Hey guys,
My wife and I have been investing in BTC since around the last ATH, so this coming halving is the first one we've experienced. As a result, we need to figure out a profit-taking strategy. I was hoping to get some input from the community here.
We currently have around 1.5 BTC, and our ultimate goal is to be able to use that to help us buy a house and be able to retire at some point. Nothing too crazy. I'm hoping this bull cycle we'll be able to at least get a decent down-payment on something, then maybe over the next cycle or two be able to pay it off.
Anyways, the strategy I'm considering is something like, when BTC crosses $100K CAD, (it's currently at $83K CAD) I plan on selling 0.01 BTC per week. Kind of like DCA but in reverse. Then possibly increasing that amount alongside BTC value, so if it crosses $125K, sell 0.0125 BTC per week, 0.015 per week at $150K, etc.
Since it's impossible to predict exactly what will happen to BTC price over the coming bull market, I'm hoping to get a decent return over the course of the cycle without completely selling all of our BTC. Then when it inevitably flips bearish again, start DCAing back in like we have been up to this point.
What do you guys think? Does that sound like a reasonable strategy? Is there anything else I need to consider?
Thanks :-)