This your analysis or point really shows how crazy the difference can be over time. Selling 28.5 BTC for a car back in 2016 might have felt smart at the time, but now, That same stack could have changed his whole life. It’s wild to think about. He traded something that could’ve made him a millionaire for a car that’s probably not even running anymore.
And to be also be honest with you, I also did the same thing, In my first year I sold a chunk of my Bitcoin, both the gains and some of my stash, and spent it on things that honestly didn’t even make much sense. At the time it felt good and it felt like the earth was just spinning around me alone, but looking back I wish I had known better. Once I really understood what long term holding means I was able to chill and stop making those quick decisions. It’s all about learning and growing right thou ......The hardest part is staying patient when the price goes up. People see green and want to take profits, but if you treat Bitcoin like long term savings it changes how you think.
Yep. I am not really sure how any of us can make sure that we have the right mindset because it can become quite tempting to sell and to take some profits, and the guy may have had sold the 28.5 bitcoin with around 2x profits.. so he was selling out of profits since maybe he bought the coins at $350 or less... then at the same time, he just took for granted the significance of his having had accumulated that many coins...
And currently we have guys who may have had bought a lot of coins in the $17k to $35k prices through 2022 and 2023, so they might not even realize how valuable it is merely to have had accumulated so many bitcoin at those prices, and so some of them were selling their bitcoin at around $100k, so they ended up getting 3x and 4x profits, but then they are never going to be able to accumulate the quantity of bitcoin that they were able to accumulate in 2022 and 2023 for the amount of dollars that they put into their investment.
We have seen that so many times in bitcoin, and guys are not able to come even close to buying back the quantity of coins that they ended up selling, and they don't realize how difficult it will be to get that quantity of coins in the future.
It is hard to see while we are in the midst of the price, and even our current prices could well end up being really good when it comes to a few years down the road, and even 5-10 years down the road, and right now we can accumulate as much bitcoin that we want at the current $117k-ish prices.
I've read comments like this consecutively. It seems the market dips and fluctuations isn't the only problem after all. After a beautiful long term holding plan some may feel fulfilled and go ahead to selling off their entire bitcoin stash with one order probably because they got a 2x or more. Which is why staying around those with the right mindset can also influence your decision to suit you the best way it can. If only they had stumbled upon your
may they would have understood how to make withdrawal following the 200WMA and the calculations for the amount to be withdrawn each month using a fair conservative rate. With a 6% conservative rate it would take 16 years for one to fully withdraw all the bitcoin in his stash. However this gives us a leveraged ability to also make extra profits if bitcoin continues soaring for this 4 cycle without regretting our decision of selling off some bitcoin unlike those who happen to sell everything or more than half the size of their bitcoin portfolio.