Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by bitmover (3)
Well, if you sell old corn, it's not really "the bottom" 
That makes no sense OOM.
Anybody going to sell into this little pump? I see the stock market continues to bleed and worst case is we see a real massive dump coming. I dont know much about the stock markets. But it feels very different this time. Because the stock market pump after the covid crash was massive.
Every time feels different.
Good luck selling at the bottom.. you will need it.
I think I just made the biggest decision of my life. I have converted nearly all my savings in fiat that I have amounted over my life time and invested all of it into Bitcoin @ around $36,850. I am in a weird place now because I know it is the right decision and I have confidence in my decision but I am shaking all over the place. I have kept some emergency fund in my personal bank and if any other unexpected costs arise I will be prepared to take out what is required again from my Bitcoin fund.
The process of buying this amount was not easy I had to call my bank because the transaction was blocked then I had to wait 20-30 minutes for the bank to answer me. After that the customer service guy tried to lecture me about how cryptocurrency is very risky to invest in. I told him I had been around number of years but he said he had to go through all of it. I then had to confirm that I wanted to send this amount knowing the risk. They wanted me to come into the local bank and confirm some details but I told them because of the snowy conditions that would not be possible. He then allowed me to go through verification and send the amount. This probably took me over 2 hours to complete because I was put on hold many times. But do you know what the biggest eye opener of this experience was? with Bitcoin I would not need to go through this waste of time confirming my details because now I am my own bank. I do not need permission to spend my money even if it is for a risky investment. I am both relieved and scared. I have a lot of faith and I think I have bought at the best possible time and before completing the purchase I was 99% sure this was the right thing to do but the nerves have kicked in and I think I am probably about 60% sure now.
The process of buying this amount was not easy I had to call my bank because the transaction was blocked then I had to wait 20-30 minutes for the bank to answer me. After that the customer service guy tried to lecture me about how cryptocurrency is very risky to invest in. I told him I had been around number of years but he said he had to go through all of it. I then had to confirm that I wanted to send this amount knowing the risk. They wanted me to come into the local bank and confirm some details but I told them because of the snowy conditions that would not be possible. He then allowed me to go through verification and send the amount. This probably took me over 2 hours to complete because I was put on hold many times. But do you know what the biggest eye opener of this experience was? with Bitcoin I would not need to go through this waste of time confirming my details because now I am my own bank. I do not need permission to spend my money even if it is for a risky investment. I am both relieved and scared. I have a lot of faith and I think I have bought at the best possible time and before completing the purchase I was 99% sure this was the right thing to do but the nerves have kicked in and I think I am probably about 60% sure now.
I appreciate your description, but seems that you would have already established a decently sized bitcoin investment over the past 7+ years that you have been a forum member, no?
When I got into bitcoin in late 2013, I largely front-loaded DCA'ed for a year, and then at some point towards the end of 2014, I had contemplated cashing a portion of my 401k into bitcoin, and that would have largely doubled my BTC investment at that point.. and also brought down my average cost per BTC quite a bit.
After I considered the matter for about one or two weeks, I decided NOT to go through with such a large transfer of value into BTC, and part of my rationale was that I concluded that I had already established a pretty damned large amount of exposure to BTC - including considering that in relation to my various fiat related investments (which would have also included my 401k)..
I don't regret my decision.. even though I could have doubled the size of my BTC stash at that time because I made such decision based on my sense of my total situation and the information that I had in front of me at that time.
Of course, I have a lot of posts on this forum, so in some sense, members can see various ways that my ideas about bitcoin have changed over the year, and largely it seems to me that bitcoin is quite a bit of a better investment these days than it was in either late 2013 or late 2014.. even though we have had a whole hell of a lot of BTC price appreciation between late 2014 and present... so in that regard, whether you doubled your BTC stash or you increased it by some other amount - even 10% or 20%, there is some value in going through a process of considering the totality of your own financial circumstances. which surely would include considering your cashflow, your other investments, your view of bitcoin as compared with other possible investments, your timeline, your risk tolerance and your skills, time and abilities to learn along the way and to tweak your strategies along the way which may also include considering reallocating from time to time, trading and/or the use of financial instruments (including margin), and for me, I have never really been a big advocate of any kinds of gambling techniques, so I am frequently concerned about making any moves that are on the relatively BIGGER side of things.
Hopefully things go well for you, and I hope that your investment timeline for this additional injection is at least 4-10 years, and in that regard, I would have more confidence in the whole situation rather than if you might have been considering the possibility of turning much if any of your additional investment in less than 4 years.