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Topic: Is it allowed for users to share their opinions on my purchase plan? - page 2. (Read 490 times)

legendary
Activity: 1652
Merit: 1483
Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

what are your technical reasons for entering now? just based on the idea that the market has fallen far enough, and this is probably a good entry in the long run?

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

what do you mean by lose? do you mean cutting your losses and leaving the market, or holding a declining portfolio? if you're hesitant to hold through a bear market, you might consider waiting for a bull market to appear.

i'm a long term bull too, but i'll concede this market could still fall a lot from here.
legendary
Activity: 3542
Merit: 1352
Cashback 15%
If you're having doubts, then don't do it all at once. Studying is not a few hours commitment; if you want to really digest what's happening in the market, I think few hours isn't enough to get all the knowledge you needed before investing. $50k is a lot of money in my books, and I could easily create a business that will run for years had I chosen to not invest it on crypto. There are always risks on every form of investment available to Man, and you need to decide whole-heartedly if that risks are worth to take for the potential reward.

Seeing bitcoin as 'too big to fail' is also wrong, and you really need to evaluate your plan since you might get it wrong and you might kick yourself once bad things happen. I'm not a crypto hater nor a non-believer, I'm just stating that anything can happen for bitcoin and crypto investments in general.
legendary
Activity: 2268
Merit: 18711
Despite 50k being a lot for me, I do feel like BTC does have a good future. Which is why I'm having mixed emotions about the investment. I'm kind of thinking in my head, "I feel like I'll definitely profit, but what if!?"

Your post and strategy seem sensible, but this one sentence is a big red flag.

There is no absolutely no "definite" about it. You might profit, you might not. You could very well lose close to everything. If it were me, I would certainly aiming for a more balanced portfolio of risk by splitting this 50k investment across different asset classes. Fiat savings, bonds and stocks are the obvious ones, but others might recommend gold, property, etc.

I would also probably be waiting until we get a clearer indication of which way the market is going to move before I placed my first buy order. We could quite easily drop lower before the next bull run.
hero member
Activity: 3094
Merit: 929
The "What if?" question will follow you in your nightmares forever.
Nobody (including you) can be 100% sure what will happen to bitcoin in the future(and what will happen with your investment).You just have to decide wether or not to take the risk.
For me,crypto trading is 33% having a good trading strategy,33% decent market analysis and 34% luck or destiny(a couple of external factors that you can't control). Grin
legendary
Activity: 1806
Merit: 1521
Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

If this is a sizable investment for you, you might consider scaling in over a longer period of time. There is a definite possibility that 2019 is a sideways or bearish year. Ultimately, I think the price could still be cut in half from here in the coming months, but it's also possible we're near a historical bottom. I agree with your overall outlook but I'm unsure about the timing.

Thanks for the response. I actually have a ledger nano s that I purchased a while back for my ETH so it should be sufficient, I think.

I would spread funds across different wallets. It's never good to keep all your eggs in one basket, so to speak. Ledgers are pretty solid, but there's a considerable attack surface and I wouldn't consider them quite as secure as cold storage.
hero member
Activity: 2786
Merit: 902
yesssir! 🫡
Despite 50k being a lot for me, I do feel like BTC does have a good future. Which is why I'm having mixed emotions about the investment. I'm kind of thinking in my head, "I feel like I'll definitely profit, but what if!?"

You should have some kind of risk assessment and consider not just one possibility. Make sure that your life won't crumble into pieces no matter what the outcome may be. The market is uncertain so I agree with pooya, invest only what you can afford to lose.
newbie
Activity: 9
Merit: 1
Thanks for the response. I actually have a ledger nano s that I purchased a while back for my ETH so it should be sufficient, I think.

Despite 50k being a lot for me, I do feel like BTC does have a good future. Which is why I'm having mixed emotions about the investment. I'm kind of thinking in my head, "I feel like I'll definitely profit, but what if!?"
legendary
Activity: 3472
Merit: 10611
$50k seems a bit much specially since you are claiming that it would hurt if you lose it so maybe it is best if you invest a smaller amount that you can afford to lose. also make sure that you truly know how to store bitcoin properly so that you don't end up losing what you bought to silly things like getting hacked, losing password of the encrypted wallet,... in short learn more about cold storage.

your purchase plan seems good to me. split it into multiple orders and try placing them at prices which you think can happen and the order size can depend on the chance of it happening. for example if you think some price has a higher chance of being reached then place a higher amount buy order there and if the chance is lower then place lower amount.

in the end it comes down to your own speculation about long term potential of bitcoin if this is an investment not a day-trade option. if you think bitcoin can rise in long term then invest away...
newbie
Activity: 9
Merit: 1
Hey, I'm a pretty active reader of this forum. A little about me. I had a bunch of BTC in 2015, sold it for a couple thousand like an idiot, ended up with nothing. During the 2017 run up, I purchased some ETH, profited 20k, sold all of it in one go before the drop. Then purchased 1 BTC at 6.8k, still holding till now.

Every 1 or 2 weeks over the course of 5 periods starting in the next couple days, I plan on purchasing 10k worth of BTC at a time. In the end, I will be spending 50k. I have already made up my mind that BTC and Blockchain technology is here to stay for the long run, and I believe this fully.

After many hours of research, I've concluded that BTC will increase in 2019 because of the many reasons you can find on Google.

My only reservation is that 50k is a lot for me, and losing all of it would hurt. Logically speaking, I would never lose all of it because BTC will not go to 0, but it is possible for me to lose a large portion of my investment, which would also hurt but I would stomach easier.

What do you guys think?

I realize that a lot of this information I'm presenting, and a lot of what I'm asking for can be researched on the forum. I think it's a combination of me wanting opinions on my specific situation, and slight nervousness that is causing me to type all this out.

Thanks in advance.
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