How do you feel selling your BTC against your plans?

[CryptSafe]

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and  too  how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than  to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

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[bitterguy28]

trust me mate , you will regret that all your life as once I did this because of some personal matter that needs to be funded and that is totally against my will but have no choice back then.

if you can find way to fund your obligation to not sell your coins? better find it everything mate because this is what i did not those days.

But happy that now i am back on track and gathering my Bitcoin .

[hd49728]

A thought came over me while spending my BTC.

I had an emergency which requires an urgent attention and it involves funds. I had no option than  to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand.

It's a big lesson for you if it is your first time you experienced it.

How much do you love Bitcoin and want to spend all your capital to invest in Bitcoin, you must keep in mind that you must have another money source for emergency, just like the situation you shared.

Emergency can occur anytime and it's worse if you fall into such emergency months ago when Bitcoin was about $16,000 and you bought it around $60,000. You bought at top and had to sell at bottom because you have no choice.

Having another money source for emergency will help you to have stronger hands, to hold your bitcoins better and to avoid "buying at top, selling at bottom" even you don't want to do this.

[kizlod]

I didn't have that experience, but I'm sure it may happen at some point, I'm just doing my best not to do that. But I think it's not as bad and devastating as some might say, it's just money. No one will die if I do that.

[noorman0]

The actual level of urgency can be measured, for example if it's about something that threatens health or even life (either yourself or someone else's), then the market situation is no longer a major consideration for spending bitcoins.
When the benefits of money that you save for the future or unexpected things are properly realized, I think you won't really regret it.

[Fundamentals Of]

Thanks for sharing what you've gone through. I have never experienced this but I have been trying to avoid this all this time. I have already considered this possibility. There could be an emergency anytime, that's why you do not invest everything in Bitcoin. That is not a wise thing to do. You should only invest your extra money. Don't include in your risked money those savings that are set aside for possible emergencies and other expenses.

[Sebas.tian]

It makes someone to feel bad at the moment, because it's not your plan to sell your bitcoins but condition make you to sell, so that you can settle the situations on ground so that it will not affect your family or your future. I experienced it from one of my close friend in the Same lodge, who needed sum of huge amount of money to pay his school fees at the moment, so that it will not affect his final year exam, but he was looking for money to borrow to settle the school fees and pay the person back before the end of the year, because he believe that the price of Bitcoin will definitely increase higher before that date. But nobody to help him at the moment and he had to sell his bitcoins at lower price with tears on his face because the price of Bitcoin was too low in the market.

[Cantsay]

Unfortunate thing can happen unexpectedly. I have experience something like that maybe once or twice but not for Bitcoin it was an altcoin it fell below the price I bought and I kept holding hoping it will recover soon so that I can sell all of them even if I don't get to realize any profit as long as I got my capital back then that's okay for me but unfortunately something came up and the money with me wasn't enough so I had to sell even though the price was low. Although, I didn't feel much because I was dealing with altcoin and I knew what I had involved myself with.

[Despairo]

That's the main reason why most people tend to use Bitcoin as a commodities rather than as a currency, because they feel when they spend their coins, they're sell at lost. Actually it's not a problem because you still have a lot Bitcoin and you will not always make profit if you're in hurry.

Let's say you're sick, you're going to visit a hospital, you're offered an option whether you're need to wait for next 3 hours but you're only charged for $100 or you don't have to wait but you need to pay $500. Which option you choose? of course depends on your condition and disease.

[Reatim]

I didn't have that experience, but I'm sure it may happen at some point, I'm just doing my best not to do that. But I think it's not as bad and devastating as some might say, it's just money. No one will die if I do that.

it is not about dying if you sell your bitcoin but some dreams might die to become rich  

how many of us are trying to keep our bitcoin on hold and selling those for something we don't really want is a frustrating feeling.
and you can say that for now because it seems that you are not a holder or not investing big , nor don't have experience from the past halving bullrun.
once you have those? your views will change for real.

[btc78]

It is a tough decision i think , though I never cross this situation but if time will call me for? sure that I will decide with a heartbreak mate.

I have a friend that sold His bitcoin (and this is not against his will) but he really regret when the price climb high.

so what more those who don't wanna sell but needed to that moment and suddenly price pumped or Bull market comes?
that will truly hurt them .

[peter0425]

I didn't have that experience, but I'm sure it may happen at some point, I'm just doing my best not to do that.

but lets pray that this will not cross us mate (because I don't really want to face this in any case)

But I think it's not as bad and devastating as some might say, it's just money.

reading other posts? it seems that everyone here are being serious nad will carry this with heavy load of comes.

No one will die if I do that.

that is correct
exactly , this is just a money and we will earn this in the future .

[Maus0728]

If you regret selling your bitcoin, remember that there was someone who sold their 30 BTC for drugs on Silk Road way back in 2012^[1]. That wasn't even an emergency in the first place; it was just a craving for someone who wanted to have a little adventure on their own .

Kidding aside, if you don't have a choice but to sell, move on already and start accumulating or DCA'ing again instead of feeling sorry for yourself due to an uncontrollable situation. Whatever happens, happens.

[1] https://www.reddit.com/r/CryptoCurrency/comments/ncc1xz/in_case_you_ever_feel_bad_about_selling_early/

[Dr.Osh]

Well, I've been in the same position as that. However, I thought that there was no other way and I had to sell my assets due to circumstances. it might happen in 2020. but i really want to hold it.
This condition actually teaches us that saving emergency money is also very necessary. for example, we put 30% of our salary or the income we have for investment, while another 30% for emergency funds, and the rest for savings and living necessities. although it is an easy strategy to understand, very many people find it difficult to do, especially people who are saving money, or investing. other than that, it would be very good if we are committed to investing until our goals are achieved, and look for other alternatives to cover our urgent needs.

[CryptoBuds]

Yes, it is a very uncomfortable and sad feeling, but when it comes to emergencies, we need to prioritize. I once sold bitcoins reluctantly because I needed more money than my savings, so I had to sell most of my bitcoins. But I have no regrets because bitcoin is just money to serve life, and there are more important things to me. Another thing is I can buy back bitcoins whenever I have money, so I never regret it. On the contrary, I feel grateful to bitcoin because thanks to it, I have solved an important problem.

[Cuenta Alternativa]

This condition actually teaches us that saving emergency money is also very necessary. for example, we put 30% of our salary or the income we have for investment, while another 30% for emergency funds, and the rest for savings and living necessities. although it is an easy strategy to understand, very many people find it difficult to do, especially people who are saving money, or investing. other than that, it would be very good if we are committed to investing until our goals are achieved, and look for other alternatives to cover our urgent needs.

Well, emergency money does not make sense to fund it indefinitely at 30%. The most that is usually recommended is about 6 months' salary. More than that is being too conservative because you will lose money to inflation. So, if you already have 6 months of salary saved like the OP, the rest is better invested somehow. The problem is that sometimes you may have a more serious emergency than those 6 months' salary and be forced to sell, but it's far from the most common. In the last 15 years, the maximum unforeseen event that I have had was 2 months' salary, everything else I was able to foresee and save in advance to meet the expense.

It should be noted that if you already have the 6 months and you foresee that you have to make a repair to the roof of your house because you have seen a leak, you have to save that money separately.

So, it hasn't happened to me like the OP, but in the extreme case of an unforeseen event that forced me to sell part of my bitcoin, I don't think I would regret it, because I would be forced by circumstances and money is there for those occasions, not just for parties and trips.

[mv1986]

Whether you really have to regret a sell-off or not due to an emergency would actually remain to be seen in the future in such a situation. I did indeed have a similar situation years and years ago. It wasn't for that much, but still it felt bad. But what happened afterwards? So I took action and sold with a couple of stones in my chest, and right afterwards Bitcoin took a nosedive and I was lucky and could buy it back later on for less money. Did I regret that I had to sell? Luck was on my side obviously and that way the emergency was even cheaper than I initially thought.

You don't want to find yourself in a situation where you have to sell your entire holdings. That's bad and if I get you right you also only sold a fraction. But again, I was lucky enough to be able to buy back cheaper afterwards.

However, this is not the recommendation for anyone to try and time the market. Selling today and buying back cheaper tomorrow works as good as buying today and selling higher tomorrow.

[Obari]

With all due respect @OP I think you're getting the concept of saving wrong and there is a big difference between savings and investment.
I always feel bad when people get the concept of savings wrong and putting themselves under pressure trying to do what others are doing. The major purpose or aim of any person doing any sort of business is to make profit or make money and saving is just a way of setting aside some portion of the money for emergency issues or pressing issues when the need comes without having to bother anyone with your personal issues.
I don't know at what price you bought your coins but I really don't place so much emphasis on the red and green lines when making sells especially when I know the market price is above my bought price and @Op what truly matters is that you were able to sort your issues without bothering anyone and that's the real concept of savings.

[Luzin]

You don't want to find yourself in a situation where you have to sell your entire holdings. That's bad and if I get you right you also only sold a fraction. But again, I was lucky enough to be able to buy back cheaper afterwards.

However, this is not the recommendation for anyone to try and time the market. Selling today and buying back cheaper tomorrow works as good as buying today and selling higher tomorrow.

Actually I never wanted to sell my BTC. I want to collect BTC so that it is getting more and more. But sometimes there are needs that I have to meet and cannot be fulfilled from the money I have from working. Of course when selling I feel sad because my BTC amount is reduced. But from that incident I am excited to have more return the amount of crypto I have used. In the end I understood that indeed my goal of owning Bitcoin or crypto is useful to increase income as a fulfillment of family needs.

[andriarto]

the same thing happened to me, where i used to have Ethereum as a stash, because i had an emergency so i sold it without sparing it, it was at the end of 2020, and it was around $300. try if I hold it 4 months later, it will be able to smile broadly. but that's the journey of life, and I have to learn to let it go, so I can look for it again, and it just so happened that at that time ethereum was my only treasure, maybe it wasn't my luck, even though at first there was no intention to sell it