Topic: 18, holding my bitcoin and looking forward :) - page 3. (Read 771 times)
Of course if you hold Bitcoin it will give you good amount of profit in future. Bitcoin is an asset that is against inflation so the longer you try to hold bitcoins, the lower your inflation rate will be. As you want to get rich quick you need to be aware of the volatility of the market and there are many people who don't believe it. They think that it is not possible to get rich by investing in Bitcoin but I would say it is definitely possible. So your invested bitcoins always wait patiently a sure if you sell in 2025 you will get huge profit. And since you have a bitcoin investment, be sure to use a good wallet to keep your bitcoin safe. Always use a hardware wallet or software wallet to keep your money safe and keep your bitcoins safe.
Hay mate, let me ask you a quick question, since you put a time frame to your sell position, what happens in the event the Bitcoin price at that time become lower than your bought position?
I know how unpredictable Bitcoin has been, but it is important to note that Bitcoin supplies reduce at each half.
Op don't need to be assuming or thinking of when the he or her bitcoin will be sell, the only thing that is getting op confusing is that it doesn't have a target when it will likely get into before it sell, and secondly an investor should be able to know the exact time it will sell it bitcoin, by knowing the amount was bitcoin or any other of it's cryptocurrency investor before it purchase and store, so when you know the amount the coin you purchased, then you definitely have a specification of price of bitcoin when it will increase to before you sell, so therefore as you are selling bitcoin it's obvious that you will know your profit margins with your capitals. That's while it's reasonable enough to keep records of your investment business so that you will know when you at the positive side or negative side.I know how unpredictable Bitcoin has been, but it is important to note that Bitcoin supplies reduce at each half.
There is really a need to know the target price to sell. Just like what you are explaining, having no goal on how much is the target selling price and rely only on the timeframe, @OP will be in confusion and possibly frustrated if it happens when his timeframe for selling expires and yet the price of BTC is lower than the price @OP bought. So it is really necessary to set a target price in order to avoid this kind of situation and at the same time be able to maximize the timeframe of reinvestment if ever the price of BTC hits @OP's target price in an earlier time.
Owning nearly $30,000 worth of Bitcoin at the age of 18 is pretty impressive. I don’t believe I had that much money saved at that age. While you are setting yourself up great, I think it’s important that you should also try to remain debt free while diversifying in an income generating equities portfolio. If you can manage to grow your assets and stay away from debt you will be extremely wealthy in the future.
It is possible that @OP belongs to a well-off family.
Owning nearly $30,000 worth of Bitcoin at the age of 18 is pretty impressive. I don’t believe I had that much money saved at that age. While you are setting yourself up great, I think it’s important that you should also try to remain debt free while diversifying in an income generating equities portfolio. If you can manage to grow your assets and stay away from debt you will be extremely wealthy in the future.
Good perspective mate. Accumulate bitcoin now and benefit later. You can always get a job that suit your skills and get btc payment if you want. Just explore the market so you will know those available jobs meant for you.
However, you should have known that even the government cannot stop bitcoin from existence. Most of the government now are still against bitcoin, but look at bitcoin now, it’s price even growing despite of the cold treatment from the government. But I also believe bitcoin will eventually be accepted in the long run, the process may be long but it’s certainly worth the wait.
However, you should have known that even the government cannot stop bitcoin from existence. Most of the government now are still against bitcoin, but look at bitcoin now, it’s price even growing despite of the cold treatment from the government. But I also believe bitcoin will eventually be accepted in the long run, the process may be long but it’s certainly worth the wait.
I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.
Knowledge is the first step any newbie needs to consider before investing in the cryptocurrency industry, and what you have done is what will lead someone in the right direction. If someone has good knowledge about Bitcoin, taking the risk will not be hard for such a person because the knowledge will give them confidence in the risk they can take.
It is a good idea to view Bitcoin as an investment and to invest in it at this time. I am confident that over time, your Bitcoin investment will pay off, but all I need to say to you is to only invest money you can afford to lose. Avoid investing money you cannot afford to lose in an effort to make a significant profit quickly. If someone can keep Bitcoin for a very long time, they can still make enormous gains.
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I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
It is a good idea to have a sell target; it won't be bad if you achieve your Bitcoin price selling target by 2024 or 2025 and sell as you promised. However, the reality is that it is very difficult to predict the Bitcoin price; even a specific time to sell may not go as planned. The best course of action is to achieve your profit target; once you achieve it, you can sell and buy when the price drops again. Let's wait and see whether a bull run will occurs in the intervals you suggested.
I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
snip
I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024
I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.
For what I can read you are in a good position, however it is important to clarify some points, if the governments could stop bitcoin you can be sure they would have done so already, they do not let bitcoin exist because they are a bunch of magnanimous people, bitcoin exist because they cannot kill it, even with their best efforts, bitcoin is in fact so strong that they decided to employ the old proverb of ‘if you cannot beat them, join them’ and this is why they are creating their own CBDCs as they were forced by bitcoin to compete with it. schooling in private college
I flip stuff for cash part time regularly to make some extra cash
snip
I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024
I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.
That is really good bruh, you have more Bitcoin than me and I work full-time on the forum and sell my artwork part-time. lolz. I think you are already in an excellent position than most of the users here. If this is your savings and your patience to collect this much amount of money then you are already on the right path for sure. If you continue to achieve this again and again then definitely you will end up with more than enough Bitcoin. After that, you have to just hold your Bitcoins and see the profits roar for yourself. Bigger the amount of Bitcoin the Bigger the profits move upwards since the bulk volume will play the role here. I think you have the very good position as if now and you should continue to hold even after the halving process. Halving doesn't guarantee high prices, but its one of the chances. You better start compounding after getting the profits.
but you should never sell the whole 1 bitcoin. Keep 0.25 BTC in a separate wallet and do not sell in for the next 15-20 years. You can save it as your retirement funds and you will be one of the richest people in the world after 20-30 years if you have just 0.25 BTC with you.
Am having some amount of bitcoin which am not really intending to sell even during the next bull run, while am having little amount of bitcoin which i know i will be selling in the next bull run, but the amount of bitcoin i will be selling in the next bull run is kind of small compare to the amount i will be holding. You gave the OP a nice idea, but i think next time you shouldn't recommend any amount for him to hold, its better you just advice the Op to hold some amount of bitcoin, so its left for him to know the amount of bitcoin which he is going to sell in the next bull run and the one he is going to hold.
investing in btc at a young age is a great thing as long as you already know about the risks of investing in btc, but I admire you because at a young age you can buy 1 bitcoin I think this is an extraordinary thing and you are also very great because you have emergency fund for your need, I can only say I hope your investment is successful and successful.
Its a nice idea having one bitcoin at his early stage, but if he is still having more money which he wont be using in the future, then he can still increase his bitcoin investment, no amount of bitcoin holding is too much as long as you are not investing all your money in it, and you wont be using the money you invest in it for a long period of time, then no bitcoin investment is too big and also no bitcoin investment is too small. 
The only thing that can stop bitcoin is probably the government.
No they can't.--Knight Hider
They can't control it but for sure they could ban it like in some other countries.
I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024
I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024
I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.
That's actually good to start early as long as it doesn't affect your studying at college. Starting early would give you an advantage as you could still more learn earlier and benefit more as you have more time to gain knowledge about Bitcoin, because some people discovered Bitcoin late and they already having difficulty from understanding it due to some people doesn't really understand how digital or online works.
Good thing about your post OP. is that you have a goal but let me tell you that despite of being optimistic about Bitcoin we couldn't still predict the outcome of Bitcoin due to volatility and some news that could affect the market. Still it's up to you if the market you're aiming doesn't meet your expectation. you could sell or hodl. Since you have a lot of time in your hands to reenter the market. But for sure holding will payout in the future. Bitcoin couldn't be affected by inflation so investing here is a good thing.
During the 2022 crisis, bitcoin failed to fulfill its duty as a hedge against inflation. It has also been negatively affected by inflation, severely dumping. So it is too risky to rely solely on bitcoin to save us from inflation and crisis. Every investment has risk, why don't we diversify instead of just focusing on one thing?
BTC doesn't have any 'duty' of being a hedge against inflation, it is not a stable coin; though it can be used by people who want to use it as a hedge against inflation, but they must not forget that BTC is also volatile and the price can either rise or dump, but in the long run BTC price usually pumps very high and people who bought earlier will make profits instead of their money depreciating if it was in fiat. So if you want to talk about BTC being a hedge, it has to be in the long term.BTC is surely risky, but if one knows what they are doing, the risk is reduced, but i agree with your point on diversification, but in other assets like real estate, gold, etc and probably not in altcoins.
I agree when you say that BTC will be a good hedge against inflation if we hold it for a long time, such as accumulating bitcoin now and we will avoid future inflation. But in the short term, don't jump to the conclusion that it will be better than fiat because of its volatility.
For me, diversification is a non-crypto investment, I have never considered altcoins as diversification to reduce risk. The entire crypto market depends on the movement of bitcoin, it would be foolish to invest in altcoins for diversification.
investing in btc at a young age is a great thing as long as you already know about the risks of investing in btc, but I admire you because at a young age you can buy 1 bitcoin I think this is an extraordinary thing and you are also very great because you have emergency fund for your need, I can only say I hope your investment is successful and successful.
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OP, don't forget the simple rules of Bitcoin investment, one of which states, "Not your key, not your coin". As you are holding your Bitcoin, it should not be on a centralised platform or wallet. Make sure you are holding your assets in a self-custodial wallet. Another rule says you must not invest what you can't afford to risk. Like you said, that you want to get a job so you can buy more Bitcoin, don't invest so hard that you will get so physically affected if the market goes a bit down. But if the market dips below what you bought, just remember that if you don't hold, you won't make a profit. Bitcoin is not a get-rich-quick scheme, so you must be prepared to hold until the market becomes bullish.
I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
You're just 18 and you have a long life ahead. If you agree to me, take my one advice and you will thank me later.
You can sell your bitcoin whenever you feel like, it can be in 2024 or 2025 depending upon the price action in the bull season, but you should never sell the whole 1 bitcoin. Keep 0.25 BTC in a separate wallet and do not sell in for the next 15-20 years. You can save it as your retirement funds and you will be one of the richest people in the world after 20-30 years if you have just 0.25 BTC with you.
Hay mate, let me ask you a quick question, since you put a time frame to your sell position, what happens in the event the Bitcoin price at that time become lower than your bought position?
I know how unpredictable Bitcoin has been, but it is important to note that Bitcoin supplies reduce at each half.
Op don't need to be assuming or thinking of when the he or her bitcoin will be sell, the only thing that is getting op confusing is that it doesn't have a target when it will likely get into before it sell, and secondly an investor should be able to know the exact time it will sell it bitcoin, by knowing the amount was bitcoin or any other of it's cryptocurrency investor before it purchase and store, so when you know the amount the coin you purchased, then you definitely have a specification of price of bitcoin when it will increase to before you sell, so therefore as you are selling bitcoin it's obvious that you will know your profit margins with your capitals. That's while it's reasonable enough to keep records of your investment business so that you will know when you at the positive side or negative side. I know how unpredictable Bitcoin has been, but it is important to note that Bitcoin supplies reduce at each half.
First of all, you are doing it at an early age. That's good. You will get more time to learn and gain more experience. but keeping that aside, don't share your details like this in public. What amount you hodl and what you do is a part of your privacy. So don't violate that. Your privacy is your's alone. Don't share it in public, because it could get you into trouble.
The next thing I would like to say is that keep your Bitcoin safe. Use hardware wallets and keep multiple backups. Don't store your Bitcoin in centralized exchanges. If you wish to trade, then use CEX and when the job is done, move your assets immediately to your personal wallet.
As for selling Bitcoin. It's your personal choice. As Bitcoin is a long-term investment asset, you can keep hodling even after the bull market is over. The next bull market will pump the price again. But you need to know the right time to sell. There are any right times to enter the market, but there is a right time when it comes to selling. So keep that in mind and when you are satisfied with your profit, just sell.
The next thing I would like to say is that keep your Bitcoin safe. Use hardware wallets and keep multiple backups. Don't store your Bitcoin in centralized exchanges. If you wish to trade, then use CEX and when the job is done, move your assets immediately to your personal wallet.
As for selling Bitcoin. It's your personal choice. As Bitcoin is a long-term investment asset, you can keep hodling even after the bull market is over. The next bull market will pump the price again. But you need to know the right time to sell. There are any right times to enter the market, but there is a right time when it comes to selling. So keep that in mind and when you are satisfied with your profit, just sell.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
I believe you'll be in better profit selling it in 2025 as against 2024. Bitcoin ATHs usually come a year after every halving, looking at past data. 2025 will be that year for a new ATH to be achieved. Nonetheless, OP will be making a better call if you set an exit point for yourself instead of looking for a duration to sell off. Who knows, price may get to your projection before the time and you're off the market. Choose price target over duration to cash out. 
I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
It's appreciable that in the age of 18 your mind is active towards managing inflation and you are working for it. You should buy bitcoin at current price because there will be more up in price in coming months.
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
As you have keep some amount in bank for emergency purposes then don't use this emergency fund for investment because necessitates can put you in emotions to sell bitcoin at lower price therefore buy bitcoin with extra amount of money.
I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
If you buy bitcoin then don't fix timing for selling it but instead of fixing time you should realize about your benefit. If you have 40 or 50 percent advantage during any month of 2024 then I will suggest you to take that benefit because market is volatile so no one knows that what will be the price at the end of next year.
Primarily less than a year before Bitcoin halving as the price fluctuation indicates the time for its next all-time high. Bought 1 bitcoin now at $28K and should be able to make more than double in late 2025 usually around September to November if the pattern repeated. Time flies imperceptibly, many companies will invest in bitcoin and the price could rapidly rise more than $200K, just be patient for the time to come and secure your bitcoin.
Don't time the market and don't also expect a lot. That's much better to do than to be said but I'm also bullish although I don't want to set a lot or a huge expectation if it's about the price of Bitcoin after the halving. I do have an idea on how it goes typically and that's no secret for everybody. As for all of us including OPs plan of getting that profit during the bull run is a must and we shouldn't miss that this time. $200k is possible and could even be higher. But this time, I wouldn't expect a lot just as how many have expected that Bitcoin will reach $100k on 2021's bull run and it didn't happen. 
I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund
Tip: don't dox yourself on the Internet. You're putting yourself in danger for absolutely no reason. The only thing that can stop bitcoin is probably the government.
The millions of attempts from governments across the world should have convinced you it's unstoppable already. I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.
When selling it, be careful and use a peer-to-peer exchange. Centralized exchanges like Binance have gone full anti-bitcoin in the last years. Don't ever submit KYC in those places, and sell in small portions. 
If I were you, I wouldn't put any time to sold all my bitcoins rather I will wait for the new bull runs which will probably gonna happen after the bitcoins halving or a year after that just like the historical graph shows us. there are lots of people who are waiting like you and they are just waiting for the price to decrease a little bit and maybe after that, there will be another surge of bitcoins price because lots of investors will rush to buy bitcoins at that time. You need also not rush to sell when the price is not doing well in the crypto market and you need to be patient to wait for it to recover again in order to save your money and maybe gain more earnings after that.
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