Topic: BTC profit taking strategies? - page 6. (Read 1221 times)
Your BTC strategy on pulling out your profits sounds very nice and would be great if bitcoin continues to move in the direction you’ve predicted it to, because that’s the only way you can get perfect result for what you want. I thought you were going to get a house after selling some part of your BTC but seeing how costly it is to own a house over there, I don’t think that is achievable this coming bull run since you already want to keep and bag more for another cycle. With the current worth of bitcoin, I can get a decent house here in Nigeria and still have some money left to use. I wish you all the best in achieving your future goals of getting a house with your wife. I hope the bull run favours you to get a huge down payment for the house you want.
You have planned to invest in Bitcoin 1.5 with the intention of using it to help you buy a house and retire when you are old.
That's a good plan, but the question is why you always sell some of the profits when there is a bull cycle. And you will sell with a profit of 0.01 every week and when the Bitcoin price rises you will also increase your selling profit when the Bitcoin price continues to rise from ATH to new ATH, and the question is why you sell. And if you don't really need it, it's better not to sell it. You still have to buy or collect them and change your plan to the correct DCA strategy.
With this, if Bitcoin price reaches $125K as you say. You can not only buy a house, but you can also buy the entire contents of the house in a luxurious manner and can also guarantee your old age and future as well as the future of your children.
That's a good plan, but the question is why you always sell some of the profits when there is a bull cycle. And you will sell with a profit of 0.01 every week and when the Bitcoin price rises you will also increase your selling profit when the Bitcoin price continues to rise from ATH to new ATH, and the question is why you sell. And if you don't really need it, it's better not to sell it. You still have to buy or collect them and change your plan to the correct DCA strategy.
With this, if Bitcoin price reaches $125K as you say. You can not only buy a house, but you can also buy the entire contents of the house in a luxurious manner and can also guarantee your old age and future as well as the future of your children.
You might make more if you wait little longer but if cashing out is your ultimate decision then what you strategized looks good and if that's enough to cover the initial down payment. But think again do you really need the house or apartment or just wait for another 4 years to have better returns?
The right answer varies from person to person. How much do you have in btc? Do you hold everything in btc? What's the cost of life in your country? What's your age? Do you own a house? etc... Based on the answers you'll give to these questions, you should follow a specific asset liquidation strategy. Since we don't know your situation, we can't give you any meaningful advice here.
Here is an example:
Is the money in btc enough to buy a house? If you don't own a house at the moment > sell btc and buy a house.
When I saw the topic of the thread, the first thing that came to my mind was taking profit to do what? I was forced to ask myself, does this taking profit mean selling all my Bitcoin and converting the money to stable coins or fiat? The answer that came out of these question actually got me worried and confused. If I take profit now and convert to fiat, then there is inflation to contend with, apart from the urge to live extravagantly. The other option being to leave it in stable coin, then again, will I be able to forgive myself if after converting to stable coin Bitcoin give X2 from the present price? This idea of taking profit does not make sense to me at this point. Here is an example:
Is the money in btc enough to buy a house? If you don't own a house at the moment > sell btc and buy a house.
Everyone has their own strategy, I think the strategy you use is reasonable to apply, where if you sell BTC you will already make a profit, especially if you will get a profit above the capital we put in / when entering to buy Bitcoin
The suggestion is to sell enough BTC to buy your dream house and save it for your old age from the proceeds from selling your BTC. If you feel that all your wishes have come true, let your BTC become a long-term investment with a target of achieving maximum profits.
The suggestion is to sell enough BTC to buy your dream house and save it for your old age from the proceeds from selling your BTC. If you feel that all your wishes have come true, let your BTC become a long-term investment with a target of achieving maximum profits.
The same thing can not work for everyone, but since it is Bitcoin, most have similar strategies. There is nothing new it is either your trading, your mining, or your holding, so it is almost the same pattern, The only place that might have is while you want to trade, which I love more than holding because I don't have enough money to buy to hold, especially now that the price is going up since we are waiting for a bull run.
That is something everybody wants to do to make a profit above their capital, It might not always happen that way but having it in mind is not bad at all because it is something you have invested your time and energy in. When you make enough profit from bitcoin, you can buy what is even more than a house, and that is one of the benefits that investing in Bitcoin comes with. To make a profit, I have that long-term goal in mind but need good money to enjoy my investment.
Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.
It's very important to remain patient and not get caught up in short-term price fluctuation when investing in Bitcoin. What really matters in Bitcoin Investment is the long-term results, because you can only reap the actual benefits of Bitcoin when you go long-term, that way you'll not only be gaining the full benefits but also saving yourself from the trauma and heartache of dips and Bitcoin's dramatic trends.
My wife and I have been investing in BTC since around the last ATH, so this coming halving is the first one we've experienced. As a result, we need to figure out a profit-taking strategy. I was hoping to get some input from the community here.
Bitcoin today, 29/2/24, has soared to $62,911, meaning that Bitcoin has experienced an increase in price over the past few months, halving is one of the triggers for Bitcoin's current rise, If you have already bought and invested in Bitcoin, that is a good move, if you ask me, of course don't rush to sell it, the time is not yet right.Halving occurred in 2021, Bitcoin showed a new ATH at the level of $68,789, I believe that the ATH in 2024 Bitcoin will be at the level of $70-80k, meaning that if the price of Bitcoin has reached that position for at least the next few months, maybe you can make a decision to sell it, that's based on my speculation, which is certain that each user has their own understanding in assessing their respective Bitcoin sales to achieve good results.
Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.
It's very important to remain patient and not get caught up in short-term price fluctuation when investing in Bitcoin. What really matters in Bitcoin Investment is the long-term results, because you can only reap the actual benefits of Bitcoin when you go long-term, that way you'll not only be gaining the full benefits but also saving yourself from the trauma and heartache of dips and Bitcoin's dramatic trends. 
Hm, reverse DCA sounds interesting and can make sense if you know you want to sell in the near future. But Bitcoin isn't at the top yet, and after at gets there, it can easily go down for a while (like, 50% down, for example), so selling when that happens can be a very unfortunate decision. Considering that Bitcoin tends to stay well below ATH for years and then grows beyond the previous ATH for much shorter periods of time, reverse DCA might not be such a good idea because it can mean selling mainly during far from optimal periods.
If you want to sell some BTC, that's totally fine, but if you're willing to wait for several more years, it might bring bigger profits if you still keep some BTC as an investment.
If you want to sell some BTC, that's totally fine, but if you're willing to wait for several more years, it might bring bigger profits if you still keep some BTC as an investment.
We currently have around 1.5 BTC
Anyways, the strategy I'm considering is something like, when BTC crosses $100K CAD, (it's currently at $83K CAD) I plan on selling 0.01 BTC per week. Kind of like DCA but in reverse. Then possibly increasing that amount alongside BTC value, so if it crosses $125K, sell 0.0125 BTC per week, 0.015 per week at $150K, etc.
From $83k CAD to $100k CAD, it is about 20% more increase. It looks good to take profit but I believe it is too soon because we are still 2 months until April halving. Bitcoin can make its all time high that is higher than 2021 all time high and I believe it won't stop 20% from today price.Anyways, the strategy I'm considering is something like, when BTC crosses $100K CAD, (it's currently at $83K CAD) I plan on selling 0.01 BTC per week. Kind of like DCA but in reverse. Then possibly increasing that amount alongside BTC value, so if it crosses $125K, sell 0.0125 BTC per week, 0.015 per week at $150K, etc.
You have 1.5 BTC and want to DCA take profit with 0.1 BTC each time. Do you think it is too small part of your portfolio to take profit, even DCA.
I would like to do DCA take profit with 0.1 BTC but my start price will be like 40% from today price, not only 20%. I will take profit with DCA like 0.1 - 0.1 - 0.1 - 0.2 - 0.3 - 0.3 - 0.3 and 0.4 BTC. Because when Bitcoin moves nearer to its new all time high, I will increase the amount for taking profit.
I expected the present bull run after the halving and I cannot point to what is causing it at the moment. But I'm optimistic that after halving, the market will respond positively. Base on Bitcoin price history, we will be seeing some unexpected prices as a consequence of the halving.
Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.
Totally agree, 62k USD is still below the previous ATH and if you're a long time hodler, it would be a disservice to your efforts of hodling at the bottom just to sell now, sure there's the possibility that you can sell now and you'd luckily sell when the price starts going down again but if I were you, I wouldn't risk it anytime soon, it's definitely not a good idea especially with the expensive transaction fees caused by the ordinals, it's better to wait for the price to go to your target and then sell at that point, that way, even if you're paying huge transaction fees, you're getting the profit that you deserve. Follow what I and @ImThour says, hold on for dear life my cryptobros and cryptosis!!! 
Oh, this desire to squeeze out maximum profits. Someone is trying to catch ATH for this, and someone is making a selling in parts like this. Bitcoin already demonstrates such profitability that you can get in few other places.
Selling bitcoin in parts is a good idea (allows to average the selling price), but at 0.01BTC per week it will take a very long time, and bitcoin ATH is candle-shaped, which means there won’t be much time to sell at the best price. The 0.01BTC value should be increased to at least 0.1BTC, maybe more.
There are 4 weeks in a month = 0.01BTC x 4 = 0.04BTC per month (with your strategy).
0.04BTC x 12 (number of months in a year) = 0.48BTC. Sticking to your plan will take you ~3 years, which will not allow you to get the maximum profit.
0.1BTC x 4 = 0.4 (it will take ~3 months to reach the 1.5BTC limit) - seems more realistic, although it is also not the most rational solution.
Probably best is 0.2-0.3BTC per week.
Selling bitcoin in parts is a good idea (allows to average the selling price), but at 0.01BTC per week it will take a very long time, and bitcoin ATH is candle-shaped, which means there won’t be much time to sell at the best price. The 0.01BTC value should be increased to at least 0.1BTC, maybe more.
There are 4 weeks in a month = 0.01BTC x 4 = 0.04BTC per month (with your strategy).
0.04BTC x 12 (number of months in a year) = 0.48BTC. Sticking to your plan will take you ~3 years, which will not allow you to get the maximum profit.
0.1BTC x 4 = 0.4 (it will take ~3 months to reach the 1.5BTC limit) - seems more realistic, although it is also not the most rational solution.
Probably best is 0.2-0.3BTC per week.
Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.
dear plan is very important in the market of Bitcoin plan of taking entry matters but the plan of exit matters more because if we miss any opportunity it may be going to our last opportunity. But you are right this is too soon for taking profit. But if we look at the history of the bitcoin market have been making correction at the edge of the bull run where Maket may give us another buying opportunity where we can fill up our bags again.
Last day when the market was at $64k I also booked some profit to buy back at the edge of a bull run. Now I am waiting patiently for that to occur. Dear, what do you have how much correct we may see in the coming future? In my opinion market can go $45k it is just a rough prediction/idea because the bitcoin market already has gained a lot to its price. So if OP is Taking Profit he/she should consider to for buying back opportunity in the future. What do you say?
If you are hesitant to get back your capital and want to use it for some more reasonable investments, then you can just simply take it when the bull runs come and sell it all in the crypto market to maximize your income at that point and maybe when the price will start to decrease again and you have made some good earnings in your new work or job, then you can buy again and just repeat what have you done before to avoid risks. But if you don't have any problem when you lose your capital to buy bitcoins at any time, then you can just buy more whenever you have some money and just keep hodling until the price is raised to hundreds of dollars for each bitcoin.
Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.
Everyone has their own strategy, I think the strategy you use is reasonable to apply, where if you sell BTC you will already make a profit, especially if you will get a profit above the capital we put in / when entering to buy Bitcoin
The suggestion is to sell enough BTC to buy your dream house and save it for your old age from the proceeds from selling your BTC. If you feel that all your wishes have come true, let your BTC become a long-term investment with a target of achieving maximum profits.
The suggestion is to sell enough BTC to buy your dream house and save it for your old age from the proceeds from selling your BTC. If you feel that all your wishes have come true, let your BTC become a long-term investment with a target of achieving maximum profits.
The right answer varies from person to person. How much do you have in btc? Do you hold everything in btc? What's the cost of life in your country? What's your age? Do you own a house? etc... Based on the answers you'll give to these questions, you should follow a specific asset liquidation strategy. Since we don't know your situation, we can't give you any meaningful advice here.
Here is an example:
Is the money in btc enough to buy a house? If you don't own a house at the moment > sell btc and buy a house.
Here is an example:
Is the money in btc enough to buy a house? If you don't own a house at the moment > sell btc and buy a house.
Your plan to sell a bit of BTC regularly as the price goes up sounds solid. It's like a reverse dollar-cost averaging helping you lock in profits without trying to time the market perfectly. I like that you're planning to reinvest during bearish periods, acknowledging the market's ups and downs. Just keep an eye on transaction fees and tax stuff and don't forget to stay in the loop with market trends and maybe think about diversifying a bit. It's a smart strategy but everything can be learned
Anyways, the strategy I'm considering is something like, when BTC crosses $100K CAD, (it's currently at $83K CAD) I plan on selling 0.01 BTC per week. Kind of like DCA but in reverse. Then possibly increasing that amount alongside BTC value, so if it crosses $125K, sell 0.0125 BTC per week, 0.015 per week at $150K, etc.
The question is not about taking profits but what are you going to be taking profit for? What is the plan? Will you just be taking profits just so that you can have enough money to keep and then satisfy the urge of knowing that you are benefiting from your investment. Please don't take profit or have a plan to take profit if you have no purpose for it. It is not compulsory to take profit when bitcoin sets a new ATH and continues bullishly.
You have it all figured out already, but am hoping things turn out the way you have planned and hope you keep up with your DCA strategy once you have taken profit and we have entered the bearish season.
However you should know that the people who would enjoy profit taking care those who have had BTC investments and HoDL for more than five or close to a decade. Else , if you just started DCAing last year and hope to make a good profit in the bull market, I suggest you HoDL some more before even trying to sell.
However you should know that the people who would enjoy profit taking care those who have had BTC investments and HoDL for more than five or close to a decade. Else , if you just started DCAing last year and hope to make a good profit in the bull market, I suggest you HoDL some more before even trying to sell.
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