Little Bitcoin investment becoming something else

[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.

[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.

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.

I guess we're no longer in the bear market but the chance of going and transitioning into bull run is higher.

Well, on this matter, to each their own. If OP or someone out there has made a profit, they can sell anytime they want especially now the price is getting higher.

But for sure that many will feel that there's more to this increase and it won't stop from there.

[Baoo]

Well, if you don’t wanna take a risk, simply play it safe and make your strategy simple, it could be by investing fractionally or in parts. In addition to that, it seems that Bitcoin’s correction is just ended,  at this moment the current price is almost $30k and it is expected to see another rise in next few days. As far I am concerned it will probably hit $35k in 1-2 weeks. In fact, maybe this is a precious chance to invest a large money in Bitcoin. If you have an acceptable amount of cash or stable coin, don’t hesitate and to convert them in BTC but as I have mentioned it is preferable to be fractionally due to the market in unpredictable and volatile.

[cydrix]

If taking advantage is the issue, then it is definitely relative, in my opinion. Because while each bitcoin investor has a different goal in mind when making their investment, at their core, all investors want to earn. However, in my view, there are two methods to benefit from bitcoin investments. The first method entails making a brief investment in bitcoin. When using this strategy, most bitcoin investors usually sell their holdings when there is a profit, even if the profit is modest. The second option is to make long-term investments in bitcoin. Those who use this approach to invest in bitcoin often sell their holdings every four years, when the price of one bitcoin is halved. Because a halving typically results in a significant price increase. There have undoubtedly been cycles in bitcoin's price history where there have been significant price gains. especially though there is a modest profit, I personally don't like selling bitcoins, especially if there isn't much immediate demand. In essence, I am investing in bitcoin for the long run and eagerly anticipating the impending price halving.

[Rigon]

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.

Your decision is undoubtedly a very good one. It is always best to try something on your own. One should never be dependent on others. You can sell your investment if you think I will buy bitcoins as a short-term investment and sell at a profit. Also if you are investing for long term then you keep your investment no need to take any decision here. But from my point of view it is best for you to invest in short term. A few days ago when the market was at 31 thousand dollars, you had a fairly good profit, if you had sold it, now you could have bought it again and made the same profit again. That's why I suggest you to invest short term rather than your long term investment as you can earn more.

[michellee]

If you already have those bitcoins, I suggest you buy them again while the price is still low and keep them for a while. Don't sell it when the price is low because your profit is not big.

You have to be patient for a while especially since the current market situation is still in a state of correction so we all have to keep holding bitcoins. But that's just a suggestion because if you want to sell the bitcoins now, that's up to you.

And as long as you don't have an urgent need that must be met immediately because you don't have much money, you can just sell the bitcoins to meet that need. Each person has their reasons for holding their bitcoins and you are free to want to keep holding or selling them and take the profits.

[Dzwaafu11]

Advising you on how to utilize your coins is a horrible idea since I believe you have a plan for these coins since the day you bought them, and it is up to you to decide whether to spend the coins or remain hoarding them. But, if you recognize that you need money to meet your needs, as you stated, why should you bother getting advice from others? You are the one who suggests that you either postpone your maintenance or continue hodling. Or you can use your coin to address a necessary necessity, I believe.

[Supreemo]

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.

Depends on what you're timeframe is. If you're simply planning to sell because it's going down, probably a dumb idea. I'd suggest you to replan your investment ideas and set up a specific time frame instead, or maybe a specific profit at specific time frames, multiple ones so that if it doesn't go according to it you can go to the next one.

Now If you're selling because you're gonna buy and sell in the short term, I reckon anytime you profit is a good time to sell, you can simply buy at bigger dips when they come.

it's better to buy at the bigger dips and hold, wait until it pumps up again this might work if you're thinking for long term investments but if you're after in short or you buy at the high price then it dumps and try to sell then because you're afraid that it's a loss then probably it's a dumbass idea. if you're planning investing in short term then you should be prepared about the outcomes since it's risky and you should invest what you can afford to lose.

[Smack That Ace]

~snip~

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.

But if you read carefully what the OP said, she needs money to raise her children, and it is an urgent need, so it is up to her to hold or sell. I still prioritize parenting, and if she doesn't have a solution to that problem selling bitcoin is the right thing to do. I know she is very strong because she does not want to depend on her husband. But do not invest with money to raise children because bitcoin is not an easy and quick place to make money.

[ipanks]

it's better to buy at the bigger dips and hold, wait until it pumps up again this might work if you're thinking for long term investments but if you're after in short or you buy at the high price then it dumps and try to sell then because you're afraid that it's a loss then probably it's a dumbass idea. if you're planning investing in short term then you should be prepared about the outcomes since it's risky and you should invest what you can afford to lose.

Yesterday there was a drop as you said. So it is a good time to buy bitcoins. I suggest not waiting for the price to pump up because the profit isn't big yet and you should keep holding the bitcoins until they touch the last ATH price. That would give him a huge advantage.

[crunck]

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

I just want to say that if you're going to make money from bitcoin, you need to hold it longer, with what you share, you have only invested in bitcoin for less than 3 months, so it is very difficult to expect a profit. But if you need money for emergency work, then selling bitcoin is also a good thing to do and not regret it because you can reinvest it later when you have the money.

[kryptqnick]

The sum isn't very big, at least in my understanding. So, in such a case, I would treat it more as an experiment or a starting point (to invest more in the future), and thus wouldn't bother selling right now. But that's not financial advice, as the op should do their own research, think about the context and priorities. If you're ready to wait for years, perhaps it's better to wait. If you might need the money in summer or autumn, there's of course a risk that Bitcoin will fall once again. Another approach could be to sell occasionally small bits of profit that's being made, but if the total is a bit over $50, I don't think selling the bits will be an easy or reasonable task.

[mvdheuvel1983]

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

You should make your decisions based on your goals. No one here is going to make it for you. Some persons who are margin holders will support you to hold, while some others will not.
My advice to you if I were in your shoes will be to take profit and invest it in a side hustle that will generate you a passive income or better still, solve your existing needs because if body and soul is not together the mind can function well.

[mirakal]

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.

I guess we're no longer in the bear market but the chance of going and transitioning into bull run is higher.

Well, on this matter, to each their own. If OP or someone out there has made a profit, they can sell anytime they want especially now the price is getting higher.

But for sure that many will feel that there's more to this increase and it won't stop from there.

Yes, of course, it's in our discretion what we do in our coin because in the first place, that is our coin.

Now if the OP chose to sell it then we can't really blame her because she has her own reasons and needs as a young mother who probably got an infant to feed at this point. As she mentioned, she might have already regretted that she's still holding it until now as there are some risks that the price will fall in the next few weeks.

But looking at the market right now, the price has increased 11 percent since last month and this might be an early sign that the bull is coming. Although, there's still no guarantee about it as what we can only do is to speculate to about it.

[Odusko]

It all depends on you and what you want because some of us, that amount of profits can not be considered as a good ground to take off the profits, but then if you need the amount to sort bills and you really on that investment for your bill payment it then means you are left with no choice than to take the profits at this point because, from my understanding of your condition, your sole aim is to make bitcoin an alternative source of income to support your family.
So that amount of profits may be ok for for a short term speculator like you ops.

[bayu7adi]

Madam, 33k NGN is approximately $70-$75, correct? Your decision to invest it in Bitcoin is deserving of appreciation. However, if your goal is to use Bitcoin as a daily source of income to meet your needs, it's challenging but achievable by becoming a daily trader. You must study market trends and possess strong analysis skills to determine the appropriate timing for entering the market each day. Set your daily targets without being influenced by greed, to maintain discipline while trading.

If you decide to become a daily trader, you can use the profits you have just earned to purchase food. But if you want to enjoy life as a long-term investor, then hold onto your investment and withdraw the money only in times of emergency.

Hopefully, your husband will soon find a good job that can provide more financial support for your family.

[serjent05]

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?

If you plan to get more profit out of your investment then all I can say is hodl.  Bitcoin will possibly surge higher after the Bitcoin halving event, the price history of Bitcoin can attest to that.

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.

First, it is the responsibility of your husband to give you money for the family budget.  But if you don't want to bother your husband then it is reasonable to sell your BTC if you need more fund.  Or you can look for a side job that can be an alternative additional source of fund to keep you from selling your BTC.

[SmartGold01]

First, it is the responsibility of your husband to give you money for the family budget.  But if you don't want to bother your husband then it is reasonable to sell your BTC if you need more fund.  Or you can look for a side job that can be an alternative additional source of fund to keep you from selling your BTC.

Okay, I understand sir but I don't really say he doesn't give me(us) money. We do have our monthly allocation for food and expenses as you must know there are lots of loads and lots of things man being the father of the house do think and whenever you tried calling back on them after the monthly allocation is like extra billing to them and i don't want to be dependent rather an independent wife putting my little money over here (bitcoin) to see what i could be able to generates from bitcoin. I know how I felt for him couple with the kind of country we are from it's very hard to cope, if you are married and have kids you should have understand what I meant by that mate!

[Myleschetty]

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?

I can see you bought Bitcoin through Binance P2P trading. My advice is
Don't sell not because of the coming rally market another piece of advice is that could find an alternative to buy BTC rather than using your local currency whose black market price is always higher and won't provide you the best profit chance.

[SatoPrincess]

It’s not easy to raise a family in a third world country where the minimum wage cannot afford you the basic things you need to survive. I understand your predicament, it’s commendable that you have been to accumulate some bitcoins to your portfolio but do not expect huge profits in such a short time. The bitcoin market is unpredictable and is volatile, we can speculate the price we expect bitcoin to reach but we can’t know for sure when that’s going to happen, you will have to hodl for at least six months to a year to see green results.