One reason why you shouldn’t sell Bitcoin too early

[Humblevirus]

That means they don’t have believe in bitcoin when they invested in it, if they had confidence in bitcoin, they won’t sell because they going to have the believe that bitcoin will survive any challenges that comes it’s way.

Most of the early investors were not necessarily people who believed that Bitcoin would reach the price level it has reached today. Some people simply invested, and they were lucky not to sell too early because they could take the high risk. That is why they are still holding on to their Bitcoin up to now.We all know that not everyone can take such high risks. When the price of Bitcoin was rising rapidly some years back, many people believed that it might eventually come down because they had never experienced any kind of investment that had given them that level of profit. So, selling their Bitcoin when the price increased to a certain level would have seemed like a smart move to them.

Even most of us who are likely to blame those who sold their Bitcoin early might still do the same thing by selling our own Bitcoin. It is not everyone who has the courage to see a large amount of money in their wallet and leave it untouched. Their minds might tell them that the price could continue to increase, but they might also fear that it could suddenly decrease.

[PhantomBoost]

No one can predict the future, let alone market trends. In my opinion,we need to set a goal—a target based on the purchase price, say a 20% gain—and sell once that is reached, regardless of market conditions.

I agree with you that no one can predict the future of the market. So it is definitely good to have a clear plan for yourself. However, I think that selling only after a 20% profit may not be the right decision in all situations. Because the investment objective is not the same for everyone. Some may buy for short-term profit, while others may buy to create wealth in the long term.
What is important to me is what amount of money we are investing. If it is excess money for our needs and our cash flow and emergency fund are in order, then there may be no need to sell repeatedly for temporary profit. Rather, it is more important to stick to your long-term plan. In the end, good investment does not depend only on when we sell, but on how accurately we can decide in accordance with our financial situation.

I understand your goal of setting a 20% profit. However, I would like to know one thing, if someone is investing with the goal of holding Bitcoin for the long term and has a solid cash flow and emergency fund, wouldn't selling it just for a 20% profit limit their long-term wealth creation plans?

A 20% target makes sense for some people but long term holders might have a different plan. the important part is knowing why youre holding bitcoin and when you might actually need the money.

[Bright0515]

The problem with a lot of investors is just impatience and also ignorance, a lot of people that invested in Bitcoin years ago but at some point they ended up selling their coins because they assumed that Bitcoin would not really get to the point that it's in currently and they are all regretting it now. Till date even with the slightest change in the price of Bitcoin a lot of people would be moved to sell their coins.

[Youngrebel]

The problem with a lot of investors is just impatience and also ignorance, a lot of people that invested in Bitcoin years ago but at some point they ended up selling their coins because they assumed that Bitcoin would not really get to the point that it's in currently and they are all regretting it now. Till date even with the slightest change in the price of Bitcoin a lot of people would be moved to sell their coins.

Fact and you just made a valid point, I know a lot of people who today are regretting why they sold their coins years just because of fear not that they needed the money but they were scared of only God knows what they were scared of and today the regret their decision and I learnt from there and I don’t think I will ever be impatient when it comes to Bitcoin am ready to leave my coin fit as many years as I like as long as am not in need of money either the market goes up or down i dont see any reason to be scared any longer, I have seeing the reality in bitcoin long long ago before now.