Quote from: Abbatty on Today at 09:11:17 AM

Quote from: JayJuanGee on November 23, 2024, 10:01:09 AM

Quote from: Abbatty on November 22, 2024, 09:48:50 AM

Quote from: Sovannar Sangha on November 21, 2024, 04:37:35 PM

Snip

You talk as if you are a bitcoin analyst and you are so sure about your predictions, there will surely be a little dip but the chances of your prediction to happen without reaching $100k in a few days or weeks is very low. As a fellow Bitcoin enthusiast, I'd advise enjoying the current bullish trend. We're nearing $100k, and considering the rapid progress, it's likely we'll surpass this milestone very soon. Let's not spoil the excitement with negative predictions, which might cause unnecessary panic among new investors... Rather than focusing on potential dips, let's appreciate the bullish ride and the opportunities it brings. After a long bear market, it's time for investors to reap the rewards.

When it comes to bitcoin, investors don't need to reap rewards by selling their BTC as you seem to be implying, although they could reap rewards by appreciating that their wealth has gone up and likely to continue to go up by their choice to ongoingly hold the bitcoin they already accumulated..

The goal is to hold for a long period and keep accumulating more so i wasn’t implying that people reap rewards by selling their bitcoins but rather seeing the price of bitcoin going higher in such way is also a reward for investors as it will help motivate us more to keep hodling to witness a even higher price. Selling will only make you to lose out and buying back might be a little difficult as the price keeps rising because bitcoin is a continuous train that is moving for a long time so selling is not an option.

Fair enough that you are not planning to sell, yet I also believe that there is another problem in which newbie bitcoin accumulators might become discouraged or caught in a dilemma regarding BTC prices continuing to go up... so yeah, sure there might be excitement that the accumulation that had already been accomplished goes up in value (price), yet still the going up in price ongoingly causing dilemmas regarding continuing to buy BTC (as you seemed to have had suggested).. which may well be the better way of dealing with the situation in order to stay in a proper ongoing BTC accumulation mindset (re-enforced by practice).. .

Quote from: Abbatty on Today at 09:11:17 AM

Quote from: CageMabok on November 23, 2024, 02:23:32 PM

Quote from: Roggeredek on November 23, 2024, 06:22:51 AM

Agree with you and @JayJuanGee.

If we look at the past of Bitcoin, we can see that even though the price of Bitcoin has been going down, it has been going up again. It has crossed its highest limit again and again in a few years.

I personally think that even if the price of Bitcoin goes down, it will return to its previous place in a few months.

If you had realized something like this earlier or in the previous few years, I think you could have become the next rich person through Bitcoin investment because in this year alone Bitcoin has been able to print two ATHs and has almost touched the price of $100K this month. So that at least can give a pretty clear picture that Bitcoin is an asset that there is no need to hesitate to hold after buying at any price. And now you can still buy Bitcoin even though the price itself has increased and is quite different from previous months.

A lot of people failed to realize this if not by now we would have more rich people around us but Better late than never some realized earlier and invested while there are still people yet to realize. it doesn’t really matter when you realize what you missed out on because it’s not too late to invest and join. Bitcoin might have achieved some milestone this year but no one knows what he will achieve in coming years although the sooner you realize and invest in it the better.

The sooner the better for sure... to realize and to act.. like you mentioned.

Quote from: Wind_FURY on Today at 03:46:11 PM

Quote from: JayJuanGee on November 23, 2024, 10:01:09 AM

[edited out]

OK, but if we put price-points and technical analysis aside and consider Trump's Bitcoin Strategic Reserve/possibly starting other nation-states to do the same, Chad Saylor's bids/also possibly starting other companies to do the same, and BlackRock/other institutions' spot ETF bids during the current cycle - Shouldn't THAT be enough to make us believe that "never going below $100,000 again" is very possible? Or it's not enough?

Sure.. maybe I remain a bit conservative in my downity expectations, yet personally, I try not to put too much weight on various kinds of macro-factors that may or may not end up playing out and/or getting off-set by other factors, especially when it comes to financial and/or psychological preparations for various possible futures that might happen.

Putting too much weight on various possibilities could lead to behaviors that prematurely eliminate certain extreme outcomes and then leave us ill-prepared to deal with them when they end up playing out.

Sure we don't want to put 20% resources into less than 1% scenarios, yet we should also not want to become overly reliant upon our having sufficient enough information to accurate calculate the probabilities of extreme scenarios.

We likely already appreciate that since bitcoin is such an asymmetric bet to the upside, we do not have to put everything (or close to everything) into such upside scenarios to still be able to stupendously profit if such upside scenario ends up playing out, and in fact we are better of to continue to keep some downside insurance, even if we are starting to come to highly confident beliefs about certain upside scenarios.

I think that a lot of us have come to understand that one of the things that we would like to achieve down the road, let's say 20 years from now, is to still be in the game, rather than having had engaged in some kind of behavior that had the potential to make us rich as fuck, but ended up recking us to such an extent that we had to start over or nearly have to start over.

A certain value comes from preservation of wealth and also preservation of self.

Of course you are free to do what you want, and sometimes it can be worth the risk to bet a bit heavier than usual, yet sometimes it is also greedy to bet more than prudent levels, and sure we are not going to come to the same answers on the particulars, but there still are some scenarios that are a bit extreme, such as when we prematurely conclude that something is not going to happen and we end up overly betting on the upside and under preparing for the downside, and we could have still ended up being rich as fuck with a prudent approach, so why did we need to try to become rich as fuck plus 5, when that extra 5 was totally not even necessary in the first place, except maybe it was just our ego playing or part of some deeper desires to gamble.

Quote from: FatFork on Today at 04:51:10 PM

Quote from: Mayor of ogba on Today at 10:53:07 AM

It is clear that Greg Schoen sold his bitcoin to sort out his daily expenses because the 1700 bitcoins were worth only $510 at that time, so let's always use the money that we will not need for 4-10 years to invest in bitcoin so that we will not sell our bitcoin investment to sort out our daily expenses and end up regretting it in the future like Greg Schoen did.

Looking back, I get why that dude sold his Bitcoin when he did. At the time, cashing out at 30 cents a coin probably felt like hitting the jackpot and honestly, if he hadn't sold then chances are he would've cashed out later on anyway once prices spiked. Even if he was selling at $8 a coin, it wouldn't make any difference from the current perspective.

I mean, it's hard not to kick yourself over missed opportunities like that, especially now with Bitcoin almost at $100k. But beating yourself up doesn't change anything. The past is done. Nothing we can do about it. What matters is what we do going forward. If you wanna invest in Bitcoin, make that choice because you believe in its long-term potential or like the technology or whatever. Don't just chase quick profits. Have a plan and stick with it. Timing the market perfectly is pretty much impossible. All we can do is make the most of the opportunities in front of us currently instead of dwelling on what could've been.

From learning about these kinds of situations, we can see that there are way more reasonable ways of selling your BTC on the way up without blowing your whole wadd... and sometimes folks with small investments get overly excited to take out their initial investment money and then perceive that they are playing with house money, yet in the case of a few hundred dollars invested, the investment amount should not even have been hardly anything to worry about, especially when presumptively any of us are already deciding to get into bitcoin from our extra money.. money we can afford to lose, so we should be more than willing to let our initial investment ride. even though surely even after 10 years, $100 per week might start to seem like a lot ($5,200 per year and $52k after 10 years).

but yeah if we are getting anxious about how much we invested and also how much our whole BTC is starting to become worth, then we can start to pull some out from time to time, including that starting out with 1,700 BTC, there could have had been various points to cash some out.. maybe 100 BTC or 200 BTC at $0.30 rather than cashing out the whole thing and then perhaps another 100 at $1 and another 50 at $8.. and surely there might come some realization that some preservation of the total stash is preferred, so the amount of BTC sold might get to be less and less, and there might even develop regrets about having had sold so many at earlier times, yet at the same time, exercising gradual withdrawal may well end up helping to enlighten about better ways of managing the holdings so that they are sold in a more conservative (and preservative) way rather than selling a lot of the stash or all of the stash.

We have guys in the forum engaging in similar kinds of conduct when they sell large amounts of their stash, and even some of them are expecting to buy back at cheaper prices, which might be more pie in the sky fantasies rather than any kind of practical and realistic way of dealing with their BTC stash.. so from my own perspective, I think that it is way more healthy to consider that any BTC that we sell might not be able to be bought back at a lower price, then we will then be forced into thinking about our BTC in terms of whether we really do want to reduce our BTC stash or not, and if we are o.k.k with that, then by how much (with a presumption that we may well not be qble to buy back anything that we carry out in seling).