How to manage bitcoin correctly?

[tjtonmoy]

You have already waited this long, why not wait a bit more? Are you influenced by any FUDs? If so, then don't be nervous. This happens from time to time. If you need motivation to HODL, then look at the Bitcoin chart. Zoom out a bit, and you will see from where Bitcoin has come to this position. If you see dump and then rise, do some research on events that happened at that time. You will get a better understanding. When the bear market is over, the bulls will be back. And every time this has happed, Bitcoin had always pushed past the previous All Time High price. So $69k and then the dump. Do the math and where that leads to? A potential new ATH.
But it is your investment. You have every right to move on to something new. But the best action to take right now is to do nothing and HODL. Or you can DCA with new investment assets. It's all up to you.

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[KiaKia]

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.

You've gone through the hardest part already, if you don't know about Bitcoin halving I think you should, it's almost here and after the halving which will take place in 2024 around April to June the price of Bitcoin will start getting better.

If I am in your shoe I will keep holding my Bitcoin, another question for you, do you use money you are ready to lose? If the answer is yes then it's even better, buying Bitcoin now is the best so I will find more money to buy more Bitcoin instead of holding Bitcoin that I bought at the top through the years, you deserve more than this.

It's only a thought, if you don't have extra money for Bitcoin investment just keep holding, Bitcoin will make a new all time high somewhere in 2024-2025, find other things to do with your time, 2025 isn't that far away.

[Ariaryanto]

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.

You've gone through the hardest part already, if you don't know about Bitcoin halving I think you should, it's almost here and after the halving which will take place in 2024 around April to June the price of Bitcoin will start getting better.

If I am in your shoe I will keep holding my Bitcoin, another question for you, do you use money you are ready to lose? If the answer is yes then it's even better, buying Bitcoin now is the best so I will find more money to buy more Bitcoin instead of holding Bitcoin that I bought at the top through the years, you deserve more than this.

It's only a thought, if you don't have extra money for Bitcoin investment just keep holding, Bitcoin will make a new all time high somewhere in 2024-2025, find other things to do with your time, 2025 isn't that far away.

in my opinion bitcoin is still stable now and there is no sign of going down again. that's right, in the future bitcoin will become a global digital currency, slowly in the future technology will be more advanced and transactions will be more advanced too... don't worry and doubt while normal marketing we can take a little profit.

[so98nn]

How can you say that it is good choice to sell the Bitcoin at 30K when you saw that same bitcoin reached around 69K in the past? Isn’t that is worst decision you can make even after getting an experience by all yourself. That’s not the best way to go with it bruh. It is not just you but all of us who went through the same scenario but we have already learnt our lesson and still holding on Bitcoin rather than selling it. I don’t think a true holder would just sell it off even after knowing the highest potential that their investment could achieve. I think you really missed to understand that and took the decision in hurry.

[flyingcarpet]

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.

Everyone knows their budget and what they want to do with it. So I can tell you this. If you can meet your expectations from an investment, you should sell it at that price. If you can get what you want when you sell it, you have reached your goal. In this way, it may be easier to understand when to exit the market.

Remember, our purpose in investing is to achieve our goals. If we have achieved our goal, we can terminate our investments. And one more reminder, we can always invest at any price. There is no such thing as too late for anything. Don't listen to the rumors like you're late.

[Agbe]

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.

Okay. And that means you have tried, and I will still advise you to keep holding, and let see how much the price of bitcoin will be in the next bull market. If the price is good for you then you can sell and if the price is not good then you can still hodle it and that the investment of bitcoin. Using the bitcoin in your wallet to invest in another thing is not advisable. Unless the investment you want to engage in can give your $30-$50 every day as interest then you can go for it but if not stay in bitcoin. Your time and investment will not be in vain.

[serjent05]

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.

Everyone knows their budget and what they want to do with it. So I can tell you this. If you can meet your expectations from an investment, you should sell it at that price. If you can get what you want when you sell it, you have reached your goal. In this way, it may be easier to understand when to exit the market.

The thing is @OP is surely hesitant to sell his BTC holdings reason why he is asking for some suggestions in his created thread.  One thing I would say always say, if you don't have the urgent need for money and you aim to get huge amount of profit from BTC then better keep holding until there is no hesitation to sell @OP.

Remember, our purpose in investing is to achieve our goals. If we have achieved our goal, we can terminate our investments. And one more reminder, we can always invest at any price. There is no such thing as too late for anything. Don't listen to the rumors like you're late.

I agree, as long as @OP thinks that he hit his target price then he can sell his BTC holdings after all it is really a great feeling hitting the target price sell and take profit from the investment.

[Wakate]

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 wouldn't mind, I will advise you to at least learn a few things about the market so that you can understand what the market is doing so you can make your choice on when to sell or buy more. This is one of the mistakes many people are making in the crypto market. Because they have decided not to learn about the market, they are unable to know the right time to sell or hold.

 During the time when Bitcoin was $60k, it was a good chance for those that are not too greedy to sell part of there holdings especially those that had been holding for a longer time but you know when we don't know when the market is overbought, we are always tempted to hold for more time before taking some few profits. When you understand the market, you will know when the market is going to be bullish or bearish.

[taufik123]

-snip-
I agree, as long as @OP thinks that he hit his target price then he can sell his BTC holdings after all it is really a great feeling hitting the target price sell and take profit from the investment.

It is the best when it has reached the main target of the strategy carried out.
Take some profits or take the main capital and let the rest work in order to get more profit.

We are also not required to hold for life, there will be a predetermined timeframe or price target according to the strategy made at the beginning.

Just need to create a new strategy with a higher target price.
The 2024 ATH target will certainly be higher than it is currently.

[Wend]

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.

Do you have a specific plan or goal when investing in bitcoin? I mean, at what price did you buy it, and at what price do you plan to sell it? You need to have a specific target instead of expecting to sell at an all-time high. Many say you missed out by not selling bitcoin when it was $69k, but I bet no one here sells for that price. Because everyone wanted to sell at a higher price but in the end it didn't happen. As long as you sell to your goals and are happy with the profits you have, there's nothing wrong with selling now.

[sheenshane]

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.

As we know that Bitcoin was known for its price volatility, but it's also shown substantial growth over the years.
If you believe in the long-term potential of Bitcoin, holding onto it might be a reasonable option but this depends on how you'll trust or have faith in Bitcoin, and usually, that's what most Bitcoin enthusiasts do.

If you decide to continue holding your Bitcoin, consider setting up stop-loss orders or other risk management strategies, these can protect your investment from severe losses in case the price continues to drop.  Much better never to sell under the price where you purchase.

[Peanutswar]

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.

Bitcoin already proves what are the possible things it can do ideal to learn with the trading analysis this could help you a lot what decision is ideal to do with your bitcoin. This could be an heads up about the market price movement so you can sell or buy opportunity and not betting late again base on your statement. Also there's a lot of use of the bitcoin right now beside on investment and payment method, if you want to increase your asset explore more coins pairs with bitcoin.

[wxa7115]

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 have recognized that there is an area of opportunity when it comes to your money management skills then act upon it, read books about it and learn the necessary tactics which you can employ to make better use of the money and the assets you have available to you right now.

Now this could take some time, however according to your post you have held bitcoin for years, so you could keep holding bitcoin for a few months until you learn the necessary skills, and then you can take an informed decision about whether to keep holding your bitcoin is a good decision for you or not.

[FinneysTrueVision]

Bitcoin is not meant to be a get rich quick scheme. If you were looking to make a profit from trading it then buying it at $69,000 was a very bad idea. A correction from that level was entirely expected at that point. You should think thoroughly the decision of selling BTC at such a huge loss. If you're just chasing after the next big thing that is trendy then it would be best to stay with Bitcoin because it is fundamentally solid as a long term investment.

[Blitzboy]

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 have recognized that there is an area of opportunity when it comes to your money management skills then act upon it, read books about it and learn the necessary tactics which you can employ to make better use of the money and the assets you have available to you right now.

Now this could take some time, however according to your post you have held bitcoin for years, so you could keep holding bitcoin for a few months until you learn the necessary skills, and then you can take an informed decision about whether to keep holding your bitcoin is a good decision for you or not.

Aren't you refreshing with your approach of "read, learn, apply?" Yes, it is a worthy goal to try to multiply one's money many times over. However, let us not overlook Bitcoin's greatest asset: its volatility. Many Bitcoin enthusiasts would say that even if you don't understand all the ins and outs of the financial world, it's usually a good idea to hold on to your Bitcoins. It's possible that your Bitcoin will be performing its magic while you're studying to become the next financial mastermind

[Litzki1990]

When Bitcoin reached $69,000, Bitcoin had reached its all-time high, meaning that Bitcoin had never reached $69,000 before. If you had a lot of investment in Bitcoin then you should have sold a part of your total investment because Bitcoin had already touched its peak value when you bought Bitcoin and you might have had a nice profit since the peak price of Bitcoin at the time of purchase. So if you had sold the bitcoins at that time, maybe you could have come back and reinvested at this time. Since you did not understand about the market, do not lose patience yet because the time is not over yet, better time will come back when you sell your investments.

[michellee]

When Bitcoin reached $69,000, Bitcoin had reached its all-time high, meaning that Bitcoin had never reached $69,000 before. If you had a lot of investment in Bitcoin then you should have sold a part of your total investment because Bitcoin had already touched its peak value when you bought Bitcoin and you might have had a nice profit since the peak price of Bitcoin at the time of purchase. So if you had sold the bitcoins at that time, maybe you could have come back and reinvested at this time. Since you did not understand about the market, do not lose patience yet because the time is not over yet, better time will come back when you sell your investments.

It should have but it looks like people at the time still wanted the price of Bitcoin to go higher. But in reality, this is not the case because, after that, the price of Bitcoin slowly decreased again until the price decreased very quickly. We have seen Bitcoin price below $17k, which seems to be the lowest price to date and hopefully no further drop.

If they could sell their Bitcoins at that high price, they would now have more Bitcoins than before, especially if they could buy at $17k. But if someone late sells Bitcoin at yesterday's high and they're still holding onto their Bitcoin today, that's also okay because he can keep holding on to it until the price increases to another high.

And keep holding the Bitcoin while waiting for the situation to change. And if you can and still have money, you better use it now to buy Bitcoin again because the price is still below. Do not think too much about the news that is not clear because it just wants to make people panic.

[tw0.625]

It should have but it looks like people at the time still wanted the price of Bitcoin to go higher. But in reality, this is not the case because, after that, the price of Bitcoin slowly decreased again until the price decreased very quickly. We have seen Bitcoin price below $17k, which seems to be the lowest price to date and hopefully no further drop.

If they could sell their Bitcoins at that high price, they would now have more Bitcoins than before, especially if they could buy at $17k. But if someone late sells Bitcoin at yesterday's high and they're still holding onto their Bitcoin today, that's also okay because he can keep holding on to it until the price increases to another high.

And keep holding the Bitcoin while waiting for the situation to change. And if you can and still have money, you better use it now to buy Bitcoin again because the price is still below. Do not think too much about the news that is not clear because it just wants to make people panic.

Statistically, the price of Bitcoin tends to rise more often than it falls; otherwise, over the course of 14 years, its price would have already reached zero.

[wiss19]

I can tell that you are not good at managing Bitcoins if you didn't sell them at the peak and are thinking to sell them now when the price is way too high and the halving is just around the corner. Maybe you don't know what halving is, it is the event when mining rewards are cut in half, which means that Bitcoin miners will get half of what they used to get before after the halving event, and as history shows, the market generally enters the bull market around that time.

So if you have been holding your Bitcoins for years and didn't sell at $69k, now is definitely not the time for you to sell them. Just keep them with you and wait for some more time, if we enter the bull run, you might see the price going above $69k this time around and then you can sell if you want.

[suzanne5223]

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?

You selling now will be the worse decision not to talk about switching your attention to altcoin which always rely on Bitcoin market trend to make a new ATH price.
I will advise you to hold tight your BTC and accumulate more BTC using the DCA method which you either split on percentage on BTC and altcoin.

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

If you are not good at management do the long-term investment in BTC and find a way to lock your wallet for some years to prevent selling temptation.