Topic: When do you think it will be a good moment to sell some of my bitcoin? (Read 379 times)

I've seen some interesting replies here. Sorry that I don't have any more merits because if I had, I would have given some to other replies.

Among all the replies, I think I'm going to go for this one:

Before I can ask for advice, I want to know what you want to achieve. What do you focus on? In market speculation or in Investment? If you are a trader at a glance you will see when is the best time to sell, if you are an investor just do a follow up, but I advise you not to leave your bitcoins, go, save, if you can buy, because Bitcoin will have a great value in a not too distant future.

I would suggest you to go for it when the price reaches the $20,000 as per your set figure because I don't think it would take much longer for bitcoin to reach $20,000 and I would suggest you to sell off 50% and Hodl on to remaining so that if the value of Bitcoin increases you may sell it during it's peak or else if the value starts to dump you may sell it at the first dump or correction itself, it's work taking this risk as your loss might be minimal if the value drops but profit will be more if value pumps further than $20,000

The last ATH price is around $20k, so it there is a better time to sell at least half of your stash is that when we reach a new ATH, perhaps $25k-$30k will be a good start and then see how it goes.

Why? It's pretty obvious, as a investor you should be looking at the best way to make profit and should be selling at a new ATH, it's a break out. Another strategy would also include selling in parts, 25% at $20k and then 25% at a new ATH.

Well, that purely depends on what would be the OP's perspective whether he's planning for a long term profit of actively short trading (which a bit difficult than hodling long term). But, since the OP mentioned he's been hodling for years now, It's safe to assume that he's aiming for a long term profit and he's looking to sell some fragments in this bullrun which I think it's also a good move, but it's always better to sell at the peak, that also depends on your risk tolerance and patience.

No one on his right mind on where he do sell out his coins in loss and considering on the day that he had ask this question  then its definitely on the lower price
and if he had consider the current price at the moment then it isnt bad to sell of his stash and as long he do see greens then that what matter most.
Moment of selling will be something on that very basic of buy low sell high but chances like these isnt really simple do it comes.
So we should take action while it still last.

And since the OP is saying that he will surely sell some. So first question, what price of bitcoin did he buy? Because if the price right now is higher from what he bought it. Then sell something today. But if not, wait a lil bit up until the price is higher from what he bought it. Remember, the buy low sell high mantra in trading?

There is no such time as a "good moment to sell bitcoin", it is entirely dependent on the individual circumstances of the person asking the question. If you are a millionaire and have a steady stream of money coming in through investments - so much that you would never have to work again if that's what you choose, then you would never need to sell bitcoin. If you are making a minimum wage and happened to buy 100 bitcoin back in 2009 and it is your only form of savings, it would be extremely wise to sell at least half and diversify it into other assets - most likely property or stocks. This would just be sensible, because nobody knows what will happen tomorrow and if Bitcoin was to crash for some unforeseen reason it would wipe out everything you had.

I believe there could be better investments in the world than bitcoin, I know this is not something you want to hear in crypto world because you want to hear that bitcoin is the best investment anyone could make, and if we are talking about financially you might be right because bitcoin could be the best return on investment anyone could have.

However investment doesn't always mean profitable returns, sometimes it means guarantee and ease of mind. If you are in bitcoin (or any other crypto for that matter) you are always anxious about what is going on, on months like these we are talking about making a ton of profit but what if something like 2018 follows after this increase?

People lose sleep over being afraid of what is going to happen to their bitcoin. There are stuff like real estate where you do not have to worry about it as much because real estate is not as volatile. So if you want to sell and get out, make sure you have a better investment option somewhere else.

Let me help you with what he said. Based from my understanding, selling quick during fast runs is a day-traders act and they usually do it because it will be followed by quick drops too. I could be wrong with that, CMIIW.

And as for the slowly increase, there's not that much action and all you have to do is to determine your position. If there's a need to sell, you've got to sell but if you don't have to, then no need to do any thing.

sell when you need, that's the best advice...
selling Bitcoin just for fear of missing a moment like this one will not bring much profit. the best step to get a big profit is to sell a piece of Bitcoin for your needs then HODL the rest until you really need it again.

It is a good time to sell your bitcoin once you have a good profit from it. Yes, it's hard to sell your bitcoin or any crypto-currency when you see it pumping. We always want to have many of it, but it's harder in feelings to hold your coins too long and didn't get any profit from the pump. So once the price of it gives you a nice profit, it's time to convert it as long as you've gained enough profit.

For long term holders, I don't think they should sell a portion of their bitcoin when the price goes up because I believe they will stick around and sell bicoin once the new ATH is reached. Regarding your question, consider selling your bitcoin in stages if you still really believe that the price will still go up rather than selling them all at once and like $18K, $19K, or $20K. This is much better because we never know what will happen to this very volatile price of bitcoin. I don't think this step would cause you any disappointment if the price hit $21K because at least you still had bitcoin to sell at that point.

It's your choice and decision what will you do to the bitcoin you have because maybe for the others is not a right time to sell of to your bitcoin but for you is not.

This time rising of the bitcoin is continuing and we are expecting to up more the value and ATH will see again and more than what we achieved in the year 2017 we can make new ATH this year 2020 and hope will continue in the next few years.

I guess that it is not difficult to answer. You can sell bitcoin at a high price. That is the basic rule. And how do you know when the price can reach a high price? It's easy because you can see when the price starts to rise, and if the price does not break the next high price, maybe that is the highest price temporary, and you can sell it for some bitcoin. You can save the other bitcoin for the next high price to sell it again later. But you can sell it all once if you want, but sometimes, the price can still increase higher. So that will be your call.

Can you maybe explain in a bit more detail why to sell quickly when a fast run up comes? And why to sell slowly when it increases slowly?

Well, it is never really a great idea to sell your bitcoins if you ask me. Obviously if you have to cash out for a life emergency like a hospital visit or something that major, you should definitely do that and it is fine, however you should not cash out any bitcoin unless you absolutely have to.

Bitcoin is something I will leave for my child, unless I figure out a better way to make it better for my kids, like maybe cash out for better education for them or cash out for their dream house they could live with their spouse, basically cover their costs as best as I can with it, but if I can afford those regularly and not need bitcoin, I will die and leave all my coins to my kid, that is how I invest. So basically, never cash out unless you feel like you have to.

Why don't you trend follow it? It is not about selling it at the top because we are not genius wherein, we can identify if it is already a peak or it will form another peak. By doing some strategies in trend following, we can preserve our gains and we can run while the price of bitcoin is keep increasing. When you do a trend following, the only time that you will sell your bitcoins if its current trend already giving a sign that bull market is already finished. We do not know where the price of the bitcoin will go in this current trend and that is the reason why trend following is good strategy in an uptrend cryptocurrencies. I think the best time that you will sell your bitcoins if there will be a major breakdown indicating strong selling pressure.

If you were able to sell at $1,100 and rebuy $750 (January), or sell at $1,300 and rebuy $900 (March), then sure! Nothing like increasing your stash by 30%. Selling the top and buying the bottom of the following correction is easier said than done though, of course.

What are your thoughts about short term resistance at the old ATH? You think we'll blow right through it without looking back?

I hope you change your mind and aren't planning on selling long term btc that you've been holding for years right now! That'd be a bad decision, unless you plan on buying back in on the incoming correction.

You say you want to sell near the ATH, but why would you be selling at the OLD ATH?? That ATH is from 3 years ago! The next peak is going to be far far higher. You definitely don't want to sell just before Bitcoin really gets hot again.

Think about it this way:
Would you be happy selling in early 2017 just as the price hit $1000 again...and then went to $20k later that year?
Would you be happy selling in early 2013 just as the price hit $30 again...and then went to $1150 later that year?

Instead of selling at the OLD peak, how about trying to sell near the next peak! The market is shooting for in the range of 100k in the next year or two. Sell somewhere between $50k and $100k and you'll be a lot happier than waiting years to sell only to sell below the 3 year old peak not too long before the price blows past that by several hundred percent.

My mom actually recommended to me today exactly what you are saying, OP. She said I should sell some of my long term bitcoin now that it's close to $20k again, and put it in a savings account haha. I always laughed her off the phone call haha. I tried to explain to her that she doesn't understand how the bitcoin market works if she's telling me to sell underneath a 3 year old peak just as we are starting to move toward the later middle stage of this market cycle.

Seriously, just ask yourself the above questions, would you be happy with your decision if you'd sold at $1000 in early 2017, and then watched the main part of the bull market commence?. Because selling now would be doing exactly that.