⭐ Merited by JayJuanGee (1)
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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.
Obviously, bitcoin is the best performing assets and cannot be disputed but I understand while despite its performance some folks worry about its sustainability which is one of the reasons why they want to take profit too early.
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.
Obviously, bitcoin is the best performing assets and cannot be disputed but I understand while despite its performance some folks worry about its sustainability which is one of the reasons why they want to take profit too early.
I believe it's too early to think about Bitcoin's market "sustainability". How many Bitcoin users are there today? How many more users in the world are financially underserved? There simply is too MANY.
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Bitcoin price today is 61K USD and even at this, bitcoin is still at its earliest stage. There are still so many people, institutions, and countries that would invest in bitcoin together with some market forces that will push the price above 100k. It is very attainable now.
But during 2019 there were merely a handful of people who would say with real confidence that Bitcoin will surge to six digits. Many times, those people were derided as stupid, or called "Moon Boys". ¯\_(ツ)_/¯