Topic: My Past nine months bitcoin journey - page 4. (Read 2948 times)

It might seems to be simple that holding is easy but it takes a lot of effort on the contrary side because you have to bear all that crash,dips and FUD and panic sell.Suppose you see some green candles on the charts and then you are happy to see profits but then suddenly all those crazy shit begins and they again tumble you feel frustrated also but the fact is if you are long term holder then it won't hurt you much and you only need to be calm as many are and many not and then price increases you are in profits.I personally have gone through these sentiments lot of time but believe this patience will benefit you in long run and you won't be regretting selling at this or that.

I would rather say it's good to give up junk completely but i am also of the opinion that you can enjoy some cheat meals in between and to have your favourite food sometimes as this is also nice enjoyment and often we need to have what we crave for.But there is difference between rare case and most often so make your investment with whatever you can.

The second person should have enough conviction to keep buying BTC, too.... So if he had bought some BTC at nearly $20k, he continues to DCA buy on a regular basis when BTC prices are below $10k and maybe even when BTC prices spend a considerable amount of time below $6k, then he brings down his overall cost per BTC... and hopefully, he did not blow his whole wadd at $20k and over invest and since we were down below $10k for a large part of time of the subsequent time between early 2018 and mid 2020 there were a lot of opportunities to both buy below $10k.. but just to buy at whatever price was happening during that time to continue to accumulate BTC.. whether that would have been $10 per week, $100 per week or some other amount that the buy, HODLer, accumulator, could prudently put into his stacking of sats(BTC).

You are saying right that we should always be prepared to face dump or huge loss in the market as we are dealing in the highly risky and volatile bitcoin market and if we can't afford to lose what we have invested then we should stay away from it.But how many people who have hold bitcoin for more then 5-6 years in the past have complained about the loss? The prices in 2017 were $20k ATH and then crashed to $3k and now comes two people at that time -

First who sold their coins below $10k due to the panic sell because they were seeing some crazy red candles on the charts and wanted to cash out the investment as soon possible but what they gained from it? Some might be in profits or loss but majority was at loss who sold.

Second comes the Holders who didn't panicked out during the dump and stay calm because they were long term hodlers and stay away from all negative vibes and still hold the coins so they are now worth $67k at this time.So they are huge profits.

There is difference between them so just prefer long term without any trading if you don't have experience for it and Bitcoin will not make you upset.

I believe we should also plan for the possibility of losing money and knowing when to stop because it is not always profitable. If there was a dump , we should be prepared. Same as target profit, you should also choose your stop loss, which should be equal to the amount of money you can afford to lose in the event of a dump, just to be prepared and ensure that you will survive. However, you are correct in that making a profit may occur sooner rather than later due to the fact that cryptocurrency is extremely volatile and, in some cases, extremely fast.

 Many times we come across such periods where we found our boat sinking to the bottom levels or in other words our portfolio is witnessing reverse growth and our investment is decreasing day by day like you said in your case and we might find it difficult to survive but the best option is to leave the funds safe like if you have bitcoin and completely forget about them for some time and have patience.If you have sold about 3 years ago then would you have been able to enjoy the new ATH at this time period? So we all know this is highly risky market and funds could be lost but trust me btc will not let you down so easily.

Although i don't have big proportions allocated towards bitcoin similar to many of the big investors who managed to get them at early or have deep pockets to back them up at high prices also but i am not no-coiner also and have reached good amount at this time and will continue to have them without any hastle.I am not into trading which could be hectic and mind consuming but just want to hold for long periods and believe me it's not hard once you make up your mind and no major crashes affect you.I have seen 70-80% downfall in bitcoin prices but still we have seen it reaching $68k today so that's the motivation for me.

It's all the mental game and if you could survive that easily or in pressure you will sit on profits but keep in mind it will work only for bitcoin as per me not the shitcoins that are rising for a temporary period in market.Suppose you are holding some meme coins with psychological thinking that it will grow and have faith in it but it's completely delusional faith and nothing is going to improve and it's better to sell them ASAP.So make the difference and set your goals as i have made for bitcoin.

You have been able to hold for more than 3 years and now you are able to make huge profits. This is actually a psychological challenge. When the portfolio is declining in a bearish condition, there tough to keep holding mentality at that time, and Investors fall into serious psychological challenges.
In most cases newcomers face such problems, the experienced ones do not care about such types of regular pumps and dumps.

The first thing which you should do is to set the target for each coin that you bought. You can think of taking profit at 2x or 3x depending upon the coin marketcap and other factors.
There is no hard and fast rule that if you invest for an year or two, you can achieve your target. The target price for your investment can be reached much sooner than your thoughts.

Holding is hard on the way up and on the way down, and seems to me that the harder part for many comes after they feel that they have sunk a decent amount of value into their investment and then the BTC price dips way below their costs and maybe even stays there for a couple of years.  I had very long periods of nearly 3 years that some of my BTC were below the cost of purchase, and I even had periods in which my overall investment was only worth about 30% of the value that I had put into it... so those kinds of periods can be even more difficult - and they likely would be worse for someone who may have overinvested or even taken out debt. 

The amounts that you depicted so far in this thread do not necessarily seem to be high enough to even cause as much concern.. but surely also a lot of these kinds of considerations are relative too, in terms of other investments that you might have or even if you have all of your investments tied up in bitcoin, which might cause nervousness too.. and maybe even more nervousness the longer that you are invested and the more that you start to feel loss of value with the BTC price going down. 

Of course you have a right to your own perspective.. and I suppose that there can be some euphoria being in profits, too.  There do seem to be more options when you are in profits, even if it may well cost more (relatively) to acquire more bitcoin (less bang for the buck when the BTC price is higher).

The Bitcoin candles are green once again and the investment or say my portfolio value has been growing continuously with just holding bitcoin.That is the power of holding.

Many claims that it's hard but in actual holding bitcoin is the most easy task but holding them for long term and in secured way is hard one so make the difference and Bitcoin is not going to wait for you.Make some early moves.

I am still doing the same work that i have mentioned in this thread and continuing my investment strategy with putting weekly funds into bitcoin and now prices are also someway low so getting some extra sats for the same.

What type of achievements you are referring to? If you are saying about how much btc i have accumulated then you could find it in the @OP for all the details are mentioned over there but if you are talking about some others then please clarify.

I will publish all the profit generated in single report after 6 months time period to have an accurate idea about the profits that i have made over these time periods.Will surely share all such report with you all to make you realize the importance of Bitcoin investment through DCA strategy and why many prefer it over one time investment.But still you can say i am in profits at this time because at one time i bought them for $30k also and now they are $60k so have an idea until then.

You can take any coin of your choice but if you seek my advice then don't for some altcoins if you can have bitcoin instead of them with the amount you are willing to put in them.For example you plan to do $60-$80 ETH investment then could you survive the gas at this time? So consider investing in bitcoin which is this thread all about but at last the decision is yours.

Not stopping for long time as i have not planned such things as main goal is to make investment at this age and try to save more and more to invest the same in bitcoin.

You can read the thread throughly as it's not a long one and come to know my investment plans and can take an idea how much bitcoins i managed to accumulate with my investments going on.There are lot of options available but you should always choose the right one because all that shine is not a star if you understand me.

This is a very good long term investment strategy and I can say for  a certain that you're in the right direction. I'm planning to do something similar with Eth, BNC or LTC.

How long do you plan to go before stopping to take profits?

I haven't read through the entire thread to know if my question has been answered. Forgive me if I have but I'm very excited with this Investment plan.

Yeah i am making up the whole things balanced and noted down to calculate the profits but will make depth analysis after 6 months of investment period to have an idea about the actual profits in that period and will take the fact how much average price it take my investment to reach that much btc accumulation stage.We all know btc is good source of investment and our funds will be safe so why don't we make our move? All the investments like stock and traditional markets have risk associated with it but we don't fear them but on the other side btc can make our inflation future secure with it's deflationary nature and we still make excuses about it.This is the time so take some motivation if you all can from me or anyone else but put some funds into it.

Actually i consider myself late to the bitcoin accumulation stage but didn't want to go beyond this time limit and started investing money with all my savings to bitcoin for future safety and to counter balance the inflation rates and have no tension ahead.I heard about bitcoin in the past but was ignorant like others not to realise my mistake when prices were down but still i am doing it now so don't worry at all.You should not worry about volatility at all if you believe in it and keep investing if you have long term goal like me and this will surely be profits for you.Speaking of me i don't have plans to sell my coins as no fixed price target but at this time i am only at accumulating bitcoin as much i can to enjoy rest of the time and when i will need will sell them.So you should also try this by DCA and you will see gaining more coins at the same price through weekly or monthly investment like most of the companies do.This way average price is very much low compared to total investments.

What an awesome success story, you started buying BTC at the best point in time, your initial purchases are up 50%. I wish I had started buying bitcoins again too but the high volality this year made me very cautious. At least I didn't sell any coins yet this year so I can still profit. What I really like about your strategy is that you buy coins weekly and not all at once. Like this you manage to get very good average prices. This is very inspiring for me and I will try to do something similar. With my Christmas money in December I will invest in bitcoins again and like you I will try to buy every week for some months. Do you have a fixed target for the bitcoin price when to sell?

See i would like to suggest you not to quote full thread as it seems big text of wall and you can simply quote a part you want to reply to or if you want to have general conversation about the whole topic simply use this method:


Speaking about profits i have made them with the price increase but what actually profits are made when we cash out the investment but at this time in my case that's not happening as I am at accumulation stage only and will keep buying them even they pump upto $100k even after end of this year only.I have already Missed the opportunity to invest early but not going to wait even further for price to be low or dips because that's not happening so why wait even if you can put up such small amounts also for your future.But i would say that in case of an emergency if i am need of funds i won't have to go for any help to borrowers and my Bitcoins will help me in that case and i could cash out some portion of it because it is our financial asset to cover our back when we are down.But at this time plan for long term investment without thinking if it will go $100k we will be rich and spend all our coins but plan bigger and enjoy then.

At this point, I consider $100 per week to be a reasonably aggressive level, but I understand that not everyone can reach that level.  

In real life, I meet quite a few people.. mostly relatives, but surely some other people who find out about my investment and involvement in bitcoin, and almost every time that someone says something about the possibility of investing in bitcoin, they seem to get worried about bitcoin already having had some pretty decent price run up, and with almost everyone I tell them the same thing.. to get the fuck started, and hardly anyone actually follows through with doing something - even people who have been following my bitcoin journey for several years, and I had been telling them the same thing.  

So, yeah, I used to recommend $10 per week, and now I am into recommending $100 per week.  I do have one success case recently in real life of someone who is doing around $50 per week, and she is in her early 60s, so she does not have a whole hell of a lot of working time left, but I tell her that she should be able to get her shit together to be able to afford to invest more aggressively.  She does have property and some other investments like a 401k.. and presumably some kind of pension.. I don't really know her exact details, but I think that she already uses a lot of debt in various aspects of her life with whatever she is trying to achieve in the remainder of her working life.. so yeah, it becomes a bit more difficult to suggest to someone what to do if their investment timeline is short.. so in some sense even if I say you should invest $100 per week (to her) and she ONLY does $50.. well, she has to live with her choice, and surely her choice is much better than nothing.. which tends to be the outcome of the vast majority of people with whom I discuss the bitcoin investment matter in real life.... even if they are likely fairly easily afford up to $100 per week - especially if they have some kind of income already coming in or they are already having an established life in several regards.  

Younger peeps and newbies who have a decently longer timeline that is at least 10 years, might start out with $10 per week, just to get started, but to realize that $10 per week is not very aggressive to make much of any kind of meaningful difference, and they should be striving to move up to $100 per week as soon as they can get sufficiently comfortable to attempt to manage that level of ongoing injection of value into bitcoin.... and no matter what is the amount, they keep investing and see in 4-10 years how their investment is playing out and sure maybe along the way they can study the matter, reassess how much they are putting into bitcoin and reconsider other aspects of their investment and their lifestyle whether that is there expenses or their income and if they come to various reassessments along the way, they can also reconsider how that affects the amounts that they regularly put into bitcoin in a DCA kind of way and if they can supplement with other strategies like lump sum investing or buying extra on dips.  


You can ONLY act based on current circumstances.  So yeah, OP has several months worth of runway, and if we go by your forum registration date, we see that you (Kadal Ijo) have been involved here since late 2016 (nearly 5 years, no), so did you buy any bitcoin?  You have had a longer potential timeframe, no?  If you are considering getting started now because you anticipate a pump to $100k in December, then what you going to do?  consider that $100k to be a top.. or just keep buying whether a $100k pump happens or not?  If you had been already involved in buying bitcoin for 5 years, of course, you have more potential options about what to do.. but I believe that OP and his such early stages of his strategy that it likely is not going to help him very much to consider changing his strategy if there is a $100k pump because then the question might be to maybe hold back and wait for a dip.. or just keep buying BTC regularly whether there is a BTC pump or not. 

Again, a $100k pump does seem like a BIG so what for someone who continues in early aspects of their BTC accumulation stage... and maybe just a dilemma rather than some kind of place to take any reward.. even though some implications and even temptations will be to take reward.. which may or may not play out well.... but if such pump goes to $500k or even to $1.5 million, then there might be more logic in taking some off the table out of expectation of a correction.. but $100k is a bit more ambiguous regarding what to do.. especially for a newbie BTC accumulator with less than a few years of BTC accumulation.

Sure you could also try it but you can change the investment according to your priorities and frankly saying it's not too hard to give up on extra budgets ans save for our future when you realise this fact that junk food or any unhealthy expenditure is just fun for matter of time but accumulation of bitcoin is the top most priority for us that could give high profits in the long run and you could easily enjoy afterwards.When i said you can change your investment is mainly because you should be consistent and invest for long term and then only you could have sufficient btc with you and short term volatility should not affect you at all.

That's the return btc have provided to the holders and not any other asset is capable of providing such high return even at low amounts and that also in such a short period of time.Those who grabed the early opportunity to invest in btc through DCA are now having some big amounts with them.


Yes you are right i am getting close to $100 and this month's investment will have that week probably and to save $100/week into bitcoin to accumulate some more and if the current scene (99%) continues there will be more and more bitcoin investments made by me as now my portfolio only consist of them not any altcoins.Keep enjoying.

Sure, everyone feels good being in profits in the short term, but the short term does not really matter too much.

If your investment thesis allows for at least a 4 year time horizon, then you can look at where you are at in 4 years and perhaps give a bit of a congradulations, and likely even more of a congradulations 10 years after starting... .. even though I understand that short term might feel good too, but the short term should be considered as paper profits rather than actionable profits. 

By the way, if you are really considering getting to a kind of fuck you status before digging into your BTC, then perhaps even 4-10 years is not enough to actually do any kind of sales of bitcoin.. everyone has to decide for themselves in terms of how to manage their wealth and if they are going to change from DCAing into bitcoin and to start to employ techniques like skimming off the top  of their BTC profits or engage in other ways of managing their BTC holdings above and beyond DCA buying...   The tactics and strategies might become more clear once the 4-10 years have passed and at that time it will be more concrete regarding what kinds of new tactics to follow, if any changes are deemed to be changed..

For sure more options are available for those who have BTC holdings that are within larger levels of profits, so likely the longer the passage of time, the more likely that profits are going to become better, and surely DCA might be the best of the techniques for normies trying to manage cashflow, but also lump sum investing and buying on dips can also be used to supplement accumulation.. so when you get 4-10 years down the road, your options can be appreciated....

On my personal level, I am getting close to 8 years in bitcoin... , and even with a relatively modest investment of $10 per week would have gotten someone nearly 5 BTC by now, and of course a more aggressive investment of something like $100 per week would have gotten 10x those results.

Probably based on current money printer and other various irresponsibilities that are happening to debase fiat money (and maybe even the fact that bitcoin is in a later stage of price appreciation), it may well be better to aim at a more assertive BTC investment approach and go for investing $100 per week as a target, if you can... and then see 4-10 years from now how your BTC investment holdings are doing.. I would surmise that there are really good chances that you will be in a decent place 4-10 years from now if you are able to attempt to be as assertive as trying to put $100 per week into bitcoin every single week.

I understand that not even OP has gotten his investment into bitcoin to $100 per week, but he is coming very close to that, and I am not even going to poo poo smaller levels of investing into BTC because each of us can ONLY reasonably invest as much as we are able to spare.. so sometimes it might not be reasonable or possible to set aside $100 per week or $400-ish per month.. so we do what we can and we also try NOT to over extend ourselves because we do not want to overinvest into bitcoin to such an extent that we are forced to dip into our bitcoin savings/investment at any time that is other than a time that is completely of our own choosing.