/biz/ - Business & Finance

>>13199903
>every dip
>fuck this coin not buying, it's going lower
>moves up 15%
>god damn liquidating all my assets, remortgaging my house, time to buy
never change.

>>13199903
Unironically, yes.

Worst time to accumulate is right now.

>>13199960
Wrong, this plan occurred to me before the 15% move and I'm always looking for good ways to invest my salary. Bitcoin seemed to be a good choice before the 15% move and it seems to be a good choice now. Can you make a case for why it isn't?

>>13199989
Why? Because of the 15% move that perhaps you expect to be reversed?

Overall there seem to be some indications that the bear market is ending, and the coming recession will likely see a lot of capital shift from stocks to safer havens. Gold isn't dead yet, but crypto may take a part of it. Bitcoin happens to be the king of shitcoins and will be on the forefront.

>>13199903

>>13199903
Yes, start accumulating it right after a big fucking green candle. You are doing it right.

>>13199903
depends on your long-term strategy. let's play a scenario

>you accumulate 5 btc while it's ranging between $4500-6000
>it breaks $12000, at least doubling your investment. do you sell? take profits?
>it hits $20000, at least tripling your investment. do you sell? take profits?
>how much you have now?
>it 10x over late 2017 and is now $200,000. sell now?
what's the likelihood that you were able to hold this long?

>>13200327
forgot the other scenario
>it has a final shake-out and plunges to $3500 before doing the above
did you over-commit and don't have the iron hands you thought you did?

>>13200277
Wrong, this plan occurred to me before the 15% move and I'm always looking for good ways to invest my salary. Bitcoin seemed to be a good choice before the 15% move and it seems to be a good choice now.

The 15% move does suck because I'm not done accumulating, but if you're correct in assuming it will lose at least part of those 15% again, DCAing over several months should address that to some extent.

>>13200327
Thanks for the first thoughtful contribution!

I don't have a clearly defined cash-out strategy yet, particularly not so for Bitcoin, but I'm aware of the issue of taking profits as I got burned before and will deal with it as the time comes. I held 10 Bitcoins at some point and made a good profit but ultimately sold too early.

How exactly would you say does the cash-out strategy affect my short/medium term accumulation plan? I would probably limit myself to current prices and stop accumulating significantly if it starts to pump too much.

>>13200396
>How exactly would you say does the cash-out strategy affect my short/medium term accumulation plan?
it shouldn't. taking profits, especially after parabolic moves is never a bad idea. never completely exit positions during that profit taking though

>>13200465
Fair enough. I was in bad financial shape when I sold every last Bitcoin. That's no longer the case.

Well, to be honest, I actually wanted to buy some Litecoins, (like two a week for 4 months, just to get ahold of some and get myself going again into crypto) but I was waiting for it to reach 25 bucks.
What was the lowest it got? 26. A few days later, it reached 40 all of a sudden. Since then, I haven't had a clear strategy, haven't given much thought to it either.

But I did buy lots of XRPs in 2017, and I mean a lot, but I was new to this and had weak hands. I would have made 10x my initial investment of 2k USD.
What I'm saying is, if you're not serious about commiting, get out and start going to crypto meetups where different kinds of people will give you their take on the market

>>13199903

Yes. Absolutely yes. You have TWO MONTHS to gather as much Bitcoin as possible before we leave these price levels forever. With 10, you will make it, as the next boom will take us to the 100k range. However, be sure to sell percentages of your stack at predetermined prices on the way up. Most importantly, never sell everything you own, even if you think it's the top. Always hedge.

>>13199989

Enjoy poverty.

>>13200327
I plan to skim 10% off the top for every 100% it gains and invest it elsewhere until BTC bottoms out and then I reinvest with what I kept.

>>13200557
>>13200548
Thanks. Yes, accumulation will happen over the next 2 months, but maybe I'll have to settle for 5. But it's something.

>>13200557
here's my chart updated to today

>>13200816

thank you based chart-anon, saved

>>13200557
Remember when bitcoin used to be 16 grand? Remember how it came down after a while?

>>13201093

Yep, and after it pumps to 100k+ we'll bottom somewhere in the 10k-30k range. It's not hyperbole to say sub-10k prices are here for a very limited time.