Profit or Loss?

This month I decided to set up my pension fund and start accumulating. As a monthly contribution I thought to add $20 in BTC and the same amount in ETH, but for some unknown reason this month I thought why not do $40 worth BTC and $40 ETH. This was the plan, but in reality I've managed to do $40 worth BTC and only $30 ETH. It's not a tragedy, I can compensate next month as no one is controlling what I do, my conscience is the only one that I have to deal with.

As this is a monthly plan, obviously it is affected by price swings, but as it is a long term plan, I'm not concerned very much about it at this point.

Profit or Loss?

I'm happy to say, so far so good. I could not be more happier! Right now BTC is having a small pullback, sitting on support right now and there are two scenarios as always. It can go up to the $41k region, or it can go lower, to $34k, $35k region.

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My entry price for BTC is $31,800, which is great as I'm in profit. At the time of writing BTC is at around $38,800, that is roughly 21.5% profit. I'm really satisfied with it, have no reason to complain.

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My ETH is in an even better situation as my entry price is around $1840 and ETH is at $2338 at the time of writing, which means around 25% profit.

What's Next?

Next is the right mindset first of all. BTC has been playing with us for the last few days, ranging between $40,800 and $39,600 or so, up and down, up and down on a daily bases. If we get a retrace to lower levels, no matter how low, I need to be ready to buy my monthly set, or even more as who knows how long it's going to stay there.

If it goes up to $41k or even $48k as many of the chartists are predicting, I will need to find a level at which to buy.

I need to stay focused and also be consistent, continue my investment plan and accumulate. Price will go p and down all the time. Dollar cost averaging has less importance here as all that counts is how much USD I've invested, how much BTC and ETH I've got and how much it worth.

Stay Strong!

I've written about this in my previous posts and I need to stress the importance of it again. Never trade your retirement funds! I've been tempted to do it, said no and was right! In time my determination is getting stronger and sticking to the rules becomes easier.

What about you? Are you setting up your retirement fund? I've got a few comments to my initial post, a few of you have thought it's a good idea. Let me know if you are working on it. It would be great to see many people securing their future.

In a year or two, when BTC is going to be over $100k or even $200k as it is predicted, my entry price at $38k or $41k won't matter much. Just think about those who entered last year or two years ago, buying BTC at $5k, $7k or $10k. How much profit are they sitting in right now?

And the price is just one aspect. After El Salvador accepting BTC as legal tender, Kazakhstan and Paraguay is looking to do the same thing.

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