How I Intend to Become a Crypto Millionaire!
Using a Very Simple 2X Long Term BTC Strategy
Using a Very Simple 2X Long Term BTC Strategy
I had never officially owned any long term BTC holdings until somewhat recently.
2017–2020, I was mostly attempting to moon on Altcoins and meme-coins.
I decided it would be a good time to buy my first chunk of BTC.
A bit late to the party and BTC was having a bull run, I bought in during December of 2020, with BTC price being around $20,000 or so. I bought $10,000 worth, coming out to something like 0.49xxx BTC.
I almost bought BTC earlier in the year when the price was around $5900!
I talked myself out of buying it then, convincing myself I had more time and it might go even lower.
Kick. Self. Oh well.
My point in sharing that detail — it really doesn’t matter what the price is, this method can still work even if you think you are late to the party.
When BTC price rose above $15,000, I moved funds, and snagged some at around 20k.
I sold that BTC relatively quickly too.
I bought it, and when BTC continued to rise — I decided to set a limit order at 2x the value. I fully intended to just hold it, but something made me sell it.
Probably a little bit of impulsiveness in there.
This little day-trading gremlin in the back of my mind chattering “Always Take Profits!”
I bought into BTC in December of that year, and I sold off in less than 2 months.
I had turned my $10,000 into $20,000! (approx, after fees, etc)
I bought in again when BTC price was around $33,000, thinking I would likely be at a loss for a while until it might go up again — I put in all $20,000, and I set my limit order for nearly 2x. I set it for BTC price $60,000, and I almost changed it to $50,000.
All this wasn’t really a plan, I just did it. And I kind of had my doubts.
Within 5 months BTC price crossed the $60,000 mark, and the irony was — I was about to close the sell order and lower it right before that happened!
I was distracted for some reason and didn’t close my order, and boom — the order was placed.
I now had $37,000 or so, which was held as USDT for a few months.
Because I had now done this twice, I decided to roll with this method as my primary way of compounding my long term crypto holdings. Why not?
It’s hardly rocket science. It couldn’t be a more simple.
Didn’t require a course in trading.
The trick here is PATIENCE.
And as luck would have it, I’m great at being lazy, doing something, then completely ignoring that something for long periods of time!!!
PERFECT!
As long as BTC has an upward future, the method seemed pretty solid for me.
I almost bought BTC again while price was around $40,000, but then we had a sudden dip and BTC price fell back to $20,000, then all the way into $16,000 range, this gave me some big-ole wet soggy feet because I wasn’t sure how far BTC was going to fall.
Then price perked back up again quickly and I FOMO’d and bought in around $25k. I bought $38,000 worth in February of 2023.
I was big nervous this time.
What if BTC price did not rebound?
What if I have just undone what I had accomplished?
I decided to put my skin in the game for real this time, and become a long-term holder.
I set my limit order for $50,000, and maintained the conviction to not close it.
When the sell happened, my $38,000 would be $76,000 or so. (minus fees, transaction costs, etc).
This sell took an entire year, almost exactly.
My sell order happened in February of this year (2024).
I now had $76,000!
BTC price reached $60,000 shortly after, and a new all-time-high and then it went even higher.
I almost bought in again when BTC price was $70,0000, but decided to wait.
One of my trading bots got dropped off at the All Time High, and I was at a loss with my bots for a month or two, and I wanted to see if this was the end of this bull run before trying to buy in again.
How I Handled The Dip — Crypto Trading Bot Update — August 8th
I am feeling pretty good about a price recovery today.
When BTC price hit $55,000 a few weeks ago, I decided to buy in again and just wait, and set my limit order for BTC $100,000.
I really had no idea if this sell order would be sitting for months, a year, or even longer.
The election here in the USA really made me apprehensive of what to expect.
I was pretty sure if Trump won, we’d be having a Bitcoin party, but if the opposite were true, and Harris won, who knows what to expect. Probably a dip, due to the speculation on capital gains tax ideas impacting the crypto whales and creating a motive to sell-off, but …..I really had no idea what to really expect.
Would I just hold my BTC bag, no matter how far a future dip took us?
Or would we have a bull run in our near future?
And now we are here. Trump made his way into the office again.
BTC is blasting it’s way up!
Bulls are On Parade!
When and if BTC hits $100,000 this year and my current sell order happens, I will have $140,000 or so.
I could repeat this, strategically, again.
Lather, Rinse, Repeat.
I would not buy-in again immediately, unless some major Market-mover signal tells me otherwise.
Market-Mover Signals, Coin-Specific Signals, and Chain-Specific Signals, Oh My!
I prefer Market Movers personally, here is why.
I do anticipate another price drop at some point after this current bull market.
Historically, the charts in bull runs show what I now call “double spikes” and then the dip.
These are, of course, just patterns that I see, and not necessarily indicative of the future. Still, I can’t help but notice the similarity.
In 2018–2019, we had a small double peak, then again in 2020–2021, and now again in 2024 we might be riding either the last peak of the double peak, or still be somewhere on the first peak ascending, which is really exiting!
If my current sell order happens, I will hold and wait.
I think BTC will see 70k or lower again after reaching the new All Time High of somewhere over 100k, and price might even dip lower than that.
When price dips again, I will buy in again, and set my limit order for 2x.
Ideally I will be buying in around $55,000-60,000, and selling when it hits $100,000.
However — this will of course depend on the market, and plans may change!!!
Two Possible Plans:
A 2X Path to 1 Million
If I can turn $140,000 into $280,000 during the next year, and then $280,000 into $560,000 sometime after that, the next logical step is Crypto Millionaire status at the next major move, if I can flip $560,000 into $1,100,000 doing the same thing.
This of course depends on Bitcoin continuing an upward trend, over the next few years, or at least timing my buys to ride the next wave, even if it’s another repeat of this one at $50,000-$100,000 BTC price.
(knock on the nearest wood…. we have crested at $93,000, and there is no guarantee that we will hit $100k this year, or next…. but I am definately hopeful)
10 Trading Bots, all Running with $10,000 in them
I could also take that $140,000, and take $70k from it, and have the 10 bots that I want to be running for personal income, and be exactly where I want to be with my bot trading.
I jumped the gun in paying most of my bills with trading bots in the last year or so.
It’s been a real struggle this year — much more than I intended.
I have 3 bots running most of the time, and during the down months, it has been difficult. I have been trying to work my way towards 10 martingale bots, so I can live a bit more comfortably.
The problem has been: if I pay bills this way right now, I am kind of stuck at 3 bots, and growing much more slowly.
This bull run could fix that quickly if my sell order is triggered.
If I put half of my balance into bots, then I will have reached my goal with bots! 10 active martingale trading bots would pay bills, allow for more fun money, and save and allow me to build bigger holdings in general.
Decisions, Decisions...
What would you do?
Disclaimer : This is not financial advice and I am not a financial advisor. This is just what I am doing with my own money. I am NOT an expert. I am some dude on the internet who sees a path sometimes, and takes it.
Continue to the Next Story in this series:
How I Intend to Become a Crypto Millionaire! —3 flips down, 3 to go!
BTC price crossed $100k a few days ago, and now I wait for the next dip!
Thank you for reading!
Until next time….
Onward and Upward Everybody!
-Chris
A.I. Lifestyle
A few years ago I automated my primary online business to the point where it only takes me a few hours per week, and…www.youtube.com
#crypto #trading #2x #simpletrading #strategy #longterm #btc #hodl #holdings #tradingstrategy
Note : if you are scammers reading this, I don’t want your junk links or fake strategies. Neither do my audience. Get lost, please.