What Is Best Course Of Action?

[Cnut237]

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?

It depends on how good you are at trading. If you haven't done any before, then try trading with small amounts and see if you can make more profit than loss.
One compromise strategy is to generally hold, but then whenever there is a huge and obvious market downturn, sell everything and buy back in at a lower point... so you are trading infrequently, but over the long term still make a considerable profit.

[veznata]

forget about trading. just keep your bitcoins and cash out the next year or when price increases significantly and then buy back when prices dumps. always remember Buffett words "you should be fearful when others are greedy and be greedy when others are fearful". set your target and cash out when prices goes up and up but it is alreadyvery high. don't be greedy waiting for the peak. that's it.

[Lorence.xD]

forget about trading. just keep your bitcoins and cash out the next year or when price increases significantly and then buy back when prices dumps. always remember Buffett words "you should be fearful when others are greedy and be greedy when others are fearful". set your target and cash out when prices goes up and up but it is alreadyvery high. don't be greedy waiting for the peak. that's it.

Why not do both? Why always do choices when both is doable? In my opinion, daytrading is also a good thing because they are missing out with some of the profits that they can make, you can use the earned profit to fund what you are planning to hold. It is not always a bad thing to join the crowd, try to blend in and do more things than the normal, sometimes a little widening of perspective goes a long way.

[Poker Player]

Seriously?

When it comes to money, you should make your own mistakes.

Asking that question tells me you don't have the right mindset.

Nobody knows what the best course of action is. You'd better educated yourself and make a decision.

[fiulpro]

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

Hello ,

I do think you should sell a part of Bitcoins , this way you can save some of it for the future and even earn a little profit right now .

See it would be really hard to follow anything right now , therefore you should calm down , look at your expenses , see if you can afford any upcoming loss.

Because when the market goes up , there are fair chances that it will fall down really fast too . Therefore I do think you might have to follow through the news every now and then .

If you do need money right now , you should definitely incash. But at the end of the day no one can tell you what to do. Best of luck for the future.

[Ridwan Fauzi]

First of all, you need to choose to become a trader or investor. If you just focus on investor especially long term investor you may just need to depend fundamental analyst. Reading news everyday so as you will have a choice to keep hold your coin and sell them because the price will go down.

But if you choose to be a trader maybe you need to combine between fundamental analyst and technical analyst, based on that your money will slightly save. But I myself will suggest you to become a trader, so as you will know the price action everyday.

[Janation]

What is your plan though?

I think before you ask us you should have a plan first since you can't just put your money blindly without any strat, right? Like if it reaches a certain price you will sell, something like that. Right now it is best if you can sell of them to get some profit you can use to reinvest if ever the price fell. You can also invest them into altcoins with a good possibility of giving you a profit.

[ololajulo]

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.

Your experience is enough to help the question. The sentiment is bullish and thats all we have been waiting for since December 201 when we got the low, there is also a cycle into the bull that we are getting close to, if he had waited this long he should wait further. In the bull market trading back and forth is the worst strategy

[hatshepsut93]

I would advice against trading, because this isn't something a beginner can do well. It requires a ton of experience and some knowledge, and I even may say talent to trade successfully and make profit. An amateur trader would likely lose money, and with how volatile Bitcoin is, it can be really easy to lose a huge portion of your stash. There's a subreddit called wallstreetbets, where mostly self-taught traders discuss their experience, and there's so many stories of people losing their savings or just huge amounts of money from trading stocks. Don't be like them, just hodl, it's already enough to get big returns if things will go well.

[koang]

HODL and trading Bitcoin are two good ways to get profit, but especially for trading if you are an expert, trading will be more profitable.
But the greater the potential profit that can be generated, the greater the risk

It's all up to you, but choose according to your own abilities

[thesmallgod]

You will need to define what you mean by a rainy day. The reason why many people lose in trading is that they do not set a target, have unrealistic targets, or are swayed to changing target due to their future expectations. If you are planning to hold for a long time, the past and present price you bought your bitcoin and how long you have been holding will determine your action. To cut the story short, you are the right person to determine what to do at this moment because no one knows your budget, monthly expenses, and expenditure but do not let the current drag you to making wrong decision because nothing last forever   

[Shasha80]

A good market condition like now is indeed difficult to make the best decision. And I think everyone should be brave
make decisions without being influenced by the opinions of others. Now our analytical skills as traders are tested, myself
have confidence that Bitcoin will continue to rise and return to all time high prices. So I will continue to buy bitcoin and
hodl until Bitcoin reaches a price of $ 20,000. Please don't be influenced by the actions I take, because the risks are quite large.

[Zackgeno96]

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

You can get burned in this market if you are new in trading crypto and start trading in BTC/USDT market pair because everyone is predicting the price to go up but no one knows what is the upper limit of the price, your best bet would be to become attentive and when the traders are saying that this is the max bitcoin can go then sell your small portion of coins and then wait for the price to dump, if it really dumps then sell all your coins and if the signal was false then you would still be having bitcoins with you. But the more important thing in the big picture is to always buy bitcoins whenever you can no matter what is the price of bitcoin in the current market in future when bitcoin is at $100k then this $11k price will seem to be a bargain that you are getting now.

[erikoy]

A good market condition like now is indeed difficult to make the best decision. And I think everyone should be brave
make decisions without being influenced by the opinions of others. Now our analytical skills as traders are tested, myself
have confidence that Bitcoin will continue to rise and return to all time high prices. So I will continue to buy bitcoin and
hodl until Bitcoin reaches a price of $ 20,000. Please don't be influenced by the actions I take, because the risks are quite large.

Yeah, I think one should be contented on what he can gain. There is no fast and easy money here but pretty sure one can earn. This is why we need to be patient when it comes to market volatility. Just like what happen to 2018 where market crashes and many had thought that it is the end for bitcoin. But see what bitcoin now, it made a good comeback after a year so in this case a yearly base investment will be okay as long when one sell bitcoin should have profit at least no matter how small it is or just when the target reach that might be good already. But if one wanted to risk more then one can wait and definitely bitcoin is not going down for it is always going up as what we have been observing since it began on 2013 I guess(not pretty sure).

[Assface16678]

I think it depends on your objective but with the use of the basic style to earn bitcoin is buy when the market price is low and sell when it comes into the ATH.

Still, it depends on your technique also you can choose right now because the market price of the coin is leading towards into the 11.7k you can buy this market time and then wait for the price of the coin reaches over 15k dollars if you think you already have a profit you can pull it out just easy concept.

Or

You can make a trade daily or weekly with your bitcoin ( not only the bitcoin pair) and then set a quota to your income by that you can still be earning profit while the market movement is increasing.

IMO, I'm tired of making trade, and its just fine to me to wait for a long time I choose the first option.

[audaciousbeing]

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

A lot of people I am sure would have expressed their opinion on the subject matter but if I am in your case and to make that decision, I would take my eyes away from BTC yes it's the highest but the percentage increment is a concern for me and as an investor, the ROI is a very potent factor. So, other coins ROI would surely bring more return than bitcoin both in the short run or long run in my opinion.

[gentlemand]

I can categorically state that if I'd traded back and forth I'd have a shit ton less than I do now.

Gawd knows why most newcomers arrive believing 'trading' is the best course of action. Almost all of them will fail if they keep doing it.

If you believe you have enough knowledge and mastery of your own emotions then go for it. You won't find out that you do not until a very expensive moment has already been and gone.

[pixie85]

Trading is a good idea if you know what you're doing. Most people don't and end up losing money so be careful with this.

I always tell people who ask if they should start trading to take $100 or a similar amount that they're comfortable playing with and trade for a few weeks. If in the end they manage to earn even $1 they're on the right track and can start slowly increasing the traded sum.

I don't have time to trade anymore and I'm scared of keeping coins on centralized exchanges. If you want to choose the safe way this is the thing for you.

[online73]

I fully agree with those who advise you to learn how to understand the crypto market yourself, because such questions are most likely asked from a lack of experience. Anyone who advises to do one way or another - will advise based on their experience and their mistakes. Any person has their own plans, in case something goes wrong. I myself constantly watch various predictions and tips on YouTube. But, the conclusions are very simple, for the most part all these predictions and advice are failures. The authors are very easy to get out - today they give two opposite points of view, and tomorrow they say - I told you so. But for some reason they forget to say that there was no specific scenario. This whole topic concerns not only cryptocurrency, but life in general. I always tell my children - live your life, make your own mistakes and analyzing them - boldly move forward.

[NavI_027]

Mate, everything depends on how much knowledge you have, how much you need money right now and how much you are willing to risk with no guaranteed profit in return.

Every investors got their own different stories so you cannot easily copy what others because it might be not well suited on your situation. But if you'll ask me, I am doing the first thing you mentioned. I keep on buying, actually i bought some coins yesterday despite its price go higher and higher. I'm catching up as much as I can so that I will gain greater profits just in case btc's price skyrocket before this year ends. .

See? Unlike other investors, I'm not bothered with the current price. How about you? Have an introspection and assess what's best move you can do .