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josh11d ago
I capitulated. I learned some hard lessons. When bitcoin was at $104k, I took out a loan to pay for taxes and to buy more bitcoin. Bitcoin went up to $126k. I think I made a great decision. The loan I took out had already paid for itself, and then some. Bitcoin falls and closes below the bull market support band ($107k). I see Benjamin Cowen on YouTube confirm that he thinks we've entered the bear market. In the back of my head, I know it's true but I don't want to act on it. Bitcoin falls to $85k and Luke Gromen says he sold at $95k. My pride says he's wrong. Bitcoin crashes further to $72k. Margin call could happen soon, so I load up more collateral. I've been thinking about where to go from here for a while. Benjamin Cowen clearly sees another trend with this bear market rally. Time to make a decision. I'm going to have to pay back this loan in June or refinance. Decided to sell some bitcoin to pay back the loan. Really sucks. Major benefits: don't have to stress about whether to pay back the loan or buy bitcoin at these crazy low prices. Don't have to think about paying the loan and paying taxes together. Overall view: I think @c4eabae1…61cbc4e0's Strike offers an amazing product. I will use it again. I'm going to be smarter about when. An expensive lesson. Benjamin Cowen is almost always right lol.
💬 7 replies

Replies (7)

josh11d ago
Capitulated at $68.5k
0000 sats
Brunswick10d ago
Just keep DCAing
0000 sats
josh11d ago
Capitulated at $68.5k
0000 sats
sati11d ago
Come on! Are you getting paid to shill him? Cowen is been wrong so many time in the last market, I am not interested in trading stuff but last time he short eth lost all his possition. Same history all the time.... if you know how to trade go for it but if you only following some bozo don't be surprised when you loose money. All the time someone is right and others are wrong and it will interchange again...
0000 sats
The Tim11d ago
I made this mistake in 2021.. price crashed and I got liquidated. Lost almost my whole stack 😬 Stay humble, stack sats is the best advice. If I ever got a loan again I would be extremely conservative and assume that if there was an 80% drawdown I would still be safe..
0000 sats
Bitcoin Mises11d ago
Don’t use leverage. Remember we are all retarded. Just stay humble and stack sats.
0000 sats
Logen10d ago
Bitcoin fixes loans. Loans can never fix bitcoin.
0000 sats
Brunswick10d ago
Just keep DCAing
0000 sats