silverpv wrote:Long John wrote:No, I was asking abut EVX in particular. I didn't know you were reacting to the general crypto market, when I asked the question. I did the same thing about reducing exposure in December. At the time, selling BTC at $17,500 was almost heresy, because who would want to miss $20K?
What are your thoughts on exiting when where how?
Leading up to this point, first I recouped the fiat I had put into crypto, then I cashed out enough to cover some expensive dental work (mere keystrokes and mouse clicks from directly spending crypto). Those actions were when BTC was under $10K. Later I spent 1 BTC on some gold at Provident. Finally last month I cashed out the remainder except for a couple BTC that I had stored offline. I say "cashed out" but I actually kept the cash on GDAX to launch the crypto trading project, since the cash I collected from my partners was slow to move during the holiday week.
Anyway, by Jan. 1 my crypto position was reduced to the offline HODL wallet (which I've been adding to during these deep dips) and my $5K stake in the trading project. Moving forward, of course the $5K is locked in for the year. No exit there! As for the HODL wallet, well, HODL doesn't mean until I die (to me). If Bitcoin returns to its previous dizzying heights, I may well take some profit there. I don't have a specific target in mind. I have a general idea that I want to keep at least 1 or 2 BTC for the long haul.
Before Bitcoin turned on the afterburners last summer, I consolidated most of my alts into BTC. Some of those alts later turned on their afterburners, too. ETH, NEO, others. But BTC's performance was plenty of consolation. Would I do that now? I think so, considering BTC is in bear mode. The market has changed, so 10X in a year is not in the cards, but a return to near $20K is quite possible, even probable to hear some smart people tell it. But first we have to get through a period in which it could fall even farther than it has. I diversified my project's position to include a few alts I feel good about, but if the ratios allow me to turn them into appreciably more BTC than I put into them, I'll do it. Exiting, however, is not an option for the $27K total that's in that project.