Take stock or hodl ?

[cheezcarls]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

Option #1 is clearly the best. Profit is profit rather than being greedy at all. I admit that for most of the time I was  doing the #2 option and it resulted for me to suffer huge losses for believing that it would keep rising. My new strategy now is that once that coin or token picks up steam and experiencing huge gains, I would take that chance to get the profit and wait for the dip to buy again.

It doesn’t matter how much profit do we get, after all we still win coz’ profit is profit.

[perfect999]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

I believe that you must have had a plan, at least you had a target that you wanted to accomplish before you invested in cryptocurrency. If you have gotten to that target, it wouldn’t really be bad to at least sell some of your coins and get some profits from the market. It’s not good to keep holding all the time, because you never know which direction the market may head to and you might end up losing your money.

It’s not that the market will not recover again, as long as it is Bitcoin there is still hope that it will still increase again and keep on increasing on a long term, but the question is when you are going to be in the need of that money? Because you might end up being in need of that money at a critical time when the market is very bad, and that will be a huge loss for you. So plan really well.

[ven7net]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

I am always a supporter of profit-taking, because I believe that we work and earn in order to make purchases for our life, and if we constantly hold the asset and not take profit, then the point is there? If you see the achieved goal, then you should probably sell your assets and the best solution would be to re-buy in the next fall. If you have not yet reached your goal, then you should probably wait for the expected result, the main thing is that your expectations and desires are reasonable and achievable.

[Silberman]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

What happens is that any of the two options are good, at the end everything depends on what are your goals for yourself and your needs at the moment, if you are invested mostly in good altcoins then it makes sense to keep holding them as I think the bull market of bitcoin is going to continue, however if you also have some altcoins with low volumes maybe it is a good idea to sell them and invest in some other altcoins with low volume which have not grown yet or invest in bitcoin.

[cloudfir3e]

If i were in your position, i would take advantage of what was right in front of my eyes. after that buy again at a cheaper price and move to another coin that has the potential to provide even greater profits.
but it all comes back to yourself how you do it. because I'm sure you will be wiser than anyone else.

[LUCKMCFLY]

This depends a lot on what the trader wants to do, if it is of an investor nature it is best to leave the currency until it gets really high profits, otherwise it is best to extract profits, at least 50% of profits and leave the other 50 % in investment, and the correct way to do it is to place a good stop loss and run it as the price increases, the Stop Loss works as the best lifeline against any sudden market movement because it is the only way to have protection to funds.

Stop-loss is very important because when the price drops it will save you, what if you buy higher than the current price of course you will lose while traders only want profits in the short term, but with stop-loss for me it is very used in when the market does not move downwards.

The best option at this time is holding, if you feel less confident when the price has become a correction, hold on until the specified time or recover, that's my choice at this time because it has experienced a reduction in value, but this will not go away for all.

Well I think that a reduction in BTC is a very healthy movement that can occur, however, it must be noted in context that recently there was a correction that lasted only less than 2 days, then the price began to recover, however the bears made it clear a message, and it is the simple way in which the market fell, there was no strong resistance above $ 60k, which tells me that there is still a lot of liquidity to be created so that a good liquidity pool can be created to withstand the attacks barish, however falling to the $ 55k level is very likely to happen, it can be done with great ease.

[bitzizzix]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

All decisions are in your hands and if you feel you have achieved your target and get a big profit, it never hurts to take the number one decision maybe some of the profits you get will be used to meet all your needs.
and the rest you can reinvest and take advantage of the correction to buy back when it hits the lowest price.
and the second option if you believe the price will keep going up and you don't need it just do it.

and I personally often do the first choice and after reaching the target and getting multiple profits I will do it to be able to enjoy some benefits to meet my needs and also to facilitate what I need.

[traderethereum]

If i were in your position, i would take advantage of what was right in front of my eyes. after that buy again at a cheaper price and move to another coin that has the potential to provide even greater profits.
but it all comes back to yourself how you do it. because I'm sure you will be wiser than anyone else.

I believe that is part of the strategy that many people use and still get a chance to make a profit from various coins.
That is a good suggestion because that means, we can use every moment that happens in the crypto market for our benefit.
Someday, if you still do like that, you can get big surprises from the coins to buy at a low price and will give you a big profit suddenly.
But it will depend on what he will do as I am sure that he will have his own strategy for the current market situations.

[worle1bm]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

If you want to cash out then sell some at high or at satisfactory profits but if you can hold the investment for long you could buy at the dip as an opportunity to gain more profits in the long run because it will rise in the end if you believe it.But in the end it's all your decision and you should take into consideration the factors that could affect you

[johnabner]

Its totally depends on our decision.
Both options are right suggestion.

[extenthorror]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

In my opinion take the HODL.

[Doell]

My advice is to sell it into fiat when you get a profit but if there is no other urgent need then invest again in several sources so you don't stop at one point ,your money will continue to flow and grow ! hodl is not the only way you have to maximize your profits in other sources ! The more products you have its better

[so98nn]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

Responding again since the market is dipping now. I hope you have already booked the profit and did not wait for the answer from us whether to sell or keeping holding. The selling period was over couple of days ago and its not amazing chance to invest your principle amount + your profits. I think you will have more bitcoins than before which you should be focused on so that you can get good break even point next time the bitcoin starts pumping up wards. It seems good chance if you have not already booked the profits. Still you can invest your money into bitcoin at todays rates and this will pull your BEP to lesser value as compared to what you had earlier. Always remember that you should be more focused on less losses rather than more profits. So first step is to reach to the BEP, then book the profits which you think are enough for you. Dont be greedy above that point or else nothing is gonna come in your bags.  

[teosanru]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

Even a kid would tell you that option 1 is better, but the entire problem is to wait for the next dip and to ensure that this is the last dip. I have seen people buying at 20k then selling at 40k, when the price went to 50k they thought they had such a great opportunity so they buy again and promise that they will HODL, so they buy at 50k, and then if the price falls down they sell at 40k again thinking that they will buy it again when the price goes down even further. Just don't be this kind of person as these kind of people will always get butchered in the market eventually,  if you are regular in markets and know how to time the market, go for option 1 other wise go for option 2.

[lixer]

Even a kid would tell you that option 1 is better, but the entire problem is to wait for the next dip and to ensure that this is the last dip. I have seen people buying at 20k then selling at 40k, when the price went to 50k they thought they had such a great opportunity so they buy again and promise that they will HODL, so they buy at 50k, and then if the price falls down they sell at 40k again thinking that they will buy it again when the price goes down even further. Just don't be this kind of person as these kind of people will always get butchered in the market eventually,  if you are regular in markets and know how to time the market, go for option 1 other wise go for option 2.

I am sure even he is aware that option 1 is better, but the reality is that people need confirmation sometimes on doing something. Just last year there was an investment chance for me, it was a token that really benefited a lot to my friends, and I decided maybe I should test that out as well but I wasn't sure.

So, I asked my friends if I should invest as well since they were making so much profit, they said "of course, it is silly that you waited this long" and I did a x4 profit from that, but I held too long and now it worths nearly nothing, thankfully I got out at breakeven but I made a lot of loss on that profit, I could have gotten out 4x. So, sometimes even something that looks like a surefire thing could go down, it wouldn't hurt to ask others what they think about it as well.

[SpAceSss]

So with the current peak on Bitcon, Ethereum (and nearly all of my alt coins) is it wise to:

1) Take out the profit to either bank or reinvest when there is another dip
2) HODL in the hope that it keeps rising and rising

HODL for sure, nobody can spill brai  your head but in my opinion you nee to HODL.

[teosanru]

Even a kid would tell you that option 1 is better, but the entire problem is to wait for the next dip and to ensure that this is the last dip. I have seen people buying at 20k then selling at 40k, when the price went to 50k they thought they had such a great opportunity so they buy again and promise that they will HODL, so they buy at 50k, and then if the price falls down they sell at 40k again thinking that they will buy it again when the price goes down even further. Just don't be this kind of person as these kind of people will always get butchered in the market eventually,  if you are regular in markets and know how to time the market, go for option 1 other wise go for option 2.

I am sure even he is aware that option 1 is better, but the reality is that people need confirmation sometimes on doing something. Just last year there was an investment chance for me, it was a token that really benefited a lot to my friends, and I decided maybe I should test that out as well but I wasn't sure.

So, I asked my friends if I should invest as well since they were making so much profit, they said "of course, it is silly that you waited this long" and I did a x4 profit from that, but I held too long and now it worths nearly nothing, thankfully I got out at breakeven but I made a lot of loss on that profit, I could have gotten out 4x. So, sometimes even something that looks like a surefire thing could go down, it wouldn't hurt to ask others what they think about it as well.

Haha this is why they say never go on what other people say but for a person new into crypto the lust for money seems much larger than that. I am very sure you won't do this stupid mistake again as you have learnt a lesson. OP's case is entirely different, we all know option 1 is better but I just tried to tell him that it's merely theoretically better not practically.

[suzanne5223]

There's nothing bad in taking out a profit, the next thing you do with the profit that's important but it will be a silly idea to change for fiat or keep it in the bank and it will be nice if you set aside the profit as a new capital to reinvest when dip.
Crypto will rise forever cause it will always experience a market blood bath when the time comes.

[Silberman]

There's nothing bad in taking out a profit, the next thing you do with the profit that's important but it will be a silly idea to change for fiat or keep it in the bank and it will be nice if you set aside the profit as a new capital to reinvest when dip.
Crypto will rise forever cause it will always experience a market blood bath when the time comes.

And you touch an important point, supposing the OP sells their coins then in what kind of investment opportunity can they invest their money? I mean what investment out there has the chance of growing faster than the market of cryptocurrencies in general? And I think there is almost no market that can do that, and with that in mind then it does not make the most sense to get out of this market when you can just hold your coins and obtain incredible benefits that way.

[suzanne5223]

There's nothing bad in taking out a profit, the next thing you do with the profit that's important but it will be a silly idea to change for fiat or keep it in the bank and it will be nice if you set aside the profit as a new capital to reinvest when dip.
Crypto will rise forever cause it will always experience a market blood bath when the time comes.

And you touch an important point, supposing the OP sells their coins then in what kind of investment opportunity can they invest their money? I mean what investment out there has the chance of growing faster than the market of cryptocurrencies in general? And I think there is almost no market that can do that, and with that in mind then it does not make the most sense to get out of this market when you can just hold your coins and obtain incredible benefits that way.

Cryptocurrency creates a lot of opportunities for people but it has its own limitation and this is the reason why it's advisable to take profit during the ATH market. However, taking profit doesn't mean getting out of the market and it means keeping intact your profit while the initial investment is still invested in the asset.