Can I really hold onto my bitcoins in the future?

[MrNata]

Hello all forum members. I am new to this forum and this is my first post. I have been familiar with Bitcoin since 2019. In 2015, when I entered my Honors first year at university, my family situation was very bad financially. I told my family situation to the head of my university then sir gave me a job opportunity. In the house where Sir lives, he has a neighbor, an old woman lives there. The old woman's children lived abroad and had citizenship there. My job was basically shopping for him, withdrawing money from the bank, basically working as his runner.  He paid me $100 a month. I could save $30 dollars a month and put that money in the bank. The old lady died just three months before my honors final exams started. I worked under that old woman for three years and seven months. After completing the final exam, I was not sure what to do with the money, whether to keep it in the bank or not, then a friend of mine told me to invest the money in Bitcoin. I didn't think about it at first but I spent a month browsing the internet about Bitcoin. Later I became interested in Bitcoin. I withdraw my bank money and invest in Bitcoin. I don't know why I didn't sell Bitcoin when it reached its highest price.  Currently I am unemployed for three years after completing my studies. I am trying hard to find a job but luck is not helping me. I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

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[Davidvictorson]

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

Yes Bitcoin price has gone up now $70k but in the next 23 days or so after the halving it will increase more. Be patient. You say you have two months to make a decision,the halving even is in less than two months. You can make you decision to sell after the halving if you haven't gotten any employment then.

Another suggestion for you while you wait is to try out odd jobs. They may not bring in big bucks but it is something you can do in the mean time while you wait to get employed or take the next decision after the halving.

[Ruttoshi]

It depends on your situation and the scenario playing around you right now. If you can wait for some months without it affecting your daily needs, then it is better to wait than rushing to sell your bitcoin. This is because after the halving we are still expecting a higher price than this. Bitcoin price peak which will be the recorded as ATH for this circle will be next year.

On the other hand, if you don't have any means of surviving, and it is a must for you to sell your bitcoin to survive, it is better that you sell it to survive, than hodling it so that you don't die and live your bitcoin investment. You should also take note that for you to be able to hodli your bitcoin investment for a long period of time, you must have means of income, so that situations like this, selling your bitcoin will not only be the option.

[Essential10]

OP, it is a good initiative if you plan to save money from your student life. If I'm not mistaken if you calculate the number of days you were able to deposit money in the bank you could have deposited around $1300 and with that money you later invest in bitcoins. You witnessed the peak price of Bitcoin in the first phase but still you did not withdraw your money from there. But currently you are seeing new highs in the price of Bitcoin again. Anyway, hopefully you're seeing the profit now. so I think you don't need to sell bitcoins now. In my personal opinion for the near future what you can do is hold your bitcoins for when bitcoins will halve and then bull run may cross $100k. If you can catch big profits then it will be easier for you to start business from your money in future. Just be patient and wait.

[Apocollapse]

Your topic title ask to hold Bitcoin for long term.

While your post is actually ask either you sell your coins to start a business or use Bitcoin to change your life because you're unemployed.

The best is looking for a job, trading Bitcoin is really risky while start a business isn't recommended because you don't have enough money to cover you, in case your business didn't work well.

[Kelward]

We're in the early stage of Bitcoin bull run and after halving in couple of weeks time, there's a high probability that the price of Bitcoin will be progressively pumping to reach a new ATH, so the longer that an investor holds into his Bitcoin in this season the better ROI for him. So it's your call now, the longer you hodle the more profit that it acrues to you, you'll have to decide how long you can be able to hold on before selling it, and solve the important financial needs that is before you. You're in luck that it's not in bear run that you're under pressure to sale, it would've been a lose for you. Welcome to the forum.

[Hatchy]

Experienced members of the forum give me some advice what should I do.

Your story is quite motivating mate. Though we all know how hard it is these days to get a job even for a fully experienced graduate in some countries. That's why Bitcoin and other Investments opportunity are open to us all and once you find a way into these investment opportunities you should make sure to grap the chance and make a living out of it.
Well, it's normal for an investor who really needs funds to take care of some personal things to be tempted to sell of his coins. This is why it's very important to have a good source of income before investing in Bitcoin. This will help you solve other problems without eating into your investment. Bitcoin price has increased tremendously in the past few weeks and we are expecting more from it after the halving in April. So I will advice you to manage for now as you will get to enjoy your investment profits soon so don't be in a haste to sell.

[Dunamisx]

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Forget the long story and focus on what you wanted to achieve with bitcoin investment, if you enter now and invested, make sure you have enough patience to hodl, this will give you more upper hands towards making profits over the investment, you have the privilege of coming in at any time so far as you can wait and hodl with your investment to be profitable over time, those that have done this long time ago are now enjoying the benefits in that and if you make your own decision today, in the future times to come, you will be among those that will be referenced upon to have invested earlier before then.

[Eleutheria]

Priorities set themselves and we have to plan around them. The halving is around the corner and sometime after that till the end of next year Bitcoin should go above $100,000, but at different points between now and then the market will be unpredictable and only a comfortable holder can ignore the rise and falls.

Not sure why you have two months to make a decision, but your family priority comes first. Selling the bitcoins to take care of domestic needs is the best decision now. A job can always come later and you can buy more bitcoins.

[Husires]

If you have to make a decision in the next two months, it is better to sell. The price rejected the $73,000 and was unable to break it and it appears to be $73,000 was ATH for the period before halving. Historically, this period witnesses a correction in Bitcoin.

Instead of trying to convince yourself that the price will reach... +$80,000, it is better to sell now instead of waiting, especially since you need money and the time frame is only two months.
If you have the ability to wait until the middle of next year, you may double this money from investing in Bitcoin.

[Kristiyana]

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

Yes Bitcoin price has gone up now $70k but in the next 23 days or so after the halving it will increase more. Be patient. You say you have two months to make a decision,the halving even is in less than two months. You can make you decision to sell after the halving if you haven't gotten any employment then.

Another suggestion for you while you wait is to try out odd jobs. They may not bring in big bucks but it is something you can do in the mean time while you wait to get employed or take the next decision after the halving.

Well I think you're in the right position to decide if you're going to sell it or not, establishing a small business for yourself is also part of investment, but what really matters is if you can maintain this business for Long term. if I'm in your shoes I think I will hold on to it till the end of the halving, I'm pretty sure that there will be a massive increase in the value of bitcoin after then.

[SatoPrincess]

Though you didn’t exactly give a clear date when you bought the bitcoins, I’m sure your investment must have gained significant value since the time of the purchase. I’m a huge believer in hodling Bitcoin and would prefer not to spend my bitcoin savings unless it is an emergency. In your case, you have been unemployed for three years, I don’t know how you have been surviving all this time. I’m sure it hasn’t been easy holding on to your bitcoins given up or financial difficulties. You need source of income, I suggest you sell part of your bitcoin hodlings to finance your business idea. Don’t sell all your bitcoins.

[MetaTeraX1]

Hello all forum members. I am new to this forum and this is my first post. I have been familiar with Bitcoin since 2019. In 2015, when I entered my Honors first year at university, my family situation was very bad financially. I told my family situation to the head of my university then sir gave me a job opportunity. In the house where Sir lives, he has a neighbor, an old woman lives there. The old woman's children lived abroad and had citizenship there. My job was basically shopping for him, withdrawing money from the bank, basically working as his runner.  He paid me $100 a month. I could save $30 dollars a month and put that money in the bank. The old lady died just three months before my honors final exams started. I worked under that old woman for three years and seven months. After completing the final exam, I was not sure what to do with the money, whether to keep it in the bank or not, then a friend of mine told me to invest the money in Bitcoin. I didn't think about it at first but I spent a month browsing the internet about Bitcoin. Later I became interested in Bitcoin. I withdraw my bank money and invest in Bitcoin. I don't know why I didn't sell Bitcoin when it reached its highest price.  Currently I am unemployed for three years after completing my studies. I am trying hard to find a job but luck is not helping me. I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

prioritize your family, if you don't have enough money to live on, please sell your bitcoins to live on and open a new business. but once again you know your family's situation, so you decide independently, btw I salute you, your story is very inspiring, I hope you will be successful and tell your life experiences to the whole world.

[Stable090]

After completing the final exam, I was not sure what to do with the money, whether to keep it in the bank or not, then a friend of mine told me to invest the money in Bitcoin.

Are you planning to follow what your friend told you? I will recommend you shouldn’t even try it. Bitcoin investment is really a good one, but your friend is asking you to invest in bitcoin at the wrong time. Just as you said in the post, you have tried secured a job multiple times but unfortunately, you haven’t been able to get one yet, so bitcoin investment is really a wrong suggestion right now.

If you invest all the money you are having currently into bitcoin, which money will you be using to feed or take care of other things, if you don’t have any sources of income and you decided to invest in bitcoin, am very sure you will end up selling the bitcoin just to take care of your self, which bitcoin might have dumped when you are planning to sell.

What I will tell you is just seat down and think about any business which you can start with the money, after establishing a business, then you can decide to invest the profit which you are making from the business into bitcoin.

[boyptc]

Well, our opinions really matters to your decision making? Because I don't think someone can give you what the right thing to do but only you.

You need to assess your situation if you really are happy and satisfied upon selling those Bitcoins for you to start that business you're planning.

We're investing to make use of it and I guess that's one of the goals that someone can achieve and will not just keep the money for nothing.

[Uhwuchukwu53]

This is not time to fear is time of courage of holding because the set long awaiting time is almost near, any one who is holding should hold because very soon the ATH will occur.

Allot of advice is already in the board that may seem related this but you need sacrifice just the period by cutting down some of your expenses inorder to keep holding, because there is light at the end of the tunnel.

[AYOBA]

I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

As a man, it is very important for you to help your family, especially when you are the only male in your family, because everybody in your family will be dependent on you. It is good that you try to stand up for your family so that you and them can survive. Honestly, the price of Bitcoin has been pumping currently.

In my opinion, it would be better for you to sell part of your Bitcoin and establish another business where the success of your income will come every week or every month, and from there you will be able to get some amount of money that you can use to help your family's without touching any of your Bitcoin.

Because if you mistakenly sell all your Bitcoin now, you will come, and regret when the bull run arrives, after you see that many of your friends have earned so many profits. But with this little business you start, it will give you so much profit that you can even use it to buy more Bitcoin to hold against bull run.

[Smartvirus]

Should you be out here hoping someone would advice you to sell off all your hodlings with hopes of starting some other investment and perhaps reinvest in Bitcoin later on in the future, you would be looking in the wrong place.
Don’t forget, Bitcoin it in itself an investment as well as a currency. So,

So in actual, what you’re proposing is that, you want to end one investment just to jump into another investment filled with uncertainties… is that it?

It doesn’t make sense to me. That would be a poor way to make a decision. In your bid to increase and solve problems, you try not to off any stream of income and this right now would be laying off your Bitcoin investment.

Diversification is good practice but, your not diversifying when you loss another stream of income. Best thing to do would be that, you sell just a part of your portfolio and startup a properly researched business. That would help you more.

[Truthlovecoins]

I think it is possible to hold unto your Bitcoin into the future even up to a decade if you may.
I have read posts here that talk about holding or accumulation of Bitcoin for a long time until one decides he/she wants to sell them or withdraw it or invest the Bitcoin to buy other altcoins and shitcoins.
You just have to be more consistent in this forum to learn how to safely do it and the needed tools to attain that goal.

[leonair]

Hello all forum members. I am new to this forum and this is my first post. I have been familiar with Bitcoin since 2019. In 2015, when I entered my Honors first year at university, my family situation was very bad financially. I told my family situation to the head of my university then sir gave me a job opportunity. In the house where Sir lives, he has a neighbor, an old woman lives there. The old woman's children lived abroad and had citizenship there. My job was basically shopping for him, withdrawing money from the bank, basically working as his runner.  He paid me $100 a month. I could save $30 dollars a month and put that money in the bank. The old lady died just three months before my honors final exams started. I worked under that old woman for three years and seven months. After completing the final exam, I was not sure what to do with the money, whether to keep it in the bank or not, then a friend of mine told me to invest the money in Bitcoin. I didn't think about it at first but I spent a month browsing the internet about Bitcoin. Later I became interested in Bitcoin. I withdraw my bank money and invest in Bitcoin. I don't know why I didn't sell Bitcoin when it reached its highest price.  Currently I am unemployed for three years after completing my studies. I am trying hard to find a job but luck is not helping me. I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

Your story is very beautiful and it is very admirable that you were interested in investing in Bitcoin at that time. now bitcoin is at $70k and a bit more and meanwhile you are going through a bad time investing in bitcoin or somewhere else is meant to back us up in bad times so if you are in a situation where you have enough money or means to back up  If you don't have it, you can sell the bitcoins now because they have pumped enough and it is now in the new ATH. When your situation is better and you find some source of income then it will be better to continue investing in Bitcoin again using DCA method.