Little Bitcoin investment becoming something else

[Yatsan]

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 your satisfactory. If you are already okay with your profit then it would be fine selling at this point but if you want more, then learn how to endure market price downfalls. There are even speculations that the market price would fall down til $24k and even $12k. Although those are just assumptions but just what if the market price actually fall that low? Would you be able to endure and be positive about it? 'coz if not that's the answer already. On the other hand, you may take profit for now and wait for a lower market price to enter again but eitherway would require patience as an investor. At the end of the day, our decisions with our investments are in our hands; we have full control of it.

[FahriZah]

I Have Seen My Friends Who Involved With Crypto Currency Bitcoin Before Me And I Have Seen He Many Times Little Loss And He Have Enough Patience Because He Know As Well Bitcoin Can Change My Life And Tightly Holding My Friends All Crypto Finds And Finally 2021 My FRIENDS Achieved Her Dreams From Little Investment Bitcoin Becoming Something Big.

[JoyMarsha]

If you don't sell at $31,000, it doesn't necessarily follow that bitcoin won't ever reach that level or higher. With a little patience, you can watch the price of bitcoin rise once more. At this time, the price of one bitcoin is $29k.

You made a small profit after investing the smallest amount you could afford to lose. Imagine the additional gains you would have received if you had invested more money and steadily accumulated bitcoin fractions as their price fell.

Having said that, do your best to focus on the upcoming bull run rather than the future bitcoin price, which worries you.

[HONDACD125]

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.

I think you should not withdraw your profits from Bitcoin right now.And you should wait a bit to go between $35k and $40k .Because it is more likely that Bitcoin can touch the figure of $40k soon.And maybe from there Bitcoin will come back below $30k.And the more likely experts are estimating it could be between $20k and $25k again.Selling bitcoins at this point may deprive you of further profits.Because Bitcoin is such a cryptocurrency that you shouldn't have any problems if you hold it with you.Bitcoin is the only cryptocurrency with the lowest risk of capital loss.In the rest of the crypto currency market if you get profit  you should exit the market immediately.Because other cryptocurrencies are not sure what will happen to them tomorrow.But Bitcoin should never be sold at a small profit because it is a cryptocurrency that can be fully trusted to give you a good profit in the future.In the past, those who held Bitcoin enjoyed a handsome return.I am currently in profit in Bitcoin myself but will take profit when Bitcoin crosses $35k.Because I'm thinking, if I sell bitcoin now and it goes up, I'm going to lose a nice profit, but if it goes down from here,So I'll put it on hold and it'll come back up soon.

[Ayers]

...

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.

Thank you
I understand how its, that was why I just decided to readjust my mindset toward this little fraction of bitcoin I hold. Meaning I am willing to wait till next year to also witness the halving I have been hearing all this while .

It's good to see you've made a final decision on your investment. I hope you hold on to it until the halving happens, or maybe more for more better returns. Since bitcoin won't hit a new ATH immediately after the halving, the bulls will only come in 1 year, which means you'll have to wait longer than a year if you want to sell bitcoin at the new ATH.

Another thing about raising children is the responsibility and obligation of both. I think you should talk to your husband about child support, it's the responsibility of both of you, not just you.

[justdimin]

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.

I agree, I had the same thing with my family as well, I held as long as I could and when there was a hospital bill to be paid, I sold all my coins without thinking twice about it because that's how you do it. I personally agree that it is not going to be easy to find a solution to it considering all the trouble we had, but that doesn't mean that we should be avoiding it anyway neither.

I hope that it gets to a point where it will be much better for all of us and we won't need to cash it out. But, if we ever need to cash it out for our family then there is no discussion for me, I will just sell all of it. There are priorities in life and family is much more important than getting rich, sure they would benefit if you get rich, but no reason to put them in poverty until you do.

[Myleschetty]

snip

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.

Currently I have changed my narratives of selling out my little bitcoin I hold, I think will have to manage the situation at hand lemme see the end of the investment.

Glad you changed the idea of selling your holding now and I will advise you to sell some months after the Bitcoin block halving is executed that's during the new ATH price and that's if you're not planning to hold for the long term.
Meanwhile, never forget that it's not advisable to keep your crypto on an exchange for the long term.

[Smack That Ace]

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.

I agree, I had the same thing with my family as well, I held as long as I could and when there was a hospital bill to be paid, I sold all my coins without thinking twice about it because that's how you do it. I personally agree that it is not going to be easy to find a solution to it considering all the trouble we had, but that doesn't mean that we should be avoiding it anyway neither.

I hope that it gets to a point where it will be much better for all of us and we won't need to cash it out. But, if we ever need to cash it out for our family then there is no discussion for me, I will just sell all of it. There are priorities in life and family is much more important than getting rich, sure they would benefit if you get rich, but no reason to put them in poverty until you do.

Another thing is the opportunity to invest in bitcoin is always there, if you can't invest now, when you have money you can invest later, it's never too late to invest. Getting rich is a long road, it's a process, and we can't build it in a few days, so we have plenty of opportunities to do it. I also think like you, children and family should always come first, children should not go hungry just because we are saving trying to build a portfolio.

[DevilSlayer]

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.

I agree, I had the same thing with my family as well, I held as long as I could and when there was a hospital bill to be paid, I sold all my coins without thinking twice about it because that's how you do it. I personally agree that it is not going to be easy to find a solution to it considering all the trouble we had, but that doesn't mean that we should be avoiding it anyway neither.

I hope that it gets to a point where it will be much better for all of us and we won't need to cash it out. But, if we ever need to cash it out for our family then there is no discussion for me, I will just sell all of it. There are priorities in life and family is much more important than getting rich, sure they would benefit if you get rich, but no reason to put them in poverty until you do.

Another thing is the opportunity to invest in bitcoin is always there, if you can't invest now, when you have money you can invest later, it's never too late to invest. Getting rich is a long road, it's a process, and we can't build it in a few days, so we have plenty of opportunities to do it. I also think like you, children and family should always come first, children should not go hungry just because we are saving trying to build a portfolio.

The idea of "too late to make an investment" is a myth because there is always a perfect opportunity to make an investment in this type of market, all you need to do is to have courage, confidence, patience, discpline and also capital to start making investment. Even though there are now a lot of coins that became expensive, for me there is still plenty of opportunities that you can ride and make huge amount of gains if you will just train your mind to see those opportunities.

People who says that it is already too late to make an investment, is the people who do not know how to see opportunities. They didn't train their mind to see those perfect time to purchase bitcoin and other asset. In order to train our mind, you should take note that it requires hard work and consistency. You cannot become great investor if you just study 1-3 days, you need a lot of time and for me it requires months of even years just to have the knowledge you must have in order to make gains consistently.

[Smack That Ace]

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.

I agree, I had the same thing with my family as well, I held as long as I could and when there was a hospital bill to be paid, I sold all my coins without thinking twice about it because that's how you do it. I personally agree that it is not going to be easy to find a solution to it considering all the trouble we had, but that doesn't mean that we should be avoiding it anyway neither.

I hope that it gets to a point where it will be much better for all of us and we won't need to cash it out. But, if we ever need to cash it out for our family then there is no discussion for me, I will just sell all of it. There are priorities in life and family is much more important than getting rich, sure they would benefit if you get rich, but no reason to put them in poverty until you do.

Another thing is the opportunity to invest in bitcoin is always there, if you can't invest now, when you have money you can invest later, it's never too late to invest. Getting rich is a long road, it's a process, and we can't build it in a few days, so we have plenty of opportunities to do it. I also think like you, children and family should always come first, children should not go hungry just because we are saving trying to build a portfolio.

The idea of "too late to make an investment" is a myth because there is always a perfect opportunity to make an investment in this type of market, all you need to do is to have courage, confidence, patience, discpline and also capital to start making investment. Even though there are now a lot of coins that became expensive, for me there is still plenty of opportunities that you can ride and make huge amount of gains if you will just train your mind to see those opportunities.

People who says that it is already too late to make an investment, is the people who do not know how to see opportunities. They didn't train their mind to see those perfect time to purchase bitcoin and other asset. In order to train our mind, you should take note that it requires hard work and consistency. You cannot become great investor if you just study 1-3 days, you need a lot of time and for me it requires months of even years just to have the knowledge you must have in order to make gains consistently.

We also have to admit that the earlier an investment is made, the higher the chance of a return, but that does not mean that the later investment will not receive a good return. There were many people who entered the market much earlier than us, but they left the market when the bear season arrived. But if we entered after them and have confidence in the market, we keep holding despite the market crash, then I believe our profits are second to none.
My investment motto is: It doesn't matter whether you enter the market sooner or later, what matters is how long you will stick with it.

[FUCKBSVFUCK]

You are right, I think it is impossible to make profits as it is extremely difficult to know how much or what will you earn, to think this is an opportunity to increase your chances at making a profit and gain profits, while at the same time you are asking the question whether you should hold or take money, the answer would be, it's possible you can win when you have bought, but you aren't sure at all how much your chances will be in the next month or two, if this happens it is impossible. 
 
You need to have a lot of knowledge in the first place to start making decisions that can help you, because the more you learn, the more you need for the market.

[Forever101]

From your explanation on the bitcoins you bought and the profit it has gained, I can see that you invested the money you can not afford to loose though the market is currently in your favour. Since the market is unpredictable, let me give likely occurrence in respect to what you should expect base on whatever desicion you take.
Your emotions is still very much in place as touching this matter, so listen to what could happen and what your emotion could also lead to.

If you sell now , it a good idea since you have somethings to care for however, you may regret it if there is a bull run thereafter

If you hold for sometimes, it's also good decision , however there maybe a bear market, which may lead to another regret of holding , you will have a regret of loosing profit and amount invested and that of not taking care of your needs.

Base on this analysis here, think about your next line of action considering what is most important to you and the risk you can bear.


After your desicion on this investment, I will advice you to invest with money that is not your last resort and the one you can afford to loose then set your targets.

[nimogsm]

Best advice to you: make your own decision. The amount that you invested is not so big, I think that it makes sense to continue to increase it, and when you realize that you have received the profit you wanted, in this case, you can withdraw funds. For now, it's more like a lottery for you than an investment.

[Dailyscript]

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

You can listen to opinions from people or suggestions but only the conviction you have in mind that is what you will execute. The decisions we make in out investment is what will yield fruit if it did not go out properly then we are likely to take responsibility of the choice we have made. In times like this when you have doubt, listen to your inners self. There will be a conclusion within you and you will take the right action that you feel is the right thing to do. Dont draw conclusion from other persons advice or opinions its only but a guide or make you se things at a wider view. The truth is always be clear and have a thoughtful process before implementing.

[Assface16678]

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

You can listen to opinions from people or suggestions but only the conviction you have in mind that is what you will execute. The decisions we make in out investment is what will yield fruit if it did not go out properly then we are likely to take responsibility of the choice we have made. In times like this when you have doubt, listen to your inners self. There will be a conclusion within you and you will take the right action that you feel is the right thing to do. Dont draw conclusion from other persons advice or opinions its only but a guide or make you se things at a wider view. The truth is always be clear and have a thoughtful process before implementing.

Well, this topic is a little bit old, and our advice may be too late, but to sum up, for me, if you are not sure what you will do next in the bitcoin market, then develop your skills and upgrade your knowledge so that you can handle different situations in bitcoin. Remember that bitcoin is too complex and can be unpredictable, but if you build up your experience, hone your skills, and grow your knowledge, then you can know how to handle different scenarios and situations in bitcoin. I also get to this point where I don't know what I will do next with my bitcoin holdings. Will I keep on holding or should I sell some of my holdings because I saw a profit? But because I develop my critical thinking, I know I have my own system of how I can handle such thinning and scenarios, whether I will continue to hold or sell some.

[Iranus]

Best advice to you: make your own decision. The amount that you invested is not so big, I think that it makes sense to continue to increase it, and when you realize that you have received the profit you wanted, in this case, you can withdraw funds. For now, it's more like a lottery for you than an investment.

On what basis do you say that he only plays the lottery when investing in bitcoin? Just because someone invests an insignificant amount of money doesn't mean they're playing the lottery or gambling and aren't serious about their investment. Each person has a different economic situation and they are investing with what they have. It may be an insignificant amount of money to you but it could be a large amount of money to them, you should not underestimate others just because they don't have as much money as you.

More than a year has passed since this topic, I think the OP is mature enough and experienced enough to make his own decisions instead of needing more of our advice with his investments.

[Litzki1990]

First of all I will tell you that you should not minimize any amount of investment because you have invested with maximum from your place. You have invested and want to know how long you will hold that investment. Basically investment should always be done in long term plan as investing in short term plan will not show much profit or loss here. 

The market value of a bitcoin is very high so when we buy bitcoins with relatively small amount of money and the market changes a little, the profit or loss of that change is not understood in a short period of time. You can gradually maintain the consistency of your investment as well as you can hold this investment for a long time. If you are successful in holding the investment for a long period of time then I will tell you that you will have a good chance of making a profit there.

[Gaza13]

If you don't sell at $31,000, it doesn't necessarily follow that bitcoin won't ever reach that level or higher. With a little patience, you can watch the price of bitcoin rise once more. At this time, the price of one bitcoin is $29k.

You made a small profit after investing the smallest amount you could afford to lose. Imagine the additional gains you would have received if you had invested more money and steadily accumulated bitcoin fractions as their price fell.

Having said that, do your best to focus on the upcoming bull run rather than the future bitcoin price, which worries you.

Yes, worrying will cause you to suffer losses. When investing, it is best to use money that is not actually used for daily needs. If you use it, it will certainly be a hassle for you because prices on the market fluctuate. Yes, this is the mistake of a young mother who needs money for her living. If I look at op's profile, with a fairly high rank, in my personal opinion op seems to be quite experienced in this matter, it's best not to ask again, this thread was created more than a year ago, it's different if a beginner asks, maybe he needs guidance from members others for their knowledge in investing.

[JoyMarsha]

If you don't sell at $31,000, it doesn't necessarily follow that bitcoin won't ever reach that level or higher. With a little patience, you can watch the price of bitcoin rise once more. At this time, the price of one bitcoin is $29k.

You made a small profit after investing the smallest amount you could afford to lose. Imagine the additional gains you would have received if you had invested more money and steadily accumulated bitcoin fractions as their price fell.

Having said that, do your best to focus on the upcoming bull run rather than the future bitcoin price, which worries you.

Yes, worrying will cause you to suffer losses. When investing, it is best to use money that is not actually used for daily needs. If you use it, it will certainly be a hassle for you because prices on the market fluctuate. Yes, this is the mistake of a young mother who needs money for her living. If I look at op's profile, with a fairly high rank, in my personal opinion op seems to be quite experienced in this matter, it's best not to ask again, this thread was created more than a year ago, it's different if a beginner asks, maybe he needs guidance from members others for their knowledge in investing.

The thread was a year ago, I believe the amount of bitcoin the OP held in her portfolio as of then has increased in price currently to about amount $118 if you calculate with today's price of bitcoin "$64k".

In February last year, OP, have some fractions of bitcoin, which was 0.001848. times the fractions of bitcoin with $64k, it will amount to $118(The OP, didn't buy bitcoin of such amount last year).

That's the power of hodling bitcoin for long. Like buying it in the bearish market, anticipate seeing many profits during the bull run.

[Bobrox]

That's the power of hodling bitcoin for long. Like buying it in the bearish market, anticipate seeing many profits during the bull run.

The power of holding will earn much profitable in the future, I remember well what said by CZ ''"If you can't hold, you won't be rich" and its true for bitcoin holder.
Considering OP decision for holding bitcoin one year ago he got much profitable because bitcoin success reach new ATH price and right now earn much profitable depend how long keep hold it or OP sold out his bitcoin assets.

Its the power of holding just taking one year only bitcoin increasing more than 100% above depend with your mentality strong or not for holding or become bitcoin investor. Actually for bitcoin holding its not take scare with potential recovery faster and raise more higher price easily than keeping altcoin for long term investment.