What did you do After Reaching your Bitcoin Goal?

Obari

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

If you have reached reached your Bitcoin goal what did you do after then?

Well I don't think there is any specific action to take on this but I think if you reach you go, you should set more higher goals and keep doing what's best for you and I've always known that savings and investment isn't an easy task and if you get to a stage where you feel you've achieved your target, then you sboukd try setting new ones and try to reach them again as it is always best.
Well I've always know that human desires don't end and quest for material things are hard quenched and the desire to accomolate bitcoin isn't exempted I guess.
If I may ask, at what point do you think and feel you already achieved your target?

rachael9385

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Quote from: Woodie on September 19, 2023, 08:02:55 AM

The only crypto goal I had was based on getting to 21 bitcoins the DCA way (though this term wasn't used at the time), this was a challenge in one of the threads here on the forum some few years back, and having had to start to save when crypto prices were below a thousand dollars seemed very much possible but in the process btc price jumped to $10k and before you knew it was already floating around $20k and my saving plan was completely distorted which pushed me to learn how to trade on charts and abandon the bitcoin saving plan Roll Eyes

Lol, I believe with your little experience, you have seen how interesting Bitcoin investment can be. When Bitcoin was below a thousand dollars, many people thought the price would not be above a thousand boxes, but now the price of Bitcoin has surprised so many people who were skeptical about it.
Well, in your story I feel that you thought Bitcoin would take a long time to go above $1k and that was why you didn't put much effort into accumulating more, then when bitcoin hits $10k maybe you didn't have enough money to buy more and now Bitcoin's price is 27,142.50, that's is why you joined the trading section.
What I will say is that any little opportunity you have try and buy more coins, because, sooner Bitcoin will hit $50k to $7k and then many people will regret for not take Bitcoin investment serious.

Dimitri94

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

I may reach my Bitcoin goal very soon all thanks to majorly the Dollar Cost Averaging strategy. I have been investing some specific amount into Bitcoin every month since the past couple of years. I have been at least 80% consistent in doing that through the dips and the funds and the bears and the pumps. The question that's been on my heart is what do I do when I finally reach this goal: set a new one and DCA or just keep DCAing without any goal in mind. If you have reached reached your Bitcoin goal what did you do after then?

Congratulations on reaching one of your goals in investing in Bitcoin. However, I am not yet in a position to reach my goal with Bitcoin because I have set long-term goals. Maybe many people can set a small goal in investing in Bitcoin but depending on the situation, the goal must be met.
There is no better strategy than DCA to protect against the risk of high volatility in Bitcoin investing. It essentially reduces an investor's risk as well as plays an important role in his long-term holdings. Naturally without DCA a Bitcoin investor cannot easily reach his goals.

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

The question that's been on my heart is what do I do when I finally reach this goal: set a new one and DCA or just keep DCAing without any goal in mind. If you have reached reached your Bitcoin goal what did you do after then?

Everyone should have desires and dreams when they reach their investment. If you don't have it, I think you have a problem with that. When I was a child, I had a dream to buy a toy. So with that desire, I have to collect my allowance every day and save it on a piggy bank. After reached out and my savings are full, I solved it and bought the toy I wanted. maybe you have a goal, It's like impossible if you don't have a goal by doing DCA every day, If I were you, I would buy a house and car.

GiftedMAN

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Personally my Bitcoin goal has always been to keep acquiring Bitcoin until the number I have is enough to solve all my present financial needs, my future financial needs, and until the number I have is able to solve the financial needs of my community then I will believe I have reached my Bitcoin goal. Presently I have not gotten up to 10% of my Bitcoin goal and I don't know when it's going to be considering the price of Bitcoin at the moment so I think the goal right now is to keep buying with the little saving that is meant for Bitcoin until it gets to selling time.

Even though I reach my goal which is clearly stated here, the next goal will be to double the number that I have maybe for the next generation to come you never can tell what the price of Bitcoin will be in the next 30- 40 years to come so having Bitcoin as one of the inheritance of my children won't be a bad thing if you ask me.

Woodie

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The only crypto goal I had was based on getting to 21 bitcoins the DCA way (though this term wasn't used at the time), this was a challenge in one of the threads here on the forum some few years back, and having had to start to save when crypto prices were below a thousand dollars seemed very much possible but in the process btc price jumped to $10k and before you knew it was already floating around $20k and my saving plan was completely distorted which pushed me to learn how to trade on charts and abandon the bitcoin saving plan Roll Eyes

Xal0lex

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

I may reach my Bitcoin goal very soon all thanks to majorly the Dollar Cost Averaging strategy. I have been investing some specific amount into Bitcoin every month since the past couple of years. I have been at least 80% consistent in doing that through the dips and the funds and the bears and the pumps. The question that's been on my heart is what do I do when I finally reach this goal: set a new one and DCA or just keep DCAing without any goal in mind. If you have reached reached your Bitcoin goal what did you do after then?

That's a good question. I too have wondered about this at some point in time. I invest, I invest, I profit from bitcoin growth, I achieve my investment strategy goals, but what is the point? I decided for myself that sometimes we need to release some liquidity in order to take full advantage of all the opportunities the market gives us. If you reach some bitcoin goals, you can sell some of the bitcoins to have free money to buy cheap bitcoins later. The market does not always move in one direction, it is possible to benefit from all types of bitcoin market, even flash crashes.

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Quote from: TelolettOm on September 18, 2023, 07:29:18 PM

Quote from: LogitechMouse on September 17, 2023, 09:11:48 AM

Unfortunately, my Bitcoin goal isn't been reached yet, but the good thing I guess is that, after reaching my first goal, I already have a 2nd goal.

Do you mean your current goal isn't reached yet?
Since you already joined this forum since 2017, I'm sure you already reached your Bitcoin goal in 2021 at least. There is a huge gap between the Bitcoin in 2017 and 2021, every Bitcoin holder should reach their goals at that time. Wink

My goal of $20,000? Reached in a span of 4 years? No I didn't even reached it yet though I reached half of it during the last bull run, that was impermanent profit, and unfortunately I didn't sold all of my assets at that time. Worst decision in so far in my investing journey, but I learned from that mistake of mine already.

I'm living in a developing country, and $20,000 is already a huge amount already knowing how much our wage here. One thing more is that, 4 years isn't enough for me to reach that goal in my estimation. I might take at least 7 years or even more to achieve it depending on my income source, and the amount of money that I'm investing. Right now, I'm investing a little less than 100$ a month in crypto that's why my goal is far from achievable still.

Anyway, still a long way to go for me, but that motivates me to invest even more.

TelolettOm

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Quote from: LogitechMouse on September 17, 2023, 09:11:48 AM

Unfortunately, my Bitcoin goal isn't been reached yet, but the good thing I guess is that, after reaching my first goal, I already have a 2nd goal.

Do you mean your current goal isn't reached yet?
Since you already joined this forum since 2017, I'm sure you already reached your Bitcoin goal in 2021 at least. There is a huge gap between the Bitcoin in 2017 and 2021, every Bitcoin holder should reach their goals at that time. Wink

Sure, I also already plan my next goal if I get my current goal in 2024-2025. The goal will never end, we always plan another goal or a new goal. As long as we are investing in Bitcoin, there should be new goals in the future.

Quote from: Ziskinberg on September 18, 2023, 08:16:12 AM

Maybe I could say that I was greedy because after reaching my goal, I made another one higher. But I think it was normal for someone who is still alive and wants to secure the future of their kids and family.

No, it is not greedy. It is normal to plan a new goal if you already reached the previous goal. There is no people who keep Bitcoin without a goal (target). Everyone has the intention to have a better future, setting a higher goal is the way to make it real. I also will plan a higher goal, it is okay as long Bitcoin price continues to grow.

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

...The question that's been on my heart is what do I do when I finally reach this goal...

It all depends on the goal that you originally set for yourself. And if your goal was to use the money to buy a car and you collected enough bitcoins for this, then you should sell them and pay for the purchase of a car. Well, after that, you can set a new goal for yourself...

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Quote from: Gallar on September 17, 2023, 10:17:34 AM

~snip~
If I have reached the target (price) in bitcoin investment in this phase. Of course I will sell the bitcoins I have first. After that, I will set aside the capital I used when buying bitcoin, to buy it back into bitcoin, when the price of bitcoin starts to fall again. And I will use the remaining money from selling bitcoins for my investment capital in the real estate sector. Maybe that's generally what I would do.

A good strategy, you really have to be realistic with your investment and investment goals. If the target has been achieved then it is time to take profits and your capital. and the remaining proceeds from selling Bitcoin will go into new bitcoin investments at lower prices as well as other investments such as Real Estate. Investments will grow and not just be in one basket. This is an example of the correct application of diversification, because diversification is not only on one investment platform but on different platforms which can also provide large profits.

Patrol69

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You are investing bitcoin every month or when you have money in hand, but you have not shared in your post what your goals are with this bitcoin. You have not shared anything here about how long you will invest in bitcoins or how long you will hold your bitcoins. However, since you have continued to invest in Bitcoin so far, I believe that you may continue your investment for a longer period of time and hold your investment for a longer period of time. Set a goal in life.
Think about what you will do when you get a profit from this investment at the end of a certain period of time. When you sell all your investments at a good amount of profit, you can wait for a good time again, if the market comes back in a good condition to invest, then you can certainly invest at that time and hold it for a long time. This is how you can move forward with your investment.

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

I may reach my Bitcoin goal very soon all thanks to majorly the Dollar Cost Averaging strategy. I have been investing some specific amount into Bitcoin every month since the past couple of years. I have been at least 80% consistent in doing that through the dips and the funds and the bears and the pumps. The question that's been on my heart is what do I do when I finally reach this goal: set a new one and DCA or just keep DCAing without any goal in mind. If you have reached reached your Bitcoin goal what did you do after then?

Maybe I could say that I was greedy because after reaching my goal, I made another one higher. But I think it was normal for someone who is still alive and wants to secure the future of their kids and family. It is normal thinking and we just stop making another plan when can't do anymore. So if I reach my goal of getting 1BTC and if I still have the chance, then I'll be getting it. With the use of the DCA strategy, it seems to come to reality but yes, it needs passion and dedication for this will not going it happen if there is no execution.

Dunamisx

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Could one's bitcoin goal actually get fulfilled completely, when we invested ad make return then sell, we also try to enter into another market and so we keep moving, bitcoin is not a one way direction currency we can do at once and forget about it, we keep investing in it repeatedly over time and we continue to have more reasons to continue with bitcoin, one thing that should also be considered is in knowing how bitcoin rises in value and remain consistent in it, this places us with using bitcoin each time in getting our goals achieved.

Gallar

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Quote from: alastantiger on September 08, 2023, 02:50:07 PM

~Snip
The question that's been on my heart is what do I do when I finally reach this goal: set a new one and DCA or just keep DCAing without any goal in mind.

In my opinion, applying the DCA system to bitcoin purchases is a good technique. So my suggestion is that before the bullish market arrives, you can continue to make purchases using the DCA technique. Because it is very likely that this will have the potential to generate profits when the bull market comes. And one more suggestion, regarding goals or targets, you should be able to determine them from now on. Like deciding to sell the bitcoins you have at what price. Because by having a goal, your bitcoin investment will definitely be more focused and measurable.

Quote from: alastantiger on September 08, 2023, 02:50:07 PM

If you have reached reached your Bitcoin goal what did you do after then?

If I have reached the target (price) in bitcoin investment in this phase. Of course I will sell the bitcoins I have first. After that, I will set aside the capital I used when buying bitcoin, to buy it back into bitcoin, when the price of bitcoin starts to fall again. And I will use the remaining money from selling bitcoins for my investment capital in the real estate sector. Maybe that's generally what I would do.

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