Topic: It is ok to sell your Bitcoin. - page 6. (Read 3450 times)
I think people are just afraid to sell their Bitcoin. The idea that you should HODL Bitcoin is very much being promoted. If you sell it, then you are not a true Bitcoiner and you are an outcast in crypto space. That's bad.
That's a great strategy! Holding can definitely be a good approach for those who aren't confident in their trading skills or who prefer a more passive investment style. It's understandable that you took a break from the market during the bear season, but it's great that you've returned and have a better understanding of how things work now. By staying in the market, you'll have the opportunity to potentially see your investments grow over time. Just make sure to keep monitoring the market and make informed decisions, and you'll be on your way to potentially reaching your investment goals.
That's a great strategy! Holding can definitely be a good approach for those who aren't confident in their trading skills or who prefer a more passive investment style. It's understandable that you took a break from the market during the bear season, but it's great that you've returned and have a better understanding of how things work now. By staying in the market, you'll have the opportunity to potentially see your investments grow over time. Just make sure to keep monitoring the market and make informed decisions, and you'll be on your way to potentially reaching your investment goals.
~snip~ What is your major reason for HODLing and how do your survive the bear market?
HODLing is a popular strategy among cryptocurrency investors, in which they "hang on with all their heart" and refrain from selling their assets, even during a bear market. Reasons for HODLing can vary, but are often driven by a belief in the potential and long-term value of a particular cryptocurrency.
However, HODLing can be a high-risk strategy, as the cryptocurrency market can be highly volatile and subject to significant price swings. To survive a bear market while HODLing, some investors may choose to diversify their portfolio by holding a variety of cryptocurrencies, or they may adjust their investment strategy to reduce their overall market risk exposure.
It is important to remember that cryptocurrency is a high-risk investment, and it is important to do research and understand the risks involved before making an investment decision. In addition, it is always advisable to consult a financial consultant before making any investment decisions.
~ What is your major reason for HODLing and how do your survive the bear market?
The reason I hold is because I want to get the biggest profit possible, and I am not good at trading, I often lose in trades, so I decided holding would be more suitable for me. I left the market when the bear season came and came back later, I could say I missed the opportunity in the past. Now I know how the market works, so I have no reason to leave the market anymore. I will stay with the market till the end.
Let's take another example, if I'm buying bitcoin now, and I've been doing this throughout the bear market, then it's understandable that I don't want to spend bitcoin now, when I understand that its price is too low now, if I expect its price to rise during the next 1-3 years in a few times, maybe even 5 times, then I will spend my bitcoins then with a much greater desire than now.
Every movement has a purpose and every work has positive or negative results, here we take the positive part, one of which is buying Bitcoin holding and waiting for changes in price values and waiting for the right time to release them, every investor has a direction of achievement of course in terms of profit, as you said they will do the job of buying and releasing it when the price is higher than the time of purchase, that's the advantage in investing especially Bitcoin, even though it takes a long time, and in between times I'm sure they will make a purchase.
~ What is your major reason for HODLing and how do your survive the bear market?
The reason I hold is because I want to get the biggest profit possible, and I am not good at trading, I often lose in trades, so I decided holding would be more suitable for me. I left the market when the bear season came and came back later, I could say I missed the opportunity in the past. Now I know how the market works, so I have no reason to leave the market anymore. I will stay with the market till the end.
~ Do people hodl just because others are HODLing?
No, although some who just depend solely on influencers and hype hodl because others are hodling but the ideal thing is to hold based on your analysis, as in the OP where it is pointed that you hodl to sell when the price satisfactory to the holder.Quote
~ Why do people hodl rather than sell and buy again when low
It depends on the buyer. Some can just hodl because they feel price hasn't gone high enough, Others hodl because they get signals to hodl and as you rightly said those who don't understand the dos and don't in DYOR might just hodl because others are holding.Quote
~ What is your major reason for HODLing and how do your survive the bear market?
Bitcoin only started recovering from the long dip it experienced from late 2021 till late 2022 and from my own research and analysis Bitcoin has the potential to climbing to $40,000 that why i am still holding. 
It's all about convenience and whether or not you have any income in bitcoins. No one is going to buy bitcoins just to spend it, and on the other side, it doesn't make much sense to convert btc to fiat to buy something, if you could buy that something directly with btc.
i.e. If you wanted to buy a pair of new pants from your sig campaign earnings, you would just use btc if pants-merchant accepted it, without exchanging it to fiat at all.
But as long as only a tiny percent of people earn in btc, we won't see any mass adoption. The closest we get is bitcoin powered debit cards.
So far, it is not so easy, even in those countries where bitcoin is legalized, even take El Salvador as an example, what percentage of the population of this country receives a salary, or receives income if it is a business, in bitcoins? I think that these are too small values to talk about some kind of mass adoption.i.e. If you wanted to buy a pair of new pants from your sig campaign earnings, you would just use btc if pants-merchant accepted it, without exchanging it to fiat at all.
But as long as only a tiny percent of people earn in btc, we won't see any mass adoption. The closest we get is bitcoin powered debit cards.
Let's take another example, if I'm buying bitcoin now, and I've been doing this throughout the bear market, then it's understandable that I don't want to spend bitcoin now, when I understand that its price is too low now, if I expect its price to rise during the next 1-3 years in a few times, maybe even 5 times, then I will spend my bitcoins then with a much greater desire than now.
It's just an unwarranted excuse, if I lived in a country where bitcoin is accepted as a means of payment, I wouldn't be willing to spend my bitcoins either. Simply because I believe the value of bitcoin will increase a lot in the future, I don't want to waste my bitcoins. I am trying to save to accumulate bitcoins every day for a better future, so it would be a waste to use bitcoins for daily expenses while I have enough fiat for them. I don't want to hold fiat and spend bitcoin, that sounds paradoxical.
Yeap, all fiat currencies have inflationary nature but bitcoin has deflationary one. So the choice is obvious. Even when volatility of bitcoin will go down it will be more valuable at each tomorrow than at each yesterday. So if to hodl then bitcoin and not fiat!
It's all about convenience and whether or not you have any income in bitcoins. No one is going to buy bitcoins just to spend it, and on the other side, it doesn't make much sense to convert btc to fiat to buy something, if you could buy that something directly with btc.
i.e. If you wanted to buy a pair of new pants from your sig campaign earnings, you would just use btc if pants-merchant accepted it, without exchanging it to fiat at all.
But as long as only a tiny percent of people earn in btc, we won't see any mass adoption. The closest we get is bitcoin powered debit cards.
i.e. If you wanted to buy a pair of new pants from your sig campaign earnings, you would just use btc if pants-merchant accepted it, without exchanging it to fiat at all.
But as long as only a tiny percent of people earn in btc, we won't see any mass adoption. The closest we get is bitcoin powered debit cards.
Okay, imagine you are travelling and bought some bitcoins for a trip, but you also have some Mongolian tugriks. What would you exchange first? If I have a choice I prefer to hodl bitcoins.
It's just an unwarranted excuse, if I lived in a country where bitcoin is accepted as a means of payment, I wouldn't be willing to spend my bitcoins either. Simply because I believe the value of bitcoin will increase a lot in the future, I don't want to waste my bitcoins. I am trying to save to accumulate bitcoins every day for a better future, so it would be a waste to use bitcoins for daily expenses while I have enough fiat for them. I don't want to hold fiat and spend bitcoin, that sounds paradoxical.
I will not spent and use Bitcoin for all payment transaction when my country have legalize with bitcoin transaction, better hold and save my Bitcoin in exchange account or hardware wallet and become long term investment than using for digital payment currency. I don't want convert my Bitcoin fund to fiat or withdrawing to be cash money trough still having another passive income and Bitcoin will be my priority as long term holding or investment assets.I change with saving mindset have hold fiat in the bank with save Bitcoin for my children assets at the future, I believe with Bitcoin will help anything and price growing up more profitable investment than only holding fiat in the bank.
If you want to spend some Mongolian tugriks in Chile does it stop you that there are no stores accepting tugriks? I guess you'll try to find a solution (even trough exchanging) and not to look for an excuse. So usually people hodl bitcoin not because of a lack of spots where to pay in it directly, they have some other reasons. As for me I prefer to spend any fiat currencies first, that's why.
It's all about convenience and whether or not you have any income in bitcoins. No one is going to buy bitcoins just to spend it, and on the other side, it doesn't make much sense to convert btc to fiat to buy something, if you could buy that something directly with btc.
i.e. If you wanted to buy a pair of new pants from your sig campaign earnings, you would just use btc if pants-merchant accepted it, without exchanging it to fiat at all.
But as long as only a tiny percent of people earn in btc, we won't see any mass adoption. The closest we get is bitcoin powered debit cards.
It's by choice anyway, as long as the Bitcoin is yours and you believe if you are willing to sell then it's fine,
We are different people with different perspective so is our reasons for investing, some people actually invest with an aim of selling, why others invest with an aim of trading,
Anyone who sells his/her Bitcoin sincerely have a reason for that, they might have been a mess which might warrant them to sell, or which ever ways,
But who ever sales his/her Bitcoin should know that there might be profits or loses at the later end, so which ever comes up, it should accepted with great fade...
We are different people with different perspective so is our reasons for investing, some people actually invest with an aim of selling, why others invest with an aim of trading,
Anyone who sells his/her Bitcoin sincerely have a reason for that, they might have been a mess which might warrant them to sell, or which ever ways,
But who ever sales his/her Bitcoin should know that there might be profits or loses at the later end, so which ever comes up, it should accepted with great fade...
because there are not many service and goods providers that accept Bitcoin payments. now more people have Bitcoin as a long term investment asset. not as currency for a payment transaction.
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If you want to spend some Mongolian tugriks in Chile does it stop you that there are no stores accepting tugriks? I guess you'll try to find a solution (even trough exchanging) and not to look for an excuse. So usually people hodl bitcoin not because of a lack of spots where to pay in it directly, they have some other reasons. As for me I prefer to spend any fiat currencies first, that's why.
It's just an unwarranted excuse, if I lived in a country where bitcoin is accepted as a means of payment, I wouldn't be willing to spend my bitcoins either. Simply because I believe the value of bitcoin will increase a lot in the future, I don't want to waste my bitcoins. I am trying to save to accumulate bitcoins every day for a better future, so it would be a waste to use bitcoins for daily expenses while I have enough fiat for them. I don't want to hold fiat and spend bitcoin, that sounds paradoxical.
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.
I've been also in the crypto space for years and 3 years in trading.For me, this is very applicable for leverage traders. A small percentage increase of price is huge profit for us but huge loss if it will decrease even a small percent. So when the price in our Take Profit area, my positionsI'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.
are automatically closed even if it has only a small percent.
So if I only use spot trading (no liquidation), I will not immediately close my positions if the percent is below 10% so that you can cover the fee and still gain. It will also depends on your margin, how much did you put in that trade or did you buy in that cryptocurrency because there are some people are use to all in. That's why for me, I can't judge them why they still holding their positions.
However, I agree with you that as long as you feel contented then you should close the position because PROFIT is PROFIT.
Over the years, bitcoin have made so many people to smile and have also made so many frown faces. Selling Bitcoin presently is obviously one of the available alternative to make profits from regarding having good entries on the chart. Bitcoin is one of the coin with the most fluctuates volatility in the space. There are ways we triggered profits from bitcoin, it's one of the simple strategy to apply during the dump and bull season. When it's dipping, a very good entry discovery to to buy and when it start the bull run up candles, a very good end to sell it for profits.
you are right, there is always someone who can smile but not a few actually frown, because it all just depends on how to place the bitcoin he bought, whether it can provide benefits or not.Selling is not an alternative that might be a solution at a time like this, because buying more expensive will actually result in losses, and it's wiser to hold it in and wait for an increase to occur.
I agree that a simple application can be done where when it goes down it keeps buying and holding it and when it goes up it just releases. but there are those who like to buy in the short term even though it is full of risks, for those who are used to analyzing properly they will like that but for those who don't want to take risks of course the long term is what can be done. it is clear that everything is returned to the individuals, who really want to implement it, because those who own the bitcoin are entitled to what will be done.
because there are not many service and goods providers that accept Bitcoin payments. now more people have Bitcoin as a long term investment asset. not as currency for a payment transaction.
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If you want to spend some Mongolian tugriks in Chile does it stop you that there are no stores accepting tugriks? I guess you'll try to find a solution (even trough exchanging) and not to look for an excuse. So usually people hodl bitcoin not because of a lack of spots where to pay in it directly, they have some other reasons. As for me I prefer to spend any fiat currencies first, that's why.
Yes of course, sometimes people decide to hold because of influencers or stories that say holding longer will be more profitable.
I personally Hold and DCA so it's a bit difficult to manage if I'm both selling and buying, I'm more focused on accumulating and taking advantage of the dips to buy more bitcoins, trading as you mentioned it might be good but I don't have time to watch the market to see the ups and downs that maybe the volatility runs faster in days or hours.
As I said, the reason why I hold bitcoin is because I don't have much time to pay attention to market price movements, unless I have prepared DCA funds, then I pay attention to market movements. And the bear market seems to have become a friend of a Holder and instead is an opportunity for more accumulation.
The cryptocurrency market always provides good opportunities if you are a patient trader/holder and don't act too hastily. In this situation (and possibly in this bear market), the only thing that confuses me is that there was no desperation, many people bought in the bear market and waited for the market to start growing. If I'm not mistaken, this is the first cycle that went so smoothly, is that really all we will see only growth from now on, it's bullrun?
So my question is:
~ 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?
Yes of course, sometimes people decide to hold because of influencers or stories that say holding longer will be more profitable.~ 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?
I personally Hold and DCA so it's a bit difficult to manage if I'm both selling and buying, I'm more focused on accumulating and taking advantage of the dips to buy more bitcoins, trading as you mentioned it might be good but I don't have time to watch the market to see the ups and downs that maybe the volatility runs faster in days or hours.
As I said, the reason why I hold bitcoin is because I don't have much time to pay attention to market price movements, unless I have prepared DCA funds, then I pay attention to market movements. And the bear market seems to have become a friend of a Holder and instead is an opportunity for more accumulation.
It doesn't really matter as long as you feel that the current profit is sufficient, then why sell it for what are you continuing to hold back if indeed you have got your planned target.
I think everyone will be like that too but when you look at it now the conditions might be a little different because selling at this time even though you are already making a profit would still be very unfortunate.
but if you are that someone who do loves challenge and loves to have that chance on getting profits in short term then you would really be that mindful on taking up yourself a position on
a market situation or condition.Its okay to sell but what matter the most if that you are on the profitable side which everyone is really trying out to achieve.
I agree with this because sometimes we can't generalize that everyone has been in bitcoin for a long time.
Even though it would be better if it was for the long term but of course we also always have profit targets to be achieved of course that makes things like that happen so there is no need to force it if you are not strong and already have an advantage then if you want to leave then leave because there are no restrictions for that matter.
I think everyone will be like that too but when you look at it now the conditions might be a little different because selling at this time even though you are already making a profit would still be very unfortunate.
Over the years, bitcoin have made so many people to smile and have also made so many frown faces. Selling Bitcoin presently is obviously one of the available alternative to make profits from regarding having good entries on the chart. Bitcoin is one of the coin with the most fluctuates volatility in the space. There are ways we triggered profits from bitcoin, it's one of the simple strategy to apply during the dump and bull season. When it's dipping, a very good entry discovery to to buy and when it start the bull run up candles, a very good end to sell it for profits.
We know that not all people would be buying just for holding for long term on which there are ones who do really love to deal with short term profits and this is why they do really take advantage with the movement or volatility of this market which this had been a common approach for someone when we do speak about on their Bitcoin holdings.If you cant bare up with the risk then you would just be simply sitting and waitbut if you are that someone who do loves challenge and loves to have that chance on getting profits in short term then you would really be that mindful on taking up yourself a position on
a market situation or condition.Its okay to sell but what matter the most if that you are on the profitable side which everyone is really trying out to achieve.
Even though it would be better if it was for the long term but of course we also always have profit targets to be achieved of course that makes things like that happen so there is no need to force it if you are not strong and already have an advantage then if you want to leave then leave because there are no restrictions for that matter.
But with bitcoin's volatility and value still likely to go higher in the future, even if bitcoin is widely accepted or seen as a means of payment, I still doubt that people will start using it for payment. Businesses have the right to use bitcoin as a payment method but are people willing to spend their bitcoin knowing that its value will increase a lot in the future?
Precisely. There's an old monetary principle called Gresham's Law that says that "bad money drives out good". So if you hold both good money (Bitcoin) and bad money (fiat), you're much more likely to spend the bad money and keep the good one.
The only way people will actually use bitcoin as an everyday currency is when they have regular earnings in bitcoin, either as their primary or additional source of income.
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