The Road to Owning 1 More Bitcoin !! (Report #5 | 31% Complete)

I always like to use my blog as a tool to reach certain goals tracking the progress while helping me keep disciplined toward it. A While back, I started a new goal of accumulating 1 more Bitcoin as I feel I don't nearly have enough of it and too often get tempted by much riskier altcoins...

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Time flies and it has been 4 months since my last report Link. Recently however, I did get some BTC back from Celsius which I already had completely written off. Instead of using it to go gamble on Altcoins, I used it to reach closer to my goal of owing 1 more full Bitcoin. So far, I'm quite pleased that I have started this challenge as it really helped me to keep very disciplined keeping those funds totally locked in BTC not allowing myself to take more speculative positions in Altcoins. In the end those do remain the best way to make some crazy gains but the ones that actually end up doing big multiples are rare and it's just not easy to have them. The reality is that Altcoins over the long term rarely outperform Bitcoins and for the ones that do, it's always after the big initial pump that it becomes clear.

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BTC Expectations
It looks right now that there simply is more demand than supply which makes the price slowly but surely trend to the upside. Something that I'm looking at closely is the volume profile as big spikes usually mean a top or a botton. If anything goes as normal, it should be a matter of time before there is a new BTC all-time high and once it gets above 100k, Retail will likely come jumping in again. So far this hasn't seem to be the case yet.

Accumulation Progress

I added just 0.1 BTC to my holdings on Coinbase along with 0.01 BTC on Binance and 0.02PBTC. this puts me at 31% complete of my goal. I have 0.1 BTC now in my Trust wallet, 0.1 BTC on Coinbase and 0.07 BTC on Binance. Added to this I ahave 0.01 on the BNB Chain and 0.03 in PBTC which I still need to convert.

Timeframe for Reaching 1 BTC Goal
At this point, everything pretty much depends on Altcoin Season and having potentially 1 or 2 winners that can do crazy multiples still. If that happens, I will put part back in BTC as a hold and I potentially could reach the 1 BTC total all at once given how crazy things potentially can get. I also still should get some funds back from FTX so that would be a nice once it happens.

Previous posts

Date	BTC Accumulated	% Complete	Post
12/12/2022	0.085 BTC	8.5%	[Link]
23/03/2023	0.140 BTC	14%	[Link]
06/04/2023	0.160 BTC	16%	[Link]
02/11/2023	0.180 BTC	18%	[Link]
22/02/2024	0.310 BTC	31%	[Link]

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Conclusion

I continue to grind along and if I don't lose any of my coins the goal will be reached at some point as I have set myself to fully stay clear of touching these coins for quite a while. It will likely be at least another couple of months and maybe more before I make the next update hopefully with some nice progress.

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