BTC profit taking strategies?

[ImThour]

Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.

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[yazher]

If you are hesitant to get back your capital and want to use it for some more reasonable investments, then you can just simply take it when the bull runs come and sell it all in the crypto market to maximize your income at that point and maybe when the price will start to decrease again and you have made some good earnings in your new work or job, then you can buy again and just repeat what have you done before to avoid risks. But if you don't have any problem when you lose your capital to buy bitcoins at any time, then you can just buy more whenever you have some money and just keep hodling until the price is raised to hundreds of dollars for each bitcoin.

[snowpega]

Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.

dear plan is very important in the market of Bitcoin plan of taking entry matters but the plan of exit matters more because if we miss any opportunity it may be going to our last opportunity. But you are right this is too soon for taking profit. But if we look at the history of the bitcoin market have been making correction at the edge of the bull run where Maket may give us another buying opportunity where we can fill up our bags again.

Last day when the market was at $64k I also booked some profit to buy back at the edge of a bull run. Now I am waiting patiently for that to occur. Dear, what do you have how much correct we may see in the coming future? In my opinion market can go $45k it is just a rough prediction/idea because the bitcoin market already has gained a lot to its price. So if OP is Taking Profit he/she should consider to for buying back opportunity in the future. What do you say?

[m2017]

Oh, this desire to squeeze out maximum profits. Someone is trying to catch ATH for this, and someone is making a selling in parts like this. Bitcoin already demonstrates such profitability that you can get in few other places.

Selling bitcoin in parts is a good idea (allows to average the selling price), but at 0.01BTC per week it will take a very long time, and bitcoin ATH is candle-shaped, which means there won’t be much time to sell at the best price. The 0.01BTC value should be increased to at least 0.1BTC, maybe more.

There are 4 weeks in a month = 0.01BTC x 4 = 0.04BTC per month (with your strategy).
0.04BTC x 12 (number of months in a year) = 0.48BTC. Sticking to your plan will take you ~3 years, which will not allow you to get the maximum profit.

0.1BTC x 4 = 0.4 (it will take ~3 months to reach the 1.5BTC limit) - seems more realistic, although it is also not the most rational solution.

Probably best is 0.2-0.3BTC per week.

[Maus0728]

Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.

Totally agree, 62k USD is still below the previous ATH and if you're a long time hodler, it would be a disservice to your efforts of hodling at the bottom just to sell now, sure there's the possibility that you can sell now and you'd luckily sell when the price starts going down again but if I were you, I wouldn't risk it anytime soon, it's definitely not a good idea especially with the expensive transaction fees caused by the ordinals, it's better to wait for the price to go to your target and then sell at that point, that way, even if you're paying huge transaction fees, you're getting the profit that you deserve. Follow what I and @ImThour says, hold on for dear life my cryptobros and cryptosis!!!

[adultcrypto]

We currently have around 1.5 BTC

Anyways, the strategy I'm considering is something like, when BTC crosses $100K CAD, (it's currently at $83K CAD) I plan on selling 0.01 BTC per week. Kind of like DCA but in reverse. Then possibly increasing that amount alongside BTC value, so if it crosses $125K, sell 0.0125 BTC per week, 0.015 per week at $150K, etc.

From $83k CAD to $100k CAD, it is about 20% more increase. It looks good to take profit but I believe it is too soon because we are still 2 months until April halving. Bitcoin can make its all time high that is higher than 2021 all time high and I believe it won't stop 20% from today price.

You have 1.5 BTC and want to DCA take profit with 0.1 BTC each time. Do you think it is too small part of your portfolio to take profit, even DCA.

I would like to do DCA take profit with 0.1 BTC but my start price will be like 40% from today price, not only 20%. I will take profit with DCA like 0.1 - 0.1 - 0.1 - 0.2 - 0.3 - 0.3 - 0.3 and 0.4 BTC. Because when Bitcoin moves nearer to its new all time high, I will increase the amount for taking profit.

I think the optimal profit taking point should be post halving because the halving will surely inject some volatility and upward movement into the market. Those looking for sharp profits can use the present market conditions to do so but in my best opinion, waiting for what the halving will bring is a wise decision.

I expected the present bull run after the halving and I cannot point to what is causing it at the moment. But I'm optimistic that after halving, the market will respond positively. Base on Bitcoin price history, we will be seeing some unexpected prices as a consequence of the halving.

[kryptqnick]

Hm, reverse DCA sounds interesting and can make sense if you know you want to sell in the near future. But Bitcoin isn't at the top yet, and after at gets there, it can easily go down for a while (like, 50% down, for example), so selling when that happens can be a very unfortunate decision. Considering that Bitcoin tends to stay well below ATH for years and then grows beyond the previous ATH for much shorter periods of time, reverse DCA might not be such a good idea because it can mean selling mainly during far from optimal periods.
If you want to sell some BTC, that's totally fine, but if you're willing to wait for several more years, it might bring bigger profits if you still keep some BTC as an investment.

[Gormicsta]

Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.

It's very important to remain patient and not get caught up in short-term price fluctuation when investing in Bitcoin. What really matters in Bitcoin Investment is the long-term results, because you can only reap the actual benefits of Bitcoin when you go long-term, that way you'll not only be gaining the full benefits but also saving yourself from the trauma and heartache of dips and Bitcoin's dramatic trends.

[YOSHIE]

My wife and I have been investing in BTC since around the last ATH, so this coming halving is the first one we've experienced. As a result, we need to figure out a profit-taking strategy. I was hoping to get some input from the community here.

Bitcoin today, 29/2/24, has soared to $62,911, meaning that Bitcoin has experienced an increase in price over the past few months, halving is one of the triggers for Bitcoin's current rise, If you have already bought and invested in Bitcoin, that is a good move, if you ask me, of course don't rush to sell it, the time is not yet right.

Halving occurred in 2021, Bitcoin showed a new ATH at the level of $68,789, I believe that the ATH in 2024 Bitcoin will be at the level of $70-80k, meaning that if the price of Bitcoin has reached that position for at least the next few months, maybe you can make a decision to sell it, that's based on my speculation, which is certain that each user has their own understanding in assessing their respective Bitcoin sales to achieve good results.

[boty]

Do not take profits soon, wait for it to reach atleast $130k price range and then you can start taking profit. I mean it's not a surety that it will reach that price amount which I have mentioned but I truely hope it will go way above that. Not today, not this month but surely one day. Just HODL it and do not look out for taking profit just before Bitcoin Halving. Prices will never be same here and you will miss holding BTC worth your current average.

It's very important to remain patient and not get caught up in short-term price fluctuation when investing in Bitcoin. What really matters in Bitcoin Investment is the long-term results, because you can only reap the actual benefits of Bitcoin when you go long-term, that way you'll not only be gaining the full benefits but also saving yourself from the trauma and heartache of dips and Bitcoin's dramatic trends.

Therefore, everyone who decides to invest must continue to learn about their investments in order to be able to properly carry out the investments they make. For those who really understand it well, we will continue to hold back in the long term the profits from these investments and will not affected by falling prices, but if they see prices are low they will certainly take advantage to be able to collect an amount that they can afford to hold in the long term in order to make a profit.

[Baki202]

Everyone has their own strategy, I think the strategy you use is reasonable to apply, where if you sell BTC you will already make a profit, especially if you will get a profit above the capital we put in / when entering to buy Bitcoin
The suggestion is to sell enough BTC to buy your dream house and save it for your old age from the proceeds from selling your BTC. If you feel that all your wishes have come true, let your BTC become a long-term investment with a target of achieving maximum profits.

The same thing can not work for everyone, but since it is Bitcoin, most have similar strategies. There is nothing new it is either your trading, your mining, or your holding, so it is almost the same pattern, The only place that might have is while you want to trade, which I love more than holding because I don't have enough money to buy to hold, especially now that the price is going up since we are waiting for a bull run.

That is something everybody wants to do to make a profit above their capital, It might not always happen that way but having it in mind is not bad at all because it is something you have invested your time and energy in. When you make enough profit from bitcoin, you can buy what is even more than a house, and that is one of the benefits that investing in Bitcoin comes with. To make a profit, I have that long-term goal in mind but need good money to enjoy my investment.

[Moreno233]

The right answer varies from person to person. How much do you have in btc? Do you hold everything in btc? What's the cost of life in your country? What's your age? Do you own a house? etc... Based on the answers you'll give to these questions, you should follow a specific asset liquidation strategy. Since we don't know your situation, we can't give you any meaningful advice here.

Here is an example:

Is the money in btc enough to buy a house? If you don't own a house at the moment > sell btc and buy a house.

When I saw the topic of the thread, the first thing that came to my mind was taking profit to do what? I was forced to ask myself, does this taking profit mean selling all my Bitcoin and converting the money to stable coins or fiat? The answer that came out of these question actually got me worried and confused. If I take profit now and convert to fiat, then there is inflation to contend with, apart from the urge to live extravagantly. The other option being to leave it in stable coin, then again, will I be able to forgive myself if after converting to stable coin Bitcoin give X2 from the present price? This idea of taking profit does not make sense to me at this point.

[jrrsparkles]

You might make more if you wait little longer but if cashing out is your ultimate decision then what you strategized looks good and if that's enough to cover the initial down payment. But think again do you really need the house or apartment or just wait for another 4 years to have better returns?

[bitzizzix]

You have planned to invest in Bitcoin 1.5 with the intention of using it to help you buy a house and retire when you are old.
That's a good plan, but the question is why you always sell some of the profits when there is a bull cycle. And you will sell with a profit of 0.01 every week and when the Bitcoin price rises you will also increase your selling profit when the Bitcoin price continues to rise from ATH to new ATH, and the question is why you sell. And if you don't really need it, it's better not to sell it. You still have to buy or collect them and change your plan to the correct DCA strategy.
With this, if Bitcoin price reaches $125K as you say. You can not only buy a house, but you can also buy the entire contents of the house in a luxurious manner and can also guarantee your old age and future as well as the future of your children.

[Asiska02]

Your BTC strategy on pulling out your profits sounds very nice and would be great if bitcoin continues to move in the direction you’ve predicted it to, because that’s the only way you can get perfect result for what you want. I thought you were going to get a house after selling some part of your BTC but seeing how costly it is to own a house over there, I don’t think that is achievable this coming bull run since you already want to keep and bag more for another cycle. With the current worth of bitcoin, I can get a decent house here in Nigeria and still have some money left to use. I wish you all the best in achieving your future goals of getting a house with your wife. I hope the bull run favours you to get a huge down payment for the house you want.

[Fatunad]

What do you guys think? Does that sound like a reasonable strategy? Is there anything else I need to consider?

Thanks  :-)

Totally depends on you and just checking out on the things you have said or mentioned or method then you are selling out in increments basing up into its movement or increase on which it isnt really that a bad idea.

The only issue i do only see on this one is that whenever the market would be making out that trend shift. Then are you will to wait up for another 4-5 year cycle before you could be able to sell out again?
You would really be needing also to consider about your average price entry because we know that once  this market would be having its bear market period then it could really go its price into the floor
on which it would really be that resulting into such potential huge problem that you could really be having when you do see your portfolio is on negative.

Profit is profit,take whenever you do seem fit. We do have our own takes and considerations on when we should really be that taking that profit.
Just dont expect too much though because this market could make out that u-turn in a snap.

[hatshepsut93]

It's a good strategy, but if this cycle will play out similar to the previous ones, it's better to wait with the selling until the price reaches at least 1.5x of the last ATH - so above $100k USD. Then you cast start selling progressively more and more. You don't need to time all or even most of your selling at the next ATH - that's unrealistic, but getting 80% close to it is a pretty good result.

[kelechi]

I plan to take it the same way I was buying it by parts

[darkangel11]

Anyways, the strategy I'm considering is something like, when BTC crosses $100K CAD, (it's currently at $83K CAD) I plan on selling 0.01 BTC per week. Kind of like DCA but in reverse. Then possibly increasing that amount alongside BTC value, so if it crosses $125K, sell 0.0125 BTC per week, 0.015 per week at $150K, etc.

That's a pretty solid strategy. One thing I might add is that you should never exit 100%, unless you want to gamble a bit. Bitcoin is stable and in general is bullish, if you look at what it does every cycle. I believe that in near future you won't see deep corrections anymore, as it matures into a store of value. You could see it by looking on charts that every bear market correction gets more shallow and it's going to speed up in near future. 80% corrections are long gone and we'll start seeing 50% bear markets then 30% and so on.
The deal is, you don't know when the flip will happen but it will and one day you'll DCA down from what you think is the top and see a 10% correction followed by a 30% move up over the course of a year and that will be the end of the whole bear market.
My plan is to spend bitcoin during bull markets on the things I need and not try to turn it to its inferior form (fiat money) just to save myself from a possible correction.

[puloweh555]

Hm, reverse DCA sounds interesting and can make sense if you know you want to sell in the near future. But Bitcoin isn't at the top yet, and after at gets there, it can easily go down for a while (like, 50% down, for example), so selling when that happens can be a very unfortunate decision. Considering that Bitcoin tends to stay well below ATH for years and then grows beyond the previous ATH for much shorter periods of time, reverse DCA might not be such a good idea because it can mean selling mainly during far from optimal periods.
If you want to sell some BTC, that's totally fine, but if you're willing to wait for several more years, it might bring bigger profits if you still keep some BTC as an investment.

I agree with you. It sounds very strange to do reverse DCA when the BTC price has not yet reached its peak, in fact the price is still below the ATH and has not created a new ATH pattern. why not try to restrain yourself, especially since the halving period is getting closer and will most likely create a new ath.

However, we can only suggest that the decision remains in OP's hands because each person's strategy will be different and each person's needs will also be different. Maybe Op did a strategy like that because there was something because he wanted to buy a house so he needed to utilize 1.5 btc assets in the short term.