i have one
Well, the mere fact that you would sell your bitcoins if you had one, demonstrates why you do not have any because you would have likely sold at $1k, too, and therefore you are not enough of a believer in the lovely thing, aka bitcoin.
In essence, you have to learn to love and cherish and cuddle and HODL your bitcoin for a while, and then after you have done that for a considerable amount of time, then you become more appreciative of the power of HODL.
I wish I could stroke my Bitcoins. Maybe read them a good-night story before bedtime.
EXACTLY!!!!
That's the right mindset.
I would not suggest NOT to sell any BTC, but the quantity that you HODL should vastly outweigh any portion that you sell, and any selling should be merely to: 1) provide some insurance for likely downswings in BTC prices, 2) allow some buying back of bitcoin with the fiat accumulated from sales and 3) perhaps take some of the fiat off of the table after you have accummulated a lot of it and you have been sufficiently, satisfying your goals in the 1 and 2 categories.
Another scenario would be that if you are contemplating that you do not have much time to live and you have more bitcoin wealth than would accommodate that anticipated period of living, then planning a reasonable draw down schedule would be prudent.
I actually wobble around 70~30 to 50~50 between BTC and alts (for my crypto portfolio). There are some projects that I'd like to keep tabs on (love the ideas and teams), but at the same time I want to make sure that I'll have enough Bitcoins for when they're the go-to currency in the future.
As far as fiat goes, I wouldn't keep any more in my bank account than I'd need for immediate expenses (bills, and perhaps an upcoming and planned holiday). Some in stocks, RE and gold just for good measure.
I wouldn't really go with fiat investments without having a high net worth though.
Young people especially should just throw however much they can burn without getting hurt at Bitcoin, they've got their entire life to catch up in case of failure after all, and the upside potential is just far too high to not take the shot. And anybody with a fixed income should probably consider toning down on their consumptions to get in as well. And even in the case of a failure one would learn a whole lot about finance in the process, which would make the lesson worth whatever price tag.
The only regret that I have is that I didn't load up on physical Bitcoins when they were dirt cheap though.