I have now been investing in the bitcoin and cryptocurrency markets for a decent amount of time, and even to this day there is still one major thing that I continue to struggle with; it's my biggest weakness, but strangely enough it has become one of my strengths as well.
What possibly could this weakness be? Well in fact I would wager that most of the people reading this article will in fact share the same trait. This weakness is the never ending feeling that I don't have enough Bitcoin, Ethereum, or my other coins; that I haven't accumulated enough. You could call it a Bitcoin addiction.
My name is John and I have a Bitcoin addiction.
When I first got into bitcoin, my big goal was to eventually own 1 full bitcoin. Back then of course the price of bitcoin was cheaper than it is today, and seemed a little more achievable than it might seem for newcomers just entering the bitcoin market today. Thankfully with constant dollar cost averaging, and taking advantage of some great price dips I was able to achieve that goal. But the funny thing is that once I reached my goal of 1 bitcoin, I wasn't satisfied. So I thought I would then set my next goal for owning 2 full coins. Again through dollar cost averaging, taking advantage of some great price dips, and also taking gains from altcoins I was able to achieve that goal.
But as I"m sure you have already guess; again I wasn't satisfied. The more I accumulate; I find myself continuing to move my goal posts even further back. You could say that I'm never satisfied.
I'm like this for every coin that I strongly believe in, be it Bitcoin, Ethereum or some other coin. But what is the reason for this?
Well, it could very be that I have some sort of OCD in me; or have an obsessive/addictive personality, which very well be true. Also, throughout my life I have always loved collecting things such as sports/Pokemon cards, video games, book and more. I just really love growing a collection.
But it also could be that I strongly believe in the future of bitcoin, ethereum and a few other coins. I have done a significant amount of research and feel extremely confident in the direction that the future is probably heading towards, and that bitcoin will just continue to grow in importance even more. I have been trying my hardest and doing anything necessary to accumulate while the prices were still "cheap." Even to this day with prices at all-time highs, I still feel prices are very cheap for where things will be in a year or two.
It is our chance to accumulate an asset that could change our lives, and I view it as the cornerstone of my portfolio and possible retirement. My conviction in this thought grows stronger every day as we hear news of all the institutional buying that has been happening recently.
But it is always important to remember that the cryptocurrency market is extremely volatile and risky. If the prices were to drop significantly and never recover it will turn out that I made a very costly decision to accumulate so heavily.
What that said, during the recent price surge times; this extreme accumulation strategy of mine has paid off enormously. If the price continues to go up it will turn out that I probably made one of the best decisions in my life. But that is the tricky thing; we don't know the future, and we don't know where the prices will go.
However; I have put a lot of time learning and researching before making the decisions that I have and feel very happy with what I did. I would much rather lose money by going all-in on something that I truly believe, rather than missing out because I only went half-heartedly into something that I believed it. I would have some big regrets.
So I would love to know do you have a similar weakness in that you never feel satisfied with what you have accumulated!? And also, what are your bitcoin, ethereum and other crypto accumulating goals!?
As always, thank you for reading!