@BitcoinBaby
more from that month
BItCoin Beginner - Day 17 "The Rise & Fall"
What goes up..... Early January the BTC was rising like crazy, passing the $40K and all my cheap trading coins turned bloody red. My trading portfolio dropped from (don´t laugh I am a Bitcoin Beginner) 0.0103 BTC (worth $307 at that time) to below the 0.0080 BTC. Which was less than I started with, but my 0.078 BTC was now worth $380 while I started my portfolio with $220. So now i am confused??? Do I want dollars, or do I want the BTC value of my portfolio to be up and not give a damn about the dollar? Because it seems I can´t have both?
Newton´s law Newton was right again. What goes up, will come down..... *Every time I am writing this I see a mental picture of Elon Musks rockets......but okay that´s probably just me.* And indeed after hitting that 42K mark Bitcoin dropped like crazy to 30K by the 21st of January . At that time I had recovered a little of my portfolio´s BTC value (0.0085 BTC worth $265). But that means I was just $40 dollars short from starting all over again. Thank God I did not quit my day-job yet. https://www.cnbc.com/2021/01/21/bitcoin-btc-price-falls-wiping-off-100b-from-entire-crypto-market.html *As I didn´t know Sht about trading, looking back I am impressed I was up at all. But as I keep saying "I am here to make the mistakes, so you don´t have to."* So much to learn It took me till early Feb to fully recover and get back to above that 0.001 BTC mark. Which as of now is the threshold I would like to stay above. The good thing is that this beginner learned another couple of expensive, but valuable lessons. **Lesson 1** I am in it for the BTC, because in the long run Old School money will keep loosing value and BTC will keep gaining.
**Lesson 2** Be careful what you buy during a BTC surge. Most coins are not able to keep up and will drop in value against BTC even though their value in $$$´s increases. So during last weeks BTC surges I only did some short time buying and selling (short time being a couple of hours instead of days). And I made sure to sell 60% of my portfolio during the first days of the surge. **The Results of my lessons learned** I was able to keep my portfolio above the 0,01 mark and even hit my all time high at 0.011. Even now while BTC is approaching 40K (oops already passed it) and whatever I´ve got left is all coloring dark red, my trading portfolio is still 0.0107 BTC value representing $432. Guess now I will just have to be patient and wait till BTC stops surging and most other coins stop dropping, before I can start investing my expensive Bitcoins in cheap Shitcoins again. https://www.investopedia.com/terms/s/shitcoin.asp#:~:text=A%20shitcoin%20is%20a%20cryptocurrency,developed%20after%20bitcoins%20became%20popular.
**More Bitcoin Baby** Below the link to my previous blog **BitcoinBaby Day 16 - "I sold all my Crypto Part 3 (Final)"** https://read.cash/@BitcoinBaby/bitcoinbaby-day-16-i-sold-all-my-crypto-part-3-final-3644d85d Or start reading about my crypto experience from day one. ****BitCoin Baby - Day 1 "Welcome to Crypto"**** https://read.cash/@BitcoinBaby/bitcoin-baby-day-1-welcome-to-crypto-03adcb5a Thanks for the read...and have a lovely day! **Disclaimer** I do not have any connection with any company I am writing about. I am not being paid to write this article. If you like my content, please hit like and subscribe. Because more Bitcoin baby Mistakes are coming...... Feel free to provide tips, comments, feedback, anything.....? Remember that sharing will improve life in general! Direct Donations are always welcome to keep me going: BTC: bc1qdsrg7qaefxvel6hn6mjemjd4c8jjs40sasyvkp ETH: 0x4216fEC23Ae7A7d9c46143Ce56C3e8f301F9868c Bitcoincash:qqesav8kuwcrhl4y8qs9zfjg90cf8dnlkyz43u9w6u
No comments yet