Topic: Cash out after having investment trippled in bitcoin! - page 2. (Read 9416 times)

It's your brother's investment so he has the rights to decide on what to do. Whether he would cash it our or not. Since he already risked by investing and saw that it tripled, maybe its already enough for him.
If you also want to invest and gain, better ask your brother for some advice. Bet he's the one who can really help you.

Do not be sorry that you did not. So it was necessary. If you want to invest now, then you should wait until the market has a little rest from a strong impulse and gain strength to move higher.

Forums, chats and news outlets are simply the wrong avenues for meaningful price prediction. Almost all answers you’ll get will be from retail investors or just people who aren't trading to begin with. How do you expect these people, who have nothing to back their claims, to give answers indicative of future price? I would suggest you need a history log of past experiences, AKA trades, to justify future predictions from anyone.

We can't call that choice wrong because he got profit and that matters the most in investment, profit is profit, doesn't matter how much and especially here when he got 300% back. You can hold and wait until bitcoin reaches 20K and more but no one can say that 100%. What if some days ago seen 13k will be the last and most high?
And also as some people say there only supporters hold bitcoin, can't agree at some point. When you don't move money and it's frozen in one place, that's bad for economy too.

Let's see if I can do this in ascii art

                                                        sell
                                         sell            /\
                          sell            /\            /  \
               sell        /\            /  \          /    \   reach goal amount, coast or retire
      sell      /\        /  \          /    \        /
sell   /\      /  \      /     \       /      \      /
  /\    /  \    /    \    /       \     /        \    /
 /  \  /    \  /      \  /         \   /          \  /
/    \/      \/        \/            \/            \/
buybuy buy  buy         buy        buy

             time ->

If you read Andrew Cook's investment tutorial PDFs you should buy when it's low and sell when it's high.  So you need a way to do that with minimal fees.  You take your profit from one cycle and invest it in the next one plus your original principle so you can keep making bigger and bigger investments.  Buy a CD with it or put it in a savings account between cycles.  If you dip in and take some out then you don't have that to invest so it will slow down how fast you get to your goal amount.  I can't imagine just buying and holding.

If you have a profit that varies randomly between 150 and 400%, you can start with $450 and get to $1 million in about 7 cycles.  Once you reach your goal you can start taking money out and have an income from it.  The science or luck is in picking the times to buy or sell.  And maybe some day I can afford an Antminer.  But watch bitcoinwisdom.io, mostly buy or sell when the fast and slow moving averages cross.  Start with $10 and it takes a few more cycles, the more you can start with the more you jump ahead.

The Andrew Cook I'm talking about lived in Chile and started an investment firm around bitcoin.  I have 5 PDFs which may have come from saving his 5 articles from Firefox.  They're loosely titled "How to make money trading bitcoin" but other people have written articles with the same title.  They seem to have vanished, I think somebody's trying to sell them.  There's at least 1 part on Scribd but I'm not going to pay for it since I already have it, I was just trying to find a URL to post here.  If you can get a message to me with your email address I can email the pdfs I have.  You could also search for "Cook Investment firm" which was his company then.  He did make at least 1 post here on bitcointalk.org so I imagine he still has an account here.  There's some stuff on reddit with images on imgur.  He's doing day trading of bitcoin now I guess.

Well just because the price was up once , I actually waited it to go more up and then again it went to 3k and it was kind of depressing thus you know I don't mind if I encash and keep them in the bank once my investments have trippled , infact I kind of like that idea.
Just because it may be going to be worth a million doesn't mean it will necessarily hit it , it may go down to zero one day and we might repent.

I think we should encash some and not keep everything in there.
Periodically encashing I would say.

No one who is still working with cryptocurrencies regrets it, otherwise, he would sell it and start dealing with something else. It is natural when someone sells BTC - it is done only to buy it for a lower price and hold crypto again.

For Linux users that want an onscreen bitcoin price near your clock, try my ticker from https://sourceforge.net/projects/btctick/  It's for LXDE, I don't know if it works with other things.  Free of course.


These seem to be the pins and needles times of deciding what to do.  Stay in or cash out and reinvest the profits on the next cycle.  Which gives you more leverage because you could make a bigger investment.  But if you cash out and it's really still going up you've not only lost that extra money but you have to wait longer for it to bottom out so you can buy again.

https://bitcoinwisdom.io/markets/bitfinex/btcusd

I thought I had gotten seniority enough to post images here, but I no longer have a host for them.  Anyway, look at May of this year.  There were fluctuations for weeks but no net change, then about 1/3 of the way into June it started rising again and went from about $8000 to about $12000.  You should be able to see that on bitcoinwisdom if you set the time interval to 1 day so that you're seeing May.  I think we're seeing that again.

If your goal is to have more cash in the end you should sell and hold cash. My goal is to have more bitcoin so when I sell ist's not to cash out buyt to exchange for something stable and wait it out to buy more bitcoins later.

People are driven by greed and hype and they always lose interest after a while. Now it's crazy because bitcoin was going up for a while but you can feel the buyers becoming exhausted and thinking about spending their profits.

If your brother lend 1 bitcoin and turned it when bitcoin hikes, he is definitely lucky!
Imagine, 1 bitcoin was 3,000 dollars before and right now, it reached 13,660 dollars. He almost had 300x profits for just a month! What a great surprise for an unexpected movement of bitcoin. I hope this will still continue until I got my profits.

I think your brother has been on cryptocurrency for a long time because your brother dared to speculate to buy bitcoin and already knew in the future if bitcoin would be in a high position. I think it's a good thing and you can copy it so that you can get profits like your brother

I invested actually in bitcoin when it was 5k dollars. As of now, I am enjoying my profits in bitcoin. I thought I was just trapped when I saw its reversal movement until it reached 10K dollars.
I guess you have regrets in your mind and heart. But it is so good that your family specially your brother accept cryptocurrency. Just wait for your perfect timing. You will get a lot someday.

Also, you are in weekly payment campaign. It will also be your luck to receive payment when bitcoin surges.

More opportunities will come for sure, it's a matter of being alert and having faith in the technology.

I am glad of your brother's success story. In fact, this community needs a lot more of those success stories that i'm pretty sure exists shared. Because then everyone can see the two different faces of everything, not just the negative stuffs some individuals say.

There's a lot of opportunities when you're helping shape human kind's future.

I think making a choice of investing in bitcoin requires great mental strength, the market can fall anytime and the market can surprise many people. I think your brother's steps are very good and it can make a good profit.

I also don't buy bitcoin and only watch people who have big profits from bitcoin.

Don't you worry, mate. The more and longer you are immersed in the world of Bitcoin, the more you will see patterns and consistency that will make you more confident the next time around. Eventually, you will realize that there is no point doubting Bitcoin. It has gone through the worst, hell, even death! Countless deaths! So if it goes down in price, get those savings out and buy a lot, be patient, and wait for the better days which will definitely arrive.

No Pain No Gain.
If you won't take the risk, you won't get the profit.

For me, you already consider as lucky trader because you are aware of crypto trading but you're still lack of guts !

Your brother has good money management & decision, at least he ended the trading with the profit not loses taking your own money investment was really important. I also took my profit went 2-3x bitcoin price because i holding since 5-10 month and i have bils to pay that's why i taking profit from my investment. Well if your brother wants more high profit his should sell only 30% from his investment to taking back his money from the investment he can sell/hold the other 70% of his asset.

Cashing out of bitcoin trippled is not a bad idea since there is already a huge profit that must be considered. But in my position, I would still choose to hold and trust the volatility of market. Because I think there is a possibility that it could reached up to $25,000 which will bring him more profit.

each of our decisions, we will get opposition and truth and support, but this is the reality of life that must be lived or the risks that exist, this is us who must dare to make any decisions that will happen but that's where we learn a lot so I don't think and always convinced of our decisions that we believe to be true, I am sure we will get all the results of this decision like Bitcoin.

What I'd like to do is a series of buy low, sell high steps, reinvesting the profit from one peak into the next one.  I wrote a somewhat silly simulation program, the output of which is like:

Start with how much? 450
Goal is? 1000000
invest $450.00, get back $1474.03 (randomized profit 328%)
wait for price to bottom out
invest $1474.03, get back $4809.05 (randomized profit 326%)
wait for price to bottom out
invest $4809.05, get back $12700.42 (randomized profit 264%)
wait for price to bottom out
invest $12700.42, get back $46824.96 (randomized profit 369%)
wait for price to bottom out
invest $46824.96, get back $149630.09 (randomized profit 320%)
wait for price to bottom out
invest $149630.09, get back $594102.06 (randomized profit 397%)
wait for price to bottom out
invest $594102.06, get back $1276485.25 (randomized profit 215%)

My initial investment is somewhat expendable, I wish I'd had more to spend.  I would expect each cycle to take a year or so.


I was thinking supply and demand, since the supply of new bitcoins is drying up it seemed like that would push the price up.