Quote from: Mayor of ogba on Today at 08:57:31 AM

Quote from: Wind_FURY on March 02, 2024, 11:06:35 AM

Quote from: I_Anime on March 02, 2024, 10:29:42 AM

Quote from: boyptc on March 02, 2024, 10:28:00 AM

I am not sure with that but I try to comprehend as well what he said. Whether we sell at a not so high price but we're able to profit from it. It doesn't matter how long someone has to wait for him to buy back.

It's not bad to take profits, actually we have to take profits whenever we can because that's the goal of everyone why we invest.

taking profit from your investment is not bad but still depends on the quantity of bitcoin you have accumulated. So in a scenario whereby a newbie started his journey of accumulating bitcoin, and he or she haven't gotten to anywhere with Their accumulation (have low quantity in their portfolio) and started taking profit from their investment expecially for those who are planning for long-term holding .

They doing so in taking profit from their investment in any increase in price of bitcoin. Shows that they lack principles in their investment, because that action may only result to slow growth of their portfolio. But as some one who have gotten far with us accummulation like holding from 4-5 yrs and above can start taken profit from their investment not those that just started their accumulation journey.

Taking profit from your investment is good, and actually suggested so you can re-invest those profits into another asset. BUT in a new asset class such Bitcoin, I would discourage anyone from taking profit in any price under six digits. Why? Because we haven't truly seen its real value financially, and its REAL value socially and politically.

Anyone taking profit from his bitcoin investment with the idea of buying back when the bitcoin price dumps is taking a great risk because that person will not be patient enough to wait for the bitcoin price to dump so that he or she can buy back his bitcoin because the bitcoin price keeps going high. FOMO will make that person buy back his bitcoin, even with the profit the person took from his bitcoin investment, just to be among those who are holding bitcoin in case bitcoin does the unbelievable. The person will be buying back less of the quantity of bitcoin he or she sold out because of the high price of bitcoin.

People doing that is not really for long term since if they aim to hodl they would never think about selling their bitcoin when they see a pump and think about buying again when the price dump. The person who doing that are traders and I guess there's really a high risk for them to lose their money if they repeatedly doing this schemes. And won't recommend this to newbies especially if they don't know what to do next and much really better to anyone if they just hold their bitcoin and aim for long term since this will give them more decent result, also for that they would not get affected on any FOMO circulating around.