Bitcoin Forum

Good morning my fellow Naija people in the local board, I brought this topic to encourage our Naija local board bitcoiners not to spend all their profits they made from this bull run because, I know that many people have started selling their BTC to increase their wealth. I know that many people will start using the profits they made from this bull run to do other things and forget to save money to buy BTC when the bear market occur again, and it will be a good thing, if you can spend and still remain some money to invest in BTC when the bear market come. I know that is not easy to save money in this high inflation, but spend and save some money that you will invest in BTC in the future no matter the situation you are facing right now.

I know there are some people that depend on their signature campaign only, which is not a good idea because, anything can happen that will make you not to get the opportunity to work in the signature campaign but if you invest some money on BTC, I believe you will have hope of winning something big from BTC when the bull run occur.  What is your opinion.

Brother, no be lie you dy talk, some people wey no too get knowledge about Bitcoin believe say na the bull run we dy expect don dy play out so, but Dem no know say the real bull run after the having never even start, but some people don dy cash out sha, but as for me, I no go sell now because the bull run I dy expect never come, I believe say bull run go surpass 100k, so I go still wait, if I don dy wait since, na now wey things don dy fall into places nail I go come sell? Never.

So I would advice make no body sell now oo, because the bull run we dy expect never even come, this one na just warming up e dy do, and lastly, no forget to  continue ur Bitcoin accumulation through the DCA method oo, after the halving, na that time we go experience wetin Dem dy call bull run after some months after.

It's now a common advise to bitcoiners to always have an additional source of income to over come what ever that might happen, along the way in this bull run.

it also very much good to always save but not only in fiat but you can save in some stable coin if you have gotten to you desire target during the bull run because every day the fiat keeps depreciating even with the governments effort to appreciate the national fiat but yet is keeps fall, so since we haven't seen the pick of the bull run we should keep holding and expect the best of its all.

additionally, don't forget to always use a non custodial wallet and/or self custodial wallet to store your coins.

This na better suggestions, it is not bad taking profits at this time because nobody don ever lose by taking profits before but the biggest regret na taking profit at 4x and the thing later do 10x. Right now I will only advice those taking profits to try and diversify their portfolio and this doesn’t mean it should be only cryptocurrency. Enough profits can be a good capital for a physical business. Having a physical business doesn’t only gives you a second source of income but also gives you the chance to hodl your cryptocurrency portfolio for a long term.

If you have used money you cannot afford to lose to invested in bitcoin, my advice is it’s time to take profit and settle the situation. Bitcoin is a good ROI but it is a volatile asset that can’t be fully rely on.

That's true mate , e no dey easy to actually save money for this inflation but it's actually a necessity so it needs to be done, there are so many people that have forgotten that the Bitcoin Market isn't only About the bull but also there is the bear market too and that is surely to come when the bull has passed and many that may have squandered their coins will definitely regret the action when that time comes. In times of selling we should think of the bear market too.

A good long term investment plan is expected to be from 5 to 10 years or more but on the quest of selling too early I will advice you not to sell all at once to enable you not to miss out of market in situation where the market is making an upward trends for too long and  it couldn't get to the expected price you will want to by back which will make you end up not having Bitcoin in your Portfolio. Selling your investment when it has mature is more profitable than selling too early.

Thanks for your kindy advice mate but normally you suppose know say we Dey save money make money fit safe us and I no sure say saving Dey easy for this kind high inflation rate in the country and you suppose know say most persons Dey live from hand to mouth and e no really Dey easy for anybody this period and I no Dey blame anybody wey no Dey save because na who don chop and suppose save because you no go expect person wey never chop come dey save as that no be any wise decision as you fit go die make next of kin squander wetin you don Labour for.

A lot of people Dey get this concept of holding very wrong and I no want talk make I no go trigger a whole lot of arguments but personally I no Dey let greed hold me down as I Dey very ok withdrawing my coin when lever I feel ok with the profits and swap it to a stable coin

I am on the campaign that dollar is going to crash drastically because the federal government is about to take a step to reduce cost of living and to reduce dollar is on the target and once dollar is decreased then it will affect all the bitcoiners in the forum so what I am about to say is that if you know you have coin in your wallet make sell some now because if you no sell am and dollar reduce in value na you lose. So make you think well and take a good step to calculate the next step to take. Dollar is about to go down.

You have just made a clear illustration of a good investor and a good financial councillor. It is important to always take investment serious, because investment is the only key to securing a great future. It might sound so funny to some but it is actualy the truth of the matter. In the aspect of campaign money I also talked about it in my one of my thread but somebody said I am making a useless post. I don't see where advise becomes a curse. In all, Those who will invest will invest and those that will not invest will also not invest. And history will repeat itself and more people will said how I wished I invested earlier.

 My guy nah beta yarn you drop for here but make you understand say them no dey tell person on these kind of things for this hard times. Yes, e dey very hard to save for this period especially as now wey price don triple for market, instead of you to see value for wetin you buy since you waste that huge amount, instead the quality and quantity dey reduce.
E no wise to disregard the importance of savings because nah wetin you go take hold your side when things red since nah who fail to plan dey plan to fail and if you carry am for mind say because you dey do trading, everywhere soft, make you know say at the drop of a hat tins fit turn sour.

My guy, nah the hope of every naija man be that but e go good make we accept reality and understand say this our present government no get the akpakara to bring such a thing to pass. We dey see how things dey increase everyday and instead of the govt to look within and sort out the problem, nah to attack BDC operators them see to do.

The worst thing that can happen to a man is to have a singular source of income there is absolutely no way u can meet up ur demands so one needs to have multiple sources of income

Are you sure that this new administration have something meaningful to solve in this hardship in the country and, what are the plans for you to know that they are working to reduce the cost of living in the country, I will advise you to face your BTC investment and create a good time for your signature campaign so that you can start saving some money that will increase your earning in the future.

Many hodlers have taken a good step when the price hit $60k and some have saved some money against the next bear season so that they will have the opportunity to invest again without blaming the inflation in the land.

The advice is good, though is very unwise to ignore your source of income because of the small profit you have make for a moment because any money or income person get without reinvestment will still run you into poverty.
As an investor even before you sell your Bitcoin on the bull run plans on how to spend and revest show be there already, though different people with their strategy, because the money have so many influence and so demanding one must have good plan in order not to lose guide.

This is a big problem for many Nigerians Bitcoiners. The economic condition of the country is making people unable to HODL and that is a big problem. People are more than desperate even for food which use to be the easiest thing to get as a Nigerian. The cost of feeding have tripled and every other thing has increased in price including transportation. Now the latest crackdown on users of Bitcoin is further adding frustration to the youths who already have many problems to deal with. A friend of mine who is a government employee told me that he suspects there is a deliberate step by the government to impoverish the youths that is why they are going after every area through which the youths are making money.

Despite the excuses why some people are struggling to HODL, the only way out of the current hardship ravaging the country is actually to HODL. Spending all earned or acquired Bitcoin is never the best thing to do because it can make someone miss the bull run.

A very good advice and a reminder that bitcoin price does not always go one side. Now we are experiencing green days in the market. The red candles will set in at one point or the other. When the red candles return we need to reserve our purchasing power that we got during the boom market. A farmer who eats all his crops during the harvest season, will have nothing to plant during the farming season. And if a farmer don't cultivate, he will have nothing to harvest. So let's make it a habbit to always reserve money to buy back bitcoin whenever the opportunity returns.

It's an even better advice for us not to sell any of our bitcoin if we are not well ready for a situation where by when we sell the price of bitcoin keeps on getting higher and you can't buy back and you end up regretting, so it's a better advice to sell in portions so just in case you are selling at the wrong time you would still have some bitcoin.

The truth is you can't time the market at all and no one knows what to expect from this new cycle it could be that bitcoin has well left the days of 25k-30k and waiting for such price even in the upcoming bear Market might never happen, it's better you sell a little and take profits than selling all expecting the price to drop, who can tell if bitcoin would chose to remain at 60k and reach new prices of 150k and even when the bear comes 60k now becomes the lowest dip of the new cycle.

So it's better to sell portion than all, so you don't find yourself in a mess.

Wetin u dey tock na through because the wey we dey see things now anything can happen at any given time,so as a Bitcoiners that we are we really need to be alert at all time so that we can be able to over come anything that we comes out,so let us know that the wey the(FG)is planning very soon price of some many things we reduce and once price of things start reducing dollar it self we also start to be decreasing.

You no lie, my brother. Investing in bitcoin na better thing wey we suppose do e no go make sense say we deh earn in bitcoin but we no fit invest in bitcoin. But you see where you talk say e no make sense to depend on signature campaign money. I believe with that place but wetin just they be say bah, the way the country they go now. E no go make sense say person never chop belle food you go con they invest money for bitcoin, you know say e no fit work na. But some people they wey fit do am Sha but in my own opinion chop well before you invest, if not even if you invest and if you need money you go commot am again.

Instead of selling all with the mindset to save using fiat I no really support that idea cause the way things be now you fit keep money to take do something but you might end up doing something else with the money so instead of holding the money in the bank why not sell some percent and save the rest in your wallet as na the same bitcoin you go still buy, secondly wanting more is not a bad idea so you can buy something valuable like land with the money or you research for something better to buy so when the time reach for the bear market you can sell to accumulate and definitely profit go come out instead of saving with fiat that has zero value

That one no be bad idea oo, because so many go find am hard for this bull market season as dem go dey confuse on the time to sell and aslo how to sell and by "how" I mean exactly watin the OP dey talk about. E go better say people actually look into this plan of yours because land na asset wey get add value overtime and I fit even talk say him own value increase dey faster than Bitcoin own that's if you calculate and reason am well. E no go bad to sell some of your coins or even all sef for the price wey you wan plan to sell then use the money buy land so that when the bear market comes you fit buy back in low amount so that your Bitcoin value go increase like watin that famous thread wey dey for speculation dey preach @ ""BUY THE DIP AND HODL""

OP, you nailed it all, people feel that this is the time to spend all there profit and forgetting to reinvest in the system that gave them the profit, it is important as a business man to know that if you do any business and get profit as the case may be, you will have to reinvest at least a particular portion of such funds so that you can also benefit again if the needful happens, the way bitcoin is rising now some people never expected it, sincerely there people who has done other business and profited in it but refused to reinvest because they feel comfortable that they have made a profit not knowing that the future price might surpass the present price that's why it is advisable to financially minded when taking financial decision.

The sole aim of an investor in any investment, that is being profitable it is to remain in that investment especially when they know their is more to benefit from in the future.They can take profits, but will not forget remain or continue with their investment. Bitcoin have been profitable to those who invested in it, it's a good advice not to spend or withdraw all your profit or benefits as bitcoiner's. The situation and circumstances in  the country is not friendly but try as much as possible to maintain your investment in bitcoin which you have profited and stand to profit more in bitcoin. After the bullish season the bearish season will arise which is perfect time to buy more bitcoin, it will be that some funds are set aside to buy bitcoin when the bearish season comes.

The signature campaigns has provided opportunities over time but being dependent on signature campaigns earnings alone is not good and there are times which signature campaigns will not be available. So it's a good idea to Chanel some of earrings from signature campaigns to buy bitcoin, since there are ways one can schedule regular bitcoin investment by starting with an amount that fits your budget comfortably to invest in bitcoin. If one can do that with some percentage from their earnings on signature campaigns with time they will profit as we know the potentials Bitcoin Caries.

Me il suggest that if you dont need the money yet, do not take any profits. The bull run is not over yet, and there are more profits to be taken, so ill suggest we keep our investment intact, expecting a better profit by the end of the year. Its better to take maximum profit, but taking little profit during this period is not what i would like. Patience is the key.

Spending all your investment ones nor b wise move at all, even though you go buy again lateron e nor still nice. For instance you buy certain quantity of bitcoin for the price range of $25k . Then you con dey run DCA like norms, then you later sold everything at this recent price range. the moment you selling all your investment the probability of you buying at that same price is pretty  low . Either you buy for price wey dey more expensive or endup missing a big life changing opportunity when waiting for the price to dip to a certain amount, but at the end he nor dip.

As you dun get sharp quantity of bitcoin for your wallet already, and you feel like taking profit from it there's nothing wrong with that but still withdrawing all your investment is not just right all . You can scrape some profit from your investment without withdrawing and same time securing your position of your early Investing.

Because of the the amount that the price of bitcoin has gotten to  se people thinks the amount of Bitcoin they have been hodling is enough.  The bull market is just beginning and this is not a time to give up in hodling or to spend all your money. More profit can still be gotten from bitcoin when you hodl. This opportunity of the bull season should be used very well.

The dip is still far and probably it will start in 2026. So selling all the bitcoins they have now and preparing for the dip again is just a waste of time. And if I will advise they should start selling them in the time when bitcoin has reached the All Time High and the All Time High will be $70+k because the last time All Time High was $69+k. So once the price reached then we can start selling bit by bit. Because at that time to enter into the dip is not far again. So we should not sell our hodling for now. Although the devaluation of the dollar might affect the hodling here in Nigeria but still Hodle and start selling in the All Time High and I have shown you the All Time High that coming in the market.

I think you have a good point, because how federal government dey do this days dollar fit decrease very well and he can affect us how dey put binance eyes like this I hear say federal government say na Binance dey make dollar dey increase price that is why dey on bad am, na good idea to know sell all your coin because of the bull run, I know some people Don't like selling there bitcoin so easily expect they have emergency that dey don't have choice they need to sell it and solve there issues.

I use to leave my coin for long term If he reach my target then I sold it and buy another one with the profits I get, and now that bull run Is coming anyone need to buy bitcoin and keep even is small because this hardships no easy to keep money now anyone is looking for a way to be generating money fast, dey can't stay for long term because of hunger the country are in serious issues but you just need to try and get small money and invest in bitcoin to get huge profit soon when the bull run occurs.