Reasons why I might consider selling my Bitcoin.
electronicash:
we all have reasons when to sell our coins. if you sell because you need funds, that's really for a good cause.
but one good reason why some do it every time is when there is bull run.
traders would sell their coins before the bear market start or even before the bull run ends they already sold their coins because they wouldn't wait for it to hit the peakest during the bull season.
Mauser:
Quote from: Fiatless on March 28, 2023, 05:56:00 AM
In summary, there are just two broad reasons that will make me sell my coins, first emergencies such as sickness and loss of a source of income, and better opportunities that will give me more financial backup to buy more bitcoin.
That's a good summary of why people are selling their coins and I agree with point to sell our coins if we need the money for something important. For me health is also the number one thing to focus one. Hopefully you are okay and not selling your coins because of it. What kind of other opportunities are you going for, will you come back to bitcoins? In my opinion financial opportunities change quickly and I would only sell my coins for emergencies. If there is a short term opportunity to invest in I would rather try and raise additional funds than sell my bitcoins. When it comes to investing I strongly believe that we shouldn't put all our eggs in one basket, diversification is important. That's why I will try to always keep some bitcoins and sell rather other assets first.
Crypt0Gore:
I like your first point about health, you can't become successful if you are not in good shape yourself, you need to pray for better health in the future to enjoy your investment when the reaping time is right, a healthy man is indeed a wealthy man.
As for the business opportunity, I have sold some valuable things I have to buy Bitcoin, and I do not see anything worth trying out except Bitcoin, maybe it's just how I think, but I do have my own business and most of my money goes straight into Bitcoin investments. In my opinion, Bitcoin remains a golden business opportunity, because whatever business you pursue is still all about making more money. Isn't it?
The government has banned crypto for years in my country, since I was not accepting Bitcoin payment, there was no need to panic, I kept buying Bitcoin using my bank account, thanks to Peer 2 Peer on the Binance exchange, you can only get yourself in trouble if there is any word related to crypto when sending money from your bank account to someone else.
I have seen a lot of hardship in my life, there is nothing left that can shake my faith in holding my Bitcoin, if Bitcoin have no future the government wouldn't be trying all they can to kill it, definitely this digital currency is working.
lovesmayfamilis:
By investing their money in bitcoin, for sure, each person will have their own reasons and goals. Someone insures their money by investing in Bitcoin, and someone is waiting for a certain price to sell. In the same way, it can be said that some people still use bitcoin as digital money to acquire or buy goods. Waiting for a large value of bitcoin is normal for those who have another financial cushion that allows them not to turn to their investments for a long time. In addition, it is normal to expect a profit if it is significant, but for this, the investment itself must be a large amount. I will not deprive myself of the charms of life by saving on everything in order to get a little more money in the future. If I suddenly have an idea to buy something, and for this, I need to open a "safe" with bitcoin, I will spend it without hesitation. Our time is so uncertain that it is necessary to live in the now and not wait for tomorrow, which for some does not happen.
tranthidung:
Quote from: Fiatless on March 28, 2023, 05:56:00 AM
What can make you sell your bitcoin?
tl;dr
Your post is too long but skimming it, I got your opinion and my point is if you use all your money to invest in Bitcoin, sooner or later you will fall into one of those situations you mentioned, and have to sell your bitcoins at times you never want to sell such in bottom of bear market.
In short, make sure you reserve a bit of money in either fiat currency or stable coin to use in emergency. Because it is for emergency, fiat currency is better. Risk of de-peg from stable coin is another risk factor why you should choose fiat currency.
It is easily to say I have diamond hands and will hold my bitcoins especially in bull market. Assume you spend $10,0 00 in last bull market, buy bitcoin at $60,000 and months later you need money when bitcoin was about $20,000 and you have to sell it.
A simple calculation, you will have to sell your bitcoin at /3 price. Rather than selling a fraction of bitcoin with initial capital at $1000, you will have to sell three-fold of that amount just to get $1,000. Is it a good way to invest and hold your bitcoins? NO
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