Taking Bitcoin profit in the bull run | Please Share your strategy

[btcwish1]

Dear friends,

I thought it will be useful to someone like me to start a thread for discussing about taking profit from the bull run. I understand there are some who will never sell/take profit from BTC and they will HODL.  I respect that and that's what I followed for last several years and didn't ( or couldn't) take profit from last 2017 bull run.

I think it was foolish on my part to not take any profit from last bull run. if i did, I would have more BTC by now. But I am thinking a bit differently this time. So, here are my strategies:

I want to increase my BTC holdings and NOT Fiat holdings. So, I am planning to sell 5-10% of my btc holdings at the top with a profit.  The price target will be different for different people depending on the price you bought your initial BTC with. If you think you are making a loss then don't sell.

Watch the market and try to buy back BTC with a lower price. No one can predict BTC price but from previous charts it looks like after ATH BTC will correct to bellow previous ATH. So for example if this bull run BTC goes to $25k, then there is a chance that BTC will go back to $15k range. But again there is no guarantee and BTC can surprise everyone.

I am still researching as to sell the BTC for fiat usd or stable coin such as USDT. For the time being I am keeping it in Fiat in the exchange. Because I still didn't mange to find the benefit of a stable coin because I do see sometimes stable coin goes below $1 so it means I will loose money if I keep on a stable coin. But please advise if you think differently.

I am sending 5-10% of BTC to Kraken from hardware wallet and do the trade there. Once I manage to buy back BTC I will bring them over to hardware wallet again. The price in Kraken seems reasonable and they have the auto trade option where you can set the price target etc. i am sure other exchanges do that as well.

Please feel free to correct and suggest your strategies and it will be beneficial for all of us.

Thanks 

[Rodeo02]

You are not the only one lol . More of investors that time forget to take profit for the reason that they expect the value to increase even more. and others are afraid to leave and can no longer rebuy back in case the price goes up.many have learned so far and I think most people already take profit when we hit ATH and just waiting for the price to go down to buy again.

[Husires]

The profit strategy from the rising market is considered by many as their opportunity, but to be honest, profit occurs when everyone is unwilling to the price. Then you can buy at low levels at $ 3000 and wait until the price rises again for sale, now is the time to sell.

you can buy with price stable and before resistant levels and sell when make +3% profits when rising or falling

[jossiel]

It's a good strategy. Selling around 5%-10% of your total holding during the peak is reasonable. And keeping it in fiat which means that you're ready to buy back just in case you started to see its downtrend.

You'll take the profit with you and you'll have the entire BTC that you once sold. It is correct that if ever you're at loss, don't sell. It's a mental game during sell-offs. It's either you regret selling at any price you desire and mostly at the peak price or you regret selling early then the price goes higher after you've sold.

[Oshosondy]

The price of bitcoin is difficult to predict for now, bitcoin price is resisting $20000, but also having good support at $19000. For now, the holding strategy seem not easy for me because I can not hold for now. I think it will be good to just still have your profit in stable coin like USDt or in fiat like you commented because it is possible that bitcoin will break $20000 and the remaining bitcoin you are having will continue to rise while you gain more while if falling, you will have the USDt or fiat as the safe haven.

[DeathAngel]

Nobody knows what the top will be so it makes sense to do staggered sells all the way up. Maybe sell a certain % starting at $25,000, a certain % at $30,000 & so on. It’s being predicted we could see six figures per bitcoin by the end of 2021. Never sell all your bitcoin though & try to buy some back with the cash you got from selling. The price always drops a lot from the peak during bear markets so buy back too.

[qwertyup23]

Look at the price index of bitcoin and check the changes on its price on the following week.

You should be able to at least forecast its price by the end of this year's quarter and from that, you should decide whether to sell or acquire more bitcoins for the future. Though no one can accurately predict its price, you can check the information, news, and other related data that may help you decide whether to acquire more. Given the continuous bullish run of bitcoin, I highly suggest to HODL and to save your remaining BTCs and wait until the first quarter of 2021.

[milewilda]

Buy low Sell high!
Common strategy but doesnt mean that it would be simple.Im not really that minding much about bull run yet as long this market does have volatility then
i would really be making out some money exempt to those people who are holding for a while or years now with their stashes on where these bull run
events would really be important to them to take profits but for those people who do actively trading then it wont really matter much.

Just play with the price movement and you can potentially make out profits but somehow expect the risk would be more compared if you do
just simply holding.

[gentlemand]

We only know when the peak was a substantial amount of time afterwards and perhaps 20 people on the planet manage to sell at that moment. There's no way I'm clever or patient enough to time markets that way. Every time I though 'yup, this is it' it carried on upwards.

Similarly buying back at the right moment can be well over a year afterwards. I would've caved long before then. I really don't think most people have the psychological equipment to do it right.

My strategy will be to get rid of 50% in return for a figure I've settled on. I won't buy back and none of that money will ever return to BTC. After that I won't sell anything again.

[hatshepsut93]

Trying to sell before the bubble is about to pop is nearly impossible, what you should aim for is to sell at any price higher than the next bottom. Anyone who entered the last rally below $3k and sold at any later point of the rally could have increased their BTC holdings by buying the $3k dip.

The more BTC you sell, and the closer to the top you sell, the more BTC you can buy back later. So, continuous selling is a good strategy for this. For now it's better to wait and see how this bubble will develop, because there's a chance that the bottom of the next bear market will be above $20k, so now is still too early to sell.

[aioc]

I want to increase my BTC holdings and NOT Fiat holdings. So, I am planning to sell 5-10% of my btc holdings at the top with a profit.  The price target will be different for different people depending on the price you bought your initial BTC with. If you think you are making a loss then don't sell.

Watch the market and try to buy back BTC with a lower price. No one can predict BTC price but from previous charts it looks like after ATH BTC will correct to bellow previous ATH. So for example if this bull run BTC goes to $25k, then there is a chance that BTC will go back to $15k range. But again there is no guarantee and BTC can surprise everyone.

We are all curious on how this next bull run will play out, it could be different from the last time, there are many write up that Bitcoin will have a correction but will eventually go to the moon or it will steadily climb further, there's a lot of speculation how the price will turn out and the movement, this is why people are very excited every passing days, there's even a contest launched by Coinmarketcap and the date where Bitcoin will hit $20k and I'm sure many people are also betting on the price.

[Wysi]

Everyone will think of same but it's not as simple as it looks because market doesn't go as per our wish or prediction because most of the bull run and bear market have taken place when it was least expected, it's really difficult to guess the breaking point or rock bottom to cash in or cash out. We can just go with the flow and make multiple trades based on market situation.

[Fortify]

I think for anyone who has a sizable amount stored in Bitcoin and holds it as their primary asset, would be sensible to sell a bit of their bitcoin off while it is hitting all time highs. Even if you are expecting it to go even higher, it would be a good idea to take 25-50% if you have doubled your money so far and invest it in things that are totally unrelated to crypto currency (e.g. stocks, property, gold or other stores of value). That is just common sense and would protect you against any sudden and sharp drops in future which might totally out of the blue. Diversification is a practise followed by most rich people and helps to protect their wealth in volatile times like we are in right now.

[DoublerHunter]

^ Similar to OP everyone does, for no one can prognosticate what will happens next and where this bull run will take us. I probably still consider that OP's thinking is still far from FOMO and the strategy that you mentioned is a pro for this is one way that will enrich our investment rather than gaining profit and later will have a lesser chance of buyback. I must agree that 5-10% of your BTC is enough because we cannot be complacent that after this bull there will be a dump or a correction afterward in that case the remaining 90-95% will still grow while treating the percentage that you sell or you converted to a stable coin will be the sweat of your hardship as compensation in return. Cheers bud.

[smyslov]

I want to increase my BTC holdings and NOT Fiat holdings. So, I am planning to sell 5-10% of my btc holdings at the top with a profit.  The price target will be different for different people depending on the price you bought your initial BTC with. If you think you are making a loss then don't sell.

Watch the market and try to buy back BTC with a lower price. No one can predict BTC price but from previous charts it looks like after ATH BTC will correct to bellow previous ATH. So for example if this bull run BTC goes to $25k, then there is a chance that BTC will go back to $15k range. But again there is no guarantee and BTC can surprise everyone.

Don't feel bad if you want to take profit it's ok to do that even if people don't like it, when it comes to buying and selling it's everyone for himself, once you realized your profit, once you think that there will be a dip even if majority thinks otherwise, every investor decides for himself although we have seen investors just following the thread, as long as you are not worrying on your investment, that will be ok.

[pooya87]

For majority of people the strategy is to spend their bitcoin instead of selling it whenever its price goes up. That is why the payment processors report a huge increase in the number of transactions they processed during bull runs.

For the rest it depends on their strategy, the short term traders would sell on each small rise and buy back in its correction while the long term investors would only sell in biggest rises and near the peak of the bubble to buy back in the bigger crashes instead.
All of this doesn't have to happen exactly at the peak and exactly at the bottom, it can be multiple buys and sells in multiple price levels close to peak and bottom.

As for what to sell bitcoin for, you have to know that no centralized altcoin can ever be trusted and they are extremely risky no matter how big or stable they are. Fiat should be the way to go as much as possible.

[Poker Player]

In my case, I opened a thread asking for advice and as I result I decided that I will sell (rather spend, as poyaa87 says) around 25% of my bitcoin when it reaches the equivalent of a certain amount in fiat. That will be when the price is higher than 20k but between 20-25k, I haven't worked it out exactly.

Then I will set some more milestones as the price increases and I will sell/spend the same percentage, so I will always remain invested. This means that if we go into a bear market again I won't sell any (unless it is a life or death situation).

[ethereumhunter]

In my case, I opened a thread asking for advice and as I result I decided that I will sell (rather spend, as poyaa87 says) around 25% of my bitcoin when it reaches the equivalent of a certain amount in fiat. That will be when the price is higher than 20k but between 20-25k, I haven't worked it out exactly.

Then I will set some more milestones as the price increases and I will sell/spend the same percentage, so I will always remain invested. This means that if we go into a bear market again I won't sell any (unless it is a life or death situation).

At least, you know when you should sell your bitcoin and make a profit. Many people even don't know when they need to sell their bitcoin because they want to sell at the highest price, but they don't know the right price. It will be important to have a plan on when we should sell bitcoin in the next bull run because if we don't have a plan, we will miss the chance to sell it. Maybe we don't have to follow other people's suggestions if we don't analyze first, so we don't make a mistake in selling the bitcoin.

[bittick]

Everyone always make the same mistake expecting the bull run to continue while it's actually already on its peak. The ultimate strategy people use by taking off profit from the bull run is always sell when the bullrun happening and buy when the market is bearish but people just couldn't control their emotion you know.

Anyway, USDT is basically the same as fiat if you think from its value. They indeed sometime goes down well below $1 but it's gonna increase again. The market gonna fix itself.

[Mahdirakib]

You have said it all, the simple strategy is buy at low and sell when the price reach higher. Determine the appropriate time of this circle, which is the hardest part to do. You need to stay active always for observing the market and price movement. Stable coin price don't change much, though all together it may cost a bit. Personally I like to hold for long time.