Targeting big profits in investments is normal and many of us want to achieve big profits someday. The twists and turns of our investment journey certainly have many obstacles and that is a struggle that we must go through to achieve success in Bitcoin investment. I also want to change my fate to live more frugally in order to be able to accumulate bitcoin more aggressively this year.
When I got started in bitcoin, I had projected out a 6% return per year, and surely it took more than 3 years before BTC prices were higher than my 6% per year projection.. because the BTC price corrected, and it took more than 3 years to get back to where I initially projected where the BTC price might be in 3 years... so I was largely wrong in my projection, but that meant that I accumulated way more bitcoin than I thought that I was going to be able to accumulate, and so even after the three years the BTC price ended up going up nearly another 15x and then correcting back down to something like 3x above my projected price point...
so one thing that could end up happening is that the price goes up, and then you hope that the price goes up after you had been spending time accumulating, but even if it does not, if you still have confidence in the investment, you should still be ongoingly, persistently and consistently accumulating.. in order to help you towards accumulating more BTC..
and part of the reason that you do it ongoingly, persistently and consistently is because you do not know where the price is going to go.. or how long it might take to get there, but if you have a 4-10 year or longer investment time horizon, then you could still make progress, and surely if a price rise had not come in 4 years, then maybe you would keep buying and your time horizon continues to move out from each of your buys... and if your time gets shorter than 4 years, then maybe you stop buying or in some other way adjust your buying amounts downwardly in order to account for the fact that you no longer have a 4-year or longer investment time horizon.
Halving is so close.
Even though our target is for long-term investment, we are of course waiting for the halving moment because it happens every 4 years. They would have made many achievements if they had invested early in Bitcoin because of every halving, of course they would have welcomed it with joy. The price issue is not something we want to talk about, but please know that this year's Bitcoin miners will get smaller rewards. from there, make the best possible use of the opportunity we have to keep buying and buying because there are only 21 million bitcoin. which will become increasingly rare because many are lost from circulation such as their owners passing away or they don't save their private key so they can't access their Btc holdings.
I agree. The halvening is a technological marvel. And the fact that there are only 21 million BTC is a technological marvel, and we know that inevitably a lot of folks are losing access to their coins and are going to continue to lose access to their coins.. whether it is death and lack of properly passing them down or other ways that people lose their coins and the coins are gone forever into a donation towards everyone else who continue to hold coins.
That's a good journey from the investment you have made where price rises and falls are not an obstacle for you to hold BTC in the long term. For those of me who are still too early in long-term investment, I will apply each stage to continue buying Bitcoin. I will probably measure the average entry when I reach my target in long-term investment, maybe in the next 10 years. Indeed, at the moment I am a little lucky if I look at my initial period because I bought at a price below $20k when Bitcoin fell significantly in the previous year, which would have been a very beautiful moment for me. When my long-term journey is finished, maybe I will still win Bitcoin because Bitcoin will have quite fantastic value in the next 30 years. It doesn't seem impossible to say that Bitcoin has more promising returns for long-term investment.
The situation in our environment will have a strange impact when we suddenly have great wealth because the investment we make in Bitcoin will never be known by the people in the circle where we live. Well, as you said, of course it is true that many Bitcoins will disappear from circulation because their owners die. I imagine that in the next 30 years Bitcoin circulation will certainly become thinner due to many reasons. Even though that is my assumption, for now it is true that if they don't pass on the private key to their family then there is no way for their family to own their BTC.