Did I Win Or Lose - Don't Wait For The Perfect Moment

This week has been like a roller coaster ride for me because of what has been happening with Bitcoin. Most likely I'm not the only one enjoying the ride, most likely (or definitely) others are watching the market, prepared to jump in, or out at the right moment. This is how it works. Bitcoin is know for its volatility, so you can be prepared for everything.

Twice In One Week

Tuesday was the day when Bitcoin fall below $50,000 and reached $45,393. It was the perfect occasion for me that I've been waiting for, so I rushed to the ATM to grab some BTC. The miracle lasted a few hours and till evening, the price was back to over $50,000 again.

Last night there were signs again, that the price could drop and when I woke up saw that it's time to take a trip to the ATM again and do some shopping. This time I was able to get BTC even cheaper than on Tuesday.

Did I Win Or Lose

Many would calculate how much is the difference between the two buys and consider the result as a loss as I could have bought all at the price of today. While this is true, it doesn't work like that in real life or not for me anyway.

Unlike Hive, BTC must be bought with fiat or other crypto. Obviously there is the earning possibility as well, but it's not that easy.

If you have a huge stash of cash, you can invest it all at once. If you're using your savings or monthly incomes, fiat comes in periodically, thus your investments are also periodical.

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The chart above is for the last week, it's clearly visible where the dips are and also that it's going up again. At the time of writing, the price is up again, reaching the level I paid for it on Tuesday.

For me this is certainly not a loss. Bitcoin is a long term investment, so the price difference that exists now between the two buys is basically nothing.

Don't Wait For The Perfect Moment

Perfect moment sounds great and probably there's a perfect moment, but you only know afterwards, when it may be too late, and trust me, most of the time it is. The perfect moment was when BTC was $0.8, or $1,000 or $5,000 or even $40,000 as we can compare it to its ATH, which is over $58,000. All those ships have sailed. It may be possible to see BTC at $40,000, who knows, but $5,000 and $1,000 or lower is never going to happen.

So waiting for the perfect moment is just not possible, you need to make up your mind and make the move.

Fun ATM Facts

Today I wanted to see if it's possible to feed the ATM with different type of currencies for the same transactions, so I used EUR and local fiat, RON. The ATM is converting foreign currency to local fiat anyway and displaying the amount you put in in local fiat. So it's possible, you can use up to 6 fiat types (CHF, EUR, GBP, HUF, RON, USD). Isn't that cool? So you just save up what you can, then throw it into the ATM.

The other good thing is that the amount of local currency available to withdraw is specified on the display. If you need to withdraw a larger amount and the ATM is running out of cash, the ATM operator is restocking the ATM the next day and you can withdraw the rest later.

The next one is not so fun. Although you can buy BTC with the above mentioned currencies, you can only withdraw local currency, RON. This is the law, at the fiat ATMs you can also withdraw only RON. It's possible to withdraw EUR or any other currency at any bank, if you have an account for that type of currency. Selling BTC or any other crypto for other than local currency is not possible.

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