Topic: Can I really hold onto my bitcoins in the future? - page 4. (Read 795 times)

I would not sell before the halving. And I would not sell after, either. If you absolutely need to spend money, then go ahead but selling for the reason of being worried about the Bitcoin price will always go wrong. Either you believe in your investment or you do not but you need to make a choice otherwise you will end up buying high selling low.

I understand you quit well, it is difficult not securing a job and yet you suffer to feed why you have Bitcoin in your possession. I will sudjest you sell some portion of the btc, and take care of your responsibilities. but you should not sell small,you should sell some and use the money to find something doing that will be fetching you money to replace the sold amount of bitcoin. If not you will sell your bitcoin and yet don have a tangible thing to get hold of. The important thing about bitcoin investment is to hold for long and enjoy the fruit of the labour and also have a peace of mind in the long run. but if cercumstances surrends you, you have no option than to accept it by selling your Bitcoin. But if the money comes later you can replenish it.

I think you didn’t get OP message properly, read again you will notice that he already invested in bitcoin after his advised him to and it’s been a while now so he have realized so profit from the investment but he doesn’t know what to do wether to sell at this high price or keep holding his bitcoins. He is confused because he knows bitcoin has the potential to increase on price but he is currently faced with financial problems and is funding it difficult to get a job. He is considering selling his bitcoins and use the money to start up a business to relief him from financial difficulties. He needs advise from experts here so he doesn’t end up making the wrong decision since bitcoin can still increase in value.

Holding is a very good thing OP and if not for the sake that you are facing financial difficulties i wouldn’t suggest you sell your coin just yet as we are expecting bitcoin halving very soon and it is known that after every halving bitcoin always increase in value and always hits a new ATH.

The problem now is you are desperately in need of money and what use would your investment in bitcoin serve if it doesn’t help you in desperate times because that is the purpose of every investment, to elevate our financial status. The only wrong thing you did was that you didn’t plan out your investment properly before investing in bitcoin, every investment plan is supposed to include a target price or point where you take out profit to solve other problems if you had a plan you wouldn’t be thinking of selling your coins as it stands.

I wouldn’t see the use of your investment if it can’t solve your problems at desperate times, I don’t know how much money you have accumulated from your investment but if it is more than enough to get your business started then you should withdraw part of it and start your business then keep holding the rest for as long as you can and keep accumulating more when your business grows but i won’t advise you to sell all your bitcoins because when you sell and bitcoin hits a higher price it will cost you more to buy again so having bitcoin now is like an opportunity so don’t do thee mistake of selling them all so you don’t have regrets in future because bitcoin potential is so high and we likely to see it go even higher in future.

Regarding your investment in Bitcoin, the decision to sell or hold your Bitcoins is a difficult one, especially given the recent surge in the market. The key to making this decision is to carefully assess your current financial needs and the potential for your investment. While selling your Bitcoins could provide you with the capital to start a small business and support your family, it's crucial to evaluate the long-term implications of selling at this point in time. Consider seeking advice from a financial advisor who can provide you with an unbiased perspective on your investment and its potential for the future. Additionally, exploring other job opportunities and avenues for generating income could provide you with a more stable financial foundation.

If there is a reliable coin in the crypto market, the name of Bitcoin will be on top of the list of most reliable coins. Among the investors who invest in crypto platform, maximum investors invest in Bitcoin first and then those investors invest in all other coins. Bitcoin's value and its popularity are high and it is a very reliable coin so in long term plan an investor can invest in this coin if he wants. You can hold Bitcoin for a long time by investing in futures as well as you can hold Bitcoin for a long time by investing in the present if you want. In general long term planning especially with Bitcoin there is no need to think so much about timing as the price changes quite a bit over a period of time.

Firstly, keeping money in the bank is never a good idea, the banks are making huge profits through your money and never giving dividends. Why don't you use your money to make money for yourself?
Second, you can't tell me you have fiat currency as savings and I will agree with you when the currency is losing value every day.

Bitcoin hasn't increased yet buddy and the time you'll experience the increase in the price of BTC is when the block is halved.
I will advise you to hold onto your BTC which is a better investment now than the business you want to start which you cant big benefit from days after you start cause it will take some weeks before you start getting something from it.
After the block halving, you can sell some portion of the BTC and start the business.

the reasons why some people hold their Bitcoin for long time is because they have another thing that is fetching the money and that is why so many of them who would their bitcoin for long time will not touch their Bitcoin because they know their plans of others whereby you don't have anything that is giving you weekly income it is obvious that you can touch the money you keep for your investment because there is no placement or more one that is subtiting it, so what I am saying is that holding a bitcoin is based on your plan it is not based on the price increase in and the price decreasing so it is based on your determination

You are lucky Bitcoin price has appreciated so, you will not be withdrawing at a loss. If you can be patient till after the halving in April,  you will earn higher than you would earn if you withdraw now. This is the reason I always advice Bitcoin enthusiasts to have other source(s) of income to foot their day to day expenses so as prevent premature withdrawal of their investments to settle urgent needs.

Bitcoin investment is profitable if you can hold for long. The essence of holding for long is to enable your investment beat the Bitcoin price fluctuations and still arrive at huge profits. Over relying on your Bitcoin investment will not help you hold for  long. I just hope the business you intend to establish flourishes so you can stand on your feet again.

Op is somehow confused and he needed to go back and understand the topic and what he had writen so far.
It is go for us to make investment but it would be bad if we don't follow up our investment because that is the only way we could make mk eh in the market. There are so many opportunities in the crypto market and op can benefits if he knows what he's doing rather trying to know the future of Bitcoin if it will be a successful journey. There is nothing to keep bothering about and taking decisions should be the next move.

The op is misplacement of priority and confused in real life before even the forum. What really concerned what happened to one in real life with forum. Everyone has their life history and if those histories are written here then the purpose of the creation of the forum becomes a historical gathering where people came and tell their life history. There are almost 3 or 4 different biographical stories by the op which is not the purpose of the forum. People brought this kind of stories for sympathy but when the sympathy has given what next? Holding onto bitcoin" became life history.

Well since he also asked for advice then I will advise him that he should not bring his family problems to bitcoin investment because he cannot invest in bitcoin with family problems and if he does he won't survive.

He stated that he is unemployed and that he has already invested in bitcoin and has most likely profited from it; however, if he does not have any job to support his investment, he will most likely withdraw it because he will have many issues to solve, and because he does not have any source of income to handle the problem, the money he has invested will be empty one day when he withdraws it. In my opinion, if you don't have much to do with the money right now, you can wait for the bull run and make a large profit. because you intend to make decisions in two months before doing everything that comes to mind. Investing in another coin other than bitcoin is extremely dangerous and can result in significant losses. Because I trusted bitcoin more than any other coin, I invested the majority of my funds in bitcoin to get huge profit, am just waiting for the bull run because have not awear of it before, am just hearing my mentors are saying about it very well.

I am simply telling you that you have some idea about the business and according to your capital you can choose the business that is right for you as your business. Since you have posted on the forum it means you must have an idea about Bitcoin and if you are a believer in the crypto platform you can invest or trade if you want. If investing or trading doesn't feel safe to you, you can start any physical business. What is your budget Depending on the budget you choose a business that you can manage well and from which you are more likely to succeed. Don't start a business where you don't have the slightest idea, you might fail there.

You don't include the price that you bought your Bitcoin at, but you do talk about this present high price meaning that you are already in profit, there is nothing wrong in selling now and starting a business, your well-being is far more important.

You can always come back and start buying Bitcoin again, but you need a source of income first, thats why the business is very important.

If you start a business now you will start making money and using some percentage of your income to buy back Bitcoin later, and not just this only, you will be able to live a comfortable life, the lack of income stream is why investment is very hard.

Think about it.

You can sell your Bitcoin if you are very okay with the current price in the market, because the bullish season is still on ground and it will make that Bitcoin to bring huge amount of income that will help you to establish another business that will make you to have different sources of income, which is everyone dream. Don't let anything stop you not to purchase Bitcoin when the price decrease in the future, because if you are not careful, family issues can make you to spend everything and when the bearish season come nothing to invest which is a bad attitude. I will advice you not to quit that your job that is giving you some money monthly, so that when there is a long bearish season you will be using the salary to do other things to solve your family issues, and then continue holding your Bitcoin.

Your story is very beautiful and it is very admirable that you were interested in investing in Bitcoin at that time. now bitcoin is at $70k and a bit more and meanwhile you are going through a bad time investing in bitcoin or somewhere else is meant to back us up in bad times so if you are in a situation where you have enough money or means to back up  If you don't have it, you can sell the bitcoins now because they have pumped enough and it is now in the new ATH. When your situation is better and you find some source of income then it will be better to continue investing in Bitcoin again using DCA method.

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.

Should you be out here hoping someone would advice you to sell off all your hodlings with hopes of starting some other investment and perhaps reinvest in Bitcoin later on in the future, you would be looking in the wrong place.
Don’t forget, Bitcoin it in itself an investment as well as a currency. So,

So in actual, what you’re proposing is that, you want to end one investment just to jump into another investment filled with uncertainties… is that it?

It doesn’t make sense to me. That would be a poor way to make a decision. In your bid to increase and solve problems, you try not to off any stream of income and this right now would be laying off your Bitcoin investment.

Diversification is good practice but, your not diversifying when you loss another stream of income. Best thing to do would be that, you sell just a part of your portfolio and startup a properly researched business. That would help you more.

As a man, it is very important for you to help your family, especially when you are the only male in your family, because everybody in your family will be dependent on you. It is good that you try to stand up for your family so that you and them can survive. Honestly, the price of Bitcoin has been pumping currently.

In my opinion, it would be better for you to sell part of your Bitcoin and establish another business where the success of your income will come every week or every month, and from there you will be able to get some amount of money that you can use to help your family's without touching any of your Bitcoin.

Because if you mistakenly sell all your Bitcoin now, you will come, and regret when the bull run arrives, after you see that many of your friends have earned so many profits. But with this little business you start, it will give you so much profit that you can even use it to buy more Bitcoin to hold against bull run.

This is not time to fear is time of courage of holding because the set long awaiting time is almost near, any one who is holding should hold because very soon the ATH will occur.

Allot of advice is already in the board that may seem related this but you need sacrifice just the period by cutting down some of your expenses inorder to keep holding, because there is light at the end of the tunnel.

Well, our opinions really matters to your decision making? Because I don't think someone can give you what the right thing to do but only you.

You need to assess your situation if you really are happy and satisfied upon selling those Bitcoins for you to start that business you're planning.

We're investing to make use of it and I guess that's one of the goals that someone can achieve and will not just keep the money for nothing.