Actually I own a big bag of a certain crypto, that I bought at 0.0005 satoshi and it was worth like 8,18$ at that time.
Now its value is less than 8$ but the satoshi price has increased to 0.0007.
I'm in for the long run, so I wouldn't cash out these on FIAT, but I'd rather re-invest those money on another coin.
My question is if it's profitable to sell now when the satoshi price is higher, or I would go in a loss anyway even if the price is higher in btc price just because the FIAT price is down?
Now its value is less than 8$ but the satoshi price has increased to 0.0007.
I'm in for the long run, so I wouldn't cash out these on FIAT, but I'd rather re-invest those money on another coin.
My question is if it's profitable to sell now when the satoshi price is higher, or I would go in a loss anyway even if the price is higher in btc price just because the FIAT price is down?
A million dollar question. Most people in the forum would tell you "sell for bitcoin and hodl". My recipe in this case is the same, sell now unless you have a very clear expectation of the coin going up or unless it has given you proof of being able to go up fast.
I generally agree with what Levieth02ng said, but there's also the greater than usual volatility happening in BTC and the market as a whole right now to worry about. Nobody other than the megawhales seems to know which way the market is going to move these days so hedging into fiat might not be as bad a call as it normally would be. There's also the potential tax implications depending on what your country's rules are. I know that some jurisdictions have different rules for trades involving fiat than pure crypto to crypto trades, so that's something else to think about.
