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Author Topic: Is it wise to hold Bitcoin for a long time or sell to meet a need of life?  (Read 305 times)
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January 30, 2018, 02:56:30 AM
Merited by Lucius (5), digaran (4)
 #1

It is one question that comes to the minds of people, who are not day traders, most often in one form or the other. Looking at the soaring value of a bitcoin people make and have made a 'general' investment in bitcoins. There are again others who invest for a particular purpose like their children's education or to buy a property for instance. But whenever the right opportunity comes and when they want to sell, they are hesitant. This may be out of greed that they may miss out on even greater profits.

A long term investment is to meet the long term need of life. Throughout life there are needs. Even after the person dies, it appears there are needs hence insurance has become important. In such a scenario people do make investments for bright and secured future of themselves and their family. And this is necessary.

When such an investment is made in bitcoins, there is a chance that bitcoins may in fact prove worthy of their expectations and soar to a value that the investor initially desired. At this juncture, the investor can sell the bitcoins and choose to fulfill his desire. But most times he is tempted not to sell looking at the growth of bitcoin.

If selling the bitcoins he has invested for this purpose was the only way to fulfill his purpose, the investor of the present times seem to have been caught in confusion as to whether sell or hold.
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January 30, 2018, 03:31:33 AM
 #2

I understand the whole tactic of holding bitcoins for long term profits. But the whole point of investing is to gain profits and use them for your own benefit, much more during in times of need or emergencies. If you find yourself in a situation where there is an emergency and your hesitant to cash out some btc's because you still believe that its value will go higher, then the whole point of you investing is somewhat gone/changed. The notion of "holding for as long as you can" is very unrealistic, because you can't do that in real life. At some point in life, we're gonna have to cash out btc's for us to use them or do you expect to "hold" these until you die? 

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January 30, 2018, 03:33:50 AM
 #3

It depends on what you think, if not needed, there is no need to sell bitcoin, Bitcoin can be used as long-term holdings. Of course, if bitcoin reaches where you feel comfortable, you can choose to sell, but often no one will do that because people are greedy and they only crave for more.
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January 30, 2018, 03:46:17 AM
 #4

Withdraw a portion and meet a need of life whenever required is the best way. When life requires anything urgent, no point holding for long time, cash out and meet the need.
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January 30, 2018, 03:52:33 AM
 #5

Holding bitcoin for a long time is an advantage because we all know that the price of bitcoin keeps on increasing though sometimes it goes down but we know that it will go back to its high price. They go into investing to wait for the right price to come to become more profitable. But sometimes it also depends on the need of the person that's why they prefer to sell bitcoin just to sustain their needs rather than holding it. Like me I wanted to hold more bitcoins for the future but sometimes due to some important needs I cannot refrain myself from selling it. And as long as there is bitcoin have to work harder to earn more and do both saving and holding bitcoin for a better tomorrow.

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January 30, 2018, 03:52:44 AM
 #6

There is always a difference between what you need and what you want .

If you want to sell all your Bitcoins because you want to buy some new clothes that you dont need or to go around in parties and stuff then this thing can always wait .

You can easily wait for a while and hold on your coins.
Only sell where there is an absolute necessity , try to hold them if you can because it would give better returns in the future .



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January 30, 2018, 10:27:54 AM
 #7

Selling bitcoin to meet a need in life versus holding longterm for a bigger profit, for me it depends on the situation, if it is really badly needed and no other way of fund source, well maybe i can withdraw a portion of it to solve the needs and retain some for holding, at least I still hold some and have something to wait for profit in the future and i guess whoever on the same situation will do same thing😃
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January 30, 2018, 11:24:10 AM
 #8

It is one question that comes to the minds of people, who are not day traders, most often in one form or the other. Looking at the soaring value of a bitcoin people make and have made a 'general' investment in bitcoins. There are again others who invest for a particular purpose like their children's education or to buy a property for instance. But whenever the right opportunity comes and when they want to sell, they are hesitant. This may be out of greed that they may miss out on even greater profits.

A long term investment is to meet the long term need of life. Throughout life there are needs. Even after the person dies, it appears there are needs hence insurance has become important. In such a scenario people do make investments for bright and secured future of themselves and their family. And this is necessary.

When such an investment is made in bitcoins, there is a chance that bitcoins may in fact prove worthy of their expectations and soar to a value that the investor initially desired. At this juncture, the investor can sell the bitcoins and choose to fulfill his desire. But most times he is tempted not to sell looking at the growth of bitcoin.

If selling the bitcoins he has invested for this purpose was the only way to fulfill his purpose, the investor of the present times seem to have been caught in confusion as to whether sell or hold.

That's a good question, and I believe that many are asking themselves that same question at the present time.This sort of thing should have some sort of strategy,when people invest they need to know in what they invest and for how long.In case of BTC we all know what kind of risks are involved in such investment,and two most important things are price and security.

Before any investment in BTC everyone has to determine the amount of money willing to invest and time when that investment will be realized.So if you invest 5 years ago(2013) and your time frame is 10 years,then you should be strong and not think about selling for the next 5 years.

As you say people invest in BTC because of different living needs,some want to buy new house in next 5-10 years,others invest for the purposes of schooling of their children.Some will not sell BTC never,but will leave them to their children or grandchildren.

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January 30, 2018, 11:38:06 AM
 #9

Each one of us has different purposes why we are investing and earning cryptocurrency. For others it may be their bread and butter while for others it is for long term investment to provide for their needs in the future. Base on the status of bitcoin nowadays, there are still many people who are investing in it because they believe that it will be valuable in the future and for those who aims to increase their stash would choose to earn more by participating in earning opportunities here in the forum or trade and if they have a need then they have the option to sell it. Just always remember to invest only what we can afford to lose.

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January 30, 2018, 11:58:46 AM
 #10

Yes. It is wise to hold bitcoin and sell it if the value market is risen and especially if you really need the money.
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January 30, 2018, 12:07:35 PM
 #11

It is one question that comes to the minds of people, who are not day traders, most often in one form or the other. Looking at the soaring value of a bitcoin people make and have made a 'general' investment in bitcoins. There are again others who invest for a particular purpose like their children's education or to buy a property for instance. But whenever the right opportunity comes and when they want to sell, they are hesitant. This may be out of greed that they may miss out on even greater profits.

A long term investment is to meet the long term need of life. Throughout life there are needs. Even after the person dies, it appears there are needs hence insurance has become important. In such a scenario people do make investments for bright and secured future of themselves and their family. And this is necessary.

When such an investment is made in bitcoins, there is a chance that bitcoins may in fact prove worthy of their expectations and soar to a value that the investor initially desired. At this juncture, the investor can sell the bitcoins and choose to fulfill his desire. But most times he is tempted not to sell looking at the growth of bitcoin.

If selling the bitcoins he has invested for this purpose was the only way to fulfill his purpose, the investor of the present times seem to have been caught in confusion as to whether sell or hold.

Thing is if you sell you will feel bad about selling and in reverse : if you hold you could regret holding. In my opinion you should go hit the desired amount and try to move your investments in something else such as a bit more stable investments with lower % returns. But again if you are here because you simply would like to use this as currency then there isn't anything of why you will look into selling.
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January 30, 2018, 12:12:29 PM
 #12

What to do when you have invested when price was going up, but now it has dropped %40? you should sell or wait? investing on Bitcoin has to be made using the money you would never need. if you have no use for Bitcoin other than investing for profit, you should be ready for times like now, you have to remember how many times something happens in crypto, if you remember them, there should be no confusion.

Each one of us has different purposes why we are investing and earning cryptocurrency. For others it may be their bread and butter while for others it is for long term investment to provide for their needs in the future. Base on the status of bitcoin nowadays, there are still many people who are investing in it because they believe that it will be valuable in the future and for those who aims to increase their stash would choose to earn more by participating in earning opportunities here in the forum or trade and if they have a need then they have the option to sell it. Just always remember to invest only what we can afford to lose.
How many Bitcoins do you think people could earn in a month here? comparing to ICOs nothing, opportunities are not really what you think, they are using you and Bitcoin to fill their own pockets, just remember to invest on Bitcoin and activity tokens if you don't want to pay your tax. lol.
Yes. It is wise to hold bitcoin and sell it if the value market is risen and especially if you really need the money.
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January 30, 2018, 12:18:51 PM
 #13

I periodically sell to lock in profits. 

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January 30, 2018, 12:19:58 PM
 #14

Withdraw a portion and meet a need of life whenever required is the best way. When life requires anything urgent, no point holding for long time, cash out and meet the need.

I agree on these one. You should withdraw if you really need it. There is no point of holding if you will sacrifice your needs in life, But withdraw only if it is necessary, such as emergency or etc. If it is only for your want, then I suggest for you to just hold.

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January 30, 2018, 12:23:53 PM
Last edit: January 30, 2018, 03:39:23 PM by felipe04
 #15

Yes we can hold it for long time and it's recommended but some altcoins need only day trading because the price of that can't go really high not like btc price that can go really high like now,try to monitor different altcoins some price only stay on 1000 satoshi to 10000 satoshi so it's not for long term but it's more on buy many then sell it with 200 satoshi high.

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January 30, 2018, 12:24:32 PM
 #16

Well the answer is already in your question.  If you are doing bitcoin for an extra income or it is just your income then there is no need for you to keep it.  All of us here are with the same goal to earn money.  So if you meed money then just use it.  And when you have an extra then that are the one you will keep.
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January 30, 2018, 12:29:13 PM
 #17

There are two kinds of people who technically hold bitcoin and later spend them and the other one is the one who save them so they can get more by buying and investing to the crypto world. Just want to share this but when its about our life....

 
Withdraw a portion and meet a need of life whenever required is the best way. When life requires anything urgent, no point holding for long time, cash out and meet the need.

I agree on these one. You should withdraw if you really need it. There is no point of holding if you will sacrifice your needs in life, But withdraw only if it is necessary, such as emergency or etc. If it is only for your want, then I suggest for you to just hold.

Good things I read this threads prevoius post and about this is post that states you should only widraw if if you need it no need of bitcoin if your into the point of losing someone like your love one beccause that bitcoin of yours can only save someones life.

For my own comment

Everyone states that they want to have bitcoin because they want to invest and get mocommentmime is the same but when you typically need it the most get it to get somethings that you really need because that is what the real moneys porpuse.

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January 30, 2018, 12:32:32 PM
 #18

I understand the whole tactic of holding bitcoins for long term profits. But the whole point of investing is to gain profits and use them for your own benefit, much more during in times of need or emergencies. If you find yourself in a situation where there is an emergency and your hesitant to cash out some btc's because you still believe that its value will go higher, then the whole point of you investing is somewhat gone/changed. The notion of "holding for as long as you can" is very unrealistic, because you can't do that in real life. At some point in life, we're gonna have to cash out btc's for us to use them or do you expect to "hold" these until you die? 
I agree with this , but the volatility makes it hard for people .  Everybody has the pizza guy in their head , but never forget why you got in . And if you have reached you goal you had in the beginning  , you should sell at least a part.

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January 30, 2018, 12:39:48 PM
 #19

Cryptocurrency is a volatile asset. We don't even know how much time cryptocurrencies will live. In such conditions it is possible to make long-term investments? The best option is for me to earn money now. If you can earn more money than you need now you can store in different currencies. I do not rule out that part of the savings can be kept in bitcoin but only that part which you are not afraid to lose. To rely on this part I do not recommend.

 
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rickadone
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January 30, 2018, 12:55:54 PM
 #20

Cryptocurrency is a volatile asset. We don't even know how much time cryptocurrencies will live. In such conditions it is possible to make long-term investments? The best option is for me to earn money now. If you can earn more money than you need now you can store in different currencies. I do not rule out that part of the savings can be kept in bitcoin but only that part which you are not afraid to lose. To rely on this part I do not recommend.
Yes, volatile but not getting struck within some range. If you notice, in long periods most cryptos are getting appreciated in their value. So, holding bitcoin kind of highly established crypto coins definitely fetch big advantage than just working for cryptos and selling them for our daily needs.

Because, crypto currencies are still in their early phase. To gain attraction from all the people around the world, it is still having investment property. We must make use of them. So, holding is highly recommended for those who are all want to make some easy money still there will be many risks are associated with it.
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