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Topic: Whats your exit strategy? - page 3. (Read 923 times)

hero member
Activity: 1526
Merit: 596
January 12, 2018, 11:43:40 PM
#25
My initial plan to exit was at 2,000 right before the August fork. However, I soon realised that the fork would only bring the prices up, so I stayed in the game for longer. I sold a few of my Bitcoin's here and there, however I still have the major % still available.

I am current not in need of any extra money, so I am able to keep on hodling to my bitcoins for the time being.

I too would not want to regret selling just yet in case the price suddenly rises up, however I am also keeping the news circulating bitcoin close at hand, in case anything drastic was to happen that would force me to quickly sell my stash.
full member
Activity: 193
Merit: 117
HODL
January 12, 2018, 11:31:21 PM
#24
Selling diminishing amounts of btc for increasing amounts of fiat at roughly each doubling (at a short term high point ideally) of btc/usd exchange rate.
hero member
Activity: 840
Merit: 502
January 12, 2018, 10:37:56 PM
#23
My number is something between 75k or 100k  and my exit strategy is simple I expect bitcoin to be accepted by more people at that point, so if I can buy properties directly with my bitcoin then I will do it, if I cannot then I will need to sell for fiat first and then get real estate and then I will retire and laugh at all of those that called me crazy for investing in bitcoin and other coins, since I will be vindicated and they will need to work for the rest of their lives while I enjoy a vacation that will last forever.
sr. member
Activity: 742
Merit: 253
January 12, 2018, 12:14:31 PM
#22
The price of bitcoin is determined by the marginal price that the market is willing to bid a coin for.

bitcoin prices can not be determined. because bitcoin is determined by large shareholders who can manage the market. a fixed supply that causes bitcoins can not be controlled. I myself have not yet understood the market movement
legendary
Activity: 3542
Merit: 1162
www.Crypto.Games: Multiple coins, multiple games
January 12, 2018, 12:04:04 PM
#21
People may laugh out if I will be unveiling my goals and expectation with my bitcoins. Honestly I have planned to keep some bitcoins till my end of life and will transfer the ownership to my children after my life. I believe into bitcoin's unlimited potential hence we can expect it may to take up to 50% of total world economy still  expecting 25% penetration within a year might sound too greedy to me. But 25% will be definitely possible before 2030.

I suggest my friends to hold infinitely then there will be no need of exit strategy. Do we plan to sell all our gold or real estate or other valuable properties, they why for bitcoins ?
legendary
Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
January 12, 2018, 11:40:25 AM
#20
~snipped~

Kinda long statement hmm. I suggest to just sit back and relax if your concern is only on BTCitcoin. Goal for long term indeed.

Exit strategy depends on how you play the game. "Exit" doesn't mean you will dump a certain coin to the fullest but just taking advantage of the crash or dip then after some correction you will enter again. But if we are talking about bitcoin, it's not wise to make an exit just to take profits but instead take advantage whenever there is a price crash by buying more quantities of it.

We have different analyzations and consideration on how we execute our moves. Try to find out "what is the best thing to do" and see if it's really worth a shot.
legendary
Activity: 1834
Merit: 1036
January 12, 2018, 11:34:23 AM
#19
I don't see my self a day without thinking of Bitcoin. I may lay low a bit when I hit my target but definitely I will not stop in collecting Bitcoins and holding them. Slowly I will convert to fiat, since we need fiat to live in this world but I'll keep an amount of Bitcoin to hold and convert in the future.
legendary
Activity: 1302
Merit: 1018
Cashback 15%
January 12, 2018, 11:07:04 AM
#18
i don't exactly have a strategy for any exits. i try to reach a balance.
i have invested in buying bitcoin and also earned bitcoin and each month or so specially after a big rise i make a decision to sell some part of it. but i sell as much as it can give me a decent amount of money but also i still have a big amount of bitcoin left.

for example i usually do a 10% sell of my monthly profits. for example if i earned X and made some profit through trading and other things (Y) then i sell 10% of X+Y and keep the rest in cold storage.
We do have the same strategy which is actually effective for me because even though I have sell out some percentage but not totally going all.I do always think off on having bigger bag of bitcoin storage anytime and sell out partial then buyback into other alts or on bitcoin price dip itself. Rinse and repeat and I'm doing this ever since which the results isn't really bad either.
legendary
Activity: 3038
Merit: 1169
January 12, 2018, 10:13:38 AM
#17
i never exit because i find it a dumb move.
i never not exit because that is also a dumb move.
there is a lot of options in between!

you buy bitcoin when it is low and has not yet risen. lets say back in 2015 when price is stable like today with <10% fluctuations @$220.
you buy $1000 worth of bitcoin which is 4.54BTC. now price goes up in the next rally to $502 (2015-11-5) which gives you the vibes of a correction. you sell your bitcoin for $2,279 and wait for the correction to end (basically the idiots to get flushed out) then you take your $1000 and make your exit and then buy back what you sold. 3.87BTC @$330 with the $1,279 pure profit and $1000 cash in your pocket (exit).

rinse and repeat, change things around such as keeping profit in bitcoin not in fiat (6.90BTC instead).

Yup! I have never exited my bitcoin too, It is always good to hold on to your bitcoins, But when I had a chance in converting it to fiat when the value is down like when the price pump up to the $18,000 USD I had converted my bitcoin to fiat then when the price went down suddenly to $14,000 value I then buy bitcoin so I can accumulate bitcoin by doing so, But yes this is very unpredictable and I was just lucky in doing this,

And for OP I really think there isn't an exit strategy you just need to trust in bitcoin and read the movements thoroughly if the price could end up dipping.
legendary
Activity: 1372
Merit: 1032
All I know is that I know nothing.
January 12, 2018, 06:57:00 AM
#16
i don't exactly have a strategy for any exits. i try to reach a balance.
i have invested in buying bitcoin and also earned bitcoin and each month or so specially after a big rise i make a decision to sell some part of it. but i sell as much as it can give me a decent amount of money but also i still have a big amount of bitcoin left.

for example i usually do a 10% sell of my monthly profits. for example if i earned X and made some profit through trading and other things (Y) then i sell 10% of X+Y and keep the rest in cold storage.
legendary
Activity: 2842
Merit: 3518
Join the world-leading crypto sportsbook NOW!
January 12, 2018, 06:41:50 AM
#15
Was it last month or late November 2017? This forum started filling with threads of people doing exactly that: exit. I think most will have held Bitcoin for more than 3 years. Relatively short, but if you imagine that for at least two years people kept Bitcoins never knowing if it would ever breach $1,000 again...

I guess I'm more like you - I don't have an exit strategy... yet. As it stands, I already cash out whatever I need for expenses, sending money home to the old folks, putting aside some for fiat savings, but keeping as much as possible as Bitcoin (now diversified into about 15% alts). What I have promised myself is to examine these holdings at 2020. I will have reached middle age by then, if Bitcoin is doing well, I hope to have enough to start planning my retirement.

Once that value is removed, the rest will be passed on when I check out of this life. I never gave it a price exist strategy, though I daresay the $1 million mark would be tempting. It's more than enough for my family to live comfortable for decades.
full member
Activity: 686
Merit: 146
January 12, 2018, 05:59:21 AM
#14
I haven't determined a definite number or exit price however if the bitcoin price drops to more than 50%, I have decided not to invest in bitcoin anymore from there. It's hard to determine what price would be appropriate since bitcoin still has plenty of potential to grow, the only question is until when. Also, I would choose to exit when I feel like the conditions or environment has deemed for bitcoin to crash. Personally, I've felt like I've already gained profits from bitcoin and have benefited so I won't really feel like I've lost when the occasion arises.
legendary
Activity: 1778
Merit: 4093
January 12, 2018, 04:40:18 AM
#13
I initially planned to exit @ $4000 and told myself to not be involved again. Turns out I was wrong. Exited early @ $2900 only to buy back again at $4400 and told myself again to sell all @ $20000. I was online on Bitfinex when it reached $19k a piece, and back then I was asking myself to offload it all or not. I only traded half of what I totally got and the remaining half I sent to my address. So far, it's one of the best things I've done and I'm continuously tossing the money I got back and forth to help me earn more bitcoins in the process. Initially I thought it was going to pop, but then realized after an extensive reading on the state of fiat currencies, I'm kinda certain that I won't be trading my bitcoin into fiat sooner.

I have felt that way many times over the years..first time I sold was at the height of '13. I had decided then that I would cost average my hoard over time.

I dont have a predetermined number. I exit whenever the TA turns around and then re-enter whenever it crashes on high volume.

Pro beara Tera  s/

My target is enough to make me stop. I have goals and thats enough for me although my standards are high.

Hodl!

i never exit because i find it a dumb move.
i never not exit because that is also a dumb move.
there is a lot of options in between!

you buy bitcoin when it is low and has not yet risen. lets say back in 2015 when price is stable like today with <10% fluctuations @$220.
you buy $1000 worth of bitcoin which is 4.54BTC. now price goes up in the next rally to $502 (2015-11-5) which gives you the vibes of a correction. you sell your bitcoin for $2,279 and wait for the correction to end (basically the idiots to get flushed out) then you take your $1000 and make your exit and then buy back what you sold. 3.87BTC @$330 with the $1,279 pure profit and $1000 cash in your pocket (exit).

rinse and repeat, change things around such as keeping profit in bitcoin not in fiat (6.90BTC instead).

Pro Pooya

Buy high sell low? what??  /s

Hmmmm, I'm thinking probably a heart attack will be my exit strategy. LOL

Heh..could be worse ways right?  



In trading/investing you are supposed to never get emotionally attached to your positions. So, rationally, we should be ready to sell Bitcoin if the situation will look grim for it - maybe competitors will get a better tech at some point (contrary to a popular believe, todays altcoins are nowhere near close to having better tech), or maybe it will get globally outlawed (which won't kill it, but will significantly cripple).
But if everything will be alright, then maybe long-term hodlers won't have to sell, because they will be able to spend it easily instead. After all, Bitcoin is a currency, not a stock or a commodity (inb4 high fees blah-blah).

So, I will try to never exit fully and always have some coins as my savings, but as for partial exits, I'll probably trade some coins for real estate in a very distant future, when I'll feel like the market is very saturated and big bull runs are very unlikely.

Nice...Belize is quite nice I hear...

The percentage as total money supply analysis isn't totally correct.
The price of bitcoin is determined by the marginal price that the market is willing to bid a coin for.
Also, total world money supply is a flow concept not a stock concept because fiat system is signified by its money creation process facilitated by interest rate.

By far the nicest way anyone has ever told me I was wrong.  Cheesy

Yes..supply and demand. Metcalfe's law. I am somewhat familiar with these concepts. I think Bitcoin will grow into some of these things. Once some more of the "features" are ironed out for mass adoption. People will need payday loans still..or SB loans..or what ever... that happens today..but it will happen tomorrow on a larger scale I believe and then you will start to see some of those "flow concepts" like velocity and things that will give useful metrics.
hero member
Activity: 1218
Merit: 557
January 12, 2018, 04:17:17 AM
#12
Exiting does not make sense to me. I don't see the point in exiting, ever. That whole mindset is for people who don't really believe in Bitcoin's potential, or just don't understand it. In the future, fiat money will cease to exist. If national currencies still exist in some form, their value will be based on Bitcoin. This is serious stuff.

Yes total exit among all cypto currency will not make sense in this age. Unless you exit for some personal reason due to money requirement it is fine else it will be a loss of opportunity for them in order to make more money than another way they could have made it elsewhere.
newbie
Activity: 32
Merit: 0
January 12, 2018, 04:03:40 AM
#11
Exiting does not make sense to me. I don't see the point in exiting, ever. That whole mindset is for people who don't really believe in Bitcoin's potential, or just don't understand it. In the future, fiat money will cease to exist. If national currencies still exist in some form, their value will be based on Bitcoin. This is serious stuff.
legendary
Activity: 1218
Merit: 1003
January 12, 2018, 03:57:38 AM
#10
I have already sold a good percentage of my Bitcoins and now I am just waiting longer term to see what happens.
I was lucky that I bought in 2014/2015 so could sell my Bitcoin tax free this year, I have taken a pretty good profit out of it already but want to stay in the game in case it moves up more and more as some think it will.

I don't want to fully exit, I'd be too worried that the price would be $100,000 in a few years, and i sold at $15k...
legendary
Activity: 1918
Merit: 1012
★Nitrogensports.eu★
January 12, 2018, 03:29:30 AM
#9
Rather than have a price at which to exit, I think about the time frame around which I would exit. It is more like a systematic disinvestment plan. Sell out your coins over the next 30 years. The advantage of this is if the market does turn bad, you would still have cashed out during the good years.
For those who have invested over the years, investing now will not make sense.
full member
Activity: 294
Merit: 100
January 12, 2018, 03:22:06 AM
#8
The percentage as total money supply analysis isn't totally correct.
The price of bitcoin is determined by the marginal price that the market is willing to bid a coin for.
Also, total world money supply is a flow concept not a stock concept because fiat system is signified by its money creation process facilitated by interest rate.
legendary
Activity: 2954
Merit: 2145
January 12, 2018, 02:25:40 AM
#7

TL;DR  What is your price? Have you picked a number to exit?

I have. I will never sell all my bitcoins..some will be passed on to family. Some will be donated to worthy causes..but when..not if..that day comes..I will happily part with my coin and have zero regrets.


In trading/investing you are supposed to never get emotionally attached to your positions. So, rationally, we should be ready to sell Bitcoin if the situation will look grim for it - maybe competitors will get a better tech at some point (contrary to a popular believe, todays altcoins are nowhere near close to having better tech), or maybe it will get globally outlawed (which won't kill it, but will significantly cripple).
But if everything will be alright, then maybe long-term hodlers won't have to sell, because they will be able to spend it easily instead. After all, Bitcoin is a currency, not a stock or a commodity (inb4 high fees blah-blah).

So, I will try to never exit fully and always have some coins as my savings, but as for partial exits, I'll probably trade some coins for real estate in a very distant future, when I'll feel like the market is very saturated and big bull runs are very unlikely.
member
Activity: 258
Merit: 14
January 12, 2018, 01:17:36 AM
#6
Hmmmm, I'm thinking probably a heart attack will be my exit strategy. LOL
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