Do you have a Bitcoin exit strategy? - page 2.

Kelvinid

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Quote from: Yurkov on March 18, 2021, 05:58:15 PM

Sell in chunks, don't sell at one price. I did this mistake of selling half of my holdings at 24k while remaining half at 30k. So in the end I am at loss, should have sold in small chunks of 5% or 10%. Make sure you exit before this bull run is over.

What is the price at the time that you buy your Bitcoin? because that you at loss, it means that you are definitely losing or just missing the opportunity of selling it at a higher price?

In this nature of the investment, you can't guarantee that always it works well and give favor to us. If you bought it at $20k and sold it at $24k, it is a profit already, and that more selling at $30k. For me, I don't have to complain about it but to be thankful because that was big enough, and not all made it.

Ryker1

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Quote from: Noctis Connor on March 18, 2021, 07:30:53 AM

Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

^[snip]
if you are investor and really your goal is to make a good profit then sell when the price is right or necessary needed a money for financial status and then you think bullish is done then you should keep on eye on the graph because some if investors are waiting also to buy bulk of bitcoin just to make another small profits.

Well, perhaps no one will accept their losses for nothing if they don't need the money. Because for me, I will sell my bitcoin once I needed most of the money but if not --it is good if you are in a bullish trend to sell and get your initial capital of investment and hold the rest as much as you can and regain again and cut profit once there is. For me, I will not sell my all holdings at once, because I know that bitcoin is a good investment and perhaps another 20 years will pass bitcoin will double its price as of now. So cutting profit like 10-20% have a good advantage.

Yurkov

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Sell in chunks, don't sell at one price. I did this mistake of selling half of my holdings at 24k while remaining half at 30k. So in the end I am at loss, should have sold in small chunks of 5% or 10%. Make sure you exit before this bull run is over.

jossiel

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Quote from: jaresmerel001 on March 18, 2021, 06:26:52 AM

If the entire house of cards collapses, you'd be at breakeven if you removed everything you've put in so far.

In a highly speculative investment, this isn't a bas strategy. At the very least, you're not in any worse shape than you were before.

Yup, I agree.

Investors like me who have managed to buy it at the best price before whatever is going to come out or if worst comes to the worst. We're at the better place right now because we've made profit and we've probably sold at different good prices.

But if there's no clear of coming into that scene of being a worse to worst for bitcoin, there's no need for somebody to take an exit. Better to enjoy the journey and be part of those folks that holds it if it happens to reach $100k-$1M.

Fredomago

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Quote from: Ozero on March 18, 2021, 01:02:02 AM

Quote from: FIFA worldcup on February 20, 2021, 02:54:40 PM

Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Once the bull market is over, i will try to convert my majority of the funds to fiat and stable coins. This does not mean that i will quit crypto. This only means that i don't want to hold the coins in bear market and see my portfolio in loss. Instead i will try to invest in real estate or any other business which can give me regular income and also save money to buy back in the bear market.

I consider this a reasonable choice, the only problem is to determine in time the moment of release and sale of bitcoins at peak prices. The price of bitcoin can plummet and after that their sale will not be so profitable. It would be better to partially sell them at the current high prices and keep a reserve of money to buy bitcoin in case of a sharp price drop.
Of course, holding onto bitcoins is not an end in itself. It should be profitable. Therefore, it should be periodically fixed and be prepared for both the high price growth of bitcoin and its sharp fall.

Learning how to play well with the current situation would lead you to a much better position in case there's certain events that
happened with the price of Bitcoin.

It's important to know when to hold to maximized your profits and when to let go to avoid losing your money, in this view point
there's no accurate but it can guide you with every experienced that you have while working inside this industry.

Keep planning and make sure to follow each system that you build.

dunfida

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Quote from: gatti on March 18, 2021, 02:43:49 PM

Quote from: Noctis Connor on March 18, 2021, 07:30:53 AM

Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Why you always risking your money when you can totally not spending that much and not to lose that much , if you are investor and really your goal is to make a good profit then sell when the price is right or necessary needed a money for financial status and then you think bullish is done then you should keep on eye on the graph because some if investors are waiting also to buy bulk of bitcoin just to make another small profits. Follow your guts and you will be safe also do not forget to search more about others plan.

Yes, I plan to reinvest the money, not in cryptocurrencies but another investment. I think many people fall into this trap when they invest or win a big sum of money, they really don’t have a plan on what to do with their money. You always need a plan or an exit strategy when it comes to investing.I know a few people who invest in cryptocurrencies and I tell them the same thing. Have a plan when you decide to sell your cryptocurrencies. You may want to pay off some bills or buy something nice for yourself.

Nothing beats out the feeling on cherishing up your wins or profits via means on buying off your wants and wishes back in the past when you dont actually have the money to buy on.
Exit strategy would really vary on peoples preference.Some do like to reinvest and diversify.Some do only just like to hold and save it up for future because they are currently
not on in need of something.

gatti

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Quote from: Noctis Connor on March 18, 2021, 07:30:53 AM

Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Why you always risking your money when you can totally not spending that much and not to lose that much , if you are investor and really your goal is to make a good profit then sell when the price is right or necessary needed a money for financial status and then you think bullish is done then you should keep on eye on the graph because some if investors are waiting also to buy bulk of bitcoin just to make another small profits. Follow your guts and you will be safe also do not forget to search more about others plan.

Yes, I plan to reinvest the money, not in cryptocurrencies but another investment. I think many people fall into this trap when they invest or win a big sum of money, they really don’t have a plan on what to do with their money. You always need a plan or an exit strategy when it comes to investing.I know a few people who invest in cryptocurrencies and I tell them the same thing. Have a plan when you decide to sell your cryptocurrencies. You may want to pay off some bills or buy something nice for yourself.

Noctis Connor

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Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Why you always risking your money when you can totally not spending that much and not to lose that much , if you are investor and really your goal is to make a good profit then sell when the price is right or necessary needed a money for financial status and then you think bullish is done then you should keep on eye on the graph because some if investors are waiting also to buy bulk of bitcoin just to make another small profits. Follow your guts and you will be safe also do not forget to search more about others plan.

Coyster

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Even if the Bull run comes to an end, it doesn't mean a network crash or imo anything too significant, there have been previous bull runs that came to an end, and after a period of a couple of months the price starts again to appreciate in sporadic fashion, that's the thing about the BTC network, it doesn't stay down for too too long, so why fret by having an exit strategy.

Having said that, the thing to note is 'do not invest more than you can afford to lose', once this rule is obeyed, you do not even have to sell your stash during the start of a bear run, I don't plan on selling my Bitcoin to Fiat, with all the printing of money that's been going on in the traditional institution and inflation/hyperinflation that's going to rock most Fiat currencies, BTC is a hedge as well as a currency for it's users; the wisest of choices will be to remain locked in the Bitcoin network as long as you have other funds to take care of your daily needs,

jaresmerel001

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If the entire house of cards collapses, you'd be at breakeven if you removed everything you've put in so far.

In a highly speculative investment, this isn't a bas strategy. At the very least, you're not in any worse shape than you were before.

Reatim

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Eloncoin.org - Mars, here we come!

Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Since january 2020 , My plan is to sell all my Bitcoin when the price break down the 25,000 Price per bitcoin but the plan changed when the value increase continuously when it hits the 20k .
Then I make another exit at 40k and I made it then , and when the market had a correction i bought back at 32k and up to now waiting for my another exit in which 80,000 so maybe this will take me another long waiting before succeeding but i care nothing , This market will continue to go up this year.
And even if the price fell back down to 20k level? then i will buy more as i have saved half of my funds from 40k selling.

newwest

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Quote from: Amejoaquim on March 13, 2021, 08:06:36 AM

To be honest i don't really have that strategy, i'm just gonna sell it when my real life force me to convert it into the real money.

And i dont think it's gonna be long day for me to out from this investation, especially in this situation when theres a lot of big company who investing in BTC with Huge Amount.

Any investment in bitcoin, I do it for long term so mid-way crisis does not scare me because in couple of months or year it will be back again and more strongly than before. So anytime when the price has suddenly risen a lot and in my personal capacity require some money so do sell at times some part of it in order to maintain my expenses and also in this way book it for profits as well.

Ozero

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Quote from: FIFA worldcup on February 20, 2021, 02:54:40 PM

Quote from: Bergkampsballs on February 20, 2021, 01:41:19 PM

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Once the bull market is over, i will try to convert my majority of the funds to fiat and stable coins. This does not mean that i will quit crypto. This only means that i don't want to hold the coins in bear market and see my portfolio in loss. Instead i will try to invest in real estate or any other business which can give me regular income and also save money to buy back in the bear market.

I consider this a reasonable choice, the only problem is to determine in time the moment of release and sale of bitcoins at peak prices. The price of bitcoin can plummet and after that their sale will not be so profitable. It would be better to partially sell them at the current high prices and keep a reserve of money to buy bitcoin in case of a sharp price drop.
Of course, holding onto bitcoins is not an end in itself. It should be profitable. Therefore, it should be periodically fixed and be prepared for both the high price growth of bitcoin and its sharp fall.

Ziskinberg

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Quote from: ashmodeus on February 25, 2021, 08:04:17 AM

yes i am ,even how bullish this year ,there must be have some bear waiting for the right moment, and i wont get rekt same like 2017-2018 , for sure, i just believe bitcoin will reach 100k on this year, and when that come , i will sell everything, i also quite sure even shitcoins will grow like miracle, however i have plan to buy low and probably will kept it there for a long time . u know what, this scheme just keep repeating, no matter what happen , big pump will end by big crash and everything recovery together.

Experienced teaches us valuable lesson and I do believe the bear market will also come, the higher it rise that could be the same magnitude we will witness once the market is already in bear season. We just enjoy the bullish market, take profit if necessary but do not get FOMO if you are not really for long term hold as once you panic, good bye to your investment.

panganib999

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Quote from: Amejoaquim on March 13, 2021, 08:06:36 AM

To be honest i don't really have that strategy, i'm just gonna sell it when my real life force me to convert it into the real money.

And i dont think it's gonna be long day for me to out from this investation, especially in this situation when theres a lot of big company who investing in BTC with Huge Amount.

Market of cryptocurrency are so volatile having no strategy might put you in the situation that you may regret later on. I'm sure you need to assest and make yourself some realizations when it comes to trading or simply just buying and selling. It is okay if you don't want to make it full time trading but even the basics is a good fundamentals in making profit out of your money. BTC have reached another milestone, which is the ATH of its value. I think it is good because the value keep climbing up yet it is also dangeroua to ride as well as to invest because you don't know what would happen in the future. BTC value might also get down in just a snap.

Amejoaquim

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To be honest i don't really have that strategy, i'm just gonna sell it when my real life force me to convert it into the real money.

And i dont think it's gonna be long day for me to out from this investation, especially in this situation when theres a lot of big company who investing in BTC with Huge Amount.

mich

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For a long time I have always had the magic number of 100k in the back of my mind as a good exit point.

But now I am reading some experts predictions of 100k just by the end of this year so Im thinking I might wait longer.

Admitting it is going to take some strong hands to hodl when its at 100k price point.

eminan

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So I got heavily into altcoins (more than half of my portfolio), but I'm planning on selling most of my holdings in them (except Ethereum of which I'll keep a majority) and hodling most of by Bitcoin through the bear market. I'll use the profits from the alts and to slowly accumulate BTC for the next bull run.

I know the capital gains taxes will suck but I think this is the best thing to do considering the strategy I used. I didn't plan to get so into the alts but it was just so exciting that I went overboard. The alts I picked we're mostly top 100 coins so it wasn't too risky.

Now I'm just debating how much of the alts profits to put back into Bitcoin and how much to convert to stablecoins.

Anybody else take this route before?

ashmodeus

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yes i am ,even how bullish this year ,there must be have some bear waiting for the right moment, and i wont get rekt same like 2017-2018 , for sure, i just believe bitcoin will reach 100k on this year, and when that come , i will sell everything, i also quite sure even shitcoins will grow like miracle, however i have plan to buy low and probably will kept it there for a long time . u know what, this scheme just keep repeating, no matter what happen , big pump will end by big crash and everything recovery together.

Lorence.xD

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Quote from: hahay on February 22, 2021, 11:30:51 AM

I always consider the exit strategy from crypto but unfortunately it is not easy, because for me it takes a lot of capital to finally invest outside bitcoin. But it would be better for us to develop a personal business but unfortunately again, I don't have many skills to make a business. With such constraints it is difficult for me to get out of bitcoin, and at least I will continue to put a lot of effort into bitcoin until I finally have a better strategy to exit.

If you don't have an exit strategy, you can just get out of bitcoin by setting X amount of money in your wallet before going out. And you have to make sure that when you get out, you have to get a job or if you have a business for safety net for finances. Too bad that you don't have a skill for business but it is not the end for you, you can still learn some way to do some business, there are self help books out there about entrepreneurship. Other way is getting into stocks and bonds to help make a passive income stream.

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