Sold my first Bitcoin and am happy

[tinopener]

Congratulations on that, I feel glad to hear things about this. Those people who chose to hold for a long time and now they are having good profit, that is what we can have if we trust and believe in bitcoin, as of now the value of bitcoin is high and that would be too risky if we buy bitcoin these days, the prices of bitcoin can still go down and that would be the best time to buy bitcoin.

You said it. I think we have to stop pretending that Bitcoin is a tree that grows up to the sky.

In my very humble opinion, I think there will be two central things governing the price from now on:

Bitcoin Market Cap vs Gold Market Cap

I think gold has a market cap of about $10tn, and gold has many upcoming electronics uses. I think the Wall Streets Bets crowd are now switched on to commodities and stocks as much as they are to crypto too.

Bitcoin Carbon Footprint

For Bitcoin to get close to a million dollar valuation, it will take an unpractical amount of electricity https://www.bbc.co.uk/news/science-environment-56215787



OK. I've said two things (amongst many, obviously), and most optimists will think of them in isolation, but the effects of both will add up into downward Bitcoin price pressure in the medium term.

[Yatsan]

The same feeling is what I have been through the first time I have sold my Bitcoin way back the first years of my engagement here in crypto industry. The feeling of happiness brought by satisfaction is really priceless to think that after holding for a long time is thar you can already be able to sell some and keep on holding the remaining portion just to provide for your needs. Although it is not that necessary to sell for me, but still I have decided to do it just to feel how does it take to make those earnings in real cash because I cannot directly do transaction with Bitcoin for purchasing here in my country. Just maintain the balance on holding and selling your Bitcoin and other crypto for you will be the one who will benefit on it at the end.

[TedMosby]

-snip-

I bought around $8k in 2018 on average I think.

If I'm honest, I also have shares that have gone up almost much as Bitcoin, mainly in technology and biotechnology.

I am pretty well diversified anyway.

good for you, it's more than +600% of the profit.
it must be tough to hold it for 3 years during the bearish.
do you have any calculation on that 5%? why did you sell 5% from your holding?
if I am not mistaken there's a "4% rule", I wonder if you did something like that.
https://www.schwab.com/resource-center/insights/content/beyond-4-rule-how-much-can-you-safely-spend-retirement

[pawanjain]

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

I know exactly how you feel because I sold some in December as well. The price at that time was around $28000.
Today it's $56000 and I am not sad at all. It's double the amount but I still feel happy because I'm in here for the long term.
Holding is good but not selling when you are in need of it is definitely not a good thing.
We bought bitcoin so that we can reap it's benefits but if we don't utilize it in need then what's the point of holding it ?

[Swopon]

I haven't any BTC so can't say this expression. But I feel that it is a feeling that depends on your returns which you get from the investment. Maximum of bitcoiners get a good profit from their first trading. Sometimes there occurred unexpected situations. The cryptocurrency world is highly volatile so there is no guarantee to get the same results for everyone.

[tinopener]

do you have any calculation on that 5%? why did you sell 5% from your holding?
if I am not mistaken there's a "4% rule", I wonder if you did something like that.

I just rounded up to the nearest thousand pound sterling. It might not be too accurate, so take with a pinch of salt.

I think that 4% rule is generally about the natural dividend yield of stocks, which I have chosen to disregard.

My overall plan for retirement is to keep 2-3 years worth of cash, and skim profit off shares and cryptocurrency.

But that plan might only work in a high money printing, low interest rate, equity growth environment.

If I think the 4% rule works in the future, then yes, I will also move towards that.

[Ozero]

"You just sold your precious bitcoins cheap to institutional investors, Shame" 

In truth, taking profits after a while (to at least recover your capital invested is a healthy move and puts you more at ease with the remainder of your stash. I sell bitcoins from time to time as the need arises an maybe sometimes for personal gratification as well.

About the "Hodl at all cost" mindset; no technology or venture should be trusted without reservations, always consider the pros and cons of holding and act accordingly. The important point is your still invested in it and plan on buying more if a lower price presents itself.

If bitcoins were bought three years ago, now is the time to partially sell them and fix your profit. We see that the price of bitcoin is moving cyclically and so far, in general, in the direction of increasing. In any case, it is still profitable to partially sell them at such a high price and wait for the next fall in prices in order to buy at a low price.
If you just hold on to bitcoins, you can remain a witness to the rise and fall of its price, which ultimately does not guarantee a profit.

[Smartvirus]

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

That's one way to go about it and I'm impressed. I was beginning to wonder if you made a mistake by barely trying to test what it felt like to make a sale but far from it. Its simply getting the satisfaction of having your capital withdrawn and working only with the interest which is good.

I'm sure you got the satisfaction you deserve and thats really good. 3 years is a long time and 5% doesn't seem like a lot compared to what you've got stalked.
Its really awesome to know how much profit you must have made following the way bitcoin has been doing from the bullrun and of late. Kudos on investment, rely encouraging on your part.

[acener]

Great for you OP in crypto or any other investment I think it is better to save our investment and don't be too greedy.
It is a good profit for you already for holding it and waiting for it to reach this high before cutting it off.
We shouldn't stress ourselves too much from it and learn to take a break or relax.

[Upgrade00]

If bitcoins were bought three years ago, now is the time to partially sell them and fix your profit.

This is a personal decision; if the investor has reached their profit target they can sell and take out some profits. Some long term holders eo are yet to hit their desired target are still stacking up sats as they perceive the value is still relatively cheap.

you just hold on to bitcoins, you can remain a witness to the rise and fall of its price, which ultimately does not guarantee a profit.

If you only invest what you can afford to lose, changes in the market wound not pose a risk.

[milani]

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

Wow. You are surely the happiest man in the world nowadays)) because you did your own steps, you make your own choices without hesitations and any regtets, and you are with high profit. You are the real example for lots of people who do not still believe in Bitcoin, that everything is possible in your life in case you believe and act wisely.

[Wawa2013]

I can feel the satisfaction and pleasure you feel after selling 5% of the Bitcoin that you HODL for 3 years. Because I also experienced the same thing,
a few months ago I sold some of my Bitcoin. Which I also collect Bitcoin from 2017 until now, so selling Bitcoin when the price is high gives
satisfaction which is indeed difficult to explain.

The most important thing is I feel what you feel, therefore there is no need to feel unwell if we sell Bitcoin which we have HODLed for a long time.
That in my opinion is something that investors should do, at least give rewards to themselves. Because it has succeeded in being patient with
Bitcoin holding in the long term.

[tinopener]

That's one way to go about it and I'm impressed.

Don't be too impressed. I would have done it sooner but I am self-employed and I run a small company so don't want to get into trouble with the tax authorities.

Therefore I wanted to be sure my accountant was happy with what I was doing, and was given the all clear 2 days ago.

I even have insurance now 

[Asuspawer09]

Just sold 5% of my Bitcoin that I've been holding for 3 years and I feel satisfied doing so.

I didn't need to sell, and it was mainly for the satisfaction of getting back some of my original investment.

However, I also feel like its broken the "HODL AT ALL COSTS" mindset which I felt was getting a bit unhealthy.

I do feel there are risks with Bitcoin, and I won't drag people down with that here, but I will be diversifying that money into gold and shares, mainly tech shares.

If Bitcoin dips a lot, I will also buy some more Bitcoin though.

Basically, I'm glad I sold some if only to stop feeling like a slave to it (and to test the Coinbase selling functionality which only took seconds for the transaction).

I mean in an investor's mindset you cant really just hold bitcoin forever at some point we are always looking for profit, and investors are going to sell and make a profit if the profit was too high.

When the market price was too high in the market there is going to be a dump after that, especially if the pump was a big pump it is also going to be a big dump because investors know how the market work so at some point, they are going to sell and take profit at the high market price.

3years of holding is already a huge profit for now, and it doesn't really matter because you could always buy back bitcoin in the deep, we know how volatile the market is.

[Ridwan Fauzi]

You been faithfull to hold bitcoin that you have, also you been passed the worst thing that has been happened especially 2017 ago when bitcoin price increased a lot until touched the first all time high $20.000 but theb its price just dumped a lot $3500.

I just wanna know what have been done by you at that time so that you decided to continue to hold the bitcoin that you have?

I guess it will be a diffult thing to do. I don't have any bitcoin at that time. I just new comer that still learn about how bitcoin work and make some sources to make my believe is confident that bitcoin never take my money in any situation.

[tinopener]

You been faithfull to hold bitcoin that you have, also you been passed the worst thing that has been happened especially 2017 ago when bitcoin price increased a lot until touched the first all time high $20.000 but theb its price just dumped a lot $3500.

I just wanna know what have been done by you at that time so that you decided to continue to hold the bitcoin that you have?

I guess it will be a diffult thing to do. I don't have any bitcoin at that time. I just new comer that still learn about how bitcoin work and make some sources to make my believe is confident that bitcoin never take my money in any situation.

Bitcoin is about 10% of my total portfolio.

Buy stocks before you buy bitcoin.

Buy a S&P500 tracker before you buy Bitcoin. An S&P500 tracker contains Tesla, Amazon, Facebook, Google, Microsoft etc.

Read what Warren Buffet says about S&P500 trackers.

Warren Buffet is not an enemy of Bitcoin, he simply has a point of view.

[sunsilk]

That's what needed for one to feel, to be satisfied upon selling a portion of their holdings.

As long as you're happy and you know what you did at the current price which doesn't hit you mentally, that's what needed for you to look at. You're good and you can just buy it again which is part of what you've said and that's a good strategy.

There were many that sold theirs and don't plan to buy back those sold bitcoins that they've done. You sell some and hold more.

[ethereumhunter]

Bitcoin is about 10% of my total portfolio.

Buy stocks before you buy bitcoin.

Buy a S&P500 tracker before you buy Bitcoin. An S&P500 tracker contains Tesla, Amazon, Facebook, Google, Microsoft etc.

Read what Warren Buffet says about S&P500 trackers.

Warren Buffet is not an enemy of Bitcoin, he simply has a point of view.

A good percentage of your portfolio, but I hope you can add more amount of bitcoin, especially if you can buy it at a low price. I do not buy stock or another commodity because I do not know what I should choose to buy. Even the name in that stock list is a popular company that still needs research before we buy, making me decide to buy crypto.

Hopefully, you can prepare for the next incoming bitcoin price

[Sithara007]

That's what needed for one to feel, to be satisfied upon selling a portion of their holdings.

As long as you're happy and you know what you did at the current price which doesn't hit you mentally, that's what needed for you to look at. You're good and you can just buy it again which is part of what you've said and that's a good strategy.

There were many that sold theirs and don't plan to buy back those sold bitcoins that they've done. You sell some and hold more.

There is no point in selling your coins, if you plan to purchase them back at some point in the future. Because despite temporary fluctuations, the long term trend for Bitcoin is always positive. That means, if you are selling your coins then in all probability you'll be purchasing them back at a higher price. On the other hand, if you want to do profit booking, then it is OK. At one point or the other, we need to sell a part of our holdings in order to cash out. There is no point in not spending some of the coins, as long as you have enough holdings for the future.

[MCobian]

I believe everyone feels satisfaction after successfully holding Bitcoin for 3 years and selling it at a high price. Maybe you invested in large
amounts of Bitcoin, because you only sold 5% of your Bitcoin and were satisfied. Then I can understand why you have an unhealthy feeling,
because deciding to sell your Bitcoin after a successful HODL for three years is sometimes not easy.

Because what you really want is HODL without selling it no matter what, but sometimes times change our plans. So in my opinion there is
no problem changing our original plan if it is still profitable. Sometimes we really need to sell the Bitcoin that we have when it is profitable
to buy Bitcoin again when the price drops.