Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Moreno233
on 02/03/2024, 10:22:59 UTC
Taking profits like you said is dependent on many factor and
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.
I don't understand what you mean that taking profits from your Bitcoin investment is bad neither do I understand how that is related to gambling. Are you suggesting that one should never sell Bitcoin? Why do I sense insincerity in your statement? Does it mean you don't plan to sell some of your Bitcoin at some point in the future?

I don't agree with you that taking profits is bad and same as gambling. Bitcoin was created to be a medium of exchange even though we have seen that holding it will make it appreciate in value as with every important assets. Selling is just part of what makes Bitcoin what it is and at some point, one gave to sell some of his stash to be able to enjoy his Bitcoin.