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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)
paulo29
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January 30, 2018, 01:05:31 PM
 #21

Holding or selling bitcoin for whatever reasons is always depend on one's decision, motives or objectives. Anyway, everyone has an option to sell part of its bitcoin for necessity, and part of it into hold for investment.
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January 30, 2018, 01:15:29 PM
 #22

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.
For me whether you hodl it for a very long period of time or sold your hodlings for a short period is not a bad thing, because we have needs in life just like what you have said, there are times that we really need some cash badly and even the price is not acceptable to us we need to do what is necessary for our needs in life.

Long term hodling of bitcoin or any kind of crypto currency are really rewarding and you need to have a lot of patience and faith on what you are doing or beliefs. But it is really hard to hodl a certain coin or token for a very long period of time unless there were no financial problems that will come on your way.  Smiley


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January 30, 2018, 01:23:16 PM
Merited by connexus (20), ammo121810 (2)
 #23

It depends on the persons needs. If you had invested bitcoin for your future and you have enough money to use for your daily expenses you can hold it for a long time. But if the financial needs occur and you really need to be able to sustain the you must sell some. My only advice if you are for a long term investment set in mind that you should think that as if you do not invest for you to be able to hold your coins for a long time.

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January 30, 2018, 01:31:47 PM
 #24

I think you can choose to sell some bitcoin, which should be enough to satisfy your needs.
The remaining half you can continue to hold as a long-term investment, which I think is a good idea.
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January 30, 2018, 01:37:17 PM
 #25

depending on the owner of the coin itself, whether he will hold or sell it
If I am private, I prefer to hold it, and for my family to need every day, I have set aside my money before investing everything in bitcoin .. and in my opinion this will be enough for all of us, until bitcoin prices reach the highest. then i will sell it
Confidence, and patience, are needed

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January 30, 2018, 01:40:25 PM
 #26

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.
We can't blame those who are selling their Bitcoin because they are really in need of money, since that's why they want profit which is to fill their needs. But I think if it is possible, it is more wise to just hold your Bitcoin. Its market value has a hue chance of becoming more expensive. As such, you will have a chance to earn bigger profit in the future.

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January 30, 2018, 01:43:42 PM
 #27

Well,I think it really based on the person who using bitcoins.If someone considering bitcoin as an investment not a means of currncy then he have to sell it when the goal price of him reached.
If someone thinks bitcoin as a future form of currency then he need to hold it forever because crypto currency is going to be the future currency.

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January 30, 2018, 04:44:18 PM
 #28

Well,I think it really based on the person who using bitcoins.If someone considering bitcoin as an investment not a means of currncy then he have to sell it when the goal price of him reached.
If someone thinks bitcoin as a future form of currency then he need to hold it forever because crypto currency is going to be the future currency.

Yes it true that there are people who are piling up bitcoins to use them simply as currency of the future. At the same time, holding many coins will give the advantage of selling at right time. This in itself is an investment. But many do not trade their coins for a brighter future and higher value. Today the market is volatile and we are able to find a drastic fluctuation in the value in a very short period of time. But in the long run some of this investment can really fulfill the need of the hour coming up then.

People who may use it as a currency and simply are stacking up their bitcoins have actually earned them through trading etc. One who has put in money may little consider the value of bitcoin as a currency compared to it being an investment. It is also important to fulfill the purpose of any investment to utilizing it in the best way possible. As the saying goes, the one who knows to spend is the one who knows to save. 
Joyceshiroor
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January 30, 2018, 04:56:49 PM
 #29

A long time holding of bitcoin is not good...it may lead you suffer major losses..so better do small investments for a small span of time...sell your btc after some intervals
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January 30, 2018, 05:14:23 PM
 #30

Yes, until now investment on bitcoin is very promising. What we know bitcoin prices are so volatile, so many people are confused when buying or selling bitcoins. I'm sure everyone will be the same when buying bitcoin wants at lower price, so when bitcoin goes down they will continue to wait until bitcoin decreases again, as well as by selling bitcoin they will get confused as well when selling it, when bitcoin prices goes up, they will wait for bitcoin prices until more up. My strategy of investing in bitcoin is, I choose short term and long term. I mean, when bitcoin price goes up I will exchange some, not all bitcoin I have, to provide for my daily life then I hold back.

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January 30, 2018, 05:15:54 PM
 #31

You do understand that bitcoin can disappear any time right?  So why on the hell would you risk money and wait so long , at some point you would need to cash out  Smiley
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January 30, 2018, 05:42:32 PM
 #32

Well,I think it really based on the person who using bitcoins.If someone considering bitcoin as an investment not a means of currncy then he have to sell it when the goal price of him reached.
If someone thinks bitcoin as a future form of currency then he need to hold it forever because crypto currency is going to be the future currency.
exactly this is may always depends on the person on how does he may able to earn and on how they may have the chance to take some opportunity of having this kind of life for , how they may have some chance to earn bitcoin.
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January 30, 2018, 05:46:07 PM
 #33

In my opinion, it is wise to buy Bitcoin and hold it for a few years. Even though Bitcoin isn't as cheap as it used to be, it is still a good investment due to growing cryptocurrencies popularity. I wouldn't be surprised if Bitcoin became the new gold because of its limited supply and a huge demand. People who have a hundred of thousands BTC can sell some of their holdings for USD which won't be replaced anytime soon. They won't have to bother with anything for the rest of their lives.

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January 30, 2018, 06:10:40 PM
 #34

My strategy in the beginning was to take profit with every spike in the price and to get back my initial investment capital as

soon as I could. Once I reached that goal, the risk factor was much lower, because I had way less to lose IF it failed. I have

since made more than 800% profit on my initial investment, so I am virtually risk free with this investment. {A very good

place to be, with any investment}  Grin
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January 30, 2018, 06:17:39 PM
 #35

it's practically answering that if in urgency/emergency to meet the need of life its better to sell it to provide your needs, We are giving our best and hard work to earn bitcoin for ourselves and also to our family.
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January 30, 2018, 06:51:10 PM
 #36

It is indeed wise to hold Bitcoin for a long time and it's also okay to sell in order to meet up with needs of life.
But let me give a little advice to you. I many times leave my money to grow even if i have needs. what i do is; i borrow money from trusted friends/parents then when i think my bitcoin or altcoin has grow to a suspicious height i'll sell and then pay up. Another advice is, don't borrow so much and if you think selling is better than borrowing then sell.

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January 30, 2018, 07:53:49 PM
 #37

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.


look man, there is nothing more important in this world than happiness and well being. you have to make sure that no matter how great the potential profits there is on the crypro world, you will never forget that wealth is nothing if you are not having a happy life. i use to think that holding coins for the longest than others is the way to go. but obviously, i was wrong. the thing i can advice you to do, is to never ever forget to reward yourself. never deprive yourself of what you need just because you want to be greedy. of course this should be done with full moderation. but i think you get my point. just try it op. when you reach a point where you already have profits, take some to reward yourself then leave some for holdings, savings, investing, etc.  while working hard to gain more. doing this will not only make you experience the fruit of your labor but would also make you remember why you are doing this in the first place. and that is to have a better life. another great thing is this then will give you a better push to work even harder or have better motivation. then not long after, you will not have to worry about the prices of cryptos too much because you already know to yourself that you have already enjoyed and have had a lot of benefits when cryptos where still big.

i hope this reaches you and others out there who have forgotten about this simple but very important thing.
good luck with your journey man Smiley

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January 30, 2018, 08:02:23 PM
 #38

I have already been in a situation like that and I chose to sell a part of the held amount. If you ask me now if it was a good deal from financial point of view I would say no, because I could have made much more profit just by holding the amount I sold, but on that past moment it was wise to sell the BTCs to diversify my investments and to decrease the risk of putting all my eggs on the same basket.

Also, with the profit I made from Bitcoins sale, I could introduce myself in a new activity, opening my horizons.

 
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January 30, 2018, 08:03:19 PM
 #39

A long time holding of bitcoin is not good...it may lead you suffer major losses..so better do small investments for a small span of time...sell your btc after some intervals
A long time ago, if people held Bitcoin then they should have been prepared to keep it for a long time...

 
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January 30, 2018, 08:04:20 PM
 #40

I prefer holding it. Long term is the key to succes in this case. If you can give up to the need of life you are taking about then you should hold your coins
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