onchaintrader
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- Joined
- Dec 26, 2021
- Messages
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Hi everyone,
I saved money from wage slaving, and dollar cost averaged into the market in mid-late 2020 with around $5K.
After many successful moves (selling tops and buying bottoms (sold April top, bought July Bottom, sold November top, getting big airdrops etc), it turned a bit more than $100K.
In my opinon, the market doesn't have much energy left. Even if BTC keeps going to $100K, that's just a 2x from here.
I believe it has more chance to turn back to $10K-$20K than going up. So I have everything into stablecoins.
Here are the options that I thought about:
1. Sell 50% into fiat, get hit with taxes (40%) and buy the top of the stock market (S&P 500 ETF) with it, and pray while waiting for a BTC desperation bottom. Use the other 20% stablecoins for yielding interest, and keep 30% as is, in stablecoins.
2. Hold 100% in stablecoins until a BTC bottom, and pray that there's no new regulations that implodes stablecoins. If I don't sell into fiat, I don't get taxed. So I could buy the bottom with 100% of my dry powder.
3. Sell everything into actual fiat, pay heavy taxes, and just wait the btc bottom.At least it would be safe in my bank account and no risk of hack / theft / regulations etc.
I just don't see other options, and I don't know what to do with such a large amount of money (for me).
My goal is to turn $100k into a few million dollars with another crypto cycle (by 2025-2026 something along those lines), invest that money in dividend stocks and quit the rat race forever.
Any advice? What should I do in the mean time with that $100K?
Thank you
I saved money from wage slaving, and dollar cost averaged into the market in mid-late 2020 with around $5K.
After many successful moves (selling tops and buying bottoms (sold April top, bought July Bottom, sold November top, getting big airdrops etc), it turned a bit more than $100K.
In my opinon, the market doesn't have much energy left. Even if BTC keeps going to $100K, that's just a 2x from here.
I believe it has more chance to turn back to $10K-$20K than going up. So I have everything into stablecoins.
Here are the options that I thought about:
1. Sell 50% into fiat, get hit with taxes (40%) and buy the top of the stock market (S&P 500 ETF) with it, and pray while waiting for a BTC desperation bottom. Use the other 20% stablecoins for yielding interest, and keep 30% as is, in stablecoins.
2. Hold 100% in stablecoins until a BTC bottom, and pray that there's no new regulations that implodes stablecoins. If I don't sell into fiat, I don't get taxed. So I could buy the bottom with 100% of my dry powder.
3. Sell everything into actual fiat, pay heavy taxes, and just wait the btc bottom.At least it would be safe in my bank account and no risk of hack / theft / regulations etc.
I just don't see other options, and I don't know what to do with such a large amount of money (for me).
My goal is to turn $100k into a few million dollars with another crypto cycle (by 2025-2026 something along those lines), invest that money in dividend stocks and quit the rat race forever.
Any advice? What should I do in the mean time with that $100K?
Thank you
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