Topic: Is it wise to hold Bitcoin for a long time or sell to meet a need of life? - page 2. (Read 543 times)

There is no point in holding Bitcoin for a long time. Because all you do is to let others make a profit from your money.  I think to buy when price is low and sell when price is high.   And then do this again next time.  If you don't then it will be other people getting rich from your money. 

I believe long time holding can be done by those who invested with their money and have already established their financial status and it is really wise to hold it that long if it will really increase in price in the future.  It is really a good thing if we invest with our free money that we can afford to not touch it for a very long time until it meets our expected price.  But as we can see, the majority of traders cannot do this thing because of certain factor like needing to cash out for the daily needs and being impatient and does not have a strong foundation of belief about the coins he is holding.  


Everybody wants profit and earn but the problem is that their financial capability cannot support the long term holding of their coins thus forcing them to sell their coins at a lost or when they run out of budget.

I think whether to hold bitcoin for a long time or to sell it to meet someone's need depends on their situations. If someone wants to earn more, they should hold their BTCs in long term investment, with this, they can be assured that they do have money for their future. But if someone needs money for some reason, they can sell their BTCs to the price they think is enough for them to earn more. Whether long term or short term, as long as you can earn profit and that profit satisfies you. I think any choice is wise and good.

if you need money it is good to sell bitcoin and use money.

What good to have money if it cannot save us from bad unpleasant situations? In order to have a future, we need to make sure that we have a present. As painful as it sounds to sell out bitcoin when its future value is known to meet the need of time, but it is what is supposed to be done. Bitcoin can be earned again in the future. Also I advise to not spend it on needs which are not basic ones rather social in actual.

I think saving or as an investment is far different from spending for your family.

We save and invest to have something for our families and when it comes to family needs, we should not hesitate to spend. It's not just an obligation but its an instinct to all.

I think saving is wise because volatility makes possibilities. But I won't risk my family's needs and let them starve.

Since bitcoin has potential of reaching huge prices, many investors tend to hold it without an exact time frame. But if they want to fulfill their needs with bitcoin now reaching such a high price, then they could sell only a part of their holdings and continue to hold the rest of bitcoins.

The way i go around investment is that,the amount of money i invested initially in bitcoin was around a couple of thousand dollars and when the price started rising i sold the coins so that i got my capital investment,then if i feel that there is a correction ,i would sell off some coins and would scout for good projects to invest,some of my investments were good,but some were a bubble as i held my coins too long before cutting my losses,over all it was a good learning experience,sure there is a dilemma amongst traders on when to sell,because the more the profit the better.

When any one have the urgent need for life, so this person will have to sell anything to pay for this urgent need, even if this is a bitcoin.

It depends on what you truly needs. If your investment not need in life then you don't have to sell your bitcoins.
If you want to grow your bitcoin then you must have the patience to hold it for long time to see what profits you earn after.
We cannot rely on bitcoins future, so better just dont invest all your assets.

I think that we have to make the best decision if we want to hold our bitcoin if the urgent need for life does not let us sell our coins all, keep some of your coins as the future because I'm sure if the day is down For the next few days, bitcoin will go up again

For me it depends on the situation, if it really is needed and no other funding source, maybe I can draw some of it to solve it for the need, and at least I still hold some and have something with waiting for profit in the future ...

I believe that you can not invest all your money in bitcoin, even if you really dream about a wonderful future. There must be a health risk and do not gamble. If so, it's better to wait until yours is available, and not be greedy, and just sell bitcoins with peace of mind.

I agree that is wiser to keep it. Hold it like a long term investment. For sure you will be satisfied with the result. Keep bitcoin

Holding Bitcoin for a long term and waiting for its value to change that would result to more profit, is one of the strategy of most users of Bitcoin. Considering that the growth of popularity of Bitcoin is continuously developing, holding the coin would bring more benefits yet, it is still dependent upon different factors like the flow of demand and supply, season and availability. But, selling your Bitcoin to meet a need of life is never a bad thing because it is the essence of having a source of income and savings isn't it?

I prefer holding it. Long term is the key to succes in this case. If you can give up to the need of life you are taking about then you should hold your coins

A long time ago, if people held Bitcoin then they should have been prepared to keep it for a long time...

I have already been in a situation like that and I chose to sell a part of the held amount. If you ask me now if it was a good deal from financial point of view I would say no, because I could have made much more profit just by holding the amount I sold, but on that past moment it was wise to sell the BTCs to diversify my investments and to decrease the risk of putting all my eggs on the same basket.

Also, with the profit I made from Bitcoins sale, I could introduce myself in a new activity, opening my horizons.

look man, there is nothing more important in this world than happiness and well being. you have to make sure that no matter how great the potential profits there is on the crypro world, you will never forget that wealth is nothing if you are not having a happy life. i use to think that holding coins for the longest than others is the way to go. but obviously, i was wrong. the thing i can advice you to do, is to never ever forget to reward yourself. never deprive yourself of what you need just because you want to be greedy. of course this should be done with full moderation. but i think you get my point. just try it op. when you reach a point where you already have profits, take some to reward yourself then leave some for holdings, savings, investing, etc.  while working hard to gain more. doing this will not only make you experience the fruit of your labor but would also make you remember why you are doing this in the first place. and that is to have a better life. another great thing is this then will give you a better push to work even harder or have better motivation. then not long after, you will not have to worry about the prices of cryptos too much because you already know to yourself that you have already enjoyed and have had a lot of benefits when cryptos where still big.

i hope this reaches you and others out there who have forgotten about this simple but very important thing.
good luck with your journey man

It is indeed wise to hold Bitcoin for a long time and it's also okay to sell in order to meet up with needs of life.
But let me give a little advice to you. I many times leave my money to grow even if i have needs. what i do is; i borrow money from trusted friends/parents then when i think my bitcoin or altcoin has grow to a suspicious height i'll sell and then pay up. Another advice is, don't borrow so much and if you think selling is better than borrowing then sell.