Hindsight is 20/20 in 2020
It seems like every year is considered a critical year for the Bitcoin, Ethereum, and it's group of misfit bandits and this year is no different! With every one's eyes on Bitcoin as the halving approaches, the seasoned investors are dollar cost averaging, blogging, and developing quietly.
I'm absolutely obsessed with everything about this space and spend hours a day pondering what's the best short and long term play for securing my financial freedom, and having a little fun while doing it. In the past I normally made a bulk purchase several times a year that were mainly fueled by emotion, so this time I decided to just etch my plan into stone and flip the auto switch to the autopilot.
1. Bitcoin
I am currently disgustingly not diversified, with everything I own involved in the Steem Blockchain. I recently thought about powering down my larger account to buy Bitcoin, but thought about how we were one or two announcements away from gasping for air above $0.2, which would almost double my account value. I don't think we are going to see a $14k Bitcoin before then, so I ruled that out. Nope, I'm crashing and burning with my Steem with a huge smile on my face!
That decision didn't change the fact that buying up Bitcoin during Q1 and Q2 should be my biggest priority, so I am going to dollar cost average into BTC every week until I get to 0.5, or just buy half out right if we drop below 7K.
I think with at least half a Bitcoin, I can finally sleep better at night knowing i'll be apart of the biggest wealth transfers in history.
2. ETH + Defi
Once I secure 0.5 of a BTC, my plan is to put my remaining fiat into a stable coin like DAI, and lock it up into one of the many Defi options available to earn interest on it, while using the principle balance to dollar cost avg into ETH every week. I believe that ETH is going to explode in this next bull run due to the switch to proof of stake and the emergence of the Defi sector that is giving everyone on the planet access to build and compound their wealth through high interest loans and crypto credit lines.
However, my plan for Q1 and Q2 isn't to accumulate ETH. I'm hoping to continuously buy low and sell high, while reducing risk by just averaging in and swing trading. Although at these prices, ETH is a major steal, I don't think that we will see an immediate surge in price after the halving this time around, due to the many changes to our space like ETF's and margin trading, the publics increased general knowledge about Bitcoin, and the obvious manipulation.
I'm betting on being able to scoop up my 32 ETH during Q3!
Altcoins
I think I have more than enough Steem at the moment, so I am turning my attention to several Defi projects to invest my swing trade and stable coin interest profits in. My main focus for Q1 and Q2 is going to be Chainlink, which is a project I'm sure many of you in the SteemLeo community have heard of. It's working to connect various blockchains and smart contracts with each other, as well as entities and corporations not on the block chain like PayPal!
I'm not planning on implementing this plan for another week, so let me know what you think of my plan, as well as what your investment plan for 2020 is!
Note that this isn't investment advice and I'm not a financial advisor and blah blah blah. Do your own research, but feel free to ask me any questions if you don't know where to start!
Here's to another great day on the Steem Blockchain!
