One reason why you shouldn’t sell Bitcoin too early

[Versatile_choice]

Waiting on the right moment isn't a guess work like some people think, the right time to sell is when you have gotten up to your targeted profit. Not having a specific target that you plan on selling your Bitcoin means that you are going to settle for anything or sell your coins at any phase the market is in including the dip which is a bad idea. Basically, investing in Bitcoin is for a long term, this is the more reason why it's important to be patient.

You're right, achieving our target is one thing. But sometimes the market may not be in a good shape where you will want to sell, sometimes investors might reach their target and start waiting for the price to goes up before they can sell.

So it's very difficult to predict the right time to sell our investment, so the thing there is this; we should try and reach our investment target first then after that we can start figuring out when we are in profit so we can sell rather than trying to predict when we are going to sell our investment.

[Rockstarguy]

Sure, When you sell your Bitcoin early and later the price increases a lot, you will start to regret why you sell so easily, many people are scared to lose all there funds when they invest in bitcoin, and that is what will always make them feel otherwise to sell it immediately when they get some profit, and later when he get higher, they start to think they should have not sell it at that time. That is why is always better we should used funds that we can risk and can lose it. When you invest money that you can afford to lose, he won’t make you sell your coins easily, because if the funds go, you will won’t feel any worries about it. And price can be increased gradually and later you get a better profit.

Using the amount of money that you can afford to lose is not a guarantee that one will never sell their bitcoin. There are different reasons why people sell their bitcoin, and one of the most common reasons is volatility and the expectation of making a profit from an investment in a given time. Bitcoin volatility needs to be understood, as the market will always increase or fall, and this can take place at any time. One needs to build their mindset and never see the dip as a threat to lose. It is always good to hodl Bitcoin without expecting when to make a profit from the market.

[uche6215]

There was a tweet from a Twitter user who regretted selling his Bitcoin too early. And perhaps he is one of the Bitcoin OG’s who once traded Bitcoin at a very low price. Greg Schoen is someone who has said that he wishes he still held onto the several thousand Bitcoin he once owned. But he can only lament his mistake for selling them too soon, where at the time he regretted selling his Bitcoin at $0.30. And he regretted it because Bitcoin subsequently rose to $8 per coin. I personally think he still feels regret today considering that Bitcoin now commands a truly fantastic price. And it seems he still can’t let it go given that he was still tweeting about it in 2022 even though he had turned that old tweet into an NFT sale by then.

(Source)

The halving cycle is still a long way off. And around each halving period Bitcoin offers the potential for profit because Bitcoin is becoming increasingly scarce and even demand for it is increasing across various sectors. Just because Bitcoin’s price has dropped slightly doesn’t mean you should sell it right away. You just need to be patient so you won’t regret it later. If you manage to hold out for a long time then you’ll reap the rewards of your patience all this time. Do you still think you’ll sell your Bitcoin at a low price? And aren’t you convinced that Bitcoin’s price will be very profitable for you? Please share your thoughts as well.

It is important to note why you hold Bitcoin in the first place, if you're holding because you strongly believe the utility and adoption of Bitcoin by many users and various institutions will only expand over time, you wouldn't be affected in any way by its price fluctuations which could ultimately make you panic sell like Greg Schoen did and later regret.

[JoyceBTC]

It's really a thing to regret selling at that time, despite making profit at the time of sale, but compared to the price of bitcoin right now, he must really be filled with regret for selling too early. I really will not blame him for selling at that time,  because I don't know how long he has hold the bitcoin and also how much he bought it, but he would have made more profit now. I have always advocated that the best way to make good profit in bitcoin investment is to accumulate and hold for a long time and hopefully you will definitely make good profit. In his case I believe that he has accumulated it for a long time and he thinks it's the right time for him to sell, but he later regretted based on the price of bitcoin right now.

Sure, When you sell your Bitcoin early and later the price increases a lot, you will start to regret why you sell so easily, many people are scared to lose all there funds when they invest in bitcoin, and that is what will always make them feel otherwise to sell it immediately when they get some profit, and later when he get higher, they start to think they should have not sell it at that time. That is why is always better we should used funds that we can risk and can lose it. When you invest money that you can afford to lose, he won’t make you sell your coins easily, because if the funds go, you will won’t feel any worries about it. And price can be increased gradually and later you get a better profit.

It is good to use funds you can afford to loose to invest but to be honest the issue with some investors is lack of patience. There are some investors who still use what they can afford to loose and still end up selling off because they lack that patience to wait, despite knowing how the market works, they are still scared of losing any funds, still act emotionally and sell off. Secondly in most cases it is due to greediness, the initial aim was longterm and in the process of making any little profit, they quickly sell to avoid the volatility affecting their funds plus profit. So in all, investing with what you can afford to loose is not a guarantee that investors won’t still sell off Bitcoin during volatility.

[Obulis]

 That's serious! 1700 Bitcoin now is up to $140,000,000 but back then at $0.3 it was $510. What exactly led Greg Schoen to make such mistake?  It could be a total unbelieve on Bitcoin because saying that it's because of his financial situation sounds somehow unrealistic. However, back then there was obvious little knowledge and orientation about handling Bitcoin asset. Like the idea of "don't sell Bitcoin too soon" is not without the hope or believe that Bitcoin will achieve more but back then many people don't actually have this believe or mindset, they never saw Bitcoin as an asset!

Off course, right now some are still doing the same mistake of selling Bitcoin too soon but that is probably with different mindset different from people who sold years ago under a total unseen Bitcoin future.

Altogether, it remains a regret, how I wish Greg Schoen had the idea or mindset of leaving some percentage of his Bitcoin even if just 10 percent, which will amount to 170 Bitcoin! Just like not selling too soon, it makes sense for a Bitcoin holder/investor not to sell all their holding.

[The Cryptovator]

Sometimes you have to regret why you haven’t sold, and sometimes you have to regret why you have sold. It’s a matter of time, and it’s a matter of your strategy as well. For example, if I had sold my holdings at the top, then when Bitcoin dumped and Bitcoin became half of ATH, then I would have double Bitcoin than my previous holdings. Now I regret why I haven’t sold at the ATH.

Holding Bitcoin doesn’t mean having to hold Bitcoin for a lifetime. We have to make money from Bitcoin and have to use it in real life. If we can’t use Bitcoin in our lives, then it’s useless after my death. I convinced myself that Bitcoin is very profitable, but I have to make the decision at the right time. Not just hold the lifetime and watch the pump and dump.

[serjent05]

Sometimes you have to regret why you haven’t sold, and sometimes you have to regret why you have sold. It’s a matter of time, and it’s a matter of your strategy as well. For example, if I had sold my holdings at the top, then when Bitcoin dumped and Bitcoin became half of ATH, then I would have double Bitcoin than my previous holdings. Now I regret why I haven’t sold at the ATH.

Those who have no contentment will always regret what they did when something good happened if they do the other thing.  What matters here is that we should be content and, at the same time, plan ahead on how we can make more out of our capital (in terms of Bitcoin investment).  Regretting about the thing we had done will not give us anything, instead we should learn from our previous action and act accordingly on what we had learned.

Holding Bitcoin doesn’t mean having to hold Bitcoin for a lifetime. We have to make money from Bitcoin and have to use it in real life. If we can’t use Bitcoin in our lives, then it’s useless after my death. I convinced myself that Bitcoin is very profitable, but I have to make the decision at the right time. Not just hold the lifetime and watch the pump and dump.

I strongly agree, after all we cannot see our profit if we do not cash out our holdings.

[ruykeri]

Waiting on the right moment isn't a guess work like some people think, the right time to sell is when you have gotten up to your targeted profit. Not having a specific target that you plan on selling your Bitcoin means that you are going to settle for anything or sell your coins at any phase the market is in including the dip which is a bad idea. Basically, investing in Bitcoin is for a long term, this is the more reason why it's important to be patient.

You're right, achieving our target is one thing. But sometimes the market may not be in a good shape where you will want to sell, sometimes investors might reach their target and start waiting for the price to goes up before they can sell.

So it's very difficult to predict the right time to sell our investment, so the thing there is this; we should try and reach our investment target first then after that we can start figuring out when we are in profit so we can sell rather than trying to predict when we are going to sell our investment.

What do you mean by target here ?. If the target is to hold Bitcoin at an amount that is overaccumulation level, where holding Bitcoin will make your financial capacity stronger, then fixing such a target may be reasonable. But in the short term, any target for Bitcoin can cause losses. Because Bitcoin is very volatile in the short term. And a person cannot just hold Bitcoin for the rest of his life. If he cannot use this Bitcoin in the future, then there is no logical reason to hold Bitcoin. Therefore, after holding Bitcoin at a strong level, it can be sold sustainably and life can be managed. Instead of deciding to sell Bitcoin based  on profit, we should sell Bitcoin after we have created financial security.

[bitcoin-shark]

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.

[Makus]

One thing I will always appreciate about Bitcoin is that it has long-term benefits for investors who are willing to hold, as it keeps appreciating over time. Bitcoin is not comparable to other assets that remain at a spot; instead it value increases with respect to time once we hold it, and the longer we do this, the better it becomes for us. Those who sold earlier have always regretted making such a decision because they couldn't afford to wait longer by holding.

Regretting after selling bitcoin is one of the major emotional distress people find themselves in and what differentiates them from people arr patient enough to hodl even during the dip is disicpline, alongside knowledge as well because most beginners sell ignorantly not knowing how the market operates. Another thing that causes this is when investors don't have a target, they will sell at any point as long they have made a little profit cutting short what they should have been able to get from it if they waited a while longer. This is the reason why investing in bitcoin is not for eveyone because not everyone has the mental disicpline to be patient enough to wait for a long period of time.

[RockBell]

It is good to use funds you can afford to loose to invest but to be honest the issue with some investors is lack of patience. There are some investors who still use what they can afford to loose and still end up selling off because they lack that patience to wait, despite knowing how the market works, they are still scared of losing any funds, still act emotionally and sell off. Secondly in most cases it is due to greediness, the initial aim was longterm and in the process of making any little profit, they quickly sell to avoid the volatility affecting their funds plus profit. So in all, investing with what you can afford to loose is not a guarantee that investors won’t still sell off Bitcoin during volatility.

It is not easy to have patience when it comes to investing in Bitcoin. From the beginning, you have to get used to it, especially if you want to invest using the DCA method, and using what you can afford is not just a word because you have to be ready for you to be able get used to putting your money somewhere, and aside from that, when you attach other plans to it, like having emergency funds might even help anyone to have more patience because, if you need money, you can fall back on your emergency funds.

And when all these things are in place, you will not need to want to sell, but if you don't have anything to fall back on, then you will run out of patience, and then you won't have a choice but to sell. These are all part of the preparations, and you see people who want to make quick profit, and that is why the word patience needs to be overemphasized because you don't have a choice but to be patient.

[Soldroplet]

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?

[Sunshine1525]

Regretting after selling bitcoin is one of the major emotional distress people find themselves in and what differentiates them from people arr patient enough to hodl even during the dip is disicpline, alongside knowledge as well because most beginners sell ignorantly not knowing how the market operates. Another thing that causes this is when investors don't have a target, they will sell at any point as long they have made a little profit cutting short what they should have been able to get from it if they waited a while longer. This is the reason why investing in bitcoin is not for eveyone because not everyone has the mental disicpline to be patient enough to wait for a long period of time.

After selling too early you'll then realise that what you initially thought was profits is loss in disguise when Bitcoin moves upwards or recovers from a drop rather, a coin with the ability to recover after lose requires patience and supposed to be held longer but people without conviction rush to take profits whenever it drops.

Bitcoin is not something that should be held for few months or a year then take profits after making little gains. People should learn to be more futuristic about Bitcoin cause the longer it's held the better the chances of getting more profits.

[Adiljutt156]

You're right, achieving our target is one thing. But sometimes the market may not be in a good shape where you will want to sell, sometimes investors might reach their target and start waiting for the price to goes up before they can sell.

So it's very difficult to predict the right time to sell our investment, so the thing there is this; we should try and reach our investment target first then after that we can start figuring out when we are in profit so we can sell rather than trying to predict when we are going to sell our investment.

Achieving targets is always important because while things are going as needed, it helps enough to have peace of mind and think better for future people who were always not well aware of the real potential of Bitcoin. Just because of this, they set targets that never allow them to hold this for a long time, but now many are feeling regret while many are still enjoying it, but they never talk about this due to their own privacy.

Predictions are always difficult, difficult with no one having perfect things about how it's going to end, especially in the case of Bitcoin, which mostly are now feeling regret because they sold their huge stocks without thinking or having any good strategy, but now it's still good, and they have time to stay on with this because Bitcoin can go too far, but now it needs good funds for accumulation, which always increases the regret of people and their wrong decisions.

[Juicyhome]

The post shows that he did not plan to hold for long because he is expressing regrets for selling at $0.3 and not wait till it got to $8. If he had believed in Bitcoin, he would have held some of those 1,700BTC, lets say held 50% and wait to see where Bitcoin gets to. Imagine holding even 10% of those coins till now, that would have made him a millionaire. This is why I strongly recommend people holding some of their coins and never running out of Bitcoin.

For him to believe and buy bitcoin at that time ,show that he believed  in bitcoin investment but he lack the vision,  then bitcoin was under pressure from every corner,  the criticism was very high and people see those that bought ad fools for believing digital coin will ever make them rich. It was that bad at the beginning of bitcoin,  no one saw it coming.

Everyone that sold bitcoin at any rate then is because they never thought bitcoin will ever survive till this day, if he knew bitc will still stay till date he won't had sold it all, I dont blame him because we're also selling out bitcoin today, in the next 20 years we would regret ever selling it today. It's just matter of time.

[fredericktaylor]

It's really a thing to regret selling at that time, despite making profit at the time of sale, but compared to the price of bitcoin right now, he must really be filled with regret for selling too early. I really will not blame him for selling at that time,  because I don't know how long he has hold the bitcoin and also how much he bought it, but he would have made more profit now. I have always advocated that the best way to make good profit in bitcoin investment is to accumulate and hold for a long time and hopefully you will definitely make good profit. In his case I believe that he has accumulated it for a long time and he thinks it's the right time for him to sell, but he later regretted based on the price of bitcoin right now.

Sure, When you sell your Bitcoin early and later the price increases a lot, you will start to regret why you sell so easily, many people are scared to lose all there funds when they invest in bitcoin, and that is what will always make them feel otherwise to sell it immediately when they get some profit, and later when he get higher, they start to think they should have not sell it at that time. That is why is always better we should used funds that we can risk and can lose it. When you invest money that you can afford to lose, he won’t make you sell your coins easily, because if the funds go, you will won’t feel any worries about it. And price can be increased gradually and later you get a better profit.

It is good to use funds you can afford to loose to invest but to be honest the issue with some investors is lack of patience. There are some investors who still use what they can afford to loose and still end up selling off because they lack that patience to wait, despite knowing how the market works, they are still scared of losing any funds, still act emotionally and sell off. Secondly in most cases it is due to greediness, the initial aim was longterm and in the process of making any little profit, they quickly sell to avoid the volatility affecting their funds plus profit. So in all, investing with what you can afford to loose is not a guarantee that investors won’t still sell off Bitcoin during volatility.

That is why the investor lack of knowledge about Bitcoin and his emotional decisions or greed cannot allow him to manage his investment for a long time and hold Bitcoin for a long time with patience because lack of knowledge quickly scares him, as a result of which he cannot invest or hold Bitcoin for a long time with confidence. This is very clear because emotional decisions or greed cause people to suffer losses.

Therefore, to invest consistently and hold investments for a long time, an investor must gain specific knowledge about market volatility and control his emotions or greed and invest within his means with discretionary money. As a result, he can invest consistently and hold Bitcoin for a long time with confidence.

[Rabata]

There are many people in history who initially had a huge amount of Bitcoin but could not hold. They sold their huge amount of Bitcoin for just a few dollars. Those who were in such a situation are surely still regretting that mistake. Although some will not admit their own mistake because they could not imagine so much about the future of Bitcoin at that time. However, even if they believe it now, it may not be possible to own that amount of Bitcoin.

A person named Jered Kenna, who owned about 30,000 Bitcoins in 2010, later sold it for $0.20 and earned $200. Certainly, the money was a lot at that time, but according to the current price, the value of that Bitcoin is now much higher. He may not be able to forget such a big regret.
https://www.binance.com/en/square/post/253452

Erik Finman owned 1000 Bitcoins in 2011, but he never realized that the price of Bitcoin would rise so quickly. Maybe he sold his investment later, which is why many people now mention his name in regretting for selling bitcoin. There are many more people who were lucky at one point, but later could not bring that luck to them. Regardless of the price of Bitcoin, those who decide to sell after holding Bitcoin today may regret it later. That is why it is best to hold Bitcoin until the goal is met.
https://www.theguardian.com/technology/2018/jun/13/meet-erik-finman-the-teenage-bitcoin-millionaire

[Stable090]

The post shows that he did not plan to hold for long because he is expressing regrets for selling at $0.3 and not wait till it got to $8. If he had believed in Bitcoin, he would have held some of those 1,700BTC, lets say held 50% and wait to see where Bitcoin gets to. Imagine holding even 10% of those coins till now, that would have made him a millionaire. This is why I strongly recommend people holding some of their coins and never running out of Bitcoin.

For him to believe and buy bitcoin at that time ,show that he believed  in bitcoin investment but he lack the vision,  then bitcoin was under pressure from every corner,  the criticism was very high and people see those that bought ad fools for believing digital coin will ever make them rich. It was that bad at the beginning of bitcoin,  no one saw it coming.

Since he didn’t hold, that means he didn’t have confidence in bitcoin. Some people bought bitcoin with the intention on making profits after some pump, they do sell back, they didn’t believe bitcoin will become what it is today. Just because someone bought and sold back bitcoin when the price was low doesn’t mean the person believed in bitcoin. People that have confidence in bitcoin are people that bought when the price was lower, and they the are still holding up till now, or you are buying now, and you will be holding it for the future.

Everyone that sold bitcoin at any rate then is because they never thought bitcoin will ever survive till this day,

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.

[Hyphen(-)]

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.

If that is cool by you, then go ahead. We all have our ways of understanding Bitcoin and how we can resist investment for long. Some investors have been holding Bitcoin for almost a decade now, they never knew that the price will go this far, and some of them are still holding. And with the limited Bitcoin supply, I think if one decide to ignore the current price and hold for long, it will yield a very good result in the future because Bitcoin future looks bright.

[hafiztalha]

Sometimes you have to regret why you haven’t sold, and sometimes you have to regret why you have sold. It’s a matter of time, and it’s a matter of your strategy as well. For example, if I had sold my holdings at the top, then when Bitcoin dumped and Bitcoin became half of ATH, then I would have double Bitcoin than my previous holdings. Now I regret why I haven’t sold at the ATH.

Holding Bitcoin doesn’t mean having to hold Bitcoin for a lifetime. We have to make money from Bitcoin and have to use it in real life. If we can’t use Bitcoin in our lives, then it’s useless after my death. I convinced myself that Bitcoin is very profitable, but I have to make the decision at the right time. Not just hold the lifetime and watch the pump and dump.

It's all part of life because thing have never been easily manageable. Bitcoin brings revolutionary changes into millions' lives because it's always done things that were never expected, but still many are having regrets because they were not able to stick with their best due to emotions or wrong decisions. Your last point of view is impressive because now I am also bringing changes into my strategy due to its potential and its use.

I surely have good belief in it due to having good changes in my life, and also now expect it to be good for my kids because they need to understand and also have enough knowledge, but the main point is surely it's going to always be just useful for me in case I make the right decisions and also use this at the right time instead of doing things that have never been good.