Hi Friends,
I hope you all are enjoying the
BTC ride
in Some youtube videos I heard some analysts talk about taking profits in bitcoin without selling bitcoin. some of them even said that they doubled their Bitcoin amount in this bullrun. They don't explain how exactly to do that.
I tried to research and can't find any way to do that in any of the exchanges I use such as kraken, bittrex or coinbase.
The only way I know of, to take profit of bitcoin bull run is to sell some bitcoin which means the bitcoin holding will reduce.
So, I am just wondering is it really possible to take profit without reducing bitcoin holding? Am I missing something here?
Thanks
I agree with what have others said you can't get a profit without selling because that is how the trading world in bitcoin or stock price exchange works.
When it comes to reading a lot of articles, it is really important. So, you can identify the wrong and right information and as others have already posted do not believe anything on what people post (number one is videos).
The articles the one thing that is reliable for me and reading a lot and asking real veterans here in the forum for many have possibly posted fake information because they can make a big profit out of it and the number one is youtube.
You did a good job asking and confirming were droughts about that issue.
I may have the answer to that but just an idea. So found some people who bought bitcoin again without selling? the possible reason that I saw is this person the timing was right for this person when bitcoin value was at their peak of getting high this December.
The percentage the number, (for December 2020)the value was on a lowest peek and later on this January 2021 the highest was 40.0000 USD.
In the middle of that this person might have bought a bitcoin and when bitcoin reaches its highest point, you can really have a great profit out of buying more without selling bitcoin the more you have bitcoin the prices increase more when bitcoin value increase.
This person possibly has already had an idea or this person might have believed in the prediction for January 2020 and made a gamble of buying.