Sold my first Bitcoin and am happy

[tinopener]

Ahem, just to clarify that I didn't hold on for so long just because of willpower.

Another reason is that I am self-employed and work through my own Limited Company, and so am constantly under threat of investigation from the tax authorities.

I was essentially lazy in leaving it so long to check with my accountant about Capital Gains Tax and I have now even purchased special insurance to protect against tax investigations.

Basically, I was worried that selling Bitcoin might alert the tax authorities and initiate a wider investigation into all my financial affairs.

And in fact, I turned out to be correct about this, as Coinbase now has to inform the tax authority of large transactions in the UK.

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[ecnalubma]

Profit is profit, congrats your patience really paid off. Its not bad if you take and enjoy some profits since not all holders reached your stage. Proven that Bitcoin is worth hodling and anybody has their different strategy on until when to hold and exit. But just like you most of us are very optimistic about Bitcoin’s future.

[bryant.coleman]

I agree that to hold Bitcoin is a good idea and very useful. There is a good predictions about future growth of Bitcoin. As for me I like to read different predictions.

First you need to ask yourself whether you can hold the coins for up to 4 years. If you can't hold for that long, then you need to come up with a plan to do profit booking. I am saying this because during the last 9 years I have seen a lot of noobs making the mistake of doing panic selling. They are not ready for extended bearish phases, which can last for 1-2 years. So always consider this possibility while you plan for long term hold.

[goldade]

Holding bitcoin for three years means you must have bought at a very low price and selling now means you've made a lot of profits, even if it's only 5%.
Personally, I do think that it's great how that you sold some of your coins. The satisfaction that comes with having some profits over your investments is underrated.
Many people hodl for very long time with the hope that the price of bitcoin will always go higher. They may be right, however, looking at it practically, that would mean there will never be a time for them to sell since bitcoin always has the tendency to rise in price.
You should know that you don't really have money until you can use it.

[Genemind]

At some point you have yo take your porift, there is no point on hodling for too long. Give yourself a break and enjoy the fruits of being patient. It isn't easy to hold your self from selling especially if you see that you are already at profit. Some early adaptors who bought BTC in less than a dollar wpuld've been tempted to sell when BTC went to 100$, patience gets rewarded in crypto.

[Josefjix]

If 5% selling could make you this happy, it means you're holding a lot of bitcoin in your bag. It feels good you are gradually paying yourself for been patient over the years to have earned massive through the Bull season. Diversifying your portfolio into other shares is quite awesome.

[sunsilk]

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

Specially for OP that he only wanted to feel the selling chance and nothing more , it wasn't about the profit or anything but the feeling.

Well, count the profit for that reason because the price is good when he had sold. Unlike the others who did it and was caused of panic, they're regretting it now.

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.

He has not plan using the amount for even trading , that is solely selling chance is what he wanted.

For the record, he had said it that he's going to buy again if it dips.

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.

Lol that is only for Bounty hunters , in which selling their coins because that is all they wanted and not like OP in which Holder and the intention to sell is that the feeling only.

I don't get where you got the idea that it's only the bounty hunters who do that.

[taufik123]

Time will tell, but people said the same thing in 2010, 2011, 2012, etc.  Those people sold at $5.  Or $30.  Or $500.  Or $1000.  Or $5000.  Maybe they needed the money and are happy about doing so, maybe not.  It was their choice in a free (at least in some places) world.

If you *need* the money for something, certainly sell, but blanket statements like that have been proven wrong many times.  If it makes you happy, sell.  If you are stressed about the ups and downs, sell.  But don't do it just because someone says "logically that is still not possible and still very far away." It may be a long time, it may be short.  It really depends on you and your goals and what you consider "long" and "short." 

All decisions are indeed everyone's choice, no one can prohibit it. Including about a speculation price of $ 500k. people can disagree because it is a free world.

Why do I say logically it is still far (not impossible). Because the price is too high and some groups and banks will not stand idle when the price of bitcoin is out of control and too over.

2 years or even 10 years in the future we still don't know how the development of bitcoin is.

Everyone has their own goals, indeed no one can prohibit when targeting a very high price on bitcoin, the most important thing is that the money used is not money and is required to be withdrawn at any time.

[Alucard1]

Congratulations on your achievement, it seems like you have gained a huge interest from your investment, those who believe in bitcoin is now earning a good income and that really inspires me more to invest in bitcoin as the bitcoin keeps on going up, I am just afraid because the price of bitcoin is too high and that would be riskier maybe I need to wait for other time for bitcoin to goes down a little bit and then buy for hodling.

If 5% selling could make you this happy, it means you're holding a lot of bitcoin in your bag. It feels good you are gradually paying yourself for been patient over the years to have earned massive through the Bull season. Diversifying your portfolio into other shares is quite awesome.

Yeah, that is for sure, that is really worth of waiting, that is why hodling in bitcoin is really a great thing and will even secure you in the future.

[uray]

3 years in holding? That was a long sacrifice but it was paid off.
I'm for sure that only a few people who've been doing this coz it possible that they sell their Bitcoin at the first market rally at $20k, $30k...But you have that strong faith and the situation gives you a favor.

If you saw or studied the last two market rallies then you will understand that a single rally during a bull run does not end there and it will always surprise the investors who had the patience as you will never earn this kind of profit in any other financial market, i did sold some coins once it touched $50k and it was my target for over 7 years and i will get them back if there is a major correction.

[nightxglow]

Woah! You're really patient to wait for three years, and I'm glad it works out in the best way for you! I bet even that 5% already earned you a lot of profit, since the price skyrocketed really high from three years ago. Too bad, I already sold most of my bitcoin, but I understand the feeling of satisfaction. Even recently, my brother said that he found a little "forgotten" bitcoin in his wallet, and the since the price went up, that little amount becomes quite a lot, it's fun, like finding surprise money lol.

[Renampun]

...

You have done good things for yourself and no one has the right to underestimate you...
I am not so hard in saying that you have to hold bitcoin that you have forever, you need the opportunity to feel profitable too and you must have gotten a good profit because you have been holding it for a long time. *happy with you

[Sled]

Woah! You're really patient to wait for three years, and I'm glad it works out in the best way for you! I bet even that 5% already earned you a lot of profit, since the price skyrocketed really high from three years ago. Too bad, I already sold most of my bitcoin, but I understand the feeling of satisfaction. Even recently, my brother said that he found a little "forgotten" bitcoin in his wallet, and the since the price went up, that little amount becomes quite a lot, it's fun, like finding surprise money lol.

That's it. We don't need to complain and blame ourselves for being impatient. We have to know that not all the time we've been right or wrong, and because we decided to sell it at that specific rate and time, we've been thinking it was the right decision but we find it wrong because after that the price went high.

So this is to say that not all of us here are willing to wait, not like OP did. I would say OP has a strong faith in Bitcoin and he even not get tempted to sell it during the early pumps but instead he manages to still hold and finally gets what he wanted.

[AakZaki]

I am someone who made the mistake of selling BTC at extremely low rates (~$200 per coin in 2015). My advice to everyone here is to hold on to at least 70% or 80% of your coins for the long term (i.e at least until 2024). With all the stimulus measures and welfare splurge by the governments, it is just a matter of time before ordinary people use Bitcoin to protect their wealth. Once that happens, BTC can go to very high levels, even beyond the dreams of the majority of the users. We have seen the exchange rates increasing from $0.001 in 2009 to $61,000 in 2021. We can wait for a few more years, so that the exchange rates will touch 6-digit figure.

Don't feel sorry and feel like it was a mistake when you sold BTC for $ 200. it's your decision to sell it. Nobody expected BTC to be this high. Even when you keep 70% of the total BTC you buy at low prices, it will sell out when the price is high enough you think.

It all depends on the original intention when buying BTC. If your goal is to hold on to it for years and keep sidelined, you will certainly enjoy the results today.

[bandungan]

5% profit for you is very good for now. I think you should try to be able to do the same sometime later. I appreciate your work, if you can increase your profit to reach 10% or more. so this may make it easier for you to get bigger profits

[Golftech]

The self-confidence you have can certainly be an example for everyone, if investing in crypto, of course, will always provide unexpected surprises in the future.  three years is certainly a long time.  Someone who is inconsistent will easily panic and feel frustrated when facing a continuing downward trend towards market prices, they will think short by selling their assets even if they only get a small profit or vice versa for fear of its value will decrease.  but of course with the patience that you have held for three years, now you can enjoy the benefits and feel very satisfied from the 5% of sales you are currently making.

Enjoy now as you deserve whatever you are gaining, valuing the process of investment is really  a tough

job to everyone, most of the time when certain downfall continue to comes up and hurting your investment,

the next thing you see is you are already following the fuds selling in fear that you will lose everything, but

that's different with OP and now the end results for him remained positive.

[dolcemariposa1]

What has worked best for me is spending 20% of my monthly earnings buying every month, regardless of the price that Bitcoin has at that time.

[Ibrahim60]

Three years is not really a short time.  Admittedly, you have a lot of patience.  And greed is much less.  Because if you were greedy or scared, you should sell Bitcoin only when the price was $30k.  It's really unimaginable that you've been holding bitcoins for so long.  This is called longtime investment.

[panganib999]

Three years is not really a short time.  Admittedly, you have a lot of patience.  And greed is much less.  Because if you were greedy or scared, you should sell Bitcoin only when the price was $30k.  It's really unimaginable that you've been holding bitcoins for so long.  This is called longtime investment.

I agree. He definitely have triggered discipline. And also he have a lot of patience in selling his bitcoin. I know that we all know bitcoin will pump as usual in the next months but I think his decision is good enough because he earned a lot of money and that was called a super long term investment. I am so much happy about the people who have a lot of patience and I wish I have it back then. I only sold mine in a good price but not as good as it now. I used it in my things that I needed that time and I'm glad that I able to buu those things and still thankful for that price.

[Traderbtcc]

It's nice you actually held for 3 whole years and didn't panic sell during the dump last year, it's paying off really well now, it good you took out your original investment, now it's just your profits left, nothing  bad in taking profits after all we can't hodl forever, I just hope you can hold on to the rest till bitcoin hits $100k, trust me you don't want to miss out on that cause its going to be wild, nevertheless sell while you are still in profit not when you are in loss, you should know what that means.