Sold my first Bitcoin and am happy - page 14.

Swopon

copper member

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Merit: 120

Gamdom

Quote from: tinopener on March 15, 2021, 05:48:27 PM

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

Self satisfaction is needed in each and every sphere of life. After selling your asset's with satisfaction is a big thing which can be considered as relaxation on your mind set. 3 years of holding is unbeatable. I tried from the very beginning of using crypto trading that I will hold some of my funds for a long time but for some reasons I can't do it. Still trying to hold.

tinopener

member

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Merit: 36

Quote from: hatshepsut93 on March 15, 2021, 06:48:25 PM

Taking a profit after such high returns is never really a bad move, especially on a such volatile market.

"HODL" initially meant avoiding daytrading and being a long-term investor, but somehow it started meaning "never ever sell your BTC", which isn't that great - there's actually no guarantees that Bitcoin will reach $1 million or whatever other price people hope for, and HODLing means denying opportunities to sell high and buy back low, which isn't actually that hard to do, considering that Bitcoin tends to crash very hard after the peak of the bubble.

Well said. And yep, I'll be saving half the profit to buy any big dip.

There is still a lot of momentum there to play.

Bitcoin even deserves its own momentum trading strategies

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1814

฿itcoin for all, All for ฿itcoin.

It's the whole point of holding. So that we can ride the wave to a particular target price after a few years and sell of for profits, right? Wink

What matters most is that the selling price was at a point where you felt was your target price and not having to hold for 15 years and not enjoy the benefits of your patience over the years.

I also usually sell off whenever I realize profits that I feel satisfied with. I am not the type waiting for 10,000% growth in value to sell.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Taking a profit after such high returns is never really a bad move, especially on a such volatile market.

"HODL" initially meant avoiding daytrading and being a long-term investor, but somehow it started meaning "never ever sell your BTC", which isn't that great - there's actually no guarantees that Bitcoin will reach $1 million or whatever other price people hope for, and HODLing means denying opportunities to sell high and buy back low, which isn't actually that hard to do, considering that Bitcoin tends to crash very hard after the peak of the bubble.

tinopener

member

Activity: 224

Merit: 36

Quote from: seoincorporation on March 15, 2021, 06:21:39 PM

Now the question is, for how long you will keep holding the other 95%? do you have a nice goal to chase?

No goal. I just use Bitcoin as part of my general portfolio for diversification.

I plan to keep at least 50% long term.

However, I am worried about the electricity use of Bitcoin. If, for example, Bitcoin were to replace the dollar as the world's reserve currency, it would need twice the amount of energy the world currently produces (or something like that).

My OP is essentially advising people to stay diversified with their investments, and don't be afraid of rebalancing.

seoincorporation

legendary

Activity: 3304

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3 years holding... wow, you do it very well mate, if I'm not wrong you buy those bitcoins under $10k, I would say something like $1500 was the cost when you first buy and sell the 5% is a nice amount, for sure you already recover what you invest in and still holding the 95% of your profit. So, congrats you play it really smart.

Now the question is, for how long you will keep holding the other 95%? do you have a nice goal to chase?

tinopener

member

Activity: 224

Merit: 36

Quote from: Twinkledoe on March 15, 2021, 05:54:59 PM

I am happy for you for what you did. Sometimes, it is self satisfaction that you need to address and not what other people are suggesting. After all, it is your money and they don't care whatever you want to do with it. By the way, can you disclose how much in USD you bought your bitcoin before?

I bought around $8k in 2018 on average I think.

If I'm honest, I also have shares that have gone up almost much as Bitcoin, mainly in technology and biotechnology.

I am pretty well diversified anyway.

Twinkledoe

full member

Activity: 1904

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★Bitvest.io★ Play Plinko or Invest!

I am happy for you for what you did. Sometimes, it is self satisfaction that you need to address and not what other people are suggesting. After all, it is your money and they don't care whatever you want to do with it. By the way, can you disclose how much in USD you bought your bitcoin before?

tinopener

member

Activity: 224

Merit: 36

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

Topic: Sold my first Bitcoin and am happy - page 14. (Read 2537 times)