I'm not entirely sure what to write, but here is me thinking of it as a chance to share my thoughts and remind myself to stay on course, especially in this treacherous crypto market. Who knows what the near future holds, especially after the halving.
It's a reality check for me, a moment to sober up before the frenzy.
Recently, I made another Bitcoin order at around $65,000, with a couple thousand dollars. With Bitcoin's current price hovering around $300, is now the time to sell and buy back lower? When I see a $300 profit, part of me thinks it's too small to bother collecting the profit. People are saying it will go higher.
So, the real question is, how much profit is enough for me to take the leap and never look back, and just wait for the next bear market to pick up the token cheaply? This profit taking dilemma is taking a toil on me.
My mind is buzzing with ideas. I've considered setting sell orders at various prices to secure profits. But before that, I need to reconcile with myself about what constitutes a satisfactory profit for my risk profile.
One simple approach is to wait for my current value to double, then withdraw the equivalent of the initial investment and let the rest ride for more profits. It's conservative; at least I wouldn't lose anything.
Another idea is to aim to earn enough to counter inflation for the next ten years. If I achieve that, I can confidently say my money isn't losing to inflation.
This post feels like therapy, a way to sort through my confusion as I gear up for the bull market. And that's not a bad thing. Maybe you can give me some ideas?
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Disclaimer: This is not financial advice, and you should always do your own due diligence before investing!