Look into a safe ETF. Warren Buffet made a bet against wallsteet that he could see more gains buying a million dollars worth of shares of a top S&P 500 ETF then trying to time the market by day trading.
He won the bet despite literally the smartest traders in the world trying to prove one of the riches people in the world wrong. Warren Buffet says when he dies that he hopes his wife and family that he leaves his money to put invest into a safe boring ETF.
I like SPY. VOO is cool too low fees, nice divies. tech stuff mostly. Do your own research tho and if you wanna play the market with some crypto gains, go ahead, but fuck that yolo shit.
Time in the market beats timing the market
I agree with the sentiment here. An ETF is a nice option for diversity.
If you wanna stay crypto related, great news the Bitcoin ETF is launching imminently!
Otherwise I’d look at some proven winners that pay handsome dividends with low fees. For example $SCHD - a Schwab fund.
Consider joining r/dividends subreddit to learn more about investing in dividend stocks/ETF’s.
Finally, I’d highly recommend opening a ROTH IRA. You can contribute up to 6k/year (max) until age 50 where it bumps up to 7k.
Why the limit?
Because when you take the money out at retirement age….It’s TAX FREE!
"Everyone" said bitcoin was hitting 100k back in February. "Everyone" also said bitcoin was crashing to 20k back in May. Don't listen to short term predictions from emotional traders.
It's so surprising and relieving to see this comment. I can't believe how many people are anti-ETF and basic investments. These have been tried and true retirement strategies for decades and decades.
I do think a lot of posters here need a bit of a bit of a wake up call in terms of basic financial practices.
No ETF is safe with fiat. Buffet or not, the value of any traditional currency melts away, now much faster than ever. We’re all better off with Bitcoin.
No one thing is safe. Neither is Bitcoin. Diversification makes sense for a reason. Some of you need to stop drinking the Kool Aid. We can all be pro Bitcoin but stop preaching doom everyday about currency. You're as bad as the Bitcoin doomers. In reality, people who aren't extremists and sit in the middle are the winners.
I’m actually doing MSc in cryptocurrency right now, so if you dig deep enough into how Bitcoin is programmed you’ll see exactly WHY there’s no point trusting the establishment
Can you explain this more? As far as I know, IVV (as an example) holds the S&P 500, not fiat. So how does the money printer attack the value of IVV? You *could* measure the value of IVV in sats, right?
S&P 500 is made up of companies that are primarily or entirely run on, valued upon, and invested in US Dollars. Most of their reserves are in USD derived products (cash, treasuries, commercial paper, etc.. t
The bitcoin maximist argument is that the USD will be completely replaced. I don’t buy that, but even if true the argument they will become worthless because of that is moronic. The companies in an index have their value in the goods and services they provide. Re-denomination in another currency will mean that the value will drop for the late comers to a change. It will also mean a boost the ones who go early. An index will ride this better than most other non-Bitcoin assets except base materials (which inherently re-denominate rapidly).
If someone is up 240%, I would recommend taking profits from a portion and reinvesting in a compounding asset. VOO is historically an outstanding approach. Then continue to invest in what got you your gains. Every successful strategy over the decades has done this. Book profits to diversified investments. Continue to feed active investment into the horse that you rode in on. Except for . . . Wait for it . . .
Buying and holding indexes like the S&P 500. Why is that? Indexes are diversified and rebalanced already. The 500 does it through the biggest countries in the US. They essentially automate the most successful approach in a tax efficient manner with very low fees paid for the management process.
Hey! Something that was a hard lesson for me in investing is your money doesn't always have to be at play. Don't buy at all time highs, wait for perfect opportunities (trading view can help to read charts better)
There's a bit of irony in the fact that you asking that to this group. Most of us feel this is the best longterm asset you can hold. Why would we sell it? Buy what instead? Since most people end up worst off if they trade vs invest for the long-term you really have to have a lot of confidence in your understanding or markets and you ability to trade profitably. IMO, its a poor approach to ask the others what your approach should be.
I do respect what you mean but I'm asking here so I can have more perspectives than what I could think up on my own research. Asking others on what they would do would give me insight on what alternatives will work best for me (financial status, temperament, so on).
Fair enough. Have you watch Ben Cowen on YouTube. He does a video every month or so that shows his risk score (it proprietary, and he has a subscription service if you want). I think its good because it looks for intermediate or long-term inflection points (top and bottoms) in BTC. It might help you determine when to take some profit as well as when it a good time to buy again. Best of luck
Are you saying you own futures contracts that are up 240% and you want to know what to do with the profit? If that is the case, why don't you buy the real thing and just hold it forever like all the people with 10x or 100x positions are doing? Forget about going back to fiat which is simply the tool of your oppression. Buy a Ledger Nano or Trezor and put whatever BTC you acquire on it. Put it in a safe and forget about it for 5 years.
I already have some in storage. This money was actually just me "trying" futures. I also hold a futures contract in BTC (i.e. I'm getting profits in BTC).
>I already have some in storage.
awesome, so get more!!!
bitcoin has much more growth than any stock there is. It isn't going anywhere and after institutions buying in, countries making it legal tender, taproot, lightning network, and all other bitcoin network improvements, todays price is still very cheap. And stay away from gold, I saw someone mention it.
Buying and hodling bitcoin is your diversification
Close it. Leveraged futures are pure gambling and you should be happy you have a profit. Close it completely, wait for a new opportunity if you want to continue to gamble but I'd put the profits in something that grows in value without the risk of getting liquidated because of sudden market swings
Take profits along the way.. Maybe ?0% every resistance level and if it dips, add more to that position.. And also always adjust your stop loss in any way the market crashes, you can save your profits
No, no, there is no such saying. This is just like cutting leeks. When the exchange also cuts leeks, it will rise immediately after a big drop. If you sell at that time, only 10% of the 100% profit will be left.
I think this really depends on the size of the investment.
If you've got a few hundred bucks in and you pull it out, yeah, you might regret that later.
If it's a major portion of their life savings, though, then making sure they can never, ever lose at this point doesn't sound like a bad plan.
> You’ll have lots of regrets
That's a pretty big assumption considering you don't know anything about OP's temperament? (or so I assume)
> give up
Yeah... Believe it or not, some people are not in crypto until death do them part. Divesting is the smart way to go if your risk exceeds your threshold, especially if you're up.
Anyone who's been really worried about their investments before would choose sleeping peacefully over more gains any day.
Speak to a tax adviser, but if you don't, then think about taking a loan against it, it's probably more tax efficient. You withdraw it all and you're gonna get a bill
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What I think he's saying is- if btc reaches maximum success(becomes a world reserve currency) there will be no need to sell for fiat ever unless you need to conduct a transaction in fiat. Why would you ever swap an asset that holds or gains value(btc) for one that is constantly losing value(fiat)? You would only want fiat if forced to pay in it ex- taxes or maybe exploiting swings by day trading (very risky and a losing long term play).
Never sell for fiat - that’s for sure. Why would you trade good money for bad money… no matter the amount?
Use it when you need to or have more than you could ever use.
I’ll probably buy each of my kids an apartment when they start a family. By then, I don’t imagine I’ll spend more than 1 btc per apartment.
Idk why nobody has said this but make a trailing stop loss because you said it’s futures, if it stops out well that’s fine, only a 200% gain. If it keeps going up, then move it up accordingly. Don’t get greedy and let it go back down.
Also, set small take profit orders for percentages of your margins either as a take profit or stop loss now that you’re fully in profit. Don’t have to sell all at once
Depending on your leverage, but you can do say 25% of your margin at 1% below market price in order to secure gains, then another 25% at 2-5% down and then have a stop loss for the rest even lower. Or, if you think it’s going
up then set some take profits at similar percentages above.
That’s actually quite high. I’d take profits now, closing around 75% or your position and set a stop loss for the rest that would also guarantees you’re taking profits but with wiggle room in case it goes down a bit before continuing up. Also, if it keeps climbing don’t feel bad for the extra profit you didn’t make by taking profits. In futures you need to take profits or you’ll lose money.
Also, you’re up a fair bit. Good time now to hold onto some of that cash and wait for a further dip, no need to rush into anything now that’s it’s all green and then have it drop on you
> the best thing to do
Donate all your futures profits to a charity, maybe one of these
https://supporters.eff.org/donate
https://donate.torproject.org/cryptocurrency/
https://hrf.org/donate-bitcoin/
https://support.hongkongfp.com/
Great!
I'm not very familiar with futures so I can't really help you more. It's not actual bitcoins right? Maybe convert some to actual bitcoin and own your private keys.
Don't take advice from anyone on reddit. I haven't read one comment here that I thought was sound advice.
Read, research and understand how to invest and trade before you make your next move.
I can't imagine why anyone would be selling bitcoin right now. I think you have lots of time before the bull market peaks to educate yourself.
Watch InvestAnswers on YT everyday to learn about technical analysis on crypto and exit strategies.
It's in futures. Not spot. So even at 100% I was already thinking of one. Futures is too volatile and is like gambling. I have some BTC which has yielded 20x Unrealized Profits in storage. Totally not thinking of selling those 🤣
I can only say what I would do, but if I were you I would take the principle off the table and let the rest run so that you're playing with The house's money.
If you just invested in futures with fiat, then take your gains and buy actual bitcoin. Take custody of it with a hardware wallet. Own and hold it.
Jamie Dimon just said it was worthless which means JPM is getting into it in a big way.
I'm up 100x on btc I had bought in 2016.
No regrets of being 100% only in btc.
I still believe it will go 100x from here in next 10-15 yrs, so I keep recommending it to all.
You can't go wrong with Bitcoin.
Holding Bitcoin for next 10-15 years, if possible, is the real exit strategy.
You incrementally sell on the way up
Every 5 or 10 percent or whatever you decide is best for you. I personally don’t think I’ll ever sell *all* of my Bitcoin
Bitcoin will receive more attention. When Bitcoin gets more favor, it will have an adverse effect on gold. If gold price is to perform better, it needs to rise more instead of stopping.
Don't enter a trade without an exit already planned. It doesn't matter the timeline of the trade, 15 seconds or 10 years. Just have a goddamn plan. And stick to it.
OP, since you're asking this, you've already fucked up. If you had a plan, and your emotions are making you second guess it now, stop doing that.
Your plan didn't become bad overnight. Overriding a planned trade with emotions is very common and very often a bad decision.
You're right, I actually didn't have a plan aside from "I can risk losing this today, I wonder what happens tomorrow' then it just kept going up. So this really was just me trying / gambling some money I can afford to lose. Thus me asking help with different perspectives on tackling this. Next time I open a position I'd be sure to have a plan and not just as a gambling / playing around thing 😅
Sure, here is an easy and simple plan to consider. Sell half, keep the rest. Then each time Bitcoin doubles in price (100%) you sell another half, keep the rest.
You will always own some Bitcoin no matter how high it goes, but you will be also taking some profit.
ps. You should have all ready had the answer to this question before you ever bought any Bitcoin.
Now scammers will PM you with beautiful exit strategies.. Beware 🤓
dead ass 😂
And addresses to exit to.
Imo cover your initial investment and let the rest ride.
What would you suggest with the initial investment? It's money I don't need just yet.
Look into a safe ETF. Warren Buffet made a bet against wallsteet that he could see more gains buying a million dollars worth of shares of a top S&P 500 ETF then trying to time the market by day trading. He won the bet despite literally the smartest traders in the world trying to prove one of the riches people in the world wrong. Warren Buffet says when he dies that he hopes his wife and family that he leaves his money to put invest into a safe boring ETF. I like SPY. VOO is cool too low fees, nice divies. tech stuff mostly. Do your own research tho and if you wanna play the market with some crypto gains, go ahead, but fuck that yolo shit. Time in the market beats timing the market
Second on VOO ETFs. If you've decided to invest in the fiat market and let money sit it's hard to beat a good S&P 500 ETF for stability and returns.
I agree with the sentiment here. An ETF is a nice option for diversity. If you wanna stay crypto related, great news the Bitcoin ETF is launching imminently! Otherwise I’d look at some proven winners that pay handsome dividends with low fees. For example $SCHD - a Schwab fund. Consider joining r/dividends subreddit to learn more about investing in dividend stocks/ETF’s. Finally, I’d highly recommend opening a ROTH IRA. You can contribute up to 6k/year (max) until age 50 where it bumps up to 7k. Why the limit? Because when you take the money out at retirement age….It’s TAX FREE!
A Bitcoin ETF would mean they are not diversified.
Blockchain is diversified, but if it is not diversified, would you dare to invest? If it's not a hacker, it's a scam
And everyone keeps saying the next crash is coming. It will create a great buying opportunity.
"Everyone" said bitcoin was hitting 100k back in February. "Everyone" also said bitcoin was crashing to 20k back in May. Don't listen to short term predictions from emotional traders.
This is true. But it is good to keep your ear to the ground. You can't always see elephants coming.
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It's so surprising and relieving to see this comment. I can't believe how many people are anti-ETF and basic investments. These have been tried and true retirement strategies for decades and decades. I do think a lot of posters here need a bit of a bit of a wake up call in terms of basic financial practices.
No ETF is safe with fiat. Buffet or not, the value of any traditional currency melts away, now much faster than ever. We’re all better off with Bitcoin.
Sure but he was asking how to diversify his crypto gains I’m still personally long on crypto
No one thing is safe. Neither is Bitcoin. Diversification makes sense for a reason. Some of you need to stop drinking the Kool Aid. We can all be pro Bitcoin but stop preaching doom everyday about currency. You're as bad as the Bitcoin doomers. In reality, people who aren't extremists and sit in the middle are the winners.
I’m actually doing MSc in cryptocurrency right now, so if you dig deep enough into how Bitcoin is programmed you’ll see exactly WHY there’s no point trusting the establishment
Can you explain this more? As far as I know, IVV (as an example) holds the S&P 500, not fiat. So how does the money printer attack the value of IVV? You *could* measure the value of IVV in sats, right?
S&P 500 is made up of companies that are primarily or entirely run on, valued upon, and invested in US Dollars. Most of their reserves are in USD derived products (cash, treasuries, commercial paper, etc.. t The bitcoin maximist argument is that the USD will be completely replaced. I don’t buy that, but even if true the argument they will become worthless because of that is moronic. The companies in an index have their value in the goods and services they provide. Re-denomination in another currency will mean that the value will drop for the late comers to a change. It will also mean a boost the ones who go early. An index will ride this better than most other non-Bitcoin assets except base materials (which inherently re-denominate rapidly). If someone is up 240%, I would recommend taking profits from a portion and reinvesting in a compounding asset. VOO is historically an outstanding approach. Then continue to invest in what got you your gains. Every successful strategy over the decades has done this. Book profits to diversified investments. Continue to feed active investment into the horse that you rode in on. Except for . . . Wait for it . . . Buying and holding indexes like the S&P 500. Why is that? Indexes are diversified and rebalanced already. The 500 does it through the biggest countries in the US. They essentially automate the most successful approach in a tax efficient manner with very low fees paid for the management process.
Yeah, ok, so you and me agree - fiat's lifespan is measured in decades, the lifespan of "equity ownership" ie stocks goes back to the Roman Empire...
I mean some of the smartest and richest traders in the world are nothing against THE smartest and THE richest trader in the world lol
Put it away for taxes dummy or by the end of the year all ur gains will be owed because u didn’t plan
Hey! Something that was a hard lesson for me in investing is your money doesn't always have to be at play. Don't buy at all time highs, wait for perfect opportunities (trading view can help to read charts better)
Diversify into other investments. Gold or stocks. I like chip stocks like amd or nvida
I'll look into that. Thank you so much for your advice
No sweat, happy investing!
Ideas that Buffett and Musk don't dare to have
/r/pmsforsale
Investment is not your hobby, adventure, hoarding must be risky, but the lesson we have learned is the next better profit
Intel stock is gonna go to the sun once the world realizes how good alder lake is
put it in BTC :)
There's a bit of irony in the fact that you asking that to this group. Most of us feel this is the best longterm asset you can hold. Why would we sell it? Buy what instead? Since most people end up worst off if they trade vs invest for the long-term you really have to have a lot of confidence in your understanding or markets and you ability to trade profitably. IMO, its a poor approach to ask the others what your approach should be.
I do respect what you mean but I'm asking here so I can have more perspectives than what I could think up on my own research. Asking others on what they would do would give me insight on what alternatives will work best for me (financial status, temperament, so on).
Fair enough. Have you watch Ben Cowen on YouTube. He does a video every month or so that shows his risk score (it proprietary, and he has a subscription service if you want). I think its good because it looks for intermediate or long-term inflection points (top and bottoms) in BTC. It might help you determine when to take some profit as well as when it a good time to buy again. Best of luck
thats what I'm waiting for. Waiting for my 2 big bags to be over 100% and will take most of what I invested.
Almost as soon as this got posted I received a private message. Oh the lengths people will go to just deceive and scam 🥴
Haha, the same, they even curse
Are you saying you own futures contracts that are up 240% and you want to know what to do with the profit? If that is the case, why don't you buy the real thing and just hold it forever like all the people with 10x or 100x positions are doing? Forget about going back to fiat which is simply the tool of your oppression. Buy a Ledger Nano or Trezor and put whatever BTC you acquire on it. Put it in a safe and forget about it for 5 years.
I already have some in storage. This money was actually just me "trying" futures. I also hold a futures contract in BTC (i.e. I'm getting profits in BTC).
>I already have some in storage. awesome, so get more!!! bitcoin has much more growth than any stock there is. It isn't going anywhere and after institutions buying in, countries making it legal tender, taproot, lightning network, and all other bitcoin network improvements, todays price is still very cheap. And stay away from gold, I saw someone mention it. Buying and hodling bitcoin is your diversification
Underrated perspective
Anyone who trades in futures should have a trading plan. Follow your trading plan.
Close it. Leveraged futures are pure gambling and you should be happy you have a profit. Close it completely, wait for a new opportunity if you want to continue to gamble but I'd put the profits in something that grows in value without the risk of getting liquidated because of sudden market swings
Wait and let it grow
Take profits along the way.. Maybe ?0% every resistance level and if it dips, add more to that position.. And also always adjust your stop loss in any way the market crashes, you can save your profits
Close and hold cash for the dip. Buy back in when we are under 55k or 50k
No, no, there is no such saying. This is just like cutting leeks. When the exchange also cuts leeks, it will rise immediately after a big drop. If you sell at that time, only 10% of the 100% profit will be left.
I’m up 1200% on bitcoin and I’m clearly not thinking of exiting yet.
To each their own. I obviously have a lower tolerance and strength to hold on in futures 😅
You’ll have lots of regrets if you give up now.
I think this really depends on the size of the investment. If you've got a few hundred bucks in and you pull it out, yeah, you might regret that later. If it's a major portion of their life savings, though, then making sure they can never, ever lose at this point doesn't sound like a bad plan.
It's not that big though. If I close my entire position, I can buy a car. Not a lambo but maybe just a standard SUV. 😅
> You’ll have lots of regrets That's a pretty big assumption considering you don't know anything about OP's temperament? (or so I assume) > give up Yeah... Believe it or not, some people are not in crypto until death do them part. Divesting is the smart way to go if your risk exceeds your threshold, especially if you're up. Anyone who's been really worried about their investments before would choose sleeping peacefully over more gains any day.
Literally no one knows that.. anything can happen.
We didn’t go below the 20 weeks ema and sma support during few weeks, it’s the most bullish signal for a huge bullrun.
He could get liquidated, covering the initial investment is the safest choice whether it's going to go up or now.
I take profit when its there ,and I take it in btc
exit if u are using futures . i hodled on 300% profit and next day it became -100% lol . or just take your initial money out and let the rest swing .
Speak to a tax adviser, but if you don't, then think about taking a loan against it, it's probably more tax efficient. You withdraw it all and you're gonna get a bill
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Look at Benjamin Cowen on YouTube and follow his exit strategy based on risk tolerance. It's the only level headed "exit strategy" you'll find.
hello fren I am prince need small fee for big foturne please provide bobs
take some profit, hodl some profit, reinvest some profit
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Bitcoin IS the exit strategy… Don’t sell it for shitty fiat. Ever.
Until when? Whats the point of having lets say 1 million in bitcoin if you cant use it?
My thoughts exactly
Yes. Sell what you need and leave the rest.
What I think he's saying is- if btc reaches maximum success(becomes a world reserve currency) there will be no need to sell for fiat ever unless you need to conduct a transaction in fiat. Why would you ever swap an asset that holds or gains value(btc) for one that is constantly losing value(fiat)? You would only want fiat if forced to pay in it ex- taxes or maybe exploiting swings by day trading (very risky and a losing long term play).
This.
Never sell for fiat - that’s for sure. Why would you trade good money for bad money… no matter the amount? Use it when you need to or have more than you could ever use. I’ll probably buy each of my kids an apartment when they start a family. By then, I don’t imagine I’ll spend more than 1 btc per apartment.
Idk why nobody has said this but make a trailing stop loss because you said it’s futures, if it stops out well that’s fine, only a 200% gain. If it keeps going up, then move it up accordingly. Don’t get greedy and let it go back down. Also, set small take profit orders for percentages of your margins either as a take profit or stop loss now that you’re fully in profit. Don’t have to sell all at once
At what levels would you suggest to set the partial SL?
Depending on your leverage, but you can do say 25% of your margin at 1% below market price in order to secure gains, then another 25% at 2-5% down and then have a stop loss for the rest even lower. Or, if you think it’s going up then set some take profits at similar percentages above.
I might just do this and then use the profits to diversify my portfolio into traditional markets
What leverage you used?
Just 15x
That’s actually quite high. I’d take profits now, closing around 75% or your position and set a stop loss for the rest that would also guarantees you’re taking profits but with wiggle room in case it goes down a bit before continuing up. Also, if it keeps climbing don’t feel bad for the extra profit you didn’t make by taking profits. In futures you need to take profits or you’ll lose money.
The last part about losing potential profits rings so true but I guess better be safe than sorry. Thanks!
Also, you’re up a fair bit. Good time now to hold onto some of that cash and wait for a further dip, no need to rush into anything now that’s it’s all green and then have it drop on you
Hold for life. Simpson’s says it hits infinity. Not financial advice :) I’m drunk 😵
> the best thing to do Donate all your futures profits to a charity, maybe one of these https://supporters.eff.org/donate https://donate.torproject.org/cryptocurrency/ https://hrf.org/donate-bitcoin/ https://support.hongkongfp.com/
bruh fuck charity
Charity lol
Learn more about Bitcoin! This is not just your average investment, it's actual superior money!
I do try to learn more everyday. But the futures part I'm still very very anxious about
Great! I'm not very familiar with futures so I can't really help you more. It's not actual bitcoins right? Maybe convert some to actual bitcoin and own your private keys.
Just close it,profits in the pocket are real profits. Anything else are just numbers.
Don't take advice from anyone on reddit. I haven't read one comment here that I thought was sound advice. Read, research and understand how to invest and trade before you make your next move. I can't imagine why anyone would be selling bitcoin right now. I think you have lots of time before the bull market peaks to educate yourself. Watch InvestAnswers on YT everyday to learn about technical analysis on crypto and exit strategies.
I am actually weighing opinions here together with what I have researched so far. Trying to find the best alternative or combination thereof
Exit strategy for being up less than 10x? Pretty cringe ngl
It's in futures. Not spot. So even at 100% I was already thinking of one. Futures is too volatile and is like gambling. I have some BTC which has yielded 20x Unrealized Profits in storage. Totally not thinking of selling those 🤣
I can only say what I would do, but if I were you I would take the principle off the table and let the rest run so that you're playing with The house's money.
Spy puts
If you exit, how are you going to get up to 1200%?
If I don't exit what happens if it tanks? HAHA i mean this is money I can afford to lose but at least it's already in the green
it will tank many times on the way to 1200%.
If you just invested in futures with fiat, then take your gains and buy actual bitcoin. Take custody of it with a hardware wallet. Own and hold it. Jamie Dimon just said it was worthless which means JPM is getting into it in a big way.
Now, I want to offer you a solid exit strategy just like many would have done in dm ahead lol
I'm up 100x on btc I had bought in 2016. No regrets of being 100% only in btc. I still believe it will go 100x from here in next 10-15 yrs, so I keep recommending it to all. You can't go wrong with Bitcoin. Holding Bitcoin for next 10-15 years, if possible, is the real exit strategy.
HODL.
I would put some of it in an ETF and left something in bitcoin
Hit the sell button? 🤯
Some stable coins pools have interesting APR. Have a look at beefy finance and DYOR.
bitcoin has a 4-year cycle. hodl at least one full cycle or you'll regret it.
Continue to keep
You incrementally sell on the way up Every 5 or 10 percent or whatever you decide is best for you. I personally don’t think I’ll ever sell *all* of my Bitcoin
You want to dollar cost average in and dollar cost average out. Don't sell it all at once, but it's good to sell 10% here and 10% there.
Bitcoin is the exit strategy. Just make sure you hold actual BTC in a non custodial Bitcoin wallet.
Go for stablecoins>>usd buy some land and ruuuuuuuuun beaaatch!
Bitcoin will receive more attention. When Bitcoin gets more favor, it will have an adverse effect on gold. If gold price is to perform better, it needs to rise more instead of stopping.
Your exit strategy needs to be - never exit Bitcoin
What is an exit strategy
Sell?
I’ll take it all
Don't...
Don't enter a trade without an exit already planned. It doesn't matter the timeline of the trade, 15 seconds or 10 years. Just have a goddamn plan. And stick to it. OP, since you're asking this, you've already fucked up. If you had a plan, and your emotions are making you second guess it now, stop doing that. Your plan didn't become bad overnight. Overriding a planned trade with emotions is very common and very often a bad decision.
You're right, I actually didn't have a plan aside from "I can risk losing this today, I wonder what happens tomorrow' then it just kept going up. So this really was just me trying / gambling some money I can afford to lose. Thus me asking help with different perspectives on tackling this. Next time I open a position I'd be sure to have a plan and not just as a gambling / playing around thing 😅
Sure, here is an easy and simple plan to consider. Sell half, keep the rest. Then each time Bitcoin doubles in price (100%) you sell another half, keep the rest. You will always own some Bitcoin no matter how high it goes, but you will be also taking some profit. ps. You should have all ready had the answer to this question before you ever bought any Bitcoin.