I asked this question about a month ago when I was finalising my 2021 detailed trading plan for Crypto. It wasn’t just for fun - it was to establish a plan against which I can measure my actual performance.
I spend an inordinate amount of time watching Youtube videos on the subject of crypto and have made my plan estimate of the value of BTC based on what I consider to be a reasonable consensus of those “estimates”.
Actual at start of year USD28,000
Planned at end of year USD150,000
Difference per week, linear regression, rounded USD2,400 per week
So against these figures, I have a quantity of BTC that I own at the start of the year, and a quantity I plan to own at the end of the year. I use these fiat numbers as a yardstick against which to measure my PLAN, but I will be satisfied if I manage to achieve the end results in quantity of BTC at the end of the year, not in fiat USD terms.
I did not come to this conclusion lightly, nor rapidly. It is the same philosophy as seems to be prevalent with successful traders I have observed over the past 20 years. Instead of thinking in terms of USD, EUR or GBP depending on the jurisdiction in which you spend your currency, I prefer to plan in units of account relating to the underlying asset. So I think in kg of silver, ounces of gold and quantities of Bitcoin. Without this mindset, I doubt I would be able to strategise, plan and achieve. It’s just the way I have always done things.