Little Bitcoin investment becoming something else

[ektotanes]

This is not the best place to ask for advice. In fact, it's better not to take financial advice from strangers at all.
Probably, when you invested your money, you set yourself a goal - a target. Start from it and do what you think is the best.

For example, for me such an amount is not considered a big profit so I wouldn't sell it. But we're all different and we have different goals, so this could be a good deal for you.

[LogitechMouse]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?

First, what is the reason why you bought some Bitcoins? Is it for long term? Is it for short term? Is it for medium term? That alone will answer your question.
NGN4,657 is around 10$ in USD which is for me not a good profit knowing that you held your Bitcoins for more than 2 months. Just imagine getting only 10$ of profit for more than 2 months? I would suggest to add more, and hold it for the long term. 10$ profit for a week might be good, but for 2 months, I don't think so.

Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

This is the problem when you are being too emotional with your investments. There are sometimes that emotions dictate your decisions, and it happened this time. You choose to let your emotions control you thus, you didn't sell at the $30,000 price which is an obvious resistance.

So you are investing because you want to help your husband, eh? I don't usually suggest this, but if you really want to help, I guess do trading. Just the basic buy and sell might be good already. I mean there are some risks into it, but if you really want to help then I guess you will give some time to learn it right? It will be more profitable, but it will be more risky than the usual buy and hold strategy.

[Gallar]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

If the problem is taking advantage, in my opinion it is very relative. Because every bitcoin investor has different intentions in carrying out their investment, but in essence all investors also want to make a profit. But in my opinion, there are two ways to get profit by investing in bitcoin. The first way is to invest in bitcoin for a short period of time. Usually bitcoin investors who do this method always sell their assets when there is a profit, even though the profit is not too big. Then the second way is to invest in bitcoin in the long term. Bitcoin investors who do this method usually sell their assets every four years, when the bitcoin halving occurs. Because usually when a halving occurs, there tends to be a sizable price increase. If you research the price history of bitcoin, you will surely come across cycles where bitcoin experienced large price increases. I personally even if there is no very urgent interest, I don't like selling bitcoins, even though there is a small profit. So basically I personally too, am investing in bitcoin for the long term, and looking forward to the halving to come.

And my advice to you. If you don't have a very urgent need, I would suggest that you invest in bitcoin for the long term. But if you have a very urgent need, you can sell your bitcoin assets whenever you want, the most important thing is that you sell them when you have a profit.

[MainIbem]

Self discipline matters a lot during your investment journey, i know it is very hard to see your investments gets to some certain amounts and not taking profits from it. Sometimes you may want to wait for the market to get to some certain high level before taking profits, but initially you didn't specify the form of investment you wanted to make if it was for long term then there is no way you should have want to take profit despite the dip or if your initial intension was for short term you could have taken profits when it was around $31k. There are more to come about the market so you have to endure few months before selling it off, have this in mind that halving is around the corner and you may miss a lot.

[SmartGold01]

Anyone giving you any suggestions concerning that would be doing so from their point of view which may not go in accordance with your point of view, you are an individual here, you know what you want from your investment only you can be able to call the shot.

I understand your point mate, but what I understand is that " A problem shared is a problems either half solved or fully solved". Therefore me running to here doesn't mean i don't know what action to take but I might go the wrong way thinking i knows the best, it true other people's point of view and reasoning may not be the same as mine. I seen lots of reply here and i think i will have to wait a little more longer to see if there will be a market increase within the week or month.

[Stable090]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?

Congrat to you, it’s nice seeing that you are already in profits, but I went through the link which you attached to the post and people advised you to purchase bitcoin and hold till bull run start, but am surprise you are planning to sell your bitcoin so early, what am seeing currently is not a bull run yet, it will have been better you keep on holding since that was your initial plan.

Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

It’s always advisable if you are planning to hold bitcoin, you should be ready to hold for long term, and you shouldn’t invest any amount you will be needing soon in bitcoin or any amount you can’t afford to lose. Since you are planning to hold before, you shouldn’t be deceived by the little increase in bitcoin price. But since you are in profit already, then the decision is left for you to take either you sell or you keep on holding.

[Ultegra134]

Anyone giving you any suggestions concerning that would be doing so from their point of view which may not go in accordance with your point of view, you are an individual here, you know what you want from your investment only you can be able to call the shot.

I understand your point mate, but what I understand is that " A problem shared is a problems either half solved or fully solved". Therefore me running to here doesn't mean i don't know what action to take but I might go the wrong way thinking i knows the best, it true other people's point of view and reasoning may not be the same as mine. I seen lots of reply here and i think i will have to wait a little more longer to see if there will be a market increase within the week or month.

I don't blame you for asking other users for their opinion; it's perfectly understandable that you're interested in knowing what others would do in your or a similar position. However, the profit you're mentioning is extremely petty; is it worth the hassle? Even if you're an avid day trader, the amount of Bitcoin you own is also minimal, which makes it impossible to do so. I'm not remotely sure how much purchasing power these 4,500 Naira provide you with, but if I were you, I'd simply create a budget and stick to acquiring more Bitcoin.

Weigh your options and decide what seems best for you on such occasions; there's no right or wrong answer.

[Freddie Boyer]

This is not the best place to ask for advice. In fact, it's better not to take financial advice from strangers at all.
Probably, when you invested your money, you set yourself a goal - a target. Start from it and do what you think is the best.

For example, for me such an amount is not considered a big profit so I wouldn't sell it. But we're all different and we have different goals, so this could be a good deal for you.

I fully agree that seeking financial advice from strangers or the internet is not the best idea, but I think there is nothing wrong with sharing in this forum so that someone is more confident in making investment decisions and they are taken based on updated data and facts, even though the end abaout decesion maker is in their hands Alone.

[lixer]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Bitcoin is currently in a correction mode, so the price can go either way at any given time, the question that you are asking the community is something that only you should decide. The market is not very high at the moment, but it's not too low as well as in a correction, it can go even lower in the coming days, so it is up to you really.

If you think that you desperately need the money and since your assets are in profit, maybe you should sell them and use the money for your up keep as you said, but if you think you can manage otherwise, I would suggest you should wait for some time.

[thecodebear]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

OP are you trying to trade or are you trying to invest/hold. Since you talk about missing selling at $31k it sounds like you weren't planning on investing/holding bitcoin but rather trading. Unless you need this money for daily life you should just hold it. And really you shouldn't be relying on trading profits to use for daily life because as a stream of income it is inconsistent.

I would suggest you don't bother trying to trade, but just instead hold it long term. That way you grow your wealth long term, don't have to worry about taxes (assuming your country taxes gains in sold cryptocurrencies), don't have to worry about timing the market for trades as seems to be what is concerning you right now, and you can continue accumulating more Bitcoin over time if you have more money to invest.

[death69]

let's tackle the million-dollar question: hold or cash in? It's a head-scratcher, no doubt. But chill, I'm here to drop some wisdom bombs.

When you're rolling with Bitcoin, remember the golden rule: think long game. Bitcoin's like a rollercoaster on steroids, so trying to nail the timing? Good luck with that, bro.

Still, it's smart to have a strategy locked and loaded. If you're counting on that dough for daily life, snagging some profits might be your jam. But if you're in it for the long haul and can handle the market's mood swings, maybe just hug that Bitcoin tight.

At the end of the day, it's your call. Stay woke, have a game plan, and trust your gut. You'll rock the wild world of Bitcoin like a boss. And hey, if you're ever stumped, just remember the mantra: when in doubt, stack more sats!

[DiMarxist]

Selling bitcoin, it's your choice if you want to hold for long term, you bear the market, or involved in the risks,  It is good you purchase on the bear market and anytime when price goes up to your satisfaction, and you decide to sell it, that is left for you, and if you don't want to sell it all the same. And if you are an investor who wants a good profit out of your investment, it is better to hold for long-term before selling, and With this strategy DCA. If the price is up to your satisfaction sell, but if the price is not up to satisfactions, don't sell, be patient the price will rise again for you to gain more profit.

[bosede1]

Firstly, I checked the date of this post to be sure, the advice is still needed. Whoever mentored you hasn't done a good job. You bought the coin not longer than 2 months and you're planning to sell it. Alright, you will be the determinant for you to sell because your definition of profit differs from mine. For me, I hold my coin not lesser than a year before selling it off and by that time I will be getting 80% profit from any coin I sell.

[jossiel]

HODL.

Four letters but could really change your life if you become consistent with it. And while holding, DCA. Three letters but also one of the best strategies that can be combined with holding.

You decide.

We've decided already and we're doing it because of how we experienced it in the market. There's no regret on my part.

[sokani]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

Well my friend, the N33,000 you invested based on today's dollar/naira conversion rate should be about $44.9 and the N4000 profit you want to cash in is about $5.4, which is not really worth anything. I understand you not wanting to depend on your husband but if I were you I wouldn't allow my emotions to play on me and I would buy more and add to it and hold for the bull season, that's when you're going to make good profit.

[Lanatsa]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?
Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

Dont be run down or getting affected with your emotion because this would be the main reason on why you would be ending up on selling on loss specially when the market is really on bearish state.
Its true that the price could really eventually get backed up but of course since you do make out some selling point then it would really be testing out your patience because there's no way on telling
on how the price would behave on next days or months to come. Stand still with your goal and accumulating is something that we should be having in mind.
Stick into that goal because it would really pay off later on.

HODL.

Four letters but could really change your life if you become consistent with it. And while holding, DCA. Three letters but also one of the best strategies that can be combined with holding.

You decide.

We've decided already and we're doing it because of how we experienced it in the market. There's no regret on my part.

You would definitely regret if you do sell cheap. We are still on a bear market i should say or onto that consolidation part on which bull run is still bound to happen in next years.
Therefore it would really be just that sensible that we should really be that accumulating while its still cheap because if you do make yourself get left behind
then you might be ending up on whining just because you had missed out on buying while its still down.

[Kgdktac]

you may want to consider setting a personal investment strategy that aligns with your goals and risk tolerance. For example, you may want to decide on a target price at which you would be comfortable selling your bitcoin and taking profit, or a stop-loss price at which you would sell to limit your losses.

Ultimately, the decision to hold or take profit is a personal one that depends on your individual circumstances and investment goals.

[Raflesia]

Any suggestions given here will be quickly implemented because I know we have more bitcoin lords here.

It comes back to what you really want.
Some heads will clearly have different thoughts, and we know that so what other people say is true may not necessarily be in accordance with our wishes, and vice versa, what we think is correct may not be quite acceptable to other people.
Make your own choice, do you still want to hold it or do you really take advantage of it and hope to go even lower and buy it again at a lower price or do you really hold it by continuing to wait for the desired target.

But when referring to my condition, for now I still continue to hold my assets and it is precisely this small correction that I always do as a reason for additions to make my portfolio fatter.
It's also not wrong to take advantage of it because indeed it is money that you have from the results of your previous detention, so the decision is clearly in your own hands.

[salad daging]

Before going further i will appreciate if you read my previous post Stated " How I decided to buy some fractions of BTC after discussion with members". Since on February 2, 2023 I bought some fractions of bitcoin with just NGN33,000 then which was approximately 0.001848BTC in turns of NGN37,657 almost about NGN4,657 increase (profits) do you suggest I should hold or take profit?

It depends on your situation whether to hold or sell it because no one has the right to it except yourself, but for bitcoin investment goals, do you plan for the long term or sell at a certain price, for example $ 30k, is the selling target?
Always the best advice is to hold if you invest in bitcoin but if you sell it is your decision even if you have made a few dollars profit on the initial investment purchase.

Usually i don't know what the market may looks like in the next 1 months to come, I missed selling at $31k since I was thinking it will gets to 40k but the market keep scaring me and you know emotion is being attached to this so I have to run down here to seek the best opinion on what to do comparing my condition as young mother who needs money for my up keep, since i don't like bothering my husband for money so i believe i can make out something good from here.

That is the market is indeed difficult to predict even if you believe the price of bitcoin can reach $ 40k but the reality is different, when the target is not achieved what is desired is common when there is fear, emotion and panic but if you need money for that need then sell your bitcoins because basic needs are far more important than stressful investing, remember I suggest you invest in cold money so that there is no pressure to mix with your needs.

For example if you want to make a few dollars from bitcoin by buying low selling when the price goes up but it doesn't matter as long as you can do what is your goal to make ends meet.

[drwhobox]

Firstly, I checked the date of this post to be sure, the advice is still needed. Whoever mentored you hasn't done a good job. You bought the coin not longer than 2 months and you're planning to sell it. Alright, you will be the determinant for you to sell because your definition of profit differs from mine. For me, I hold my coin not lesser than a year before selling it off and by that time I will be getting 80% profit from any coin I sell.

Maybe you have skipped some of the comments where members suggest OP to hold his coins and invest for long time. You don't need to accuse anyone here, you can always give your suggestions no matter OP got his answer or not.
Always invest for a long time, that is the only suggestion from me. If you can hold your coins for a long time you can make profit.