Topic: Exit strategy - page 2. (Read 447 times)
It is good to have an exit strategy but in most cases bitcoin holder don't have an exit strategy due to being greedy. Being greedy is in human nature so you should find a way to increase your bitcoin by buying at low price (dip) and sell high (to the moon) and you will earn noore than you have right now.
It is unlikely that everyone decides to sell a the same time frame, but as an investor, you should have a strategy,
Also if the price shoots up, this would increase the FOMO around bitcoin and attract lots of demand and conversely increase the liquidity.
Agree its not possible, as many there is people in the world as many there is purposes for holding BTC. For some its retirement fund, for some store of value, for some get rich quick scheme, for some its dream come true, for some its only technological innovation. Also if the price shoots up, this would increase the FOMO around bitcoin and attract lots of demand and conversely increase the liquidity.
You can go on and on like this. Truth is liquidity and huge price swings can only be caused by panic caused by big event like really critical bug that cannot be fixed in days.
Actually, I buy a little BTC per month from my savings and waiting for skyrocketing but if you think you can make a lot of profits in just a few time it is not possible and also my exit point is to take a little profit and re-buy BTC again from my profit.
I'm fairly new to crypto. Have bought some through coinbase. But looking to transfer to a hard wallet. My question is this. Let's say all of us dreamers and pumpers dreams come true and bitcoin and crypto take off. We all have a number in our head of what we would sell some or most of our crypto if it reached that number. What is your exit strategy? Did most of you buy through coinbase and will just transfer back into there? Would they be able to support millions of people withdrawing hundreds of thousands of dollars? Crypto seems fairly liquid but again if it shoots to the moon, how liquid will it really be?
You can't even get out from the crypto market after reaching desired value for your crypto because human nature is greediness so they will ready for another set of goals and it will keep continue so I am also one of its kind but I will sell a part of my holdings after it reaches the value and holding the remaining with more prices. 
Would they be able to support millions of people withdrawing hundreds of thousands of dollars? Crypto seems fairly liquid but again if it shoots to the moon, how liquid will it really be?
It is unlikely that everyone decides to sell a the same time frame, but as an investor, you should have a strategy, which builds upwards and not just a one off sale. This is also a good way to purchase tokens.
Also if the price shoots up, this would increase the FOMO around bitcoin and attract lots of demand and conversely increase the liquidity.
Rufiefairy, for a new user you think very good, security is most important thing, and to move your coins to hardware wallet is currently the best you can do to protect your investment. In case you hold coins on any exchange, you do not have control over your private keys, and at any time you are exposed to possible loss due to hacking or some other unforeseen situation.
Also your question about how exchanges will handle all transaction in case most of users decide to withdraw is very important, we see that situation was pretty bad at the end of 2017. We can only hope that big crypto exchanges learned something, and that they work to improve their infrastructure. There is also problem with transaction speed&high fees, but now we have SegWit which adapted pretty well, and Lightning Network which is developing very well.
I think you should not bet only on one horse, in this case Coinbase, but also try to find some other cash out solutions. Crypto ATM may be good choice if you have one near you, or you can trade on LocalBitcoins with lots of caution and with trusted members.
Also your question about how exchanges will handle all transaction in case most of users decide to withdraw is very important, we see that situation was pretty bad at the end of 2017. We can only hope that big crypto exchanges learned something, and that they work to improve their infrastructure. There is also problem with transaction speed&high fees, but now we have SegWit which adapted pretty well, and Lightning Network which is developing very well.
I think you should not bet only on one horse, in this case Coinbase, but also try to find some other cash out solutions. Crypto ATM may be good choice if you have one near you, or you can trade on LocalBitcoins with lots of caution and with trusted members.
If you're referring to Coinbase as some exchange that people can trade their bitcoin so, yes, I'm sure a lot of crypto enthusiast practice that basic principle. Luckily though, I used a local exchange wherein we can trade and can easily exchange it to our local fiat so no problem with us, although there is a KYC procedure (if you're not aware of it).
As for exit strategy, I guess if you have made a lot of profits then nothing wrong booking it, as long as you make a decent then why not? Coinbase is one of the best exchanges out there so I won't be worrying about the withdrawals, but there might be limits though.
As for exit strategy, I guess if you have made a lot of profits then nothing wrong booking it, as long as you make a decent then why not? Coinbase is one of the best exchanges out there so I won't be worrying about the withdrawals, but there might be limits though.
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When it comes to exchanging (trading) i do not prefer to trade with coinbase, i use binance so if i was to sell it'll be binance. Apart from altcoin (inwhich i sell all my holdings each time i make 10x) i haven't sold all my bitcoin holding so i don't have a exit strategy for bitcoin instead i sell when ever i need to take profit and rebuy when the market dips.
You should at least take partial profit on the way up. The way up on the last bulkrun wasa good distribution of smart money to dumb money. Dont be the dumb money buying the top, but take some profit off the table.
I'm fairly new to crypto. Have bought some through coinbase. But looking to transfer to a hard wallet. My question is this. Let's say all of us dreamers and pumpers dreams come true and bitcoin and crypto take off. We all have a number in our head of what we would sell some or most of our crypto if it reached that number. What is your exit strategy? Did most of you buy through coinbase and will just transfer back into there? Would they be able to support millions of people withdrawing hundreds of thousands of dollars? Crypto seems fairly liquid but again if it shoots to the moon, how liquid will it really be?
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