BTC profit taking strategies?

[Kelvinid]

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.

Instead of selling 0.01BTC per week, why not sell them all when it reaches your target price?
In fact, you actually know the volatility of the market and its unpredictable price. What if the price will no longer move higher over $100k and it drops again, are you gonna hold or sell?

If you BTC OP at $60k last bull season, even selling them at $100k or $90k is already a huge profit. I don't think it ever satisfies you. Remember, greediness was not bad but if there is too much greediness, that is not right anymore.
 - it should be planned well and make decisions that we never have to regret. If your strategy is working effectively, then stay with it.

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[kentrolla]

This would work only if Bitcoin price keeps increasing but in case if it suddenly falls or enters into bear market then you will either be selling at loss or your funds will be struck as you cannot withdraw at loss. I would suggest you to wait till the end of this year or till we ride the upcoming bull run and once it crosses ATH then you need to set up a stop loss and hodl so that you can keep increasing stop loss value as long as Bitcoin's price keeps increasing and in worst situation if it fall then you don't lose much as you would sell at SL with sufficient profit.

[OcTradism]

This would work only if Bitcoin price keeps increasing but in case if it suddenly falls or enters into bear market then you will either be selling at loss or your funds will be struck as you cannot withdraw at loss. I would suggest you to wait till the end of this year or till we ride the upcoming bull run and once it crosses ATH then you need to set up a stop loss and hodl so that you can keep increasing stop loss value as long as Bitcoin's price keeps increasing and in worst situation if it fall then you don't lose much as you would sell at SL with sufficient profit.

If you worry about it, take profit gradually to reduce risk of loss when Bitcoin turns to a bear market.

If you bought around bottom and already have like doubling your initial capital, you can take profit 50% of it and get your initial capital. With rest 50%, you can let it run as it is your profit, even Bitcoin turns to a bear market, it is still your profit, just smaller.

Your strategy can be: 50% for taking initial capital, 25% for next take profit, 25% for the last round of take profit.

[pinggoki]

Sounds like a really good profit taking strategy to me, you've got a target selling price and at the same time you're not selling all of it at once which is smart because that way, you can easily sell at more profit the next time or maybe even get some profit during the peak and not regret hodling for a long time and you're not wallet emptied when the price starts stabilizing then dumping again. I would've liked to recommend you to hold on to it and set a target price to sell but when you look at it, it's more logical to do this, make sure that you're ready for the transaction fees though, they're going to be really expensive during those times and probably it's even more expensive than the last time because there's ordinals now that's hitching on the network and just imagine what would happen when every retail investors are selling their bitcoins in droves in combination to this one, it's going to be a riot.

[ChiBitCTy]

If this is all true, you need to read a recent post I made.. https://bitcointalk.org/index.php?topic=5485048.msg63658943#msg63658943 .

STOP telling people how much bitcoin you have.  Don't even tell anyone if you own a single dime.  Keep this stuff private man!  Also, NO ONE can tell you properly how to go about this unless they knew your entire financial situation, your financial outlook, where you live and the tax implications etc etc etc.  Discuss it with a financial advisor in confidence ONLY!!!

[Zanab247]

This would work only if Bitcoin price keeps increasing but in case if it suddenly falls or enters into bear market then you will either be selling at loss or your funds will be struck as you cannot withdraw at loss. I would suggest you to wait till the end of this year or till we ride the upcoming bull run and once it crosses ATH then you need to set up a stop loss and hodl so that you can keep increasing stop loss value as long as Bitcoin's price keeps increasing and in worst situation if it fall then you don't lose much as you would sell at SL with sufficient profit.

And it will be difficult for the price of BTC to continue increasing without bear season occur, which you can confirm it from this new bull run that just occurred in the market for hodlers to begin to sell and make something reasonable from their patience over one year and some months waiting for bull run to come.

There will surely be bear season where you can buy and hodl until another bull run come before you can sell to make more money from your investment, but at this period, if you buy BTC from the market, it will not let you to make a good profits that will encourage you to invest another day, it will be favourable if you can wait for bear season to come.

[Distinctin]

Sounds like a really good profit taking strategy to me, you've got a target selling price and at the same time you're not selling all of it at once which is smart because that way, you can easily sell at more profit the next time or maybe even get some profit during the peak and not regret hodling for a long time and you're not wallet emptied when the price starts stabilizing then dumping again. I would've liked to recommend you to hold on to it and set a target price to sell but when you look at it, it's more logical to do this, make sure that you're ready for the transaction fees though, they're going to be really expensive during those times and probably it's even more expensive than the last time because there's ordinals now that's hitching on the network and just imagine what would happen when every retail investors are selling their bitcoins in droves in combination to this one, it's going to be a riot.

I believe as long as you never sell for losses, then your strategy will certainly work. Selling gradually while bitcoin price is on the surge helps you assure that you are making good returns every time you decide to sell. I cannot say it’s totally big but at least you have already taken advantage on the current price.

However, selling in time of bull run is more advisable because even bitcoin experts timing their bitcoin selling when a new all time high is present. But if you are more comfortable of doing that, as long as profits are there, I think that reason alone is good enough to say that you’re not losing but completely gaining good financial returns from your investment.

[spectre71]

If this is all true, you need to read a recent post I made.. https://bitcointalk.org/index.php?topic=5485048.msg63658943#msg63658943 .

STOP telling people how much bitcoin you have.  Don't even tell anyone if you own a single dime.  Keep this stuff private man!  Also, NO ONE can tell you properly how to go about this unless they knew your entire financial situation, your financial outlook, where you live and the tax implications etc etc etc.  Discuss it with a financial advisor in confidence ONLY!!!

The smartest post I have read thus far!.

I have not scene one person address the tax problem (I know nothing about Canadian taxes).

Simply put you need  figure at the tax implications, possible retirement account tax breaks.

I knew when I opened this post it would full of don't sell it now wait until it moons blah blah blah

[Furious 7]

STOP telling people how much bitcoin you have.  Don't even tell anyone if you own a single dime.  Keep this stuff private man!  Also, NO ONE can tell you properly how to go about this unless they knew your entire financial situation, your financial outlook, where you live and the tax implications etc etc etc.  Discuss it with a financial advisor in confidence ONLY!!!

Yeah, this is what should be done, but in the end, there are a lot of people who show off just for validity and temporary fame so that they are recognized as one of the investors in btc by clearly showing their portfolio.

Things like this are becoming commonplace now because with the current bitcoin hype that is increasingly being discussed, with the natural nature of humans who really want to always be recognized by others and praised by people, they do not hesitate to show the assets they currently have but they do not realize that it is precisely with things like this that makes them one of the targets for irresponsible people.
It is difficult to provide education like this especially for new people because they really want recognition from others which is a human nature that is difficult to change.

[BrotherMencius]

STOP telling people how much bitcoin you have.  Don't even tell anyone if you own a single dime.  Keep this stuff private man!  Also, NO ONE can tell you properly how to go about this unless they knew your entire financial situation, your financial outlook, where you live and the tax implications etc etc etc.  Discuss it with a financial advisor in confidence ONLY!!!

Yeah, this is what should be done, but in the end, there are a lot of people who show off just for validity and temporary fame so that they are recognized as one of the investors in btc by clearly showing their portfolio.

Things like this are becoming commonplace now because with the current bitcoin hype that is increasingly being discussed, with the natural nature of humans who really want to always be recognized by others and praised by people, they do not hesitate to show the assets they currently have but they do not realize that it is precisely with things like this that makes them one of the targets for irresponsible people.
It is difficult to provide education like this especially for new people because they really want recognition from others which is a human nature that is difficult to change.

I think I should address this, as it's a valid topic of discussion.

I realise in hindsight it probably wasn't wise to be even as vague as I was, stating my BTC holding. I'm not trying to paint a target on my back. I'm also not trying to show off; I was just trying to provide context and looking for relevant advice from people who know a lot more than I do.

But yeah, in hindsight, it was a mistake I won't repeat.

[Orpichukwu]

Since it's impossible to predict exactly what will happen to BTC price over the coming bull market, I'm hoping to get a decent return over the course of the cycle without completely selling all of our BTC. Then when it inevitably flips bearish again, start DCAing back in like we have been up to this point.

Since your plan is to sell it and get your family a house and a retirement fund, you have so far been able to accumulate up to 1.5BTC, which is not a small amount considering how much Bitcoin is currently trading right now. 
 
In my own suggestion, since there is no house that needs an immediate down payment, you can be patient enough and wait until bitcoin breaks another ATH, which is above $68,000. I don't know how much that will be when converted to your currency.
 
And if you can still hold it for a little longer, maybe till the end of 2024 or 2025, when the price is predicted to reach up to $100,000 to $150,000, that will be enough to get you whatever you want and also for your retirement.

[Yamifoud]

Since it's impossible to predict exactly what will happen to BTC price over the coming bull market, I'm hoping to get a decent return over the course of the cycle without completely selling all of our BTC. Then when it inevitably flips bearish again, start DCAing back in like we have been up to this point.

Bitcoin investment will certainly give you a decent profit. Indeed, that is how it works as we continue our crypto journey, after selling during bull season, we start to accumulate again during bear season. But don't sell yet, it is too early for now, be patient and wait for a $70k price rally.

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

Thanks  :-)

You still need to observe but I am certain that it works and is reasonable. Otherwise, you need to have another strategy and investment plan.
Stay out of FOMO and FUDs, it won't help you. Keep your goal straight and slowly achieve it as there is no magic in here.

[The Cryptovator]

Whenever I sold my Bitcoin holdings, it was hard to buy them back. Because after selling it, it kept pumping. So we can't predict, actually. If you don't need serious funds, then don't sell your bitcoin right now. Because after the halving, Bitcoin should start pumping, and at the end, you may miss the train. Just set a goal for selling your bitcoin and do something in real life. I will advise you: don't be a hurry; you can buy a house if you have money anytime. But if you missed the Bitcoin train, then you will be in trouble. 

[passwordnow]

You still need to observe but I am certain that it works and is reasonable. Otherwise, you need to have another strategy and investment plan.
Stay out of FOMO and FUDs, it won't help you.

FOMO is the one that makes people miss the true potential of their profit and their portfolio. They are too emotional and always on the news to watch out the updates of the market. But if you've been here for quite a while, you'll get to understand that this bull run won't just be gone too soon and it takes time for it to have some cooldown and for people to realize that we're about to get out of it soon. And as you catch up with the news, you're just trying to give yourself some ideas on what the FUDs are, if you're too tough, you'll never get affected by them but if you're too emotional, that's where the problem begins that might cause you to panic.

Keep your goal straight and slowly achieve it as there is no magic in here.

I agree, going with a slow growth is better than a quick one and then fades away quickly. People are rushing to get into profit with this bull run but they don't have a clear plan on how they're going to take it. Take it slowly and one step at a time because you don't have to hurry as the bull run won't be gone away unless you are following some altcoins that really have a hype that can be gone too quickly. With that, you have to act quickly on how you're going to do it then.

[Shamm]

Whenever I sold my Bitcoin holdings, it was hard to buy them back. Because after selling it, it kept pumping. So we can't predict, actually. If you don't need serious funds, then don't sell your bitcoin right now. Because after the halving, Bitcoin should start pumping, and at the end, you may miss the train. Just set a goal for selling your bitcoin and do something in real life. I will advise you: don't be a hurry; you can buy a house if you have money anytime. But if you missed the Bitcoin train, then you will be in trouble. 

Yes you are that mate especially nowadays if we sell our Bitcoin then we are struggling to buy again cause we all know that the price is keep on increasing even though there's a time that the price will decrease but it is not take too long so if we are too busy in our daily life then there's a chance that we can't find the perfect timing to  buy again some coins. But so far this moments is time for selling our coin's which pretty sure enough that we made some profits from our previous buy.

[Bloodseekers]

Whenever I sold my Bitcoin holdings, it was hard to buy them back. Because after selling it, it kept pumping. So we can't predict, actually. If you don't need serious funds, then don't sell your bitcoin right now. Because after the halving, Bitcoin should start pumping, and at the end, you may miss the train. Just set a goal for selling your bitcoin and do something in real life. I will advise you: don't be a hurry; you can buy a house if you have money anytime. But if you missed the Bitcoin train, then you will be in trouble. 

The advice you give is very useful not to sell Bitcoin holdings that we have saved for things we don't really need because it will be very difficult to be able to buy the same amount as we have sold because the price will continue to increase, if we still can. hold back in the next few months then I think we will be able to get bigger profits and also we will be able to easily achieve the goals of the investment we have made and if we lose the opportunity like now of course we have to hold back the Bitcoin that we have In a longer period of time you can achieve profits from holding Bitcoin.

[2Pizza410000BTC]

Hey guys,

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.

We currently have around 1.5 BTC, and our ultimate goal is to be able to use that to help us buy a house and be able to retire at some point. Nothing too crazy. I'm hoping this bull cycle we'll be able to at least get a decent down-payment on something, then maybe over the next cycle or two be able to pay it off.

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.

Since it's impossible to predict exactly what will happen to BTC price over the coming bull market, I'm hoping to get a decent return over the course of the cycle without completely selling all of our BTC. Then when it inevitably flips bearish again, start DCAing back in like we have been up to this point.

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

Thanks  :-)

Of course I support your strategy which you have analyzed but if you can follow your strategy properly then surely you will get more success and build a house as per your mind. If I had 1 btc amount I would definitely make my success like you and make some more strategies of my own. Currently bitcoin market is very pumped in this pumping market if you sell your bitcoins and wait for dumping it will be better because dumping will happen before or after market halving and market will go up again before bull market so if you can practice in time. Then surely you can achieve more success.

[wiss19]

It should depend on your plans and what you have thought about your holdings from the beginning. As you mentioned, you and your wife wanted to buy a house with the money and possibly retire early with your Bitcoin investments, so your plan should be based on your targets and your selling strategy should give you enough returns for you to fulfill your wishes. If you think the strategy you have can give you the desired returns, you should go for it.

If I was to suggest something regarding your situation based on your goals and targets, I would never suggest you to sell your Bitcoins using a reverse DCA method but I would suggest that you hold all your assets and wait for Bitcoin to top its price of this cycle and then you should sell when you see that it has started dropping after reaching a certain point.

[Ryu_Ar1]

That can be a pretty good option to do because apart from you will enjoy the proceeds of the sale, you will also continue to have btc in your portfolio.
I'm actually thinking of doing the same thing as you right now because I've also been doing DCA for the past few years and will be slowly releasing it to make the profit I have because the profit potential will still continue to exist in this era of increase.

I think that when releasing bitcoin that I have as long as it is not a loss and is included in the release target of the initial plan then it can be done and it is still a good option. Although surely in this case there will be some people who are pro and contra to this but if indeed we have decided that then it returns to ourselves because there will be no coercion in this case to maintain and release the bitcoin we have.

The strategy presented is actually good and I think that will certainly work while the market is still bullish. Selling some of your coins at a consistent manner is never a problem as long as you sell in profits, the trouble will only arise when you sell and suddenly the price went down unexpectedly, and end up selling at loss. But if you are good in timing the market, then there’s no issue with that.

Now, I suggest to keep DCAing as well even with a small amount. That will help you retain your bitcoin in your portfolio and make you capable to still enjoy your bitcoin profits in the future bullish market.

IMHO in this case we will not feel a loss regardless of whether it is a market expert or not because seeing from the initial benchmark from what the OP said he had determined the selling point where he would sell his bitcoin gradually which means he was very profitable when the bitcoin price was at the value that was determined to be sold in the initial planning.
As for when bitcoin eventually declines then it is not a problem but the strategy changes slightly where the original fikus in sales becomes focused on buying and waiting back until the price we set to sell again.

This is a strategy that can still be done in my opinion although there will certainly be some people who will disagree with this but what I feel at this time as long as you invest and sell bitcoin there and get a profit then it is not a failure.

[GeorgeJohn]

Your plan to sell a bit of BTC regularly as the price goes up sounds solid. It's like a reverse dollar-cost averaging helping you lock in profits without trying to time the market perfectly. I like that you're planning to reinvest during bearish periods, acknowledging the market's ups and downs. Just keep an eye on transaction fees and tax stuff and don't forget to stay in the loop with market trends and maybe think about diversifying a bit. It's a smart strategy but everything can be learned

When to sell bitcoin doesn't have a particular time, some people can buy bitcoin and allow it to stay as they like before they can sell their bitcoin, let us know that everyone have a particular duration that is convenient for them to sell their bitcoin, so it's good for we to understand bitcoin very well and know exactly when to  sell.