Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: It is ok to sell your Bitcoin.
by
Woodie
on 18/02/2023, 20:09:48 UTC
⭐ Merited by fillippone (2)
I've been in this crypto space for a while now and there is this mentality instilled in people that seems selling ones coin is bad and one is heading to failure which is very wrong at least from my perspective.
Selling is not a bad idea if you are selling at a premium to make some profits, isn't this the whole reason of holding as well Roll Eyes Wait for the cow to be fattened then sell it when its ready Huh

I've always been on the track that investing in Bitcoin simply means buying low and selling high,  which I think is one of the keys to success in the crypto Industry.
This is bitcoin 101 and I believe this is a hodlers rule book demands, but looking at this from a traders perspective I think the markets will generally speak to us, for example, if say expectational order flow suggests price will continue on a bullish trajectory then, by all means, find good discounted prices to buy from before the bull is exhausted....

I always tell people that the moment you buy at a certain price and it starts rising possibly to a price that you feel ok and contented with, then you should feel free and confident to sell atleast to get the profit first and always use stop loss just incase the price drops, rather than having a little portion of Bitcoin and letting it get liquidated just because you want to preach and prove HODLing, trying not to feel odd.
Agree with you, lets not try to showoff when the agenda is to withdraw, not doing so means holding on to our losses for a very long time...

Let taking out profits become a habit and not some punishment.

So my question is:
~ Do people hodl just because others are HODLing?
~ Why do people hodl rather than sell and buy again when low
~ What is your major reason for HODLing and how do your survive the bear market?
I think it should be stated that we have two kinds of hodling, the buy your coins now then comeback after a few years to check on your assets and the other kind which is treated like a trading pair which is also the more risky one has your position can be liquidated .

Of the two types when bitcoin started off people bought held made profits and others copied, today its more about what the markets are currenntly doing.