Made a mistake once years ago selling early, hoping for 'The Dip'.
Never made that mistake again.
Sometimes it takes a few times to learn from those kinds of mistakes, but sometimes certain mistakes will resonate a lot harder than others.
There are many posters in this here thread who have demonstrated similar levels of gut wrenching anxiety when the sell any significant amounts of their BTC .... In those cases, we invest into bitcoin for "reasons", and accordingly, it is like many of us prefer sleeping in BTC rather than sleeping in fiat.
Of course, comfort-levels in being able to sleep in BTC remains a matter of making sure that none of us overinvest in BTC... at least make sure that we have our regular and emergency expenses covered... otherwise a bit of "overinvesting" may be tolerable risk(s).
So, for example, if you have all of your expenses covered and projected out for 6-18 months, and then you have figured out how much of a budget that you have coming in from cashflow and other sources on a weekly or monthly basis, then sometimes these kinds of planners can take relatively larger portions of their extra money and put that into BTC... It should not be missed money because it has been properly and prudently calculated or even that such BTC investors might need that money some day because of an emergency.. because these proper planners have figured out their separate fund (or other resources) that they could dip into in the event of an emergency... one of the common mistakes is when guys do not adequately plan far enough in advance, and then they are trying to let the BTC proportion of their investment ride for too damned long, and then they get into a pickle in such a way to have to cash out some BTC to cover some of their expenses that they have not adequately planned for (and should have reasonably been able to foresee - especially with prudent rather than gambling-style planning)
Accordingly, any of us can become somewhat jittery when the BTC price falls (and the BTC price is going to fall at some point, even in our current seemingly ongoing bullish situation)..... Look at the post from exstasie from earlier today. Yeah, I know that sometimes BTC price moves can stay really irrational in either direction for a decent-ass amount of time.. but reversals can come quickly and violently too. In our current BTC price momentum situation, we also have not had any significant, deep or lasting correction since $3,850, either... that is getting close to two months without a correction...... yeah.. we could keep going up.. and many of us remember April to June of 2019... that was a 3-month upward price move without any meaningful correction.. until the end of June.. remember $13,880 in the end of June 2019? ... anyhow, if you are getting uncomfortable sleeping in BTC, including sleeping through any 20% to 50% dip that could come, then that would be a sign of being overinvested... and yeah there is no magical price point in which such 20% to 50% price correction could end up starting to happen.
Surely, how much is overinvested or the right amount or even a significant level of known risk of being "overinvested" remains a balance that is likely going to play out a bit differently for each peep, and part of the balance comes from both having accounted for other cashflow and expenses for a reasonable time into the future and also could partly come from the fact that overinvestment had come from not really being part of the initial investment amount but merely through riding ongoing profits from those earlier investment that has appreciated with the passage of time... whether those initial investments were various lump sums or they were DCA investments that merely average out to decently lower costs per BTC in comparison to our current floating BTC price.
Personally, I believe that it is way more acceptable to be willing to take higher levels of risk on profits from earlier investments versus taking risks with the amounts of your initial investments. There are a lot of financial advisors who seem to want to equate the two categories, and personally, I believe that those kinds of assessments are full of shit and they are inhibiting bitcoin investors from significantly and sufficiently profiting from an ongoing likely to be better than average performing asset class, namely bitcoin. So, in my thinking, there remain times to allow your winners to ride way the fuck more than what traditional investment advisors might be pushing you towards unreasonable reallocations that cause your portfolio to way underperform what reasonable risk-taking would otherwise allow.
In any event.... dyor, don't invest more than you can afford to lose, mf (dimtycatl-mf), ymmv, dca, HODL, btmfd, etc etc
