I agree with you. The point is to implement a DCA strategy for the long term. If you achieve your goals and make a profit there's no harm in taking the profits, because the essence of investing in Bitcoin is to achieve financial freedom.
I sometimes get confused when people sell Bitcoin when they've already reached their target. This isn't wrong, especially since every investor's goals are different; even professional investors do the same thing. When they reach their target, they sell and then buy back in. Of course, the investment target is at least 10 years. If you've reached your target within 10 years there's no harm in selling and buying back in with DCA when a correction occurs.
Sure, taking a profit from your investment is not a bad thing, everyone invests to make profit.
You are describing investing as if it were trading, when it is not.
In other words, you may well expect that bitcoin will go up in the long term, such aw 4-10 years into the future after you started investing, yet you may well not be narrowly motivated by short-term profits because your plans maybe to ongoingly buy bitcoin no matter what for a period that might last 4-10 years or longer. .so if you overly focus on profits or not, then you may well get distracted from your main focus, which would be ongoing accumulation of BTC no matter the price.
But I hardly see an investor who sell off their Bitcoin after they have held for a long time. If you have hold for at least 10 years, it is not a bad idea to sell part of it because you own it, and the effort you put in to ensure you hold for a long time. If Bitcoin has been improving in previous years, I believe we should consider what Bitcoin price will be in the next 10 years.
It is o.k. to project ahead and even plan for what you might do, yet a the same time, you may well end up tweaking your plans at various points along the way, too, which concerns how you intend to deal with your bitcoin holdings at various points along the way and as you progress.
Surely, your own individual factors may well affect the extent to which you end up selling large amounts of your bitcoin or smaller amounts in ways that might be designed to keep bitcoin as an ongoing investment rather than a trade.
Some people will set a target themselves to buy Bitcoin, and after they hit the target, they will stop buying, but that does not mean they should sell everything after putting all the efforts to start over again. If you start again, the price will not drop down, and you will not have the advantage you had back then, and that sounds like someone selling and hoping to buy back at a lower price.
That is true. There are a lot of guys who got themselves into trouble when they ended up spending a decent amount of time accumulating bitcoin, and then selling too much too soon and causing themselves to become a low coiner or a no coiner based on their seemingly short term plan that ended up resulting into their selling too much BTC too soon. Sometimes they even turn bitter in regards to their feeling trapped if they sold too much too soon, and then they don't want to buy any BTC back at higher prices than the prices that they had sold at.
Sure, taking a profit from your investment is not a bad thing, everyone invests to make profit. But I hardly see an investor who sell off their Bitcoin after they have held for a long time. If you have hold for at least 10 years, it is not a bad idea to sell part of it because you own it, and the effort you put in to ensure you hold for a long time. If Bitcoin has been improving in previous years, I believe we should consider what Bitcoin price will be in the next 10 years.
Some people will set a target themselves to buy Bitcoin, and after they hit the target, they will stop buying, but that does not mean they should sell everything after putting all the efforts to start over again. If you start again, the price will not drop down, and you will not have the advantage you had back then, and that sounds like someone selling and hoping to buy back at a lower price.
I think it depends on the reason why you sold, yea. If your reason for selling is because you think you have saved up for 10 years and then, it's time for you take off some, then am afraid you are doing it wrong because such practices is retarding and slows your investment or accumulated assets. Perhaps, 10 years may not even be enough for you to hold, since we can't bank on bitcoin price, because the lower it falls, then, the lower your expected income or profit, and on the other hand, your accumulation amount too, you wouldn't have accumulated much if you are buying with little DCA amounts.
So I think the concept of selling off some junk of your investments if you have held for sometime and has made some gains isn't right and such is not enough and/or tangible reason to sell. If you still HODL longer, it's still yours and you still stand a chance to reap better gains ahead, offcourse, imagining what bitcoin price will be in the next 10 years should even be an encouragement to even HODL. Think long term, not short time gains
I think that if a guy is investing less than 10% of his income into bitcoin, it seems quite unlikely that he would accumulate enough BTC in 10 years, yet if he is investing 15% to 25% of his annual income into bitcoin, then his chances are greater that he might have had been able to accumulate enough or more than enough bitcoin in 10 years.
Surely, guys are going to make their plans differently, so it can be a bit difficult to figure out what guys are wanting to achieve from their bitcoin investment.
Don't get me wrong. Guys can ONLY invest at their own pace, so I am not even going to proclaim that it would be a bad thing that guys might need more than 15 years to get their bitcoin stash size to a large enough amount that they are feeling that they can slow down in their accumulation or even stop accumulating more BTC.
[edited out
I think it’s not really a bad idea
taking some profits if an investor who’s been accumulating bitcoin and hold for over this period of 10 years and have gotten to his accumulation target or even over accumulation.
yeah, but "taking profits"? Is that really how you think about the matter?
Because sometimes within this period of 10 years of consistent accumulation and investing, it’s possible that this individual has been retired from his job and at such he doesn’t have any more strength of working elsewhere, or couldn’t secure a job elsewhere to earn money due to age factors.
Fair enough. It could be that by the time that a guy has been investing in bitcoin for 10 years, then maybe he is no longer working. But then is that taking profits? or just selling portions of his BTC within some parameters that he might consider reasonable and/or not overly depleting his stash?
If you are thinking about "taking profits," then aren't you going to get diverted into selling bitcoin with a hope of buying back cheaper?
So yea, this individual can resort to living up with his bitcoin investment profit and there’s absolutely nothing wrong with such if that be the case. He can apply the sustainable withdrawal method of taking his profit to be living off it while still maintaining his portfolio as he has already accumulated a decent amount of bitcoin and hold over the years, 10 years of consistent accumulation and hold isn't 10days remember.
Maybe you can provide some examples? How much bitcoin do you think that a guy would be able to sell if he were to arrive at such overaccumlation status, presumptively 10 years after he had started investing into bitcoin?
I think there're certain things you need to know before investing, you as newbie need to know the terminologies, like some key useful words [ DIP DCA e.t.c. ]and how they have been used, where and how you going to invest to avoid being scammed.
after being acquainted with those you can procced and invest without not wasting so much time and you get along with the remain things you might need to know while investing.
Remember there's not better time to invest as far as you are investing with discretional fund so wont comeback to sell anything you need money
Also remember there's not better time than now...
For a newbie getting into bitcoin i don't think those terminologies should be the reason he should spend another day learning before he gets into bitcoin especially when he has a guide. All they need to know is that they're going to be buying bitcoin at a consistent base for long term. That is basic enough for any newbie to start their bitcoin investment besides, learning those terminologies would not add any value to their first bitcoin accumulation. After their first accumulation then they can go ahead to learn some of those terminologies or as time progresses they can now spend some time to learn other things concerning bitcoin as well.
I would like you to think of it this way, currently bitcoin is in a big dip and nobody knows when price is gonna retrace back up, and this is the best time for anyone to buy bitcoin most especially for newbies who are just making up their mind to get into bitcoin. Hypothetically speaking, if you tell a newbie to read about those terminologies and understand them, it might take him a day to get to a satisfying point of understanding and if price within those hours make a huge retracements he would miss out that buying opportunities from where price was yesterday and that is why it is important for anyone to get started as soon as they hear about bitcoin.
From here, bitcoin prices could go up or down.
If a guy thinks that he needs to learn terminologies, then maybe he takes a day or maybe he ends up taking 6 months.
And, even though none of us needs to rush into investing into bitcoin, it still seems getting started at least helps to create some possible framework for active learning, whether the guy starts out with $100 or $10 or some other amount that is comfortable for him and his situation.
