Bitcoin at $32k!!! To Be Smartly Greedy or Super Greedy?
Do you know what's cool? Bitcoin at $32k! what's even cooler? There are 17.5million bitcoins in circulation at the time of writing this post, out of 21million Bitcoins that can be ever mined, if you realize that there are 7.8 billion people in the world, if you own at least 0.1Bitcoin, you're among the upcoming wealthy hands the future will reckon with.
I bought my first Bitcoin at $15,000. I wrote about it here, one of the advantages of finance blogging is that it helps you keep track of your moves/investment, well at least it did/does for me, whether my portfolio goes down the drain or not, I'm able to make references, analysis and if I'm paying attention, I'm able to make better decisions going forward. And even more, I easily share my thoughts with people - friends and social network who are curious through my posts.
Given that the 15k price was quite below the past all time highs, I still felt I was late to the game, I mean, I could have bought at 3k in March 2020, or 7k in August, or 10k in September, but I had to wait till 15k, anyway, do I still feel I was late? Sort of, but looking at the current Bitcoin price at $32k, I don't feel late anymore, Infact the only feeling I have is telling myself that I should have bought more, because my initial investment just doubled.
Anyway at what point do we admit that Bitcoin is currently not following patterns anymore looking st the price action from this junction, a lot of elite Bitcoin holders have called a price in, a lot have signalled for an imminent crash but at every point, Bitcoin only jumps a couple of hundred dollars higher, it has now officially become the most stressful time to trade bitcoin.
By the looks of things, if Bitcoin crashes from here to 20k there is risk of liquidation for those who bought at 20k levels, however, if it keeps going in upward momentum, there will still be a lot of profit to take, the question then though is for how long. That is one question nobody is ever able to answer. I have two choices,
- be smartly greedy and sell my initial investment
- be super greedy and hodl
What will be practical for me to do will be to be smartly greedy, take out the initial investment, leave the profit to keep accumulating, if there's a crash, buy back in with the initial investment. Don't forget the goal, which is to grind up the Bitcoin portfolio till 1bitcoin is owned.
The year surely started off on a loud note, the coolest thing is that out of the 7.6 billion people in the world,if you're reading this post, you're already among the lucky few who saw bitcoin at 32k before hitting 100k. What you do with that information is entirely up to you.
May the Cryptos be with us. Thanks for reading....
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