Do you have a Bitcoin exit strategy?

[pixie85]

My strategy is to sell a bit so that I have some cash at hand for bad times but that's it.

I made some good decisions in the last few years like buying ETH when it was cheap 2 years ago and it gave me huge profit. That's going to be my first sale if I need money. Bitcoin is going to be held until I really need to spend it.

I came to realize that you can buy an apartment and rent it out but you won't make more than 10% a year this way. How about holding bitcoin and making 300% in 3 years? That's what I did between 2017 and 2020.

[1714592747]

1714592747

[MCobian]

With the Bitcoin price reaching above $ 50k, it won't be long before there will be a correction. Due to a healthier Bitcoin price increase,
price correction is required. And if that happens I won't panic, because every time Bitcoin has increased by $ 5000 I always sell some of
the Bitcoin that I have. So when a correction occurs, I can buy more Bitcoin from Bitcoin that I have sold before. Actually, I've been doing
this strategy since the Bitcoin pump at the end of 2020, and until now the strategy that I use is still running well.

[tinopener]

With the Bitcoin price reaching above $ 50k, it won't be long before there will be a correction. Due to a healthier Bitcoin price increase,
price correction is required. And if that happens I won't panic, because every time Bitcoin has increased by $ 5000 I always sell some of
the Bitcoin that I have. So when a correction occurs, I can buy more Bitcoin from Bitcoin that I have sold before. Actually, I've been doing
this strategy since the Bitcoin pump at the end of 2020, and until now the strategy that I use is still running well.

That's probably a good way to do it i.e. waiting for a 5k increase.

Is it exactly 5k from the last time you sold, and do you try to avoid round numbers like 20k, 25k 30k, because that is probably where a lot of people have limit orders (or a few hundred dollars before)?

[Peanutswar]

Depends on the situation if you are into short term trading you can use the technical indicators as a guide to your entry-level and exit level it depends on the profit too so it's all about your decision. If you are into a long term strategy why not holding your coin and check the graph once a week or make a sign only for the 12 hr or 1-day market candlestick so you have an idea if there is something reversal may happen or another bullish. Also, one of the best things is to always set a Take Profit/ Stop loss (TP/SL). Again bitcoin is a long term investment hold as you can.

[mk4]

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?

For every person that expecting a crash, there are also people that's expecting bitcoin to continue rising. While self fulfilling prophecies could happen, making trading decisions based off them might not be a good idea.

[btc78]

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?

My Plan is simple , I have already Put my exit amount to target but only Half of my Bitcoin will be taken out and the another 50% will remain even if this took me
Long years to recover again because i have been profiting to my altcoin
investment already and my Bitcoin is only for my Future risk so half is more than enough to cover all my capital and my effort since day 1.
So all in all i am enough for that target and maybe will change in the long future.

[matchi2011]

Depends on the situation if you are into short term trading you can use the technical indicators as a guide to your entry-level and exit level it depends on the profit too so it's all about your decision. If you are into a long term strategy why not holding your coin and check the graph once a week or make a sign only for the 12 hr or 1-day market candlestick so you have an idea if there is something reversal may happen or another bullish. Also, one of the best things is to always set a Take Profit/ Stop loss (TP/SL). Again bitcoin is a long term investment hold as you can.

Setting up your mindset within the target that you wanted to seetle both your entry and exit position is really important. Exit strategy
always depends from how you understand the market.

The more you dig deeper the better you understand, from that point, it will be much easier for you to sets your expectations, you should
be more on tracing things out before you decide your exit strategy.

[Innerpumper]

Even I myself was confused when it came in, When should we get out? What if we lose above 10% should we cut the loss? I'm trying to explore this, the most appropriate thing before buying or before selling there should be a target and patiently wait and not greedy in taking profit.

[Casdinyard]

There's no doubt that many investors are having such option especially those who are well aware on the nature of this industry. The market price is believed to be not consistently increasing and there is always a tendency for a downfall. Those people who are saying that they will hold no matter what, will probably have actions in contrast with this statement, once things go the other way around. We have seen how many people regret not selling at its peak, given how long the market in general is in red marks. Ofcourse not all people can endure seeing how losses inflate as the market value is falling.

[matjas]

Judging by what we saw when $41k -$35k dip happened and all major exchanges went down, it might be a bloodbath if the burst will happen. In that case, no exit strategy would help you. My strategy is to transfer bit by bit to fiat every now and then, so even if the bubble bursts, i will have some some profits safe and sound.

[cheezcarls]

I only sell BTCs when it's necessary like emergency situations (in case fiat savings are totally out or any other circumstances). Just like that in order to avoid anymore losses when big bloodbath comes.

[AakZaki]

As a trader I always have a strategy to get out of the market at the right time and enter again when the price is really below. I sold some of the Bitcoin that I had to secure my main capital, then I entered again. When the price got high I sold some and so on. I use technical analysis to determine my safe position.
If you are a holder you can hold it according to your initial strategy and at what price you are targeting.
I myself do not hold, I do scalping and continue to take advantage of the fluctuation of bitcoin prices to make a profit.

[blucepheus]

With institutional interest growing rapidly, I’m with certain analysts and fund managers who predict BTC will hit $100k this year. I anticipate a pull back following that, and will likely take some profit at that point. That said, is there a point in taking profit when you fully expect it to bounce back?

Nobody can call the top, nor the bottom. Attempting to call the market is a game that I’ve lost at many times.

[tippytoes]

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.

Those strategies you mentioned above actually are more than enough not to get screwed in this market. Right now, exit strategy is hard to execute as bitcoin is going up and reaching new ATH almost everyday. As we are more than 58k as we speak, people or institutions are still buying. But remember, correction is just around and you need to be ready if you have short term plans for your bitcoin. I understand that some people here need to cash out because of their financial needs. So if you are looking short term here, and you are already in good profit, you can cash out if you are comfortable with it.

[nitrobetting]

Good question and I think it would be wise to have a strategy just incase. I've seen others sell BTC but in my opinion the best strategy is still not to sell. If you don't need urgent money then leave it.

But also do not forget that you have to nail TWO correct predictions in selling and buying and that makes everything tricky. Safest would be to sell a percentage and keep the rest on another wallet but never sell all your BTC is my advice.

[Sled]

As a trader I always have a strategy to get out of the market at the right time and enter again when the price is really below. I sold some of the Bitcoin that I had to secure my main capital, then I entered again. When the price got high I sold some and so on. I use technical analysis to determine my safe position.

Sell high, that was the best idea but what if the price spike again after selling? I hope that simple TA could work and can predict such a perfect time coz I honestly don't see it even before. It seemed to be our luck if we can hit that.

If you are a holder you can hold it according to your initial strategy and at what price you are targeting.
I myself do not hold, I do scalping and continue to take advantage of the fluctuation of bitcoin prices to make a profit.

Just like you, long-term holding is not my favorite. I often sell when the opportunity knocks on coz guaranteed that we are not sure after. If I do the sell no matter if it pumps after, I have no regrets then since I was already making a profit and feels enough for that, not too greedy.

[bryant.coleman]

I am liquidating part of my holdings on a gradual basis ever since 2015. The total volume of coins I have sold since 2015 is almost 3 times higher than my current holdings. And I regret about it, because most of those coins were sold for three digit prices. But if you are making an investment, you need to sell your assets at some point of time. My mistake was that I sold them too early.

Now profit booking, "exiting crypto" and "significantly reducing your stake" are three different things. What I am doing right now is profit booking. I have no plans to completely exit from the cryptocurrency sector. Because I have been here for the last 9 years, and I know about the future potential of cryptocurrency more than any of the other users.

[shoreno]

you feel bullish or your funds are already at bull ? but how can you predict that itl stay for the next month and not for the entire year ? are you here before ( 2020 ) because there were also doubts that the bull run wont last a long time but people have a wrong prediction that time because the bull run actually got stronger and still remains up until now . when the crypto or the bull run is strong ill tend to put more stake and im not thinking of quitting . already found my happiness in crypto so if ever i sell i will still came back here to re invest .

[bakasabo]

Due to bitcoin price growth, my invested sum into it multiplied several times. I've been a holder for several year, but this year I have withdrawn "sum invested *3" amount and feel really happy about it, plus I have left some bitcoin in my wallet. Even if a miracle happens and bitcoin price suddenly drops to zero, I have already tripled my money. But most important I've learned thanks to bitcoin is patience. I'm almost immune to fomo and stopped checking price or my balance every few hours.

[yazher]

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?

I think the most common is to lessen your greed and to think of the contentment that you already earning some good money already. This will helps you cast your plans afterwards because the market right now is no doubt a temptation place to hold your assets even more. I don't know if it's the same for the long holders but for the short holders, it should their best option to make some escape plan right now. Either way, at this rate in the current market situation, they cannot still decide on which way they will go since everyone seems carefully waiting for some more spike in the price of BTC.