Hi Mark, loving your work and trying to hang in with your plan but… Would you still keep buying under 29K (down to the 1400MA of approx 13K)? You say the only numbers that matter are 29K and 51K… Everyone has called the bottom at $28950, but what’s your take? Thanks for your dedication…
Hey Mark. Appreciate the perspective. I have to admit I was a mid to late subscriber to your plan. Long story short, I'm in the position of having taken profits on BTC right around the peak (thus far), feeling all powerful with my timing, only to dump them into alts, many which I question where was I when that guy made that decision? He should have known better I tell myself.
So up went the avg cost basis on my BTC stack, down went BTC dangerously approaching my new cost avg, and there go my profits down with alts that I, I mean, this other guy, decided to buy around their tops.
Patience is a virtue but I wonder if I'm waiting just for some of these to bottom out at zero?
Don't really have any moves left. And to think, I was gearing up for DeFi Summer '21. Feels more like a cold winter chill .. 😬
Things got razor thin really quick! We shall see. Right?
Hey. Yes that's a tough one. I did the same thing in 2017. Got in around November, everything went crazy, then I sold my initial investment for cash then bought XRP, ADA, ETHLend (now AAVE) and a few others. "Free money" I thought.
Ended up owing more in capital gains taxes than my portfolio was worth after the crash.
Depending on what you have, you may want to cut your losses. Some altcoins recover an do amazing things, some will never go back to ATH. Some of the biggest alts will never go back to ATHs. Email me mark@markhelfman.com if you want my non-financial advice on which ones to ditch, I'm familiar with most of the well-known ones and some of the obscure ones, happy to offer my thoughts.
Hi Mark, loving your work and trying to hang in with your plan but… Would you still keep buying under 29K (down to the 1400MA of approx 13K)? You say the only numbers that matter are 29K and 51K… Everyone has called the bottom at $28950, but what’s your take? Thanks for your dedication…
Below $28950 is possible. I would definitely keep buying bitcoin below $29k but my bias would change to bearish. Let's hope we don't have to find out.
In for the long haul for sure!
Hey Mark. Appreciate the perspective. I have to admit I was a mid to late subscriber to your plan. Long story short, I'm in the position of having taken profits on BTC right around the peak (thus far), feeling all powerful with my timing, only to dump them into alts, many which I question where was I when that guy made that decision? He should have known better I tell myself.
So up went the avg cost basis on my BTC stack, down went BTC dangerously approaching my new cost avg, and there go my profits down with alts that I, I mean, this other guy, decided to buy around their tops.
Patience is a virtue but I wonder if I'm waiting just for some of these to bottom out at zero?
Don't really have any moves left. And to think, I was gearing up for DeFi Summer '21. Feels more like a cold winter chill .. 😬
Things got razor thin really quick! We shall see. Right?
Hey. Yes that's a tough one. I did the same thing in 2017. Got in around November, everything went crazy, then I sold my initial investment for cash then bought XRP, ADA, ETHLend (now AAVE) and a few others. "Free money" I thought.
Ended up owing more in capital gains taxes than my portfolio was worth after the crash.
Depending on what you have, you may want to cut your losses. Some altcoins recover an do amazing things, some will never go back to ATH. Some of the biggest alts will never go back to ATHs. Email me mark@markhelfman.com if you want my non-financial advice on which ones to ditch, I'm familiar with most of the well-known ones and some of the obscure ones, happy to offer my thoughts.