Quote from: Rustam Meraj on Today at 12:31:12 AM

It is smart to take profits if you are using money to diversify your investments start business or improve your home as these actions build long term wealth. However you wisely caution against spending profits on unnecessary luxuries or converting them into cash that loses value or jumping into risky altcoins just because of hype which is mostly gamble and not real diversification. And I also think that if anyone has already invested in Bitcoin so he/s is at right place. He/s just need to hold it for long time. But he/s must have stable income to stick to his/her plan. So due to this diversification is compulsory.

Regardless of the reason why any one needs to take the profits, as long as it will contribute to his mental, emotional and even financial well-being, then it’s very fine. After all, you invested into bitcoin because you have certain goals to achieve, and this could be the start.

But just a piece of reminder, if you think you are still starting to gain a small profit, don’t jump on spending on it for luxury, because once spend, it’s considered a lost opportunity. Instead, add more bitcoin to grow your portfolio, or if you have other opportunity to invest in other physical business, that’s already a good diversification of your first investment.