Community post
Little BITCOIN HODLING CHALLENGE!
What's new?
In my @finacialgoals2021, I argued that one of my goals was to start accumulating BTC.
My financialgoals2021 post: https://leofinance.io/@queengaga/my-financial-goals-2021-yeah
I started to make my first purchases of BTC in 2019 and accumulated about 0.4 BTC. In 2020 I distributed my bitcoins in other currencies until I was at 0 BTC.
I have seen the value of Bitcoin quadruple since I stopped owning this currency, including the spectacular rise in the last two weeks. I have never seen a bull run like this before. And I have been left with the "bug" of accumulating BTC.
After the last few days, we have seen BTC hitting all-time highs on the charts day after day. Today it seems that it has corrected the price a little. The price has fallen to ~10K in just one day...
That is why I wanted to explain, that I take advantage of this drop to embark on a challenge that was proposed by @resiliencia and @empoderat.
About a month ago these well-known users exposed the idea of starting to accumulate small amounts of bitcoin with the main purpose of accumulating for an indefinite season. I have been following their publications these last weeks and both seem to have obtained good results. Between them they agreed to make weekly purchases of between $50~200 in a "holding wallet" as discussed in the following posts.
Is this a good time to accumulate BTC?
<< Another topic question... >>
IT IS ALWAYS A GOOD TIME to accumulate BTC whatever the price.
THIS IS MY TURN
<< MY LITTLE BITCOIN HODLING CHALLENGE >>
That's why I'm willing to accumulate it a little bit every week. I will adjust the amounts at my free disposal. In principle, I plan to invest a minimum of 100 whenever I get the fever of the FOMO.
I will report my progress weekly. I will display my data on a spreadsheet, as well as displaying @resiliencia and @empoderat.
Proposal of the movement:
https://leofinance.io/@resiliencia/dollar-cost-averaging-with-bitcoin-episode-1
https://leofinance.io/@empoderat/bitcoin-hodling-challenge-introduction
I will experience this form of accumulation over a period of time indefinitely. The aim is to get better results from my portfolio.
Anyway, I'm getting on the boat of it guys. I hope that you will encourage us to follow this challenge and that we will be more and more.
Thanks for reading me. ;)
Posted Using LeoFinance Beta
Replies (8)
Every time it is a good time to start to accumulate BTC.
Sometime ago I have done some trades to grow my BTC amount but after that I stop it and decided to only accumulate BTC with dca and trades in alts needs to be with fresh money to not take the risk to lose some sats.
Posted Using LeoFinance Beta
sorry man i prefer invest in ltc, ada, block hive, and of course leo.
slowly slowly and or course dogecoin
btc is to expensive right now.
Posted Using LeoFinance Beta
The truth is that I understand that this happens with ether, at the moment it has a very high cost in transactions. And, I don't think I understand the acronym DCA. I'm sorry.
Posted Using LeoFinance Beta
In my opinion, I feel good accumulating BTC. As long as I am clear that it is not money to be taken out, but to accumulate in the long term or to play with it, at a given moment.
Posted Using LeoFinance Beta
DCA it is dollar cost average
Posted Using LeoFinance Beta
Recommend to try Venus in Binance Smart Chain to compound urself. A 5-10% yearly is easy.
For the weekly deposits, you can deposit through Binance doing a bank transfer without minimum (saving 1,5-5€ in fees).
Posted Using LeoFinance Beta
So interesant, I have realized that I must rethink the way I accumulate my btc, so I might be interested in your proposal. Thank you my friend.
Posted Using LeoFinance Beta
A mi no e able asin eh te via hakiar
Parlam en català cony, que semblem desconeguts tsé