When to take profit from your current bitcoin holding.

[Vishnu.Reang]

The most important thing to remember here is that you don't need to sell all of your coins at once. You can have multiple targets and you can sell small amounts when each of these targets are achieved. This will reduce the risk of losing out if BTC spikes to six-digit figures in the future, and also it will reduce the overall tax bill as the profit booking is spread across many years. I have followed this strategy ever since I first made my investment with BTC (2017), and it has benefitted me greatly.

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[DarkDays]

Bitcoin holds a special place in our investments. Since it is constantly growing in price over a long period of time, it is generally not advisable to sell it. If we want to have additional profit, then we can sell it partially at clear peak prices and buy at obvious low drops. In all other intermediate cases, our actions will be almost random in terms of profit.

I agree. The long term prospective of BTC is a prosperous one. So, unless you're in for the short ride you don't need to worry at all about the market situation.

Just come back in 2-5 years time and then you'll be happy you held.

The constant stress and worry with this strategy is just not worth it 

Get the strategy right, and plan accordingly, then nothing can hurt your portfolio

[XZERO1]

I want you to comment on this scenario, when should one cash out, as the volitality of the market is very scary.

What's your advice? Is it keep holding? What if keep holding means holding at a loss?

Maybe cash out half and keep the rest for the possible next move/s up?

There's no definite answer to these kind of questions, but it makes way more sense to take profit at least partially just in case it starts going down, so you don't lose all the profit you made at this point, nothing will go up forever and correction are a part of every market and you don't want to end up panic selling when that happens.

[giantrobot]

It is all about the need, and not about the market rise. Myself too cashed out my campaign payment when the price was close around $36000. In a days time it has crossed $40000. What to do, I've met the need and if I had patience I would've got some extra pennies. No one is sure of the volatility limit as well as the peak value of bitcoin.

No one can know the peak value of Bitcoin. It can be up and then suddenly low down quickly. So I bought Bitcoin and kept them until I had the words I sold.

[geegaw]

It is all about the need, and not about the market rise. Myself too cashed out my campaign payment when the price was close around $36000. In a days time it has crossed $40000. What to do, I've met the need and if I had patience I would've got some extra pennies. No one is sure of the volatility limit as well as the peak value of bitcoin.

No one can know the peak value of Bitcoin. It can be up and then suddenly low down quickly. So I bought Bitcoin and kept them until I had the words I sold.

Well, culminating in a vague concept for a large project like bitcoin as it will deliver a lot of new value over time, if we are enchanted by the event, we won't find a time to take profits, hence the principle is to always take profits gradually and not to set any fixed profit targets in bitcoin. This may cause us to get a bit of a loss if we miscalculate our goals but in parallel with this mistake, we will be equipped with a certain security, at least the money will go to the wallet, instead of fluctuating everyday

[dificanovi]

I have taken advantage of the bitcoin that I have held for 1 year, I took it at the end of 2019. I have been holding it for 1 year and in 2019 I think is the right time to take advantage of the results of holding bitcoin. I still have bitcoins because I didn't sell all the bitcoins I have, I will hold it for the next 2 years. I continue to think positively about the development of bitcoin in the future, I am sure the price of bitcoin will continue to rise.

[AllGoodNamesAreTaken]

Now