Do you have a Bitcoin exit strategy?

[Bergkampsballs]

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

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[mk4]

Not really. My simple strategy is as follows:

1. Only sell bitcoin when totally necessary.
2. Continue to not spend money on unnecessary stuff.
3. Continue to focus on creating more cash flow to have more money to invest in assets.
4. Continue dollar-cost averaging weekly regardless of BTC price.
5. Price crash? Continue holding as per usual.
6. Only trade shitcoins with less than 5% of my total holdings.

Unless you're really experienced in the field of trading, chances are, doing the "sell now and buy back lower" strategy is just going to wreck you in the end.

[Little Mouse]

Sadly I had sold all of my holding very early, it was around 30k usd. However, I have reinvested all the USDT into altcoins and luckily I was able to get profit against both USD and BTC too. I was able to make 1.5x return so far against BTC pair.

[hatshepsut93]

I'm continuously selling small amounts every day. The price at the bottom of the bear market is very likely going to be below $30,000, maybe even below $20,000, so I'm going to end up with more BTC in the end. I learned my lesson from the 2017 bull run in which I didn't sell any Bitcoin - be fearful when others are greedy. The bubble bursts when no one is expecting, people will first think that it's just a correction, so don't rely on public opinion too much.

[Bergkampsballs]

Not really. My simple strategy is as follows:

1. Only sell bitcoin when totally necessary.
2. Continue to not spend money on unnecessary stuff.
3. Continue to focus on creating more cash flow to have more money to invest in assets.
4. Continue dollar-cost averaging weekly regardless of BTC price.
5. Price crash? Continue holding as per usual.
6. Only trade shitcoins with less than 5% of my total holdings.

Unless you're really experienced in the field of trading, chances are, doing the "sell now and buy back lower" strategy is just going to wreck you in the end.

I'd love to. Crypto has turned my life around but if most people are expecting the price to fall at the end of the year surely the fact that so many people are expecting it to is likely to result in a self fulfilling prophesy?

[tinopener]

The big thing for me is tax.

In the UK we have to pay Capital Gains Tax on disposing of assets such as crypto. Our tax year starts in April.

I was going to take my first little bit of profit this month, but I think I'll wait till next April because I can't be bothered calculating the tax this year.

However, I know there are tools like Koinly for doing this. I don't think my accountant would be very happy to do it, well not cheaply

[Bergkampsballs]

The big thing for me is tax.

In the UK we have to pay Capital Gains Tax on disposing of assets such as crypto. Our tax year starts in April.

I was going to take my first little bit of profit this month, but I think I'll wait till next April because I can't be bothered calculating the tax this year.

However, I know there are tools like Koinly for doing this. I don't think my accountant would be very happy to do it, well not cheaply

I've just set up an ISA and lumped into Argo Blockchain and KR1. Argo should go up along with Bitcoin (hopefully faster) and KR1 pick my alts for me and stake them.

[FIFA worldcup]

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Once the bull market is over, i will try to convert my majority of the funds to fiat and stable coins. This does not mean that i will quit crypto. This only means that i don't want to hold the coins in bear market and see my portfolio in loss. Instead i will try to invest in real estate or any other business which can give me regular income and also save money to buy back in the bear market.

[Asuspawer09]

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

Maybe it's just a different story when we talk about bitcoin, I think for now exit strategy is not the thing for now since we could expect a lot of companies to also invest in bitcoin, or expect for the market price to pump.

When you buy bitcoin it will be for long-term investment, for now, it's all HODL since we are still in the process of growing bitcoin.

And I think exit strategy is just useful in altcoins since that is where you could expect a big drop down in the market price after a few months or years.

[tinopener]

The big thing for me is tax.

In the UK we have to pay Capital Gains Tax on disposing of assets such as crypto. Our tax year starts in April.

I was going to take my first little bit of profit this month, but I think I'll wait till next April because I can't be bothered calculating the tax this year.

However, I know there are tools like Koinly for doing this. I don't think my accountant would be very happy to do it, well not cheaply

I've just set up an ISA and lumped into Argo Blockchain and KR1. Argo should go up along with Bitcoin (hopefully faster) and KR1 pick my alts for me and stake them.

I've got Argo Blockchain too in my ISA... but I'm a bit leery of them as they made 1800% profit this year already. I'm up about 150% already this last month or so though. I also tried doing a little bit of trading with them depending on the Bitcoin price, but the bid/spread price range is too great (I can't remember what sort of factors would cause that). It doesn't seem to follow the Bitcoin price directly either. There are probably lots of professional traders playing that one.

Keep the most in real Bitcoin though. Don't forget you get a £12k CGT allowance (or around that) on profits you make e.g. if you bought bitcoin at 10k and sold the lot at 21k, you still wouldn't pay tax.

Also, there are 2 new Canadian ETFs which hold physical bitcoin out this week. You obviously pay a bit of a charge on them though. You might soon be able to buy them in your ISA.

Thanks. I'll take a look at KR1  

[veznata]

HOLDING "forever" is not the right option. remember there will be sharp price decline once this bull cycle ends. everyone must stick to some plan. it looks like price will reach 6-digits this year. but things will change when it goes up and up and everyone is greedy. I plan to act like this. once it approaches 100K I will immediately sell 85-90% of my coins and will exchange the rest for tether. will pay my taxes and wait for the next dip to buy at least 60-70% of the amount of BTC i own today. I hope to buy at 20-30K after 2-3 years and ride the next wave which is expected to reach (as someone say) 500-1000K (even if it doesn't reach it I will not sorry). ALWAYS REMEMBER that all involved in bitcoin achieved ROI that no one in history has seen with such a low effort (just HOLDING). this is just my intention. everyone is different.

[Bergkampsballs]

Maybe it's just a different story when we talk about bitcoin, I think for now exit strategy is not the thing for now since we could expect a lot of companies to also invest in bitcoin, or expect for the market price to pump.

When you buy bitcoin it will be for long-term investment, for now, it's all HODL since we are still in the process of growing bitcoin.

And I think exit strategy is just useful in altcoins since that is where you could expect a big drop down in the market price after a few months or years.

Thanks for the advice. Maybe moving some of the altcoins into Bitcoin is a better strategy than completely exiting crypto to be fair.

I've got Argo Blockchain too in my ISA... but I'm a bit leery of them as they made 1800% profit this year already. I'm up about 150% already this last month or so though. I also tried doing a little bit of trading with them depending on the Bitcoin price, but the bid/spread price range is too great (I can't remember what sort of factors would cause that). It doesn't seem to follow the Bitcoin price directly either. There are probably lots of professional traders playing that one.

I'd say if you can, complement it with some real bitcoin through Coinbase. Don't forget you get a £12k CGT allowance on profits you make e.g. if you bought bitcoin at 10k and sold the lot at 21k, you still wouldn't pay tax.

Also, there are 2 new Canadian ETFs which hold physical bitcoin out this week. You obviously pay a bit of a charge on them though. You might soon be able to buy them in your ISA.

Thanks. I'll take a look at KR1  

Fair play. I only got on them recently but have tripled my investment since. I'm guessing that's why it didn't really go up on Friday along with Bitcoin but hoping that was just a little consolidation. Apparently there's a good chance that there could be an announcement that they will be going on the Nasdaq coming some time in the next couple of weeks so I'm gonna stick around. Thanks to Argo I'm well over the £12.3k threshold now, just hope it stays that way 

I follow KR1 on stocktwits as KROEF. You do get a lot of people who are overly bullish posting there but you can find some good resources from some of the posters.

https://stocktwits.com/symbol/KROEF

https://www.reddit.com/r/pennystocks/comments/lmnxez/kroef_defis_first_etf_multibagger_stock/?utm_medium=android_app&utm_source=share

[virtualdn]

HOLDING "forever" is not the right option. remember there will be sharp price decline once this bull cycle ends. everyone must stick to some plan. it looks like price will reach 6-digits this year. but things will change when it goes up and up and everyone is greedy. I plan to act like this. once it approaches 100K I will immediately sell 85-90% of my coins and will exchange the rest for tether. will pay my taxes and wait for the next dip to buy at least 60-70% of the amount of BTC i own today. I hope to buy at 20-30K after 2-3 years and ride the next wave which is expected to reach (as someone say) 500-1000K (even if it doesn't reach it I will not sorry). ALWAYS REMEMBER that all involved in bitcoin achieved ROI that no one in history has seen with such a low effort (just HOLDING). this is just my intention. everyone is different.

It depends. I'm hodling since 2013 and will hodl even more because for me BTC is a long term investment. But everyone should think for themselves and not force anyone into buying or selling. If you ask me selling so many coins at $100K is not a very wise move. Just because it may go back to $50K it doesn't mean it will stay there forever, think long term, don't get scared of the fluctuations. As for going back to $20K I doubt it will ever happen again, but again everyone knows best.

[Oilacris]

Hi, just to be clear I'm bullish as hell for the next few months but I think it's generally accepted that this bull run will probably come to an end at some point this year.

I'm wondering if people here are planning on getting out of crypto or significantly reducing your stake at some point this year and if so what your plan is and where you are looking at reinvesting your funds?

If you are being a hodler for how many years already then you would probably having the consideration on selling off your stash considering that $57k price is already a considerable
price for you to load off but if you do really go for more years then its up to your own risk management.

Of course, we should set our own exit plans and not just waiting up for the peak unless if you have been holding for a decade or since from the start then thats understandable
but if you do go for short term then i guess this is a right spot to sell.

Buyback later on when theres correction and repeat the same process.It might sound easy but its not.

[virtualdn]

But again... why exit? Who says you have to exit BTC? I don't like this strategy at all as a long term BTC hodler. I plan giving a part of BTCs as a legacy to my kids so not my cup of tea. As someone said above sell BTC only if you need those money, keeping money in fiat is not a very good choice anyway.

[veznata]

But again... why exit? Who says you have to exit BTC? I don't like this strategy at all as a long term BTC hodler. I plan giving a part of BTCs as a legacy to my kids so not my cup of tea. As someone said above sell BTC only if you need those money, keeping money in fiat is not a very good choice anyway.

so far BTC pass through cycles. this time will be the same. why HOLD forever when at the same time you don't invest in real estate or something else that wil bring you passive income as time past. BTC will not only goes up indefinitely. it is against all rules. bear in mind that there is some small percentage that government (even of leading countries) can ban it at some point. don't put all your eggs in one bucket. surely there will be opportunity to buy back at dip later on.

[vapourminer]

But again... why exit? Who says you have to exit BTC? I don't like this strategy at all as a long term BTC hodler. I plan giving a part of BTCs as a legacy to my kids so not my cup of tea. As someone said above sell BTC only if you need those money, keeping money in fiat is not a very good choice anyway.

this

a better question is do you have a fiat exit strategy.

[passwordnow]

You don't have to exit but when you do, make sure that you have no regrets. But as always, it's a free market that whenever you exit, you can always go back at your will. I have made mistakes in the past of selling at the early stage and that's not a small amount to spare for my feeling but I've just learned that it's best to keep yourself on track or leave a portion that you're likely to pursue and continue holding no matter how much you take for profits.
Take your profits if you really need them and you need to buy something for yourself. A car? then sell but I'll choose only to spend not more than 50% of my total holdings.

[aoluain]

Well the bull run may not end this year or next, who's going to be selling vast amounts of Bitcoin?

The buyers now are a mix of Retail  buyers and long term Hodl investors.

As mk4 states, Hodl, DCA and buy as much as possible works for me.

At some point I will have to spend Bitcoin because every last amount of FIAT
I own is gone into Bitcoin but generally I'm Hodling.

[Bergkampsballs]

But again... why exit? Who says you have to exit BTC? I don't like this strategy at all as a long term BTC hodler. I plan giving a part of BTCs as a legacy to my kids so not my cup of tea. As someone said above sell BTC only if you need those money, keeping money in fiat is not a very good choice anyway.

Sorry, I'm a big fan of Bitcoin and crypto but sometimes we've gotta do what's right for ourselves. I appreciate that might be frustrating for the true Bitcoin enthusiasts but I currently have everything I'm worth (and more TBH) in crypto assets. I think any major correction later on in the year could spook investors and set off a bear market that could end up in me losing a lot of money so it would be silly not to be thinking about reducing my risk at some point.

a better question is do you have a fiat exit strategy.

Yeah, get out and stay out. Already got the first part sorted, just gonna hodl what I need each month