|
I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
|
|
|
|
OP, buy more during the DIP, especially the DIP of a bear market. Why? Because it's giving us plebs another Golden Opportunity to buy Bitcoin with a > 50% discount from the last ATH. When the bullish cycle returns, for front-running, you'll be told that you "just got lucky". Got lucky for buying the DIP, to HODL, that no one wanted to buy?
Luckily I only started investing in Bitcoin when it crashed to $17000 in June last year and looks like I bought a nice chunk at the bottom too. Like a lot of us I am sure I didn't expect it to pump this much over the last month but hopefully we have at least one more crash back to around $19000 again before the bull run starts so we can all buy more. During the real lows in November/December I was more focused on altcoins but have seen quite a few pump at least so I am putting most of my profits into Bitcoin now. |
|
|
|
I currently have 0.08 BTC at an average price of $19000 and just wondering what everyone does when we have pumps like we are currently seeing.
---
I usually DCA weekly but thinking I may miss this week and buy more once we have another pullback.
If you are already convinced that the price will be $23k or lower again, why don't you sell your 0.08 BTC at a price that is currently around $25k and then buy at a lower price? To be clear, this is no financial advice, but DCA doesn't make much sense if you calculate the way you do it. What if the price goes towards $30k and stays there for the next few months, and then rises again? Your average price simply has to increase because the price of BTC is increasing, or rather it is recovering to the levels where it was before it was affected by various scammers who shook the entire crypto market with their actions. I don't usually do this due to the risk of the price not going back down again but may do when we next pump as it has now gone back down to $23600. Hopefully we fall back below $23000 again which is when I will next buy some more. |
|
|
|
It's always good to keep your eyes open while doing DCA. So I wouldn't suggest you to invest same amount in all market conditions. Rather, invest more when the price is less than your average buying price and invest less when it is higher. That's the wisest route to take.
Because if you keep investing same amount when the price is higher, you will risk increasing your average price. So play slow when the market is higher than your average buy price.
Important for OP to consider where the market is now. Is it in a bull market or in a bear market? If OP thinks it is a in a bear market (I agree with), it is good to continue DCA. In addition, if OP believes that in future, just with a next bull run, after a next halving in 2024, Bitcoin will at least reclaim its all time high nearly $70,000 or better make a new all time high above $70,000, price around $25,000 is a dream for many people just next one more year. If OP agrees with me on these two points, why stop DCA with price under $25,000? We are still in a bear market, bull market will start next year. I think we will see a lot of pumps to around $30,000 this year. |
|
|
|
I usually skip doing DCA when I saw solid green candle and wait for a couple of days for a minor correction. Since you already have a good position with average buy price of 19K, Wait a bit for correction is the right thing to do because your initial investment is already on profit and there’s no need to chase for more profit by buying on a pumped price.
But of course this depends on your terms of investment. If you are looking for a long term investment such as a year or more, The price doesn’t matter whether it’s currently pumped or dumped because this price movement is only short term while you can average your buy a lot more on the following months coming.
Bitcoin is the one part of my portfolio I plan to hold till 2030 at least , most of my altcoins I will sell next bull run. I will wait a few days and hopefully Bitcoin drops back down to $23k again which i will set as my next buy. |
|
|
|
|
Hello all,
I currently have 0.08 BTC at an average price of $19000 and just wondering what everyone does when we have pumps like we are currently seeing.
I feel I have a great average currently but now that it has shot up to $24,600 buying now will increase my average price quite a lot.
I usually DCA weekly but thinking I may miss this week and buy more once we have another pullback.
Just wondering what everyone else does, do you buy the same amount each time or less as its more expensive?
|
|
|
|
Up until now I have not really thought about getting involved with XRP however have been doing more research and if they win the case feel it could really do well.
With a market cap of $21m already, how high can this really go if all goes well?
Think I may start to DCA into it and if it does win the case then who knows how high it can go, wouldn’t be surprised if it still did a 15x or more from current price.
Are you for or against XRP?
XRP is in the Billions in marketcap not millions. This alone can be a reason if they do win their case, the investment return may not be as big as you think. XRP is heavily centralised rather than decentralised. This is something not liked within the industry. I do have a small bag of xrp since 2019 but It is a tiny bag  Yes that is what I meant $21b market cap - this is why I have been put off so far and have still not invested in XRP. It could 20x or so one day if it wins the case but many other better plays out there with much smaller market cap that can 20x. Maybe 20x in a very very long time, I doubt it will 20x when it wins case as it will be so close to the same marketcap as btc currently. Yes that is Bitcoins market cap currently, but in a few years Bitcoins market cap will be trillions so a $400b market cap for XRP wouldn't be too outrageous. |
|
|
|
Up until now I have not really thought about getting involved with XRP however have been doing more research and if they win the case feel it could really do well.
With a market cap of $21m already, how high can this really go if all goes well?
Think I may start to DCA into it and if it does win the case then who knows how high it can go, wouldn’t be surprised if it still did a 15x or more from current price.
Are you for or against XRP?
XRP is in the Billions in marketcap not millions. This alone can be a reason if they do win their case, the investment return may not be as big as you think. XRP is heavily centralised rather than decentralised. This is something not liked within the industry. I do have a small bag of xrp since 2019 but It is a tiny bag Yes that is what I meant $21b market cap - this is why I have been put off so far and have still not invested in XRP. It could 20x or so one day if it wins the case but many other better plays out there with much smaller market cap that can 20x. |
|
|
|
|
Update - I have decided to stick with Bitcoin.
I need to keep telling myself it is a long term investment , almost like a pension fund and not one of these quick altcoin pumps I am hoping for.
Have converted some of my recent profits from Hbar & Verasity into BTC and now have 0.08 BTC.
Hopefully we can have one more crash before the bull run so we can all accumulate more at a cheap price.
|
|
|
|
|
Up until now I have not really thought about getting involved with XRP however have been doing more research and if they win the case feel it could really do well.
With a market cap of $21m already, how high can this really go if all goes well?
Think I may start to DCA into it and if it does win the case then who knows how high it can go, wouldn’t be surprised if it still did a 15x or more from current price.
Are you for or against XRP?
|
|
|
|
|
I first started investing in Bitcoin after the June crash last year.
I had accumulated 0.07 Bitcoin before we started pumping a few weeks ago and have since sold 0.02 which currently leaves me with 0.05.
I decided to sell and put the profits into other altcoins I believe will see greater gains in the next bull run.
I am not sure if I should continue selling my Bitcoin the more we pump or if I should start to DCA again.
My thinking behind selling is although I got in at a good price (my current average buy is £15k), that it is only a 6x from £100k which is the expected amount Bitcoin will reach next bull run.
A 6x is good if you have thousands of pounds to invest , but I do not.
I want 20x gains and feel this is more realistic in top altcoins that are currently 80-90% down.
Is anyone taking profits or are most of us just DCA?
|
|
|
|
|
I will just hold for now and see what happends in the next few days.
I have read there is talk of a new coin being produced next week.
|
|
|
|
How come your tokens got siphoned? Are you putting of your tokens on a platform. I know alliance block and they are an erc20 tokens. You should just have stored your tokens on your non custodial wallet. Usually being stayed on platform makes this more dangerous especially if the project itself isnt fully secured and audited. Ive been trading this before during 2021.
I have my tokens on my ledger, I still have them. The price of Alliance block dropped 70% overnight. Just wondering if these 5000 I hold are now worthless or do I just wait and see what happens? |
|
|
|
|
Hi,
I have been thinking of investing in Singularity Net or Singularity Dao as I want to get involved with AI but need to do further research before I do.
Can I have your thoughts on these and if they are a good investment , why?
|
|
|
|
|
I have just sent some more Bitcoin from my ledger to coinbase but this time the fee was only 10p.
What does the fee depend on? The other day it was 51p and now only 10p?
|
|
|
|
|
To confirm, the fee was 51p and I sent £35.00
|
|
|
|
|
It took 59 minutes in the end for the transfer to complete.
I don’t mind that just didn’t realise it would take soo long!
I am 22% up on Bitcoin so time to take some profits and put elsewhere.
I am gambling on Bitcoin having at least one more crash when I will then buy more.
|
|
|
|
|
I have tried to send some Bitcoin from my ledger to Coinbase for the first time but it is taking a lot longer than I thought it would.
It has been 50 minutes so far and still says pending - how long does it usually take?
Is there a way to make it faster next time?
|
|
|
|
|
Is it best not to have so many transactions when it comes to working out how much tax to pay when the time comes?
I have been doing a little bit of trading over the last few weeks but thinking if that is going to make things more complicated by the time I need to submit everything then I will leave it.
I must have around 500 transactions on my crypto exchange as it is , thinking I don't want to add many more if it is just going to make it harder to calculate everything once I am sorting taxes out.
|
|
|
|
|
Show Posts
