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Author Topic: What Is Best Course Of Action?  (Read 368 times)
worldtraveller321
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August 05, 2020, 08:37:58 PM
 #1

Just a question to ask for advice. Right now with all the markets they way they are. Bitcoin is always in the upward in the market.  Of course it has periods of going down. But crypto market is doing quite well in these times.

I am asking what is the best course of action?

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?

Need suggestions and advice. thanks

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August 05, 2020, 09:09:37 PM
 #2

How long do you want to keep it for yourself? Are you aiming for a long term hold or you just want to ride the wave and will eventually sell. Determine yourself if you have plans for a lifetime and you can hold for about more than 1-2 years or more.

I've said lifetime but it doesn't mean that you shall hold forever. It includes you selling at the best prices ever if we reach all-time highs again. Do you trade and you are ok riding the daily volatility? it's all gonna depend on you.




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August 05, 2020, 09:24:36 PM
 #3

You shouldn't take any of this advice from someone who's not a financial advisor or well versed in finance.  To truly answer your question we'd have to know your entire financial situation.  Without knowing that, could lead to making some very costly mistakes.  You need to make sure your entire financial portfolio is established and that you're on track to your retirement goals ( assuming you've yet to retire).  Can you afford to buy more? That's the main question to be asking to start off.

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August 05, 2020, 09:48:53 PM
 #4

It depends on you on how you do deal with it as long you do make profits then thats the thing matter most.How long you do plan on keep holding? If you do talk about future years to come then buying
continously no matter what the price is will be not really an issue but if you do plan to sell off on a short span or duration then its always better to trade actively
and wait up for the right price position.

Cryptocurrency might not really been affected much on economic crisis thats happening due to pandemic but we cant really say that this market do always tend to go up.
Of course a healthy market will really have ups and downs and that what makes money for people who do trade up.

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August 05, 2020, 09:59:08 PM
 #5

In my opinion, You're in the best position to make such decisions. There's only 2 ways this could go:
1. You don't sell to stable coins (USDT et all) and Bitcoin price drops, you leave money on the table by not selling the high and rebuying the dip.
2. You sell to USDT and Bitcoin continues the ride without you on the train.


I've been there. Trust me, You can either take advantage or not. There's a risk attached to any side of the market you take. Making decisions is one of the things you have to do as a trader.


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August 05, 2020, 10:08:30 PM
 #6

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?
Trading requires knowledge of technical analysis to be done profitably as one would need to be able to read market movements and predict the next price movements. It also comes with its fair share of risks

Long term investments require less skill, more trust in the fundamentals and lots of the patience.
The choice of which is preferable is dependent on you and your abilities.

Just a question to ask for advice. Right now with all the markets they way they are. Bitcoin is always in the upward in the market. 
The market may be somewhat bullish, but Bitcoin is never really in upward movement. There is always volatility including drops in price.

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August 05, 2020, 10:41:34 PM
 #7

Just a question to ask for advice. Right now with all the markets they way they are. Bitcoin is always in the upward in the market.  Of course it has periods of going down. But crypto market is doing quite well in these times.

I am asking what is the best course of action?

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?

Need suggestions and advice. thanks

The best option seems to be buying and hodl when it reaches the top by not getting too greedy every take profit is the best thing. We have entered the bull market where Bitcoin and the Altcoin Segelitir rises. And a chance to ping pong or hold it to get a little more profit.


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August 05, 2020, 10:58:38 PM
 #8

Just a question to ask for advice. Right now with all the markets they way they are. Bitcoin is always in the upward in the market.  Of course it has periods of going down. But crypto market is doing quite well in these times.

I am asking what is the best course of action?

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?

Need suggestions and advice. thanks

The best option seems to be buying and hodl when it reaches the top by not getting too greedy every take profit is the best thing. We have entered the bull market where Bitcoin and the Altcoin Segelitir rises. And a chance to ping pong or hold it to get a little more profit.



It depends from how you understand and what strategy you have in pointing your decision.

You need to check and balance every entries and exit that
you'll going to take, it's always have the risk but once you
made the right position, for sure you'll gain good benefits
from this business.

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August 05, 2020, 11:06:38 PM
 #9

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?
You can hold but buying is not advisable at this time, it's not an opportunity to buy now, but to sell, however, if you don't have enough to sell, maybe you can buy if you really into long term investment as we never know what would happen, price could go down unexpectedly.

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?

Need suggestions and advice. thanks

If you have funds for long term and short term, betting try to trade as well, actually if you do better in trading, you can easily grow your money, so both I recommended and trading can be both applied in this situation.




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August 05, 2020, 11:33:38 PM
 #10

How long do you want to keep it for yourself? Are you aiming for a long term hold or you just want to ride the wave and will eventually sell. Determine yourself if you have plans for a lifetime and you can hold for about more than 1-2 years or more.

I've said lifetime but it doesn't mean that you shall hold forever. It includes you selling at the best prices ever if we reach all-time highs again. Do you trade and you are ok riding the daily volatility? it's all gonna depend on you.

That decision is to be determined by him, is he here for long term or short term?
Either way, he should know the basic rule of trading -buy low, sell high.
Just keeping this simple rule at all times when he's in trading will give him profit, whether small or big.
So in my opinion, whether he will practice this trading rule in short term or long term, he should not be in the losing side.

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August 05, 2020, 11:49:51 PM
 #11

Just a question to ask for advice. Right now with all the markets they way they are. Bitcoin is always in the upward in the market.  Of course it has periods of going down. But crypto market is doing quite well in these times.

I am asking what is the best course of action?
Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?
Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?
Need suggestions and advice. thanks
Noone knows how Bitcoin price will be but i can assure you "trading is back and forth to stable coins" is one way to disaster.
So many people lost most of their BTC because they tried that, switching their BTC to altcoin and back, loosing 70% of their BTC in the end.
Bitcoin is a thing, not single coin after it is worth much.
Bitcoin price is good now same as gold. Its store of value for difficult times like now.
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August 06, 2020, 12:40:53 AM
 #12

Of the best course right now, is to buy and HODL rather than sell prematurely your coins that might even a higher price, its better to wait and see how much the price may surge.
Because if you continue to buy and sell, you'll lose more than you gain due to the price get much expensive and selling it for cheap is definitely a bad trade.

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August 06, 2020, 01:06:31 AM
 #13

It is all up to you. You should follow your own instinct. If you think it is better to hold or better to convert it into stable coins, whatever you decide to do, at the end of the day it is your own bitcoin. We can give you advice but since all of us here have different point of views, our comments will just lead you into confusions.

Follow what you think is right. Do not fall for this market upward movements, anytime soon it will bounce down. And havent we are aiming for the profit as our goal? Being greedy  is not good.
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August 06, 2020, 01:11:39 AM
 #14

Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?
If you do this, you should learn how to trade, learn some basics of trading, technical analysis or fundamental analysis.
Much better if you learn the technical one, learning the basics of the chart, candlesticks, different indicators in chart or some bullish/bearish pattern within the charts.
For me, if you will do this, the risk is there but you can also gain more profits here. But if you HODL, the risk is much minimal.

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August 06, 2020, 01:20:58 AM
 #15

I would NEVER hold or trade any stable coins.  Most (if not all) stable coins at this time are scams.


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August 06, 2020, 03:00:29 AM
 #16

Listen dude, no one ever knows what will happen in future.
The only thing we can do now is just to calculate and estimate.
And as far the price of the Bitcoin is concerned, then it depends on us.
Bitcoin follows the rule for Supply and Demand.
So if the demand is high then supply will be less, for which price will be high, and if the demand is low then the price will also fall.
If you want my opinion, then you should just Keep your Bitcoins and store it for future, i bet it will surely rise and give you profit.

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August 06, 2020, 03:23:29 AM
 #17

if you hold bitcoin, you have a chance to multiply your bitcoin by trading with several altcoins that follow the bitcoin price, there are some of the top altcoins that are really good to invest in, I can't pick them for you but you can find out more about the altcoin project. what you want to invest, as usual that every time a bitcoin halving occurs there will be an increase in the next year, so don't miss it
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August 06, 2020, 03:47:10 AM
 #18

Should I just keep buying and HODL and keeping my Bitcoin for a rainy day?
Or is trading is back and forth to stable coins and trying to make more gains a good action plan too?

both of these are viable options and which one to choose depends on you, your strategy, your risk taking and most importantly your experience in the market.

for example i personally don't like day trading bitcoin, but i usually trade it during times when the market is most predictable and there is a big move going on. i also do that with a small portion of what i have.
but i focus a lot on day trading altcoins because they are created only for pump and dump it makes them good for short term trading specially when bitcoin price is moderately stable otherwise when bitcoin is rising they get dumped so i stay away.

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August 06, 2020, 04:03:28 AM
 #19

This is just my couple of Sats so take it with a grain of salt.

I think Bitcoin at almost $12,000 is not a buying price unless you intend to HODL it indefinitely until the price will go way far higher than that. If you are aiming for the shorter term, it is my hunch that the price will still go even lower than 5 digits in the weeks or months to come and so you better wait for the solid red days.

I admit I am using USDT to trade with BTC during large swings. That is to minimize possible losses when trading with altcoins. This is what I do but don't take this as my suggestion or advice. A lot of people discourage others to even consider trading stablecoins especially USDT.

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August 06, 2020, 04:18:41 AM
 #20

How long do you want to keep it for yourself? Are you aiming for a long term hold or you just want to ride the wave and will eventually sell. Determine yourself if you have plans for a lifetime and you can hold for about more than 1-2 years or more.

I've said lifetime but it doesn't mean that you shall hold forever. It includes you selling at the best prices ever if we reach all-time highs again. Do you trade and you are ok riding the daily volatility? it's all gonna depend on you.

That decision is to be determined by him, is he here for long term or short term?
Either way, he should know the basic rule of trading -buy low, sell high.
Just keeping this simple rule at all times when he's in trading will give him profit, whether small or big.
So in my opinion, whether he will practice this trading rule in short term or long term, he should not be in the losing side.
Very simple rule yet hard to maintain because if he will depend on his emotion, that very plain and simple rule won't be followed. I have struggled to follow that buy low, sell high golden rule when I'm kind of new on it.

How can he determine the losing side? through experience. He needs to furnish it and have to learn the basics and also accept the possible losses that he will incur with his strategic planning.




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