Quote from: Obim34 on Today at 02:58:32 AM

Quote from: Moreno233 on February 29, 2024, 05:06:27 PM

Quote from: teamsherry on February 29, 2024, 03:47:48 PM

Quote from: Dunamisx on February 29, 2024, 02:55:36 PM

As we can see the way the whole things are going now with the bitcoin market performance, this is to encourage us the more to hold if we have not yet done any and embrace the patient needed till we arrive at the 2024 halving and thereafter, if we really have the target of bullrun at mind, we can then go by this because this is one of the provided opportunity for an investment in bitcoin as we are more likely to have the highs more often than before and there's more possibility that we are going to experience a new all time high right before the halving begins, the recent market performance is the first impression on that, we can as well as consult more conviction from the past halving's in record.

Our patients should not be till the next halving that's not our goal here, we should be more concerned about getting more Bitcoin in our stash untill we are 4 years into Bitcoin then we can start thinking of taking profits, your patience sounds so short term like we need to take profits right after the halving.

Both bull and bear are part of the Bitcoin cycle and it doesn't need to take us off course from our plan as long term holders, I know that it's possible to be thinking in terms of taking profits to buy back when the price is lower but you never know if that would happen or if Bitcoin would just set a new record and never return to price like 35-40k range, selling Bitcoin at higher to price to buy back at lower price is risky and can be seen as gambling and one thing to have in mind is you can never be so smart.

Taking profits like you said is dependent on many factor and also based on individual preference. It will not be wise to sell your Bitcoin when you have not figured out how you will be able to manage the proceeds, else you may misuse the money and run out of Bitcoin. Instead of a situation like this, it is better to hold across different market cycles like the early buyers are doing, I mean those who bought 2013 and thereabouts who have seen many market cycles but never took profits like most of you are suggesting.

My plan is to hold beyond this market cycle and if eventually another bear market comes, I will simply use it to gain more Bitcoin at lower prices. I understand others might have other plans are are free to use any approach the are fine with but my concern is to ensure I do not run out of Bitcoin.

Taking profit from your Bitcoin investment is not something bad and worth debating since all purpose of investment is basically to get profit at the very end of investing. During this profit taking one should understand a simple terminology like this one, firstly who holds longer makes the best profits, then why collect profits too early if your goal as an investor is to make steady profits with your investment, taking some profits after separate cycles is not bad as per if the need for it occurs.

Taking profit from your bitcoin investment is bad. It is the same thing as gambling because if you sell your bitcoin at a high price, you will need to wait for the bitcoin price to drop to a certain price before you can buy it back. But if the bitcoin price keeps going high, FOMO can make you lump sum on bitcoin so that you will not miss out or you end up losing hope of buying back because the bitcoin price is too high.