Topic: End Goal or Keep HODLing? - page 9. (Read 1349 times)

Just like every investments, there’s a time to take profit. The ideology of hodling for long term is so you can make as much profit as possible. And if you were to do a comparison with those who invested short term, you’ve earned 3X and they haven’t. Now you’ve made gains, it’s your choice when to take profit and if you want to keep holding (probably because you see a bigger picture than what exists today).

It's probably because it's none of your business or any of us to know if a person's hodling their bitcoin, it's not really worth talking about what you're hodling anyway, it's not a good conversation starter and it's something that you should be talking about when someone asks you and you consent in talking about hodling, another thing, bitcoin or any cryptocurrency for that matter is a financial tool and it should be private as much as possible because who knows who'll hear about you hodling bitcoin, throughout history, those who extravagantly flaunt their wealth are the type of people to have their money get stolen from them.

When it comes to that question of hodling forever or selling at some point, let me ask you this, are you well off enough that you'd just hodl that bitcoin and give it as a inheritance to your children or grandchildren? Or are you planning on buying something to live a more stable and secure life? If you choose the former, then good for you, I guess you'd be hodling all your life but if you choose the latter then it's probably a good idea for you to set a goal price that you'd be selling everything since you're not hodling forever, you're going to be needing to take that profit no matter what.

If I were to sum up my answer to your question, I'd say that it's a good idea to hodl your bitcoin for the long-term but never marry the bag that you end up not enjoying the profits of your investments.

One of the objectives of holding is to make a profit, but since we do not know the last dollar price of Bitcoin, we are encouraged to invest long-term so that we can make a lot of profit from it. Bitcoin is always making new ATH so if our target is $100k then after our target is met we should sell 50-80% holding and hold the remaining bitcoins again with a new target. and again investing in new targets using DCA methodology. I think it is always possible to get good returns this way

Most user that made such comments are those who just exaggerates their words that really means holding long term until target price reached. Everyone here invest on Bitcoin to have profit and it’s really nonsense to never sell it because if the intention just to help Bitcoin price to grow by buying and never sell then just send the purchased Bitcoin directly to Satoshi wallet address to make sure that it will never be sold.

Deciding holding long term even though the price is already on the current ATH is not really smart move because you can always re-enter during correction to have a much larger quantity of Bitcoin that will bring you more profit in long term.

There is no specific answer to this question. Every individual will have a different mindset and financial goals when it comes to their investments, and the individual himself can decide whether they should sell their assets at a certain price point or keep holding them.

I can't suggest that you keep holding your Bitcoin or sell it because you might have a different goal in your mind than what I have been thinking, similarly, you can't act upon other's suggestions in such matters and it should be based on your personal financial goals and targets.

Buying Bitcoins and holding them for life completely defeats the purpose of the goal you would like to achieve. Everyone here has completely different plans, which is why they decide to invest in bitcoins. I often hear recommendations that are similar to advise, so under no circumstances should people sell their bitcoins. But why? I'm not going to live forever, so whenever I feel like I need to sell, I do. I don’t understand those who want to save on everything now to be richer later. Likewise, I prefer to live here and now.

If you can survive while the investment is on, then it’s better to keep the Bitcoins untouched. Only cashout at that time when you need emergency of funds or really need the funds to spend on some big luxuries. Bitcoins will always keep on increasing I would say. The reason is pretty simple, as Bitcoins are limited in supply, and the demand to accumulate it, is increasing day by day. Hence, It would be ideal to keep the investment on in order to yield the maximum profit possible.

People that don't want to sell their Bitcoin till death are those that have the goal of passing it on to their children or grandchildren. For example if you are a billionaire and you bought like 50 BTC and at same time you still have many source of income, you may not have the need to spend your Bitcoin for years and can even decide to will it to your children. I will keep holding my small Bitcoin and I will also continue to work on my self so that after my academics, I can get a good job and start a good business. If my goal goes as planned, I will hold my Bitcoin for more than a decade before I sell and if by that time, there is not need to sell, I will continue holding.

I agree with you, I also see some people out there and right on this forum saying they will hold bitcoin forever and will never sell it. I don't really understand what they mean, but if they intend to keep bitcoin until they die then that is the stupidest idea. After all, we all see bitcoin as a tool to create more wealth, but how to do that if we just hold it and never sell it? Bitcoin will be useless if it is not used or does not help us, even if its value reaches millions of dollars.

Sometimes there are investors who want to continue adding to their portfolio until they die. and will be continued by his heirs. So it's possible that if you continue to invest in Bitcoin, it will be passed down to your children.
but if you are one of those who invest for yourself, as long as your investment can fulfill all your needs for the rest of your life, that's enough and sell.

I think everyone should have their own time limit for how long they would decide to hold bitcoin for and yeah I you wish you could be busy playing around with your holdings buy selling do early when you haven't reached a long time range, I think it's better to sell after a long period of time than to sell for short term.

You should not keep your bitcoin forever because if you keep it forever then how you will take profit from it? We are doing investment just to enhance our money so if we reaches to our target then it is better to sell bitcoin otherwise you will never be able to take benefit from your investment.

If you still don't want to sell your bitcoin during or after halving then at least sell some of them to take your profit so if unfortunately the price of bitcoin reduces then you will not be worried about your profit and will be able to wait more until next bull season arrives but it is not possible to take benefit if you keep your bitcoin forever.

I think you should rely on your own decisions regarding this matter so you won't end up pointing fingers or blaming yourself or others. I think setting your own goal is the best thing to do here, once you reach your goal or the target price you want you can take your profit and leave the rest for future purposes. Don't be fooled on what others would say because at the end of the day you yourself will still be the only one to face consequences as it is your money and capital you poured into Bitcoin investments.

Let me ask you, what is your goal the first time you invest in Bitcoin? It is to earn a profit with your investment, right? In that case, you don't need to hold your Bitcoin forever, think of a price target and if you think you are satisfied with your earnings, you can sell anytime you want as long as you have a profit.

Don't just invest, learn to make a profit. Remember that you can reinvest anytime if we enter again the bear market, the bull market is the season where we should be enjoying our profit and not just holding our investment. Withdraw a partial of it if you don't want to leave without any investment, at least you can enjoy and feel the success of your investment.

Seems like you missed out to build a strategy I mean we cannot hodl Bitcoin forever and I will tell you what I usually do i have started DCA and now accumulated decent amount of Bitcoin and though I have been holding for long term but I would sell it off at the peak of Bull run else I would Ave my funds in bearish market and wait for few years which would be waste of time. We need to learn on taking profits. You may take profit at peak and then reinvest during bear market but let the DCA continue.

Capital management is first important thing. How many percent of your capital is your favorite to assign for Bitcoin and cryptocurrency, will decide whether you stay in the market, hold your cryptocurrency or will take profit all and exit the market, or just take profit partially.

Assume you want like minimum 20% of your capital in cryptocurrency, if your portfolio is up 100%, it is not bad to take profit most of it to have cash in your capital drops back to 20% or higher.

Your portfolio can be change with time, capital distribution can be changed with time but if you get profit, re-balance your capital is good practice.

Everybody has different goals in life it is because everybody is in a different situation. Some of them are young, some are older... Some have good paying jobs, some are unemployed. Some are married, some are single. Some people want a happy quiet life, some wants all the flash lambos and shiet. Different expectations, different cases. Some people need a x100 coin to be happy, some people just look for a hard currency.

Depending on what you want, your strategy changes too.

Some people for example keep only 5% to 10% in crypto. When its worth goes above 10%, they sell the excessive amount. When it goes below 5%, they add more to keep it at 5%. I used to follow this strategy and it was a good one. It is like managing a fund. It won't make you rich but you'll always have some exposure to crypto.

The goal is to hodl to make profit,  without hodling it is impossible to make good profit in bitcoin. Getting profit in bitcoin doesn't mean you need hodl forever. We all have a target, while hodling when we hit the profit thst is okay one has the right to sell out.  Just keep hodling until you get the profit that you are satisfied with, doesn't necessarily mean you must hodl forever.

If you don't have a business that can bring positive net income to you, you will have to sell your bitcoin to take profit, get cash to use. Never selling is only for people who are rich, have abundant budget and even extra capital for further investment in future like MicroStrategy.

As a retail investor, you will have to take profit but there are many ways to take profit. All at one sell order and exit the market.

You can take profit gradually but make sure always have bitcoin in your portfolio like this strategy from JayJuanGee.

[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

I mean these are just subjective so anyone can do whatever they want to do, There were just some traders that HODL Bitcoin until the day they died, probably because they wanted their sons and daughters to inherit it because probably they believed that in the future Bitcoin is going to be in a much higher market price for sure, and nothing is wrong about that I dont really believe that they just want to hold it for long term and not use it at all but they just doing it so that someone could inherit it, a lot of people have different takes on this, personally I wouldn't really want to Hold Bitcoin for a very long time or until I die because it just didn't make sense to me not using that money that I invested my self, so for me its always a wise way to always take the profit if you could because the market is a cycle so there are always a opportunity to reinvest it and make a profit again, we could probably say that its a chill way to investment if your just doing it long term and just waiting for something to happened.

These long-term holders are people who already have a huge amount of money, I mean for someone who doesnt have a consistent income I wouldn't really recommend it, I mean at some point you gonna need to sell that Bitcoin if you just don't have the financial foundation so I could always recommend sell at your target market price if you can and not just holding it for life. As long as you're selling at a much higher market price and taking your profit you're not doing anything wrong. It's still subjective so if it's your investment you can do anything you want to it.