Why are you taking profit on bitcoin?

[Kagaru]

Bitcoin reaching new ATH and with possibilities of multiple ATH to come again there will be some investors who will be taking profit from their bitcoin investment...

There are 2 reasons to buy bitcoin. And the first one is to leave the purchased BTC to your children as an inheritance. The second reason, which is the most common, is to make a profit when bitcoin reaches a price at which you will agree to sell it. But sometimes you have to sell BTC due to circumstances when you need to incur any large expenses.

That is true yeah. All of them have best motives to hold Bitcoin. Some consider it as a long term wealth to be inherited by their offsprings and others consider it as an opportunity to make take out at some level of profits. Profit-making is not a crime particularly when it goes to good use like abating day to day requirements or towards the grand ambitions. The most important thing is that one has a plan and adheres to it instead of getting carried away. So as long as you are not selling in panic and you are well aware of the reason why you are holding or selling then you are doing it right.

[BlackBoss_]

All of them have best motives to hold Bitcoin. Some consider it as a long term wealth to be inherited by their offsprings and others consider it as an opportunity to make take out at some level of profits. Profit-making is not a crime particularly when it goes to good use like abating day to day requirements or towards the grand ambitions. The most important thing is that one has a plan and adheres to it instead of getting carried away. So as long as you are not selling in panic and you are well aware of the reason why you are holding or selling then you are doing it right.

Consider bitcoin as their own investment and wealth storage or as inheritage of their children, there is a common important thing. They must store their bitcoin securely and safely, as if they can not store bitcoin like this for themselves, they can not keep it safe in order to give it as inheritage asset to their children.

There are many ways to leave bitcoin to their children but above all, parents must create Bitcoin wallets properly, make backups rightly and know that they can recover their Bitcoin wallet from backup well, before thinking of how to leave wallet backups to their children.

Even take profit requires they must keep their bitcoin safely and not be stolen first. If they lost bitcoins to hackers, no more bitcoins for taking profit.

[nakamura12]

Sure everyone as the right to used there money the way the like, you can't stop that. People invested in bitcoin because of making profit not to continue holding without benefiting from the investment. Anyone have is on choice on what to used there profit for, some invest in Katherine assets and some used the money for luxuries things. Everyone have the freedom to spend anything they have because is there property and you can't control that. Bitcoin is not a small investment and when you achieve your goals definitely you need to make your self happy to buy things that will make you feel good.

It is true that we cannot stop people from doing what they want to do with their money because it is not your money to spend with although some people do make use of their money to the price of bitcoin even though it won't last for long but during that time some people may change their decision on what they want to do before or in short spreading FUD so that they can earn profit. Well anyway, it is also the same for them where they can't stop us from doing what we want with our own money.

[qwertyup23]

Sure everyone as the right to used there money the way the like, you can't stop that. People invested in bitcoin because of making profit not to continue holding without benefiting from the investment. Anyone have is on choice on what to used there profit for, some invest in Katherine assets and some used the money for luxuries things. Everyone have the freedom to spend anything they have because is there property and you can't control that. Bitcoin is not a small investment and when you achieve your goals definitely you need to make your self happy to buy things that will make you feel good.

It is true that we cannot stop people from doing what they want to do with their money because it is not your money to spend with although some people do make use of their money to the price of bitcoin even though it won't last for long but during that time some people may change their decision on what they want to do before or in short spreading FUD so that they can earn profit. Well anyway, it is also the same for them where they can't stop us from doing what we want with our own money.

At the end of the day, cryptocurrency investments are called "investments" for a reason- you cash out whenever you feel the need to use it.

The purpose of investments are to receive returns in a given period. Additionally, you can also consider them as storing money that could either increase or decrease in value depending on the market fluctuation of its price. But you should always treat your investments as stored cash whenever an emergency arises financially.

I mean, what's the point of still keeping your investments stored when you are experiencing financial and economic crisis at your end? That is the reason on why some people invest short-term in BTCs and take advantage of its volatility in the market.

[nakamura12]

At the end of the day, cryptocurrency investments are called "investments" for a reason- you cash out whenever you feel the need to use it.

The purpose of investments are to receive returns in a given period. Additionally, you can also consider them as storing money that could either increase or decrease in value depending on the market fluctuation of its price. But you should always treat your investments as stored cash whenever an emergency arises financially.

I mean, what's the point of still keeping your investments stored when you are experiencing financial and economic crisis at your end? That is the reason on why some people invest short-term in BTCs and take advantage of its volatility in the market.

Financial management is really important for everyone. Well, cryptocurreny isn't made for that purpose in the first place like for investment or storing money and yet, because of the people who use it that resulted for cryptocurreny as a means of investment for earning money or for storing money. As for the crisis situation, it really depends on the person either it's really important that they have no choice but to cash out their cryptocurreny for emergency and such.

[ndutndut]

Sure everyone as the right to used there money the way the like, you can't stop that. People invested in bitcoin because of making profit not to continue holding without benefiting from the investment. Anyone have is on choice on what to used there profit for, some invest in Katherine assets and some used the money for luxuries things. Everyone have the freedom to spend anything they have because is there property and you can't control that. Bitcoin is not a small investment and when you achieve your goals definitely you need to make your self happy to buy things that will make you feel good.

Ultimately, that's the way it is. Everyone has their own goals and objectives for investing in Bitcoin because they want to profit from their investment. Profiting from Bitcoin's rise is natural; both short-term and long-term investments are ultimately about profit.

Some traders don't have much money and can invest long-term, so they sell, but others also take advantage of every price drop and then buy back. I myself sometimes, when I've made a profit, sell some and save the rest so I can buy at a lower price. I also sometimes buy basic necessities to enjoy life. The mistake is selling Bitcoin after making a profit and then saving it in the bank or buying altcoins.

[Youngrebel]

It is called  profit. And there's also a capital which usually comes before the profit emerges. Some person's invest having plans to withdraw the profit within a stipulated time frame. This timing could be after each time the profit gets a to a certain amount or it could be when it's a set time so they have to withdraw these funds and leaving just the capital. I
t's just like a circle so the capital stays and grows again up again. This would grow until another time that the investor is ready or the set time is reached or or the time limit is reached for the investment.  The funds are usually pulled off mostly to use for other purpose.

[AYOBA]

Bitcoin reaching new ATH and with possibilities of multiple ATH to come again there will be some investors who will be taking profit from their bitcoin investment. This shouldn’t be surprising or be discouraged by anyone, we all have different strategies in this market, some are taking profit because they wanted just 2x from the market some more. For me bitcoin is still at an early/mid stage and will increase in price as the demand and adoption increases, but that doesn’t stops one from taking profit base on their strategy.

This is the right time for the investors and those that have been holding a bitcoin for a long time period to take their profits, as the bitcoin has reached an all-time high. Because I know some investors can get more than 2x from the market, but I know that they will be some of the investors who still cannot take their Bitcoin profits yet; rather, they will keep watching the market.

Honestly, the recent Bitcoin market has encouraged a lot of people; even those that didn’t have interest in investing in or holding Bitcoin before have definitely changed their mindset. This year I can see that Bitcoin has seriously reached a new ATH; this proves that the market can still do well and much better in the future.

[riyan96]

Chasing altcoins for quick gains is gambling. Altcoins aren’t real diversification. Holding some fiat for stability is smart.

[Samlucky O]

But the real question is why are you taking the profit:

Some are taking profit to actually invest into other assets which is what we call diversification or to build their businesses which is a great idea as profits from this business can still be used to invest into bitcoin yet again. But are you familiar with this investment or business, if not why take profit.

Some can take out profit to either help to Carter for their needs like building or buy themselves houses if what they have now is a rented property or to renovate the property if it is theirs, certainly there is nothing wrong with this.

If a person has invested in Bitcoin for Long and has a sizable portfolio but don't have other sources of income, such person can withdraw his profit and diversify into other business that will bring forth more money to still reinvest in Bitcoin or to be useds for other expenses. For the aspect of using Bitcoin profit to Carter for needs, Bitcoin should be an investment for future purpose and not for catering  of needs except there is no other way to siuce out income.

Why you shouldn’t take profit is:

1. Using the money to actually spend it on unnecessary luxuries (emphasis on unnecessary, as there is nothing bad to get some luxury for your self).

2. ⁠It is wrong to take profit and abandon it on fiat currency, that’s going from an asset with a store of value to one with devaluing characteristics.

3. ⁠Taking profit to actually invest into altcoins because there is predicted alt season coming with some Altcoins been rumored to be able to do 5x or more is a capital gambling which mostly results more into losses than profits.
 
4. ⁠lastly Buying Altcoins are not diversification means so do not take profit from bitcoin to buy Altcoins.

All the points you made here are a valid one, should be taken into consideration. I know it will sound funny to many but that is just exactly what people are doing. Especially the number 2 and 3, both has summarized 1-4. It's quite funny how people remove money from Bitcoin tyo invest in altcoin hoping to become rich from it. I just guess this are newbie or ignoramus.

[ThemePen]

Financial management is really important for everyone. Well, cryptocurreny isn't made for that purpose in the first place like for investment or storing money and yet, because of the people who use it that resulted for cryptocurreny as a means of investment for earning money or for storing money. As for the crisis situation, it really depends on the person either it's really important that they have no choice but to cash out their cryptocurreny for emergency and such.

You are right  how we use cryptocurrency has changed much. Even though it started as way to send digital money without banks people now mostly use it to invest or store money because they see its value grow and its outside normal banking systems. Someone can sell their crypto in tough situation for emergencies which is showing that it is both risky investment and something that can be quickly turned into cash if needed. This makes crypto important part of managing money today even with its ups and downs.

[CryptopreneurBrainboss]

But the real question is why are you taking the profit:

Some are taking profit to actually invest into other assets which is what we call diversification or to build their businesses which is a great idea as profits from this business can still be used to invest into bitcoin yet again. But are you familiar with this investment or business, if not why take profit.

You only realized profits from your investments when you take profits so I don't discourage taking profits but they should be done for the right reasons and not because you're scared of the market or wanting to invest into the latest and trending new shitcoin.

You'll be taking the wrong steps if all you care about is what's the most trending new crypto to buy. You can't replicate what happened with Bitcoin as no other crypto will have its level of success and trust from the community.

You investing should be done with wisdom and only take profits when you have realized a good return on investment and want to adventure into something solid as an alternative source of income. Don't sell to eat and lavish your wealth, that's a poor man mentality.

[Strongkored]

2. ⁠It is wrong to take profit and abandon it on fiat currency, that’s going from an asset with a store of value to one with devaluing characteristics.

I don't think this is a mistake, because in everyday life fiat is used more than Bitcoin, and when taking profits to save in fiat form is a way to secure cash so that it can be saved for emergencies, because no matter what, we need cash and the important thing is not to sell all our Bitcoin, but only a part of it so that we don't miss the train when Bitcoin rises, I mean wise in selling and also holding Bitcoin is part of being a long term holder.

[Awaklara]

4. ⁠lastly Buying Altcoins are not diversification means so do not take profit from bitcoin to buy Altcoins.

Some people must have done that. Selling some Bitcoin, or taking profits to switch to Altcoin. There is nothing wrong, everyone has a different approach to managing their investments. But there are also those who sell Altcoin to buy Bitcoin, I have done it. Because the Altcoin I had already given some profits, and I sold everything to get into Bitcoin. Taking profits is not a problem, they are using their own money with their own investment plan. When reaching a target, then do as desired. Whatever the ultimate goal of using that money, don’t forget to reinvest.

[reagansimms]

Here, we all know that every investor has different strategies and goals in investing, so if you ask why they take profits when the price reaches ATH, perhaps the very logical answer is that they want to secure profits in accordance with their goals and objectives when investing. Some investors sell Bitcoin when it reaches its highest price, wanting to increase their investment amount. They will wait for the price to correct and then buy again in larger quantities.

We cannot judge selling Bitcoin as a mistake even though its price will likely continue to soar as demand and adoption increase, because they have different ways and strategies in investing. The best advice for investors after taking profits (if they want to use it to buy the goods they want) is to leave some basic capital to continue investing when the price corrects, but if you sell Bitcoin to buy some other coins whose fundamentals are still weak (gambling in investment), in my opinion, that is a big mistake in decision making.

[Skjadoon]

Simply put, taking profits shouldn’t be overlooked or ignored, especially in trading. Missing out often stems from greed, incompetence, or carelessness in seizing opportunities once they appear.

[retreat]

I will not blame when someone sells the Bitcoins they have, because everyone has their own reasons when they sell the Bitcoins they have, maybe it's for personal needs, buying things they dream of, or for whatever reason. Moreover, it is Bitcoin that they have, so it is their own right to what they want to do with the Bitcoin, whether they want to hold it or sell it. But indeed it is quite unfortunate when someone sells the Bitcoins they have for trivial reasons, because if they can they should use other money that they are ready to use, but if they still want to sell the Bitcoins they have, let it be so, it's not our business, and we can't judge them either.

[Cryptmuster]

I will not blame when someone sells the Bitcoins they have, because everyone has their own reasons when they sell the Bitcoins they have, maybe it's for personal needs, buying things they dream of, or for whatever reason. Moreover, it is Bitcoin that they have, so it is their own right to what they want to do with the Bitcoin, whether they want to hold it or sell it. But indeed it is quite unfortunate when someone sells the Bitcoins they have for trivial reasons, because if they can they should use other money that they are ready to use, but if they still want to sell the Bitcoins they have, let it be so, it's not our business, and we can't judge them either.

It is a normal process in the market, as an asset simply changes hands, moving from one group of investors to another. Investors buy it at different levels and set their own goals. If an investor bought Bitcoin at 10000, aimed to make a 10x return, and sold at 100000, I do not see anything wrong with that. I understand that Bitcoin has much greater long term potential, and that it would be reasonable to hold it, but there are investors who are constantly searching for new assets and opportunities. And if they see profit, they take it, so that is normal.

After that, they will look for new opportunities where they might earn faster, because Bitcoin is becoming a heavier asset, and to make another 10x, it would have to reach a million. That could take quite a long time, and they might be able to rotate that money elsewhere and get quicker profits. So, everyone has their own strategy, and that is perfectly fine.

[Promocodeudo]

I will not blame when someone sells the Bitcoins they have, because everyone has their own reasons when they sell the Bitcoins they have, maybe it's for personal needs, buying things they dream of, or for whatever reason. Moreover, it is Bitcoin that they have, so it is their own right to what they want to do with the Bitcoin, whether they want to hold it or sell it. But indeed it is quite unfortunate when someone sells the Bitcoins they have for trivial reasons, because if they can they should use other money that they are ready to use, but if they still want to sell the Bitcoins they have, let it be so, it's not our business, and we can't judge them either.

Have you seen the reason why it is adviseable for individual investor to have emergency funds while investing in Bitcoin, if one has emergency funds, why will such person what to sell his Bitcoin prematurely for the reason of solving immediate problems, yea no doubt we are entitled to make decisions regarding to our Bitcoin hodlings, there no issues about that after all Bitcoin investment is a personal thing but Bitcoin investment has a concept which has to be followed, I know that what works for Mr A may not work for Mr B but in all it is also adviseable to invest with the amount you can afford without being pressured to sell at anytime, Bitcoin investment has broadened the thinking faculty of many people on funds management, I agree that we are not meant to decide for any or blame them for any decision theirs but every investment has a way they are been followed.

[Porfirii]

I would like to bring a new idea to this topic. I've talked about this with many people before and I've seen that there are many different points of view. Many argue that thanks to debt you can leverage and invest more, so you can opt for a greater wealth in the future, and they are right, but when it comes to Bitcoin, I don't think this is the best approach since the beginning.

I mean: imagine that you own nothing but BTC, and start DCAing while you pay your mortgage or whatever. After a new ATH, you feel tempted to take some profits and liquidate a part of the mortgage, but you start reading posts saying that one should never sell, or you simply feel greedy, and you continue accumulating while you stay in debt.

If innovators back in 2011 or 2013 sold their Bitcoins to pay for their houses, for example, or for two pizzas, one might think that now they would be pulling their hair out. But if that helped them to continue accumulating with the peace of mind of knowing that they can afford to lose it, I think that that was the really winning strategy.