Sold my first Bitcoin and am happy

[cabron]

Looks like a good decision because BTC just dip. Its not very clear yet when to buy back but if you are bullish on BTC anytime right now will be a good time to buy. 3 years is a long time, you are a long-term trader then. I think only a few of the newcomers in crypto has a long-term investment plan, most will just buy when the price goes low and then sell and then buy again. I'm more convinced that there are more people who have a long-term plan for altcoins that can be staked.

"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.

Institutional investors I think will prefer the OTC for it won't affect the price fluctuation than buying BTC on exchanges.

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[maxreish]

Thats great to hear. Selling it today made you a good profits since another new ATH achieved recently, selling at high price when you holding it for three years is so much contentment and great feeling.
 
 I remember selling 1/4 of my btc when it first reached new ATH this year at $19k and then it boomed again to above $50k but I didnt regret selling the first part of it since I do holding some of my btc until now. Im also a long term holder since 2018. Anyway, happy for you too, buddy.

[Poker Player]

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

Congratulations. It was time to enjoy a little of the benefits, I follow a similar strategy.

It's okay to sell 5% of your Bitcoin. Think you can do this when the price reaches certain milestones without affecting your position. For example, you can sell 5% more when it reaches $100k, another 5% when it reaches $150k, etc. That way you enjoy some of the profits while staying mostly invested and have more and more equivalent in fiat (as long as the price keeps going up and we don't enter bear market).

[Sithara007]

I got my first coins in 2014, when the price was around $600 per coin. I sold most of the original stash in the next few years, but earned some coins from signature campaigns and freelancing. If I had kept all of the coins that I earned, then by now I would have had around $250,000 worth of crypto (which would be a relatively huge amount in a country like India). But right now I have a fraction of that, since I sold most of the coins. I don't have any regrets. That's how life goes. If everyone hold on to their coins, then Bitcoin will never become popular.

[tinopener]

It's okay to sell 5% of your Bitcoin. Think you can do this when the price reaches certain milestones without affecting your position. For example, you can sell 5% more when it reaches $100k, another 5% when it reaches $150k, etc. That way you enjoy some of the profits while staying mostly invested and have more and more equivalent in fiat (as long as the price keeps going up and we don't enter bear market).

Yep, that's what I plan on doing and wish I had done it sooner.

The reason I didn't do it sooner was because I didn't want to think about the tax implications (I am self-employed and have to declare all my transactions).

I have spoken to my accountant and they are happy to do my Capital Gains Tax. I have also bought tax investigation insurance purely because I am worried about holding crypto.

In the UK Coinbase have to inform HMRC (the tax authority) of any crypto transaction above £5k.

[yohananaomi]

It takes patience to hold on to crypto you are the real investor that has made a profit by holding for 3 years it is really a matter of great satisfaction. Its price was much lower currently it has increased a few times you can invest your money in various activities but the holding mentality is good if the price goes down you have to buy it and if it goes up you have to sell it. I would like to greet you and suggest you to buy bitcoin's price may go up further.

the basic principle is clear, friend, buy when the price falls and sell it when the price has gone up according to our estimates. but this is indeed from an action which certainly needs to be appreciated if you can refrain from selling when it has decreased, excessive fear of seeing the price drop drastically so you have to take that action.

Indeed, if you can hold bitcoin from 2018, it is certainly not easy because of this action because of the patience it has, the toughest is when it enters 2020 when the pandemic hits, there is seen the persistence of holders who remain steadfast not to sell because they believe there will be an increase.

so it is only natural that now that what has been done , it is okay to have a little fun to sell a little to enjoy the results of the improvement, and keep holding on to most of it because there will be a bigger increase.

[Silberman]

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).

There is nothing wrong with selling some of your bitcoin I just hope that you did it for a reason and not just to feel what it is like to sell, bitcoin is now facing a correction after reaching 61k and at some point some people want to exit the market in order to buy something they may like, however if the adoption of bitcoin grows as much as we think it will I think we may reach a point in which you will not need to sell your coins at all and still be able to spend your coins in stuff that you may need.

[PonZZ]

Congratulations! Very wise decision. I don't like Hodl at any price narrative. Money must make more money.

[davis196]

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.

There are risks involved in investing in general.Tech stocks aren't a safe heaven.
Gold prices might go down,after the pandemic/recession ends.
Anyway,good for you.I won't be selling my BTC,even if the price crashes back to 20K USD.
I sold plenty of BTC last year,when the price was 7K-13K USD,so I regret selling BTC.
I never believed that Bitcoin will reach 60K USD,so I guess I'll stay poor forever.

[Murtaza345]

I have sold my 10% of Bitcoin which I have been holding for two years,more I will hold for long term like 2'3 year because I know the future value of Bitcoin and I m so happy after selling my Bitcoin 10% portfolio because I earned good profit.and now I suggest to all that you hold your Bitcoin and don't sale because after selling you will regret very much, because it's confirmed news that Bitcoin will be above $100000  very soon like at the end of 2021 and may be before.so its my suggestion if you have Bitcoin hold for long term ,and if you don't have Bitcoin ,so buy Bitcoin.

[clippers]

Congratulations, I am very happy whenever I see someone making money from investing in Bitcoin. More and more people have invested in BTC and made money. This can strengthen the blockchain consensus around the world. I am happy from the bottom of my heart.

[anotherdayyyy]

what you did is really inspring me to and I admire you for that!
I have some bitcoin and HODL is my way, it feels boring. for many times, I wana sell my coin but stopped coz people around me suggest that I keep it...
since we have got some profit, why can't we sell??? experience matters more significantly than making money, isn't it

[isaac_clarke22]

~

Well it could have been a better reason, but I am glad you were still satisfied with what you have sold and earned.
"HODL at all costs" is a bit harder to do than said because anytime you might need some cash to use in your life and depending on how much you have right now, you might sell a lot or a bit.
You still mentioned that you sold 5% out of your all hodlings.
That's fine as long you don't go all out.

[Kong Hey Pakboy]

what you did is really inspring me to and I admire you for that!
I have some bitcoin and HODL is my way, it feels boring. for many times, I wana sell my coin but stopped coz people around me suggest that I keep it...

Chill down on your praises, OP didn't sell everything, OP just sold some bitcoin to breakeven which is not that inspiring as many can do that with what they are hodling. What I am amazed is that OP has been hodling bitcoin for 3 years without selling a portion of it, and that I commend. You might want to hodl that bitcoin even if it is boring, wait for the right time to sell and currently I think is not the right time because bitcoin can still go to a higher point and there is still a lot of months to go and many things can happen in that timespan.

[adzino]

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).

Great! At least you are feeling good about this. All I have seen is that people saying that they "regret" selling their coins once they see the price skyrocketing again. Even they didn't make any loss selling, they say they feel bad because they could have it for more profit.
You did the right thing not following the chant "HODL at all costs". You are right. This is somewhat unhealthy and creates a lot of stress and makes people anxious. You don't have to keep holding. Sell if you have to. Sometimes it is better to let go than to keep holding.

[mezzaluna]

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).

That is a really brave move and I commend you for doing that. When it was 2018, people are already seeing a sharp peak on Bitcoin's chart and they are saying that it will not reach another greater value than that but the Cryptocurrency Industry proved that wrong. People were vigilant on getting into Cryptocurrencies at that time and now they want a piece of it because of its surging values and garnered attention. Its still a great move for you because waiting for a value to come up is one of the most nerve wracking situations a person can experience.

[slaman29]

First of all, congratulations. 3 years may not be a lot but in the view of Bitcoin for whom most of us here have only been around it for 4/5 years, it's a long time. I assume you're also holding much more than me (since if I sell 5% it's nothing lol) but don't feel that selling what you need is unhealthy. Even Vitalik says he sold 50% to pay his bills!

[Shasha80]

You are a patient person who can hold for 3 years, that's something that must be appreciated. Moreover, 3 years ago the price of Bitcoin was
very low, meaning that now your profit is very large, I wonder how much Bitcoin you HODL. In my opinion if you already profit from Bitcoin that
you HODL, there's nothing wrong with selling your Bitcoin for take profit, there's no need to feel guilty or unhealthy. Even though you don't actually
need the money. But like you said, selling 5% of the amount of Bitcoin you HODL is to give yourself satisfaction, because it's been holding Bitcoin
for 3 years. Sometimes this has to be done to release the stress we have.

[Lorence.xD]

I, on the other hand, did not sell my bitcoin reserves but i put them at interest, in staking but not because i want to do a long term hold strategy but i like to have as much as possible, then in the end at least for me the price is relative will be there always ups and downs on the market

It is a much better way of earning more bitcoin instead of just letting it stay there and get stagnant. I plan to do some staking but I don't have the enough bitcoin to do it to make as much interest as possible. I did plan to trade but I don't think my lazy ass is going to want to watch the market all the time so passive investing is going to be my pick. Congratulations to OP for hodling that long, I don't think that I can do it myself but hey you did it and you got your initial capital by just selling 5% of what you have.

[LogitechMouse]

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.

Whether you are a trader or an investor, there is a time that you will take some of your profits for some reason and in your case you took profit because of satisfaction and its a good thing.
On my part, I will sell all of my holdings when either it reached the target I previously set or I'm seeing that the market is slowly going down already (this needs a bit of TA though).

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.

I know that Hodling is a good thing in order for you to maximize your profit but on the other side, there are some cons into it.
Remember those people who bought Bitcoin at the peak of 2017. It took them 3 years just to be breakeven. If they just cut their losses instead of just hodling it, they might made more money that they did right now. For me, hodling is good but as an investors always put a selling price and not hodl ALL of your holdings. Take some profit at least but don't sell it all. Save some and that is the one that you need to Hodl.

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

We are waiting for that moment too, the time where Bitcoin will dip so that more people can buy it lower.