Anyone selling bitcoin to buy back lower (especially around $110k) sounds retarded. The best way to accumulate bitcoin is to keep buying. Another thing is that it can take 4-10 years or longer for anyone to even come close to accumulating a large enough stack, so it also seems retarded to sell bitcoin after 4 years and to treat bitcoin as a trade, unless you happen to be old or you have health conditions that you need the money.
If you build your BTC holdings and hold more than 10 years, then you are going to most likely be in a better place to engage in sustainable withdrawal where you are selling to live off of your bitcoin rather than fucking around trying to sell BTC to buy back cheaper. Sure, if you have reached an over-accumulation status, then you could sell some of your extra BTC, but it tends to be a bad idea (like gambling) to sell bitcoin with an expectation of buying back cheaper, especially if you have not yet reached a status of over-accumulation.
Well said sir jayjuanGee , selling your Bitcoin with the aim of buying back cheaper ain't smart at all ( though you may Think it is a smart move to make but it isn't), because you can't actually tell if the price will dip or not , you may endup selling but at the end you won't be able to buy back cheaper as you anticipated, investing in bitcoin different from trading with your Bitcoin , if you are the type who set his mind for long-term holding in Bitcoin you would be able to invest in bitcoin with the right principle and be patient enough to accumulate till you hit the point of having more stacks, rather than trading with your Bitcoin.
It might not be a smart move given the risk that you’ve got to take in having to buy and sell, you need to be accurate or near accuracy to do this successfully but, it would be great if you could predict the market right.
I tried this over the course of last week, had over $33 worth of Bitcoin on an exchange and took the decision to sell and buy it back when it dumps and I did. Sold at $105k and bought back at $98k. The profit from the sales was just about 0.00004 Bitcoin, it was low but yeah, got an increase from my original buying position. The profit was going to be that when you sell at your initial position, where I sold in the first place, still holding on though, moved it to the wallet.
In my own opinion, it makes no sense trading your Bitcoin for minimal gains, because constant tempering with your stash of Bitcoin might compel you to sell thinking that you can get it back at a lower price which might never be possible again.
Ok let take a look at those that sold their Bitcoin at $69k thinking that they can later buy back, now Bitcoin has gone up to $100k, do you think that Bitcoin will ever collapse to such level? No in my own opinion, so selling and buying back is not the ideal approach that can be used to build a generational wealth because you may miss the big spike in price if you don't have any significant stash at that moment that it happens, so selling and buying back is not ideal too me.