Bitcoin Forum

I bought for 1,000$ Bitcoin back in August 8, 2017 and I made day trading, bi-weekly, weekly trades. I have sold when price was high and buy back when price was low. In total I have made nearly 20 trades. With every trade I made between 0$ - 50$ - 250$ profit. As for now, my balance is nearly ~50% more than was initial.

If I just hold my bitcoins all these days and sell it right now, I would have: 4,872 $ (3,782$ profit). That's just crazy! And I'm questioning myself: why didn't I hodl my bitcoins? Because of fear. If I just look back, it's easy to say, but within these months there was multiple events that could affect (it affected but not that much) the price of the bitcoin:
- exchanges hack (people cash out)
- big investors/bankers saying that bitcoin it's a bubble/ponzi scheme (people cash out)
- high tx fees/forks (abandon BTC and moving to BCH)
- China banning bitcoin (people cash out)
- contracts/futures (currently) (big traders opening short positions)

In every month there is something. The fear of losing money. How do you deal with this? Are you hodling your coins? Do you invest every month? Do you day trade?

"
In every month there is something. The fear of losing money. How do you deal with this? Are you hodling your coins? Do you invest every month? Do you day trade?"



First of all, just because you would have made 4x, doesn't mean that it was a good investment based on your risk management. Bitcoin is very risky to invest in so I wouldn't recommend you put a large percent of your portfolio. It also doesn't seem like you are a "investor" and are risky more than you can afford to lose which is not good.

"Hodl" is a funny meme that we can all appreciate, but its not a good investment strategy to simply hold. You need to evaluate the market often as it changes, and depending on your evaluation and speculation holding might not be a good option. So merely investing with the plan on "hodling" is a terrible thing.


I invest whenever I see a good opportunity, and I rarely day trade. However if my risk management and evaluation line up then I might. 

Why do you trade and calculate your profit in dollars?? You can also trade with the purpose of getting a profit in Bitcoin instead of fiat currency.
Try and focus on increasing the amount of Bitcoin you have by trading if you're good at it.

You should have no problem increasing your Bitcoin principal at the current volatility.

Anyone who is not good at trading should just hold, maybe do some trades at large price movements.

Most of the traders would not used to trade the bitcoin. Everyone goes to trade the altcoins such as ETC, Neo, XRP, XMR, ETH and etc... Bitcoin is just to transfer their bitcoin which they were earned in trading.
I prefer holding more than trading because having coin with out no effort will be triple the fund means everyone will like that option to go right. Same here to applies.

Regret no more because nothing would change and remember your not the only one who have same experience. In fact, I personally had been working for bitcoins over the past 6months and upon checking my btc wallet in blockchain.info I already earn 0.98btc in total but only managed to convert them all in total of 3000$ which should be around 15000$ if I managed to save them all and sell today at current price but I have no courage enough to risk.

No point regretting now. What my technique has been to hold forever so far, I had bought when price was around $250, yeah that feels so less now, and most of it during the $1000 now yes I regret a bit, but now whatever bitcoin I have left is of pure profit so I have no fear of losing any money. I just hold without fear.

It really depends on what you're holding.  Many of the most successful investors have primarily got to where they are by investing in low-risk, low-reward investments and just holding them for many years (like Warren Buffet for example).

In Bitcoin's case, it's an even better choice to just hold if you're not much of a trader, because it's extremely difficult to predict the future prices when the primary basis for recent price has been speculation rather than usage.
You need to be questioning why you bought back in as much as why you sold.  Both were equally emotionally charged decisions.

I'd rather keep bitcoins. It's more like asset than a currency to trade it. Just waiting till the price will reach a huge amount, then gonna sell it before that bubble blows.

Anyone who entered altcoin trading in July-September are fucked up hard. Eth was 0.2btc in July and today it is 0.025 almost 90% down even though more than 50% growth in dollar value. Bitcoin price surger almost killed alts. My altcoin portfolio went 1/3rd in October. But I exited with loss at that time. I am glad I did that. I am better off staying in bitcoin when it is getting mainstream attention and adoption which other coins are lacking. Money is flowing off from altcoins to bitcoin.

That's why i'm so afraid of entring the trading world. I do calculations in my head and i will always come up with: If bitcoin is always doubling it's price and rising very fast and i will be trading it with other coins when it get low i buy and when it get high i sell then i would most likely lose altough i'm profiting few dollars .If you hold you would be profiting thousands. So it's always better to hold bitcoin and not use it to trade .

i wouldnt blame you because you trading it, ill do the same actually. I mean we not a wizard that can predict a future price of bitcoin right ? you just try to make profit though, man gotta pay his bill.

What is the difference between trading in fiat or bitcoin? I mean I know if you trade for fiat you wath the crypto/fiat exchange rate instead of the alt/BTC exchange rate. When you trade fiat, you can also increase your bitcoin when you buy back at cheaper price at the end. If you trade the alt/BTC pair, you can increase your bitcoin when the alt's price raise and at the end you exchange it back to bitcoin. What is the difference between the two method? (I'm not a trader, but I was thinking about this for some time now).

Holding is not a good strategy in general. Holding something for the sake of holding is not a good strategy and that is not debatable. Warren buffet has nothing to do with what I was saying, he "holds" but only because he is constantly re-evaluating the market and validating his risk management. He doesnt say "generally holding is better" because generally 99% of coins will fail, so then in that instant holding would not be good generally.


Its a nice meme, but some people think it is actually solid advice.

Look at the bright side: you made some valuable experience here. Sure one would wish that he didnt have day traded or didnt buy altcoins etc. but there is no good in regretting. Be happy that you are here now, crypto is still in its infancy.

It's fine to trade your BTC into altcoins and back - I use Gunbot to do that for me - but only if you count your gains in BTC. Counting them in fiat means nothing if you have lost BTC overall.