This is the period to sell your bitcoin, if you are still holding bitcoins in your wallet, do your self a favor to release your bitcoin because the price has increased above $82,000, I don't think it will hit the price many people are waiting to see this year which is $100,000, but it will definitely get to that price before the end of next year, do you think it will reach $100,000 this year? With my observation, this is not time to buy bitcoin from the market because the price has moved higher which will not allow people to make good income whenever they want to see in the future.
A trader has spoken, what are you observing in the first place if I may ask? If you employed DCA strategy, then you don't have much to worry about since you bought at lower prices and it should possibly smoothen the price volatility for you and by the way an investor's target is not on the price, but on the quantity you intend accumulating, if you are overly concerned about the price when you become an investor, you can hustle more, earn more and save a part of your discretionary income for buying the dip next time it presents itself so you buy more quantity and consolidate for the high prices you bought this period while you continue with your regular DCA irrespective of the pricing and continue to draw near your accumulation target. Accumulation should never be on pause as long as the means remains unaltered.
But, yeah, guys can rationalize and tell themselves that they have not screwed up too badly, and they are largely lying to themselves and failing to learn if they might not be able to accept the fact that they had screwed up... and yeah, sometimes they end up not losing too badly, but hopefully they are able to learn how to manage their portfolio and their cashflow better and sometimes even to be able to share their learnings with others who might not always realize that their own sloppiness might end up with losses that are much larger than they would prefer to go through.
Yeah Jay, the first step to learning from your mistakes is owning up to your mistakes, lest you keep making excuses for yourself and limit your growth with that bad attitude. Guys need to be honest with themselves so they can identify the mistakes, take adequate lessons and approach their endeavors with more preparedness for success.
If you're a new investor and you haven't reached your goals yet, I think it's best to steer clear of this Bitcoin bullrun.
It sounds as if you are recommending new investors to employ a waiting strategy, so if they don't have any coins you think that they should wait before getting started in their bitcoin investment journey?
This is the period to sell your bitcoin, if you are still holding bitcoins in your wallet, do your self a favor to release your bitcoin because the price has increased above $82,000, I don't think it will hit the price many people are waiting to see this year which is $100,000, but it will definitely get to that price before the end of next year, do you think it will reach $100,000 this year? With my observation, this is not time to buy bitcoin from the market because the price has moved higher which will not allow people to make good income whenever they want to see in the future.
You are saying that if someone has no bitcoin, then they should not buy right now?
And you are also saying that a person might have just stared buying bitcoin in the past year or so, they should sell too?
Of course, everyone is free to do whatever they like, yet it seems pretty presumptuous that you are selling now or failing/refusing to buy now because you consider that you are going to be able to buy back cheaper.. which may or may not end up being a very accurate presumption.
One reservation I have about waiting for a presumed right time to start your accumulation journey is that it takes relatively a while for you to attain maturity in your accumulation journey, and waiting to start is waiting to build these necessary experiences and skills towards being a committed and dedicated investor which is never the best option. why the wait? If you must be an investor, you need to start right from when you got your conviction and start buying bitcoin. And why should I start thinking that I should sell my investments in order to buy back cheaper with the dip when I can save up for the dip aside my ongoing DCA and buy more quantities during the dip, thereby achieving two wins at the same time and nearing my accumulation target faster. It is not a good practice to ever stop accumulating and wait for a presumed opportunity when you have not yet arrived at you accumulation target.