Newbie bitcoin question

[BitNewbie999]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

[1714981999]

1714981999

[1714981999]

1714981999

[1714981999]

1714981999

[1714981999]

1714981999

[BrewMaster]

should u exchange them for cash(usd) or other coins?

i'm not going to tell you to sell or not because that is not what you should ask other people. but i tell you that if you decided to sell the only thing you should sell bitcoin to is fiat such as USD and nothing else. specially not any altcoins.

[joniboini]

The basic answer would be when you're in profit. If you want a detailed answer, I think you need to understand more about trading and stuff like that. Better learn on investing or babypips if you're interested in it.

Which video are you talking about? In short, if you're still in an open position then there is still a chance that you'll take a loss instead of profit when the markets move in the opposite of your position. Storing bitcoin in your wallet has no effect whatsoever unless you care about the fiat value. But if you plan on storing for the long term, saving on your own wallet is better than on exchanges.

[Murpheus]

1. what video are we talking about??

2. You have to choose your investment style, you can choose to buy and hold in your wallet for it to appreciate, or open a position and back it against another instrument, but dont try it with any leverage, you will lose it all

[AicecreaME]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

The most safest way I could recommend to you in order to know when are you going to sell your Bitcoin is after you're done in your Technical Analysis, after that, you'll be able to know the best position where you would enter your position in selling your Bitcoins. And about the thing if you should exchange them in cash (USD) only do that if you really need it or if the price makes an ALL TIME HIGH to make profits, if not, I don't see any reason why you should exchange them, it's better if you'll just hodl and chill.

[Sterbens]

exchange for stabilcoin, usdt, usdc, dai etc ... you can exchange it, but it can enter the market when you have bitcoin in your wallet, while the shipping fee is quite expensive for bitcoin.
so you sell in a market with bitcoin market conditions at its peak. You don't need to bother thinking about videos that we don't fully know, maybe you can share the link, so we know what the video means.

[haidil]

if you want to sell! just sell according to your needs. but if you don't need it better save btc will be the best investment. hehe

[YOSHIE]

Bitcoin can be described as an investment asset that you have, generally buying when the price goes down / low and selling when the price goes up, that's what trading and investment is called.

You must think that if you have ever bought a few grams of gold, if I had to explain how the gold buying and selling process would be too narrow a way of thinking, remote and urban people would know what gold is and how to buy and sell it.

If you understand what I'm saying, now you know what to do with the Bitcoin you have.

[examplens]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

First of all, don't listen to advice from anonymous people over the internet. It is your money if you lose it no one will refund it. it will only be your loss.
Don't risk more money than you can bear to lose.
Always check important things three times before sending any funds. Like price, deposit address, an amount which you want to send...
always do research well before entering a position.

next, track your portfolio related to one currency. Fiat, Bitcoin, Ethereum... whatever you think that have value in your case.
Withdraw profit whenever you can.

[ChiBitCTy]

Maybe never  ¯\_(ツ)_/¯ .. no one else can give you an answer for when you should sell anything at all, whether that's a stock, mutual fund, ETF or whatever.  You need to ask yourself, what were my expectations when I bought this bitcoin..that's the number one questions. 

It's also important to keep in mind bitcoin is NOT inherently and investment...so there are other use cases besides it having upside price potential. 

[OscarDavidson]

There are a lot of trading tools and tricks you can use to buy or sell. There are some simple strategies like scalping and news trading and some much risky and harder to explain ways like swinging during corrections or Algo trading. If you are a newbie to Bitcoin I would like to suggest you read more about crypto and different currencies, follow the most reliable news-platforms, and check the current price in the market a few times a day. I recommend you to check the article "Day Trading Bitcoin" published by EXMO recently. I've found a lot of new information for me.
However, you can always become a HODLer and just keeping your funds till the better day when Bitcoin will reach a new crazy high like it did not so long ago

[Hobo66]

Check the market position regularly on which way bitcoin price going. There are many senior bitcoin expert in bitcointak forum. Read their experience in bitcoin discussion and trading discussion. You will find accurate day to sell Btc.
Sell only when price of bitcoin reach at top than convert to Usd. After dump you can again buy BTC to gain more profit

[hartley]

You may sell your bitcoin when you are in profit or market shows that it will fall soon and you aren't sure that it will increase back, this is about risks, if you are ready to risk and maybe obtain a huge amount of money or analyze market and understand how trading works. I recommend you to read some books about tradings and market analyzing to be sure in your actions.

[tabas]

newbie here no hate.

Welcome.

Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?

Depends on your vision and plan. If you see that it's necessary for you to sell right now as long as you're in the right time and profit, you're free to sell it. And if you're going to sell it for cash or another coin? just as I've said, depends on your vision. Are you visioning that the profit you've made in bitcoin is needed to be invested into another altcoin or you just take the cash plainly and spend it?

+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

What is that video you've watched? what you need to remember all of the time is you need to hold your bitcoin into a wallet that you own the private keys.

[Bitcoinislife09]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

Do you mean the position in trading?

The difference is when investing in bitcoin you could just buy bitcoin and then put it on your wallet and then just wait for the market price to pump to get a profit in bitcoin investment. But if your trading and wanted to multiple your investment in just a small amount of time you could open a position in the market almost like uphold or downhole in the market is basically a gamble whether if the market price is going up or down in the market if you could predict that you could make a good profit easily with the x10 x20 or even more but the downside is if you have a wrong prediction your money could get liquidated meaning it's gone so it's risky compared to just buying bitcoin.

[Mistafreeze]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

When you should sell is should entirely be your own decision. It is common sense that one will sell his coins at price higer than his bought price.
Also if you are newbie to trading, do not put big amount as you may lose all your funds since crypto market is highly volatile.

[verita1]

If you have the need to sell your bitcoin and you have no alternative, I would recommend that you sell a (%) and convert it into an altcoins. For every time you need fiat, trade just for your needs. That way you would not sell your bitcoin and you would keep your assets in cryptocurrencies.
Bitcoin is showing its maturity, its volatility is decreasing, so we can see that its price remains in the 30 K range.

[Peanutswar]

It depends on your profit because sometimes there are people already settled with a low amount of profit and some of them want to hold for a long time and risk everything just to earn a lot. If you are holding a bitcoin into an exchange it's not recommended because you can't handle the security of your money if you want to convert why not go for USDT so it's stable nothing to worry but for me, it's better to choose to convert to your current currency.

Always keep aware of the market signals and use a technical indicator so you won't get lost on ATH or downtrend and dumps.

[raji1995naya]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

So the first thing in crypto field (as per my knowledge) You have to collet satoshis much as you can. The unit that measure the wealth in the crypto industry is satoshi. ask when to sell

Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?

The thing is you have to sell BTC at a major resistance levels. So you can place sell order in just below major resistance. Most of the time Thse currencies are respect to support and resistance.(it is not 100% accurate) .

[pakhitheboss]

newbie here no hate.
Can someone explain to me when should you sell your bitcoin positions and should u exchange them for cash(usd) or other coins?
+ what is the difference if i have my bitcoin in wallet or in open position like he has in the video. thaks alot

I hope you have read all the comments by the members here and if you have got the answer to your query it is better to lock this topic to avoid spam comments.