Can I really hold onto my bitcoins in the future? - page 2.

macson

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Quote from: MrNata on March 27, 2024, 02:45:28 AM

... I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

i give advice as a friend, improve your income first, then you can invest in bitcoin with peace of mind.

if your income only comes from bitcoin then it is wise enough for you to sell the bitcoin you currently have - open a business - then buy the bitcoin back using the DCA method after your business makes a profit, there are many people out there who don't understand the tricks of investing in bitcoin so they sell their assets, their house is just to buy bitcoin but in the end they actually lose because they have no income and have to sell the bitcoin they are holding to finance their living needs.

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Quote from: 2Pizza410000BTC on April 12, 2024, 01:59:40 PM

Quote from: MrNata on March 27, 2024, 02:45:28 AM

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

If you need a lot to sell right now you can sell your bitcoins but I don't know how much you bought bitcoins and how much you invested. But right now the market is around 70k if you want you can invest your bitcoins and if you can be patient for a while you can probably sell at a higher price because after some few days bitcoin will halve and the price will go up. Even then selling bitcoins is yours. Personal Decision You can sell according to your personal decision. But one thing should be remembered, if you can be patient for a few days, the result of patience will be very beautiful. Most people are not selling their investments right now because people are holding on for a year or a few years to see the next half and get a taste of the bull market after half. So hold off unless you need more I think you'll have more success.

Not even the most experienced users have a crystal ball and know what will happen in two months with the price, and on the other hand we don't know about your business plan and your skills to put it into action, so what you are asking is not only hard, but impossible IMO.

You should make an honest SWOT analysis and consider if you have more chances to succeed on your own than letting yourself be carried away by the bullish but ultimately uncertain market.

2Pizza410000BTC

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Quote from: MrNata on March 27, 2024, 02:45:28 AM

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

If you need a lot to sell right now you can sell your bitcoins but I don't know how much you bought bitcoins and how much you invested. But right now the market is around 70k if you want you can invest your bitcoins and if you can be patient for a while you can probably sell at a higher price because after some few days bitcoin will halve and the price will go up. Even then selling bitcoins is yours. Personal Decision You can sell according to your personal decision. But one thing should be remembered, if you can be patient for a few days, the result of patience will be very beautiful. Most people are not selling their investments right now because people are holding on for a year or a few years to see the next half and get a taste of the bull market after half. So hold off unless you need more I think you'll have more success.

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Quote from: Ruttoshi on March 27, 2024, 02:54:54 AM

It depends on your situation and the scenario playing around you right now. If you can wait for some months without it affecting your daily needs, then it is better to wait than rushing to sell your bitcoin. This is because after the halving we are still expecting a higher price than this. Bitcoin price peak which will be the recorded as ATH for this circle will be next year.

On the other hand, if you don't have any means of surviving, and it is a must for you to sell your bitcoin to survive, it is better that you sell it to survive, than hodling it so that you don't die and live your bitcoin investment. You should also take note that for you to be able to hodli your bitcoin investment for a long period of time, you must have means of income, so that situations like this, selling your bitcoin will not only be the option.

It may or may not be, we have to look at our financial condition first and also look at the graph of every day bitcoin movement, the current economic condition is that the average person doesn't save money for long because spending needs are high so if there is a set of bitcoin it will also increase. sold even if not all at once, this is different from people who have more savings so they can still postpone their assets first, because they still have a lot of daily needs and bitcoin is also saved and will likely double. Bitcoin is a future asset, it is predicted that in 2025 there will be an extraordinary increase of up to two billion

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Investing in Bitcoin is a good decision but you can't rely solely on this because this won't generate profit every day.
In order for you to help your family, better find a stable job while still investing just to support the daily expenses. Then it was not difficult for you to stay hold of your Bitcoin for a long time in this situation. I don't know what advice your friend gives you but whatever it is, you need to think it wisely before making a decision. Don't rush in making a decision, you can also ask your parents as well as it will be good when everyone in your family is involve.

moneystery

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it's your decision whether to sell your bitcoin or not, you should know which one is best for you. but if i were you, i would sell my bitcoin and choose to open a business, because the most important thing is how we can secure income first, the issue of investing in bitcoin is a later matter, the most important thing is how we can have income. moreover, if you already have income, later you can also reinvest in bitcoin and build your portfolio again.

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Quote from: AirtelBuzz on April 09, 2024, 02:42:08 AM

How long a person will hold his invested bitcoins depends on his investment strategy. There are many investors who invest short term and invest long term. But those who are true bitcoin investors and who want to hold a large amount of bitcoins opt for long-term investments.

I believe one should do both, take profit when the time is right and then keep holding the remaining assets for long term but holding forever doesn't sound like a great idea to me. I know that Bitcoin tends to grow higher in value over time but it doesn't mean we should avoid taking profits when the market peaks and then starts crashing because if you sell at the peak, you can buy again after the market crashes and enters the bear market.

With this strategy, one can earn more profit than just holding and not selling anything at all whether the market goes up to $100k and then goes back down to $30k which isn't wise in my opinion. If you sell at $100k, and then buy again at $30k, you will have more profit when it goes back above $100k in the next cycle.

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Quote from: CageMabok on April 06, 2024, 09:12:37 AM

Quote from: Volimack on April 06, 2024, 01:31:05 AM

You can hold bitcoin for future but one thing to remember is that you can never deal with emergency with bitcoin. Bitcoin long term investment gives good profit to wait for it. Invest according to your financial capacity Don't rely entirely on investments have other sources of income to meet emergencies. It will be easier to protect the funds if you have to invest a fair amount of your income source.

If the emergency situation can still be met with other income or by increasing the amount of income through other work, I don't think this will be difficult enough for those who like to save Bitcoin in the long term by considering it as an investment for the future. The opinion you put forward is also quite reasonable because the goal is to be able to earn other income in order to maintain our own investment in the long term. But emergency situations can always be handled well if someone still has a source of income every month, because we don't have to use all the money we get to buy Bitcoin, although that's not wrong for everyone to do.

Well, its really hard to cater to emergency situations if you don't have a stable job that pays you regularly. While bitcoin can be a good and profitable investment, but knowing its long term, you cannot rely on it completely 24/7. The best solution to this is find a real job that gives you a good amount of compensation. It may be hard for you to land at present but if you never stop looking for a job, you will definitely find a decent one in the long run. And still, continue to invest in bitcoin for long term. But I believe putting all your funds into a single basket is not good at all. Learn to diversify as well so that you will gain multi profits in different time.

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Quote from: Bd officer on April 09, 2024, 12:19:45 AM

Quote from: MrNata on March 27, 2024, 02:45:28 AM

............
I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

OP you said you decided to do business by selling bitcoins. Bitcoin halving will happen soon so expect to see Bullran in 2025. If you can hold on to your investment till 2025, you can expect to reap more profits.

Since you will need money for your family needs, it will be better to sell bitcoins for doing business. Now if you have profit in investment then you can start business by selling bitcoins. If you can make a profit from the business in the future, you can invest in Bitcoin again at some point. Now you consider which would be better.

I agree about the Bull run into 2025, this follows historical post halving Bitcoin market movements
and most likely will happen again.

Quote from: MrNata on March 27, 2024, 02:45:28 AM

I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business.

The OP has to ask the question, am I going to make more money working to develop a new business
or make more profit by riding the post halving bull run?

If it was my decision I would keep my Bitcoin.

With a new business the OP can expect to have setup costs, I'm my mind this is a double step back,
liquidating a valuable asset in order to spend the FIAT in something which has a gray future,
personally I would be wary of setting up a business.

In my country there is a statistic that states 80% of new start up's dont make it !

DubemIfedigbo001

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Quote from: Davidvictorson on March 27, 2024, 02:48:11 AM

You say you have two months to make a decision,the halving even is in less than two months. You can make you decision to sell after the halving if you haven't gotten any employment then.

I think you shouldn't be in a hurry to sell now, irrespective of the challenges, try getting an odd job to complement your earnings. You've had in your mind that selling your investment is an option to solve your family needs and as such had some level of laxity on your serious job pursuits, knowing fully well that there's a backup somewhere which is your fallback plan. This route I actively discourage you to take.

Its not too late, you can still condition your mind that your holdings isn't an option to solve present needs and strive hard to meet your needs with other positive means necessary, this will work out for you.

I will tell you a short story. A year ago, I was considering relocation from my current place of stay because my IT skills were not very much in demand there. I had a friend which after selling him a software solution for his company, he queried why I intended relocating with the beautiful handwork that I had. I gave him the lame reason mentioned above and he reprimanded me with the following words. "You're the problem because you've not determined to make it here with your talents and intelligence, your considering other options, and if you decide to stay here and give in your best to make it, I'm sure you will". That night I decided that I'll not run away from the problem, but solve it and excel. Today almost 13 months later, I have clients and most of them are from my colleagues who relocated. They direct all their clients to me the last man standing.

You've two months to make a difference and I encourage you to make the decision of not tampering with your coins today and work in that direction, give it your all and nature will comply with the solution to support your decision.

AirtelBuzz

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Quote from: Truthlovecoins on March 27, 2024, 05:53:09 PM

I think it is possible to hold unto your Bitcoin into the future even up to a decade if you may.
I have read posts here that talk about holding or accumulation of Bitcoin for a long time until one decides he/she wants to sell them or withdraw it or invest the Bitcoin to buy other altcoins and shitcoins.
You just have to be more consistent in this forum to learn how to safely do it and the needed tools to attain that goal.

How long a person will hold his invested bitcoins depends on his investment strategy. There are many investors who invest short term and invest long term. But those who are true bitcoin investors and who want to hold a large amount of bitcoins opt for long-term investments.

You mentioned that after reading the posts here, you found out that most investors advise holding Bitcoin for the long term. Yes they are right because if bitcoin investment is not held for a long period of time you will not get proper profit from your investment. Moreover, the more knowledgeable you are about investing, the more profitable you will be in your investment or the more successful you will be.

HajiBagi

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I can't really offer you much advice because it all depends on your current circumstances. You can't hold bitcoin and still be in pain with your family, even though holding onto it will help you because it will grow in value over time. At this point, however, you can sell your bitcoin and use the proceeds to launch a business. You can also use a different strategy by selling some of your bitcoin but not all of it, giving you hope that you will be holding onto it for the future. You made a wise choice as a student by investing in bitcoin, and I think you will now make a lot of profit if you decide to sell it. No matter what happens in life, try to be content before doing anything else.

Since your only source of income is bitcoin, I would advise you to sell it and launch a different business to support your family first. If the new venture is successful and generates income, you can then use that money to invest in bitcoin. As an added bonus, you can use the proceeds to support your family in the future.

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Quote from: MrNata on March 27, 2024, 02:45:28 AM

............
I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

OP you said you decided to do business by selling bitcoins. Bitcoin halving will happen soon so expect to see Bullran in 2025. If you can hold on to your investment till 2025, you can expect to reap more profits.

Since you will need money for your family needs, it will be better to sell bitcoins for doing business. Now if you have profit in investment then you can start business by selling bitcoins. If you can make a profit from the business in the future, you can invest in Bitcoin again at some point. Now you consider which would be better.

Solokan

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I hope you have to be patient with the situation that befell you and I also hope you get a good job soon.

with your situation of being unemployed for years is certainly not an easy thing to get through and I personally have also experienced being unemployed for years and how it feels to endure the pain of life but usually as long as we try as hard as possible we will get what we want.

op of course you have experience in the btc field even more than me because you have known btc since 2019 i don't think you need to regret because you didn't sell when the price of btc was high because of course the btc halving is only 11 days away and now the price of btc is also rising is in the $71k range.

I think you are still lucky because you invested in BTC and in my opinion, if for example you don't have a job then you can sell a little of your BTC for small business capital and if you have profits from your business and are interested of course you can buy BTC again using a little profit from the results of your small business and finally until you return to having BTC as before sale.

Of course BTC in the future has the potential to be higher in price but of course the decision is in your hands and you know the situation better about yourself and I hope you don't give up and keep up the enthusiasm.

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There is one thing you must know about bitcoin investment and doing small scale business as you wanted if you want to keep monitoring your bitcoin then I will advice to do DCA to increase your bitcoin holding with this you can make more profits, but if you totally think that you have hold upto the maturity level you think you want then you can sell off and put the money into physical business that you want to run for yourself. As popularly said do not put your eggs in one basket because when the market drops more than your expectation it gives you blood pressure you are thinking of selling out your total holding for real life business and there no law that holds you not to sell of your investment if you want, what matter is that you shouldn't sell of and start regretting tomorrow for not holding for years.

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Quote from: MrNata on March 27, 2024, 02:45:28 AM

<✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂> I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

You can, If you are not at a loss then I think you should sell your bitcoin and you can start a small business to help your family. And I also think that from 100$ dollar if you wait for one more year then you can make profit likely 2x or 3x even then 300$ is not much thing I think you should start a business if you don't have any other options. If you don't use your funds in an emergency situation, when will you use those funds? For your situation I think holding is not a big deal you should start business I hope you will able to have more holding in future more than current.

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Quote from: AakZaki on April 04, 2024, 02:48:29 PM

Don't complicate your life too much with investments that you should use for urgent matters, because one of the goals of investment is to solve problems related to your finances.

That's what most people don't understand when they are making investments in cryptocurrencies. They don't think about the money they are using for their investments because they have heard that Bitcoin and cryptocurrencies generate profit on investments and they rushed to the market to make their investments, but they aren't told the downsides of the market that might not make someone lose money but it can surely make them lose time.

Bitcoin and cryptocurrencies move in a cyclical movement pattern which means there are two sides of the market, one is the bear market and the second one is the bull market. Now people who refer new investors to the market don't tell them these things in detail, so they don't know that their investment can sometimes take years to yield them profit.

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Quote from: MrNata on March 27, 2024, 02:45:28 AM

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

To be frankly speaking, if you can equally live two good complete months without you selling your Bitcoin, then it actually means you don't need this your Bitcoin in other to survive, because if it's just 30% of the $100 you said you were been paid for the part-time job you said you were doing for 3 years that you had invested in Bitcoin, I'm sure by normal calculation, the money would have been roughly $30 x 36 = $1080. And if by virtue this was the amount you had before the recent BTC pump in price this year, then I'm sure you should be having approximately $2000, which is still not bad, if you can use half the money for a little side hustle, why you save the other half for the fourth coming bull round.

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Quote from: MrNata on March 27, 2024, 02:45:28 AM

Hello all forum members. I am new to this forum and this is my first post. I have been familiar with Bitcoin since 2019. In 2015, when I entered my Honors first year at university, my family situation was very bad financially. I told my family situation to the head of my university then sir gave me a job opportunity. In the house where Sir lives, he has a neighbor, an old woman lives there. The old woman's children lived abroad and had citizenship there. My job was basically shopping for him, withdrawing money from the bank, basically working as his runner. He paid me $100 a month. I could save $30 dollars a month and put that money in the bank. The old lady died just three months before my honors final exams started. I worked under that old woman for three years and seven months. After completing the final exam, I was not sure what to do with the money, whether to keep it in the bank or not, then a friend of mine told me to invest the money in Bitcoin. I didn't think about it at first but I spent a month browsing the internet about Bitcoin. Later I became interested in Bitcoin. I withdraw my bank money and invest in Bitcoin. I don't know why I didn't sell Bitcoin when it reached its highest price. Currently I am unemployed for three years after completing my studies. I am trying hard to find a job but luck is not helping me. I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

For me, I think you should not sell it, because the way Bitcoin is going I think any one that accumulate Bitcoin before now in his portfolio is going to smale at the end, but one thing I see in investment is that before someone could think of investing in Bitcoin,one suppose to have another source of income so that Incase of a any imagency, so that you be can able to manage your self with out touching your investment in your portfolio..

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Quote from: Volimack on April 06, 2024, 01:31:05 AM

You can hold bitcoin for future but one thing to remember is that you can never deal with emergency with bitcoin. Bitcoin long term investment gives good profit to wait for it. Invest according to your financial capacity Don't rely entirely on investments have other sources of income to meet emergencies. It will be easier to protect the funds if you have to invest a fair amount of your income source.

You can hold some of your bitcoin and sell some of them while you are still in search of a decent job, that way, you can be able to help your family since they are struggling economically. Hodling may provide significant profits in the future but know that you can’t completely rely on it for your source of income or for daily survival. Once you hold, that means you won’t touch your bitcoin investment, so invest only on your spare money, not totally your hard-earned funds, otherwise you will struggle more in your finances while waiting for bitcoin price to reach its all time high.

Topic: Can I really hold onto my bitcoins in the future? - page 2. (Read 937 times)