Yes, I know. Sometimes I'm inconsistent and I made quick decisions on the go.
Yesterday we had a pretty violent correction (which I was waiting for a week or so) and decided to give a little 'twist' to the challenge. Deposited ~2500$ from other sources into Bitcoin buying at an average price of 35K$ (I should have waited a little more)
From now on I'll not only focus on simply 'hodling btc', I'll also try to trade the market only with the funds that I'm able able to borrow through Venus in BSC.
The number stays as follows with the latest big chunk added:
Almost forgot to mention that in the middle of this year I'll probably need some spare money to face a few payments, and I thought that this hodling challenge could be a great way to 'force myself to hold'.
Think about it (I feel like it's a great plan):
-Then you borrow a desired amount of assets, in this case, I'm borrowing 1600 BUSD and I still have a 50% collateralization ratio, which is my ability to keep borrowing money (I could double the amount or afford a ~45% retrace in BTC price from the 34K$ levels so In practice I'm safe).
Then you use pancakeswap to swap your BUSD for ETH & BNB (to have bluechip-alts exposure in my case).
Then you can deposit your assets into a pool (traphouse/pancake, whichever suits you better) and Beefy to automatically compound your earnings. I'm currently receiving a 0,13% DAILY for holding ETH+BNB. Crazy.
Not to mention if ETH/BNB prices increase (I'm perfectly OK being underwater for a while).
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