Exit strategy

[ThijmenNL]

Hi everyone,

(Before you read this I think it's necessary to know that I'm 16 years old so my budget to invest in unfortunately very limited.)
I bought Bitcoin for the first time in 2017 at $5k, just weeks before the big pump to almost $20k, stupid as I was I didn't sell anything at that moment and just hodl till te pump was over , but I was only 13 years old at that moment and I think that was a big learning point for me.

The following 3 years I wasn't really busy with Bitcoin, I checked the price sometimes and rarely I bought some new Bitcoin (mostly I only bought for like $50 because of my young age). My total investment at this moment is I think around $300.

Yeah we all know where we are today, bitcoin trading at fucking $55k! I have sold 33% of my btc at $37k (I had learned from 2017 that I should take some profits). My portfolio is currently worth $2100(!), but I don't know what to do know. It is a lot of money for my age, I am thinking about selling it all now and wait for hopefully a dump and reinvest it all. But yeah who says there is going to be an big dump now that big companies like Tesla are investing in it.

I seriously don't know what to do, of course it could be possible we will still be in a bull market the following weeks/months and then I would regret if I will sell it all at this moment.

I need an exit strategy, but I don't know what way?

If you guys have some tips or ideas, let me know : )

PS: I hate it that I was quite early in Bitcoin but I was very young at that moment so I couldn't invest more, now I see people who stepped into Bitcoin in 2017 too that have way more money hahaha, but i'm very happy with what I have know.

[Lanatsa]

Now that you do have money to spend on investment then its up to you on what you would gonna with that.Its good to see that someone on young age did really

have that kind of mindset when it comes to investment.Since you do talk about exit strategy then this vary on your own discretion.If you do learn up with that 2017 incident
then it isn't bad to secure out those profits considering on how much you do only put up on as a capital and now that you had gained
then its not bad to cash out.

If you do look for bitcoin to hit up even more in the future then you can always opt in to hold longer but if you do need money then its still wise to sell now.

[ThijmenNL]

Hmmm it’s not that I need the money right now.
For long term I really think this is not the top, but of course nobody knows. It’s more that I realize my portfolio is at ath right now and if I can save all that money now and maybe reinvest at $25/30k, it would be very nice.
It’s difficult hahaha, but thanks for your reply, I appreciate it!

[migolmigol]

Exit Strategy is really important for you to avoid huge loss.

What I do is I really respect my entry and exit points according to the studies showing in the graphs. I suggest you also try to learn on reading the studies where in you would determine if an alt is bound to go up or down. And then if you reached an entry point position, learn how to accept and respect your cut loss point. Like for example if you had already reached your risk appetite of loosing around 2-4% then exit right away and don't look back. Just focus on your other trades and look for other opportunities. Same goes if you reached already a certain percentage of gain. Profit is profit and you wont have to maximize every upward trends as we will never be sure when will it crash. I do this in both trading alts and stocks.

[mk4]

Mate, you're like super young. Why do you even need an exit strategy this early on? Depending on where you're from, it's not like you're going to need to pay some bills any time soon.

Why not just hold all your bitcoin for longer? It's kinda obvious that bitcoin's in an upward trajectory if you just hold long term. If you're going to time the dips, well, I'd just say good luck because people end up messing up their trades and end up either buying at a higher price, or totally missing out, in the hopes to buy cheaper.

If you need some money to date some girls and all that, I suggest just doing side hustles to get some money. Maybe mow some lawns for money? Try selling stuff online, helping out your parents if they have a business, those kinds of stuff.

[ThijmenNL]

I totally understand your point. But i'm definetely not palnning to get out of crypto, if I take profits right now I'm planning to reinvest them after an (possilbe) bear market. Of course nobody knows if there is going to be an bear market and if so, where it will go.

[orions.belt19]

It might be hard for you to find good entries if you don't know how to read bearish signals or know when there are going to be dips. Bitcoin is hard to short trade and without some skills, you might end up losing more instead of getting gains from just holding. Since bitcoin is more suited for long term and given your age without the need for the cash at the moment, then it is best to hold all the way but if you're really keen on maximizing the current bull market and looking into getting some gains then you could use your time to learn how to trade. You could also choose to diversify your portfolio. During a bull market is the best time to profit from other coins. You could flip other coins once you've profit from them and reinvest it into BTC.

[MIner1448]

The entry strategy is simple, wait for its fall and enter the market, but it will not be soon, and indeed it may not be. Recently, whales poured a large number of bitcoins on exchanges, maybe because of this there will be a collapse, or maybe vice versa, so now it is very difficult to enter bitcoin, the more so if this is your last accumulated money.

[Wexnident]

I totally understand your point. But i'm definetely not palnning to get out of crypto, if I take profits right now I'm planning to reinvest them after an (possilbe) bear market. Of course nobody knows if there is going to be an bear market and if so, where it will go.

You can probably just keep on holding. If you want to absolutely maximize your profits, then leave a portion of your portfolio for daily investing (or when you have time anyway). The buy low sell high kind of thing, but don't use it all, always leave an amount that you won't use and would just hold. Now as for your current profit, if you don't want to invest in crypto anymore, then find some stocks that could let you earn some passive income, and then use that to invest more. The risk of selling low and buying high is always there, so if you're planning to sell then reinvest then always pay attention to that and always remember, the profit you made wasn't made in an instant, it took years, so don't let greed get over you.

[Sebas.tian]

I seriously don't know what to do, of course it could be possible we will still be in a bull market the following weeks/months and then I would regret if I will sell it all at this moment.

I need an exit strategy, but I don't know what way?

If you guys have some tips or ideas, let me know : )

You must have full confidence on your investment because sometimes it looks as if you are not in the right place of trading, than to later discovered that the steps you took is the right step.
For you to get it right whenever bitcoin is pumping, you must not rush when others investors are rushing to sell their coins in the market which can lead to regret at the end of the transaction.

[ice18]

I totally understand your point. But i'm definetely not palnning to get out of crypto, if I take profits right now I'm planning to reinvest them after an (possilbe) bear market. Of course nobody knows if there is going to be an bear market and if so, where it will go.

They said this is the longest bull market we can see and I dont think the bears are coming very soon others also said we are only starting and it seems that is true, you already said you don't need money right now so if I were you I will take some profit and hodl my bitcoin for now and check it again after some months its risky to hodl since no one know when this bull market will end but taking risk might also give you huge profit in the end. 

[LUCKMCFLY]

Before you make any decision, I recommend that you read investment books, either by Warren Buffet, or any other famous investor, I would advise you to leave your money in Bitcoin, because it is likely that it can grow, however while you wait there you must go learning. When you know more about the market, start reading books so that you understand the market and then analyze the Crypto market.

Do not rush, the money if you have it in Bitcoin is a great investment, you cannot be thinking that you are going to lose, because you have won more than you can lose and that is a good streak, of course this is my advice, because I think that bitcoin will come at a price much higher than the last ATH.

[Julien_Olynpic]

The author was lucky with the moment of entering the market and with the fact that he did not actively trade. Paradoxically, his lack of knowledge helped him. If he started trading, he would definitely lose most of his bitcoins. However, he now faces the question of an exit strategy. First, it’s hardly worth going out so early. The bull market is not over yet. I think it will be for a long time.
  How to get out of a profitable position? Of course, you need to do this gradually. For example, you can advise the following scheme: starting from 100 thousand, selling 20% ​​of your deposit every 50 thousand dollars of growth.

[bitterguy28]

Hi everyone,


I need an exit strategy, but I don't know what way?

If you guys have some tips or ideas, let me know : )

You have witnessed the greatness of Bitcoin , when you did not sell all your holdings and now the value is almost x3 from that 20,000 Hype so why bother selling now?

PS: I hate it that I was quite early in Bitcoin but I was very young at that moment so I couldn't invest more, now I see people who stepped into Bitcoin in 2017 too that have way more money hahaha, but i'm very happy with what I have know.

You must be thankful of your younger age you have already believe in this currency , just continue buying small amount if you have extra money ,a nd lets see when you turn 30 and have to withdraw your coins.