Topic: How to go about this ?... (Read 150 times)
This is perhaps the worst part of these investments. it requires stamina. we need to be patient. Many investors also have panic attacks. We even witness that they sell for half the price of what they buy. I congratulate you. we still have to keep waiting. we can see even better days.
If you are on the business of buying and hodling at different rates then you should keep a spreadsheet for your purchases to track what you currently own, the amount you bought, the prices that you bought them, and if you are a speculator then you might want to add the projected profit of what you bought. I find spreadsheets a good way to organize things and affairs especially those that involves numbers which can be really difficult to deal with. Some might disagree but I am using it and it is a good thing that I am using it.
Perhaps, you can just hold your bitcoin and don't do anything except receive and buying bitcoin, and you should determine when you should stop buying. In this matter, you are making a profit when the price increase, especially if you sell your bitcoin at more than $50k later. You don't need to confuse to manage your funds in your wallet because when the price can stay at more than $50k, you always make a profit from the bitcoin that you bought lower than $50k.
But it will be different if you use your bitcoin to trade because you must find a way to buy at a lower price and sell bitcoin at a higher price to make a profit. If you plan to buy and hold bitcoin, you don't need to worry or confuse. Just buy and hold it.
But it will be different if you use your bitcoin to trade because you must find a way to buy at a lower price and sell bitcoin at a higher price to make a profit. If you plan to buy and hold bitcoin, you don't need to worry or confuse. Just buy and hold it.
People mostly use portfolio trackers such as Blockfolio[1]. Privacy concerns aside, it's a pretty handy tool to track your past purchases and see how much money you've made in average. You pretty much just add information of your past transactions to the app, and it calculates stuff for you.
[1] https://blockfolio.com/
[1] https://blockfolio.com/
I think what you are asking is the average price you've paid.
Am I on the right lines here?
If so it's something like:
0.75 * 7 +
0.075 * 35 +
0.0535 * 49
and then divided by 0.75 + 0.075 + 0.0535
A few minutes to do in a spreadsheet if you have ongoing transactions to add.
Am I on the right lines here?
If so it's something like:
0.75 * 7 +
0.075 * 35 +
0.0535 * 49
and then divided by 0.75 + 0.075 + 0.0535
A few minutes to do in a spreadsheet if you have ongoing transactions to add.
Hi guys,
Just want to know how do HODLERS go about storing and making sense out of their BTC when they purchased at different rates throughout several years...
I first bought 0.75 BTC @ 7k $
And having it stored in my personal offline wallet,
Then i bought 0.075 BTC @ 35k $ and had to stored it in the same wallet,
Finally i just purchased yesterday approx 0.0535 worth of BTC @ 49K $ (still not a bad time to buy IMO)
I also occasionally receive funds from my clients in BTC and decided to just HODL it at DIFFERENT RATES...
As you can tell i bought BTC at different rates within the past 4 years and stored them in the same wallet eventually, but id like to know how to go about managing my funds in a same wallet without confusing at which price i bought each time
Just want to know how do HODLERS go about storing and making sense out of their BTC when they purchased at different rates throughout several years...
I first bought 0.75 BTC @ 7k $
And having it stored in my personal offline wallet,Then i bought 0.075 BTC @ 35k $ and had to stored it in the same wallet,
Finally i just purchased yesterday approx 0.0535 worth of BTC @ 49K $ (still not a bad time to buy IMO)
I also occasionally receive funds from my clients in BTC and decided to just HODL it at DIFFERENT RATES...
As you can tell i bought BTC at different rates within the past 4 years and stored them in the same wallet eventually, but id like to know how to go about managing my funds in a same wallet without confusing at which price i bought each time
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