I first started investing in Bitcoin after the June crash last year.
I had accumulated 0.07 Bitcoin before we started pumping a few weeks ago and have since sold 0.02 which currently leaves me with 0.05.
I decided to sell and put the profits into other altcoins I believe will see greater gains in the next bull run.
I am not sure if I should continue selling my Bitcoin the more we pump or if I should start to DCA again.
My thinking behind selling is although I got in at a good price (my current average buy is £15k), that it is only a 6x from £100k which is the expected amount Bitcoin will reach next bull run.
A 6x is good if you have thousands of pounds to invest , but I do not.
I want 20x gains and feel this is more realistic in top altcoins that are currently 80-90% down.
Is anyone taking profits or are most of us just DCA?
I haven't profited on bitcoin bulls at the moment and still have it sitting in my wallet. If I do the math, I made a profit because I could buy at a low price of around $16k-$17k but I believe that the current price could go even higher. I have a high target price, which is above $69k and if the price can exceed $69k, I may sell slowly or half of the total bitcoins I have and prepare to buy at low prices again.
And it will depend on your strategy because if you want bigger profits, you can wait and continue doing DCA. But if not, you can sell some of your bitcoins and buy bitcoin again when the correction comes. I do not recommend buying in altcoins but it's up to you.