Topic: Is it allowed for users to share their opinions on my purchase plan? (Read 490 times)

I'm pleased for you. If you bought in around $3500 as you say, you'll should now be sitting on over $100,000 of profit.

You said back in your original post that you were originally involved in BTC back in 2015, so you are well aware the market can drop even more quickly than we saw it go up in the last few weeks. You also said that $50k was a huge amount of money for you. With that in mind, my advice would be to withdraw your initial investment. You are still left with over $100k in bitcoin going forward, but you also have the piece of mind if it does drop significantly or even to zero, that you the worst off you will be is back where you started.

Thanks everyone for your comments, it's been a thrill watching my portfolio grow over the past few months. I ended up averaging in to BTC at $3500 for a little over 50k. It seems having the guts to act rather than simply speculating and commenting has paid off for now. I wish everyone profits in the coming months and years.

Everything I see on Google is actually the opposite of speculation. They are facts, plans, and an increase in worldwide adoption. Currently, I'm already up several thousand due to this small pump, but obviously, this does not not mean anything to me since it's just short term gains. I too am hoping for a good year for crypto this next year.

I know you have been here in this technology for a quite long time which I consider that you have knowledge in this technology as we know that investing in this technology is high risk. Since you have done your research I pretty sure that at this time you will guarantee to become rich by next year but put in your mind that everything you read thru google is just speculation. It's not a guarantee that the price for 2019 will become bullish.  

Thanks for your advice, but I feel we are near the bottom, so I have actually made several large buys already. I agree averaging out like you said would lower my risk, but I just don't feel averaging out over 20 weeks at this moment will maximize my long term profits.

If you have 50 thousand dollars to gamble away in a bitcoin bet, why not divide it more ? I mean instead of 10 thousand dollars for each entry, how about you do something like 5% each entry for 20 times. That way you can either use it weekly or even monthly and you can put money in it for a long period of time. That would mean you will take less risks for a potential decrease in the price but you are giving up potential price uptick as well.

If you really believe bitcoin will go up soon than you can put your money weekly for 20 weeks and that way you will be all invested this summer. Or, if you think it will take longer you can invest monthly and you will be all invested in 2020 at the earliest. I think putting it all in 5 times is not a smart move, I would suggest at least 10 and better yet 20 for that.

Thanks for your input. I'm actually not quite worried about the 1 BTC I purchased months ago, I just wanted to keep some skin in the game after I cashed out of ETH. How are your holdings doing?

Looks good. Honestly, prices are pretty low right now and the general consensus is that we're close to the floor.

Your strategy seems a lot like dollar cost averaging, whereby you buy a predetermined amount of BTC each period regardless of what the price is. In my opinion, this is quite a good strategy for accumulating coins for the long run especially in a bear market, as you are essentially accepting that it is pretty much impossible to predict what the lowest of lows are going to be, but rather, focus on averaging out the entry points of your long positions so that they are most profitable in the long run.

As for the coins that you purchased for $6k+, I would not worry about it. Again, by buying now, you are able to lower your average entry point. And if you believe in bitcoin in the long run, whether in terms of institutional investors, or adoption over time, as I do, then breaking $6k again is only a matter of time given the potential demand in the future.

Glad there are many others who share the same view on this technology for the coming future. Hopefully over the course of the next few months, you'll be able to get your purchases in at the price you want. Good luck!

Well, I've spent quite some time over the course of the entire time I've been involved with crypto. Just recently, I've been focusing a lot more on 2019 and 2020. Although it would be incorrect to say BTC is too big to fail, I do feel this is currently a strong possibility for at least the next few years. Individuals and organizations have hundreds of millions involved in the currency, and I just can't see them allowing themselves to either lose money, or take advantage of the market.

You should definitely have reservations. You should have some reservations investing money in anything, even "safe" asset classes like government bonds, and you should definitely have some investing in something as risky as bitcoin.

Look, I'm probably as long-term bullish as you are, but nothing in crypto is guaranteed and nothing is risk free. You've said yourself that $50k is an "absurd" amount of money for you. No one should be investing what they consider to be an "absurd" amount of money in any one thing, except maybe if you are buying a house to live in. Spread that 50k over some combination of fiat savings, bonds, stocks, gold, etc, as well as crypto.



You should. Everyone should. By its very nature, bitcoin is risky.

Wow, your story seems oddly similar to mine - bought a bunch of BTC late 2013/2014/early 2015, sold it all at the bottom in 2015 for a couple thousand, though then i bought a bunch of bitcoin and some ethereum last year, didn't sell any at the top and managed to lose a bunch trading during the crash haha. Though I just started buying more the past few weeks once it went under $4k. And coincidentally I also plan on buying $50k worth of Bitcoin (picked up $7k so far), though I'll do it over the next few months.

Honestly buying Bitcoin right now or in the next few months is the absolute best investment you could make now. I have zero reservations about throwing $50k into Bitcoin over the next few months (and $50k is an absurd amount of money for me, outside of my crypto portfolio at the end of last year and the first half of this year I've never had $50k in my life before - I'll only have it now cuz the company I work for is about to sell so I'll make some decent money). Still, zero reservations. I'm hoping to pick up more than 12 or 13 more Bitcoin with that money and plan to sell it at $70k which I figure will EASILY happen on the next boom in a few years.

Of course if you would stress about putting that much money in you could always only put say half of it in now and wait till maybe mid next year or whenever a solid new bull market has begun to put the other half in, you'd just get a lot less for your money then, but if you view Bitcoin as risky (I don't) then that would put your mind at ease and you'd still make a ton of money if you wait until the price is booming again in say the high 5 digits.

The moment your risked a big money, I will assume you already know the circumstances, and that include chances of losing.

It's just that you are confused. But why just now? Why not prior? Since you already in the game and face the risks for quiet long period now, you should have at least an understanding what you really gonna do.

What if loss? There is no loss overnight. Not a friendly advice but I will continue the original plan. You are optimistic and you have reasons for that. For less pressure, take your current investment as loss now (obviously not a literal loss) and trust the process on the way.

No one can dictate what you gonna do. I believed you can make your own stand on what will you do. Goodluck.

1.So you have profited 20k $ by selling some ETH and buy 1BTC for 6.8k$ - which means you left some 13k$.

2.Now you have a plan to spend 50k$ by investing in BTC, which means you have decided to invest extra 37k$ in cryptocurrency.

3.If Google is your main adviser, you should stop everything you do and save you money. Probably you read a 90% of predictions/speculations that have no solid foothold, and based on that you think 2019 will be good year for BTC?

4.The golden rule of investing : Never invest what you are not ready to lose.. If you risk money you may need in any time of your life then you make stupid move and and I advise you to think well. In case you have extra 50k $ which you do not need in life, you can invest in BTC, but be fully aware of all possible risks - your money, your game

What do you consider to be a confirmed uptrend? I'm not sure if there is any confirmation to grip on to be honest. Even if the price jumps over $5000 or nearing the $6000 mark it can just as easily fall back down and hit lower lows.

It could very well be that there is a lot more hidden selling pressure in form of altcoin whales having sold to BTC and are now waiting for a good time to dump. Altcoins are still quite expensive currently and could fall way more in my opinion...

It's pretty annoying that we have to go through this, but well, that's how this market apparently works and we have to accept it. People enjoyed the good side of the market last year and are being presented with the consequences of that this year.

You said yourself that losing it all or a lot of it would hurt, so you should probably consider investing less. Perhaps also consider diversifying a little bit and buying a few alts as well. Finally, I wouldn't rush to buy every week, maybe buy your first lot, wait a week and then see how the market is, it might be worthwhile waiting longer between buys.

i think you may be forcing the issue buying every couple weeks. bitcoin is either dumping or pumping, there really isnt a middle ground and  the sentiment right now is very bearish and it has been dumping. so if you can handle your investment being possibly cut in half its up to you. if we stay in the $3k area and people get comfortable chances are the price is going to dump more as the whales will lock in another slew of bagholders. what I would do is buy at every $500 drop in price. So buy at $3.3k, $2.8k, $2.3K, $1.8k and $1.3k if you planned on buying 5x. I would back load you dollar amounts so your biggest purchase would be at $1.3k.

if it was me I would hold on to my fiat until the uptrend is confirmed in the future.. yes you will be leaving profits on the table but you will be in control and not at the mercy of the bear market. gl

Not just you, more than 50% this community is doing exactly what you have done. Fortunately, you managed to see some profits with both bitcoin and ethereum but many people were not able to do that. It is due to the basic understanding of the common man who is not having any big awareness about the futures of cryptos.

Your research had helped you to find the real fact, yes cryptos are going to stay with us for ever or at least for the next two or three centuries so you never need to worry about what you have invested. All you must need as of right now, just being more patience and simply watching the ups and downs of bitcoin markets. There will be plenty of chances to recover your capital by the year of 2019 and in 2020 you may get x5 to x10 returns also. So, be confident by believing into the futures of BTC.

That is why make sure to store them safely.  You said you already had BTC and ETH. So you are probably familiar a bit. But if you are not and you just left them on exchange or on your computer vulnerable to some malware I suggest you to do your homework first and learn more about security.  You should have most of 2019 to buy coins at low price. So no need to hurry.

It is good to have a lot options when purchasing crytpocurrency but never forget to ensure proper risk reward management is put in place to curtail any unforseen event.