Bitcoin at $120k – Take Profits or Still HODL?

[Kelvinid]

So BTC finally touches $120,000. Back in 2017, we were crying at $20k, in 2021 we were shocked at $69k… and now $120k feels almost “normal.”

I’m seeing memes everywhere about whether to sell now or wait for $250k+. Some people say this is the time to secure profits, others believe this is just the beginning of another leg up.

Personally, I think this is the perfect moment for memes like:

“Is $120k the new $20k?”
“Selling at $120k vs HODLing for $1M”
“It’s been 84 years…” waiting for ATHs

Serious question though: Do you see $120k as a good profit-taking zone, or is it still just part of the climb?

[aphelio_wane]

I think it’s way more likely that Bitcoin pumps first and then the momentum spills over into alts. An altseason without any futher movement from BTC doesn’t seem realistic to me. That’s why I see 120K as the point where things could just start to take off across the board, and the first to pump is BTC.

[Woodie]

October is a bullish month, if you chose to sell now then the next time you might be buying  discounted coins will probably be around December or February.. especially around the Chinese new year when prices seem to dip slightly... But because markets still have the momentum to make you highs, I would say hold a little longer then sell, after all the name of the game is "Buy low, Sell High" basic math that helps to maximise on profits.

[arzuo]

I am not follow with future target

I just feel happy to sold it when (Bull run) halving end and price going to high and  170 to 700% above of my buying price.
And again buy (Bear market) after one years of ( bullrun)

More value need to more wait and you going to old day by day so my method is best for me.
Which apply from 2016

[Pandorak]

It all comes down to each individual's strategy, because we realize that not everyone is an investor, many of us are traders, seeking profits from price differences. However, i personally prefer HODL because I focus on the long term, even when i don't think about selling at all, i'm instead thinking about how to accumulate more Bitcoin for the future. One way to do this is by increasing my income from my salary/business so that when my income increases, i will have more discretionary funds that i can use to maximize my Bitcoin investment.

In truth, those who think about selling are nothing more than traders concerned only with short term profits. This carries very high risks and often results in missing the opportunity to accumulate Bitcoin.

[Slow death]

The price has reached this point many times and then fallen a lot again, so thinking that $120,000 is a point where there will be a big continuation of the rise in my opinion may be a bit exaggerated, for me if the price stays above $125,000, then it will start to rise a lot, as long as there are no external influences, just today I read an article that talked about price prediction, funny because in these last weeks I saw analysts saying that the price would fall a lot to $90,000, today they have already changed their minds:

“Hold $118k from here, and new all-time highs are next. Uptober is here.”

https://cointelegraph.com/news/bitcoin-bulls-charge-at-120k-traders-expecting-new-all-time-high

These guys make me laugh. If the price drops a lot this week, they've come back with astonishing predictions that the price will correct by X percentage. I honestly don't believe these predictions. For me, if the price is above $125,000, then it will have a greater chance of rising a lot. If it can't rise above $125,000, then it will fall back to $109,000.

[tiCeR]

So BTC finally touches $120,000. Back in 2017, we were crying at $20k, in 2021 we were shocked at $69k… and now $120k feels almost “normal.”

I’m seeing memes everywhere about whether to sell now or wait for $250k+. Some people say this is the time to secure profits, others believe this is just the beginning of another leg up.

Personally, I think this is the perfect moment for memes like:

“Is $120k the new $20k?”
“Selling at $120k vs HODLing for $1M”
“It’s been 84 years…” waiting for ATHs

Serious question though: Do you see $120k as a good profit-taking zone, or is it still just part of the climb?

How in the world would anyone here be able to answer your question seriously? If you got into BTC at $119k, I suggest you immediately take profits. ^sarcasm

If you bought 100 BTC at $1 each, perhaps you should take some off the table. It boils down to whether or not you can and want to afford to hold or not. If you are a multimillionaire, you can afford to not sell your 100 BTC even if you bought them for $1 a piece. Whenever I see those questions being asked here, I wonder whether you really miss the obvious fact that nobody could answer it with seriousness considering the input you provided.

Talking about new floors, I don't know whether it is $100k or soon $120k, but I could at least say with high confidence that we won't see $20k again.

Selling BTC and taking profits as you call it, can simultaneously mean you sell potential value and actually create additional opportunity cost for your wealth portfolio if you are either putting cash under your pillow, suffering from inflation or if you shift it into another asset, which itself doesn't comes without risk.   

[Alphakilo]

So BTC finally touches $120,000. Back in 2017, we were crying at $20k, in 2021 we were shocked at $69k… and now $120k feels almost “normal.”

I’m seeing memes everywhere about whether to sell now or wait for $250k+. Some people say this is the time to secure profits, others believe this is just the beginning of another leg up.

Personally, I think this is the perfect moment for memes like:

“Is $120k the new $20k?”
“Selling at $120k vs HODLing for $1M”
“It’s been 84 years…” waiting for ATHs

Serious question though: Do you see $120k as a good profit-taking zone, or is it still just part of the climb?

Any investor can decide to take profit at anytime it feels convenient but the main thing is to take profit when there is assurance of enough profit to be taken. 
An investor who just invested in Bitcoin a year ago shouldn't bother about taking profit because the price is at $120k but if they had held that investment for more than a decade or up to a decade, they can take profit and reinvest so as to keep funds in circulation.

[mindrust]

It mostly depends on the portfolio size doesn't it? I mean if your bitcoin asset portfolio size is a few thousand bucks, it doesn't make much sense to take profits unless you consider buying a new iphone a win and I can't judge you if you think so. Most people get in to crypto to buy a house, buy a lambo, buy a helicopter etc... If you have no problems with settling for a toyota that's also fine. It surely beats public transport. Toyota Camry's are amazing cars btw. Damn Japanese really know their shit. No European or Murican car can compete with this insane engineering.

You know there are people at the moment buying btc actually because that's how the profits takers can sell theirs.

But now the BIG question is, we knoe the profit takers are selling their coins to take profits...

Then those who buy now, Why are they buying it?

Think about it.

[Ndabagi01]

Serious question though: Do you see $120k as a good profit-taking zone, or is it still just part of the climb?

I see it as a good profit taking zone. You don’t need to take all of the profits of your bitcoin at $120K, you can take partial and prepare yourself better for what is yet to come. If the anticipated outcome of the bull run is yet to happen, one can still be happy they took some profits and are now going to hold the rest for another bull cycle. $120K is a very strong zone we will be witnessing henceforth, so the market from the last ATH to what we have now has done satisfactorily well to say we had a good bull run. I see any other pump coming after this ATH we are now as a good course of action for all holders to enjoy more the benefit of being patient.

[Z390]

What are you waiting for all this while? 120k is a good price to start taking profit, even if this last move is 135k target it is still not guaranteed, now many people will probably believe that Bitcoin will keep going higher from here since we are in uptober like they call it, many will be in shocked on the mid term, the great Bitcoin pump would have been over by then.
It is even more funny how many influencers are shanting for 200k and one million as the top for this cycle, I have seen this before, and they are playing the same trick on investors once again, the bear market will come in slowly and it will catch many unexpectedly.

[CryptoCheckCheck]

Split your position, sell the half, keep the USDT, wait for drop and buy more with the USDT.

[Ivystar5]

For some like me just getting to meet my first bull season, I have to say that buying is my only thing for now, don't know the word sell untill I'm 4 years complete on buying and the next bull run can now begin to understand what iteans to sell or take profit. bitcoin is just getting started in my opinion though, maybe as someone said at this point altcoins season should have been expected but seems none is even happening so if you are afraid play safe of not going up all the way.

[coolcoinz]

Why should I go crazy about the price? I've seen 120k a couple times this year. Yes in July I was very happy, but then we moved higher twice in August and this is the fourth time.
I appreciate the price, it gives me confidence about the future of bitcoin, seeing it climb makes me smile, but I'm not going to start spending now because I do it when the need comes.

Honestly, there's no difference between selling 0.01BTC at 118k and 121k. First case you get 1,18K USD, or you wait and get 1.21. When you operate on day to day basis to buy stuff with bitcoin, it doesn't matter if the price is 115k, 119k, or 122k because the difference is so small. 

It's the same with profit. When you've held for a few cycles and your profit is more than 1000x, it doesn't matter if you get 1001x or 999x.

Therefore, I take very small profit every cycle but it's not triggered by a 5% move like this one. When I want to spend btc on something, it doesn't matter if the price is 115k or 120k. What matters is the general uptrend. For instance, I wouldn't spend any bitcoin if it recently fell by 30% - that would feel like throwing my money out, but I wouldn't mind to spend some after a 30% price increase.

[Ronsbit]

My expectations are very high on Bitcoin going bullish this season and it is what I have long been waiting for I will definitely add more to my bag because I know a new all time high is imminent when looking at the bounce back. Bitcoin price has been down for quite some time now which is as a result of  some factors surrounding it but however it was able to gain momentum for a strong and bullish comeback. For this reasons I will hodle and see to the end of it all. My long term plans have been activated. I am bullish on Bitcoin.

[Hatchy]

So BTC finally touches $120,000. Back in 2017, we were crying at $20k, in 2021 we were shocked at $69k… and now $120k feels almost “normal.”

Do you not keep updated with the market prices? $120k has been a major resistance since August. Bitcoin has failed to break past it several times and we are hoping it does soon and continue it's rally upwards. Right now the main reason for these sudden pumps is probably because of the USD weaken. Alot of assets including gold has been bullish for quite some times with gold creating more ATh. Bitcoin, Eth follows.

I'm expecting price to continue like this for some time. Dollar has been bearish for quite some time now. But let's be realistic, $200k is archivable but now? It's not reasonable as bitcoin is still trying to push past it's current high.. and lastly, selling any of your BTC might be the worst idea. You might wake up tomorrow and be shocked where price had gotten to..

[Ziskinberg]

I do see it as a profit-taking zone already, especially because I started accumulating bitcoin when the price was still below $100k. However, for those who have just bought bitcoin when it’s already $100k above, I don’t think this is the best time to sell and take profits. The following months will still be bullish if we trace back history, particularly by December, so it’s better to wait for a while before deciding to sell a portion of your bitcoin, and eventually make some profits before the market turns into bearish again.

Furthermore, if you are into bitcoin for your retirement plan, then don’t sell this time but continue buying and holding instead for future massive profits.

[HONDACD125]

Serious question though: Do you see $120k as a good profit-taking zone, or is it still just part of the climb?

I personally believe that we should always prepare for whatever could happen next. Those who have been holding and didn't sell even when Bitcoin hit $123k, I think it would be wise for them to at least take some profit at this price point, and then keep holding the rest if they believe this could be the beginning of a new price hike, which is possible because Bitcoin is known for its surprises, and we have seen a lot of them in this cycle alone. First, it broke its previous all-time high even before the halving, and then the $123k mark.

That's why, I think the current zone is perfect for taking partial profits. I'm not holding a lot of Bitcoin, but if I was, and I had bought them at a very low price, like something below $40k or something, I would definitely use this opportunity and take some profit. If market drops from here and doesn't mark another all-time high, there will only be regrets.

[Hyphen(-)]

Serious question though: Do you see $120k as a good profit-taking zone, or is it still just part of the climb?

It all depends on your target and you goal in Bitcoin investment and the price you invest in Bitcoin. It also depend on the type of investor you, are you a short time investor that settles for little profit if like 10-15% or a long term holder that have a long goal about his investment and will stick his/her plan no matter the price Bitcoin hits since they are just taking it as investment and they might have goal of holding for more than next five years to come.

Therefore, don’t follow other people’s plans, work with what you agreed with because you have no one to blame in you decision. If you want to take profit and wait for little correction before investing again it’s fine, but put it at the back of your mind that you might lose the opportunity to invest if the price skyrocketed above our expectations which is very possible.

[Stalker22]

"Is $120k the new $20k?" Hell yes, it is!  It means the goalposts have moved, and the hodlers who have survived multiple cycles have an entirely new concept of "cheap."

What I think?  Taking some profit never hurt anyone.  If you are holding a lot, sell off a bit.  Just enough to soften the blow if things go south, but not so much that youll kick yourself if it skyrockets to $200k next month.