My foray into Bitcoin began back in August of 2017. By September, I had a little over .43 Bitcoin but I sold it at a slight loss because of the China ban FUD. I used that money for projects on the house instead of buying back in. (I thought 4.7k was the top and that Bitcoin would just get cheaper)
My next purchase was at the end of October when I FOMOed back in. I continued to DCA and buy Bitcoin periodically each month all the way up and down.
Like most folks, I was up significantly in Dec/ early Jan and then I watched as my unrealized profits melted away. I told myself I had learned my lesson and that I wasn't going to panic sell again…
But it turns out I'm an undisciplined dumbass lol. I soon realized that losing "profits" feels a hell of a lot different than when you start "losing" your hard earned money.
On Feb 5th, I was at home when I saw the price in free fall. I sold @ $ 6,600, thinking I would be able to buy more at a lower price. I was right, but I underestimated the time it would take to recover. I took a nap and I didn't put in any buy orders. By the time I woke up, BTC was over 7k. I finally FOMOed back in 2 days later and lost .1 BTC in the process.
But! Today I'm happy to announce that despite my failed attempts at 'timing the market', I finally own 1 whole Bitcoin. I'm in the 21 Million club!
I believe Bitcoin:
- Is a good storage of value not controlled by banks or Government
- Has the potential to become revolutionary to how we view and exchange money
- Is a good hedge bet against the current monetary system
Onward and Upward!