Topic: BTC profit taking strategies? - page 7. (Read 1334 times)

What you're saying makes sense. My concern with picking a specific value and selling there is based on the experience I had when I first entered the market; I spent way too much when the price was still high. Had I been more patient and DCAd early on, I would've been able to buy more for less.

The way I see it, if it does top out at $125K and I've only sold maybe 0.1 or 0.2 in that cycle, it just means I'll hold more for later. Conversely, if it tops out at $200K+ or even higher, I can ride it out for longer. I'd be kicking myself if I sell most of my BTC at $125K and then the price surges to 2x that or more.

I understand you and your advice is good.

To take profit, investors must identify two main things: target price and time to exit the market.

Target price is easy to set by any investor and Bitcoin can hit it or don't hit it in this cycle so the second thing is important. When will be a maximum time you wait to take profit and when will be the time you will exit the market no matter what price Bitcoin is at that time?

If Bitcoin does not hit $100,000 but time is counting down to late of 2024 and Q2 of 2025, I will exit the market. I don't wait more than Q2 2025 to exit because it will be time for the bear to appear.

Your plan isn't too bad, I don't want to disappoint you but do you have a backup plan? I mean, if we don't have bull season or bull season happens later than you expected, what will you do then? Everyone is looking forward to the halving and the subsequent price increase, but if history does not repeat itself, things will not go as planned. I'm not spreading Fuds or negativity but I think we should not be too subjective and need a backup plan.

Also, don't just focus on bitcoin investment and think that it will bring financial freedom, we need other sources of income and should not be dependent on one thing, especially a volatile asset as high as bitcoin.

Selling BTC to buy a house looks like loser's strategy to me honestly speaking. Why would you sell a non-sovereign appreciating reserve asset to buy a geographically limiting semi-sovereign asset that's subject to all types of counterparty and systemic risks?

Yeah its reasonable and somehow you can test out the current cycle then maybe you can learn something so in next cycle you can use your current experience to maximize your potential profit in future. Also whatever makes you feel comfortable to sell as long as you are bullish or earning a great profit then everything is fine. Just don't regret on any position you sell and think about you are already gain your desired profit since if you ask for more and be greedy then you might face the consequences of the action that you don't want to be in.

Its great that season is in favor to holders or investors so lets take advantage and take home a good profit brought up by current good happening on the market.

The average housing price in Canada is $659,395 [1], selling Bitcoin using DCA strategy when you don't have enough coins to buy house, is not a wise decision for me.

I suggest you're need to wait until the price surge really high, let's say you think $150K CAD is big, you can sell some portion and hold the rest. People are expecting the highest Bitcoin price in this year halving event will happen in the next year, so you can sell some at the top.

---

[1] https://wowa.ca/reports/canada-housing-market

Yeah, very reasonable and normal.

Just do it like what you are planning and all you have to do is to timing the moments you're about to sell. Not every week that you might planned to sell will be good to you so just expect the unexpected.

It's a cycle for this market and you're having a good plan. Good luck to both of you as it seemed that you're planned well.

I would sudjest you HODl 0.5btc and sell 1 btc which you and your wife can buy a house and invest in a regular income generation investment, which you will be aiming small small money so that you won't think of selling your holdings. This reason has made many people sold their investment when they where not even matured. You guys should try not to sell all. A time will come when you will regret selling it at this price now.  Just as early adopters did and regretted later. To HODl $1.5btc is not an easy thing which you should know that many people might spent 15 to 20 year to be able accumulate such value keep HODling a little it is to early to see off. Like I said sell some and reserve some in your wallet, btc will set another ATH.

Here is the issue with your strategy. Say bitcoin does go to $100K CAD and then $110K and then $125K and then it tops and starts to enter bear market cycle.

You will only sell maybe 4-5 branches of 0.01BTC but if we end up topping and entering the bear market then you will be selling at a lower and lower price every week. Just look at the previous cycles.

My advice. Pick a price and just stick with it. If it hits $125K CAD and you are satisfied then just take profit there and be happy.

Trust me I’m in my 3rd bitcoin cycle.

Being self-less will make you rich faster.

Did I just put that mans word in the database for the second time? Know things!

Dude you need screenshot of everything for regulatory. Prints. Whatever. And do me a favor. Don't vote against a sitting President.

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.

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.

Put the BTC to rest. Besides the inscriptions. I think about setting a CMS up on my own site. Content management system. Cheers! "I am so 2000 and 8 and your so 2000 and late!".

The profit taking is lined up like dominoes.


You save money when you don't spend it on BTC. One-liner.

Soon 7 an I can put on a song. Neighbors.

Hey guys,

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.

We currently have around 1.5 BTC, and our ultimate goal is to be able to use that to help us buy a house and be able to retire at some point. Nothing too crazy. I'm hoping this bull cycle we'll be able to at least get a decent down-payment on something, then maybe over the next cycle or two be able to pay it off.

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.

Since it's impossible to predict exactly what will happen to BTC price over the coming bull market, I'm hoping to get a decent return over the course of the cycle without completely selling all of our BTC. Then when it inevitably flips bearish again, start DCAing back in like we have been up to this point.

What do you guys think? Does that sound like a reasonable strategy? Is there anything else I need to consider?

Thanks  :-)