What is your advice: When should I cash out?

[gabmen]

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

we can spend cash when we already get profits in trading and in dire need of money, if not yet need money then we do not need to spend cash or withdraw cash, leave it for trading.

The coins you're currently holding are for long term and cashing out should probably be only when you need it. Btc, eth, ltc and even ripple may go way beyond what we expect in a few years so cashing out on these coins entirely should be reconsidered

[heringasem]

I sold 0.50 bitcoins at $20000, it was probably the best decision that i took, because a few hours later the price dropped to less than $19000, and a day after that it dropped to $16000.

But yes, if you have the possibility to keep holding for a while, just hold it, but if you can not, just sell them right now instead of having a headacche and nigthmares about possible bitcoin crashes, lmao.

[Willitivity]

Cashing out is a personal decision for anyone, similar to you, I cash out when I need money to attend to some needs. But you can as well cash out when you're comfortable with your profits, or if you forsee any upcoming dip, you cash out and buy back during the dip. Everyone has different times for cashing out.

[BLAST2MARS]

In my opinion, it's good time to cash out when my altcoin suddenly spikes 100% or more because after a day it is certain to decrease or have a correction.

[jundel]

if your personality makes you a good short term or long term trader go for it. as long as you are satisfied with the value and wont regret the move, its good

[megget]

This is the most important question for any trader. It all depends on your greed. I think if I closed the deal in plus, and after that the price went up, I'm not upset. Someone closes on graphical analysis, someone on the indicator or Fibonacci levels.

[Enjel]

I recently took out a good amount of my portfolio at ~17k and managed to get back in at ~12k to 13k, which worked OK. Right now the market looks very volatile and uncertain - no one knows if it will go up or down.

Definitely used my intuition, since there was no way the price pump was healthy.

[richardsNY]

Definitely used my intuition, since there was no way the price pump was healthy.

It was indeed a much needed correction, and we finally have seen it kick in. If the market remains relatively calm, current levels should be maintained without much problems, of course, with the well known ping pong movements between a certain range. That being said, it was quite an over-exaggerated sell-off that we faced yesterday. It was pretty much a one way ride, and that was down with no exceptions. I still wonder whether or not it were old hands liquidating their profits in a rapid manner instead of patiently doing so without taking the market down. We'll probably never know, but I am happy that it granted me a very decent entry point.

[mriansa]

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

if you are stuck in a very expensive bitcoin price then I recommend buying altcoin coin whose price is still cheap because if not so bitcoin you have can not grow.

[Silberman]

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

I think now is the time for you to sell your btc. Prices have probably reached the highest level. The demand for btc is decreasing. So maybe prices will not keep rising.

Cashing out at the "right" time is very difficult. The ideal scenario is always: buy low and sell high, but this is just in theory.
Giving the high rise of bitcoin, I am also thinking of cashing a little bit of my BTC, enough to have a profit and hold the rest.

There is a right time , but people do not plan for it, for example if you know you are going to need money in 3 months then there is no point in waiting to cash out just before you need the money, watch the market and cash out when the price is at its highest that way you get more money for your bitcoin and also only cash out what you need, you do not want to miss on a price increase and instead of having bitcoin you have worthless fiat.

[qiwoman2]

No one can give you a definitive answer to that as no one knows your financial situation or your personal needs. I would cash out a percentage every time there is a spike and keep a little funds ready for any dumps. This is what I will do after Xmas as now I do not have time to trade or do anything else other than post here until XMAS is over due to family commitments. MAKE some goals also that you want to reach for longer term as well and see how it goes, good luck.

[Davinus]

You clearly said it, you want to buy gifts, that is the reason of why a lot of people are cashing out a lot of money right now, and the price is going down very quickly. But yes, if you had already made a lot of profit, why wouldn't you retire of the market? just do it, cashout some money.

[keithieY5]

why  you should cash out? if you have unused money just keep holding.

if you hold bitcoin at 2010 till today will have millions just hold no one will know price in 2050

[melted349]

Cashing out is a personal decision for anyone, similar to you, I cash out when I need money to attend to some needs. But you can as well cash out when you're comfortable with your profits, or if you forsee any upcoming dip, you cash out and buy back during the dip. Everyone has different times for cashing out.

yes there is no desire counsel that you are might to know here cause having this kind of decision are always by your own and not depending on others yes it is hard to have that kind of decision but we all know that this is personally you can have a lot of choices but always remember we all have different needs.

[goldade]

There isn't a specific time to cash.  The time to cash out  isn't what really matters but cashing out to make profit.  The best thing to do is to be observant and cash out when the price is high enough to give you profits.

[Julia_KA]

I see no panic here on the forum but everyone's belief in bitcoin's long-term growth (excluding short-term speculative rises and falls). This being said, unless you love trading or need cash, just hodl. Maybe even wait till the bottom of this downturn and get more. That's what I'm gonna do for sure. The trend changed so fast last time though - hope I won't miss out when the rise starts again

[lite]

I cash out whenever i need/when there's shortage of money, otherwise i keep hodling. you can do the same as i or when you feel the price is high enough then cash out. it's probably best to hodl and sell your coins when you're in need.

[nguyenkhanhhung14]

If you cashed out when the price of Bitcoin is more than 19k$ I think you're very lucky cause at the moment the price of Bitcoin is really low, only about 13k$ ). But don't worry cause the potential of Bitcoin is very good and in next year I think Bitcoin price will be at least 50k$. You can cash out whenever you want as long as you feel it's the good time for you to sell your Bitcoin

[furry04]

Instead of cashing out you can follow a more simple strategy such as converting them to tether and when the price falls you can buy in dip and sell high. But when there is a rapid increase and after a time the price is stable then it must be the perfect time for cash out.

[Lmaooo]

Well, i think cashing out your money out of bitcoin is a great mistake if you are not in need of money seriously. Sometimes it is better to invest and forget about it untill after some time that way you can make a lot more.