⭐ Merited by fillippone (1)
I dont mind saying mistakes, lots of people sold early because it was far more irregular back then. I like to think I've learnt a bit or gained experience. In any case BTC has to circulate and it is a positive its being used, traded. Tons of people mined BTC back when it was more home user and sold it, with electric bills that was quite normal to do.
Im not recommending trading, I wouldnt do that any more then recommending the next horse to win a race. There is a parallel in trading and gambling I agree, but people do want to discuss the market direction and I think that is fair to discuss and whether people act with conviction to buy more or less is upto them. I agree people should be doing DCA in growth assets & I would have agreed with that strategy even before BTC was invented.
Majority of people wont be good at trading, if BTC is a bull market - it is, then there is a higher danger of missing out elevated by trading. Iam interested in trading but nobody should be betting they are correct with all their BTC, its such a volatile market that would be very difficult to achieve .
Many people sold their bitcoin because they did not fully understood or grasp the potentials of bitcoin and the unique qualities compared to traditional assets ( Gold, silver, Real Estate stocks & bond etc). Bitcoin being the first of its kind ( digital currency) was an assets entirely different from others. It's decentralised nature made it different because it not determined or controlled by third party, the ability for transactions globally without a third party.Your explanation sounds more of trading to me.
To defeat your enemy you must know your enemy, thats as succinctly as I could put it. But its better I defer completely to Sun-TzuIm not recommending trading, I wouldnt do that any more then recommending the next horse to win a race. There is a parallel in trading and gambling I agree, but people do want to discuss the market direction and I think that is fair to discuss and whether people act with conviction to buy more or less is upto them. I agree people should be doing DCA in growth assets & I would have agreed with that strategy even before BTC was invented.
Majority of people wont be good at trading, if BTC is a bull market - it is, then there is a higher danger of missing out elevated by trading. Iam interested in trading but nobody should be betting they are correct with all their BTC, its such a volatile market that would be very difficult to achieve .
I largely agree with an explanation that there are (and were) a decent number of folks selling too much BTC too soon based on a failure/refusal to appreciate both the difference in bitcoin and that bitcoin is a paradigm-shifting asset... yet at the same time some of those who sold too much too soon might have recognized and/or appreciated the upside potential of bitcoin, yet they were lacking in creativity and skills in order to employ some kind of a meaningful cash management strategy that would allow a fair and/or reasonable hedging of their bet. In other words, there are probably ways that guys could sell decent amounts of their BTC stash on the way up as long as they are not selling all or too much of it... and even if they sell some of it on the way up, they still could end up having significant and meaningful amounts of BTC in order to not be greatly prejudiced from such selling of their BTC on the way up.
The selling on the way up strategies work best when the BTC accumulator HODLer has already accumulated enough BTC and even better if he had accumulated more than enough BTC so that any selling of BTC is not really seriously impinging his overall BTC stash or a likely outcome that there would have had been ways to cash out in ways that his BTC stash is going up in value way more than the value that is being regularly, ongoingly and persistently withdrawn - which might vary depending on if time-based withdrawals are employed or time-based withdrawal strategies are carried out.
Trading is not an option especially for individuals with investment intentions, because of its too volatile and challenging. Buying and HODLing bitcoin is regarded as the best approach when it comes to bitcoin, it has lesser risk especially when using a DCA strategy that is more comfortable to use in investing in Bitcoin.
I agree with you, yet for some reason a lot of people are still lured into trading.. .and they come to believe that there could be some advantage in trading. Maybe people just have some desires to believe that they got the next price leg figured out?
Just sharing my image here but in the short term my target is 80K
If you look at my chart My target is bitcoin going to retest previous support at 63-65K level and then BTC should break the 70-73K level and goes to 75K and from then if bitcoin can manage the price at that level then 80K is my closest target
If you look at my chart My target is bitcoin going to retest previous support at 63-65K level and then BTC should break the 70-73K level and goes to 75K and from then if bitcoin can manage the price at that level then 80K is my closest target
What you gong to do at $80k then? How much you selling? All of your BTC stash? or some portion of it? After you sell, then what you going to do?
Are you selling at any point prior to $80k, and if so how much?
Of course, changes might take place, then you have to change your plans, so your plan sounds all wonderfull right now, but if the UPs and DOWNs (the waves) are not playing out as expected, then what?
Your proposition sounds like a BIG so what, even if the BTC price might possibly end up playing out within your trajectory.. who would want to attempt to play such a thing? Seems dumb (even short-sighted and a waste of time, money and energies) to try to play those kinds of possible price waves, even if it might end up being correct. What odds are you giving it? Even as a base-case? maybe at best, 30% to 40% odds to play out exactly as you described it?
Can you think of any other better strategy rather than planning to play waves that may or may not end up panning out?
Can you think of anything?
Anything?