It is ok to sell your Bitcoin. - page 15.

DevilSlayer

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Quote from: Yatsan on January 16, 2023, 05:11:09 PM

Ofcourse it is okay as long as it is yours. Either you regret it or not afterwards; you are selling your asset for a reason. Regardless whether you sold it early or late; as long as there is a reason from doing so, that would be fine. We have different circumstances as investors in the first place. Some people will say "just hold". There will jist be emergencies in our lives which are totally unexpected and those will be the times wherein you have to break your plans to cope or adjust with the situation. Believe me, this happpens a lot in this industry. I had tough times as well wherein same thing pushed me to sell before rhe previous all time high. It did not gave me any regret since selling was necessary on my end.

Conviction is the most important things before selling an asset, tell yourself first why will you sell your bitcoin? It is because part of your plan where you will buy again when the price retest? Or are you afraid that the price may hit the top very soon. If you have a strong reason and conviction on something else then you will not regret what you decide today in the near future. We have freedom to do things that we want so it is okay to sell bitcoins especially if you have a personal reason behind it.

I sold my bitcoins last year because of the sentiment where the price is continuing to decline because of the bearish season but right now, everything is change. That's why I starting to collect a position again, I did not regret selling my bitcoins last year because I have no control on it but now my niche setups show up and that is the reason why I starting to collecting again because I'm confident in this type of market.

Kakmakr

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The main reason for HODLing are profit or simply greed.

People are fighting to beat inflation with all their investments and they think that they found a way with Bitcoin to beat inflation. In a sense, this might be true in the long-term, but people do not have the discipline to HODL until the Bitcoin price reach those levels, where inflation are beaten.

My strategy are based on a 80/20 principle, where you use 20% of all the coins you buy...and you hoard 80% of those same coins. You cannot simply have a situation where everyone hoard 100% of their coins, because retailers that support Bitcoin ...need people with bitcoins to use it to pay for services and goods. (If we do not support them, they will stop accepting Bitcoin as a payment option)

Obari

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Quote from: mendace on January 16, 2023, 05:18:27 PM

Maximalist hodlers are a cancer for the mass adoption of Bitcoin, if we truly believe that one day this widely scarce digital currency will become the only economic exchange in the world then we must inevitably start using it in our daily lives. If you tell me that it's not easy at all, I can guarantee you that using services like bitrefill you can easily buy everything using Bitcoin. So we must not become hungry Bitcoin hodlers, but as in classical finance we must set aside and spend at the same time, while those who hope to see bitcoins in the hundreds of thousands of dollars are wrong.

Thanks mate and you really did get my message fully because many other persons feel it is really wrong to sell when it hits a certain price and that isn't right.
Let me give an example, I have a friend who makes alot of money from the instability of the market and what be does is this, he simply buys low and sell high just as we all know and the major reason for investment is to get a return on it right ?
Now let's say you want a 50% return on your investment irrespective of the capital you have and then you move into Bitcoin with it's high volatility rate and then you're conscious and aware that the volatile nature of Bitcoin is the major reason while we make money on investment,
Now you buy at price A($16k) and suddenly price moves to price B($20k) with this you've already gotten 25%of your investment hoping for another 25% to take your profits and all of a sudden price begins drop probably to $19.5 and rather than sell, some persons will still let this price drop and then begin hoping for another rise making their investment taking longer time rather than sell at price B and wait for another price to buy again.
People have to learn to take profit rather than follow the crowd.

UserU

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Just like any other asset, people have to realize profits someday.

If you don't, somebody will.

Nrcewker

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Quote from: Obari on January 16, 2023, 04:49:12 PM

~ Do people hodl just because others are HODLing?
~ Why so people hold rather than sell and buy again when low
~ What is your major reason for HODLing and how do your survive the bear market?

People HODL in order to make profits only. They don’t care what others are thinking or doing. In this cruel world no one thinks or watches others, they just care about themselves. People HODL, because they know that the coin is way more valuable than the current price.
And regarding the question of bear market, then let me tell you my friend that at start, trading is just like an extra income. Invest in coins that you can afford to lose, or don’t rely on the funds that you are investing. Hope this clears your doubts OP.

Despairo

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Quote from: mendace on January 16, 2023, 05:18:27 PM

Maximalist hodlers are a cancer for the mass adoption of Bitcoin, if we truly believe that one day this widely scarce digital currency will become the only economic exchange in the world then we must inevitably start using it in our daily lives. If you tell me that it's not easy at all, I can guarantee you that using services like bitrefill you can easily buy everything using Bitcoin. So we must not become hungry Bitcoin hodlers, but as in classical finance we must set aside and spend at the same time, while those who hope to see bitcoins in the hundreds of thousands of dollars are wrong.

You need to know people who not hold Bitcoin, government which ban Bitcoin and people who spread FUDs about Bitcoin are many factors to reduce Bitcoin mass adoption! not the maximalist holders!

It's up to everyone want to use their Bitcoin and you can't force anyone need to spend their Bitcoin everyday, don't forget when you actively send your coins, it will increase the chance you can send to wrong address and any other human error.

uneng

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Quote from: Obari on January 16, 2023, 04:49:12 PM

~ Do people hodl just because others are HODLing?

I don't think so. People hold because they see potential in doing this aiming future gains. Of course there is the hype thing, that leads many people doing what others are doing, but it's always aiming profit which will benefit each of them privately.

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ Why so people hold rather than sell and buy again when low

Because they don't know if prices are going to fall more yet. Let's say holders decided to sell their coins on the present moment for 21,000$, imagining this temporary rise is going to send price back to 15,000$ soon, and on the next day Bitcoin skyrocketed to 40,000$ and never got back anymore? That means they lost the opportunity of holding for the next bull run. So better to not risk selling coins.

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ What is your major reason for HODLing and how do your survive the bear market?

The goal is to reach the next bull season. We survive the bear market by being patient and hopeful it's just temporary. That is all.

landheer

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in my opinion, the reason people prefer holding than selling is because they have a planned price target. because according to my experience when we are not strong enough to hold and sell it, it will be difficult to get a price like the price we first bought. and thus will generate
regret for not being able to buy at the same price as before. so I guess that's one of the reasons, people prefer holding than selling it.

dothebeats

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This is where most newbies fail to really take into account. It's okay to sell as long as you need it, or you are planning to sell high and buy low to add to your stash. I've sold my coins a lot of times but I always make it to a point that I can buy those back and keep them for long. But if you're not really trying to actively trade, then buying and holding is the play and it's much easier to do, plus it's less stress too. Whatever you want to do with your coins, it's yours after all, so don't feel bad if you feel the need to let go of your coins for a greater cause.

n0ne

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Whether to sell your bitcoin or not need to be decided by the owner. Bitcoin at the present market situation have bounced and users who wants to make some profit can sell it and wait for the opportunity to buy back when there is minor drops. This is quite risky at the moment as the market could make any unexpected move in no time. People mostly prefer to hold their accumulated bitcoins at these kind of market situations. Even now it looks like the market to accumulate than selling.

darkangel11

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Quote from: Obari on January 16, 2023, 04:49:12 PM

I've always been on the track that investing in Bitcoin simply means buying low and selling high, which I think is one of the keys to success in the crypto Industry

So you're a trader. You want to enter the deal with fiat money and your goal is to have more fiat money in the end.
I approach this in a different way. I haven't even obtained a lot of my bitcoins by buying it with fiat money. I got it by selling different things for bitcoin, participating in signature campaigns, getting altcoins for holding my bitcoin and selling it to get more bitcoin, like I did with BCH, BSV and many other small bitcoin-based altcoins. Ultimately I want to have as much bitcoin as possible and I don't care about holding fiat.

Ojima-ojo

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It depend your motive behind owning Bitcoin, if tou are into bitcoin for it soul aim of being in bitcoin os just for short term investment then what you explain you accurately and taking profits and minimizing loses can be the perfect way to go.

But to others, no matter what the price of bitcoin is it does not matter in their investmentand the are not looking at BTC vs DCA cost so their are at peace and whatever happens in the Bitcoin to dollar value it does not concern them.

KennyR

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Op have a right view on the market rise of bitcoin. This mainly connect with the newbie users who have entered the market in a dilemma. For them it is advisable to enjoy the profit, because they were in a dilemma whether the growth will happen or not. When the growth have taken place, it'll give them the relaxation and the understanding about the market. Missing an opportunity to profit will once again cause them into panic of losing or missing out the opportunity to profit. People with such mind can go for selling, whereas the majority of the hodlers were the people who trust bitcoin and believe in its growth. They never look upon others and hodl. It is the reality of the market to have a bull market after bear market.

Rikafip

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Quote from: Obari on January 16, 2023, 04:49:12 PM

Do people hodl just because others are HODLing?

Some probably do and I do hope more people will follow others in that regard.

Quote from: Obari on January 16, 2023, 04:49:12 PM

Why so people hold rather than sell and buy again when low

Because in order to actually sell high and buy low on the regular basis you have to be a good trader, and majority of people simply aren't. I tried that tactic in the past and while it worked for a couple of times due nothing but luck, in the next few times I tried that I lost big part of the previous profit so I realized that trading is not for me and I sleep much better ever since i switched to hodl mode, not obsessing over price.

Quote from: Obari on January 16, 2023, 04:49:12 PM

What is your major reason for HODLing and how do your survive the bear market?

I suck at trading and I have no time or will to learn it. Regarding how I survive bear market its simple: I don''t have any price tracking apps on phone and I very rarely visit Coingecko/CMC.

franky1

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never "sell all"

decide on a % to sell dependant on need of such funds and how much % the price has gone up by

with enough small events you can establish 2 reserves . of btc and fiat to take each opportunity of a up or down

Cryptomultiplier

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Quote from: Obari on January 16, 2023, 04:49:12 PM

I've been in this crypto space for a while now and there is this mentality instilled in people that seems selling ones coin is bad and one is heading to failure which is very wrong at least from my perspective.
I've always been on the track that investing in Bitcoin simply means buying low and selling high, which I think is one of the keys to success in the crypto Industry. I always tell people that the moment you buy at a certain price and it starts rising possibly to a price that you feel ok and contented with, then you should feel free and confident to sell atleast to get the profit first and always use stop loss just incase the price drops, rather than having a little portion of Bitcoin and letting it get liquidated just because you want to preach and prove HODLing, trying not to feel odd.
So my question is:
~ Do people hodl just because others are HODLing?
~ Why so people hold rather than sell and buy again when low
~ What is your major reason for HODLing and how do your survive the bear market?

Firstly, one must consider the intention behind making such a decision as would any normal person whose money is involved. Money in any form is meant to be spent, but how it is spent is what matters.
If I have immediate or pressing need for my Bitcoin, I don't see why I can't withdraw and sort myself out. If there isn't a need to do any of such thing at the moment other than save/invest, HODLing is a good option.
If no time constraint, one can try out other DCA strategies suppose there is growth in gain of Bitcoin, both regarding saved up coin in wallets.

bitcampaign

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besides I bought it with unused money so it's not a problem to sell it anytime , let's just say I'm investing long term so there's no need to rush to sell it , I believe bitcoin can be worth 1 million dollars , until that time comes I continue to buy it gradually

Zaguru12

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Selling off isn’t bad because it’s actually the sole purpose of having it in the first place. The problem is the manner or period you sell. Some investors sell off immediately when there is a little price rise and some when a dump happens. Selling under panic conditions isn’t good because it sometimes leads to loss.

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ Do people hodl just because others are HODLing?

Some investors actually do hodl because of people’s opinion on holding

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ Why so people hold rather than sell and buy again when low

Many investors believe this is still early days of bitcoin and every body Holds just to have bunch of it when it eventually hits the ground running as legal tender for some countries and at that time it’s scarcity will favour early holders just like those that have it in 2009 and those who are just getting to buy them now. People sell high and buy low to gain some profits and still be able to hold some for the future.

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ What is your major reason for HODLing and how do your survive the bear market?

My reason to hold is just base on what stated above. To survive bear market is easy if you can be patient to hold for long and the secret to holding for long is having a secondary sources of spending. That is when investing in bitcoin you set aside Some funds for emergency and also for daily use. That is why it’s best to use at least 20% of once income. This percentage looks more less easy to lose and at such you don’t panic when the market fluctuates

Ebede

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Quote from: Yatsan on January 16, 2023, 05:11:09 PM

Ofcourse it is okay as long as it is yours. Either you regret it or not afterwards; you are selling your asset for a reason. Regardless whether you sold it early or late; as long as there is a reason from doing so, that would be fine. We have different circumstances as investors in the first place. Some people will say "just hold". There will jist be emergencies in our lives which are totally unexpected and those will be the times wherein you have to break your plans to cope or adjust with the situation. Believe me, this happpens a lot in this industry. I had tough times as well wherein same thing pushed me to sell before rhe previous all time high. It did not gave me any regret since selling was necessary on my end.

Selling off your bit going is good for the problem is that if bitcoin rise during the process or during the time you call for selling of it and it increases I will say that you have to keep your bitcoin until when the time or when will enter bullish market that you make your profit thanks to you can be able to sell some part of your bitcoin not all but if it is like altcoin I will advise you to sell or without any hesitation

serjent05

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Quote from: Obari on January 16, 2023, 04:49:12 PM

So my question is:
~ Do people hodl just because others are HODLing?

People hodl because they believe in the long-term potential of the technology and believe that the price will eventually rise. It is also possible that they wanted to avoid a short-term volatility of the market and possibly don't want to miss out on the potential profit.

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ Why so people hold rather than sell and buy again when low

It is possible that the investor may not have a clear strategy on when to sell or buy. It is also possible that they are emotionally attached to their investment and don't want to missed out on the potential profit.

Quote from: Obari on January 16, 2023, 04:49:12 PM

~ What is your major reason for HODLing and how do your survive the bear market?

The major reason I have why I hold Bitcoin is because I believe that there is a very huge potential on its market. I am hoping that my investment will yield more than 3x of my initial capital. If we have other sources of income and our belief is strong that the Bitcoin market will one day surge, ignoring the FUD and just going on with our life can make us survive the bear market.

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