No BTC Holding is risky

[Obito]

If you have sold because you need that profit, that's fine. But you should also have that long term plan upon holding bitcoin.

It's risky to say not to own bitcoin because you're going to miss a lot. And that's why whenever you sell, make sure that you will also have that time and price to buy back so that you won't miss every time bitcoin goes up.

That's what some people don't get, that sometimes you need to sell your bircoin because you have some needs that needs fulfilling and the attention to those needs to be immediate. Totally agree with not owning any bitcoin, have experienced missing a lot of profit back then and I don't want that to happen again.

[The Cryptovator]

I don't know OP who told this is on tweeter, but he said right. Last three months I have been holding Bitcoin. When I Bitcoin was $41K I hadn't sold it. But when starts to drop and become $38K, then I thought it would dump more and I should sell it. I did the same as thought, just sold all my holding and convert it into USDT. Now Bitcoin is trading above $48 which is $10K+ where I had sold. Isn't it become true that not holding Bitcoin is risky? I just realized it in my life. Definitely, I will keep it in my form now. However, thanks for sharing it here, because I just realized my mistakes again and learn.

[sana54210]

At this point bitcoin has already established its place in the market and had been keeping its position quite solid for the past few years. It would be a waste indeed if we are not to invest even a small percentage of our money meant for investing and crypto in such a valuable asset with high potential for profits. Although the fear and the doubts are justified, knowing that there isn't really a big and full-blown use-case basis for bitcoin unlike its successors in the market, the profitability severely counteracts this, making it still one of the biggest coins in the market up to this day.

Well, the reason for that is simply because bitcoin is an ever-increasing product, do you really think that in 5 years bitcoin will not be over the price of what it is right now? The shorter term, like inside of 1 year, you could maybe lose money, or even in 2 years, but in 5 years everybody knows you will make money from investing into bitcoin.

More and more people starting to learn this, sure "how much" is still a question in everyone’s mind, but when the world knows that there is a product that you are guaranteed to make profit, the question of how much becomes less important because there are very rare things in life that guarantees profit and how much will be just a surprise. So, I have to say it is definitely going to be easy for more and more people to be convinced to buy it. When they are convinced that means price will go up because they bought too.

[Hippocrypto]

I have sold my BTC earlier @$31k-$35k range long ago. I have invested in altcoin then and made some great profits although I had to lose 50% at the end. Now, I own almost no cryptocurrency other than USDT and a few trash coins.

Yesterday, I was scrolling newsfeed on twitter and got someone tweeted like this, "No BTC holding is risky.' This is somewhat true when I thought it deeply. Now, I got the same feeling. It’s risky to not own any bitcoin. Fiat is getting devalued all the time.

As we face life with strong fate, risking on different phases just to live and despite of that we still choose that options. Thinking about fiat became devalued, I don't think so because its our tool for digital currency to be worthy of our profit gains. Without that, we won't experience all those benefits we wanted to have. Fiat is very important for physical spending, and bitcoin is our digital asset which provide us an opportunity to earn profit without any running physical business despite of the risk.

[Rabi3]

Congratulations! It sounds like you're starting to realize you've been fooling around. Just buy Bitcoin and hold and cut the bullshit. It seems unbelievable that you have been on this forum for 3 years already.

this happened to me too, i sold at low prices (8000$-12000$) and i wasn't fully invested on bitcoin in particular, and now it got to a point were it reached $60k i regret not holding for a very long period of time, and i was always thinking that something can happen and cause bitcoin to go down, it was the main reason for me to not hold (and also my gambling addiction) and now that the price of bitcoin is really high, i feel like the highest it could get this year is about $75k ( won't make a lot of profit ) and it also could go down and that would be the right time for me to buy.

[dragonvslinux]

A little unsolicited advise for you if not too awkward? For sure selling the swing low is never a nice thing, but also bare in mind price could go lower and this could always become a shorting range anyway, only time will tell and it's way to early yet. Who knows, maybe this is the price that myself and others cash out a reasonable amount on if price get's rejected from $50K levels. For example selling in 2017 $10K before price went to $20K would have felt dumb for a month or so, but doing so after would have felt like a smart move when ultimately prices dropped to sub $5K (meaning it was possible to buy back double the amount of BTC). Not that I have this perspective personally, but it's more about you never know.

From another angle, looking at your account registration (August 2018), I assume you managed to get acquire some sub $10K prices? If so, and these were the positions you were selling (this is an assumption here, but I very much doubt you waited until >$20K before gaining BTC exposure), then overall you sold for an amazing profit right? I'd again assume anywhere between 5-10x. While you might feel you're missing out on another 50% gain, but truth be told: no-one ever went broke selling at a profit.

My only advise would be next time, never sell the whole stack: ever.

[michellee]

Maybe the meaning of "No BTC holding is risky" if you do not hold BTC, you will be disappointed when you see the BTC price increase so high more than the price now or more than $64k because you do not have a piece of satoshi that you can sell at a high price.

But there is another meaning of that tweet: if you hold BTC, you will see the price go up and down every day, which is the risk you should accept.

Everything will have a risk, and that will depend on how you can manage the risk. Before you do something, it is better you research and thinks twice so you will not regret or disappoint in the future.

[Victorycoin]

If you have sold because you need that profit, that's fine. But you should also have that long term plan upon holding bitcoin.

It's risky to say not to own bitcoin because you're going to miss a lot. And that's why whenever you sell, make sure that you will also have that time and price to buy back so that you won't miss every time bitcoin goes up.

That's what some people don't get, that sometimes you need to sell your bircoin because you have some needs that needs fulfilling and the attention to those needs to be immediate. Totally agree with not owning any bitcoin, have experienced missing a lot of profit back then and I don't want that to happen again.

That is why it is important for us to move forward on the basis of experience let the market for bitcoin holding go that way we need to buy and hold bitcoin to get the right profit for this, the risk will be less if the market analysis and planning goes ahead. Before selling check the market to see how much it will go up longterm holding of bitcoin is important if you want to retain the right profit of bitcoin.

[Shasha80]

Maybe the meaning of "No BTC holding is risky" if you do not hold BTC, you will be disappointed when you see the BTC price increase so high more than the price now or more than $64k because you do not have a piece of satoshi that you can sell at a high price.

But there is another meaning of that tweet: if you hold BTC, you will see the price go up and down every day, which is the risk you should accept.

Everything will have a risk, and that will depend on how you can manage the risk. Before you do something, it is better you research and thinks twice so you will not regret or disappoint in the future.

Bitcoin has proven to all of us that it is one of the best performing assets in a pandemic situation like now. Therefore it is very unfortunate if
there are people who do not have Bitcoin, because the longer we can hold Bitcoin, the greater the profit generated. That's all because the price of
Bitcoin every year always increases, so immediately collect Bitcoin starting from now, before it gets more expensive. Although Bitcoin tends to be safe,
the risk is definitely there, because the price of Bitcoin is very volatile. However, this risk can be minimized or managed, in order to be able to
manage risk, knowledge is needed about how Bitcoin works. Therefore, before deciding to invest in Bitcoin, we must first learn all things about Bitcoin.

[zanezane]

What you did was risky, it's a bit stupid too, to leave no bitcoin in case the prices go up. The problem with you OP is that you have a bad management of your portfolio although your attenpt for now paid off, you might not be so lucky the next time that it happens.

[jostorres]

I have sold my BTC earlier @$31k-$35k range long ago. I have invested in altcoin then and made some great profits although I had to lose 50% at the end. Now, I own almost no cryptocurrency other than USDT and a few trash coins.

Yesterday, I was scrolling newsfeed on twitter and got someone tweeted like this, "No BTC holding is risky.' This is somewhat true when I thought it deeply. Now, I got the same feeling. It’s risky to not own any bitcoin. Fiat is getting devalued all the time.

Fiat's devaluation got nothing to do with the risk levels of not holding any of bitcoins. I guess you are referring your holding of USDT. But, I just wonder what pushed you to cash out around $35k levels even bitcoin was testing $65k levels some two months back itself. I read someother forum member had shared like they sold all their bitcoins when it was trading above $55k levels and then bitcoin tested $64k and finally tested $28k levels to get back in more numbers.

I mean if you have planned for selling at higher and then buying back at lower then you might be doing right but exiting bitcoin investments without proper vision on bitcoin's future is something not expected from a forum member like you.

[The Cryptovator]

I mean if you have planned for selling at higher and then buying back at lower then you might be doing right but exiting bitcoin investments without proper vision on bitcoin's future is something not expected from a forum member like you.

Everyone like selling high and buy back at the lower price. I don't know what do you mean by proper vision. If you are a trader then your vision would make profits by taking advantage of Bitcoin volatility. But a few traders like me always couldn't sell at in right time. The problem is anyone does not have the answer to what is the right time. That's the reason sometimes our vision becomes useless. If we expect we can sell at the top, it wouldn't happen with everyone since we can't forecast the price. For the long holders, they would have a proper vision like if the price does not reach in xx position they will not sell. For traders, it's not easy to fix a vision at all.

[Reid]

Thanks for the reminder.
I just recently talked about it with my friend. I always tell him it's the less risky method of investing right now than going for altcoins.
He is still having a hard time believing me because he doesn't see Bitcoin a lot with hypes. Dogs and NFT are mostly what he follows.
I think I will share that phrase with him and see if it would help a little to pursue him to consider instead of risking his money to an unknown future of other coins.

[Qunenin]

I have sold my BTC earlier @$31k-$35k range long ago. I have invested in altcoin then and made some great profits although I had to lose 50% at the end. Now, I own almost no cryptocurrency other than USDT and a few trash coins.

Yesterday, I was scrolling newsfeed on twitter and got someone tweeted like this, "No BTC holding is risky.' This is somewhat true when I thought it deeply. Now, I got the same feeling. It’s risky to not own any bitcoin. Fiat is getting devalued all the time.

Yes, Fiat will get more weakens as dollar will get more printed. Also altcoin are not safe because in bear market they became close to zero in value and there is no grantee that they will recover.
Only bitcoin is the most safest investment and if you can hold for 4 years you will be in grantee big profits.

[thecodebear]

Congratulations! It sounds like you're starting to realize you've been fooling around. Just buy Bitcoin and hold and cut the bullshit. It seems unbelievable that you have been on this forum for 3 years already.

Yup this is the answer.

People tend to trade or sell their bitcoin for crappy altcoins or get out after they've made a few hundred percent or something with Bitcoin. But you should basically always be accumulating. Once you've made so much money you're happy to spend it on things you could never have afforded before that's good to gradually spend it to change your life, but you should ever just sell all your bitcoin at any price because it will always go higher - always keep some skin in the game. And if you have extra income you should always be accumulating more bitcoin, even if you're selling some old bitcoin for massive profit.

Bitcoin is still in its very early days, so if you sold all your bitcoin this year OP, you're doing it wrong. You should be planning to hold most of your bitcoin for another 10 or 20 years. You don't want to be selling most/all of it at $30k, you want to be selling some of it at $1 million or $2 million, while continuing to hold some even at that point.

Buy and hold for many years is how you do bitcoin.

[Sanugarid]

It's not risky, it's a mistake not hodling bitcoin. One reason is thst you're missing out on profit when the prices are going up and two, you can't enjoy big profits if you decide to buy when the prices are going up continuously. And lastly, you risk losing your capital when you buy at high price since you didn't hodl bitcoin and then the prices started to go down for the short-term, unless you have the patience to wait it out, you will be fine but if not then you're capital is as good as it was just a fiat.

[dunfida]

Thanks for the reminder.
I just recently talked about it with my friend. I always tell him it's the less risky method of investing right now than going for altcoins.
He is still having a hard time believing me because he doesn't see Bitcoin a lot with hypes. Dogs and NFT are mostly what he follows.
I think I will share that phrase with him and see if it would help a little to pursue him to consider instead of risking his money to an unknown future of other coins.

He would surely realize those things later on when the hype is over or NFT's is been replaced with another new trend in the market.It isnt really bad to deal off with the current trend

but we should always consider on accumulating bitcoin in the end of the day rather than on focusing on  holding those coins.Well its not that prohibited but you should be wise

on when to get out for you to maximize your profits rather than on holding for too long.Ive seen lots who are just good for several weeks or months then die down.

[justdimin]

Everyone like selling high and buy back at the lower price. I don't know what do you mean by proper vision. If you are a trader then your vision would make profits by taking advantage of Bitcoin volatility. But a few traders like me always couldn't sell at in right time. The problem is anyone does not have the answer to what is the right time. That's the reason sometimes our vision becomes useless. If we expect we can sell at the top, it wouldn't happen with everyone since we can't forecast the price. For the long holders, they would have a proper vision like if the price does not reach in xx position they will not sell. For traders, it's not easy to fix a vision at all.

I am guessing that basically you need to have a proper "goal", like saying " buy at 43k and sell at 46k" type of things. If you have goals like that which means you are going to be fine, of course not everyone does that, for example I have been in crypto for years and I still just buy and hold and that's it, I rather not sell as long as I can, I do not even think about it, back in the day I was a bit lucky and sold at 2017 peak, but I was also immensely unlucky because I did that to pay my hospital bills, it is a bit dilemma, I am happy that I was capable of making a great amount of profit so that I could pay my hospital bills with it, but it was still hospital bills which is bad, but if I am going to be in hospital, knowing that I would be able to pay it is at least good.

So long story short, if you are a long standing member, you can't just "buy low, sell high" you need to have a specific goal (not according to me at all, I disagree with that).

[ene1980]

Yesterday, I was scrolling newsfeed on twitter and got someone tweeted like this, "No BTC holding is risky.' This is somewhat true when I thought it deeply. Now, I got the same feeling. It’s risky to not own any bitcoin. Fiat is getting devalued all the time.

May be he was holding any alt coins expecting it to rally and became a bag holder or anyone fooled hi with a custom token, if not who in the holy hell will be thinking like this because Bitcoin is the only coin in the market where you are certain that it will not give you a loss unless you flip outside down and start selling when the market is in a correction mode.

[rhodelmabanal]

I have sold my BTC earlier @$31k-$35k range long ago. I have invested in altcoin then and made some great profits although I had to lose 50% at the end. Now, I own almost no cryptocurrency other than USDT and a few trash coins.

Yesterday, I was scrolling newsfeed on twitter and got someone tweeted like this, "No BTC holding is risky.' This is somewhat true when I thought it deeply. Now, I got the same feeling. It’s risky to not own any bitcoin. Fiat is getting devalued all the time.

I can also see that crypto is slowly becoming a part of our life, there are so many gaming apps and e- commerce that is now using crypto, and I believe that crypto helps as a lot, many people are now making a huge profit in crypto and many people become a millionaire in crypto and I believe that those who believe in crypto will also make a millions soon.