Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Zaguru12
on 14/09/2024, 22:42:04 UTC
⭐ Merited by JayJuanGee (1)
My point is that it could become quite tempting to spend some of your BTC investment too early,.. and yeah, sure it might not seem like any kind of problem when you are in your fairly earliest of stages of BTC accumulation, yet if you make it through one or two BTC cycles, you might not be close enough to fuck you status, yet you still might get lured into cashing out decently large portions of your BTC or perhaps diverting your BTC accumulation efforts (when you really should still be accumulating BTC) way earlier than you should be, and perhaps even preventing yourself towards ever reaching fuck you status which might have had been your goal and which might have had been reasonably within your reach if you had not gotten distracted away from your BTC accumulation efforts...and even ending up spending decent chunks of your BTC.

One thing about investment and this is not only about bitcoin Alone but even less Volatile assets or investment is psychology, many people do not find it hard to start investing sometimes but they find it hard to grow that investment, one of the biggest problems is that we think as profits starts settling in we as individuals need to match the investment with our lifestyle and some people take off profits that we meant to be the main foundation of the investment to upgrade their lifestyle and it is on this believe that so many businesses have collapsed today.

Not that I am against taking off profits from any investment, in fact I usually tell some bitcoin investors that they should have partial profit target to take out some profits. This profits can use to build another investment to serve as diversification such that profits from this new investment can still be use to gain back the bitcoin which was liquidated to build that business. One can also take profit from one’s portfolio to solve some problems in the family or home at least it is far better than going for Loans but all this should be done with a mapped out plan for it so as not to spend off capital think one is spending i