Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Road to 100k?
by
Reincarnated Sat
on 01/07/2024, 08:14:27 UTC
⭐ Merited by fillippone (1)
There is nothing wrong with the contents of your post, except when you act as if there is a guarantee that bitcoin will go back up..

Sure, I don't have any problem with investing aggressively into bitcoin and making sure that each of us is adequately prepared for up.. I even recommend that guys make sure that they are sufficiently and adequately prepared for up since the overwhelming majority of the world's population has either no coins or few coins, so they are not sufficiently/adequately prepared for UP, yet at the same time my own preference that each of us strives to be sufficiently and/or adequately prepared for UP does mean that UP is guaranteed.
I believe UP means Ultimate Pump( I don't know if I'm right on this)

You are free to think how you like, yet to me, it seems problematic to be expecting outrageous upward BTC price performance, even though many of us know that both it has historically happened several times, and it can happen in the future, yet you can still design your own bitcoin investment approach in order that you are financially and psychologically able to deal with and handle great BTC price moves that could go in either direction, yet at the same time, great BTC price moves are not guaranteed to happen... so it just seems problematic to me to be thinking like a gambler... waiting for the next up.. which surely does not even seem like an investor's mindset.

In late 2013, when I first got into bitcoin, I was hopping to average around 6% of price appreciation out of bitcoin per year, while at the same time realizing that the BTC price could go up or it could go down and also realizing that if I were able to get more than 6% per year (on average), then that extra BTC price performance would be like icing on the cake (like a bonus of extra value that was not necessarily needed in order to be content with my choices to invest into bitcoin in the way that I did). 

My first few couple of years in bitcoin, my BTC holdings were quite greatly in the negative, yet by the end of the second year, BTC holdings were largely in the ballpark of flat (depending on how I did the accounting), and surely by the end of the 3rd year and into the 4th year, it started to become way more apparent that my BTC holdings were going to way outperform my 6%-ish expectations, and surely I have probably gotten somewhere in the ball park of 70% or so returns (surely each of us can make mistakes in the way that we might allocate, and so there could have had been ways that my BTC holdings could have made more than 70% per year, but I have no problem with those kinds (levels) of returns over a little more than 10 years).   So the difference between returns of 6% and 70% per year feels like a kind of icing on the cake and a profit cushion and surely has given me a lot of options that I did not expect had to happen, but it still feels good to have extra options. .and surely much of the receipt of the extra options came with patience in terms of the passage of time and not getting too worked up with BTC's heavy volatility that surely goes in both uppity and downity directions.. yet overall has been trending uppity... and from my continuing perspective, there should not be any need to get greedy with any future uppity candles.

Yeah one should not be too concern waiting for the next up in Bitcoin, it will always affect your accumulation journey because your mindset is now a trading mindset a true Bitcoin investor holds for Long time and is not always concern about the next up in Bitcoin.
And I feel some newbies that does This does it because they really don't know about Bitcoin they feel when it goes up withdrawing it is the best option and then wait for another dip to happen so they can invest.
I will not advise any newbie to have this mindset accumulate Bitcoin and hodl for a long term is the best because Bitcoin is one of the best investment in the world right now, if you always engage in trading Bitcoin especially as a newbie you will find yours losing money.

For me I'm not concerned about Bitcoin volatility because I feel is not necessary, all I'm concerned about is accumulating as many Bitcoin as possible, when one is concern about the volatility of Bitcoin it will always affect is accumulation journey some people has the opportunity to be a little aggressive in there Bitcoin accumulation but because of the fear of volatility they fine there self not taking the chance, Bitcoin volatility will never affect you Bitcoin is bigger than you are thinking from now till the next 6 to 7 years a lot of people will regret why they have not accumulated enough Bitcoin just same way people who had opportunity to invest to invest in Bitcoin 10 years ago refused.