Good plan but why are you not confident it will reach $100k?
If it hit $69k in 2021 and many were thinking it was going to hit $100k then , why won't it reach it this bull run with millions more people now including myself aware and into cryptocurrency?
Yes the probability of it reaching $100k isn’t that high but there many that are skeptical about it. Even though we have more people in bitcoin today and many more to come before the next halving and subsequently the bull run, there are economic crises that could affect it. Aside that even the expensive sale of mining equipment could contribute. Should we also be hit with any saga like those of exchanges then it will certainly affect the price raising negatively. But $100k is certainly achievable as it stands now but also bitcoin is volatile and this Makes it hard to been predictable.
Just wondering what we are all planning to do when Bitcoin does reach $100k - are you selling or are you holding till the 2028/29 bull run?
Everyone has a target for every bull run. Some have invested some certain amount to withdraw after the halving regardless of the profit gain whereas there are others that have there funds in bitcoin and even if a $100k is reach today they wouldn’t be withdrawing. Most of these investors are people that save up their retirement funds in bitcoin and they aren’t move by the halving since they have set out a target of selling in probably 10 more years.
I don’t know why you are emphasizing on this 2028/29 bull run is anything rumored to be happening? Because personally I have a profit target for each bull run and once each is meet I might be withdrawing them to avoid putting my self on unnecessary risk. Although there’s also some that are saved up for longer time target
It is very unlikely that I'll reach to $100k in Bitcoin anytime soon. but If i got there by chance then my plans are simple. I'll utlize them in a way to increase them. I'll probably divide them in multple portions and do various investments and earning with them. including trading, mining and buying selling IDOs. I heard that's very profitable.. i know all these are very risky and i might end up loosing them. but only holding them won't be a smart move in my opinion.
Holding is the safest move in cryptocurrency as it could save one from unnecessary losses and as such it seems like the smartest move to me. The likes of trading and selling IDOs requires one to have more knowledge about crypto and Also to been informed about its happenings every time and this is usually hard for someone new in bitcoin. Whereas holding is just buying low or through DCA method and leaving them off in a secure wallet till they hit the profit target.