptocurrency frenzy. The current surge in popularity of Coinbase and Crypto.com on the app correlates with euphoria in the cryptocurrency market as well."
I am not super happy though. If the bull run starts in the next few weeks and then extends over to the next 2 quarters and BTC reaches an ATH of around $200k to $250k per coin, I won't be able to forgive myself.
At the same time if I ride the wave all the way up and all the way down and lose 90% of the value in the bag, I won't be able to deal with that at all.
I just want the bear market to be here as soon as possible so I can buy lot of cheap BTC coins and then forget about everything for the next 3 years. 2025 will be my second and final Bull slaughter.
Right now 100% of the crypto I have is in stable coins.
My current strategy is to wait for the bear market to arrive.
The next Bitcoin halvening is early 2024. I want to start DCAing into BTC from 2023 October and slowly extend into ETH in 2024.
From the exact date of halvening I will convert my BTC into Altcoins and invest in every new coins that gets listed in Binance that year and other famous exchanges. I will also reserve 10% of the crypto for the fad of the summer i.e Similar to Defi, NFT, ICOs.
This should net me 15x to 20x if I get lucky. So that's 15 x 650k = $10 Million and that should hopefully set me up for life.
The most rational course of action I can take now is just wait however long it takes for the bear market to arrive i.e gritting my teeth through the Bull run.
Some times I feel.. why should I do this? If I play my cards right.. I might 10x during this bull run and turn $650k into $7 M .. this way I can end the whole thing in the next 4 to 6 months. $7 Million is a lot of money.
But my gut tells me I can only 2x or 3x atmost and while 3xing my NW, I will slip into the bear territory and lose 90% of everything I have.
The other thing is I want to create 50 different wallets and store $13k in them so I won't FOMO in and lose a lot impulsively. It will force me to DCA.
I might just lock up $600k in cold wallet and then play with $50k that way I won't feel left out of the action.
What do you guys think about my strategy?
I missed the boat in 2017 Bullrun and the subsequent crash taught me lessons that I will never forget and those lessons are deeply seared into my subconscious.
This bull run I accidentally made $650k and I likely invested around $15k here and there.
1. I am 100% sure I never want to be in a position where I have to explain to myself how I was $650k up and then squandered everything.
So, I cashed out with BTC at near ATH few days back.
I follow the simple Grandma/Shoe shine boy as a sell signal and that's what I did.
"Coinbase was also the most popular downloaded app in the United States in both 2017 and May 2021, as per Cointelegraph. Notably, both periods saw a significant cryptocurrency frenzy. The current surge in popularity of Coinbase and Crypto.com on the app correlates with euphoria in the cryptocurrency market as well."
I am not super happy though. If the bull run starts in the next few weeks and then extends over to the next 2 quarters and BTC reaches an ATH of around $200k to $250k per coin, I won't be able to forgive myself.
At the same time if I ride the wave all the way up and all the way down and lose 90% of the value in the bag, I won't be able to deal with that at all.
I just want the bear market to be here as soon as possible so I can buy lot of cheap BTC coins and then forget about everything for the next 3 years. 2025 will be my second and final Bull slaughter.
Right now 100% of the crypto I have is in stable coins.
My current strategy is to wait for the bear market to arrive.
The next Bitcoin halvening is early 2024. I want to start DCAing into BTC from 2023 October and slowly extend into ETH in 2024.
From the exact date of halvening I will convert my BTC into Altcoins and invest in every new coins that gets listed in Binance that year and other famous exchanges. I will also reserve 10% of the crypto for the fad of the summer i.e Similar to Defi, NFT, ICOs.
This should net me 15x to 20x if I get lucky. So that's 15 x 650k = $10 Million and that should hopefully set me up for life.
The most rational course of action I can take now is just wait however long it takes for the bear market to arrive i.e gritting my teeth through the Bull run.
Some times I feel.. why should I do this? If I play my cards right.. I might 10x during this bull run and turn $650k into $7 M .. this way I can end the whole thing in the next 4 to 6 months. $7 Million is a lot of money.
But my gut tells me I can only 2x or 3x atmost and while 3xing my NW, I will slip into the bear territory and lose 90% of everything I have.
The other thing is I want to create 50 different wallets and store $13k in them so I won't FOMO in and lose a lot impulsively. It will force me to DCA.
I might just lock up $600k in cold wallet and then play with $50k that way I won't feel left out of the action.
What do you guys think about my strategy?