I promise myself that I will hold my coins till the price of BTC reach $100k before I will think of releasing the coins to the market to make some millions, but over one year and some months now the price don't want to reach $70k or $100k, and I feel like selling the coins to solve some issues in this current price $25k so that my neighbors will not laugh at me and my family because, I hat begging people to borrow money to solve problems than to use what I have at the moment to solve it. Well, if I sell the BTC now I will not regret because I bought the BTC when the price was $20k last year, and if I sell now at least I have little profits to make to solve the problem because there will surely be another bear to buy and hold again. I was told that some people have been holding BTC over 7 or 8 years for the price of BTC to reach a particular price of their choice before they can sell, does it mean they don't have issues to solve by selling their BTC? Or they have other way to get the money to solve the issues without selling their BTC? because it hard me to hold long like one year when there are some important things to buy.
Not that I don't make profits when I hold, but to hold for that particular price to come to pass is the major challenge to me, can you share your idea on how to make it real in the future for that your target price to come to pass, so that people that are facing the same problem like me will learn.
Holding coin isn't that easy and it's somehow challenging in this country especially with the present situation of this country. Almost everyone is with one or two financial issue to solve. Even the movement of the market sometimes can prompt you to sell. Imagine when you buy at $40k and the price move to $65k after some months, in the next month you now experience a dip to around $38k. If one doesn't have strong determination, he/she may sell out with any next move above his/her purchase price especially when he/she has a financial issue to solve. He/she says to himself/herself "let me sell at this price and will rebuy at dip anytime it goes down beyond this price" But this doesn't work out this way in most cases. Things one needs to overcome this is:
1.
Strong self determination: This is the greatest key here. If you are determined then you will never think of your coin as an alternative to solve any problem.
2.
Avoid holding your potential coin in an exchange: Holding in an exchange is more like a temptation to sell. I could remember lately when I need some fund to solve an issue. I decided to sell part of my BTC but the high charging fee to transfer to exchange discouraged me. So I look for the money in an alternative way. Exchange enable you to sell your coin easily within a few minute.
All that we need is self determination
3.
Avoid checking your wallet everyday: Checking wallet everytime or everyday will make you put mind that you have money somewhere. Treat your potential coin like a fixed deposit in bank. Since you set a target already, just forget you don't have assess to it until the fixed time.
This is what I do to avoid selling my potential coin and I believe this should help you out as well. Learn to keep your BTC today as most potential holders of BTC often make more profit.