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you know, if not for constantly going through the thread that constantly reshapes my mentality and thought process on how much
BTC is enough before ever thinking of selling, 0.04
BTC which is around $2.5k looked like a big deal for me cause my current weekly DCA accumulation amount is at $40 and I haven't done all that long for my ten year projection and the urge to sell part during this bullish period had once come in.
I guess the best thing to do is to remove any thought of selling our holding out of our mind untill we reach our set out goal during which we can consider using the taking strategy which I feel if followed properly will keep us in good profit but the only issue is that after selling part of your holding holding when the market is bullish, chances are that Bitcoin price might not necessarily go bearish to a price you will be comfortable to buy within a short period of time which like you've pointed out will almost look as though you're gambling with your holding.
I like the explanation, and it is not a compulsory thing to do, if you don't understand how to go about it, so that you don't end up messing around with your bitcoin by selling it in a way that it will affect your bitcoin hodling compounding profit. I am still in my accumulation stage, and I will like to continue with using DCA strategy, and any other additional method of accumulation to enable me focus on my bitcoin target, because I think that I don't want to sell any yet using that method explained by JJG.
It is our choice to use whatever way that we think will work for us based on our own cash inflow.
This should be a method for those that have accumulated to a point that is satisfactory for them. A point where you might as well use as your target and have probably exceeded it and still accumulating to get more bitcoin in your portfolio. Taking partial profit because your investment as rose above your initial capital will only affect your plan of reaching the target on time. And if you’re engaging in such, you’ve already broke the rule of DCAing and won’t achieve your target as soon as possible. You have now deviated from investing but now gambling with your investment which will not go well for you especially if you’re a newbie that have no idea on trading
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I know that it is not advisable to keep your bitcoin in an exchange, but I don't see how an investor from Nigeria who has his bitcoin currently in an exchange, because he is buying with little amount for as low as $50-$100 a week so that it can be saved till it gets up to $500 and above before sending it to your private wallet, so that in future, when transaction fee is high it will not affect your output, will be affected by Naira being removed from Binance and no more p2p for Nigerians.
The reason why I said that it is not a problem is because, you are not selling but you are piling it up, and Binance did not restrict anyone from Nigeria from transferring their coins to other wallet. So the person that has his coins in Binance will simply transfer his coins to his self custody wallet, without a problem. You cannot make use of p2p in Binance does not mean that if you are having your bitcoin there, it is stuck. However, the investor from Nigeria can still use other exchanges like Kucoin, and OKX to buy bitcoin because the law on Binance did not affect them. I bought bitcoin recently from Kucoin, is just that their transaction fee for transfer is 10% of the amount that you want to transfer.
Your explanation sounds correct, Ruttoshi... sometimes options close, but that would not necessarily mean that the Binance users in Nigeria had been rug pulled, even if one of their on/off ramps might have been closed.. but surely sometimes one thing happens that leads to another thing, and sometimes we might need to recognize signs of our coins potentially being more at risk when there are greater levels of hostility that might take place within any particular jurisdiction. People can sometimes get nervous and panic because they might not know which options are available to them.
What I feel is the better solution to this uncertainty and unforeseen circumstances that leads to such panic in your investment in bitcoin is knowledge. When you don’t seek for more knowledge about what you’re investing in after you’ve even done the investment can serve as a risk to your investment. The inability to understand the structure on which your investment is built on will definitely lead to panic and will cause you to fear into selling off your assets in bitcoin so that you don’t lose out on your investment all. For a knowledgeable person in bitcoin that has knowledge on bitcoin can tell that the restrictions on Nigerian users on binance is just to halt the p2p activities but every other thing is working fine. And as a long-term investor in bitcoin, you don’t need to panic because at least you won’t see the option of selling your coins but can only save and transfer between your CEX and DEX wallet for better security.