Do you have a Bitcoin exit strategy?

[Kelvinid]

As for now I am confidently enjoying what we are currently having right now in the crypto market. I am still not thinking of the possibility of the crash or sudden dump although I am already aware that will happen in no time. As of the moment, I am still on what I am currently doing considering I am getting myself ready for what can happen in the near future. I am just constantly gaining profit which is somehow enough for me not to panic and if ever unexpected changes would happen that is not exactly based on my plans, I would barely accept the fact of being still on holding for it will not be my first time anymore experiencing such thing and I believe on what Bitcoin can do so exit strategy won't be an option for I can endure such.

Wow, I can't imagine if someone could really stick into holding if the crash will happen because most holder will sell off their Bitcoin and take the profit.

You have to live with the trust and confidence that Bitcoin will no longer get back to the dip, I didn't have that kind of motivation but I do believe as well that Bitcoin doesn't go below $10k. And if we are still holding it even there is a market crash, isn't really a thing to worried about. But for me, I shouldn't have to wait, I'll do selling and reinvest when it hits the dip again.

[Shasha80]

Seeing the bullish Bitcoin price until now, it looks like I will continue to hold the Bitcoin that I have for now. And there are no plans yet to sell
my Bitcoin, if there is no urgent need. Moreover, many people predict the price of Bitcoin will rise to reach $ 100k this year, make me even more
confident to HOLD my Bitcoin. So I'm still not planning on creating a Bitcoin exit strategy at this point.

[BusinessPartner]

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.

Can open an ISA from Canada? Is it worth it?

[Coinsfera]

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?

The exit strategy can be sending your funds to exchanges and trade them to USDT, USDC, or BUSD. Or you can sell bitcoin directly in the exchange app but demand for this will be low. Or you can approach the OTC exchange to sell your cryptocurrency to cash. The last one is quick and there will be less commission.

[Karartma1]

I think I am in a kind of self-inflicted hold mode!   Even when I want to sell some deserved profit I don't sell. I guess what makes a true difference for it is that, holding the coins on my personal wallets going to the hassle of unlocking these funds via my private keys mainly discourages me.
I'm bound to hold, that's it.

You will be highly rewarded my friend. I'm holding since 2013 and haven't sold a bit. The temptation is high but if I could resist so many years... a few more years will bring me the financial freedom, I'm sure about that!

I sounded funny but reality is that I believe in bitcoin a lot. From the moment I read the whitepaper I fell in love with it.
How is it even possible that a tool like bitcoin doesn't resonate with people? People are so blind in terms of finance and economics that something like bitcoin can't be possible. Our overlords tried hard to dismiss bitcoin in the eyes of the public but that can't be done anymore and I hope an increasing number of people will see what we've seen already.

[AakZaki]

I don't even have a plan to get out of crypto and I wouldn't mind if the bull run ends.
When I need the coins, that's the point I sell it to my local currency.
It might be true that bull run might end one day but it will surely be back after bear's table is done.
There isn't ceiling in the price, think about that OP.

at least you have to secure your capital first when it feels like it's enough because it's very important to keep your funds safe. Bitcoin ATH that continues to be printed will experience a saturation point where there will be a decline in price or a correction that will make people panic.
There is no need to do an exit strategy, but safeguarding the initial capital will be very important to keep trading going.

[Fredomago]

I think I am in a kind of self-inflicted hold mode!   Even when I want to sell some deserved profit I don't sell. I guess what makes a true difference for it is that, holding the coins on my personal wallets going to the hassle of unlocking these funds via my private keys mainly discourages me.
I'm bound to hold, that's it.

You will be highly rewarded my friend. I'm holding since 2013 and haven't sold a bit. The temptation is high but if I could resist so many years... a few more years will bring me the financial freedom, I'm sure about that!

I sounded funny but reality is that I believe in bitcoin a lot. From the moment I read the whitepaper I fell in love with it.
How is it even possible that a tool like bitcoin doesn't resonate with people? People are so blind in terms of finance and economics that something like bitcoin can't be possible. Our overlords tried hard to dismiss bitcoin in the eyes of the public but that can't be done anymore and I hope an increasing number of people will see what we've seen already.

Good catch and with that trust with your own assessment in terms of following this system you'll able to manifest the benefits from this industry, there are many who are now regretting not to take time learning while the value still cheap, nowadays you needed to have a lots of funding in order to have a much better numbers of assets inside your pocket.

Those who had been here much earlier are simply watching and enjoying how the trust that they've provide bring them the luxuries that this system has brought to their investment money.

[bittraffic]

Exit strategy is the hardest to do. Once the dip started you will have to keep watching multiple charts to identify whether we are really in the bearish market or not. For being unsure, you just sell right away thinking it's already the start of the bear market. Last night there could be people executing their exit strategy. Now, they felt like they were tricked to sell.

[Wenbing]

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.

How do you justify what is happening in the crypto industry with the rise in the price of btc. Do we say that the way the bubble happened in 2017 , it will also happen in 2021?

In 2017, we have less institutional investors, less private business adoption the only thing we had was the halving.

Well, why it's good to have an ext strategy, i think the price of btc would be more stable than ever.

Not really. My simple strategy is as follows:

3. Continue to focus on creating more cash flow to have more money to invest in assets.

This is one of the best lines in your comment. The way to prosper in investing is to have a flow of income to always use to explore opportunities. yesterday was a very remarkable day, my friend and i saw how bloody the stock market was, we saw opportunities to buy cheap stocks, but we had limited liquidity.

So, seek for ways to increase your income always.


[moderator's note: consecutive posts merged]

[BayAreaCoins]

[MinoRaiola]

Yeah my strategy is never sell all your BTC. HODLer!

The call for a strategy to get out comes again and again with such courses. But one thing should be clear, never sell everything! always at least 1 bitcoin hodln. Just to never really be gone, but to stay loyal to the community and to innovation. Even with a higher rate like now, bitcoin remains and lives on. Selling a portion is okay, but hey ... not all.
@virtualdn: good man. great decision.

I want to give my family bitcoin and do not want them to say in the future: would you have bought btc earlier than you could.

[blucepheus]

Not really. My simple strategy is as follows:

3. Continue to focus on creating more cash flow to have more money to invest in assets.

This is one of the best lines in your comment. The way to prosper in investing is to have a flow of income to always use to explore opportunities. yesterday was a very remarkable day, my friend and i saw how bloody the stock market was, we saw opportunities to buy cheap stocks, but we had limited liquidity.

So, seek for ways to increase your income always.

Excellent point. I suggest having liquid fiat that you can quickly leverage to take advantage of significant corrections. If you are all-in, you will miss key buying opportunities when everything crashes. (I’m speaking to myself here also, as I am constantly tempted to go all-in on things I really believe in, like Bitcoin).

[imstillthebest]

[/b]

 If you are all-in, you will miss key buying opportunities when everything crashes. (I’m speaking to myself here also, as I am constantly tempted to go all-in on things I really believe in, like Bitcoin).

if your tempted why wont you do it but if your in doubt dont do it .
 i can put much trust in bitcoin more than anything else and if i were you i will not think twice to all in my money because bitcoin is different .
 bitcoin gives its best 100 % whenever theres a bull run comes and we all witness that last time .
 im a person that once i invest into something i will not think of exiting . sorry op i cant help you if your plan is to exit in bitcoin ;( but if ever you changed your mind  , dont hesitate to contact me and i wont hesitate to help you

[blckhawk]

Seeing the bullish Bitcoin price until now, it looks like I will continue to hold the Bitcoin that I have for now. And there are no plans yet to sell
my Bitcoin, if there is no urgent need. Moreover, many people predict the price of Bitcoin will rise to reach $ 100k this year, make me even more
confident to HOLD my Bitcoin. So I'm still not planning on creating a Bitcoin exit strategy at this point.

We don't exactly know what's gonna happen that is why it is better for us to plan our exit point. It could be hit $100k this year and there's a chance that it would not, you could do whatever you want on your coin like hold but make sure that you will be able to handle the risk. My advice is that set your goal and don't be greedy besides, once you made a profit, you could save your capital and use the rest to buy again once there's an opportunity to procure. The thing here is don't be greedy otherwise you might lose the opportunity.

[Lorence.xD]

I always consider the exit strategy from crypto but unfortunately it is not easy, because for me it takes a lot of capital to finally invest outside bitcoin. But it would be better for us to develop a personal business but unfortunately again, I don't have many skills to make a business. With such constraints it is difficult for me to get out of bitcoin, and at least I will continue to put a lot of effort into bitcoin until I finally have a better strategy to exit.

If you don't have an exit strategy, you can just get out of bitcoin by setting X amount of money in your wallet before going out. And you have to make sure that when you get out, you have to get a job or if you have a business for safety net for finances. Too bad that you don't have a skill for business but it is not the end for you, you can still learn some way to do some business, there are self help books out there about entrepreneurship. Other way is getting into stocks and bonds to help make a passive income stream.

[ashmodeus]

yes i am ,even how bullish this year ,there must be have some bear waiting for the right moment, and i wont get rekt same like 2017-2018 , for sure, i just believe bitcoin will reach 100k on this year, and when that come , i will sell everything, i also quite sure even shitcoins will grow like miracle, however i have plan to buy low and probably will kept it there for a long time .  u know what, this scheme just keep repeating, no matter what happen , big pump will end by big crash and everything recovery together.

[eminan]

So I got heavily into altcoins (more than half of my portfolio), but I'm planning on selling most of my holdings in them (except Ethereum of which I'll keep a majority) and hodling most of by Bitcoin through the bear market. I'll use the profits from the alts and to slowly accumulate BTC for the next bull run.

I know the capital gains taxes will suck but I think this is the best thing to do considering the strategy I used. I didn't plan to get so into the alts but it was just so exciting that I went overboard. The alts I picked we're mostly top 100 coins so it wasn't too risky.

Now I'm just debating how much of the alts profits to put back into Bitcoin and how much to convert to stablecoins.

Anybody else take this route before?

[mich]

For a long time I have always had the magic number of 100k in the back of my mind as a good exit point.

But now I am reading some experts predictions of 100k just by the end of this year so Im thinking I might wait longer.

Admitting it is going to take some strong hands to hodl when its at 100k price point.

[Amejoaquim]

To be honest i don't really have that strategy, i'm just gonna sell it when my real life force me to convert it into the real money.

And i dont think it's gonna be long day for me to out from this investation, especially in this situation when theres a lot of big company who investing in BTC with Huge Amount.

[panganib999]

To be honest i don't really have that strategy, i'm just gonna sell it when my real life force me to convert it into the real money.

And i dont think it's gonna be long day for me to out from this investation, especially in this situation when theres a lot of big company who investing in BTC with Huge Amount.

Market of cryptocurrency are so volatile having no strategy might put you in the situation that you may regret later on. I'm sure you need to assest and make yourself some realizations when it comes to trading or simply just buying and selling. It is okay if you don't want to make it full time trading but even the basics is a good fundamentals in making profit out of your money. BTC have reached another milestone, which is the ATH of its value. I think it is good because the value keep climbing up yet it is also dangeroua to ride as well as to invest because you don't know what would happen in the future. BTC value might also get down in just a snap.