I am afraid dear hodlers, that soon we will have a big problem! No, I am not talking about a crash! I am talking about going above 10K. Last time some of us (like me) didn't sell anything, but what will you do, when we hit 15K-ish zone again? I am just curious (this may be kinda of a new poll), if you have any strategy? Hodl all, sell 1/3, sell 1/2, sell all, or other. I am pumping up myself to hodl everything until I reach the right amount for a nice beach villa, new car and savings equivalent to my salary before my retirement after 20 years. Hopefully the property will be paid with
BTC, so I may not sell
BTC at all
So far, I have only one strategy for
BTC:
There should be no problem with any strategy that continues to shave off small amounts of Bitcoin all the way up to $20k.. and maybe even considering proceeds from those sales as insurance to buy back on the way back down, if the price goes down. I use something in the territory of 1% for every 10% price rise, and variations of that can work.
I do recognize a kind of phenomenon that tweaks down could be made around the $20k territory because once we get that close (assuming so), then there becomes a real decently increased likelihood that the price will shoot well past the previous ATH. 30% past? 50% past? 100% past? There are going to be corrections along the way, but sometimes when the price is shooting up, any person might not be able to figure out when the price is going to pause in its upwards trajectory and even with small sell amounts along the way, feel as if s/he is selling too much because the price just keeps going up... but then likely the same person will thank himself/herself for selling along the way when the price suddenly and unexpectedly stops going up and gets into a 10%, 20%, 50% correction phase that could last several weeks before resuming UP.
but what will you do, when we hit 15K-ish zone again? I am just curious (this may be kinda of a new poll), if you have any strategy? Hodl all, sell 1/3, sell 1/2, sell all, or other.
The baseline doesn't change. Sell X coins every Y increase in price, buy X coins every Y decrease in price. When the bankroll starts getting small, change the buys to X-epsilon.
Of course, this can be modified by bulk sells to fund
interesting things. I'm likely to sell a couple percent when it gets to $25k or $50k or somesuch.
But mostly hodl. Always be hodling. You don't want to feel like a chump when it 10x's from your exit point, and you ain't got nothing but a semi-big pile of stinky fiat.
Yes... Thanks for that jbreher.. You have provided a good and succinct way of describing a sound and prudent long-term BTC guidance strategy that helps any of us to make sure that we are reasonably accumulating BTC and preparing for BTC price volatility that is not only expected but in the territory of inevitable.
it looks now more busy then the two months before.
