How to manage bitcoin correctly?

[YUriy1991]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

At that moment, many hesitated to sell in the hope that it would go up again and choose what you did, this is the market. we can't fight the mainstream. But, as much as possible at that moment you can read the situation.

What you have to do now is hold, if you plan to exit and diversify into other assets I think it's your responsibility to do it especially when you buy not at the current price above it. However, if there is a price difference when you sell (profit) that is your right.

[Onyeeze]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

When Bitcoin was high you did not sell and now the price is up and you want to sell, so what i want you to understand is that the price of Bitcoin always go up and down and when the price rise what you buy, you can sell to make profit, nobody will advice you know or tomorrow to sell now that the price is at 30,000 why you have kept your coin when the price was at 60,000. If you have a problem that you know that needed money I will tell you to sell and sort off your problem

[KingsDen]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

If you are very sincere to yourself, you will understand that you did not just hold bitcoin today and the price skyrocketed to $69000. You have held it for a long time and it gradually grew to $69000.
Again, if you are also very understandable and can remember you will understand that the Bitcoin price did not just drop from $69000 to $30000. It gradually reduced to the stage of 50,000 dollars later to 40000 dollars and it even went to the stage of 15,000 dollars. During all these phases, you did not sell. Now bitcoin returned from 15000 dollars to the stage of 30,000 dollars which shows that there is increase and we are gradually going to the next bull run, why the idea of selling now?

Selling just to switch investments? My opinion tends to say no when you say you have poor management skills. Even if someone suggests you a better investment instrument, I think you find another hesitation to take profit.

I would have advised Op to sell if it was for emergency purpose or they lack money to do something important. Since it is selling for another investment, it is not a good idea. The joy is no longer far and it worth the wait.

[KalOlak]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

Hold 2.625 Bitcoin and never sell. If you manage to acquire more than 2.625 Bitcoin in the market, you can use this amount as follows: Buy low, sell high. Not the vice versa.

[Antonas1]

Do you need that money right now? is all you need to know to make a decision.
Why should you switch your Bitcoin to another investment if you've seen BTC hit ATH? I'm assuming you're not in a crisis. Just use some other funds if you want them.

[inthelongrun]

If you are not good at investment management then just hold bitcoin long term. The best strategy so far in making it easy to buy bitcoin is to do a regular DCA like weekly or monthly whichever feels you comfortable. Only invest money you can afford to lose of course.

Another thing to point out is you take note of the 4-year cycle of bitcoin especially if it continues to move the same way. So plan long term and try to withdraw only after the year of the halving period as it is always the year where bitcoin is at its highest price.

[Lorence.xD]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

And why do you think you're still holding BTC for years if you think there's much better investment than Bitcoin? I mean it's normal for Bitcoin to drop it's value since it's volatile, no need to panic selling or buying as long as you know what are you trying to achieve. For example your planning to reach thousands of dollars so when that time comes you could sell, there's no bad thing as long as you are contented with your profits. Because I think the thought of BTC will increase again despite reaching your target value, I would consider it as greediness.

[Adams0001]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

If you want to enjoy investing in Bitcoin, you must be patient and understand that you can lose or earn money at any time because it is volatile. I don't believe there is a better secure or beneficial investment than Bitcoin. It's just that it's a long-term investment; you won't get rich overnight. It's only that you need to learn more about investing in cryptocurrency so that you can manage your investment. Don't sell your BTC, just leave it for a while and you'll enjoy it in the feature. When you sell your Bitcoin and invest it in another investment or platform, and you subsequently regret doing so, you will remark that it is preferable to leave it.

[Raflesia]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

Firstly. So do you think it's worth it to sell at $30k now when you've waited and let go of ATH before?
I think in this case only naive people hold back when the price has been ATH by not selling bitcoin but after so many things happened with the crash and some negative news and now back on track quite well at $30k after previously $15k and trying to sell now.
That is not justified even though we are free to do that.
Secondly. I don't think there is a better investment than bitcoin for cryptocurrencies so in that case why would you move your assets when they are already on a good track but choose something more risky.
Indeed in this case we also cannot force the will and if it is not strong in bitcoin the possibility of leaving is the right thing if you do not feel disadvantaged. but in other conditions than being in altcoins then clearly bitcoin is the best place and that is a certainty.

[Dr.Bitcoin_Strange]

OP, do you remember the parable about people giving up when they were almost close to their winning point? Of course you know that every Investment has its own risk attached, and the truth is that you have held your Bitcoin and did not sell it even at $69k, so do you believe that if you sell now and invest in another thing, you can make about $69k in a shorter period of time than if you still hold your Bitcoin and wait for the next bull market? One principle of Bitcoin is, "Keep holding until you make a profit; don't sell cheap." It's your decision to make, but one thing I know for sure is that if you obey the rule of holding, you might even see Bitcoin trading above $70k.

[Poker Player]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

The answer depends on many factors, such as do you have an overall wealth building plan? It gives me the answer is that it does not.

It's not the same if you have bought a lump sum and you are doing DCA, it's not the same if you have an emergency fund, or wealth in other assets or if you don't have it, etc.

If you specify more points we can help you better.

In terms of profitability with a certain level of security nothing is going to beat bitcoin, so if you have your finances under control, I would keep the investment only partially selling if at all during the bull market peaks.

[WillyAp]

Yeap too many factors which differ in each person.
You need money you sell earlier. On periods of long stagnation investing promisses a better return. i.e. Stock exchanges.
Money needs to work to win inflation.

[isaac_clarke22]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

Let me correct ya there, OP.
It is reasonable choice to forget about BTC for now and somehow try to invest somewhere else. Don't sell just forget about Bitcoin even existed in your life so that you wouldn't think about the returns so much. I am pretty sure that others told you that in this previously.

You mentioned that you already held BTC for many years. Unless you're day trading, your management wouldn't matter so much since you're not actively looking at your investment. You got the balls to not sell at 69k and I give you that.

My question though would be, if the money you invested was not the money that you'll need within couple of years or so? Problem is people think that they can just go and risk the money they needed to BTC in hopes of "better life" and that's the least possible thing you would think of when investing even outside crypto.

[posi]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

It is difficult to give exact advice because we are not in your situation. At what price did you buy bitcoin and are you making a profit or loss if you sell now? You redirect your investments to other assets, which ones? Is it as profitable as bitcoin and as secure as bitcoin? There's so much that you haven't given us, it's hard to give precise advice. But I just want to tell you, bitcoin will soon rise again and surpass the old ATH and will create a new ATH in the future. I believe it will happen so I am still working hard to buy bitcoin every time I have money instead of selling it now.

[Ale88]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

So you're saying you chose not to sell at $69k but you're seriously considering selling now at $29k, when there are several spot ETFs that could be approved and in a few months there is going to be the halving? I mean, everybody can do whatever they want but it doesn't look like the best move to me... If you didn't sell until now just wait a little longer, for sure buying stock you won't make 5x in one year.

[salad daging]

Why sell now while others continue to buy bitcoin at $30K to wait for the next bullish, are you not strong enough to survive at least 1 more year of bitcoin halving? Try to be a little patient and must be practiced.

Actually selling or not is your decision, but I just keep your bitcoin don't switch to other investments because bitcoin also has the potential to return to the original ATH especially the new ATH that has clearly been widely predicted.

If you have been holding Bitcoin for years, it means that it has been overlooked, just waiting for the right moment to sell your BTC.

[ImThour]

> Although I have held BTC for many years. I am not good at management.

Mate, you are doing good. Just do not look at the Bitcoin price every day and instead focus on collecting and HODLing more bits. That's how this should be done.
I know you might find that selling now and buying lower will be a good option, that will simply make you a nocoiner like many who sold at $18k and were never able to buy it back at that price.

Just keep doing what you are already doing, good luck.

[ScamViruS]

You had faith in Bitcoin so you didn't sell even after going to the $69k range, but suddenly this question arose in you and why do you want to sell Bitcoin and move to another business. Bitcoin is not yet in the worst situation that could cause you to ask this question. At the end of last year, Bitcoin was in a very bad situation, falling to around $15k due to the Luna, FTX incident. At that time, this question could have arisen in your mind after seeing the very uncertain and bad situation of the market, but you have faced that situation as well. And you are still holding your bitcoins, since you haven't sold the bitcoins, don't think about selling them now.

So I think there is no need to manage bitcoins, just look at the bitcoin chart in the big picture and hold bitcoins for a long time, hopefully after two or three years you can start a new business with the profits you can make from bitcoins. So think positive and keep your position strong.

[mvdheuvel1983]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

I do not mean to sound like a motivational speaker but there is one of them that said, you are already in pain why not get a reward from it. Bitcoin halving is next year. What happens is that historically the price of Bitcoin increases. This is the expectations for the next halving. Whatever your Bitcoin you have in your wallet is worth now, it would increase in value after the halving. The summary of the message I am trying to pass across to you is that you should have some patience. If after the halving you still feel like selling it off, godspeed.

[TheUltraElite]

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

I doubt you have held for "many" years. Reaching the all-time-high of 69k as your first means you have been doing bitcoin for only a couple of years. Still, when the price of an asset drops is the time to hold that coin and not sell if you are looking to profit from it - thats simple math. If you have lost faith in bitcoin then of course you should do what you feel is correct, because even in profit your mind will say different.

But if you are unable to cycle the money through the bear/bull cycles then refrain from any speculative trading.

If you want to reconsider your decision and want to strengthen your faith in crypto, learn more about how it works, how the blockchain works and how secure it is. Dont listen to what the local government is doing, you can clandestinely accumulate as much as you want and then when your government allows bitcoin you will have a big stack to sell on your market.