Long term investment plan is the right investment plan for an investor. To begin with I have read the posts in this section thoroughly before and most of the posts suggest investing in Bitcoin and holding that investment for a long time. After reading the posts in this section all my misconceptions about investing have been cleared and I now understand that long term investing is a viable investment plan for an investor and I now believe in long term investing.
Those who are new investors buy bitcoin without thinking so much and keep that bitcoin for long time and if possible increase your investment amount you will realize the result at the end of time.
I agree that there are several valuable perspectives here that can assist those who are unfamiliar or confused about how to invest in the upcoming cycle.
Time is running out for accumulating, This statement is not true: "Time is running out for accumulating,"
Sure, many BTC accumulators (especially the more newbie of the accumulators) are likely faced with dilemmas when the BTC price is rising so quickly, yet they likely need to resolve their dilemma in terms of figuring out their own situation, including but not limited to how many BTC that they have already accumulated.
So likely if someone is brand new to bitcoin accumulation, they are stuck in a kind of suckie situation in which the BTC price is going up, which likely causes many of us to recognize how fortunate that we had been between May 2022 and October 2023 to be able to accumulate BTC while the BTC price was going down and also while the BTC price was caught up in extended periods of ambiguity in regards to whether it was going to go up or to go down. So we had a lot of opportutnities to max out our BTC accumulation during those times, even though we may well were feeling bad about not knowing if the BTC price is going to go down further or not.
Now we that we can see that the BTC price has largely recovered from those earlier depressed times, we can feel good about ourselves and our earlier conviction.
Sure, we could still have dips that bring us back down into the lower $30ks, and at the same time, we cannot be completely assured that sub-$30k BTC prices will never be seen again, but there are also possibilities that some of the lower $30k prices and sub $30k prices will never be seen again, so lucky for anyone who both knew about bitcoin during those times and also who acted upon such knowledge about bitcoin to prepare as much as s/he could for UP, without overdoing it... and yeah, maybe some of us wish that we would have over-done it, but it is fruitless to be having those kinds of regretful feelings, because each of us should realize that we can ONLY be as aggressive in our bitcoin accumulation as we are able to be... and there is value in not being overly aggressive, even though at this time we might feel regrets about not over doing it.
If we are new to bitcoin, we just have to figure out our BTC accumulation strategy from where we are at right now, and we cannot be second guessing in terms of wishing that the BTC price will go back down.. because it might go back down and it might not. Therefore, sometimes we have to spend several years .. maybe even more than 4 years accumulating bitcoin before we start to get our BTC portfolio in sufficient profits and also of a significant size, because we cannot necessarily change our cashflow situation in a short time-frame, we have to deal with our circumstances as they are and perhaps continue to attempt to make various improvements to be able to improve our discretionary income in order that we have more money available to buy more bitcoin with that extra money and without necessarily causing ourselves to overly suffer during the earliest of years in accumulating BTC.
and these insights can be beneficial. It's a reality that newcomers often don't start with holding Bitcoin. While they might enter the market because of Bitcoin, they are often drawn to Altcoins. This truth might be uncomfortable for Bitcoin enthusiasts, but it's a sentiment I think many here may disagree with.
Sure a lot of people are drawn to shitcoins, but so what? They may feel that they need to go through such growing pains, and surely they might believe that there are chances to outperform bitcoin, but sometimes they have to go through those stages in order to appreciate bitcoin, yet at the same time, I would not be dissuaded from calling them dummies while they are doing it.. in the event that we know such people.
So we can still suggest to them to stay away from shitcoins and not to be distracted, and surely there might be some of them that mostly stick with bitcoin and end up ONLY fucking around with shitcoins with smaller portions of their investment portfolio... but who knows? we cannot really judge in advance, even if we can see that there is an alluring and distracting pattern to get attracted into shitcoins.... but we ourselves can attempt to set a model by staying focused on bitcoin, and even sometimes we are going to look foolish, or too conservative, or out dated.. and so time will show.. and there are no guarantees that some shitcoins might have various extended periods of outperforming bitcoin.
Having experienced two cycles, I understand that for long-term goals, holding Bitcoin is a solid strategy. However, I'm not too rigid in my approach. I don't overlook the rest of the market and still allocate a small portion of my capital to invest in other opportunities. It's about finding a balance and being open to various possibilities in the ever-changing crypto landscape.
Yeah.. but so what.. fuck shitcoins and fuck your assertion that there is any kind of need to diversify, even if you personally engage in such practices. You can talk about (and pump) those kinds of practices in some other thread rather than devolving into off-topicness here.
I may not prefer using DCA as a strategy for buying Bitcoin
DCA'ing most not be for everyone but to those who are yet to take a final decision to buy at a go without having the mind of doubt that it may go dip or higher at this point such person(s) may decides involving themselves with DCA. Then if you think the price won't come down or won't dip anymore and you have the available funds to invest then buying at a go is also better because if you don't buy at that point you would end up regretting maybe you have to wait till further noticed when bitcoin price dropped to price you missed.
Lets take for instance, first week of last 2 month if someone purchased a bitcoin at a go without doing DCA don't you think such person could have made about 5 to 10 percent of their investment? Yes this is true but the person who is doing DCA may not have that profits because s/he ends up accumulating very little fraction of it.
I think this DCA strategy of Bitcoin accumulation is
mostly adopted by low-income earners because it will guide them to accumulate Bitcoin at different prices and the DCA strategy will also control the volatile part of Bitcoin in their Bitcoin holding.
This statement is not completely true: "mostly adopted by low-income earners" even though practically there are advantages of DCA for people to manage their cashflow as it comes in, whether that ends up resulting in weekly, bi-weekly, monthly or some other interval of BTC buys. I personally recommend more frequently such as once a week, even though there can be ways in which it makes sense to buy somewhat erratically based on how cashflow comes in, so for example, if your cashflow is already projected for the next 6 months then you may well have expectations of certain amounts of cash coming in and certain amounts of expenses coming due and even perhaps a certain leeway of cushion in regards to how much cashflow and expenses might end up varying from the projections.. so that when it becomes clearly determinable that you have some extra cash that is available, then at that time, you may well decide to buy bitcoin with it right away, or perhaps have a kind of formula in which you buy half right away, and maybe once a week or twice week you compare your cashflow/expenses projections to your actual cashflow/expenses and you make a BTC purchase based on the extent to which there is a difference between the projection and the actual. That is not just a strategy for poor people, but it is a strategy that anyone can employ, even non-sophisticated people and more advanced investors could end up employing sufficiently long term strategies of DCA accumulation because they believe that easing into a position works more to their advantage rather than lump summing (or maybe if they might sell out of one position to get into another, in some circumstances, DCA might make more sense than employing such a lump summing kind of an approach).
Also, the DCA strategy will allow them to freely invest in Bitcoin without having difficulty solving their financial issues because they are investing 10% of their salary in Bitcoin weekly or monthly.
This part makes sense... but it applies to poor, rich, unsophisticated or sophisticated. Sometimes people try to talk down DCA because they believe that they are more sophisticated and advanced and blah blah blah. they know what they are doing, and surely sometimes it might make sense not to DCA, and it might make sense to lump sum into an investment, but even if there might be choices to lump sum, there also can be choices to supplement such lump summing with DCA and/or buying on dips.
Right now, and at this moment in which the BTC price went up from the lower $27ks to the mid $40ks in less than 2 months, which is more than a 60% price appreciation during that time, some newbies to bitcoin might feel kind of overly whimpy because they might have had decided to get into bitcoin with a pure DCA approach in August, September or even early October, and then all of a sudden they realize that they would have had been way better off if they had lump sum invested into BTC and perhaps supplemented with DCA.. rather than starting out with DCA and then having a lot of extra cash that was sitting on the sidelines that did not end up getting deployed at the lower prices.
Sure, there is not a lot that any of us can do about seemingly major BTC price moves that eng up seeming to come out the blue, except to always attempt to be prepared for either BTC price direction, but not to forget to make sure that we are prepared for UP, especially if we are new to bitcoin and we hardly have any BTC at the time that we start... once we are in for a while.. one year, two years, three years, four years or longer, we likely start to feel that we have had a long enough time to accumulate BTC, even if we might have had ended up making various mistakes along the way and sometimes feeling that our average cost per BTC is a bit higher than it should have had been.. but sometimes the average cost per BTC does not make as much difference as making sure that we are sufficiently aggressive in our stacking in our earlier years of stacking BTC.. that is if we are capable of accomplishing such.. and surely there are some categories of people (such as students and persons in their earlier years of their career) who may well not be very capable of being aggressive in their BTC stacking strategies in their earlier years of BTC exposure.
[edited out]
I don't think JJG had a problem with my earlier post where I said I was buying with 50% as lump sum, 30% DCA and 20% dip. He was even in support of the approach provided I have my emergency funds available. I think it was you that didn't properly understand my initial analysis.
Of course, we have a lot of latitude in how we choose to invest into BTC, and I think that would be my main concern with anyone who is going to approach BTC in what seems to be a more aggressive than typical way is to make sure that they have a pretty solid emergency fund.. .. So in other words, the more aggressive that we are, the more important is that our emergency fund is solid.
True, all individuals have freedom in terms of choosing the way in the investment approach they will take on Bitcoin, there are no restrictions and no one regulates you except yourself, whether you will be aggressive or remain normal as usual in your investment approach basically it is all up to you and your own choice which means only you yourself know what is best / safe for your journey of involvement in bitcoin. On the other hand for those who act aggressively but do not have a good balance or finances in their finances it seems that I would be a little suspicious of them in terms of the purpose of their arrival.
Some of them are engaged in gambling and not really realizing it. Many people make mistakes from the angle of believing that they are employing investment strategies, but they have not sufficiently figured out their own finances and psychology to a high enough level in order to really be investing, so they end up devolving into gambling strategies without realizing it.. and sure, no problem, sometimes we can still end up getting it right or learning from the mistakes of our earlier strategies that we mistakenly thought were investing rather than gambling...
In other words, sometimes the mistakes are not so severe as to totally wipe someone out of a position, but instead merely cause them to miss some opportunties or maybe have to suffer through eating Ramen for several months because they fucked up their finances and they have to get back to a position in which they are able to return to living normally rather than having to endure extended periods of suffering. Sometimes the mistaken gamblers can recover after a few weeks or even a few months, and others might have to take years to recover from their mistakes.. maybe never really completely recovering but at least able to get back to a position in which they are able to live above their earlier standard of living expectations.
On the other hand, aggressive has the equivalent of excessive, and something that is done excessively usually has a goal that makes less sense behind the scenes, and if there are some who are involved in bitcoin bringing scenarios like this it looks like they want something instant or the meaning of reciprocity that can make them feel satisfied in a short time.
There are matters of degree to any of these matters in terms of what might be sufficiently aggressive versus what might end up being excessive, so it might not even be clear about whether any of us might have crossed over the line until maybe the BTC price moves against us or even moves against us for such an extended period of time that our earlier mistake in which we though that we were merely being aggressive shows itself as having actually have had been excessive.. so we cannot always know in advance, even though the more experience that we have, the more likely that we are going to both be able to prepare for extreme scenarios in which the BTC price moves against us but even to be prepared for scenarios in which it might move even further than the extreme scenarios that we had considered to have had been not very likely to happen.
Can you achieve the results according to your expectations?
I personally believe that it is better to prepare for ranges of scenarios.. so for example, there might be a kind of base case expectation, and then on each side of that there are better and best case scenarios on the one side and bad and worse case scenarios on the other side, so surely we hope that our base case scenario plays out but maybe we prepare ourselves as if the bad case scenario might have higher chances of playing out than it actually does, so if the base case, better and/or best case scenarios end up playing out, we are still prepared for them, but we are not financially and psychologically invested in such a way that the better and/or best case scenarios have to play out in order for us to survive, and maybe even in the bad scenarios we are still profiting and maybe even in the worst case scenarios, we are limiting the amount that we would lose, so we are still prepared for all scenarios, even though we have the various scenarios floating in our projections about what might be the likelihood for each of the scenarios to play out while at the same time are we financially and psychologically prepared for any of the scenarios to end up playing out.
These kinds of multiple scenario preparations are possible, even though many times people have difficulties figuring out how to prepare themselves for a multitude of scenarios and directions at the same time.. but it is possible to accomplish such... which is also part of the amazingness of BTC's historical performance that has good chances of continuing. even though not guaranteed, and part of our ability to prepare for a variety of directions is based on position size and NOT overly leveraging (and perhaps not leveraging at all.. leveraging is not necessary, even though it can be a more advanced tool that might be used if cashflows and resources are sufficiently buttressed to be able to employ such leverage without excessive risk).
yes maybe but do you have a very good understanding and knowledge of bitcoin?
Knowledge of bitcoin is ONLY one part of the formula... See
my outline of 9 factors to consider.. you see that knowledge (or view) of bitcoin as compared with other possible assets is only one of the 9 matters to consider.
maybe yes and maybe no, planning and behavior like that makes me keep a little question mark.
It is true that people do ultimately need to come to their own conclusions in regard to what to do and how to do it, and they may well end up having so many hours that they have to engage in their regular work, and maybe they have some family obligations, and they also might have some needs for recreation and fun, so when it comes down to spending many hours on figuring out their own personal financial matters as how it relates to bitcoin, they might still be spending 4-10 hours per week on bitcoin, and they are still feeling like they cannot really keep up, so they end up mostly blindly figuring out a good enough approach that involves choosing their DCA amount.. maybe it is $100 per week or maybe it ends up being some other amount or even having some fluctuation within it, and surely they might also realize that either once a month, once a quarter, twice a year or maybe once a year, they have to spend more time reviewing their strategy and figuring out the extent to which they might be able to tweak it in one direction or another, but they might still feel that they are in a position in which they are limited in how much more planning that they are able to do in regards to how much they are already doing just to keep up with the basics of following the news and perhaps making some monthly tweaks to their finances while keeping the rest of their life in a sufficient level of order..
Another thing is that I quite agree with your idea @JJG that if we want to do a fairly / very aggressive way of approaching bitcoin that means we must have something that can sustain our real life or that means having prepared an emergency fund that will keep you okay during your involvement in bitcoin, and do not let your aggressive approach not be the result of careful consideration beforehand because obviously it will only worsen your situation and living conditions.
The more that we are able to spend time planning and assessing, then maybe we are then able to act way more aggressive, perhaps spending $200 per week on BTC rather than $100, but if we have a lot of other obligations and we are not quite sure about how aggressive that we are able to be, then it might be much better to invest only $100 per week or even $50 or $10 per week rather than to end up over doing it because we did not have enough time to really get into some of the details of reviewing our financials and our psychology.. in such a way that we could afford to push limits.
Congratulations to all Bitcoin holders on what is happening in the market now. Do you know what interesting feature I noticed?
Since October 9, the weekly chart has not recorded a single red candle.
hahahahaha
You are right.
I had not even noticed that so far we have 8 weekly green candles in a row, and yeah, I recall spending quite a bit of time talking about how many weekly green candles that we had in a row during various historical periods. Surely you can go back and make those kinds of comparisons, and you will likely see that there are certain limits to how many weekly green candles tend to come in a row.. there will frequently be some correction (or red weekly candles) in the middle of some of the longer streaks of green candles, and even sometimes there will be a long streak of green candle, and then one or two weeks of red candles and then a resumption of many green candles in a row. I am not sure how much we can determine from this, except sometimes we do end up getting nervous about whether the green weekly candles can continue and/or if they are sustainable...and I am not claiming to know the answer, even though surely it sometimes can be a good dynamic to watch. and to count them.
Recoilless growth - all candles are green. On October 9, the price was 25k.
1) And it’s interesting that in 2020 something similar happened: from December 20, BTC went from 19k to 42k, and only then did it begin a correction (remember that I’m writing on a weekly chart)
2) And in 2017 also: from November 20, the non-recoil growth was 6k to 18k.
You might also may want to look at from April 2019 until June 2019.. there might have had been a few red candles in there, but we did have 3 months of price rises to 3.5x from right around $4,200 on April 1 until the $13,880 at the end of June. It might not have had been the longest streak, but it is a fairly modern times good example of a kind of price rise that ended up playing out while at the same time being somewhat unexpected and recking a lot of shorts, bitcoin naysayers, shitcoin coin pumpeners, and fence sitters.
Following this logic, the price is now flying to 50-75k.
We need to be careful when extrapolating this kind of information... because it becomes problematic to just shoot past the previous ATH... especially if we are starting at a base that is less than 1/2 of the current ATH.
Sure it is not impossible, but I would not get too worked up in terms of expecting low chance events to play out.. even though it does not hurt to be prepared, just in case, as long as you are not putting too many eggs in that basket.
Maybe this is due to the fact that Christmas optimism awakens in people during this period, I don’t know.
I doubt it. Bitcoin gives less than two shits about seasonality, but surely we have money printer dynamics that are going on since early 2020 and not really stopping, we have some ETF approvals that seems to be looming (and quite likely), we have the upcoming halvening, and we have some history of overly correcting in terms of the levels of scams and likely suppression of the BTC price in mid-to-late 2022, with surely some recovery from that even in 2023, even though the BTC price was still likely somewhat suppressed throughout most of 2023 (since it spent a lot of time below the 200-week moving average), even though people were talking about bitcoin as if it were a mature asset, and surely it is not.. surely bitcoin has a kind of price dynamics that includes stock to flow and 4-year fractal, but likely more importantly, exponential s-curve adoption based on Metcalfe principles and network effects (as outlined by Trace Mayer). So it seems a bit ridiculous to be treating BTC as if it were a mature asset class, when it is not... and so too bad for the so many people that remain no coiners or low coiners, and they could surely advantage from owning some bitcoin in times like this, even though an overwhelming majority of the world's population had little to no exposure to BTC prices.. in terms of direct or indirect ownership.. only in terms of macro-dynamics which is less likely to advantage them on a personal financial level..even though they likely get benefits from the actual existence and the power of bitcoin.. just not personally in a financial/psychological way of owning some of it...
I understand that the Internet is full of similar observations, but I want to believe in the price increase, it was a difficult year and all BTC holders deserved a small miracle
2023 turned out to be quite bullish.. so yes, it seems that frequently even the more bullish years in bitcoin end up being riddled with simultaneous drama to try to talk people out of their investment in bitcoin, and too bad for the folks who get diverted away from bitcoin by 1) failing to take a BTC position, 2) taking a whimpy bitocin position or even 3) selling some or all of bitcoin that they previously held.
No matter what we choose to do we must make sure that our daily life is not affected so we don't have to tamper with our investments before maturity date.
That is one of the dilemmas of bitcoin, since even if we are taking positions that we believe to be reasonable, our personal lives are going to be affected by diverting our funds into bitcoin rather than being able to spend them - even if we are merely taking $10 per week to buy bitcoin, and in your case Justbillywitt, if you are really investing between 30% to 50% of your cashflow into bitcoin, you surely are going to be negatively affected in a variety of ways in terms of sacrificing consumption for today for the possibility that you are going to end up in a better financial and/or psychological position in the future based on your financial (and perhaps consumption) sacrifices earlier in your investing into bitcoin.
On the other hand, aggressive has the equivalent of excessive, and something that is done excessively usually has a goal that makes less sense behind the scenes.
I don't really understand what you mean by excessive here, are you trying to say that there is something called excessive investment?
Of course nara1892 is suggesting that there are possibilities that you Justbillywitt might be going beyond what would be reasonably aggressive or sufficiently aggressive, yet surely that is for you to make those kinds of determinations for yourself because we might not be able to determine the extent to which you might have had gone overboard and/or if you have determined your emergency fund to be enough when it ends up not being enough under certain circumstances that could end up playing out. Frequently what happens with emergency funds, especially if they are really adequate, they end up never being needed or used because part of the definitions of a robust emergency fund would be that it would take some hell-of-a-crazy ass circumstances before it would end up getting seriously depleted, so for example you may well continue to be able to buy BTC at $100 per week, even while you are going through an emergency because your reserves are so great and you have your various scenarios within your expectations of things that could happen.
I have known members who had thought that they had gone into fuck you status, so in other words they thought they they were retiring early, but if they do not know how to valuate their BTC holdings, then if the BTC price ends up correcting 70% pr 85% and they are not able to stay in fuck you status, then surely they have not valuated their BTC holdings with the right standards... and they have not really prepared for situations that were not that unlikely from happening, even though their preparations might have prepared for severe downfalls in the price, but maybe they only prepared for a 50% drop in price and not a 70% to 85% drop in price. Similar kinds of lackings of preparation can take with an emergency fund that is not sufficiently robust, but its weakness is not really appreciated until under some severe stresses, and some stresses are more predictable than others, but once in a life time events probably should not be happening very frequently, unless sure maybe you end up in a life-ending kind of accident that ends up completely robbing you from your income and causing great expenses and maybe that would be the kind of incident that would cause you to have to cash out your BTC because your emergency fund was not expected to cover that kind of a situation.
I haven't heard of that. We all have accepted the fact that aggressive investment is fine provided that the investor has efficient emergency funds readily available. I don't quite agree with you that aggressive investment in Bitcoin will make the investment excessive, as there are no scale to measure it to know it it's excessive or not.
You are correct Justbillywitt. You are the one who has to measure the extent to which you are merely aggressive or if you might have devolved into excessiveness. Your mere assertion of investing 30% to 50% of your income into bitcoin might appear excessive on its face, but if you otherwise have your shit together, it is not necessarily excessive, even though it may well be aggressive under many kind of scenarios, but yeah, we have already determined that there is nothing wrong with managed aggressiveness..even managed over-aggressiveness...
but don't come crying to us, when you lose all your bitcoin in the event that your managed aggressiveness or your managed over-aggressiveness ended up being excessive.
Fund adjustments must be thought out as best as possible so that chaos does not occur when our economic situation experiences a downturn at some point. Therefore, they have certainly thought about planning and saving emergency funds or untouchable dead funds. And in my opinion, whether they act aggressively or not, the important thing is that they can Holding and that is the most important thing at this point.
It is much better to end up surviving 10 years down the road with 1 or 2 bitcoin rather than trying to get 4-5 bitcoin but then ending up having 0 BTC (or maybe less than 0.25 BTC) because you spent too much time taking too many chances that ended up coming back to bite you in the ass. Living to fight another day is important.. including securing your coins rather than keeping them on exchanges, even though I don't have a problem keeping some coins on exchanges for beginners and even more experienced bitcoiners who might have 5% to 20% of their bitcoin on exchanges from time to time.. but generally we probably should not be keeping very much of our BTC on exchanges, perhaps less than 10% is a good rule of thumb, but if we are brand new to bitcoin, maybe we have all of our BTC on exchanges until it gets to a certain value. .whether that is $1k or maybe even $5k.. and also depends on other wealth that you might have, if BTC is your only investment into anything, then you might be putting yourself at more peril to hold very much of it on exchanges rather than figuring out some secure ways to self-custody it... which can also run into peril if you end up putting your self-custody coins on some scammy device or something that you don't really know how it works or you don't properly safeguard and protect your private keys.
Since October 9, the weekly chart has not recorded a single red candle. Recoilless growth - all candles are green. On October 9, the price was 25k.
1) And it’s interesting that in 2020 something similar happened: from December 20, BTC went from 19k to 42k, and only then did it begin a correction (remember that I’m writing on a weekly chart)
2) And in 2017 also: from November 20, the non-recoil growth was 6k to 18k.
Following this logic, the price is now flying to 50-75k
Believe me all this analysis and speculation, using the past movement and comparing currently might turn out to be true or not, the main idea to understand is doing what we have to do so as to remain in the safer side, do what is necessary and allow the market flow in its owner manner,
I believe it always turn out well to those who keep believing. I think that I know what you are saying here, but ultimately we should realize that our beliefs are manifested through our ongoing actions, which could be ongoingly buying BTC, but surely sometimes we might get nervous about ongoingly buying BTC, so then we still are faced with a dilemma in which we have to assess how long we have been stacking sats and how many sats have we accumulated. Accordingly. do we keep buying or do we pause or do we make any other adjustments, and so in that regard, we have to have some ways in which we anchor our beliefs into where we are at and where we would like to go and questioning the extent to which we know if the BTC price might go up or down, but we still may well be in a place in which we either continue buying $100 per week or maybe we end up splitting $100 per week into two parts, buying $50 per week and using the other $50 per week for buying on dips.. or maybe we realize that we might get worried about whether we might regret any kind of a reduction of our DCA.. even if some of our current DCAs are getting us way less (nearly 60% less) than the amount of BTC that we were getting or the same dollar value a mere 2 - 6 months ago. . but we might not have many more options, and maybe we don't even feel like working harder or more hours or reducing any of our expenses anymore than we already had done, so we just have to deal with the cashflow that we have.
There is still more greener candles to experience as this is just the beginning of our success story in Bitcoin , our goal is to hit a new All Time High
That could justify continuing to buy without really worrying about the recent BTC price increase.
I understand that the Internet is full of similar observations, but I want to believe in the price increase, it was a difficult year and all BTC holders deserved a small miracle
For sure, all Bitcoin owners deserves a miracle because these are the same set of person who keep believing and remained positive all out the time Bitcoin was down, they say “One good turn deserves another” it is now the time for Bitcoin to play his role and reward those who kept the believe.
Who knows?
Many of us consider that the bull run is likely coming in late 2024 and into 2025 - but surely there can be no real way of knowing, and just perhaps not get too worked up about various scenarios that could throw off the pattern in one direction or another, but there could still be a plan to accumulate 0.5 to 1 BTC in 5 years, but then if the BTC prices are going up so rapidly, there could be some concerns about if those kinds of goals can be reachable, so then the goal could just end up getting adapted in terms of the amount of dollars invested and not really having strong ideas regarding how many BTC might be accumulated in the next 5 years.
[[edited out]
Now that we are already on almost 45k, then how those people had been waiting for those price dips or corrections? They do just make themselves getting behind and now for sure there would really be some mix of regret on why they havent really been able to buy while its still cheap? This is where usually people do make out some purchase on the time that they get fomo'ed.
Somehow it is really just that so easy to say on buying the dip and hodl on which it would really be that not that simple if you are already on such situation.
I personally get the sense that FOMO is more likely in circumstances in which people were overly whimpy in their BTC accumulation, so if someone was attempting to be aggressive, then s/he will realize that s/he did as much as s/he could under the circumstances...
Now on the time that we are already almost 45k.Then whats next? We might be assuming now that there might be some correction later on but we cant really deny
the fact that deep inside we are really that eyeing for the price to shoot up @50k on which it is really that something a common approach to have.
I have a hard time imagining that there wouldn't be some kind of a correction prior to reaching $55k, but who knows. WE cannot really know with any kind of certainty. We can merely attempt to prepare ourself for a variety of scenarios, whether they end up playing out or not.
How about you? what are you doing to prepare yourself? You have been registered on the forum for quite a while (since early 2016), so surely you have personally had quite a few opportunities to prepare yourself in the last nearly 8 years being registered on the forum, so right around 2 full cycles. We could go over your DCA numbers, but maybe that is up to you to figure out if you want to say anything regarding if your own personal approach has at least come close to matching a DCA approach over 8 years.
Even if Bitcoin becomes $250k it will still be affordable to those who know how to place their tenth around bits instead of focusing on the whole 1 unit worth of Bitcoin at once which at that point may be seen to be too expensive to achieve at once, the awareness of this approach of accumulating in bits when the price of Bitcoin become overly expensive with trillions in market cap, it will not eradicate the DCA approach and at that point, small bitcoin investors/accumulators are only left with the choice to bounce back on bits as the main mechanism to accumulate bitcoin at that point.
Personally, I prefer referring to either bitcoin or to satoshis, and I find several of those intermediary units to be confusing, ambiguous and likely not even necessary.
Such a price is much farther away from us for now, even though, bitcoin has shown some sign of that happening unexpectedly, but then also we should bear in mind the ability of Bitcoin to do such a price in the next few years from now, but until then, let us focus our analysis on the current market condition and how best we can take advantage of the price to make some DCA profits now that the price is moving towards $43,500 many of those that bought Bitcoin at the last discount price of below $20,000 are now in massive gains by now and that is the advantage of making the right decision to invest such money into Bitcoin and at this stage, Bitcoin is already doing well with how itself as a great financial tool have been able to be less predictable so for sure opening a buy position at low price is the most sort after mechanism because buying Bitcoin at discount price help you reduce both your waiting time and also lessen your risk.
Surely, $250k per bitcoin is not guaranteed in this cycle, but it seems quite within the realm of reasonable reach for this cycle, and if anyone is somewhat new to bitcoin, then I am not sure if BTC going to $250k in this cycle would make much difference if they are ongoingly accumulating BTC, yet surely many of us realize that it is better to be able to buy more BTC for cheaper prices, but sometimes we don't really have much choices in terms of our current cashflow and we might not be in a position to change our cashflow very much in the short-term (to either increase income or decrease expenses)... sure some of us can, yet some of us might not be in such a position to be able to meaningfully and significantly change our cashflow in the relatively short to medium term.
