Phsycological Purchasing Tip

During the previous bear run I utilized the following approach to make BTC purchases:

I used purchases to maintain my account balance in terms of dollars. For example let’s say I started with a purchase value of $50,000. As the price of BTC plummeted I continued to make BTC purchases to maintain the $50,000 account balance. If BTC price fell by 5% I’d make another purchase to get the account balance back up to $50,000.

This approach proved to be helpful for two reasons. First, it kept me buying while blood was freely flowing in the streets. Second, maintaining the account balance at $50,000 was just enough to trick my mind into thinking I wasn’t losing value. This mind trick (as simple as it is) was enough to withstand the urge to panic sell.

Certainly not for everyone, but thought I would share in case someone could potentially benefit from a similar tactic.