Topic: Reasons why I might consider selling my Bitcoin. - page 7. (Read 832 times)

I have been in this forum for some time now and becoming a bitcoin trader didn't interest me. I have been attracted to the idea of keeping my coins for a long time and selling it when it reaches my target. I have decided not to sell any of my coins until the bull run season no matter the pressure from any corner. But recently, I was just reasoning about my bitcoin holding because where a man's treasure is where his mind will be when a question dropped into my mind; What can make you sell your bitcoin? I thought about it and I came up with these few points.

Health Issues: Health is wealth, which means without health a man is not wealthy. If there is any sickness that needs money for me or any member of the family to seek medical help, I might decide to sell some of my bitcoin holding to cover the bills. It is only the living that can enjoy the benefit of any investment.

Loss of source of income: A loss of a job or business might force me to sell some of my holdings if I exhaust all my savings. I and my family needs to be alive to enjoy our investment, so we need food and other basic needs to survive. it will be painful but it will be better than begging or taking loans.    

Business opportunity: Many people in my country are migrating to developed to seek better employment opportunities. Many of them are cheaply selling their properties and businesses. If I have the opportunity to buy a cheap house or business, I might decide to sell some of my bitcoin because the profit from the business will help me to buy more bitcoin in the future. House rent is expensive in my country and it is really taking a large chunk of my income. If I own a house, my house rent can be used to buy more bitcoin.

Unfavorable government policies: If the government of my country decides to ban the holding or use of bitcoin, I might be forced to dispose of them. I will not want to be hiding from law enforcement agencies or risk being arrested. I don't wish this to happen but if it does, I will have to take that hard and painful decision.

Migration: My earnings only permit me to save a little amount that I use to invest in Bitcoin. If I have an opportunity to secure a higher-paying job in another country ad I have to finance the travel with part of my bitcoin holding, I might sell some. I higher paying job means more investment in bitcoin.

Higher Education or Skills: If there is an opening for promotion in my organization and it requires getting a higher degree or specialized skills, I might consider selling part of my holdings. This is because such a promotion or job bring higher financial reward which can enable me to buy more coins.

 In summary, there are just two broad reasons that will make me sell my coins, first emergencies such as sickness and loss of a source of income, and better opportunities that will give me more financial backup to buy more bitcoin.