Too expensive! They should till Bitcoin gets to $500k then, we're still at the very early stages of Bitcoin therefore anyone considering the price currently is not a very serious person and would miss out on the good opportunity this early stages of Bitcoin has to offer, I used to worry much about people like these and advise them when we cross path but lately I care less about their decisions cause sometimes it always lead to a big argument and I got better stuffs to do than involving in unnecessary arguments, moreover everyone has their choices to make but those that knows the right thing or are willing to learn to do things the right way rather would take corrections immediately they figure out they're wrong, just that some people claim to know it all when it comes to Bitcoin investment and they end up regretting. Yeah, Bitcoin still has a brighter future and since we're still in the early stages, the best approach is to buy at any entry regardless of the price, then implement the DCA method for better accumulation overtime, this waiting game strategy has caused lots of regrets due to opportunities missed well more people would learn with time anyways.
Fair enough. 100k$ is not the destined price rather a milestone which Bitcoin has just crossed. To me 100k$ price is an indication that Bitcoin has the potential to cross 1M$ mark also in future though we can't predict the date. What we are discussing in this thread is that only those people who have adequate Bitcoins may choose to short some of there Bitcoin while rest of us should focus on Bitcoin accumulation. There is a post from JayJuanGee that gives idea about who has adequate number of Bitcoins and may choose to cash out some of his coins and which one of us still need to keep on accumulating.
I am not sure if we can make that general of a statement regarding what a guy should do once he starts to feel that he no longer needs to DCA.. because there can be quite a bit of variance in regards to how much a guy might be cutting out DCA or ONLY doing DCA during certain kinds of BTC price conditions.
Maybe it would be helpful to give a couple of examples?
Hypo 1 (10-year BTC investor who came into bitcoin already with a decently large investment portfolio)
This person might have invested into bitcoin for 1-2 years using DCA method, and maybe even lump sum investing, so maybe has a $750 average cost per BTC, and maybe built up 300 BTC, and so maybe he just plays the waves and feels like he has enough BTC, and accomplished most of his DCA in the first couple years of investing, and maybe will still buy some more BTC from time to time when he perceives the BTC price to be low.. such as near or below the 200-week moving average, other than that he might just be either maintaining his stash and/or cashing out some from time to time.
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