I bought a bunch of bitcoin for under $100 each and sold them for ~$1000 each at one point.
Should I have held them longer? Sure, but how could anyone really know that? How do you resist the urge to realize the >10x gain in a short term?
After it went up to ~1200 it crashed down to 200-300 for years before it recovered and skyrocketed to new heights.
If you had bought bitcoin for something low like say $100, are you telling me you would really have resisted selling it when it hit $1000? or $2000? How about when it hit $10,000 or $25,000 or even $50,000? Knowing that it could come crashing down at any second as well.
The peak was nearly 70K, and now it's only about half that.
1. Until USD inevitably collapses under the weight of its own indebtedness and fraud.
2. Yes, you made a mistake. Use the "Rake Method" many of us have preached for a decade. No guessing needed, profit taking can even be automated. It's all very simple.
3. Yes, a great buying opportunity.
4. Yes, I bought a lot around $150's. Using the rake method you can't go wrong. If it's more cash than I need I buy gold. Easy. Angin, the research is already done, and we have a solution to your issues, the rake method.
Comments
It's not that simple...
How do you know how long to hold?
I bought a bunch of bitcoin for under $100 each and sold them for ~$1000 each at one point.
Should I have held them longer? Sure, but how could anyone really know that? How do you resist the urge to realize the >10x gain in a short term?
After it went up to ~1200 it crashed down to 200-300 for years before it recovered and skyrocketed to new heights.
If you had bought bitcoin for something low like say $100, are you telling me you would really have resisted selling it when it hit $1000? or $2000? How about when it hit $10,000 or $25,000 or even $50,000? Knowing that it could come crashing down at any second as well.
The peak was nearly 70K, and now it's only about half that.
So simply holding isn't a complete strategy.
1. Until USD inevitably collapses under the weight of its own indebtedness and fraud.
2. Yes, you made a mistake. Use the "Rake Method" many of us have preached for a decade. No guessing needed, profit taking can even be automated. It's all very simple.
3. Yes, a great buying opportunity.
4. Yes, I bought a lot around $150's. Using the rake method you can't go wrong. If it's more cash than I need I buy gold. Easy. Angin, the research is already done, and we have a solution to your issues, the rake method.
I assume you have a net worth > $100M right? as it's so easy.