Long Term Holders - When Do You Plan To Cash Out?

[Pejoh Asu]

I guess the right answer will be - when long term holder needs fiat, he will cash out. For me, there is no specific date. For me, cryptocurrency is not my primary source of income. I usually set some goals, like when Bitcoin hit ATH, cash out a little part to celebrate. Or right now I want to replace current laptop with a new one. As replacement is not urgent, I am planning to hold signature rewards until I get about $2k and cash out, while keep on holding crypto from trades.

I definetely agree that it depends on goals and circumstances. However, I set myself the goal of going into cache with a profit of at least 40%. If this percentage is not reached, I try to postpone the moment of caching out and look for other ways to meet the needs. And of course, I try never to sell everything I have.

Determining the goals to be achieved is very important to be able to profit, if the target has been met then you should immediately sell or create a new target again, and I prefer to sell when the profit has been achieved and see market conditions if the market drops again then buy immediately.

[AicecreaME]

Everybody is in a different situation. Anybody who bought pre 2017 should probably have taken some pressure off their lives by buying a house or something. Never sell all your bitcoin, hell don’t sell over 50% but it’s a good idea to sell some to make significant positive changes to make your life better.

Can't agree more. We have different status and priorities in life. Hence, the time we plan to cash out varies from one person to another. Depending on the situation you are in, you can either hodl until you can and/or cash out from time to time whenever you feel like it or need it. After all, we should still enjoy the fruit of our patience even just for the little things.

Personally, I prefer to practice delayed gratification so that the reward will be bigger and more satisfying the moment it's already the right and perfect timing. It could be different to you and to others because some might have cash out now because they need to in order to survive or get by.

[Ultegra134]

One of the things I regret the most was not holding the Bitcoin I had acquired a few years ago, I didn't really need those funds but had cashed out a large chunk of them. Luckily, some of which was saved till now and was invested in DeFi projects and managed to earn a decent sum of money.

After this experience, I'm trying to save as much Bitcoin as possible. I'm not sure when I'll withdraw again, certainly not before surpassing the last all-time high. Currently, I'm not need of funds, thus, I'll keep on holding.

I feel you and this experience also costed me an opportunity of not taking advantage of BTC's volatility and inflation.

Back in 2017, I was privileged enough to participate into various campaign signatures where I earned a handful amounts of BTC during my stay. Since the price of BTC was relatively low (around $5,000-$6,000), the denomination and pay of each campaign signatures where high. Due to financial difficulties, I had to cash out my BTCs weekly in order to provide for my education and materials since I was a college student at that time.

Fast forward to today's year, if I did not cash out my BTCs from all the campaign signatures I have participated, I would have saved at least $30,000+ which could have granted me an opportunity to purchase a car for my dad. That is why, this expensive lesson taught me something- to at least cash out my BTCs if I direly need them. I could have worked my ass-off by doing part-time jobs but I chose the easy way out.

Wasn't paying attention to the thread and hadn't seen the latest replies.

Trust me, I know exactly how you feel. A few months ago, I stumbled upon some signature campaign spreadsheets, back from 2016-2017. The payment amount in BTC was huge, compared to now, even the lowest paying ones could eventually, if you were persistent enough, set you back with a decent sum of Bitcoin.

Unfortunately, most of these earnings are now sold, at a way lower price, compared to what we have now.

~Snip~

If you have no important stuffs to buy, then just hold it as much as you can. After all, bitcoin will always grow in value despite of its unpredictable price volatility. However, if you want to have consistency in making profits, then sell some of your bitcoin when a new all time high is reached. That will motivate you more to buy and accumulate more bitcoins when their price is low so you can start selling them at a reasonable high price. You may sell some, but leave some of them for long term hodling and for future profits.

I'm not currently in a huge need of money, thus, I'm not planning to sell anytime soon, unless I really need to. So far, I'm managing fine, Bitcoin has proven its worth throughout the years, the greatest things are yet to happen.

[oHnK]

Personally, I prefer to practice delayed gratification so that the reward will be bigger and more satisfying the moment it's already the right and perfect timing. It could be different to you and to others because some might have cash out now because they need to in order to survive or get by.

The condition of their portfolios that have bought in 2017 is of course very profitable, and if they take the right momentum at the beginning of May 2021, of course their profits are very appropriate for withdrawals.  Although it would be better if it extended the hold duration so that it would reach new ath at an uncertain time.

[buwaytress]

Wish I could have the staying power of some of you. Now I'm by no means an early adopter, my account age alone tells you the earliest I could have gotten in and that was shortly before THAT all-time high.

I've got 2 targets. One is a dollar value, one is a date value. The first I believe is unlikely, but if it does happen, I'm not going to be greedy -- but also assuming this dollar value retains more or less the same purchasing power of today. Why I won't budge from this, and why the second target is, is because of the keen knowledge that I'm not going to live forever.

I'm a simple guy, I have dreams like everyone else, but my personal dream of comfort and "doing what I really want" actually won't be very expensive. But I couldn't do that without the guilt of not providing for those who rely on me, such is the sin of the prodigal son. So those targets really are to buy off that guilt. Make those I care for comfortable enough they don't suffer if I go down the hole of self fkery.

Since the date target is likelier, that's in about 10-15 years, or rather, 4 halvings away thereabouts. Cause if Bitcoin ain't anywhere when it's producing less than 0.4 btc per block, I ain't waiting around. Otherwise my knees won't carry me around much. Blame football.

[Viscore]

One of the things I regret the most was not holding the Bitcoin I had acquired a few years ago, I didn't really need those funds but had cashed out a large chunk of them. Luckily, some of which was saved till now and was invested in DeFi projects and managed to earn a decent sum of money.

After this experience, I'm trying to save as much Bitcoin as possible. I'm not sure when I'll withdraw again, certainly not before surpassing the last all-time high. Currently, I'm not need of funds, thus, I'll keep on holding.

Buying and holding bitcoin has always been our dream. But if we had already a large amount of bitcoin in our wallet, does it make sense if we keep  it hodling forever? I guess not. The value of bitcoin will always grow for sure but we are not going to experience profits if we never sell some of them. Buying and selling bitcoin has always been a good strategy to see consistency in making profits, but of course we will only sell if the value is very high and if we are in need of funds.

[Coyster]

I prolly could consider myself a long term hodler cause i have come to understand the Bitcoin network, and i would want to be in the network for a very, very long time indeed; but as regards "cashing out", i am not rich in Bitcoin, i mean i do not have so much Bitcoin and i definitely do not feel any pressure, i can imagine if i had a certain amount in Bitcoin, then i could have thoughts of converting a fraction of it and putting it somewhere else, but as things stand now, i have not accumulated that much Bitcoin to worry myself about selling, i am basically just hodling and that is that.

Having said that, there are not all that many options of what to do with your physical cash if you sell your Bitcoin, yes i know there are a million options, but what i mean is something that is or could actually be better than leaving it in the Bitcoin network. Your option with stablecoins is a no-brainer for me, for obvious reasons actually, as for putting them in my bank account, i am from a country that is hit so hard with inflation, i would only be foolish to sell my Bitcoin and leave them in my depreciating/devaluing national Fiat currency.

I believe in mass adoption, and a time when Bitcoin wouldn't be as volatile as it is now, i also have the believe that somewhere down the line Bitcoin would become a safe haven asset, if all of this is possible, would there then be any need to sell Bitcoin out of panic and other reasons, i know even then one may need to convert to Fiat every now and then for obvious reasons, but you definitely would not carry the burden of spontaneous volatility in mind and you can sleep well knowing your funds are hedged in a great store of value, so why sell it all.

[Cookdata]

The first objective of any investment you see is profit, why would anyone want to invest in bitcoin if they don't plan when to sell, you can't hold forever but that doesn't mean you have to liquidate all your holdings, there are points in life that you need funds to settle other areas of life when they don't want to opt for loans.
If I can have my way of purchasing a large amount of bitcoin, I would sell when it peak and buy back when there is fud, one of the perfect ways of getting some cash to settle other parts of life and bid more on bitcoin.
But there is something we are not discussing! If not that Microstrategy and financial institutions have now picked interest in bitcoin and digital assets, if bitcoin is struggling like the old days, many wouldn't believe it as revolutionary assets but all is fine, hold the little you can and sell some when the right time.

[ItsCrafty]

I will hold at least 5 years. I stored in my hard wallet . generally i like short term trading and most of my port of portfolio consist of short term coin but I still believe that Bitcoin is king and i never want to miss a chance. I hope in 2027 Bitcoin might hit 500k or atleast 300k and thats enough for me rather than nothing.

[ChiBitCTy]

The other thing is if someone has that much money, wouldn't it make sense for them to sell all their btc and basically invest in stablecoin and just earn passive income from it?  Imagine someone with 5 btc and btc goes to 500k.  That is 2.5 million dollars.  After tax, let say they still have at least 1.5 million.  But assuming they were holding long term, this number probably would be a bit higher?  But let say use 1.5 million dollars after taxes.  If that person takes 1 million dollars and then go buy a stablecoin like usdt and stake it on nexo or blockfi or gemini and earn at least 8%... they would earn 80k-100k a year in passive income in that stablecoin which they could then immediately turn it to fiat and cash to their bank account.  That is more than enough to live on assuming you do not have crazy expenses.  



Now obviously someone could also do staking of stablecoins if they earn a lot of money from stocks or real estate or whatever it maybe.  But wouldn't that be the smart thing to do if someone has that much money?  Putting money in a regular bank account make zero sense since you don't even earn 1 percent from it... more like 0.01 percent.  Also from what I read, with real estate, sure you earn money buying a house and renting it out but you gotta handle repairs and so many other things.  So it seems like putting money into stablecoins is the way to go assuming one has a good amount of money no matter where they earned it from?

You should always have a foundation of traditional investments set. That’s first and foremost. I’m talking mutual funds, ETFs, retirement plans like IRAs etc. Staking is a very risky proposition, it’s much less secure than most “traditional” investments. There’s still plenty of money to be made in the US Stock market and often a whole less risk. Sure maybe put a small amount of money in high risk high reward assets such as DeFi and staking, but don’t lose your ass on it.

Also this is not the place to be asking for investment advice, most people here will offer their opinion but truly not have a clue what they’re actually doing or talking about. That’s just being honest, so beware.

[Ale88]

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?  I am talking about the coins you are holding long term and not trading or selling short term etc.  Such that if you have a set amount of btc or crypto where you are holding long term.

Everyone is different, it depends what are your life goals, where you live, what you want to do in the future... In my case I hope that some day I'll be able to afford buying a house thanks to bitcoin, that would be my dream. I'm not talking about anything special, not a mansion, not in a big city, just a nice little house. I hope to be able to do it in the next 10 years.

[19Nov16]

I've never had a specific target when holding bitcoin, this is because the market is always unpredictable, when I get at least 25% profit then I sell immediately, or if I really need cash then I sell even though the price is red, I'm used to trading from 2015 and this simple technique allowed me to make a profit even though it was not significant.

[doomloop]

As long as I don't really need money then I will continue to hold, on the other hand if I need cash and there is no other alternative then I will sell even though the market is red, I think long term hold is an easy but very effective strategy to get big profits, and as long as I hold bitcoin, the results are very satisfying because I always profit, maybe the first hold term and make me lose is 2018

I agree with this. Even the question itself about when to cash out is against the rules of long term investment. It is a long term investment so there is no end in sight, it will never be ending, it will go on as long as we have to.

Do you think that every single stock Warren Buffet owns or Berkshire Hathaway owns will be dissolved and turn to liquidity as soon as he dies? Of course not, maybe some, but not all. I believe that if I never need the money, I will never sell it, if I need it then it is a different story. The best method is to never have an exit strategy in mind and to get as rich as possible by holding as long as it is possible.

[dragospirvu75]

I made a 5-years plan. Bought in may 2020, plan to sell in july 2025, when I will finish my master degree.

[Ale88]

I made a 5-years plan. Bought in may 2020, plan to sell in july 2025, when I will finish my master degree.

It's interesting for me to see that instead a fiat value goal you have a date to sell. I'm curious to know what you would do in case 2025 is a bad year compared to 2024 and, let's say, bitcoin value is half than the previous year, what would you do? Still selling anyway? Or at that point you'd wait?

[retreat]

personally i think to cash out my bitcoin (long term) when the price breaks through $400k/btc. I am 1000% sure the Bitcoin price will touch that level, although we don't know when it will happen but I have a strong intention to patiently wait for BTC to that price.

[pawanjain]

I believe everyone has their own plans and the ones who don't basically depend on time. Time makes them do actions based on the situations.
Some will cash out when their desired target is met and some will cash out when in need of an emergency.
So might cash out when they think that the market is gonna crash while some will wait for a very long time and will cashout when they decide to exit.
There might also be some who will never cashout and will probably inherit their coins to their known people.

For me, I haven't decided when I will cashout so for the time being I will just hold until I can and leave the rest on time.

[Jating]

The only problem facing bitcoin holder is time, I mean you need to have a mentality not to be tempted and sell out specially when we reaches new all time high. So it's better to really understand that and learn to practice and restrain yourself from selling. For the majority they could have a target of at least 1 BTC (for average investors or even more), but for whales sky is the limit. So most probably 2-4 halvings from now is a good gauge and see if we can hit our target or remain to be in the game.

[Ultegra134]

One of the things I regret the most was not holding the Bitcoin I had acquired a few years ago, I didn't really need those funds but had cashed out a large chunk of them. Luckily, some of which was saved till now and was invested in DeFi projects and managed to earn a decent sum of money.

After this experience, I'm trying to save as much Bitcoin as possible. I'm not sure when I'll withdraw again, certainly not before surpassing the last all-time high. Currently, I'm not need of funds, thus, I'll keep on holding.

Buying and holding bitcoin has always been our dream. But if we had already a large amount of bitcoin in our wallet, does it make sense if we keep  it hodling forever? I guess not. The value of bitcoin will always grow for sure but we are not going to experience profits if we never sell some of them. Buying and selling bitcoin has always been a good strategy to see consistency in making profits, but of course we will only sell if the value is very high and if we are in need of funds.

On the one hand, I do regret selling in the past, however, back in 2017, the ATH of $20.000 looked astonishing for that time period, thus, selling seemed like a viable and decent option. I never expected that 3 years later, in 2020, I'd deeply regret it. No hard feelings though, money comes and goes, I've got plenty of stories to share about how I wasted my Bitcoin in 2012-13, there's no point in looking back in the past, but only move forward.

[lalabotax]

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?  I am talking about the coins you are holding long term and not trading or selling short term etc.  Such that if you have a set amount of btc or crypto where you are holding long term.

They must have a plan to sell it, holding BTC won't be forever. But each holder may have a different target about how long to hold. Some may hold till the next bullrun period or halving season, some may plan to hold 5 years, others may want to hold more over 10 years. It depends on how big the target is, to be achieved by the holders. But for my BTC, the longest holding may be around 4-5 years, I prefer to rebuy again than hold too long.