It is ok to sell your Bitcoin. - page 4.

Henrobakkara

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Quote from: summonerrk on February 08, 2023, 12:47:13 PM

Quote from: Obari on January 16, 2023, 03:49:12 PM

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

When the cryptocurrency falls, newcomers panic. They don't realize it's A SALE. And experienced people buy it without succumbing to emotions. Absolutely logical action, since it follows the golden rule in the world of trading - buy when the coin is cheap, and sell for expensive at the top of the price. In the future, the price of bitcoin may fall even lower, so now you should not buy with ALL the money. It is always necessary to leave financial room for maneuver. In our case - additional purchases. Keeping bitcoin without sales and purchases is not right. I think you should always balance between BTC and USDT.

Right, so I really don't get the logic of HODL forever without taking advantage of the market opportunities as in the Bull and Bear markets. I still believe in the idea of investment which is making a profit hence it is practically OK for you to sell your Bitcoin so long as you are doing it the right way of buying lower and selling higher, taking profits and doing it again around the market circle.

jokers10

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Quote from: Alisha-k on February 10, 2023, 04:28:10 PM

Peer pressure 😂.
Funny enough, I know people who hodl their coins simply because others are holding as well, the probably don't want to look like the odd 1 in the midst of their peers
...

Yeap, sometimes happens so. And that's one of the worst things both for traders and for investors as if to do what all others do you maximize your risks of losing: a crowd rarely behaves reasonably. And especially in crypto where as we know manipulators try always to go against majority expectations. But well, even if to keep in mind all that, sometimes we all anyway give in to "peer pressure". Grin

nullama

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Quote from: Odusko on February 10, 2023, 04:39:09 PM

First, we need to separate Bitcoin holders into two categories which are, those who invest for a short-term speculative purpose and those who hold Bitcoin for long-term goals.
Both may have a similar motive but their differences in mode and model, and what ops explain is just one segment and his analysis focused only on buy and selling of bitcoin, and even though he did a good job in analyzing that, it makes more sense to add the other segment and to answers ops questions pf if anyone holds for holding sake the answer is yes.
We have lots of people who pick their motivation from others and as long as those they get motivation from keep holding, they find their strength to also hold.
But for a short-term base, it is better to buy low and sell high that is the basic mechanism that does not require special skills to practice.

Although some people might end up making some money by "buying low and selling high", you need to consider that first of all, most traders end up losing money. Also, you need to consider capital gains tax if you actually end up earning money, and of course the exchange fees.

Also, you have to include all the time and attention you're using trying to predict the prices of Bitcoin in the short term, which is actually not possible.

I personally find that simply saving your money in Bitcoin gives you the best return of investment. You can also live your life, and spend attention and time doing what's valuable to you, instead of having to track the price of Bitcoin all the time.

Odusko

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First, we need to separate Bitcoin holders into two categories which are, those who invest for a short-term speculative purpose and those who hold Bitcoin for long-term goals.
Both may have a similar motive but their differences in mode and model, and what ops explain is just one segment and his analysis focused only on buy and selling of bitcoin, and even though he did a good job in analyzing that, it makes more sense to add the other segment and to answers ops questions pf if anyone holds for holding sake the answer is yes.
We have lots of people who pick their motivation from others and as long as those they get motivation from keep holding, they find their strength to also hold.
But for a short-term base, it is better to buy low and sell high that is the basic mechanism that does not require special skills to practice.

Alisha-k

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Peer pressure 😂.
Funny enough, I know people who hodl their coins simply because others are holding as well, the probably don't want to look like the odd 1 in the midst of their peers

The 2nd question is majorly because the market structure is majority of the times not predictable, while waiting for the prices of coins to keep going upward, the may not know when the bear would occur.

And lastly, I hodl to sell at a fair and favourable market price, not necessary the highest price though, and then when there is a bear, I buy.

CryptoBuds

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Quote from: $crypto$ on February 09, 2023, 12:33:25 PM

Quote from: nurilham on February 08, 2023, 03:49:46 PM

Quote from: CryptoBuds on February 08, 2023, 02:44:01 AM

Those who are holding bitcoins for a long time, saying that they invest and hold bitcoins for the sake of technology are the ones who are trying to lie. I'm pretty sure the majority of people hold bitcoins for the money and not for the second reason. If bitcoin were not profitable but only used as a payment method, I'm sure bitcoin wouldn't be as popular as it is today.

Indeed. The main reason why people hold Bitcoin should be its profits. If Bitcoin isn't a profitable asset, surely people won't hold it because people have no advantage for its future. Specifically, people are trying to hold Bitcoin for the long term, it is because Bitcoin potentially multiplies its price significantly in the future. So, people seem to not hold Bitcoin for the long term if Bitcoin is only used as a digital currency without the potential profits.

Because looking at the history of how bitcoin has increased dramatically, imagine bitcoin from starting at $1 to reaching $69k as ATH before, how can people not be tempted by this, their thinking of holding bitcoin is clear they want even bigger profits in the future, let alone waiting after their halving, of course always calling it will reach new ATH again.
Not only in technology or usability but in terms of return many people are going there, my own example is how to hold bitcoin long term so it's clear that it is for the next bull run.

That's right, I remember being first introduced to bitcoin and being fascinated by its volatility, I had little interest in the technology or other utilities. Now that I know more about bitcoin, I like its decentralization, but still I don't want to lie that profit is still what I care about most.
I think if my friend just introduced bitcoin and just talked about the technology and its features without mentioning the volatility and profit it brings, I definitely wouldn't be in the market at that time.

$crypto$

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Quote from: nurilham on February 08, 2023, 03:49:46 PM

Quote from: CryptoBuds on February 08, 2023, 02:44:01 AM

Those who are holding bitcoins for a long time, saying that they invest and hold bitcoins for the sake of technology are the ones who are trying to lie. I'm pretty sure the majority of people hold bitcoins for the money and not for the second reason. If bitcoin were not profitable but only used as a payment method, I'm sure bitcoin wouldn't be as popular as it is today.

Indeed. The main reason why people hold Bitcoin should be its profits. If Bitcoin isn't a profitable asset, surely people won't hold it because people have no advantage for its future. Specifically, people are trying to hold Bitcoin for the long term, it is because Bitcoin potentially multiplies its price significantly in the future. So, people seem to not hold Bitcoin for the long term if Bitcoin is only used as a digital currency without the potential profits.

Because looking at the history of how bitcoin has increased dramatically, imagine bitcoin from starting at $1 to reaching $69k as ATH before, how can people not be tempted by this, their thinking of holding bitcoin is clear they want even bigger profits in the future, let alone waiting after their halving, of course always calling it will reach new ATH again.
Not only in technology or usability but in terms of return many people are going there, my own example is how to hold bitcoin long term so it's clear that it is for the next bull run.

savetheFORUM

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Quote from: summonerrk on February 08, 2023, 12:47:13 PM

When the cryptocurrency falls, newcomers panic. They don't realize it's A SALE. And experienced people buy it without succumbing to emotions. Absolutely logical action, since it follows the golden rule in the world of trading - buy when the coin is cheap, and sell for expensive at the top of the price. In the future, the price of bitcoin may fall even lower, so now you should not buy with ALL the money. It is always necessary to leave financial room for maneuver. In our case - additional purchases. Keeping bitcoin without sales and purchases is not right. I think you should always balance between BTC and USDT.

We shouldn't generalize them because I believe that there are still newcomers who are fully equipped with knowledge before they get their hands on Bitcoin. Meanwhile, those who panic sell when the price is dumping are also the same people who also panic buying after they see that the price of Bitcoin is skyrocketing.

This is wrong because this isn't the rule of investing/trading. In the future, it's expected that the price of Bitcoin will grow bigger because of the growing adoption but there are times where the price will fall down only to follow the cycle and that is also to give people a chance to re-buy right after they sell on the bull period.

nurilham

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Quote from: CryptoBuds on February 08, 2023, 02:44:01 AM

Those who are holding bitcoins for a long time, saying that they invest and hold bitcoins for the sake of technology are the ones who are trying to lie. I'm pretty sure the majority of people hold bitcoins for the money and not for the second reason. If bitcoin were not profitable but only used as a payment method, I'm sure bitcoin wouldn't be as popular as it is today.

Indeed. The main reason why people hold Bitcoin should be its profits. If Bitcoin isn't a profitable asset, surely people won't hold it because people have no advantage for its future. Specifically, people are trying to hold Bitcoin for the long term, it is because Bitcoin potentially multiplies its price significantly in the future. So, people seem to not hold Bitcoin for the long term if Bitcoin is only used as a digital currency without the potential profits.

summonerrk

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Quote from: Obari on January 16, 2023, 03:49:12 PM

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

When the cryptocurrency falls, newcomers panic. They don't realize it's A SALE. And experienced people buy it without succumbing to emotions. Absolutely logical action, since it follows the golden rule in the world of trading - buy when the coin is cheap, and sell for expensive at the top of the price. In the future, the price of bitcoin may fall even lower, so now you should not buy with ALL the money. It is always necessary to leave financial room for maneuver. In our case - additional purchases. Keeping bitcoin without sales and purchases is not right. I think you should always balance between BTC and USDT.

Fara Chan

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Quote from: jokers10 on February 05, 2023, 09:22:28 AM

Quote from: Fara Chan on February 05, 2023, 09:02:39 AM

Logic would be, in theory of course at a very destitute time we need to change the initial plan in order to launch a very urgent need, selling Bitcoin can be done when circumstances do not allow, one example as your statement said. and we can say the basic concept of Bitcoin Investment with Holding, it is estimated that the long term is a good method, but in between times of poverty especially we will think about what is more important for urgent needs, of course selling it even in the short term. and resume asset recovery work when time and conditions improve.

Bitcoin is just money and IMO we should consider it so: if we need money at the moment for anything important and we don't have enough fiat for that then of course we should use crypto assets we have for the needs we have. Or for what do we get it? Holding for just holding is a strange idea. We collect bitcoins for having some assets in the future to buy what we need or wand and that future can be at the moment as well. And even if there is something that we just want and we need to spend bitcoins for that we should not feel disappointment with spending bitcoin, because even buying something pleasing is important: we can always earn more bitcoins in the future, but we can not get the happiness of today any day in the future, it can be achieved today only.

Yes, that's right, in between times of poverty and not holding fiat money, the next step we have to take is to use the cryptocurrency assets that we already have, all aiming at holding assets to buy something you want, either in the future or present, crypto assets. it's not just that to be held, held, and continued to be held, this is indeed not logical that makes sense, it even sounds strange. collecting Bitcoins is one of the main steps that equips the future.

fzkto

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Quote from: kelechi on February 08, 2023, 12:19:12 AM

Quote from: Fuso.hp on February 07, 2023, 11:01:52 PM

It is not always the case that people have benefited from investing in Bitcoin. Many times many people face losses by investing in Bitcoin and other Crypto industries. But you should not always invest for a long period of time because after investing you see that you have got some profit from this investment, if you are satisfied with that profit then you can sell your investment amount at that time. But there are many who will only say that you buy bitcoins and hold them for the long term. When the price of Bitcoin reached $16K dollars, those who invested in Bitcoin can now sell their Bitcoins, hoping to get a good profit.

Honestly, I'm in this situation now. I bought a lot and then dump happened. But I transfered all from exchange to Ownr wallet for long term period. Think it will be part of my retirement plan

If your plans are to hold onto your bitcoins for so long, until retirement, then you have chosen the right investment. In the future, the current bitcoin price will be a dream come true for many, as it was when it was worth $100 or $1000. But I can still recommend you to watch the market cycles to be able to sell in time and then buy again in time. That way you can maximise your capital.

Mauser

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Quote from: Fuso.hp on February 07, 2023, 11:01:52 PM

It is not always the case that people have benefited from investing in Bitcoin. Many times many people face losses by investing in Bitcoin and other Crypto industries. But you should not always invest for a long period of time because after investing you see that you have got some profit from this investment, if you are satisfied with that profit then you can sell your investment amount at that time. But there are many who will only say that you buy bitcoins and hold them for the long term. When the price of Bitcoin reached $16K dollars, those who invested in Bitcoin can now sell their Bitcoins, hoping to get a good profit.

In case you really need the money than selling some Bitcoin and other crypto currencies is a way to raise your funds. Everyone needs to decide himself which assets to sell and which too keep. For me personally I would prefer to sell some of my stocks and bonds first before I ever touch my crypto coins. Back in 2016 I made the big mistake to sell all my coins, which I am regretting ever since. That is why I would only consider selling cryptos right now if I really have to get the money. Just make sure that you really want to get rid of your bitcoins, maybe it would make more sense to only sell a fraction of your crypto portfolio and keep the rest of them. The long term trend of bitcoins is still positive and it's only a matter of time for prices to recover.

CryptoBuds

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Quote from: blockman on February 06, 2023, 04:02:10 AM

Quote from: yudi09 on February 06, 2023, 12:17:03 AM

The reason investors choose to hodl is actually the same because they clearly want to make a profit as the purpose of the investment itself.

Yup and that's true.
We're all ending with the same reason why we hold and that is because we want to see our holdings have a better price and value to appear. There's no other reason why we want to hold. Yes, some may literally say that they're for the tech but we can't remove one fact and that is all about wanting to make more in the long run because we're all aware the longer we hold then the better value and price will be seen soon for bitcoin.

Those who are holding bitcoins for a long time, saying that they invest and hold bitcoins for the sake of technology are the ones who are trying to lie. I'm pretty sure the majority of people hold bitcoins for the money and not for the second reason. If bitcoin were not profitable but only used as a payment method, I'm sure bitcoin wouldn't be as popular as it is today.
Although bitcoin is very volatile but in the long run bitcoin only always increases in price, many people do not like the risk of trading, so choosing to hold bitcoin is a good solution for them.

rby

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Quote from: blockman on February 06, 2023, 04:02:10 AM

Quote from: yudi09 on February 06, 2023, 12:17:03 AM

The reason investors choose to hodl is actually the same because they clearly want to make a profit as the purpose of the investment itself.

Yup and that's true.
We're all ending with the same reason why we hold and that is because we want to see our holdings have a better price and value to appear. There's no other reason why we want to hold. Yes, some may literally say that they're for the tech but we can't remove one fact and that is all about wanting to make more in the long run because we're all aware the longer we hold then the better value and price will be seen soon for bitcoin.

Bitcoin is money therefore it is right to spend your money and also it is right to earn money

What is wrong is having money in the form of Bitcoin and you're running into series of problems and refused to spend the money in the name of saving it for it to increase in value.
That is why it is advised that the money you invest into bitcoin should not be money you need for your immediate problems it should be money that you want to save for a very long time purposes

kelechi

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Quote from: Fuso.hp on February 07, 2023, 11:01:52 PM

It is not always the case that people have benefited from investing in Bitcoin. Many times many people face losses by investing in Bitcoin and other Crypto industries. But you should not always invest for a long period of time because after investing you see that you have got some profit from this investment, if you are satisfied with that profit then you can sell your investment amount at that time. But there are many who will only say that you buy bitcoins and hold them for the long term. When the price of Bitcoin reached $16K dollars, those who invested in Bitcoin can now sell their Bitcoins, hoping to get a good profit.

Honestly, I'm in this situation now. I bought a lot and then dump happened. But I transfered all from exchange to Ownr wallet for long term period. Think it will be part of my retirement plan

jokers10

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Quote from: Fuso.hp on February 07, 2023, 11:01:52 PM

It is not always the case that people have benefited from investing in Bitcoin. Many times many people face losses by investing in Bitcoin and other Crypto industries. But you should not always invest for a long period of time because after investing you see that you have got some profit from this investment, if you are satisfied with that profit then you can sell your investment amount at that time. But there are many who will only say that you buy bitcoins and hold them for the long term. When the price of Bitcoin reached $16K dollars, those who invested in Bitcoin can now sell their Bitcoins, hoping to get a good profit.

1BTC is always 1BTC. Until you exchange it to anything, you didn't lost. Panic caused with rates changes is one of a known foes of an investor: if an asset is reliable then you should better wait until it recovers and not panicky sell it just because of drawdown. You can lose if you stay in fiat as it is inflationary, but if you stay in bitcoin you can just wait staying calm.

Fuso.hp

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It is not always the case that people have benefited from investing in Bitcoin. Many times many people face losses by investing in Bitcoin and other Crypto industries. But you should not always invest for a long period of time because after investing you see that you have got some profit from this investment, if you are satisfied with that profit then you can sell your investment amount at that time. But there are many who will only say that you buy bitcoins and hold them for the long term. When the price of Bitcoin reached $16K dollars, those who invested in Bitcoin can now sell their Bitcoins, hoping to get a good profit.

nullama

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Quote from: Nobility17 on February 07, 2023, 06:13:18 PM

It's just simple logic, scarcity increases value, abundance reduces. By the next halving we all know what's going to happen to the pricing. So then it's now left for people to take the necessary calculated risks associated with either Hodling or Selling.

I don't see the point of buying fiat with Bitcoin.

I mean, if you buy a house, or whatever, then it makes sense. But just simply buying fiat in the hopes that you can go back and buy more Bitcoin later on?, seems very unlikely that that plan will turn on perfect.

Also you have to pay exchange fees, use a lot of your time checking prices, news, etc, tracking the economy, etc, just to try to time the tops and bottoms, and also paying capital gains tax, etc.

Even if you make X amount of money, you'll be having less because of the exchange fees and the taxes. And possibly you might end up not making any money, and still paying those fees and taxes.

Whereas if you just save Bitcoin, you don't have to worry about any of that and can focus on your own life.

Nobility17

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It's just simple logic, scarcity increases value, abundance reduces. By the next halving we all know what's going to happen to the pricing. So then it's now left for people to take the necessary calculated risks associated with either Hodling or Selling.

Topic: It is ok to sell your Bitcoin. - page 4. (Read 3532 times)