A few of you may remember me holding Bitcoin in my SMSF with dear heart.
I have decided to sell all as we speak.
It was a journey holding for so long.
I will be back end of next year.
I feel market has peaked for this cycle and $50K is incoming by next year end when I want to buy again with my SMSF. Right now, I am done!
1 guy sells 24,000 BTC and you get paper hands
Diamante hands.
bitcoin doesn't care
Dear diary…
I also use my feelings as the main determinant of my investment decisions.
It’s not like you can analyse the fundamentals of btc.
You can not analyse Bitcoin the traditional way you can analyse other things. I am convinced of that.
I know humans are greedy. I am super greedy. That is why I am so poor.
I know the Bitcoin cycle will continue because humans are greedy. And it will again be the similar cycle. That is what I believe.
Hence, I believe Bitcoin bull market is finished.
And I sold. I do not know need to state publicly.
Markets are, in part, a psychological profile of the masses…not just yourself, which is what appears you're basing your exit decision on.
If not for the fearful and greedy masses, market makers on the other side of everyone's trades wouldn't be as profitable. People who lose money FOMO buy in at the (parabolic) top when the market is in euphoria. You would be right to sell at that top, but you missed it and you're wanting to sell now AFTER a correction, fearful of further losses or losing more relative profit. It could drop further, but 110k was a good place to DCA.
@BoltThrower: How I wish I could know exact date and time and price of exact top? I wish…
I am content at what I got.
I am now waiting for drop
How I wish I could know exact date and time and price of exact top
This line of thinking shows total noob market illiteracy and demonstrates exactly why you need to spend more time learning and less time gambling. If everyone knew the exact date, time and price of the top, don't you think everyone would be doing it? smh
ive heard cooler stories bro
I heard cooler and worse stories as well.
Crypto is so much fun yet so much pain
Damn, logged into OzBlogposts by accident again…
Um… Congratulations?? I think?
If it’s coming down that quick and it is at its peak, why don’t you short it? I don’t know what I am saying, just using cool investor speak… can you even short crypto
You can short crypto. However, I am trading using my super fund. There I am not allowed to short or leverage. Only buy and hold. That I did for a while. Now time to offload and say bye bye. See you next year end
@ATO lol
It is done through SMSF and is fully compliant with all ATO. I have to pay huge fees just to run this year after year
Well it is a smart decision financially regardless of the time.
I'm not sure why you'd buy in again though. It doesn't just magically fall so that people can speculatively buy. Usually it just means that people are wising up and jumping off the bandwagon and further falls are likely.
If there was some merit to the tech you could hold it, but there isn't, so it would be a bad idea to keep holding.
I believe I will be able to buy it at $50K around end of next year and sell again above $420K in 2029. My SMSF will like it if that happens again. I am sure ozbargain will be here. And I might post back then. Holders of BTC in good time.
This isn't an airport. You don't need to announce your departure.
He sold. Pamp Eet
He will regret this in two months.
https://www.ozbargain.com.au/comment/16608930/redir
so much for dear life.