Topic: How do you feel selling your BTC against your plans? - page 3. (Read 1300 times)

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You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

Based on the urgency we should not think of spending. I've encountered similar situations and most of them were medical bills. In such situation we can't take any other decision. We can try other choices available, and mostly things won't work in emergency situation. Somehow we need to handle the situation with what is available with us.

Emergency funds are must with everyone's savings. I saw in a thread where an user got an opportunity to pay his wife's medical bill for pregnancy with bitcoin. He hadn't discussed about the market, but he found the direct paying access a better thing. So, at need we need to feel happy with the fund than the market.

It can't be helped because necessity drives us to take anything that can have a sale value. It's not just Bitcoin that is a valuable item and when it's urgent to have money right away it will definitely be done. What you experienced, must have happened to anyone who has no other financial flow besides holding Bitcoin. I did the same because there really was no other way but to sell some of my Bitcoin holdings. But with the condition that if in the future I have more money then whatever Bitcoin has been taken will be patched back.

True, and for us to avoid this kind of situation, we must not go all in when investing in Bitcoin.  We must do things in balance.  If we have money, we should budget them accordingly, savings, investments, bills, food budgets.  If we plan in investing in Bitcoin we must also set aside some of our money for savings and future emergency use.  This way we will avoid the situation of selling our BTC investment once we need an urgent fund because we are already prepared for it.

Yes, we should have reserves like on having some savings on emergency funds in form of fiat and the rest would be put up on these investments neither on stocks or crypto of wherever you had replaced it.
We know that there's no such thing about unlimited funds on which there are conditions or situations which do really make you that fiat savings would be completely deplete out.If you are really that
planning on holding up your bitcoin no matter what then you would definitely finding up ways where you might take a loan or borrow into someone on times of emergencies for you not to
just spend up the coin that you've been holding.

Yeah, that's a good strategy to plan your purchase so that you'll be prepared for that and if the situation is favorable, you don't have to sell your bitcoin holding by that time if you have managed to save.

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and  too  how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than  to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

There's no point in regretting selling your bitcoin; it was an emergency that you couldn't control, and you wouldn't have sold otherwise. Everyone in that position would do the same. I've been holding for over two years now, and I'm not planning to sell anytime soon, unless something unexpected happens; however, I sold and used a large quantity of bitcoin in the past, without a specific purpose or reason, but simply out of hype and fear of missing out. This is way worse than being put in a situation where you have no other choice. 

Now there is no point in selling when it is the perfect time to replenish your portfolio with bitcoin. For selling, you need to wait for the bullrun to come, perhaps the level of the last ATH will be suitable for this, but now is definitely not the best time for this.

Now we are near the bottom, bitcoin has not gone lower, and this gives us hope that the price will now go further up. But in any case, I am not in a hurry and continue to buy bitcoin for a long-term investment.

An excellent solution to unplanned spending would be to plan a certain purchase for yourself. And then you will patiently wait for the trading strategy to make a profit. Or when the token price rises to the desired one. In such cases, I always thought for myself: if I don't spend the deferred funds today, then later I will buy twice as much.

There's no point in regretting selling your bitcoin; it was an emergency that you couldn't control, and you wouldn't have sold otherwise. Everyone in that position would do the same. I've been holding for over two years now, and I'm not planning to sell anytime soon, unless something unexpected happens; however, I sold and used a large quantity of bitcoin in the past, without a specific purpose or reason, but simply out of hype and fear of missing out. This is way worse than being put in a situation where you have no other choice. 

Yes, there will definitely be some regrets, but don't be depressed or grieve over it, as long as bitcoin helps our lives, it will be too much of a grief.
Moreover, we can also accumulate bitcoin as soon as urgent work is done, although it will take longer to do, we still have a chance.

I think it is perfectly normal to feel some sort of regret with what you do, it is an emergency, and if it is the last thing that you can resort to for it to be done, the you made a perfectly valid decision. In comes to trading and holding, we should always prepare ourselves to be disappointed with our decisions since there are some events that we can control, as well as the volatility of crypto. At the end of the day, I believe you have learned something from that situation, so you will never be a loser since you can use that for your future decisions in terms of holding and planning your finances and holdings.

Now there is no point in selling when it is the perfect time to replenish your portfolio with bitcoin. For selling, you need to wait for the bullrun to come, perhaps the level of the last ATH will be suitable for this, but now is definitely not the best time for this.

Now we are near the bottom, bitcoin has not gone lower, and this gives us hope that the price will now go further up. But in any case, I am not in a hurry and continue to buy bitcoin for a long-term investment.

Exactly, when we know that we've got that much, we want to spend everything on anything and that's so true. We intend to spend it because we know that there's some fund that's just there ready to be spent anytime even if it is bitcoin. But if you're an investor and you've been getting the experiences from the market, you'll not forget that, and instead of spending you just want to keep on saving for the upcoming bull run for which may happen anytime but most likely after the halving.

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and  too  how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than  to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?