The best time for buying is at low price and I think if you sell your coins with profit then you should not regret after Fluctuations in coin price because you have already taken your profit so ready to make another step instead of regret about past.
If you are in doubt about other coin then just buy bitcoin now and don't sell until you achieved your target. This time is not suitable for selling but if someone is in huge profit and he cannot hold longer then selling should be preferred. Understand the market and accept your profit but I think if someone is selling their bitcoin without waiting more so he will miss the opportunity of having huge profit in Bull season.
regrets after selling Bitcoin mostly happens because no one can perfectly predict the coin market.
Prices move up and down it's just based on supply demand and sentiment.if after buying,the price goes down immediately just wait untill it's goes up if you are not urgently in need of money at the time,you just can't predict this things.but it's always save to buy coins when the prices drop .
Your statement here is wrong, Being urgently in need of money should not be the determinant for selling bitcoin, people regret selling bitcoin because they sold early and because they chose to trade with bitcoin rather than invest in it which is a financial mistake, no one should be trading with bitcoin on any normal circumstance instead just keep accumulating with DCA, waiting for the DIP when you can DCA is also a financial mistake as it shows a tendency to sell immediately the price goes back up so don't be telling people it's okay to sell if they are urgently in need of money, this is why having an emergency fund in important as an investor so you don't ever have to sell too early.
You are correct to point out the issue ZeroVinsonN since each of us should be striving to set up our finances and our psychology in such a way that we are not feeling urgent about money, and we should be attempting to put cash cushions between our bitcoin and our weekly/monthly expenses so that we may well not need to sell any bitcoin for 4-10 years or longer after we buy them.
Once we establish a large enough bitcoin stash, then perhaps at that point, we might start to sell bitcoin from time to time, yet if we build our bitcoin stash, it would most likely take longer than 4 years before we might start to feel that we might be in a position to start to be able to sell some bitcoin, even if we might have had gotten to overaccumulation (and/or front loaded our bitcoin investment) earlier in the process.
It may well be that Youngrebel is thinking about bitcoin as a trade rather than as an investment, so bitcoin becomes more scary when it is considered in that kind of a way - especially since bitcoin tends to be so volatile, which is another one of the reasons that frequently we need to build a cushion of funds between our regular money for expenses and our bitcoin that hopefully we are building until it gets to a large enough status that we might start to feel comfortable selling some of it from time to time.
Guys who consider bitcoin as a trade might never get to status of feeling comfortable with their bitcoin because they are ongoingly considering when to get in and/or when to get out.
Yeah, you're absolutely correct. A lot of investors find it difficult to build that cushion between their personal finances and their Bitcoin portfolio, but once they learn to do this, it totally transforms their perspective about HODLING. Instead of constantly worrying about the market's temporary fluctuations, they'll be able to sit, relax and actually treat Bitcoin as the long term investment that it actually is. People don't mostly tend to be worry about the short term fluctuations when you're in charge of your personal finances, know your bills and have all your living expenses completely covered from other sources. When investors have that extra space, it gives them the flexibility and freedom to actually HODL their Bitcoin patiently and confidently, and if you ask me, I'd say that mental shift is just as profitable as the actual gain from the investment.
It's almost impossible for folks to avoid feeling that pressure that comes with market volatility in the absence of that buffer, because you can't help but have that feeling that your immediate security is going down the drain with every little dip that hits the market, and this has the potential to birth drastic and rash decisions. But when you structure your finances, putting yourself in a position where you won't feel the need to tamper with your Bitcoin investment for years if you really don't want to. This way, short term fluctuations becomes less of a concern or threat to you but rather an opportunity. When there's a dip in the market, you no longer feel the pressure or feel like your money is washing down the drain, and whenever there's a bullish trend, you equally don't feel the need to dump and sell off everything to lock in some profits, rather, it's more of an affirmation of why you're Investing in Bitcoin in the first place. Although this isn't a perspective that every investor has in their early days, it's something that comes naturally with time, and of course with putting that financial cushion cover in place.
I also think that you're spot on about your thoughts on the difference between considering Bitcoin as a trade and as an investment. Folks who consider and approach Bitcoin with that trader's mindset often get too obsessed about so many things, such as timing the market. They're always like, "is this the best time to buy? Is this actually the next big move? What if I buy now and miss the move?" With such thinking, individuals tend to always keep themselves on the edge, because like we already know, the market is mostly unpredictable and there's no way folks can always get the timing right. But when you choose to flip that mindset to accumulating and building wealth for the long term, you kinda set yourself free from always feeling that anxiety and transcend into a more liberated approach, there'll be no more need to stress about timing the market, just buy and HODL, as simple as that.
And as you proceed, the approach provides you with more security and more peace of mind. You'll be in charge of every decision you make about your investment, rather than being at the mercy of the market. And when one eventually reaches a state of overaccumulation, like you mentioned, they'll definitely have the luxury to consider diversification, that's if they really wish to, without actually having to go through any form of pressure. At this point, selling of Bitcoin becomes optional, rather than a necessity.
Making a good point. I’ve been in such situation before where I tend to sell off my Bitcoin at loss but as time goes on, I began to gain more confidence and understanding it’s volatility. When going into bitcoin, one is tend is have an investor mindset, because that’s the principle thing that would help you stand strong, knowing it’s a long term investment not waiting for it to rise and get a profit within a short term. I believe that understanding bitcoin volatility and long term rewards, will always give one the confidence to buy and accumulate more bitcoin when it dips.