Little Bitcoin investment becoming something else - page 5.

mk4

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Quote from: SmartGold01 on April 24, 2023, 06:42:05 PM

I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

This here is proof that no one knows how the markets will move in the short term. If you think bitcoin is actually a good investment, why sell so soon? You're pretty much trading here, not investing.

Also, if you have to sell your bitcoin for your upkeep, then you're probably overinvesting. Always have fiat money ready for your personal spending, and some ready for a rainy day.

BlackBoss_

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Quote from: SmartGold01 on April 24, 2023, 06:42:05 PM

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members".

You can continue that topic and ask community advice. Creating a new topic is not necessary if you can simply edit your past topic title from "How I decided to buy some fractions of BTC after discussion with member" to "Little Bitcoin investment becoming something else".

A new topic title will be enough for you to continue that discussion but with a new updated question.

Hold your bitcoins, buy more if you have savings in fiat currency and don't plan to use all your savings for emergency. It is clearly that you should not use all your savings for bitcoin investment.

bittraffic

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There is no way for anyone to tell you for sure what you can do. The market is very bullish yet we are also weighing whether this dip is just a correction or a continuation of the bear market.

So if you are a short-term holder, you could have sold already even when it's down a bit already. You still profit a little but if this market suddenly shoots to $32K, you might blame the one who adviced you to sell. Grin

bluebit25

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I can see in your heart that you are filled with fear, skepticism and greed for this market specifically bitcoin. Ask yourself if you did what you thought you were doing when you first entered this market, I see many people being easily swayed by this market when they haven't started participating.

Everyone's personal life is different so I empathize with the situation where you are finding it difficult, but keep this fact in mind as it may be one of the mistakes you will see in the future. the beginning and giving up midway.

kotajikikox

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Quote from: SmartGold01 on April 24, 2023, 06:42:05 PM

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?

Why instead of creating new thread is at least edit your previous post to not creating almost similar thread with just continuation of what you previously asked?

but about your main question? for me you Should KEEP HOLDING.

there are lots to come mate.

Quote

Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

what are you? investor or just a quick income seeking?

if you are investors then best to keep Holding mate and that is what you will be facing in the next coming days.

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Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

you must not implement it quickly because this is your money and not ours to lose mate.

GideonGono

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I think the best thing to do right now since you're confuse and already earned some profit, why not play safe?
Take out your capital and leave your profit in crypto? and when you feel that the price is already good for you then invest back the capital that you've secured.
Whenever you invest on something always have a plan so you wouldn't be so confused on it when things got hard.
Make some plan on how long would you hold it, what is the ideal price for you to take profit and if you would take profit would you sell them all off in just one time or would you sell some of your asset whenever it reach the price that you've set.
What is the maximum amount of lose that you are willing to take, what price are you going to cut off when the price starts to drop down.

SamReomo

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You should keep holding your coins for at least a few months. There is a chance of a bull market in coming months if you can hold it till that time then you will most probably gain more profits than what you are getting now. If I was on your place then I should definitely hold my Bitcoin, and wait for the next bull run. Because, the next bull run will definitely give a lot in return for the patience.

You should focus on good ROI, because an investment with less than 20% ROI is not a good decision, and any good investor won't accept that much if the initial capital is not too much. You will have good experience by holding those Satoshi's for few months, and with that you will learn the benefits of long term holding in crypto market and you will not only have good ROI, but in future that knowledge will help you in other investments.

Nwada001

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The best advice is the one you give yourself.
When you purchased your Bitcoin, what was your initial plan for the coin? Did you plan to hold on for long? Or you planned to just pick up a few bucks and leave?
The decision you need to make now is based on the plans you have had from the very start. If you have the plan of hodling for a long time, then I will advise you to keep on hodling until you can make a larger profit.

But if your plan was just for a few dollars of profit, then you can cash out now. But I really don't see $6.32 (base on current USD-NAIRA rate) as a big profit. Unless you need to use the funds for something else, if not, I would rather you continue hoarding.
The market is always this way; we don't expect it to always be stable or to always be bullish. Sometimes we need to experience a bearish market in order to prepare us for the bull run ahead.

BIT-BENDER

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Anyone giving you any suggestions concerning that would be doing so from their point of view which may not go in accordance with your point of view, you are an individual here, you know what you want from your investment only you can be able to call the shot.

From my perspective a gain of 4000 naira is about $8 which is very much low to me and not even up to what I should consider a profit but like I said you are the investor here, and the only advice I have for you is to create your own target what do you want form an investment and what are the losses you can bare then you work with those details.

SmartGold01

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Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

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