Bitcoin Forum

Just a question to ask for advice. Right now with all the markets they way they are. Bitcoin is always in the upward in the market.  Of course it has periods of going down. But crypto market is doing quite well in these times.

I am asking what is the best course of action?

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?

Need suggestions and advice. thanks

How long do you want to keep it for yourself? Are you aiming for a long term hold or you just want to ride the wave and will eventually sell. Determine yourself if you have plans for a lifetime and you can hold for about more than 1-2 years or more.

I've said lifetime but it doesn't mean that you shall hold forever. It includes you selling at the best prices ever if we reach all-time highs again. Do you trade and you are ok riding the daily volatility? it's all gonna depend on you.

You shouldn't take any of this advice from someone who's not a financial advisor or well versed in finance.  To truly answer your question we'd have to know your entire financial situation.  Without knowing that, could lead to making some very costly mistakes.  You need to make sure your entire financial portfolio is established and that you're on track to your retirement goals ( assuming you've yet to retire).  Can you afford to buy more? That's the main question to be asking to start off.

It depends on you on how you do deal with it as long you do make profits then thats the thing matter most.How long you do plan on keep holding? If you do talk about future years to come then buying
continously no matter what the price is will be not really an issue but if you do plan to sell off on a short span or duration then its always better to trade actively
and wait up for the right price position.

Cryptocurrency might not really been affected much on economic crisis thats happening due to pandemic but we cant really say that this market do always tend to go up.
Of course a healthy market will really have ups and downs and that what makes money for people who do trade up.

In my opinion, You're in the best position to make such decisions. There's only 2 ways this could go:
1. You don't sell to stable coins (USDT et all) and Bitcoin price drops, you leave money on the table by not selling the high and rebuying the dip.
2. You sell to USDT and Bitcoin continues the ride without you on the train.

---

I've been there. Trust me, You can either take advantage or not. There's a risk attached to any side of the market you take. Making decisions is one of the things you have to do as a trader.

Trading requires knowledge of technical analysis to be done profitably as one would need to be able to read market movements and predict the next price movements. It also comes with its fair share of risks

Long term investments require less skill, more trust in the fundamentals and lots of the patience.
The choice of which is preferable is dependent on you and your abilities.

The market may be somewhat bullish, but Bitcoin is never really in upward movement. There is always volatility including drops in price.

The best option seems to be buying and hodl when it reaches the top by not getting too greedy every take profit is the best thing. We have entered the bull market where Bitcoin and the Altcoin Segelitir rises. And a chance to ping pong or hold it to get a little more profit.

It depends from how you understand and what strategy you have in pointing your decision.

You need to check and balance every entries and exit that
you'll going to take, it's always have the risk but once you
made the right position, for sure you'll gain good benefits
from this business.

You can hold but buying is not advisable at this time, it's not an opportunity to buy now, but to sell, however, if you don't have enough to sell, maybe you can buy if you really into long term investment as we never know what would happen, price could go down unexpectedly.


If you have funds for long term and short term, betting try to trade as well, actually if you do better in trading, you can easily grow your money, so both I recommended and trading can be both applied in this situation.

That decision is to be determined by him, is he here for long term or short term?
Either way, he should know the basic rule of trading -buy low, sell high.
Just keeping this simple rule at all times when he's in trading will give him profit, whether small or big.
So in my opinion, whether he will practice this trading rule in short term or long term, he should not be in the losing side.

Noone knows how Bitcoin price will be but i can assure you "trading is back and forth to stable coins" is one way to disaster.
So many people lost most of their BTC because they tried that, switching their BTC to altcoin and back, loosing 70% of their BTC in the end.
Bitcoin is a thing, not single coin after it is worth much.
Bitcoin price is good now same as gold. Its store of value for difficult times like now.

Of the best course right now, is to buy and HODL rather than sell prematurely your coins that might even a higher price, its better to wait and see how much the price may surge.
Because if you continue to buy and sell, you'll lose more than you gain due to the price get much expensive and selling it for cheap is definitely a bad trade.

It is all up to you. You should follow your own instinct. If you think it is better to hold or better to convert it into stable coins, whatever you decide to do, at the end of the day it is your own bitcoin. We can give you advice but since all of us here have different point of views, our comments will just lead you into confusions.

Follow what you think is right. Do not fall for this market upward movements, anytime soon it will bounce down. And havent we are aiming for the profit as our goal? Being greedy  is not good.

If you do this, you should learn how to trade, learn some basics of trading, technical analysis or fundamental analysis.
Much better if you learn the technical one, learning the basics of the chart, candlesticks, different indicators in chart or some bullish/bearish pattern within the charts.
For me, if you will do this, the risk is there but you can also gain more profits here. But if you HODL, the risk is much minimal.

I would NEVER hold or trade any stable coins.  Most (if not all) stable coins at this time are scams.

Listen dude, no one ever knows what will happen in future.
The only thing we can do now is just to calculate and estimate.
And as far the price of the Bitcoin is concerned, then it depends on us.
Bitcoin follows the rule for Supply and Demand.
So if the demand is high then supply will be less, for which price will be high, and if the demand is low then the price will also fall.
If you want my opinion, then you should just Keep your Bitcoins and store it for future, i bet it will surely rise and give you profit.

if you hold bitcoin, you have a chance to multiply your bitcoin by trading with several altcoins that follow the bitcoin price, there are some of the top altcoins that are really good to invest in, I can't pick them for you but you can find out more about the altcoin project. what you want to invest, as usual that every time a bitcoin halving occurs there will be an increase in the next year, so don't miss it

both of these are viable options and which one to choose depends on you, your strategy, your risk taking and most importantly your experience in the market.

for example i personally don't like day trading bitcoin, but i usually trade it during times when the market is most predictable and there is a big move going on. i also do that with a small portion of what i have.
but i focus a lot on day trading altcoins because they are created only for pump and dump it makes them good for short term trading specially when bitcoin price is moderately stable otherwise when bitcoin is rising they get dumped so i stay away.

This is just my couple of Sats so take it with a grain of salt.

I think Bitcoin at almost $12,000 is not a buying price unless you intend to HODL it indefinitely until the price will go way far higher than that. If you are aiming for the shorter term, it is my hunch that the price will still go even lower than 5 digits in the weeks or months to come and so you better wait for the solid red days.

I admit I am using USDT to trade with BTC during large swings. That is to minimize possible losses when trading with altcoins. This is what I do but don't take this as my suggestion or advice. A lot of people discourage others to even consider trading stablecoins especially USDT.

Very simple rule yet hard to maintain because if he will depend on his emotion, that very plain and simple rule won't be followed. I have struggled to follow that buy low, sell high golden rule when I'm kind of new on it.

How can he determine the losing side? through experience. He needs to furnish it and have to learn the basics and also accept the possible losses that he will incur with his strategic planning.

It depends on how good you are at trading. If you haven't done any before, then try trading with small amounts and see if you can make more profit than loss.
One compromise strategy is to generally hold, but then whenever there is a huge and obvious market downturn, sell everything and buy back in at a lower point... so you are trading infrequently, but over the long term still make a considerable profit.

forget about trading. just keep your bitcoins and cash out the next year or when price increases significantly and then buy back when prices dumps. always remember Buffett words "you should be fearful when others are greedy and be greedy when others are fearful". set your target and cash out when prices goes up and up but it is alreadyvery high. don't be greedy waiting for the peak. that's it.

Why not do both? Why always do choices when both is doable? In my opinion, daytrading is also a good thing because they are missing out with some of the profits that they can make, you can use the earned profit to fund what you are planning to hold. It is not always a bad thing to join the crowd, try to blend in and do more things than the normal, sometimes a little widening of perspective goes a long way.

Seriously?

When it comes to money, you should make your own mistakes.

Asking that question tells me you don't have the right mindset.

Nobody knows what the best course of action is. You'd better educated yourself and make a decision.

Hello ,

I do think you should sell a part of Bitcoins , this way you can save some of it for the future and even earn a little profit right now .

See it would be really hard to follow anything right now , therefore you should calm down , look at your expenses , see if you can afford any upcoming loss.

Because when the market goes up , there are fair chances that it will fall down really fast too . Therefore I do think you might have to follow through the news every now and then .

If you do need money right now , you should definitely incash. But at the end of the day no one can tell you what to do. Best of luck for the future.

First of all, you need to choose to become a trader or investor. If you just focus on investor especially long term investor you may just need to depend fundamental analyst. Reading news everyday so as you will have a choice to keep hold your coin and sell them because the price will go down.

But if you choose to be a trader maybe you need to combine between fundamental analyst and technical analyst, based on that your money will slightly save. But I myself will suggest you to become a trader, so as you will know the price action everyday.

What is your plan though?

I think before you ask us you should have a plan first since you can't just put your money blindly without any strat, right? Like if it reaches a certain price you will sell, something like that. Right now it is best if you can sell of them to get some profit you can use to reinvest if ever the price fell. You can also invest them into altcoins with a good possibility of giving you a profit.

Your experience is enough to help the question. The sentiment is bullish and thats all we have been waiting for since December 201 when we got the low, there is also a cycle into the bull that we are getting close to, if he had waited this long he should wait further. In the bull market trading back and forth is the worst strategy

I would advice against trading, because this isn't something a beginner can do well. It requires a ton of experience and some knowledge, and I even may say talent to trade successfully and make profit. An amateur trader would likely lose money, and with how volatile Bitcoin is, it can be really easy to lose a huge portion of your stash. There's a subreddit called wallstreetbets, where mostly self-taught traders discuss their experience, and there's so many stories of people losing their savings or just huge amounts of money from trading stocks. Don't be like them, just hodl, it's already enough to get big returns if things will go well.

HODL and trading Bitcoin are two good ways to get profit, but especially for trading if you are an expert, trading will be more profitable.
But the greater the potential profit that can be generated, the greater the risk

It's all up to you, but choose according to your own abilities :)

You will need to define what you mean by a rainy day. The reason why many people lose in trading is that they do not set a target, have unrealistic targets, or are swayed to changing target due to their future expectations. If you are planning to hold for a long time, the past and present price you bought your bitcoin and how long you have been holding will determine your action. To cut the story short, you are the right person to determine what to do at this moment because no one knows your budget, monthly expenses, and expenditure but do not let the current drag you to making wrong decision because nothing last forever   

A good market condition like now is indeed difficult to make the best decision. And I think everyone should be brave
make decisions without being influenced by the opinions of others. Now our analytical skills as traders are tested, myself
have confidence that Bitcoin will continue to rise and return to all time high prices. So I will continue to buy bitcoin and
hodl until Bitcoin reaches a price of $ 20,000. Please don't be influenced by the actions I take, because the risks are quite large.

You can get burned in this market if you are new in trading crypto and start trading in BTC/USDT market pair because everyone is predicting the price to go up but no one knows what is the upper limit of the price, your best bet would be to become attentive and when the traders are saying that this is the max bitcoin can go then sell your small portion of coins and then wait for the price to dump, if it really dumps then sell all your coins and if the signal was false then you would still be having bitcoins with you. But the more important thing in the big picture is to always buy bitcoins whenever you can no matter what is the price of bitcoin in the current market in future when bitcoin is at $100k then this $11k price will seem to be a bargain that you are getting now.

Yeah, I think one should be contented on what he can gain. There is no fast and easy money here but pretty sure one can earn. This is why we need to be patient when it comes to market volatility. Just like what happen to 2018 where market crashes and many had thought that it is the end for bitcoin. But see what bitcoin now, it made a good comeback after a year so in this case a yearly base investment will be okay as long when one sell bitcoin should have profit at least no matter how small it is or just when the target reach that might be good already. But if one wanted to risk more then one can wait and definitely bitcoin is not going down for it is always going up as what we have been observing since it began on 2013 I guess(not pretty sure).

I think it depends on your objective but with the use of the basic style to earn bitcoin is buy when the market price is low and sell when it comes into the ATH.

Still, it depends on your technique also you can choose right now because the market price of the coin is leading towards into the 11.7k you can buy this market time and then wait for the price of the coin reaches over 15k dollars if you think you already have a profit you can pull it out just easy concept.

Or

You can make a trade daily or weekly with your bitcoin ( not only the bitcoin pair) and then set a quota to your income by that you can still be earning profit while the market movement is increasing.

IMO, I'm tired of making trade, and its just fine to me to wait for a long time I choose the first option.

A lot of people I am sure would have expressed their opinion on the subject matter but if I am in your case and to make that decision, I would take my eyes away from BTC yes it's the highest but the percentage increment is a concern for me and as an investor, the ROI is a very potent factor. So, other coins ROI would surely bring more return than bitcoin both in the short run or long run in my opinion.

I can categorically state that if I'd traded back and forth I'd have a shit ton less than I do now.

Gawd knows why most newcomers arrive believing 'trading' is the best course of action. Almost all of them will fail if they keep doing it.

If you believe you have enough knowledge and mastery of your own emotions then go for it. You won't find out that you do not until a very expensive moment has already been and gone.

Trading is a good idea if you know what you're doing. Most people don't and end up losing money so be careful with this.

I always tell people who ask if they should start trading to take $100 or a similar amount that they're comfortable playing with and trade for a few weeks. If in the end they manage to earn even $1 they're on the right track and can start slowly increasing the traded sum.

I don't have time to trade anymore and I'm scared of keeping coins on centralized exchanges. If you want to choose the safe way this is the thing for you.

I fully agree with those who advise you to learn how to understand the crypto market yourself, because such questions are most likely asked from a lack of experience. Anyone who advises to do one way or another - will advise based on their experience and their mistakes. Any person has their own plans, in case something goes wrong. I myself constantly watch various predictions and tips on YouTube. But, the conclusions are very simple, for the most part all these predictions and advice are failures. The authors are very easy to get out - today they give two opposite points of view, and tomorrow they say - I told you so. But for some reason they forget to say that there was no specific scenario. This whole topic concerns not only cryptocurrency, but life in general. I always tell my children - live your life, make your own mistakes and analyzing them - boldly move forward.

Mate, everything depends on how much knowledge you have, how much you need money right now and how much you are willing to risk with no guaranteed profit in return.

Every investors got their own different stories so you cannot easily copy what others because it might be not well suited on your situation. But if you'll ask me, I am doing the first thing you mentioned. I keep on buying, actually i bought some coins yesterday despite its price go higher and higher. I'm catching up as much as I can so that I will gain greater profits just in case btc's price skyrocket before this year ends. .

See? Unlike other investors, I'm not bothered with the current price. How about you? Have an introspection and assess what's best move you can do ;).

My advice is if you have made a profit of above 50%, just sell the Bitcoin that you have. Because if it's too greedy
and delay profit taking will regret in the end. We must always remember that the price of Bitcoin is very volatile,
so even though it's in a position bullish can suddenly turn into bearish. So if it's a big profit, don't delay selling it.

Before I will give MY opinion, I would just like to say that take our advice here as a grain of salt only because in the end it will be your decision that matters. Gather all of our opinions and make some research too then make a decision on it.

It depends on how good you are in trading.
Trading gives more profit in the short to mid term compare to HODLing but on the other hand, the risk is higher especially if you aren't that good in trading. Yes the market is moving upwards all the time so I'm holding Bitcoin for quite some time already because the trend is always on the upside. Yes there are downturn but I see it as an opportunity to buy more.

If you're good in trading and at least you are getting profit from it then go trading but if you aren't then just invest in top coins including Bitcoin. You saw the trend already. What you only need is time and patience.

When do you have in mind as the rainy day and what is the purpose of your getting Bitcoin, then you can decide Better, most people are still buying and hodling now, because as the value is rising, greed and indecision is what make people loose more. What you need do is to simply study the market and take advantage of time, when the value rises to what is good enough for a gain sell and reinvest in more assets.

Have you read he is asking for an advice? Nothing really wrong with that. It is his way to be educated tho, asking for suggestions from others. For sure he won't follow all of the advice but still it will gave him an idea.

Well, here's mine, if you are planning for a long term, I mean years, you can buy anytime you want as long as you have faith in btc. But if you are trading casually, and not really know much about reading candles. You can still buy right now, or wait for it to dip before buying. It will be your call and plan. Try watching youtube videos about technical analysis about it. Try acquiring knowledge, and I hope you'll make your own decision.

It depends on your time, perhaps, cryptocurrency events could impact greatly to traders. But with the term "scalping", even if there's no major event that could drive the price of crypto to increase or decrease its price, you can still earn. what you just need is time to watch bitcoin or your favorite altcoins, and with the small amounts of profits together from various altcoins, you can still earn a promising amount.

But well, it is easier to hodl for you to have time to do other things, I can say it is easier because you just need to watch 2 crypto, Bitcoin and 1 stable coin.

you can buy bitcoin and try to trade it, if the price is low you can hold. but if the starting price is high you can trade, because now the price of bitcoin can be an advantage for you and can also be one of the best options for getting profit

keeping for rainy day . does it mean keep for later use or when theres an emergency ? i like that . thats better than doing daily trade and getting smaller profit becuase chances are , you are only going to spend the small profit on unwanted items because its small anyway but the initiative can changed if your earning big thru hodling or long term investing , so invest while price is still growing  . you already said that market is doing a good job so why not believe on it ?

I know that you are doubtful this time but tried to figure out what happens in the past bullish, it might the same thing will happen again, repeatedly. The market flows still uncertain because of its volatility, not even sure that we can hold this uptrend motion until the end of this year (at least).

If you can afford to hold it, better do it. But I don't give a suggestion to buy more this time while the market keeps moving high, the risk is really high. But anyway, it is that your choice either to buy if you can afford it as well.

I think what some of you don’t understand is that you can be a trader and also an investor, it’s possible 8). You can HODL your coins and also be engaging in day trading, just divide your portfolio and try to do the work properly. But if you want to just be into HODL, you can still continue to hold your coins, I don’t think that the market is going down anytime soon.

There have even been lots of predictions that the market will likely be hitting another ATH price before it goes down. In the previous month the price of Bitcoin and Eth has been at $9,000 and $2,00 respectively, but it didn’t take long for the prices to move up to a higher price with Bitcoin getting close to $12,000 and Ethereum at almost $4,00. I mean, after your skill, there is one important factor which will be deciding your level of success and that must be luck factors or God's touch.

Up for this, sometimes this is my solution when I don't know what to do in my BTC, I'm very confused if I will hodl it or should have pursued daily trading. At the start, you should invest first and wait for a bitcoin price growth, then once it occurs, trade the half or three-fourths of the BTC and just hodl the rest and wait for another pump. Probably BTC will pump again, just wait for the right time and don't lose hope on it because we are currently on the Q3 of the year 2020, there are still many things that can possibly happen.

I would combine both holding and trading. Maybe find a way to keep "stacking/accumulating sats" on a seperate platform while doing regular trading at another platform. By the way, I think it's better to stack whenever price dips

It all depends on your goals - if you need money right now and you do not have free funds for existence, then of course you need to trade in real time in small volumes. And if you have an airbag that you can use right now, then buying on long-term hold is your choice.

Since bitcoin has a lot of price volatility, it would be nice to buy bitcoin on a decline in prices and sell on a rise, however, in this case, you need to be well aware of the upward and downward trends in prices in the cryptocurrency market. So, bitcoin has recently risen in price and whales began to withdraw large batches of bitcoins for sale in order to fix their profits, but recently they changed their minds and took bitcoins from the exchanges. This means that for some time bitcoins and the entire cryptocurrency market will still grow in value. Further, you need to make the right decisions on time. There can be no general advice here.
Yes, over 90 percent of the entire lifetime of bitcoin, it has grown in value. However, this does not mean that it will always be. In the coming year, the price of bitcoin should indeed rise significantly in value. Therefore, in general, it is still profitable to keep it. Nobody knows what will happen next.

I can feel now as the time of 2017, when the coins increase, it is best for you to take a profit a part now, and hold a part, that hold must be if it is lost then it's okay, everything is risky, it is best to take profits when possible

It's your money so better to take your call instead of seeking for someone's advise, it's  a big lost not just for money but also for learning
if you'll just park your trade leaning with other's knowledge.
This venue of income opportunities is not a scheme that will bring you to easy access to richness.
You need to learn the process, do your DYOR and understand each fundamentals to use for a much safer and successful
trading experience.