beginingCryptocurrenciesBitcoinThe Secret to Growing Your Bitcoin Portfolio

    The Secret to Growing Your Bitcoin Portfolio

    If you have been in the cryptocurrency or bitcoin market for a significant period of time, you will find something that will make your portfolio value increase much more than someone who is just entering these markets. It's something so basic, but at its core, it's one of the most important traits to have if you want to succeed in this market. After all, this is what we all hope to achieve. Pursuing our goals for life-changing wealth that would allow us to live a much more relaxing or stress-free life. Investing in bitcoin, ethereum and other cryptocurrencies gives you an amazing chance to achieve these goals. But first you need to master this very simple mindset when it comes to investing in this market.

    It's a mistake I've seen repeated countless times by those new to the market, and sometimes by those less convinced of what they've invested in. I will admit that I made the same mistake when I first got into Bitcoin and it hindered my ability to accumulate as many Bitcoins as possible. A decision I regret to this day. But what could this simple but essential feature be? 

    It's just that. Long-haul bitcoiners don't care about the dollar value of their bitcoin portfolio. Instead, they are interested in how many satoshis and bitcoins they can accumulate. People who have a true belief in Bitcoin see it as a better form of money compared to fiat. If that is the case, why then would you value your cryptocurrency portfolio in dollars. The easy answer is because that's just how the world is run right now. But this is not a good enough reason.

    When you buy Bitcoin; you are essentially trading fiat that you don't appreciate for a currency (Bitcoin) that you do appreciate. When you couple this idea together with the fact that dollar inflation is increasing at an alarming rate, it becomes strange to value your portfolio in dollars. Especially when most bitcoin maximalists are of the opinion that bitcoin will eventually take the US dollar as the world's reserve currency.  

    But recently there is a tendency for this to change. Most cryptocurrency market cap websites and exchanges allow you to customize your experience and see everything in terms of Bitcoin value. That's how I look at my portfolio. I look at it in terms of how much I have of each asset, not in terms of what the current dollar value is.

    When you start thinking this way, there are two ways it will improve your life in the cryptocurrency market. One of them will improve your stress level and overall happiness. The other will help you increase the cash value of your portfolio over time and help you become rich.

    Let's first talk about how it will help make your time in cryptocurrency less stressful. Let's face it; investing in bitcoin, ethereum or any other coin can be quite stressful. The price is extremely volatile. One day your coin may rise by 10% and the next day it may fall by 50%. The amount of FUD news published recently about Bitcoin can be quite scary, especially if you are new to the market. It is vital to have conviction in what you are investing in. Always fully conduct your own research and come to your own conclusion about the asset. Never let someone else make your decision for you. When you have the opinion that one bitcoin equals one bitcoin and that will never change. This is when life will become less stressful for you. While the media will have a flourish that Bitcoin has fallen by 20% in one day. You will know that none of the properties or code of Bitcoin has changed. Transactions are still running smoothly, it's especially good. You will know that every day that Bitcoin is alive, it gets another day stronger. And that your bitcoin is still worth one bitcoin. This mindset has helped me keep my sanity during all the crazy price drops over the years.

    Now to the part of how this will help you become rich. When looking at your bitcoins or ethereum in terms of dollars. You will become extremely disappointed when you price tanks. You may hesitate to buy more and even worse; it makes you have thoughts of selling. But when you start looking at your assets not in dollars, but in bitcoin and ethereum. This is the moment when you realize that all you have to do is keep stacking as much as possible. Days when these coins drop 20% or more are golden opportunities that will help you change your life. Long periods of time when there is little or no price action. These are amazing accumulation zones that are gifted to you. You don't have to worry about the current price today. Most of us who are in the market for the long term are very confident about where the price is going. If this is true, then why would you care about current movements?  

    Personally, I love those dip days, as well as those long weeks and "boring" price movements. By never taking your foot off the gas pedal and continuing to accumulate, you're setting yourself up incredibly for the future. Here's how I think about it. During these times, through accumulation, it is like adjusting a slingshot. Even though you haven't shot it yet, accumulating cheaply, you keep pulling the latch further and further. Then finally, when the price goes up, the value of your portfolio will explode upwards in a way that will surprise even you. Keep piling up.

    What about you? How do you see or think about your cryptocurrency portfolio? Are you looking at it in terms of dollars or crypto itself?

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