How do you feel selling your BTC against your plans?

[Viscore]

I would be surprised if someone would feel positive when something goes against regards his plans. Of course a person would feel bad if he is forced to sell his holdings before the price hits the amount he has set as a goal. Such urgent trades never goes good, as people not only sell at a lowest price, but also lose quite a hefty amount on commissions, because they dont have time to search for best offer on the market.

Gladly I was never in a situation like OP described. Mostly because of money pillow and money management. The money I invest in crypto I count as already spent money, so I never turn to them as an emergency funds. There is only one reason that can force me to turn to crypto funds and sell them - my or my family members health issues.

Good to hear if you are managing your investment well and everything happen based on your plans. However, for some here who have no left options but to sell because maybe the emergency funds are not enough, the feeling is really devastating. You could have sell them in a perfect price if you never sell them earlier than your plan. But that’s what life is. Sometimes we have to take some unplanned decisions even if it will badly affect us, but knowing it will be good for the person we love, then taking the decision should mean no regretting.

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[jossiel]

Good to hear if you are managing your investment well and everything happen based on your plans. However, for some here who have no let options but to sell

That's true.

We have no option but to sell because it is where most likely our savings is in and as long as it is in profit, we still feel the regret that we have to let go with our holdings because we don't know if we'll be able to take it back at the same amount.

Just think that you've used the profit in good purpose and that's already a great deal to you after holding it for a quick or long period of time. That's the best consolation that one will get by thinking that you've got the best deal ever with your money through investing in bitcoin and upon selling it in profit, you'll use it for that important thing you want to purchase.

[Tazzy4050]

Selling your bitcoins against your plans means you are giving up on your dreams, especially if you never thought about making money from such a volatile asset. Selling BTC does not give you the desired gain and it feels like losing your money all over again.

I'd love to know more about your plans, and how you're planning on meeting them. What will you buy with your earnings? How will this affect your way of life?

I see it as a business decision. I knew that bitcoin was going to be big, and I built a plan to profit from it when it happened. So I sold my BTC when they were $9,000 per coin and made me a millionaire in only a few days.

Selling my BTC against my plans (for now) to discipline myself on not spending in “the moment” is really helpful to me. I was able to sit down with my wife and explain that while we don’t count every penny, I needed to begin thinking about what I had spent so that as a family we could find a way to pay down debt. Once there were zero unspent expenses for the month, I knew that I was well on my way to being debt free.

[bakasabo]

I would be surprised if someone would feel positive when something goes against regards his plans. Of course a person would feel bad if he is forced to sell his holdings before the price hits the amount he has set as a goal. Such urgent trades never goes good, as people not only sell at a lowest price, but also lose quite a hefty amount on commissions, because they dont have time to search for best offer on the market.

Gladly I was never in a situation like OP described. Mostly because of money pillow and money management. The money I invest in crypto I count as already spent money, so I never turn to them as an emergency funds. There is only one reason that can force me to turn to crypto funds and sell them - my or my family members health issues.

Good to hear if you are managing your investment well and everything happen based on your plans. However, for some here who have no left options but to sell because maybe the emergency funds are not enough, the feeling is really devastating. You could have sell them in a perfect price if you never sell them earlier than your plan. But that’s what life is. Sometimes we have to take some unplanned decisions even if it will badly affect us, but knowing it will be good for the person we love, then taking the decision should mean no regretting.

That is why cryptocurrency investment is not the prime goal of my fiat expenses. I would rather make a money pillow in fiat, then spend funds on investment, that I might need to sell quickly in case of urgent need. If I invest, that is something untouchable. It will be the last source of funds I would use. That is what long term investment in Bitcoin is for me. Specially during current unstable market and often price drops. I would rather take a loan and return slightly more, than, for example, today sell Bitcoin I've bought at the price of $40k. The loss would be greatly less.

[Questat]

Good to hear if you are managing your investment well and everything happen based on your plans. However, for some here who have no let options but to sell

That's true.

We have no option but to sell because it is where most likely our savings is in and as long as it is in profit, we still feel the regret that we have to let go with our holdings because we don't know if we'll be able to take it back at the same amount.

Just think that you've used the profit in good purpose and that's already a great deal to you after holding it for a quick or long period of time. That's the best consolation that one will get by thinking that you've got the best deal ever with your money through investing in bitcoin and upon selling it in profit, you'll use it for that important thing you want to purchase.

Not all the time do our plans work so well, sometimes we got to reach tough days when we need to diversify our plans and take the plan B.
Might selling not at the perfect price is disappointing but I don't think it is a failure but kinda be a test of how we respond to the situation, especially when we are following the plan. This would tell us that not all can manage to hold and if they broke their plan, I believe there is a valid reason why it happens - emotional or emergency.

[LastKiss]

~snip~
 how was it like?

Well I have one experience or two maybe because there was an emergency case in my family and I need something fast so I decide to sell some of my Bitcoin to clear the problem in my family, one year later Bitcoin go boom and I end up to feel regret when selling my Bitcoin that time. Well later I decide to invest to use that money that I can afford to lose and far from an emergency use case.

[Inwestour]

That is certainly the most scenario we have to face, force to sell our coins because we have no other choices left. Yes, it’s always a bad feeling while doing that but if you will also be reminded why are you doing that, you might also feel some relief. We save bitcoin so we can have something to use in the future, and for some instances, that future might be now as selling could only resolve the current problem situation.

My strategy is that in addition to investments, you should have a reserve of fiat money available to you at any time. This is an airbag that is always available to you.

In most cases, this will keep your investments intact and you don't have to worry that this money is just lying and does not bring any profit, this is what will give you peace of mind and give you confidence in the future.

[bettercrypto]

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?

I think that many communities here can relate to what you said, and I understand that feeling too, there is that feeling that is against you but it is really necessary, then suddenly the value of Bitcoin increases and you wake up why did you sell the bitcoin you released?

      It's like when you stabbed yourself and you felt so much pain and in the end, you regret why you did that, it's like that's hard to explain. So this time if it's a long-term hold, I should stand by it, it's that simple.

[Kasabus]

I would be surprised if someone would feel positive when something goes against regards his plans. Of course a person would feel bad if he is forced to sell his holdings before the price hits the amount he has set as a goal. Such urgent trades never goes good, as people not only sell at a lowest price, but also lose quite a hefty amount on commissions, because they dont have time to search for best offer on the market.

Gladly I was never in a situation like OP described. Mostly because of money pillow and money management. The money I invest in crypto I count as already spent money, so I never turn to them as an emergency funds. There is only one reason that can force me to turn to crypto funds and sell them - my or my family members health issues.

Well, as long as the concerns are already the health of our family, I guess there’s always a rush feeling to do everything whatever it takes as long as we end up saving them. Even spending the last portion of our bitcoin, just to see our loved ones safe. However, if we can both save significant amount in fiat and bitcoin, maybe we won’t be compromising the need to spend our bitcoin as long as fiat can fully cover all the expenses. But I think only few people do this, as they give more emphasis on investment funds and leave few amount in saving fiat, or the other way around.

[mv1986]

I would be surprised if someone would feel positive when something goes against regards his plans. Of course a person would feel bad if he is forced to sell his holdings before the price hits the amount he has set as a goal. Such urgent trades never goes good, as people not only sell at a lowest price, but also lose quite a hefty amount on commissions, because they dont have time to search for best offer on the market.

Gladly I was never in a situation like OP described. Mostly because of money pillow and money management. The money I invest in crypto I count as already spent money, so I never turn to them as an emergency funds. There is only one reason that can force me to turn to crypto funds and sell them - my or my family members health issues.

Good to hear if you are managing your investment well and everything happen based on your plans. However, for some here who have no left options but to sell because maybe the emergency funds are not enough, the feeling is really devastating. You could have sell them in a perfect price if you never sell them earlier than your plan. But that’s what life is. Sometimes we have to take some unplanned decisions even if it will badly affect us, but knowing it will be good for the person we love, then taking the decision should mean no regretting.

That is why cryptocurrency investment is not the prime goal of my fiat expenses. I would rather make a money pillow in fiat, then spend funds on investment, that I might need to sell quickly in case of urgent need. If I invest, that is something untouchable. It will be the last source of funds I would use. That is what long term investment in Bitcoin is for me. Specially during current unstable market and often price drops. I would rather take a loan and return slightly more, than, for example, today sell Bitcoin I've bought at the price of $40k. The loss would be greatly less.

Hey bakasabo, I agree with you that Bitcoin investments should be considered a long-term investment in order to prevent yourself from getting caught by the whims of the market. If you know that there are urgent expenses in the foreseeable future, it is right to rather keep some cash under your pillow than to invest it with any short-term expectations for profit. Besides the fact that it can go utterly wrong, it is also a very stressful approach to getting problems out of the way.

I have written this article that could be of interest to you as it deals with Bitcoin's price development, holding periods and the advantages and disadvantages thereof. Feel free to have a look!

[Wiwo]

I have come across such a situation severely and this is the worst moment and decision for any Bitcoin holder, but then we know why we keep bitcoin since Bitcoin become our alternative to fiat.

-worst case scenario is when you sell way below the price you bought it, but one of the best thing to do is to build an alternative sources of income that could support you through those bad times, so that your Bitcoin will not become the only source.

[jayce]

I had an urgent situation that forced me to sell a major part of my bitcoin, in the worst fall of it in early of 2018. It's for a family issue that my personal saving wasn't enough to cover it. I was literally waiting for few days just in case if bitcoin price bounces back after its fall, but it was still on the bottom so I had no choice unless selling it. I was so sad right after I sold it, but when I rethought it, that was an extremely urgent situation so I had to. At some point yeah I regret it a bit but we can't blame it because family is my top priority, which I believe they will do the same for me. The lesson is I have to prepare a specific saving for this kind of thing that must be in stable asset, so when I need it, I don't have to sell my bitcoin.

[Rockstarguy]

I have come across such a situation severely and this is the worst moment and decision for any Bitcoin holder, but then we know why we keep bitcoin since Bitcoin become our alternative to fiat.

-worst case scenario is when you sell way below the price you bought it, but one of the best thing to do is to build an alternative sources of income that could support you through those bad times, so that your Bitcoin will not become the only source.

This is the challenge every bitcoiner come across, if not for problems we would have much Bitcoin in our wallet, but the financial challenges that comes our way shouldn't be an excuse of not accumulating much btc to hodl.

 Financial challenges will always be, therefore it is important we look for away to increase source of income by getting a side job that can help and enable us to invest bitcoin well without limitation called financial challenge.

[big kid]

I have come across such a situation severely and this is the worst moment and decision for any Bitcoin holder, but then we know why we keep bitcoin since Bitcoin become our alternative to fiat.

-worst case scenario is when you sell way below the price you bought it, but one of the best thing to do is to build an alternative sources of income that could support you through those bad times, so that your Bitcoin will not become the only source.

This is the challenge every bitcoiner come across, if not for problems we would have much Bitcoin in our wallet, but the financial challenges that comes our way shouldn't be an excuse of not accumulating much btc to hodl.

 Financial challenges will always be, therefore it is important we look for away to increase source of income by getting a side job that can help and enable us to invest bitcoin well without limitation called financial challenge.

It's tough, but I think on the other hand it's good, that we have BTC to back us up in critical situations, this is one of the reasons for investing. It's just money after all, it's good to have it, but if your life depends on it, it's better to spend it and that's ok.

[leonair]

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 definitely a bad feeling when someone sells their bitcoins or other cryptocurrencies against their plan. So no one is willing to sell crypto against his will very easily.  But some situations force us to do something against our will.

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.

Most precious and important in our life than anything else. So if our lives are threatened then we are bound to sell our crypto.  Because we hold crypto only for profit.  But if we spend our lives in trouble then there will be no point in earning money. So we are forced in this case to sell our crypto against our plan. But even though it became very urgent then.  Still a little sad to sell it

[Dickiy]

I experienced that at the end of last year, a very urgent situation and I ran out of my savings, which I provided and I was very forced to sell my bitcoins, even though basically I didn't sell my bitcoins but I regretted it quite deeply because my purchase price was quite high than the selling price at that time, if only I had borrowed from the bank maybe I could pay it back when the bitcoin returned a few percent in January maybe the regret wasn't as heavy as it is until now, maybe for some people the value isn't much but for me it makes me always think when I'm daydreaming.

[Kelvinid]

I have come across such a situation severely and this is the worst moment and decision for any Bitcoin holder, but then we know why we keep bitcoin since Bitcoin become our alternative to fiat.

-worst case scenario is when you sell way below the price you bought it, but one of the best thing to do is to build an alternative sources of income that could support you through those bad times, so that your Bitcoin will not become the only source.

This is the challenge every bitcoiner come across, if not for problems we would have much Bitcoin in our wallet, but the financial challenges that comes our way shouldn't be an excuse of not accumulating much btc to hodl.

 Financial challenges will always be, therefore it is important we look for away to increase source of income by getting a side job that can help and enable us to invest bitcoin well without limitation called financial challenge.

Investing should be planned well in order to avoid financial problems and losses.
Well, we could assume that Bitcoin will exist and increase its value in the future but honestly, not all are able to hold long-term. The truth is that even though we are too optimistic about Bitcoin, worries are still on our minds thinking "what if the market will collapse". A kind of thinking that we can't deny it influence our decisions and most likely when the market storm comes we easily got panic and sell our coins.

[kamvreto]

I experienced that at the end of last year, a very urgent situation and I ran out of my savings, which I provided and I was very forced to sell my bitcoins, even though basically I didn't sell my bitcoins but I regretted it quite deeply because my purchase price was quite high than the selling price at that time, if only I had borrowed from the bank maybe I could pay it back when the bitcoin returned a few percent in January maybe the regret wasn't as heavy as it is until now, maybe for some people the value isn't much but for me it makes me always think when I'm daydreaming.

You have been wrong from the start of the investment, using the money you still need as an investment. It will only end in a loss when you are left with no money left and end up having to sell bitcoins at a fairly low price, below what you bought them for. And if you use the bank loan option as an investment it will only add to the problem, you don't even know whether the bitcoin will go back up soon or not, while bank payments must be on time along with the interest charged. Borrowing money from a bank for investment is very risky, so use money that you don't need for any purpose to make long-term investments.

[dezoel]

I had the same thing plenty of times in my life, and that made me feel pretty good actually and not bad. In one of the cases it was actually a good decision to sell, because price went lower afterwards so I sold at the peak and that was a good feeling, but twice I had to sell when it was lower and I had to live with it, I am still paying the same debt, but could have been much higher but I cashed out all my money twice when it was low.

This doesn't mean it's a bad thing, it means it's a good thing, because I had some savings aside for these type of urgent and emergency related stuff, all three were related to life or death hospital stuff, and I am happy that I was able to pay them all without a trouble thanks to bitcoin savings.

[Dickiy]

I experienced that at the end of last year, a very urgent situation and I ran out of my savings, which I provided and I was very forced to sell my bitcoins, even though basically I didn't sell my bitcoins but I regretted it quite deeply because my purchase price was quite high than the selling price at that time, if only I had borrowed from the bank maybe I could pay it back when the bitcoin returned a few percent in January maybe the regret wasn't as heavy as it is until now, maybe for some people the value isn't much but for me it makes me always think when I'm daydreaming.

You have been wrong from the start of the investment, using the money you still need as an investment. It will only end in a loss when you are left with no money left and end up having to sell bitcoins at a fairly low price, below what you bought them for. And if you use the bank loan option as an investment it will only add to the problem, you don't even know whether the bitcoin will go back up soon or not, while bank payments must be on time along with the interest charged. Borrowing money from a bank for investment is very risky, so use money that you don't need for any purpose to make long-term investments.

I planned that the money that would go into bitcoin was that I no longer needed for a long time because I had an emergency fund which I estimated was sufficient to meet all unexpected events but what I experienced at that time, the incident was outside of my planning and the emergency fund that was being prepared could not cover the urgent need, so I was forced to steal the existing funds in bitcoin and sell them to cover it. The thing that makes me regret is that bitcoin is back on the rise in January and the gap when I sell my bitcoins is not long, that's why I talk like that.