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Topic
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Merits 7 from 5 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 01/12/2023, 03:50:17 UTC
⭐ Merited by danadc (3) ,xhomerx10 (1) ,AlcoHoDL (1) ,vapourminer (1) ,OROBTC (1)
[edited out]
Saylor is a true believer which I respect, rather than being just another hack which so many of these famous people who got catapulted to stardom through Bitcoin or via shitcoins turned out to be.

I doubt he has a set goal in mind.

Too much is never enough.

I think that any of us can still be true believers, and still conclude that we have enough BTC.

It is not easy for someone like me to criticize what Saylor is doing, because the world does benefit from a variety of perspectives, including his level of ongoingly investing large amounts into bitcoin.     
 
Those kinds of strategies are also not necessary for normies to emulate without getting themselves into trouble, even though it might show some normies that they are being too whimpy in their bitcoin approach.

I personally have not changed my strategy because of Saylor, even though surely his ongoing buying does give me several assurances, and I even use him as an example of what people can do and still not overdo it that is much more than what I personally do, and even though I largely suggest normie newbies to start out with something between 1% and 25% into bitcoin, Saylor kind of brags about being "more than 100% in," which is also a bit misleading to compare him with normies, so there were likely some normies attempting to do what he was doing and ending up recking themselves, and I am not going to necessarily blame Saylor for that, but I am also not going to suggest that "too much is never enough," because sometimes, too much is actually too much.

I felt like I had too much BTC in 2015 in terms of my own goals and I have been dealing with that ever since, and surely I have not sold very many of those BTC, but I have pretty much stayed with the perception that I have too much BTC.. but it still feels good at the same time.. so maybe at this time, my BTC might be in the ballpark of 70% to 75% of my total networth.. or my various quasi-liquid assets that I consider constitute my overall investment portfolio.. I do have to get my monthly accounting in order.. but I think that is about where I am at... .. but still for me that is either enough BTC or even too much BTC.. so it does not really feel like a bad thing, but I suppose if BTC prices were to go below $10k I might start to wonder?  Why do I have so much BTC?  .. but yeah, does not seem too likely that we are going there.. and if we end up going below $10k I will have to deal with it because I will likely be buying all the way down.. probably at least down to $13k.. and probably a bit lower.. Even my contingency plans for below $17k are starting to get weak at this time.. .I must admit.... so why prepare for things that seem quite unlikely to actually happen?

I have not exactly placed my down odds, but surely it is starting to seem like anything even below $22k is seeming realy quite unlikely, but I still don't mind preparing pretty decently for a bit below $20k.. just like I was mostly prepared for down to $20k in 2022.. but my preparations below $20k were not that great.. and so those can be trying times and some of us not really having a very much money available to buy more if the BTC price were to keep going down.. so just HODL.. maybe cut various expenses.. resume DCA that had not really been used very much since 2015.. .. all of this as a result of both having enough and even having too much BTC.

I feel that I am in a pretty privileged position to still not have to really take any real drastic moves, even though we spent a couple of months in those kinds of way below $20k lows.. and probably we even spent closer to 7-8 months bouncing around, testing $20k and not getting too far above $20k. and there was even a revisit of sub $20k in early March 2023.. so yeah. going back up from there surely can bring back some more confidence, but there still are moments of feeling like having too much BTC.. while at the same times having BTC that at worse was only 16x to 20x in profits during the worst of the periods, and surely other people with larger holdings in BTC but their BTC might well not have been so great in mine in terms of the level of profits that they were in the worst of 2022 and early 2023..

So I guess that I am not even really referring to the newbies who would still be able to lap up bitcoin during those times but yeah we cannot presume the circumstances of the newbies because sometimes even the newbies are going to be feeling like they have too much bitcoin, while they continue to buy more similar to how I was starting to feel in 2014 and 2015 when the BTC price kept going down and seeming like it did not want to start to go up.. so at some point I started to feel like I had enough and even too much, but I continued to buy... which was already part of the system of bringing down the average cost per BTC in the stash, even if the overall BTC portfolio was more than 50% in the red.. so maybe there were some times that it was ONLY 36% or so in the positive.. , so each purchase brought the average price down, but each purchase was a drop in the bucket as compared with how much that had already been put in at higher prices.

I probably have made my point well enough.. ,.. even though I do feel a bit of rambling to have had taken place.