Topic: How to prevent selling your bitcoin prematurely, use this strategy - page 3. (Read 575 times)

I like this strat. It's pretty much what I like to do. Put my major investment into bitcoin and the rest on altcoins so I have something in case bitcoin doesn't work out. But you just gotta be careful with these altcoins. Too many scam coins/projects.

I believe that  every person in this community has it's own different strategies and I respect that and in my case, as a newcomer in this field I am just purely into investment and not involved in day trading which I want to do someday. For me, the only strategy is just simply invest into btc for a long term period and hodl until such time btc could spike up where that could be the time for you to decide if you wish to sell your btc or just have to leave it that way.

Investment value will all depends on our faith and belief in crypto currency but in the first place granting that we have money for it because if we force to use money that tend for other purpose then the most possible happen is that we have to sell our coin prematurely because we badly need money.

That's an 85:15 ratio. A sensible idea is always to save some fiat to invest later if the price falls for example, you can't always time a buy point perfectly. Having spare fiat allows you to take advantage of any dips.

Remember I said this is what I used and it works fine for me. Also Crypto is my primary source of income, I'm still dependent (a student) so I'm investing my way to my financial freedom. My country Nigeria don't even have enough job for graduates, if you're suggesting I should get an alternative job. When you say spare I laugh because most people that give that advice don't even follow it.
Investment is more of a money game, the higher you invest the bigger your profit.

He also got my attention at this point too. It is the point where I believe can sustain an investment. Buying directly into altcoin to hodl a bitcoin investment won't work. Altcoins have a way of collapsing while you are still in bed sleeping. For instance, ONT was doing well but has dropped below 50% and above.

I believe in being prudent with my income and bitcoin. I can sell a fraction and buy back in. I don't depend on altcoin.

'HODLers run out of cash,so they eventually have to sell a part of their bitcoins to cover their expenses.'
This is the most stupid theory I've ever heard.99% of the HODLers generate enough cash to cover their daily expenses,while they keep hoarding bitcoins in the long run.
You made 3000 USD from a single airdrop?Congrats.I can't believe that most of the airdrops are legit. 

That us of course assuming that you made or have acquired profits from your alternative investments, which is not always the case, and with changing market situation, you should not have to be in a situation where you depend on you investment before it matures. Always invest spare money.


You can only do this if you take cryptocurrencies as your primary source of income. And have ample time to do the tasks.

It is not the best strategy though since we need to work here to maintain our capitals levels but in regular form of investment there is no need to work like in signature campaigns or aridrops which have no related to your investment.I also don't suggest you to invest in altcoins because those value might turn into very low soon so just keep that $3000 as cash and use them whenever you need in emergency situation.

that doesn't make any sense!
first of all you should never invest the "cash" that you need in bitcoin. if you think you might need that $3000 then don't invest it at all. invest $17k in bitcoin.
not to mention that investing in 6 altcoins is not going to do you any good. it is not diversification. you just bought riskier assets that drop that much harder and have a higher risk. so you didn't help yourself at all. and on top of that it is always easier to sell bitcoin for fiat all around the world than it is to sell altcoins for fiat!

both of these require free time. and nowadays airdrops have turned into  a series of tasks which makes them practically the same as signature campaigns and they need a lot of time to waste!
and this will be some sort of additional income, it still has nothing to do with investment and whether or not you sell bitcoin in my opinion. i believe that if you invest the money you don't need in bitcoin then you will never feel the "urge" to sell it.

the bold part is the important part. as long as it works for you, that is fine.
i don't exactly have a strategy but i only sell if the price has gone up too fast and has set a record. like $20k for instance. and then i end up buying back even more after the dip.

Many individuals get attracted to Bitcoin because of the potential ROI they see in the investment instead of using bitcoin as a day to day currency. Those individuals (investors) do every right until a dip in price of Bitcoin occurs then they panic sell (most times selling at a loss just to prevent more losses) but not all are that smart to play the market, making the most out of it.
Some individuals try the Hodling strategy but get catch off guard once they run out of cash are in need of urgent fiat currency then they cash out making them to miss on any potential ROI their investment would had given them.
Some even try the day to day, weekly or monthly trading but not all succeeds.
            

For any investor that have experiences any of situations mentioned above no worry because you can try the strategy in used below or take advice from other users replies.
 
My investment strategy, : (budget $20,000)
 Note: this strategy can work for any budget ratio 85:15 and was deployed based on the reason crypto is my only source of income.
1: instead of investing all my capital into bitcoin, i invest $17000 in bitcoin, the remaining $3000 goes into 6 different altcoin (I.e $500 in each).you can draft out yours.
In a situation where I'm in need of urgent  cash, that's where the altcoins come into play. They would be sold and that way I won't have to touch my capital investment in Bitcoin. This enables me to HODL for as long as I want.

2. I participate in airdrops. who doesn't like free money? Till date I have participated in over 150 airdrop, one of the best was hydrogen token cashing out about $3000 cool right ?.  The point I'm making here, is I participate in these airdrops to have altcoins I can turn to, if I find myself in need of urgent cash that way I don't get tempted to cash out my Bitcoin investment.

3. Join signature campaign, now this I was not doing until I stated spending more time in forum so decided to earn while I learn too. And so far, that have been going great and I haven't touched my initial investment in Bitcoin.

Now I know this might not be the best strategy you must have heard of, but it works for me and ever since i bought Bitcoin (late 2016) I haven't touched my bitcoin investment) in fact most times I even forget I own Bitcoins. Feel free to drop your strategy below, you might
just help a soul (potential investor) by so doing.