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You're right that it can be very very challenging to attempt timing the market and trying to outsmart the cycles. I know a lot of folks who actually think they can buy low and hold during the highs, but this approach is even more difficult than it sounds and can be pretty tough to execute perfectly. A more reliable way to accumulate a sizable amount of Bitcoin remains to prioritize and engaging in consistently accumulating Bitcoin over a whole cycle or even more.
When we are in the midst of building our bitcoin holdings it can be difficult to know if we are doing the right thing or not, and you can imagine that poor people are likely not used to accumulating so much wealth, and so they might already start to conclude that they have enough or more than enough bitcoin and they have not even hardly accumulated 25% of their annual income into bicoin, yet it still seems like a lot of money for them to have so much in one place, and they are not used to having had accumulated so much wealth in their whole life, and it is ONLY 25% of their annual income, and maybe it took them 2 or 3 years to get to that level and they feel really rich.. even though it would likely be better for them to keep accumulating until they have invested a whole year or more in to bitcoin.. .and no I cannot really determine for someone else how much is enough or more than enough.
I do know that my standards are different right now as compared to what they had been in 2014 and 2015 when I was starting to come to the conclusion that I had accumulated enough or more than enough bitcoin.
I share in your thoughts about the challenges of determining when one have accumulated enough Bitcoin, especially when the person isn't really used to having sufficient wealth. The feeling of having enough wealth can actually be subjective, and could be mostly influenced by a person's current financial situation as well as their past experiences too.
I think it's also very interesting that you've also mentioned the psychological aspects of wealth accumulation, especially those who are relatively new to Bitcoin investment. It can be both exciting and also intimidating seeing a significant amount of wealth piling up in your custody, which could potentially lead some people into believing that they've actually reached their financial goals when in reality, that is not actually true.
Sure, people's standards and goals can indeed switch and change overtime and your point about that is well taken. The more people advance and gain more experience and knowledge, their perspective or thoughts on what the term enough actually means could potentially change dramatically, and the time factor also plays a very vital role in this too, what people considered as a fortune today would not really appear to be the same in a couple of years to come. Which is why everyone should consider setting very clear financial goals and have a well thought out long term investment strategy as this can help individuals stay focused on their long term objectives and also avoid making impulsive decisions based on the short term fluctuations of the market.