Hi all,
I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.
Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.
My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.
I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.
Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?
I'm doing a DCA as well, it's the easiest and best solution in my case. I think that after we pass $100k probably I would start selling little by little, in my opinion in the next bull run I don't think we'll be able to go beyond $150-160k, that's why at $120k I may sell 20%, at $130k another 20%, and so on. The idea is to buy again at a discounted price. I don't care selling at the top or buying the the bottom, whoever is able to do that is just plain luck and it happens maybe once or twice, so even if my timing is not the best I don't care, I'll be happy anyway.
As long as you bought during the bear market or the accumulation phases, you will make a profit during the bull market. Profit is profit and we should be happy because of that. I personally believe that selling portion by portion is a good way of liquidating our assets during a bull market, I had done it in the past and I'm planning to do it again when the bull market comes. This make sure that you won't have any regret in selling it all in a somehow undesirable selling price.
Taking profit is important thing to do and buying an asset again to roll your money is much more important. I failed to understand and execute it in the past that's why I had a bad bear market in the past.