~snip
So much to talk about on here. Let me drag your attention towards the current price of bitcoin now at $85k. Possibly moving toward reaching $86k by the end of today. It bothers me to see a lot of speculation from some folks who claim they knew we were entering a bear season when the price fell below $75k. Undoubtfully i knew it was only but an opportunity for us to make good use advantage of the dip. I am glad i had some reserve fund kept for this purpose ever since i learned the purpose of having one last year from this thread. This is actually the best dip I have bought since I started accumulating my bitcoin and i guess you too took advantage of the dip or perhaps you have reached your goal before now.
Since about 2017, I have not really been adding too much new money to my bitcoin investment - except from time to time when there might be some unusual and/or prolonged dips.. so yeah, I am probably not a very good example in regards for so many guys that are still in their early accumulation stages, and surely many times my comments are aimed at attempting to helping guys to get to a stage that is similar to me, which I believe that involves ongoingly accumulating bitcoin until the size of their bitcoin stash might inform them that they might be able to transition into either a maintenance stage and/or perhaps some form of sustainable withdrawal stage that involves price and/or time based withdrawing.
I don't know why some folks are blind to see that Bitcoin presents us with a lot of opportunities, one that rarely comes.
Yep. Since ONLY about 1% of the world's population own bitcoin, there are a lot of folks who are failing/refusing to make sure that they have bitcoin as part of their life. It is amongst the best of possible opportunties that is available to anyone and everyone all around the world... but so many folks are either failing/refusing to take action to buy bitcoin or even to research into the bitcoin matter in order to inform themselves' better about what bitcoin is and what opportunities it is providing them.
Yet, they don't take the chances when it come and at times, they are not prepared which is why they are still far from their goal. Although it shouldn't be a problem as they buying on dips is not actually the primary method of investing. It is only a backup method to aggressively reach our target faster.
I will agree that even if some folks employ inferior or perhaps even whimpy practices in regards to their bitcoin accumulation, they are probably going to put themselves in a better position by their having had at least gotten off of zero.. so it remains better to have some bitcoin rather than none.
What do you think about the dip last 2 weeks did you take advantage of it my friend?
Within my maintenance system, since 2015, I have been selling as the BTC price goes up and buying as it goes down, so yeah, I buy bitcoin regularly on dips. My way of selling has evolved through the years, and I think that I first was selling close to 10% of my stash for every time that the BTC price doubled in price, and these days I probably sell less than 3% of my stash for every time that the BTC price doubles.
I largely had concluded that I had reached enough bitcoin in 2014 when I reached 10% of my investment portfolio in bitcoin, yet with the BTC price staying stagnant, dipping and failing to go up through 2015, I continued to accumulate bitcoin through 2015, so then my bitcoin stash reached about 13.5% of my investment portfolio size, so then I considered myself to have had reached a state of overaccumulation.
Whatever I was doing between 2015 and 2017 in regards to my selling of BTC (which I largely consider to be
price-based sustainable withdrawal) did not really significantly reduce my bitcoin stash, since my bitcoin stash was still around 80% of my investment portfolio size in late 2017, and then during the 2018 dips and even the dips in late 2019 and even in March 2020, my BTC holdings never did get below 45% of my total investment portfolio, and so I have always felt overallocated in bitcoin since I don't engage in reallocation behaviors and I largely let bitcoin ride as an investment, and I have frequently considered that I am able to live off of my various non-bitcoin investments, so bitcoin is largely providing extra value.. and so any BTC buys that I make are largely within some variation of the system that I have been following since 2015.. which largely my buys had been about every $3k from $98k down to $77k.. which would have had been $98k, $95k, $92k, $89k, $86k, $83k, $80k and $77k.
Just to emphasize the point, I personally believe that guys should not be trying to employ my price-based sustainable withdrawal system until they have reached a status of overaccumulation which would justify such employment of such system, which to me largely means that any sales that I make are not for the purpose of buying back bitcoin, yet if the BTC price does end up dropping to certain price points, then I will use proceeds from my earlier sales to buy back bitcoin with those amounts.. but from my perpective, the point is getting to an overaccumulation status, first.