Hey everyone, long-time crypto investor here with a bit of a dilemma.
I've been in the crypto space for years, starting as a Bitcoin maximalist during the Ethereum ICO when I was still a student. Now, I'm all in on Ethereum.
Over the past few years, I've made what I'd call life-changing money - about $2.3 million. That's an insane amount compared to the average salary in my country. Currently, 99% of it is still in crypto, specifically ETH.
Here's my issue: Despite this wealth, I've been living a stressful, penny-pinching life because I'm so focused on delayed gratification. I seriously struggle to spend anything over $100 without thinking, "If I invest this instead, it could double in a few years." This mindset is especially strong given the current high inflation.
Recently, I've been considering buying a house that would significantly improve my quality of life. It costs around $700k. Since I don't have a regular job, this means I'd need to sell some of my crypto. I've been waiting for the "next bull run" so ETH can get back to its all-time high before buying.
When the Bitcoin ETF happened and BTC surpassed its all-time high, I thought Ethereum would follow suit. But that hasn't happened, and now I'm back to waiting for the next catalyst. Some say it'll come by the end of the year, others think it might take several years.
So now I'm torn: should I wait longer, or is it time to bite the bullet, sell some ETH, and finally buy that house?
What would you do in my situation? Any advice would be appreciated.
EDIT:
I'm so glad to receive so many positive response and want to say that I'm super appreciate about it. I want to clarify the situation a little bit, to be honest deep down I understand money is no use if I do not get to enjoy it, some people think this is purely greed, which I think it's right to say that too, the thing about wanting more for me is, the money is enough for what I think I would need, but on the other hand, I am afraid what if I wanted more in future, etc.
There's a formula in my mind, it's like a bell curve, the peak of the curve is where you optimal happiness, longevity with less stress and sacrifices, but the formula is unsolvable as there's too many assumed variables like how long can I live, can I spend, etc.
But I did learn last year I would need to start enjoy life more and started DCA out since last year, prior to that I never DCA out, only invest everything into it, I have a DCA out strategy as well, it's like this:
I combine multiple risk model out there like the one from ben cowen, alphasquared, cbbi into 10 risk level, then every month I sell X% based on the risk level, for example if the risk level is 10, which mean multiple risk model assume we're at the market peak, then my sell percentage is actually as high as 80%, the percentage is like exponential, I ran multiple backtest to derive the percentage to sell based on these levels.
However market has been moving so slow and the risk (price) didn't go up much, so I'm basically selling only bare minimum to cover living cost. I guess in coming weeks I will going to revise the % I withdraw, so that I can withdraw enough earlier to buy my house.
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