Well, I got my wish. My wish to have more BTC and earn some yield in the process.
Swimming in the Pool....
A while back I pooled BTCB-USDT on pancakeswap with a range of 59,500 to 76,000.
What this means is as the price up bitcoin goes up my coin is being sold until it is all sold at 76k. On the flipside, as bitcoin goes down I am a net buyer.
This maxes out at 59,500 where the position becomes all bitcoin and there is no USDT left to sell.
But ya gotta liquidate!
The key is, I have to pull my liquidity in order to keep all the bitcoin, which is exactly what I did when price sank down to 59K.
What about when it goes up?
Yeah yeah I know what you are thinking. If you want more bitcoin then why would you do this since you are a net seller when it goes up?
Simple answer: I want to sell at higher prices and buy at lower prices. I don't really care if I'm selling at a profit.
I'm also not pooling more Bitcoin than I want to hold, thus if it gets sold, cool I made money and my long-term bag is still good enough for me.
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Well played! It beats DCA and the lower bitcoin went, the more USDT got sold into it in the LP.
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