All the buzz is about the Bitcoin halving coming up in a few days. There is excitement that Bitcoin is going to continue its journey to the moon. It is difficult to not get caught up in the hype. I can't help feeling a bit of FOMO. It's not that I'm going to miss out on crypto gains. I'll definitely participate.
The source of my FOMO is that I am operating on a budget. Thus, I have only so much to contribute per paycheck. I am dollar cost averaging. My concern is that I may not have enough time to put in orders. Historically, Bitcoin doesn't go up immediately after halving. In fact, the opposite happens. I think in the two months after the halving, I can squeeze in five pay periods. If all works out well, I'll bet a good value before we start the moon ascent. After that, I suppose I'll be buying at increasing prices.
I write that in a teasing manner. There is no knowing for certain what will happen through the rest of 2020. I will be participating in whatever direction the crypto market goes. It's just that I won't be participating as much as I should like. For me, this is a lesson in sticking to a budget rather than putting charges on credit cards. I'd have more cash if I weren't busy paying down credit cards. Fortunately, I've made a dent this year, which has freed up the cash available for crypto buys. I just gotta hang in there.
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