Topic: Bitcoin - take profits or continue to DCA? - page 3. (Read 450 times)
I would say to everyone the same thing; if you do not have enough money to stop working ever again and live with your profits, then do not stop doing DCA, on the other hand its going to be pretty tough to stop even if you have money because why not try to keep that in there? It would be smarter to make more money the way you already made. I have been doing DCA even when it was high, and kept doing it when it was low, I just keep on buying more and more bitcoin as much as I could and that is how I managed to turn this into a profit, its definitely something good if you could keep it going for as long as you can.
Is anyone taking profits or are most of us just DCA?
If you had able to get in 15k then which to assume out to be the bottom then it is really better if you do have made out some purchase with those points but its not bad to take up some profit
and snipping out 0.02 on altcoins which it isnt that a bad idea.
Thing here is that you do able to diversify and dont focus or go all in with Bitcoin but its not something a bad option to take too which most people are preferring on this way.
It might not bring out huge multiplier or returns but the confidence and assurance is there at least.
Well, if your thinking is right OP then go for it. I believe you have that experience before so you probably know about it. But we have to remember that the market is unpredictable, we can't say that what happened before will also happen in the next bull season. However, I was sure that some altcoins will be in hype making the investors multiply their money but the question is "which project/coin"? It is somewhat hard to find out which is why I preferred to keep my BTC until the next bull season cause I know that it will pump as well and give me profit.
You are not doing the right thing to sell your btc to altcoin,I don't think there is any cryptocurrency that can yield you the profit which you will get assuming that you invested in btc. My advice is that you should make more research on those altcoins that you bought and if they don't worth it,you should sell it and purchase btc because those altcoins are centralized system in disguise of a decentralized system and might end up depreciating to zero level someday. Do monthly DCA on your investment and don't think of selling anymore,for this is the time to accumulate more btc till 2025.
I decided to sell and put the profits into other altcoins I believe will see greater gains in the next bull run.
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I want 20x gains and feel this is more realistic in top altcoins that are currently 80-90% down.
I am not sure if the altcoins that you are investing in right now will be reaching a higher price in the next bullrun again or not. From my previous experience, not all top altcoins will continue to rise up and reach or pass the previous ATH although they are the top coins. For, many new coins will be rising up with recent classification and hype. But, if this has been your choice, it is up to you. You may be ready for the risks that you will face. And it is good to still have that least, 0.05BTC. .........
I want 20x gains and feel this is more realistic in top altcoins that are currently 80-90% down.
Is anyone taking profits or are most of us just DCA?
If I were you, because I have sold and taken profits of around 0.02, I think it is enough to take profits and continue doing DCA in Bitcoin. For, this current bearish ear still provides me a low price. This will be much better to invest again in Bitcoin, as long as we have the target at least until the next bullrun, this will be much more profitable.But once more, you are the one who has the right to do the most appropriate thing. You can consider the plus and minus of your decision by your own awareness.
For many people, DCA is something unattainable... simply the costs (weekly/monthly) are greater than the (weekly/monthly) income. It has always been and always will be, the ones who have the means to save can do it in many different ways (one of them is investing in risky ventures), and the ones who don't will be trapped in the "magical circle of poverty".
If you can continue with DCA, and when it comes to buying more coins, you should do it. It's not the time for taking profits, except if someone is some desperate need of cash.
If you can continue with DCA, and when it comes to buying more coins, you should do it. It's not the time for taking profits, except if someone is some desperate need of cash.
We are still in a bear market but it's invariably good to take profits, there is no point asking this question because both DCA and taking profits are reasonable so only you will know what's best for you, as for me I don't need to take any profit because this could be the inception of the market sideways movement till the next bull market, there is no affirmation that we will see a new bottom again so I prefer to keep the DCA method alive, I believe in long term holding than taking profits right now, if your reason of investing money on Bitcoin was a short term plan then taking profits is not bad.
I am not sure if I should continue selling my Bitcoin the more we pump or if I should start to DCA again.
It depends on what you expect from the market and what your profit margin is before you take profit.I want 20x gains and feel this is more realistic in top altcoins that are currently 80-90% down.
You say you want 20× gains from the next bull run which is a 2000% from the current price, and selling now would mean you do not get to that point. Secondly, altcoins being 80-90% down does not mean there would be a price recovery at any point in time, the coins are more likely to keep losing value and eventually collapse than to gain 2000%.
- Jay -
Nobody is going to tell you when to take a profit at certain price range it is left for you to ascertain when to take your profit. If you like an advice on DCA I think this is the perfect time to go into that scheme of accumulating because the recent rise is been rumored to be clouded with bearish period soon. But from your post it shows you’re in for quick gain and holding won’t be easy for someone like you. If you really want those 20% gain in short span then gambling on those Altcoin would be your best shot but be wary some of those coins that are already down could remain like that. The only advice is do DCA on bitcoin totally and it help you against this risky altcoins
As a bitcoin holder for 8 years, I would normally advice people to just go ahead and hold for a little longer and keep on buying to enlarge their stash. But you must remember that this is your money, and we, in this forum, would naturally have different opinions about the topic, so this might even confuse you on what to do with it. If you think your profit is already enough for you, go ahead and sell it all - and perhaps leave 0.01 for future purposes - and be done with it. But if you can still wait a little longer and can spend a little more, the obvious choice is to hodl and DCA even more.
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Is anyone taking profits or are most of us just DCA?
I believe that same position with you that purchased last low is now taking profit or else there will be no correction at all and the price will continue to rise without a break. It’s not bad to take profit if you are already happy since a profit is a profit. I’m sure you will feel sorry once the price go down and missed the opportunity to sell while you can. I believe you really do a good decision for selling part of your holdings just to secure profit because you can always buy back anytime and have same amount of money without loss but you can’t sell without once the price pull back.
Securing some profit while maintaining part of your investment is the right choice if you are confused on what to do next. You don’t need to become greedy just get the most profit because huge loss still in play once the trend reversed. You should always consider a wild card of possible huge in your investment if you want to become fruitful on crypto trading.
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Taking profit is always a good idea, most especially when you bought at a low price and the price have increased, but all the same, since you've already sold 0.02 bitcoin and invested the money in altcoins of your choice, I personally will advice you continue to DCA, that is buying more bitcoin at every price deep...
But instead of selling more bitcoins to buy altcoins, I will advise you hold your bitcoin, then use that money which you would have spent on buying more bitcoin and invest in altcoins of your choice instead, but this is you are sure of the altcoin you are investing in, and also having in mind that altcoin investment is very risky as well, so if i were you, i still would invest in good altcoins but not make them a priority over bitcoin.
By the way, i personally think this topic belongs to the trading discussion board.
But instead of selling more bitcoins to buy altcoins, I will advise you hold your bitcoin, then use that money which you would have spent on buying more bitcoin and invest in altcoins of your choice instead, but this is you are sure of the altcoin you are investing in, and also having in mind that altcoin investment is very risky as well, so if i were you, i still would invest in good altcoins but not make them a priority over bitcoin.
By the way, i personally think this topic belongs to the trading discussion board.
The final decision is yours! But if I were you, I would continue holding it and keep on buying in small quantities. Bitcoin has just started showing an uptrend. It's just the beginning and it won't stop here. So I would keep on buying at the current level.
I would generally avoid altcoins except ETH. But don't sell your bitcoins to buy into altcoins. Invest additional money into it. But again that's my personal take on the situation.
I would generally avoid altcoins except ETH. But don't sell your bitcoins to buy into altcoins. Invest additional money into it. But again that's my personal take on the situation.
I decided to sell and put the profits into other altcoins I believe will see greater gains in the next bull run.
That is if the alts you invested on has not bursted it's bubbles before the intended bullrun arrived, but it i were you, i will rather keep to accumulating bitcoin by returning the profits realized back to buy more with my DCA pattern, altcoins cannot be regarded as an investment assets to me.
What to expect from altcoins will not be that easy even if you want 20x profits but the explosion in altcoins will not last long and from altcoins dropping 80-90% it is not certain that they will return to their highest positions again.
If you belive on your knowledge then do whatever your mind says because in crypto no one is 100% predict the market , i says keep all of your 0.05 Bitcoins that you have as an stable investment and invest other money 0.02 BTC in Alts and trade then because if you start trade with these 0.02btc you can make whole btc in some years with knowledge ,
And last advice dont leverage trade because its a trap for new as well as old trade, As we hears how much money liquidated in one day when market suddenly moves, never ignore SL ,TP .
Go higher slow and study in spot or futures but not take leverage .
And last advice dont leverage trade because its a trap for new as well as old trade, As we hears how much money liquidated in one day when market suddenly moves, never ignore SL ,TP .
Go higher slow and study in spot or futures but not take leverage .
Is anyone taking profits or are most of us just DCA?
People mostly are doing DCA on this current market situation. It is not certain what will happen next. Many saying it's an indication towards the nest bull run, and others are saying that it's a bull trap. As we are seeing pump on the market right now, it will take correction in some point. So DCA will prevent from huge loss.
One last thing about investing on alts. They may not bounce back up like BTC in the bull run. So it is safe to avoid those shitcoins. Focus only on Bitcoin.
I decided to sell and put the profits into other altcoins I believe will see greater gains in the next bull run.
That is if the alts you invested on has not bursted it's bubbles before the intended bullrun arrived, but it i were you, i will rather keep to accumulating bitcoin by returning the profits realized back to buy more with my DCA pattern, altcoins cannot be regarded as an investment assets to me.
I am not sure if I should continue selling my Bitcoin the more we pump or if I should start to DCA again.
Why do you have to sell? Except you're in need of money i will advise you continue with your DCA purchasing pattern of buying bitcoin, expect bitcoin bullrun coming soon and hodl down your asset till then.
My thinking behind selling is although I got in at a good price (my current average buy is £15k), that it is only a 6x from £100k which is the expected amount Bitcoin will reach next bull run.
But don't you think you could make more of that only if you can hodl and exercise patience for the next bullrun to come so you can have a blasting reward then.
I think it really depends on your situation and your timeframe for your investment. Obviously the way to play it is to DCA at the lows and sell the highs. If you like doing taxes you might do this weekly, or daily, who knows. I think the way to do it though is to play the 4-year cycle. Buy continuously except for on years where the market is expected to peak. For example, buy in 2009-2012 then sell in 2013. Buy in 2014-2016 then sell in 2017. Buy in 2018-2020 and sell in 2021. Buy in 2022-2024 and sell in 2025. You see how this goes? If you followed that extremely simplified approach to investing in Bitcoin you would probably be insanely rich right now with even the smallest regular DCA plan.
Are you DCAing with too much? If you're DCAing with so much every month that it's becoming noticeable and something you feel like you have to keep actively manage, you should probably consider reducing the amount you put in (if it's an affordable amount you're DCAing with, why are you so concerned and why can't you do another smaller one in altcoins)?
Are you staking those altcoins too? A lot of places where you can stake/obtain yield from the coins that are down are offering very high yields (I've seen 60% on SOL) it looks like you're taking quite a big risk if you're not looking to stake but are wanting to invest in those coins - and if that comes as news to you, you probably shouldn't be investing in things without doing full research of them.
Are you staking those altcoins too? A lot of places where you can stake/obtain yield from the coins that are down are offering very high yields (I've seen 60% on SOL) it looks like you're taking quite a big risk if you're not looking to stake but are wanting to invest in those coins - and if that comes as news to you, you probably shouldn't be investing in things without doing full research of them.
Depends on where you entered and how long you think you can hold your Bitcoin.
If you bought it around $15,000 or $16,000 I actually think $23,000 or $24,000 is a very good price to take profit. Bitfoin can rise more to $28,000 or even to $30,000 but it is a kind of greedy gambling.
If you are greedy to wait for $30,000 to take profit, you must accept that you can waste a chance to take profit about $24,000 if Bitcoin stops there and starts its correction. You must accept that if you miss it, you will have to wait a few months that maybe till 2024 to have chance to take profit about $30,000.
But in 2024, $30,000 is not its highest price surely and you will waste another chance by taking profit too early.
First time, in 2023, wasting chance to take profit because of too greedy.
Second time, in 2024, wasting profit by taking profit too early.
If you bought it around $15,000 or $16,000 I actually think $23,000 or $24,000 is a very good price to take profit. Bitfoin can rise more to $28,000 or even to $30,000 but it is a kind of greedy gambling.
If you are greedy to wait for $30,000 to take profit, you must accept that you can waste a chance to take profit about $24,000 if Bitcoin stops there and starts its correction. You must accept that if you miss it, you will have to wait a few months that maybe till 2024 to have chance to take profit about $30,000.
But in 2024, $30,000 is not its highest price surely and you will waste another chance by taking profit too early.
First time, in 2023, wasting chance to take profit because of too greedy.
Second time, in 2024, wasting profit by taking profit too early.
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