I had a plan to sell half my BTC when fear and greed index exceeded 85%. I sold out at 2pm UK time on 4Mar24 when it was 86%. No doubt it will close one day above its previous ATH and continue upwards. But the last two months has taught me that I could not handle another Jan2022 where I got analysis paralysis and didn’t take the advice of Weiss ratings and sell half my portfolio. That ignorance of proper advice cost me about $50K of opportunity by inaction. Won’t get fooled again.
I have faith that even though there is strong resistance at 69k, it will eventually surpass 69k, like 75k. Because all whales know that if they can make the price ATH, the media will jump in and greed will increase dramatically, they can take a profit of 80 or even 90k. MicroStrategy bought 3000 bitcoins at 51K; it’s the signal that whales have a plan for everything.
Some times the best move is the move the gets you back into the right frame of mind. The effect something like this has on just your psyche can be profound, especially if you realized huge loses and are questioning your own merits.
Regardless, I think the opportunity in btc and eth in the coming 12-18 months will be game/life changing.
I agree with your sentiment, and I am far more confident that my plan for 2024/2025 is far more “realistic and robust” than my hopium plans following the manic phase at the end of 2021. By allocating 20% of the remaining portfolio to “very high risk components”, I also get to dream of getting to the moon in a lambo. That is my lottery part (WAGMI), whilst the other 80% of it has a far less ambitious outcome consistent with “hoping for the best and planning for the worst”. Onwards and upwards.
Blackrock is asking for permission to add BTC to other standard investment plays outside of just Bitcoin ETFs. Game changer. This is only the beginning.
I’m thinking of those days back in 2009. Why didn’t we buy BTC? Some people think like you: it is the highest price when it goes to $100, so we don’t need to buy it. But some people buy it because they love to take risks. Now, they are the winners.
And Mohammed Ali said once,
“He who is not courageous enough to take risk in his life will accomplish nothing in their life.”
That is why I gonna buy it when it will be $50k or $100k