Quote from: Smilevictorobinna on Today at 05:13:54 PM

Quote from: Cryptoprincess101 on Today at 04:57:42 PM

Quote from: Makus on May 29, 2024, 10:44:18 AM

Quote from: Smilevictorobinna on May 29, 2024, 07:05:32 AM

I might decide to take some profit, but then, I still will be holding

Sure holding is the right thing to, don't let the predictions of some analysts gets into your head as it could be mere predictions, Bitcoin will get to $100k very soon. But taking some profit now would be a bad idea as Bitcoin is still having the potential of increasing after the price correction. There is a need to have an emergency fund saved to cover up to 3 months of your spendings so that you won't need to go back and forth with you Bitcoin investment. The goal is to have a long term Bitcoin holding and once you begin to temper your investment you might not hold for long.

Yes taking profits from his investments now wouldn't be a good practice but I think it will all depends on when he started accumulating, if it's been long he started accumulating then he can decide to take off some profits when the price hits $100k and still continue hodling but it would have been wise to have enough Bitcoin before a decision to sell part of it since it is likely impossible to accumulate again when the price becomes extremely high.

Yeah you are right.
One thing i will say is there will always be regrets in this crypto space because of the volatility attached to it. You might be regretting why you sold early because the price went up significantly above where you sold or you might be regretting another time why you didn’t sale because the price started dumping, these two are part of the space. But the best regret is always that doesn’t make you to be in loss that’s selling with a profit. How do one over come this i will say don’t fix a time to take profit rather fix a price to take profit.

If a coin gets to a price where you can take 75% holdings including some profit and maybe the invested amount too then take them. Don’t sometimes be too greedy for a high pump that you leave your coins most especially if it is Altcoins. Although the most important thing is to invest in what you can afford to lose so that there won’t be any regrets regardless of the decision made. Hodl bitcoin for long, take profit when necessary and you wouldn’t be in regret

The common lines would be;

- Why i had sold too early?
- Why i hadn't bag or making some all in on that bottom?
- Why i hadn't been able to sell on peak?

These questions would really be that commonly be spit out into your mouth or would be something that comes into your mind. Why? This market is really that speculative
on which there's no way that we could really be able to predict on where it would be going. This is something that should be applied in overall or generally here on crypto space
or in any other market on which there's no way on knowing on what would be the future will be.

This is why on the moment that you do step your foot into this market then you should really be that preparing yourself on dealing with the market volatility because if you wont then mistakes
would really be keeping on piling up. You should really be wise and be going with the flow. Dont tend to counter trend but if you are someone whose really that tending to hold
for long term then you wont really be needing to hassle yourself on these things.