Quote from: Justbillywitt on Today at 02:14:28 PM

Quote from: naira on October 20, 2024, 03:27:59 PM

Quote from: JayJuanGee on October 19, 2024, 08:45:18 PM

So even if they might say that they are ready for either up or down prices, they might end up not really being prepared because they ended up over-investing in light of their own mental preparedness.

Halving 2024 I released all Bitcoin holdings that had been DCA for 4 years (maybe it's too early to release it but as a small retailer the economic situation is not always friendly), full of twists and turns and indeed as you said it is not easy to win mentally from the fluctuating price situation when the financial condition is getting thinner but I have gone through all that. From the sales I managed to build my dream house.

Now facing the next 4 years I will start DCA again with full preparation from before, with strategies and all the shortcomings that have been evaluated.

Well I will say that the mistake has been made already. The best approach would have been to sell part of the bitcoin you have held for the past 4 years, instead of selling all at once and having no bitcoin at your possession. You will agree with me that you can't get bitcoin at the price you got it 4 years ago. And for you to get that amount of bitcoin in today's market reality you find out you are going to spend more money than what you even sold it for. The best approach was to sell the profit you got from the investment you made in that 4 years of holding, since you had need to take from your investment, after your successful holding of a circle. You should have kept part that was equivalent to your capital invested. A good famer don't eat up his seed, and start looking for where to get seed in the next planting season. He always reserve his seeds.

Maybe, naira should have waited a little till when bitcoin price reachws 100k before selling, so that he could have sold 60% of his portfolio for building his house and continue hodling the other 40%, while he keeps on buying to add to it constantly with DCA method like he said he will start all over again to start accumulating from the crash.

However, we have our own right to make our own decisions and plans for our bitcoin investment. Since a house is part of the basic needs of life, and he has finally achieved that, it is good. I will prefer to build and grow my bitcoin investment, and at the same time try having various source of income that I can depend on to take care of whatever responsibilities so that I don't think of selling way too soon to achieve something great, but rather hodli for very long whereas, I can shave profits little by little from time to time when I feel that I have more than enough bitcoin, so that I can continue to benefit from the compounding effect of bitcoin.