Bitcoin Forum

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members (https://bitcointalk.org/index.php?topic=5437749.msg61696079#msg61696079)". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

Anyone giving you any suggestions concerning that would be doing so from their point of view which may not go in accordance with your point of view, you are an individual here, you know what you want from your investment only you can be able to call the shot.

From my perspective a gain of 4000 naira is about $8 which is very much low to me and not even up to what I should consider a profit but like I said you are the investor here, and the only advice I have for you is to create your own target what do you want form an investment and what are the losses you can bare then you work with those details.

The best advice is the one you give yourself.
When you purchased your Bitcoin, what was your initial plan for the coin? Did you plan to hold on for long? Or you planned to just pick up a few bucks and leave?
The decision you need to make now is based on the plans you have had from the very start. If you have the plan of hodling for a long time, then I will advise you to keep on hodling until you can make a larger profit.

But if your plan was just for a few dollars of profit, then you can cash out now. But I really don't see $6.32 (base on current USD-NAIRA rate) as a big profit. Unless you need to use the funds for something else, if not, I would rather you continue hoarding.
The market is always this way; we don't expect it to always be stable or to always be bullish. Sometimes we need to experience a bearish market in order to prepare us for the bull run ahead.

You should keep holding your coins for at least a few months. There is a chance of a bull market in coming months if you can hold it till that time then you will most probably gain more profits than what you are getting now. If I was on your place then I should definitely hold my Bitcoin, and wait for the next bull run. Because, the next bull run will definitely give a lot in return for the patience.

You should focus on good ROI, because an investment with less than 20% ROI is not a good decision, and any good investor won't accept that much if the initial capital is not too much. You will have good experience by holding those Satoshi's for few months, and with that you will learn the benefits of long term holding in crypto market and you will not only have good ROI, but in future that knowledge will help you in other investments.

You can't be good in your investment the moment emotion is allowed to mix with your plan. You may not be ready for the investment when you did it since you don't havee the strength to stay committed to it due to personal demand, I don't know how this will sustain you beyond now. The risk needs to be taken, you can't do without that, the money you invested is small as well. If you can't control your emotion with this small money, how will you control it when it is big?  My advice is that you hold your citcoin, do not sell it, sort out for your needs from another source.

I think the best thing to do right now since you're confuse and already earned some profit, why not play safe?
Take out your capital and leave your profit in crypto? and when you feel that the price is already good for you then invest back the capital that you've secured.
Whenever you invest on something always have a plan so you wouldn't be so confused on it when things got hard.
Make some plan on how long would you hold it, what is the ideal price for you to take profit and if you would take profit would you sell them all off in just one time or would you sell some of your asset whenever it reach the price that you've set.
What is the maximum amount of lose that you are willing to take, what price are you going to cut off when the price starts to drop down.

Why instead of creating new thread is at least edit your previous post to not creating almost similar thread with just continuation of what you previously asked?

but about your main question? for me you Should KEEP HOLDING.

there are lots to come mate.

what are you? investor or just a quick income seeking?

if you are investors then best to keep Holding mate and that is what you will be facing in the next coming days.
you must not implement it quickly because this is your money and not ours to lose mate.

I can see in your heart that you are filled with fear, skepticism and greed for this market specifically bitcoin. Ask yourself if you did what you thought you were doing when you first entered this market, I see many people being easily swayed by this market when they haven't started participating.

Everyone's personal life is different so I empathize with the situation where you are finding it difficult, but keep this fact in mind as it may be one of the mistakes you will see in the future. the beginning and giving up midway.

There is no way for anyone to tell you for sure what you can do. The market is very bullish yet we are also weighing whether this dip is just a correction or a continuation of the bear market.

So if you are a short-term holder, you could have sold already even when it's down a bit already. You still profit a little but if this market suddenly shoots to $32K, you might blame the one who adviced you to sell.  ;D

You can continue that topic and ask community advice. Creating a new topic is not necessary if you can simply edit your past topic title from "How I decided to buy some fractions of BTC after discussion with member" to "Little Bitcoin investment becoming something else".

A new topic title will be enough for you to continue that discussion but with a new updated question.

Hold your bitcoins, buy more if you have savings in fiat currency and don't plan to use all your savings for emergency. It is clearly that you should not use all your savings for bitcoin investment.

This here is proof that no one knows how the markets will move in the short term. If you think bitcoin is actually a good investment, why sell so soon? You're pretty much trading here, not investing.

Also, if you have to sell your bitcoin for your upkeep, then you're probably overinvesting. Always have fiat money ready for your personal spending, and some ready for a rainy day.

Bitcoin is unpredictable, no one knows what will happen tomorrow, so we cannot give you advice. It would be best if you decided for yourself depending on your situation. If you need money urgently for living and raising children, you should sell it. And if you don't need that money, you can hold it for a long time, you should keep holding it to get better profit.

Bitcoin investment should only use idle money and hold for a long time if you want to earn good profits, you should not use the money to spend every day to invest. I think you should reconsider your investment, you are investing in the wrong way.

Buy and sell while holding is my strategy right now HODL is great but take profit is a must at the end of the day the reason I am holding is take some profit.

So when you buy and DCA and made a profit it is okay to take profit some of it and continue to buy more when the price had a correction

If you regret missing the opportunity to sell Bitcoin for $31K, it will never be right. We will definitely be waiting for something big. 
Don't get too flustered that the value of Bitcoin has temporarily dropped. We should be patient at this time. Now the price of Bitcoin is hovering around $27K. If it can create a good support here then we will see a big change in the Bitcoin market very soon. It's only a matter of time before the price of Bitcoin goes to $40K. If we can be patient and trust the market then we will see this price change of Bitcoin very soon.

Since you missed the $31k opportunity I think your goal was bigger. You stick to your goal and fix a specific target at which you will sell your bitcoins.

Depends on what you're timeframe is. If you're simply planning to sell because it's going down, probably a dumb idea. I'd suggest you to replan your investment ideas and set up a specific time frame instead, or maybe a specific profit at specific time frames, multiple ones so that if it doesn't go according to it you can go to the next one.

Now If you're selling because you're gonna buy and sell in the short term, I reckon anytime you profit is a good time to sell, you can simply buy at bigger dips when they come.

Not only you but we don't know what the market will be like in the next 1 month. It could go up or continue to plummet from here, so no advice for you, as no one wants you to blame. In investing, you should have a specific goal for yourself, that is, you need to have a goal to sell as well as hold for how long. You should not invest according to emotions and become too greedy, the market moves unpredictably, so it will cause you more pain than pleasure. If you need money, you should sell your bitcoins because your child's needs are still more important.

I know it might be difficult, but you should really try to remove all emotions from decisions linked to your Bitcoin ownership. Your bitcoins should be forgotten, until the Bitcoin price reach the point where you want to take profit.

I had several friends that sold their bitcoins at a loss, because they were to fixated on the price. Do not look at the price every day, because it will constantly trigger emotions to tempt you into selling it.  ::)

If you think that this much profit is fine for you then you should sell it because when to sell or buy is your decision which should not be influenced by any other members.The prices can go down from here which might make you sell at even low and loss also but if you can hold it for next few months then you can get returns also which will be more then current one.So you have to make these moves on your own.

Your position as a young mother wanting to help ease the daily expenses of the family I think is great and I can understand if you want to secure your return on this investment. True, emotions can sometimes run high when investing, but it is important to make a rational decision based on your financial goals.

Regarding the decision to hold or take profit can be tricky due to the unpredictable nature of the Bitcoin market, it is difficult to know what will happen in the future. If you need money for your maintenance, it may be wise to take advantage and use it for your immediate needs. Remember to keep some invested for long term growth.

If it's so hard for you selling is a good option when you're already in profit. The bull market most likely won't come this year, so make your decisions from that, if your plans are short-term.

This is not the best place to ask for advice. In fact, it's better not to take financial advice from strangers at all.
Probably, when you invested your money, you set yourself a goal - a target. Start from it and do what you think is the best.

For example, for me such an amount is not considered a big profit so I wouldn't sell it. But we're all different and we have different goals, so this could be a good deal for you.

First, what is the reason why you bought some Bitcoins? Is it for long term? Is it for short term? Is it for medium term? That alone will answer your question.
NGN4,657 is around 10$ in USD which is for me not a good profit knowing that you held your Bitcoins for more than 2 months. Just imagine getting only 10$ of profit for more than 2 months? I would suggest to add more, and hold it for the long term. 10$ profit for a week might be good, but for 2 months, I don't think so.

This is the problem when you are being too emotional with your investments. There are sometimes that emotions dictate your decisions, and it happened this time. You choose to let your emotions control you thus, you didn't sell at the $30,000 price which is an obvious resistance.

So you are investing because you want to help your husband, eh? I don't usually suggest this, but if you really want to help, I guess do trading. Just the basic buy and sell might be good already. I mean there are some risks into it, but if you really want to help then I guess you will give some time to learn it right? It will be more profitable, but it will be more risky than the usual buy and hold strategy.

If the problem is taking advantage, in my opinion it is very relative. Because every bitcoin investor has different intentions in carrying out their investment, but in essence all investors also want to make a profit. But in my opinion, there are two ways to get profit by investing in bitcoin. The first way is to invest in bitcoin for a short period of time. Usually bitcoin investors who do this method always sell their assets when there is a profit, even though the profit is not too big. Then the second way is to invest in bitcoin in the long term. Bitcoin investors who do this method usually sell their assets every four years, when the bitcoin halving occurs. Because usually when a halving occurs, there tends to be a sizable price increase. If you research the price history of bitcoin, you will surely come across cycles where bitcoin experienced large price increases. I personally even if there is no very urgent interest, I don't like selling bitcoins, even though there is a small profit. So basically I personally too, am investing in bitcoin for the long term, and looking forward to the halving to come.

And my advice to you. If you don't have a very urgent need, I would suggest that you invest in bitcoin for the long term. But if you have a very urgent need, you can sell your bitcoin assets whenever you want, the most important thing is that you sell them when you have a profit.

Self discipline matters a lot during your investment journey, i know it is very hard to see your investments gets to some certain amounts and not taking profits from it. Sometimes you may want to wait for the market to get to some certain high level before taking profits, but initially you didn't specify the form of investment you wanted to make if it was for long term then there is no way you should have want to take profit despite the dip or if your initial intension was for short term you could have taken profits when it was around $31k. There are more to come about the market so you have to endure few months before selling it off, have this in mind that halving is around the corner and you may miss a lot.

I understand your point mate, but what I understand is that " A problem shared is a problems either half solved or fully solved". Therefore me running to here doesn't mean i don't know what action to take but I might go the wrong way thinking i knows the best, it true other people's point of view and reasoning may not be the same as mine. I seen lots of reply here and i think i will have to wait a little more longer to see if there will be a market increase within the week or month.

Congrat to you, it’s nice seeing that you are already in profits, but I went through the link which you attached to the post and people advised you to purchase bitcoin and hold till bull run start, but am surprise you are planning to sell your bitcoin so early, what am seeing currently is not a bull run yet, it will have been better you keep on holding since that was your initial plan.
It’s always advisable if you are planning to hold bitcoin, you should be ready to hold for long term, and you shouldn’t invest any amount you will be needing soon in bitcoin or any amount you can’t afford to lose. Since you are planning to hold before, you shouldn’t be deceived by the little increase in bitcoin price. But since you are in profit already, then the decision is left for you to take either you sell or you keep on holding.

I don't blame you for asking other users for their opinion; it's perfectly understandable that you're interested in knowing what others would do in your or a similar position. However, the profit you're mentioning is extremely petty; is it worth the hassle? Even if you're an avid day trader, the amount of Bitcoin you own is also minimal, which makes it impossible to do so. I'm not remotely sure how much purchasing power these 4,500 Naira provide you with, but if I were you, I'd simply create a budget and stick to acquiring more Bitcoin.

Weigh your options and decide what seems best for you on such occasions; there's no right or wrong answer.

I fully agree that seeking financial advice from strangers or the internet is not the best idea, but I think there is nothing wrong with sharing in this forum so that someone is more confident in making investment decisions and they are taken based on updated data and facts, even though the end abaout decesion maker is in their hands Alone.

Bitcoin is currently in a correction mode, so the price can go either way at any given time, the question that you are asking the community is something that only you should decide. The market is not very high at the moment, but it's not too low as well as in a correction, it can go even lower in the coming days, so it is up to you really.

If you think that you desperately need the money and since your assets are in profit, maybe you should sell them and use the money for your up keep as you said, but if you think you can manage otherwise, I would suggest you should wait for some time.

OP are you trying to trade or are you trying to invest/hold. Since you talk about missing selling at $31k it sounds like you weren't planning on investing/holding bitcoin but rather trading. Unless you need this money for daily life you should just hold it. And really you shouldn't be relying on trading profits to use for daily life because as a stream of income it is inconsistent.

I would suggest you don't bother trying to trade, but just instead hold it long term. That way you grow your wealth long term, don't have to worry about taxes (assuming your country taxes gains in sold cryptocurrencies), don't have to worry about timing the market for trades as seems to be what is concerning you right now, and you can continue accumulating more Bitcoin over time if you have more money to invest.

let's tackle the million-dollar question: hold or cash in? It's a head-scratcher, no doubt. But chill, I'm here to drop some wisdom bombs.

When you're rolling with Bitcoin, remember the golden rule: think long game. Bitcoin's like a rollercoaster on steroids, so trying to nail the timing? Good luck with that, bro.

Still, it's smart to have a strategy locked and loaded. If you're counting on that dough for daily life, snagging some profits might be your jam. But if you're in it for the long haul and can handle the market's mood swings, maybe just hug that Bitcoin tight.

At the end of the day, it's your call. Stay woke, have a game plan, and trust your gut. You'll rock the wild world of Bitcoin like a boss. And hey, if you're ever stumped, just remember the mantra: when in doubt, stack more sats!

Selling bitcoin, it's your choice if you want to hold for long term, you bear the market, or involved in the risks,  It is good you purchase on the bear market and anytime when price goes up to your satisfaction, and you decide to sell it, that is left for you, and if you don't want to sell it all the same. And if you are an investor who wants a good profit out of your investment, it is better to hold for long-term before selling, and With this strategy DCA. If the price is up to your satisfaction sell, but if the price is not up to satisfactions, don't sell, be patient the price will rise again for you to gain more profit.

Firstly, I checked the date of this post to be sure, the advice is still needed. Whoever mentored you hasn't done a good job. You bought the coin not longer than 2 months and you're planning to sell it. Alright, you will be the determinant for you to sell because your definition of profit differs from mine. For me, I hold my coin not lesser than a year before selling it off and by that time I will be getting 80% profit from any coin I sell.

HODL.

Four letters but could really change your life if you become consistent with it. And while holding, DCA. Three letters but also one of the best strategies that can be combined with holding.

You decide.

We've decided already and we're doing it because of how we experienced it in the market. There's no regret on my part.

Well my friend, the N33,000 you invested based on today's dollar/naira conversion rate should be about $44.9 and the N4000 profit you want to cash in is about $5.4, which is not really worth anything. I understand you not wanting to depend on your husband but if I were you I wouldn't allow my emotions to play on me and I would buy more and add to it and hold for the bull season, that's when you're going to make good profit.

Dont be run down or getting affected with your emotion because this would be the main reason on why you would be ending up on selling on loss specially when the market is really on bearish state.
Its true that the price could really eventually get backed up but of course since you do make out some selling point then it would really be testing out your patience because there's no way on telling
on how the price would behave on next days or months to come. Stand still with your goal and accumulating is something that we should be having in mind.
Stick into that goal because it would really pay off later on.

You would definitely regret if you do sell cheap. We are still on a bear market i should say or onto that consolidation part on which bull run is still bound to happen in next years.
Therefore it would really be just that sensible that we should really be that accumulating while its still cheap because if you do make yourself get left behind
then you might be ending up on whining just because you had missed out on buying while its still down.

you may want to consider setting a personal investment strategy that aligns with your goals and risk tolerance. For example, you may want to decide on a target price at which you would be comfortable selling your bitcoin and taking profit, or a stop-loss price at which you would sell to limit your losses.

Ultimately, the decision to hold or take profit is a personal one that depends on your individual circumstances and investment goals.

It comes back to what you really want.
Some heads will clearly have different thoughts, and we know that so what other people say is true may not necessarily be in accordance with our wishes, and vice versa, what we think is correct may not be quite acceptable to other people.
Make your own choice, do you still want to hold it or do you really take advantage of it and hope to go even lower and buy it again at a lower price or do you really hold it by continuing to wait for the desired target.

But when referring to my condition, for now I still continue to hold my assets and it is precisely this small correction that I always do as a reason for additions to make my portfolio fatter.
It's also not wrong to take advantage of it because indeed it is money that you have from the results of your previous detention, so the decision is clearly in your own hands.

It depends on your situation whether to hold or sell it because no one has the right to it except yourself, but for bitcoin investment goals, do you plan for the long term or sell at a certain price, for example $ 30k, is the selling target?
Always the best advice is to hold if you invest in bitcoin but if you sell it is your decision even if you have made a few dollars profit on the initial investment purchase.

That is the market is indeed difficult to predict even if you believe the price of bitcoin can reach $ 40k but the reality is different, when the target is not achieved what is desired is common when there is fear, emotion and panic but if you need money for that need then sell your bitcoins because basic needs are far more important than stressful investing, remember I suggest you invest in cold money so that there is no pressure to mix with your needs.

For example if you want to make a few dollars from bitcoin by buying low selling when the price goes up but it doesn't matter as long as you can do what is your goal to make ends meet.

Maybe you have skipped some of the comments where members suggest OP to hold his coins and invest for long time. You don't need to accuse anyone here, you can always give your suggestions no matter OP got his answer or not.
Always invest for a long time, that is the only suggestion from me. If you can hold your coins for a long time you can make profit.

I guess we're no longer in the bear market but the chance of going and transitioning into bull run is higher.

Well, on this matter, to each their own. If OP or someone out there has made a profit, they can sell anytime they want especially now the price is getting higher.

But for sure that many will feel that there's more to this increase and it won't stop from there.

Well, if you don’t wanna take a risk, simply play it safe and make your strategy simple, it could be by investing fractionally or in parts. In addition to that, it seems that Bitcoin’s correction is just ended,  at this moment the current price is almost $30k and it is expected to see another rise in next few days. As far I am concerned it will probably hit $35k in 1-2 weeks. In fact, maybe this is a precious chance to invest a large money in Bitcoin. If you have an acceptable amount of cash or stable coin, don’t hesitate and to convert them in BTC but as I have mentioned it is preferable to be fractionally due to the market in unpredictable and volatile.

If taking advantage is the issue, then it is definitely relative, in my opinion. Because while each bitcoin investor has a different goal in mind when making their investment, at their core, all investors want to earn. However, in my view, there are two methods to benefit from bitcoin investments. The first method entails making a brief investment in bitcoin. When using this strategy, most bitcoin investors usually sell their holdings when there is a profit, even if the profit is modest. The second option is to make long-term investments in bitcoin. Those who use this approach to invest in bitcoin often sell their holdings every four years, when the price of one bitcoin is halved. Because a halving typically results in a significant price increase. There have undoubtedly been cycles in bitcoin's price history where there have been significant price gains. especially though there is a modest profit, I personally don't like selling bitcoins, especially if there isn't much immediate demand. In essence, I am investing in bitcoin for the long run and eagerly anticipating the impending price halving.

Your decision is undoubtedly a very good one. It is always best to try something on your own. One should never be dependent on others. You can sell your investment if you think I will buy bitcoins as a short-term investment and sell at a profit. Also if you are investing for long term then you keep your investment no need to take any decision here. But from my point of view it is best for you to invest in short term. A few days ago when the market was at 31 thousand dollars, you had a fairly good profit, if you had sold it, now you could have bought it again and made the same profit again. That's why I suggest you to invest short term rather than your long term investment as you can earn more.

If you already have those bitcoins, I suggest you buy them again while the price is still low and keep them for a while. Don't sell it when the price is low because your profit is not big.

You have to be patient for a while especially since the current market situation is still in a state of correction so we all have to keep holding bitcoins. But that's just a suggestion because if you want to sell the bitcoins now, that's up to you.

And as long as you don't have an urgent need that must be met immediately because you don't have much money, you can just sell the bitcoins to meet that need. Each person has their reasons for holding their bitcoins and you are free to want to keep holding or selling them and take the profits.

Advising you on how to utilize your coins is a horrible idea since I believe you have a plan for these coins since the day you bought them, and it is up to you to decide whether to spend the coins or remain hoarding them. But, if you recognize that you need money to meet your needs, as you stated, why should you bother getting advice from others? You are the one who suggests that you either postpone your maintenance or continue hodling. Or you can use your coin to address a necessary necessity, I believe.

it's better to buy at the bigger dips and hold, wait until it pumps up again this might work if you're thinking for long term investments but if you're after in short or you buy at the high price then it dumps and try to sell then because you're afraid that it's a loss then probably it's a dumbass idea. if you're planning investing in short term then you should be prepared about the outcomes since it's risky and you should invest what you can afford to lose.

But if you read carefully what the OP said, she needs money to raise her children, and it is an urgent need, so it is up to her to hold or sell. I still prioritize parenting, and if she doesn't have a solution to that problem selling bitcoin is the right thing to do. I know she is very strong because she does not want to depend on her husband. But do not invest with money to raise children because bitcoin is not an easy and quick place to make money.

Yesterday there was a drop as you said. So it is a good time to buy bitcoins. I suggest not waiting for the price to pump up because the profit isn't big yet and you should keep holding the bitcoins until they touch the last ATH price. That would give him a huge advantage.

I just want to say that if you're going to make money from bitcoin, you need to hold it longer, with what you share, you have only invested in bitcoin for less than 3 months, so it is very difficult to expect a profit. But if you need money for emergency work, then selling bitcoin is also a good thing to do and not regret it because you can reinvest it later when you have the money.

The sum isn't very big, at least in my understanding. So, in such a case, I would treat it more as an experiment or a starting point (to invest more in the future), and thus wouldn't bother selling right now. But that's not financial advice, as the op should do their own research, think about the context and priorities. If you're ready to wait for years, perhaps it's better to wait. If you might need the money in summer or autumn, there's of course a risk that Bitcoin will fall once again. Another approach could be to sell occasionally small bits of profit that's being made, but if the total is a bit over $50, I don't think selling the bits will be an easy or reasonable task.

You should make your decisions based on your goals. No one here is going to make it for you. Some persons who are margin holders will support you to hold, while some others will not.
My advice to you if I were in your shoes will be to take profit and invest it in a side hustle that will generate you a passive income or better still, solve your existing needs because if body and soul is not together the mind can function well.

Yes, of course, it's in our discretion what we do in our coin because in the first place, that is our coin.

Now if the OP chose to sell it then we can't really blame her because she has her own reasons and needs as a young mother who probably got an infant to feed at this point. As she mentioned, she might have already regretted that she's still holding it until now as there are some risks that the price will fall in the next few weeks.

But looking at the market right now, the price has increased 11 percent since last month and this might be an early sign that the bull is coming. Although, there's still no guarantee about it as what we can only do is to speculate to about it.

It all depends on you and what you want because some of us, that amount of profits can not be considered as a good ground to take off the profits, but then if you need the amount to sort bills and you really on that investment for your bill payment it then means you are left with no choice than to take the profits at this point because, from my understanding of your condition, your sole aim is to make bitcoin an alternative source of income to support your family.
So that amount of profits may be ok for for a short term speculator like you ops.

Madam, 33k NGN is approximately $70-$75, correct? Your decision to invest it in Bitcoin is deserving of appreciation. However, if your goal is to use Bitcoin as a daily source of income to meet your needs, it's challenging but achievable by becoming a daily trader. You must study market trends and possess strong analysis skills to determine the appropriate timing for entering the market each day. Set your daily targets without being influenced by greed, to maintain discipline while trading.

If you decide to become a daily trader, you can use the profits you have just earned to purchase food. But if you want to enjoy life as a long-term investor, then hold onto your investment and withdraw the money only in times of emergency.

Hopefully, your husband will soon find a good job that can provide more financial support for your family.

If you plan to get more profit out of your investment then all I can say is hodl.  Bitcoin will possibly surge higher after the Bitcoin halving event, the price history of Bitcoin can attest to that.


First, it is the responsibility of your husband to give you money for the family budget.  But if you don't want to bother your husband then it is reasonable to sell your BTC if you need more fund.  Or you can look for a side job that can be an alternative additional source of fund to keep you from selling your BTC.

Okay, I understand sir but I don't really say he doesn't give me(us) money. We do have our monthly allocation for food and expenses as you must know there are lots of loads and lots of things man being the father of the house do think and whenever you tried calling back on them after the monthly allocation is like extra billing to them and i don't want to be dependent rather an independent wife putting my little money over here (bitcoin) to see what i could be able to generates from bitcoin. I know how I felt for him couple with the kind of country we are from it's very hard to cope, if you are married and have kids you should have understand what I meant by that mate!

I can see you bought Bitcoin through Binance P2P trading. My advice is
Don't sell not because of the coming rally market another piece of advice is that could find an alternative to buy BTC rather than using your local currency whose black market price is always higher and won't provide you the best profit chance.

It’s not easy to raise a family in a third world country where the minimum wage cannot afford you the basic things you need to survive. I understand your predicament, it’s commendable that you have been to accumulate some bitcoins to your portfolio but do not expect huge profits in such a short time. The bitcoin market is unpredictable and is volatile, we can speculate the price we expect bitcoin to reach but we can’t know for sure when that’s going to happen, you will have to hodl for at least six months to a year to see green results.

Currently I have changed my narratives of selling out my little bitcoin I hold, I think will have to manage the situation at hand lemme see the end of the investment.


Thank you
I understand how its, that was why I just decided to readjust my mindset toward this little fraction of bitcoin I hold. Meaning I am willing to wait till next year to also witness the halving I have been hearing all this while ::).

Good decision.

But then soon, you don't have to be influenced by anyone on what you should do with your investments like your bitcoin holdings. It's best for you to decide for yourself and have it not relied on other people because they think that they know better than you.

Still, that's a good thinking that you'll hold what you currently have. As much as I want to follow what I'm saying, since we're already here, if you happen to have some spare money do not forget to DCA.

Depends on your satisfactory. If you are already okay with your profit then it would be fine selling at this point but if you want more, then learn how to endure market price downfalls. There are even speculations that the market price would fall down til $24k and even $12k. Although those are just assumptions but just what if the market price actually fall that low? Would you be able to endure and be positive about it? 'coz if not that's the answer already. On the other hand, you may take profit for now and wait for a lower market price to enter again but eitherway would require patience as an investor. At the end of the day, our decisions with our investments are in our hands; we have full control of it.

I Have Seen My Friends Who Involved With Crypto Currency Bitcoin Before Me And I Have Seen He Many Times Little Loss And He Have Enough Patience Because He Know As Well Bitcoin Can Change My Life And Tightly Holding My Friends All Crypto Finds And Finally 2021 My FRIENDS Achieved Her Dreams From Little Investment Bitcoin Becoming Something Big.

If you don't sell at $31,000, it doesn't necessarily follow that bitcoin won't ever reach that level or higher. With a little patience, you can watch the price of bitcoin rise once more. At this time, the price of one bitcoin is $29k.

You made a small profit after investing the smallest amount you could afford to lose. Imagine the additional gains you would have received if you had invested more money and steadily accumulated bitcoin fractions as their price fell.

Having said that, do your best to focus on the upcoming bull run rather than the future bitcoin price, which worries you.

I think you should not withdraw your profits from Bitcoin right now.And you should wait a bit to go between $35k and $40k .Because it is more likely that Bitcoin can touch the figure of $40k soon.And maybe from there Bitcoin will come back below $30k.And the more likely experts are estimating it could be between $20k and $25k again.Selling bitcoins at this point may deprive you of further profits.Because Bitcoin is such a cryptocurrency that you shouldn't have any problems if you hold it with you.Bitcoin is the only cryptocurrency with the lowest risk of capital loss.In the rest of the crypto currency market if you get profit  you should exit the market immediately.Because other cryptocurrencies are not sure what will happen to them tomorrow.But Bitcoin should never be sold at a small profit because it is a cryptocurrency that can be fully trusted to give you a good profit in the future.In the past, those who held Bitcoin enjoyed a handsome return.I am currently in profit in Bitcoin myself but will take profit when Bitcoin crosses $35k.Because I'm thinking, if I sell bitcoin now and it goes up, I'm going to lose a nice profit, but if it goes down from here,So I'll put it on hold and it'll come back up soon.

It's good to see you've made a final decision on your investment. I hope you hold on to it until the halving happens, or maybe more for more better returns. Since bitcoin won't hit a new ATH immediately after the halving, the bulls will only come in 1 year, which means you'll have to wait longer than a year if you want to sell bitcoin at the new ATH.

Another thing about raising children is the responsibility and obligation of both. I think you should talk to your husband about child support, it's the responsibility of both of you, not just you.

I agree, I had the same thing with my family as well, I held as long as I could and when there was a hospital bill to be paid, I sold all my coins without thinking twice about it because that's how you do it. I personally agree that it is not going to be easy to find a solution to it considering all the trouble we had, but that doesn't mean that we should be avoiding it anyway neither.

I hope that it gets to a point where it will be much better for all of us and we won't need to cash it out. But, if we ever need to cash it out for our family then there is no discussion for me, I will just sell all of it. There are priorities in life and family is much more important than getting rich, sure they would benefit if you get rich, but no reason to put them in poverty until you do.

Glad you changed the idea of selling your holding now and I will advise you to sell some months after the Bitcoin block halving is executed that's during the new ATH price and that's if you're not planning to hold for the long term.
Meanwhile, never forget that it's not advisable to keep your crypto on an exchange for the long term.

Another thing is the opportunity to invest in bitcoin is always there, if you can't invest now, when you have money you can invest later, it's never too late to invest. Getting rich is a long road, it's a process, and we can't build it in a few days, so we have plenty of opportunities to do it. I also think like you, children and family should always come first, children should not go hungry just because we are saving trying to build a portfolio.

The idea of "too late to make an investment" is a myth because there is always a perfect opportunity to make an investment in this type of market, all you need to do is to have courage, confidence, patience, discpline and also capital to start making investment. Even though there are now a lot of coins that became expensive, for me there is still plenty of opportunities that you can ride and make huge amount of gains if you will just train your mind to see those opportunities.

People who says that it is already too late to make an investment, is the people who do not know how to see opportunities. They didn't train their mind to see those perfect time to purchase bitcoin and other asset. In order to train our mind, you should take note that it requires hard work and consistency. You cannot become great investor if you just study 1-3 days, you need a lot of time and for me it requires months of even years just to have the knowledge you must have in order to make gains consistently.

We also have to admit that the earlier an investment is made, the higher the chance of a return, but that does not mean that the later investment will not receive a good return. There were many people who entered the market much earlier than us, but they left the market when the bear season arrived. But if we entered after them and have confidence in the market, we keep holding despite the market crash, then I believe our profits are second to none.
My investment motto is: It doesn't matter whether you enter the market sooner or later, what matters is how long you will stick with it.

You are right, I think it is impossible to make profits as it is extremely difficult to know how much or what will you earn, to think this is an opportunity to increase your chances at making a profit and gain profits, while at the same time you are asking the question whether you should hold or take money, the answer would be, it's possible you can win when you have bought, but you aren't sure at all how much your chances will be in the next month or two, if this happens it is impossible. 
 
You need to have a lot of knowledge in the first place to start making decisions that can help you, because the more you learn, the more you need for the market.

From your explanation on the bitcoins you bought and the profit it has gained, I can see that you invested the money you can not afford to loose though the market is currently in your favour. Since the market is unpredictable, let me give likely occurrence in respect to what you should expect base on whatever desicion you take.
Your emotions is still very much in place as touching this matter, so listen to what could happen and what your emotion could also lead to.

If you sell now , it a good idea since you have somethings to care for however, you may regret it if there is a bull run thereafter

If you hold for sometimes, it's also good decision , however there maybe a bear market, which may lead to another regret of holding , you will have a regret of loosing profit and amount invested and that of not taking care of your needs.

Base on this analysis here, think about your next line of action considering what is most important to you and the risk you can bear.


After your desicion on this investment, I will advice you to invest with money that is not your last resort and the one you can afford to loose then set your targets.

Best advice to you: make your own decision. The amount that you invested is not so big, I think that it makes sense to continue to increase it, and when you realize that you have received the profit you wanted, in this case, you can withdraw funds. For now, it's more like a lottery for you than an investment.