How to manage bitcoin correctly?

[AmoreJaz]

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.

he's already waited for years, so it wouldn't hurt for him to wait a lil bit more. unless, he needs the money urgently. but if he will venture into alts, better think of his decision. because btc is already worthwhile as it is the leading crypto and most alts are just following its lead.
i don't understand about not having good management, does it mean, he can't secure the wallet he is using to store btc?

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[Asuspawer09]

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 surely a good thing if you can sell at the peak price but the reality is there is only a small percentage of people who can sell at that peak, it's really difficult to predict that. I mean the price the best thing to do probably is take profit every time there was a huge pump in the market right, you could do is sell a small percentage every time the price continues to pump with this method you could be sure that could take profit and at the same time you could hold for until the peak I mean its still great to sell it all once if you could sell it at the peak.

If you have no problem holding your Bitocin for years then you just do the right thing because for sure the market price this coming Bullrun is going to be even greater than before and probably you could right the all-time high of 100k$ in the next Bullrun. If you have other sources of income you could just wait for more years until Bitcoin is greatly adapted in a lot of countries.

[Bitcoin_people]

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 the price of Bitcoin reached its peak, it was worth $69,000. But the price of Bitcoin has fallen again and again while turning from a bull market to a bear market. And when the Bitcoin market rose from that high, those who invested expected it to rise further and they expected to make a profit. But since you haven't sold that bitcoin investment over the years, it's definitely a good move for you. At the moment the price of bitcoin is $30000 dollars but we can expect that in the next year the price of bitcoin will definitely go to a better position. And since you're not interested in selling bitcoins, you hold onto them until the bull market hits you.

[lienfaye]

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 didn't sell when the price reached $69k yet you're thinking the price below $30k is reasonable to already let go. What made you think that way? Are you tired of holding?

If you hold your Bitcoin for many years (as you've said) then you're already aware that the price currently is just temporary. So if you're selling at the current price, you became a weak investor despite of being a hodler for years. Anyway, it's up to you though since we have our own way of thinking.

[Silberman]

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 didn't sell when the price reached $69k yet you're thinking the price below $30k is reasonable to already let go. What made you think that way? Are you tired of holding?

If you hold your Bitcoin for many years (as you've said) then you're already aware that the price currently is just temporary. So if you're selling at the current price, you became a weak investor despite of being a hodler for years. Anyway, it's up to you though since we have our own way of thinking.

We must remember that a great deal people that are holding their coins right now never had the intention of becoming holders at all and did so simply because the circumstances forced them to do it, and in that case it is not rare to find people that are already sick and tired of holding their bitcoin and they want out already, a mistake without a doubt as we are getting closer to the bull market each day that passes, but at the end we cannot decide for them and if they want out then they will eventually sell their coins.

[GeorgeJohn]

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 the price of Bitcoin reached its peak, it was worth $69,000. But the price of Bitcoin has fallen again and again while turning from a bull market to a bear market. And when the Bitcoin market rose from that high, those who invested expected it to rise further and they expected to make a profit. But since you haven't sold that bitcoin investment over the years, it's definitely a good move for you. At the moment the price of bitcoin is $30000 dollars but we can expect that in the next year the price of bitcoin will definitely go to a better position. And since you're not interested in selling bitcoins, you hold onto them until the bull market hits you.

The expectation of some investors lured them into loss, some people who purchased bitcoin when the price is low or its on bearish will expected the market to continue flourishing, so I believe that the price that is on bearish investors who happened to invest their money will like to make profit times two higher than the normal price the bought, so the problem of some investors is greediness, like as op narrated, its obvious that makes op did not sell out of it's coin them should be that it was expecting bitcoin to go higher than the figure of bitcoin price op rendered or presented, I believe that op is aware that if it happens to sell out it bitcoin now it may be lost, shall it depends on the value of bitcoin during the time it invested in bitcoin.

[batang_bitcoin]

Is it the most reasonable choice to sell BTC now and turn your attention to other investments?

What actually your goal is? Is choosing now still a profit for you? Because if not, you better wait and let the market do the call on what you must do.

If you hold your Bitcoin for many years (as you've said) then you're already aware that the price currently is just temporary. So if you're selling at the current price, you became a weak investor despite of being a hodler for years. Anyway, it's up to you though since we have our own way of thinking.

Can't blame him for having a weak hand but if he's in need and that's the best and final option that he can do, then there's no other way to discourage him in doing so.

[ChiBitCTy]

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.

My first suggestion is to NOT take any advice from anyone here, or to take all "advice" with a grain of salt.  There's likely not any financial advisors in this thread beside myself.  Now I'm not saying there aren't others in this thread who could help give great financial advice, but how are you going to know it's legitimate advice if they aren't a licensed advisor?

My suggestion is to meet with a financial advisor and have a well mapped out plan for retirement.  Bitcoin is inherently NOT an investment. It's a decentralized money transacting system.  Sure it's become an investment, but that's not it's main use case. Maybe selling doesn't make sense based on your full financial portfolio.  Maybe it does.  You need to meet with a financial professional or do a shit ton of educational research to find out.

[komisariatku]

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 haven't sold bitcoins when the price is $69000, why do you want to sell bitcoins when you have a price of $30000? I think it is not a good decision, the best decision is you sell when the bitcoin price is $69000, but it's too late so why do you want to sell bitcoin when the price is $30000? if you need money, you are free to sell your bitcoins or sell some of them. but if not, maybe it's better to hold your bitcoins.

But all decisions are yours. So, do what you think is good and adapt it to your needs.

[Smartvirus]

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.

What do your good reasonings tell you?

Remember, one principle that guides bitcoin investments or trading at most of that;
You buy when the market is low or rising and sell when it's high.

Considering where the market is now and that be $29.k from an ATH at $69k, if your to go by that principle, you would find the idea of selling now to be out of place. Bitcoin is down now from the current ATH,  yigvemissed the chance to sell and what you supikd be doing now is buying with DCA strategy rather than selling. Selling would mean your losing even though you would be selling to invest in a different commodity.  No investment is promising and as such, you could still get to lose.

The best for you would be to stick with what you know, what's at hand and before come next bullrun, you might get that chnace to sell if that be your plan towards your hodlings.

[carlfebz2]

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.

What do your good reasonings tell you?

Remember, one principle that guides bitcoin investments or trading at most of that;
You buy when the market is low or rising and sell when it's high.

Considering where the market is now and that be $29.k from an ATH at $69k, if your to go by that principle, you would find the idea of selling now to be out of place. Bitcoin is down now from the current ATH,  yigvemissed the chance to sell and what you supikd be doing now is buying with DCA strategy rather than selling. Selling would mean your losing even though you would be selling to invest in a different commodity.  No investment is promising and as such, you could still get to lose.

The best for you would be to stick with what you know, what's at hand and before come next bullrun, you might get that chnace to sell if that be your plan towards your hodlings.

Always stick into that principle then you should really be just fine but if you do the other way around then you would really be finding yourself on doing the wrong move which is to buy high and sell low.

In terms of trading then it would really be just that sensible that you should really be sticking on something that would really be beneficial and not something that would really be giving out some disadvantage.
If you have made yourself get caught on the dump then it would really be just that normal that you should really be holding up your position and never ever make yourself make out some cut loss.
We know about Bitcoins potential, it might be able to drop which it is really normal for a market to do such thing which time will come that there would really be a recovery.
It might be a couple years of waiting but doesnt mean that it wont really be able to reach out those entry point of yours. This is why DCA would be the best or wise thing to be done.

Although there are really people who would really be skeptical on doing action because they have already experienced about being that losing their investment initially on which it would
really be that surprising that you wont really be making out some further step for you add up your investment.

[Sarah Azhari]

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.

Damn, you are a great fighter when held BTC for many years. I have learned much from you because you have good being control of your emotion. a beginner like you usually has a fear when the price dropped significantly under 50%, but you are not tempted, you still held BTC until today. Dude, Inderactly you are already a good manager, you don't need to ask someone here how to be a manager, because you teach us how to be patient and hot to manage the emotion which is hard to do as a normal person.

[Pandu Geddon]

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.

investment related to your satisfaction. if you are satisfied with the increase in the investment you made then there is no mistake if you sell it. but what I see from you is doubt, you doubt that you can see Bitcoin reaching its high again.
if I were you, better hold off until bull season comes again. you can sell your Bitcoin at that time. selling when the market is down, is not what anyone would suggest. it might be different if your asset is not Bitcoin. going out and choosing another asset might be the alternative. but you hold Bitcoin, so just wait patiently.

[rikybrosh]

it seems that you are really newbie. it is okay to have such confusion, but I think it will be better if you keep calm and learning. don't you made analysis before you buy bitcoin?. at least you should look at full bitcoin price chart and learn more about what influence bitcoin price. there is an event called halving which can make bitcoin price rise really high, it will happen soon. maybe it will be good for you to keep holding bitcoin until that time come.

[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.

What do your good reasonings tell you?

Remember, one principle that guides bitcoin investments or trading at most of that;
You buy when the market is low or rising and sell when it's high.

Considering where the market is now and that be $29.k from an ATH at $69k, if your to go by that principle, you would find the idea of selling now to be out of place. Bitcoin is down now from the current ATH,  yigvemissed the chance to sell and what you supikd be doing now is buying with DCA strategy rather than selling. Selling would mean your losing even though you would be selling to invest in a different commodity.  No investment is promising and as such, you could still get to lose.

The best for you would be to stick with what you know, what's at hand and before come next bullrun, you might get that chnace to sell if that be your plan towards your hodlings.

Always stick into that principle then you should really be just fine but if you do the other way around then you would really be finding yourself on doing the wrong move which is to buy high and sell low.

In terms of trading then it would really be just that sensible that you should really be sticking on something that would really be beneficial and not something that would really be giving out some disadvantage.
If you have made yourself get caught on the dump then it would really be just that normal that you should really be holding up your position and never ever make yourself make out some cut loss.
We know about Bitcoins potential, it might be able to drop which it is really normal for a market to do such thing which time will come that there would really be a recovery.
It might be a couple years of waiting but doesnt mean that it wont really be able to reach out those entry point of yours. This is why DCA would be the best or wise thing to be done.

Although there are really people who would really be skeptical on doing action because they have already experienced about being that losing their investment initially on which it would
really be that surprising that you wont really be making out some further step for you add up your investment.

No matter what the price of Bitcoin is, you continue to buy it. With time, you can reduce your investment's sensitivity to market fluctuations. You made a good point by mentioning that.

You're right; it takes bravery to hold on during a market decline. However, it is important to remember that Bitcoin has proven its durability on multiple occasions. It can always pick itself up after a fall and clean itself off. There is no reward without pain.

The market is a jungle and not for the faint of heart. Even if others cast doubt on you after a setback, remember that the genuine champions are the ones who recover stronger than before. Those who give in to their fears are the ones that end up on the losing end. Remember that its not about trying to time the market, but rather spending time IN the market, and act accordingly.

[Sebas.tian]

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 would have sell and save the money to wait for the price to decrease down like the way it decreased to $18,000 last year before you can buy to wait for the price to increase above $80,000 because I know that is your target before you can sell. I will advice you not to sell in this current price because it will not help you to get what you want from your investment because Bitcoin investment is the best investment you can invest and have every reason to invest again base on the good results you will achieve from it. Keep holding your Bitcoin because the green light is preparing to remain stable for short term investors and long term investors expectations to come through soon.

[suzanne5223]

he's already waited for years, so it wouldn't hurt for him to wait a lil bit more. unless, he needs the money urgently. but if he will venture into alts, better think of his decision. because btc is already worthwhile as it is the leading crypto and most alts are just following its lead.
i don't understand about not having good management, does it mean, he can't secure the wallet he is using to store btc?

Yes, waiting more won't hurt her but her patience seems to be fading away and she can't wait anymore that's why I am making her understand that switching her investment into altcoin will be a worse decision.
About the management, I think she was talking about investment management not security of the cryptocurrency.

[panganib999]

No point in selling your bitcoins now if you were able to hold it for as long as that and take the loss with you. Biding more time as we move across the next halving is the best option for people who want to take their chances with bitcoin but if you don't want to and that's fine, I suggest you look into day trading your crypto as keeping them on a long hold will not do anything especially without much price movement nowadays. I can't really tell you if there are any good bitcoin alternatives as there aren't as of the moment, with every coin in the market in a precarious state as they are. So my expert advise is just hold your bitcoin now, you were able to hold it for more than a year, what would 6 more months do right?

[jostorres]

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 didn't sell when the price reached $69k yet you're thinking the price below $30k is reasonable to already let go. What made you think that way? Are you tired of holding?

If you hold your Bitcoin for many years (as you've said) then you're already aware that the price currently is just temporary. So if you're selling at the current price, you became a weak investor despite of being a hodler for years. Anyway, it's up to you though since we have our own way of thinking.

He didn't sell at $69k because he probably thought the price would go higher, and now when the price is around $30k and isn't moving much, he is probably panicking and thinking what if the price goes down even more from here, and an investor with that kind of a mindset can never get much profit and will eventually exit the market because if you don't know the right time to sell and also don't have enough patience to hold, you can't survive in this industry.

A lot of people make the mistake of not selling at the peak thinking they will get more profit once the price goes up even more which doesn't happen at that exact time, and then they will either wait for a full cycle to get a better price or panic and sell at a much lower price just like our OP here.

[Natalim]

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.

Perhaps, you are good at holding but not good at making decisions about when to sell them. You have been influenced by someone people talking about hold but this is not mean that we have to hold forever because profit can just be earned if we sell our Bitcoin at a higher price. What I can say/suggest to you is to just continue holding and never make a miss to sell them when the market turns bullish. Many people had missed their chance to sell them on its ATH because of thinking that there is more, if you have that kind of mindset, better to stop and change it otherwise, this will be the reason fo your failure.