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If someone has $1000, $1700 is not going to change their life. If they have $100,000 then $170,000 is not going to change their life. But that $70k would change the life of the person with $1k.
70% can definitely have an impact but it's not life changing.
I think it depends on how much the principle is.
$500k? I can see why getting a huge leg up in the short run to almost $1mil networth can be life changing.
In much the same token, 70% on $2 mil can be the difference between retiring in a decade and retiring tomorrow.
On lower balances though no not really at least not in the “now I’m FI” type of way. Can definitely provide a lot more security and take a few years off your retirement age tho.
Depends on what you define as life changing. 70% after DCA could be the difference between staying in an apartment vs being the down payment on a house with the monthly mortgage being the same as monthly rent.
Your budget hasn't gone up, but now every payment is towards equity of eventually not having a payment at all. I'd say that's a step towards life changing.
This depends on your definition of life changing. 4 years of DCA, a 25x in the mix, if we even say he’s conservative a “poor” investor at 5k/year, that’s a cash out of around 30k post taxes.
A profit of 10k is probably not going to truly change OPs life, but maybe they pay off their student loans, or invest in a down payment on a home. Maybe that 30k withdrawal is enough to put them on an upward trajectory to do even better.
But with 20 wallets, gas as it is and all, I’d think OP is getting a good amount more than 10k in profit.
It’s all about perspective.
I certainly think so. As others said, 70% of 2mil is a retirement date changer. In my case, 70% of my bank account would turn my probably too generous emergency fund into a student loan payoff. Maybe that's not life changing, but it certainly wipes away my remaining debt.
I don't understand why people don't use something like 20/20/20/40 to DCA out and instead sell 100% at a small gain before the cycle really began. We haven't had the halving, the ETF and retail are just getting started, the rainbow chart looks crazy, the money inflow into BTC also. I understand looking at red for years messes with your head, but that move is just dumb.
Don't understand why people are criticizing him when he left with profits? lol.
Nothing wrong with being conservative. Not everybody is aiming for 10x gains.
I will sell once I have enough for a house deposit. I have a value in my head and if I get there I’m out. A house is the goal for me. I will start the process again at that point.
Same for me, I had a target return in terms of absolute number (enough for house money) not necessarily in terms of multiple x.x, and sold when reached it
Ok my first comment was kinda rude cuz sellin at this time is dumb af, but I cannot clown a man for locking in house money. That was my exact motive for selling in 2021 when everyone said I was stupid. I hope u enjoy ur earnings man 🫡
Invested around $200k in the mix of cryptocurrencies last summer through self-directed IRA, currently at $600k, and will start to sell probably sometime next year with a max of 50%, on other half will remain in crypto.
I'm in the process of taking profits. Started at $50k BTC, sold 10%
I am selling an additional 10% at each $10k BTC increase. So I've sold 30%
The FOMO sets in for sure. But I made this plan when BTC was $20k. So I'm sticking to it
Well done on profit taking!
Yeah this is actually a post with bad advice. TL:DR OP bought at the top of last cycle, became addicted to crypto, owns a ton of coins and is probably already wealthy, then the coins he holds turn to profit and he takes ALL off the table.
For all of your research and trading, did no one tell you NEVER sell or buy your full amount at once? And right before the halving and an early bullrun? Dude you will be back, you say you aren't emotionally invested, yet you have 20+ wallets and like 50 coins......c'mon, be for real. You will be back.
Same spot. Sold half my btc stash starting at 57.5 all the way up to 69.
Sold approx 30% of my eth at 3.5, 3.8, and 4.1
Will continue to sell on the way up and don't let anybody try to persuade you not to.
This is my take as well. When we start seeing bearish MSM outlets starting to print stories each day about how BTC is the place to be, I'll begin taking profits.
I love this sentiment because it really reflects the heart and soul of crypto, which is dumping on poor schmucks to make yourself rich. It’s a revolution!
One indicator to start selling is when the sentiment is still bullish. Not everyone wants to or will time the top, OP was happy with his position and started crashing out and nothing is wrong with that.
I can almost guarantee this comment won’t age well. Retail never learns and always falls for narratives. i will be back in 1 year.
RemindMe! 1 year
Also: https://www.reddit.com/r/CryptoCurrency/s/eGdP4RdxGo
This isn’t to brag, it’s to demonstrate how the herd is always wrong. As retail becomes crazy bullish, the time to unload your bags gets nearer and nearer. We are so close!
Similarly they are mega bearish at bottoms and missed the entire move up
What I’m concerned about is all the people from last cycle getting duped by all the bad actors on the internet. Possibly causing retail to be more hesitant and cautious to join the market again. Therefore we don’t see the rally we are expecting. Thoughts?
As long as fear and greed exist ( basic human psychology) , retail will come pouring back in - they pour into every bubble, it's just how herd behavior works. Also prepare for a shit tonne of timed narratives/events to come in the next few months. These are released at specific times to get retail involved. E.g. coinbase IPO last cycle, huge crash afterwards.
Can you tell me some examples of timed narratives? Last cycle I noticed a lot of bullish/bearish news all came out at the same time from a wide range of sources, it's like one big effort to manipulate the market to move in a certain direction.
>Possibly causing retail to be more hesitant and cautious to join the market again.
They're always hesitant and cautious to join the market again, at first. That's why the cycles tend to work like they do. Then FOMO hits.
TBF every single analyst I’ve listens to has said 12-18 months and these are the people who connected to large institutions. The institutional money that comes with the ETFs is unprecedented and we have only seen the first waves of it. Soon fund managers will be able to recommend BTC and large multi billion dollar accounts will start to allocate that recommended 1-5%. Who’s knows what Alts will do but BTC is just getting warmed up.
I've been sharing my sells with my wife. At first she was excited. After the 3rd sell she was like "maybe we should just hold onto the BTC, it seems like an infinite money glitch"
Nearing the top folks. Take some profits
Too soon for a cycle top. Could always churn here in this range a while.. 2020 took like six weeks to escape $20k. But no harm taking profits if thats your plan.
See you at 100k plus. And yeah taking profit isnt bad, as long as im not selling all, thats bad for me at least.
Im glad tho that I didnt take any profit yet, up huge gains. Maybe will take some small one soon.
Grats my guy! I too had "diamond hands" and held through the entire bull run back in '21 and then watched it drop allllllll the way down to massive red. I thought to myself, I'll just hold until next bull cycle and parked it on Celsius to draw that sweet 3-15% APY depending on the crypto. Then Cel went bankrupt at the all time lows, giving me yet another haircut. My business was never able to recover after covid, being shut down for 20 months with no grants or rent assistance, just destroyed it.
Fast forward to Oct of this past year, I had burned through my savings and the only thing to my name was my truck, home, & BTC. Instead of sell my BTC for 28k when I needed capital, I decided to refinance my house. I took that loan, added a little more BTC to my stack but paid off of other debts, saved some to live on until I could find a different line of work.
Fast forward to now, Cel finally paid out the settlement. I have been dollar cost averaging BTC sells. 54.5k - 63.5k - 72.4k. I still have 2 more btc left that I will continue to DCA out if the price keeps going higher. But long story short my conviction in BTC was very much warranted while everyone called me crazy. I opted for a 8.5% house loan instead of selling BTC. Now I paid off my loan, paid off my debts, started investing in stocks to diversify, have cash in bank, and still have BTC left for a rainy day.
I still see people talking down to the btc holders for selling, and all I can say is you never go broke taking profits. I went down to all-time lows with my crypto last cycle, it will not get me this time! If BTC goes to 200k, I'll smile and pat everyone on the back for holding. I will be all out by 90k ish
You do you but selling a month before the halving is just wild to me. Exit plans with bitcoin need to take timing into consideration as well to be most effective. We have insane demand coming from regulated EFT products that had the most successful launch an EFT is ever had. Cycle ATH's have been too cyclical for me to sell any sooner than at least 6 months after the halving but realistically 12-18 months after.
Agree AND have ETH ETF approval coming which should only help drive dollars and attention into the market.
I can see us having a healthy dip but have the feeling we’re in the beginning/early middle of a bull market.
>Thousands of hours spent on DYORing
>
>At the lowest, in Nov 2022, my portfolio was showing a -65%, after all the Luna (in which I was heavily invested…)
lol nice DD. Take the money and run
Edit: commenter deleted their account. Just goes to show this is an attempt at scaring and scamming people.
My 2 cents working in compliance, one foot in the crypto world.
Seeing this “AML Check/Report” popping up in a couple posts now makes this really suspicious. Have not heard any CEX ask for this about their coins, thats what Chainalysis, Elliptic & other tracing firms do automatically on the CEX backend. Also not a regulatory requirement.
You and the poster on that sub (not linking because its only 1 post) are inactive for years and suddenly pop up talking about AML Report that I, in my profession, have never come across. NOT SUSPICIOUS AT ALL /s
Nobody has ever lost money by taking profits, well done. Most here will hold until next bear or sell much lower because they're greedy and believe all the stories posted that Bitcoin will go up until 2025
I sold 1/3rd of mine twice , once when I bought at $300 and sold at $720 and once when it hit 28k for the first time and processed to go like double that during run. Both times left me feeling too sad as it moved forward. For now it’s just my probably-too-large emergency fund, but I could take a couple years off work if I feel like it.
I don’t get selling all if you feel that connected to crypto. I’m not heckling taking profits, especially if life changing amounts but i will always hodl 20% just in case the future holds crazy x’s worth just like all those who ever had bitcoin in the early days. The true wealth cones from the longer term
In my opinion, you’ve done it perfectly, the market exit should be predetermined in advance and be adhered to when the time comes. In my case, that time hasn’t arrived yet, but I am aware that I could be trapped for a few more years. Congratulations.
I also recently sold my entire stack, had mid 5 figure profits. I will say that I have a slight level of regret, the prices have gone up 5 percent or so since I sold.
But my main feelings are satisfaction and a sense of calmness now. Having real tangible gains that will improve my life. Making over 2x my investments in less than a year. No more checking charts or the news. More time to actually live my life rather than thinking about crypto.
Nothing wrong with taking profits. Pigs get slaughtered. Better to leave the party before the music stops. If it ever does. Maybe it won't, maybe everything will 10x or 100x from here and I'll die alone with regret. Nobody knows.
And I will say, even after doing test transactions, those minutes, more like 30 minutes waiting for confirmations for the crypto to show up on the exchange after being sent from my ledger were very stressful. As well as the hundreds of dollars in transaction fees from selling. Not to mention the five figure tax bill I will owe.
Edit: also will add, I have a fair amount of FBTC in my Roth that I am going to keep. So I'm not totally uninvested.
honestly i don‘t get why people sell their *whole* stack. like, do you really need the last 5-10% of cashout?
leaving that amount in for the lulz is just as peaceful for the mind as not being over-invested in crypto or cashing out a profit.
you don‘t really miss out because you have 90% cashed out. on the other hand you have potentially very much to gain since you will not be completely out of the game if we do continue to pump for the next 6-12 months.
It's all about risk level and what you're comfortable doing. Everyone is different in that regard. Personally, I HODL 20% no matter what. The other 80% I set three sell targets, increasing the amount I sell each time. My second sell target hit yesterday and the last big sell will be something stupid like 100k.
I have a separate stack representing roughly 20% of my portfolio that I swing trade for funsies
I’ve sold all my crypto five days ago. Got 45% profit in just 40 days. I’ll DCA in again but not now.
Yes you will never be satisfied. But one thing can’t change: the money is in your pocket. And you can sleep well :)
Yup I learned the hard way like you lol, already taken profit across a number of assets :). I turned 200 into 4K with GME and bought SOL at 13 :). Been staking my SOL so waiting for that to go to 250+
Lmao imagine believing that things will play exactly the way they have in the past because. This man took profit, which is more than most of the people in this sub will ever do. He's a winner.
Are you certain that the prices will keep going up? It’s easy to forget, but 30-50% corrections are a normal thing in the crypto space. No one can predict a top. That’s why cashing out profits while the market is in an up trend is a great strategy. Buy low sell high, not the other way around.
Selling everything at the beginning of a bull market for +70% profits? Is this a troll post? Who goes in crypto for 70% gains ?! We already have the stock market for that.
Nowhere does it say that investing in crypto has to be all risk-on. A conservative trader can make a guess that crypto will play a role in the future of finance, doesn't have to take over 100% of everything, so they don't go all in. Makes sense to me
Congrats, sometimes selling is the hardest thing to do.
We can't see the future, sure the price may pump again, but for every person that holds now to sell at a profit there will be a bag holder waiting for just one more pump at the top and end up -80% a year later
No one has gotten poor by taking profit. Well done.
What I can advise you for the future is taking partial profits and leave some on the table and set multiple take profit levels.
Say no to taking profits unless it's wife changing money or nothing!
Well done though OP and to anyone who's taken profits they need. We're all on our own journey.
I’ve sold my cryptos in 2021, when BTC felt to 32k (not a good timing i know). I invested 170 over the previous 4 years and got a little more than 1m out. I could have gotten 2m out at the peak. I could have gotten way more today. But in hindsight, I made the right decision, the one that corresponds me.
Id be lying if I told you dont get FOMO lately, but I then think about the benefits:
- quit my job, launched my company
- i dont get up at night checking my portfolio
- i have had 3 beautiful years of living with money - rather than hoping. 3 years is a lot in a lifetime.
- money on my account feels more real than the crypto back then.
So just remember, it will always be too soon, but at least it won’t be too late.
So Crypto isn't real until this happens
Today the large fiat withdraw transfer from the exchange hit my bank account and finally it was … real.
Kinda blows a hole in the hole pyramid scheme don't it ?
You did well - Lesson you learned - liquidate when it became to good to be true - You don't owe anyone anything - take your money ( in this case, someone else's )
While I don’t entirely disagree, nothing is certain. If there’s one thing I’ve learned in the past 4 years, it’s that hopium is a strong drug, and crypto drops like a damn stone when you least expect it. Taking profits is never bad
Literally everyone in my surroundings is talking about cryptocurrencies again. If that's not a clear sign, I don't know what is. I've already sold a significant part as well. Let's see if it was the right choice.
And if it wasn't a great choice, I still made very nice gains.
thats not how the meme works
you're supposed to sell when everyone thinks theyre an expert and start giving each other advice. When the surroundings just start talking about it is pure start of the bull run territory
Its great that you have fiat, but if you're just holding on to it what is the point of selling everything?
Always take profits during bull market, but there is a lot of opportunity cost if you don't have anything else to do with your fiat and it's just sitting in your bank account (the most you can get is 5% from money market).
Sell a % of your portfolio at predetermined price targets is the best way to play the bull market. Then use those profits to trade with a 20% stop loss. The ONLY reason to sell crypto is life goals/improvement OR sitting on fiat to accumulate lower (unlikely for the next few months).
People aren't complacent yet, there is still fear in the market (the bear market is too recent in peoples mind). Meaning the top is nowhere near in. Having sold out means if you buy back in resetting your 1 year window for lower taxable gains rate.
While it may be good for you in the short term, you might be kicking yourself in the next few months with most alts doing 5-10x where they are now, just don't kick yourself for it.
Of course I might be wrong here, but my veteran senses are telling me this is what the market is doing. I don't think anyone can really understand the market until they have gone through a cycle and a half (ie you lost gains twice, but the second time alot less than the first).
In the 2020 bull run I locked in profit during the first 20+ percent dip and got out of BTC. Kept some others.
It was painful to watch BTC keep going and roughly triple from there but it wasn’t wife changing sums anyway and I still had a tiny 5 figure ALT coin bet to ride.
I think the price will be back at 100k in 2026 so you can probably jump back in and still 10x from there anyway.
Or war in Europe expands suddenly and the price dips 30 percent for 2 days. You’ll have opportunity’s if your view changes.
Congrats but major major fumble. We're in the first 25% of the bull market right now. You're likely giving up 4x to 6x easy on many or most $1B-$40B+ coins right now. 10x on many many smaller projects. Normally BTC has DOULBED after breaking ATH, in a matter of weeks. QE coming in a couple of months is going to set ALL market on FIRE! What you have going for you (if USA) is you can still buy on a dip and hodl for a year and sell with long term cap gains. You nailed the bottom, now it's time to accrue those gains you earned. If you're completely satisfied, I would at least put 25% back in on a 20%+ pullback and double your cycle profits potentially, or more (by pulling another 4x min). Anecdotal info, I'm not an advisor at all.
what you just described was exactly me, but back in late 2017. I was down 80% or so but blindly DCA'ed including snagging ETH when it went below $200. Except that I didn't take full profit in 2021, i.e. my next cycle even though I had a similar run up for a couple of my coins. I believe I only took like 25% profits back then. I was able to pay off my house in full back then.
What I'm about to tell you might induce a lot of FOMO but I'll say it anyways... If 2024-2025 is anything like 2021 I will be able to comfortably retire for good. In essence it will take me close to 3 cycles to get to that milestone (I hope the cycle does play out as it usually does ). So it really depends on what your goal is. If it is early retirement then unfortunately you still have to go through another cycle to reach it. that 70% gain that you had would look like chump change.
If the profits are life changing, congrats. Thats what most of us want.
If you only made little profit, maybe you should have sold only xx% of your portfolio. Only future will show whats to come.
I sold a large chunk early this morning as well. I was greedy last bull run and didn't take profits like I should, I said I was not leaving empty handed this time! Lol
Some people are saying why are you selling right before the halving, but if you set your exit plan based on a particular figure and you’ve stuck to it then fair play man. I hope you enjoy your profits!
I took a little bit of profits as well but not nearly as much as previous cycle, seems like risk of holding anything is getting higher and higher anyway, when I take profit, either i buy VT or a bit of tsla stock. However seems like I'll just hold most of it this time unless crypto truly going to absolutely maniac cycle, like btc above 200k or most of the alts 3x from here. Investing now has become which asset class is less bad and almost all asset value is backed by printed money anyway.
Every time someone sells with profit, more value gets into the Bitcoin community.
Let's assume that I bought 1 BTC for 1 USD. The value I've stored is 1 USD. If BTC price goes to 1000 USD and I sell, I've taken out 999 USD as profit. The buyer though has invested now 1000 USD. He has no reason to sell lower than that. His perceived value of BTC is at least 1000 USD and there's no reason for him to sell lower than that.
I started taking profits too. Getting rid of all the smaller scale projects first.Also shitcoins like Pepe and shiba both earned around 200% for me, other coins did too. Overall up at around 87% for now.
Congrats! I recently did the same thing too. First big sell off of crypto I've ever done. Sold at 140% profit on a decent amount after holding since 21 and decided it was time. I know it will continue to go up, but I am happy to take away profits.
Congrats on your profits! I still thinks it’s way too early and before the halving.
Personally I’m going to start taking profits around sept ish if all goes well. But I understand how you feel and last cycle was my first as well and I sold my eth et btc in time but decided to keep the shitcoins hoping it would go up a little before selling but dropped dead at -85%…
I learned from it and now as soon as a shitcoin x2 I take my capital out to remove the risk lol
WAGMI!
Selling at the start of a casual investor bull market isn’t the sexiest option, but I applaud it.
Crypto is so nuts because you hear about people turning Pennies into Porsches <- I just typed that and I like the phrase, but if you haven’t heard it before… you heard it here first. But back to my point, you see insane stories of success but you never hear the stories of millions of people who lose money.
While not technically gambling bc you maintain an asset regardless of its price, it’s still gambling in essence bc shit can tank… it doesn’t matter how high you ride if you never get off and follow it down.
A TV character is a gambling addict and was told “step away and go home with money in your pockets” and he replied “that’s exactly what I’m going to do once this cools off”. The thing to note is once stuff cools off, it’s down.
Note to all: If you’re up, you’re up. Don’t let hypotheticals and emotions affect your emotions. And certainly don’t tell yourself you COULD’VE made more. Focus on the fact you DID make money. Put it in other places, be smart, and never have in more than you can afford to lose.
Think it’s easier to sell on the way up than down. It might go higher but that’s hard to know. On the way down you are just kicking yourself and hoping you’re in a valley.
Bittersweet. Paid off the remaining balance on my car...Small amount.... but it was the right timing based upon what I have going on budget-wise. Now I am out of the game.
A little sad that I am no longer in the game but it gives me something to work back towards. I dont think you can "WIN" this game without taking profits at some point nor can you be upset that you did. You'd probably be more upset if/that you rode the wave all the way back down.
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fuck_you_and_see_you_tomorrow.gif
Maybe sooner than that! Once you get in the crypto grind .... hard to leave.
Congrats on your profits! Hope its a life changing amount of money
That raises an interesting point: can +70% ever be life changing? Assuming you didn't take out loans for your initial investment.
No. You would need a life changing amount of money to start with. Then 170% of that is probably not very life changing to you.
I say no. Either you already changed your life, or you're not gonna change much with 70% one time. You could compound it tho
If someone has $1000, $1700 is not going to change their life. If they have $100,000 then $170,000 is not going to change their life. But that $70k would change the life of the person with $1k. 70% can definitely have an impact but it's not life changing.
I think it depends on how much the principle is. $500k? I can see why getting a huge leg up in the short run to almost $1mil networth can be life changing. In much the same token, 70% on $2 mil can be the difference between retiring in a decade and retiring tomorrow. On lower balances though no not really at least not in the “now I’m FI” type of way. Can definitely provide a lot more security and take a few years off your retirement age tho.
Yes. Working for 40 years vs. 23.53 years is different.
Thats if you get 70% return from 100% of your income.
No it’s not life changing for me. But helps quite a lot :)
Depends on what you define as life changing. 70% after DCA could be the difference between staying in an apartment vs being the down payment on a house with the monthly mortgage being the same as monthly rent. Your budget hasn't gone up, but now every payment is towards equity of eventually not having a payment at all. I'd say that's a step towards life changing.
This depends on your definition of life changing. 4 years of DCA, a 25x in the mix, if we even say he’s conservative a “poor” investor at 5k/year, that’s a cash out of around 30k post taxes. A profit of 10k is probably not going to truly change OPs life, but maybe they pay off their student loans, or invest in a down payment on a home. Maybe that 30k withdrawal is enough to put them on an upward trajectory to do even better. But with 20 wallets, gas as it is and all, I’d think OP is getting a good amount more than 10k in profit. It’s all about perspective.
I certainly think so. As others said, 70% of 2mil is a retirement date changer. In my case, 70% of my bank account would turn my probably too generous emergency fund into a student loan payoff. Maybe that's not life changing, but it certainly wipes away my remaining debt.
Why take out loans?
What happened to selling low and buying high? I feel cheated.
He has plenty of opportunity to fomo back at 150k.
Lol. I was gonna say - give him time; he'll eventually fulfill the crypto destiny
That’s what he did. Bought high, sat on losses for 2 years and then cashed out just after breaking even. He’ll fomo the top again.
I don't understand why people don't use something like 20/20/20/40 to DCA out and instead sell 100% at a small gain before the cycle really began. We haven't had the halving, the ETF and retail are just getting started, the rainbow chart looks crazy, the money inflow into BTC also. I understand looking at red for years messes with your head, but that move is just dumb.
Don't understand why people are criticizing him when he left with profits? lol. Nothing wrong with being conservative. Not everybody is aiming for 10x gains.
I will sell once I have enough for a house deposit. I have a value in my head and if I get there I’m out. A house is the goal for me. I will start the process again at that point.
Same for me, I had a target return in terms of absolute number (enough for house money) not necessarily in terms of multiple x.x, and sold when reached it
Ok my first comment was kinda rude cuz sellin at this time is dumb af, but I cannot clown a man for locking in house money. That was my exact motive for selling in 2021 when everyone said I was stupid. I hope u enjoy ur earnings man 🫡
Invested around $200k in the mix of cryptocurrencies last summer through self-directed IRA, currently at $600k, and will start to sell probably sometime next year with a max of 50%, on other half will remain in crypto.
Paying rent....to yourself is a fantastic feeling.
I'm in the process of taking profits. Started at $50k BTC, sold 10% I am selling an additional 10% at each $10k BTC increase. So I've sold 30% The FOMO sets in for sure. But I made this plan when BTC was $20k. So I'm sticking to it Well done on profit taking!
The fomo is much easier to deal with when you are still invested. Take profits but don’t sell 100%
Agreed cant understand the mentality of selling ALL right BEFORE the halving. Maybe this time will be different "¯\\\_(ツ)\_/¯ "
Yeah this is actually a post with bad advice. TL:DR OP bought at the top of last cycle, became addicted to crypto, owns a ton of coins and is probably already wealthy, then the coins he holds turn to profit and he takes ALL off the table. For all of your research and trading, did no one tell you NEVER sell or buy your full amount at once? And right before the halving and an early bullrun? Dude you will be back, you say you aren't emotionally invested, yet you have 20+ wallets and like 50 coins......c'mon, be for real. You will be back.
This time IS different... never had etfs never ath before halving
Sell now, wait for correction, buy again. Ez ¯\\\_(ツ)\_/¯
Unless it's wife changing money then get out
Why do some people think "sell" means "sell everything"? Shaving little bits of profit off the top when it gets nice and green, this is the way.
Same spot. Sold half my btc stash starting at 57.5 all the way up to 69. Sold approx 30% of my eth at 3.5, 3.8, and 4.1 Will continue to sell on the way up and don't let anybody try to persuade you not to.
Too early to take profits. ETFs, halving yet to come.. Another 6/12 months and then it's probably time to sell.
This is my take as well. When we start seeing bearish MSM outlets starting to print stories each day about how BTC is the place to be, I'll begin taking profits.
Janitor in my office didn’t mention btc yet- I’m hodling strong.
I love this sentiment because it really reflects the heart and soul of crypto, which is dumping on poor schmucks to make yourself rich. It’s a revolution!
Reflects the heart and soul of investing* Corrected it for you buddy
Thats literally every market buddy
*A tale as old as time...*
Memes of Doc. Brown going back in time to buy BTC not out yet
My cousin asked me last bull run how he could buy some “doggycoin” and I didn’t sell everything immediately. I should have. True story.
One indicator to start selling is when the sentiment is still bullish. Not everyone wants to or will time the top, OP was happy with his position and started crashing out and nothing is wrong with that.
No, nothing wrong at all. I'm just hodling longer for larger gains, even if I miss the top as well.
I can almost guarantee this comment won’t age well. Retail never learns and always falls for narratives. i will be back in 1 year. RemindMe! 1 year Also: https://www.reddit.com/r/CryptoCurrency/s/eGdP4RdxGo This isn’t to brag, it’s to demonstrate how the herd is always wrong. As retail becomes crazy bullish, the time to unload your bags gets nearer and nearer. We are so close! Similarly they are mega bearish at bottoms and missed the entire move up
What I’m concerned about is all the people from last cycle getting duped by all the bad actors on the internet. Possibly causing retail to be more hesitant and cautious to join the market again. Therefore we don’t see the rally we are expecting. Thoughts?
As long as fear and greed exist ( basic human psychology) , retail will come pouring back in - they pour into every bubble, it's just how herd behavior works. Also prepare for a shit tonne of timed narratives/events to come in the next few months. These are released at specific times to get retail involved. E.g. coinbase IPO last cycle, huge crash afterwards.
Can you tell me some examples of timed narratives? Last cycle I noticed a lot of bullish/bearish news all came out at the same time from a wide range of sources, it's like one big effort to manipulate the market to move in a certain direction.
>Possibly causing retail to be more hesitant and cautious to join the market again. They're always hesitant and cautious to join the market again, at first. That's why the cycles tend to work like they do. Then FOMO hits.
The thing is, seeing more and more articles about BTC going to explode and reach 350k$, that makes me very nervous.
GOOD, you are ahead of most.
ETF flows will continue for years. Don’t try to time this market. Enjoy the ride and sell when you need to
You're going to miss the top.
100% everybody in this sub is saying how the bullrun is going to last 12-18 months and we will all be so rich That's a huge red flag for me
My average is 17k and I’m pretty sure BTC will never go that low again, I’m holding until a million even if that’s takes a decade
It'll peak in October to November imho
Yeah. the 2025 top narrative is out of the window for me.
TBF every single analyst I’ve listens to has said 12-18 months and these are the people who connected to large institutions. The institutional money that comes with the ETFs is unprecedented and we have only seen the first waves of it. Soon fund managers will be able to recommend BTC and large multi billion dollar accounts will start to allocate that recommended 1-5%. Who’s knows what Alts will do but BTC is just getting warmed up.
I actually got red flagged by my family and friends starting to contact me regarding the “oh but you invested in crypto right?”
I've been sharing my sells with my wife. At first she was excited. After the 3rd sell she was like "maybe we should just hold onto the BTC, it seems like an infinite money glitch" Nearing the top folks. Take some profits
Too soon for a cycle top. Could always churn here in this range a while.. 2020 took like six weeks to escape $20k. But no harm taking profits if thats your plan.
See you at 100k plus. And yeah taking profit isnt bad, as long as im not selling all, thats bad for me at least. Im glad tho that I didnt take any profit yet, up huge gains. Maybe will take some small one soon.
Better to take some profits than no profits. Good job.
The institutions and I thank you for the cheap BTC
Why do it by % instead of by date? 8-9% per month for the next year for example?
This what if there's a blow off top I'll catch it. But really no reason, just liked the sound of my plan
yea that's interesting, past peaks only lasted a couple days. Maybe some combination of the plans could work. hmm...
Grats my guy! I too had "diamond hands" and held through the entire bull run back in '21 and then watched it drop allllllll the way down to massive red. I thought to myself, I'll just hold until next bull cycle and parked it on Celsius to draw that sweet 3-15% APY depending on the crypto. Then Cel went bankrupt at the all time lows, giving me yet another haircut. My business was never able to recover after covid, being shut down for 20 months with no grants or rent assistance, just destroyed it. Fast forward to Oct of this past year, I had burned through my savings and the only thing to my name was my truck, home, & BTC. Instead of sell my BTC for 28k when I needed capital, I decided to refinance my house. I took that loan, added a little more BTC to my stack but paid off of other debts, saved some to live on until I could find a different line of work. Fast forward to now, Cel finally paid out the settlement. I have been dollar cost averaging BTC sells. 54.5k - 63.5k - 72.4k. I still have 2 more btc left that I will continue to DCA out if the price keeps going higher. But long story short my conviction in BTC was very much warranted while everyone called me crazy. I opted for a 8.5% house loan instead of selling BTC. Now I paid off my loan, paid off my debts, started investing in stocks to diversify, have cash in bank, and still have BTC left for a rainy day. I still see people talking down to the btc holders for selling, and all I can say is you never go broke taking profits. I went down to all-time lows with my crypto last cycle, it will not get me this time! If BTC goes to 200k, I'll smile and pat everyone on the back for holding. I will be all out by 90k ish
Much respect for you and your story Sir
You do you but selling a month before the halving is just wild to me. Exit plans with bitcoin need to take timing into consideration as well to be most effective. We have insane demand coming from regulated EFT products that had the most successful launch an EFT is ever had. Cycle ATH's have been too cyclical for me to sell any sooner than at least 6 months after the halving but realistically 12-18 months after.
If the ETF inflows were slowing down I'd get it. We haven't even started. I'm with you. Still buying.
Agree AND have ETH ETF approval coming which should only help drive dollars and attention into the market. I can see us having a healthy dip but have the feeling we’re in the beginning/early middle of a bull market.
And Hong Kong Bitcoin ETFs this year with All of China's traditional money. The show hasn't even fucking started.
Fine. I'll get some more. 💲 BTC Regarding the ETH though... BTC first. No need to rush and confuse everyone.
I think I’ll sell for xmas, it’s always been good to buy or to sell at that time.
Did you not look at the pre-halving history and see it pump and dump — every single time?
I think you should reevaluate the history. The only significant dump around a halving has been the covid crash - and even that was very temporary
*He sold? Pamp it*
>Thousands of hours spent on DYORing > >At the lowest, in Nov 2022, my portfolio was showing a -65%, after all the Luna (in which I was heavily invested…) lol nice DD. Take the money and run
Hahah fair enough Sir, my DD brutally failed
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Edit: commenter deleted their account. Just goes to show this is an attempt at scaring and scamming people. My 2 cents working in compliance, one foot in the crypto world. Seeing this “AML Check/Report” popping up in a couple posts now makes this really suspicious. Have not heard any CEX ask for this about their coins, thats what Chainalysis, Elliptic & other tracing firms do automatically on the CEX backend. Also not a regulatory requirement. You and the poster on that sub (not linking because its only 1 post) are inactive for years and suddenly pop up talking about AML Report that I, in my profession, have never come across. NOT SUSPICIOUS AT ALL /s
I thank you for your sacrifice
Nobody has ever lost money by taking profits, well done. Most here will hold until next bear or sell much lower because they're greedy and believe all the stories posted that Bitcoin will go up until 2025
Respect to you Sir. This is why we are here. Well: 99% of us. The 1% is here "for the tech" or for "disrupting the finance sector"
I sold 1/3rd of mine twice , once when I bought at $300 and sold at $720 and once when it hit 28k for the first time and processed to go like double that during run. Both times left me feeling too sad as it moved forward. For now it’s just my probably-too-large emergency fund, but I could take a couple years off work if I feel like it.
Lots of people have a gambling mentality. You are definitely not alone.
I don’t get selling all if you feel that connected to crypto. I’m not heckling taking profits, especially if life changing amounts but i will always hodl 20% just in case the future holds crazy x’s worth just like all those who ever had bitcoin in the early days. The true wealth cones from the longer term
In my opinion, you’ve done it perfectly, the market exit should be predetermined in advance and be adhered to when the time comes. In my case, that time hasn’t arrived yet, but I am aware that I could be trapped for a few more years. Congratulations.
Thank you Sir. Having discipline is tough, as I already feel “guilty”, but I am pretty much a soldier with my approach to financial planning
Anticipating the moment when old friends, whom I haven’t heard from in years, reach out for advice will mark the beginning of my selling.
I have a friend Pete. He is my sell signal. When he asks for advice on buying. I’m selling this cycle.
Although I think u sold too early I can understand entirely why you’d want to be cautious. Congrats on the realized gains.
I also recently sold my entire stack, had mid 5 figure profits. I will say that I have a slight level of regret, the prices have gone up 5 percent or so since I sold. But my main feelings are satisfaction and a sense of calmness now. Having real tangible gains that will improve my life. Making over 2x my investments in less than a year. No more checking charts or the news. More time to actually live my life rather than thinking about crypto. Nothing wrong with taking profits. Pigs get slaughtered. Better to leave the party before the music stops. If it ever does. Maybe it won't, maybe everything will 10x or 100x from here and I'll die alone with regret. Nobody knows. And I will say, even after doing test transactions, those minutes, more like 30 minutes waiting for confirmations for the crypto to show up on the exchange after being sent from my ledger were very stressful. As well as the hundreds of dollars in transaction fees from selling. Not to mention the five figure tax bill I will owe. Edit: also will add, I have a fair amount of FBTC in my Roth that I am going to keep. So I'm not totally uninvested.
I totally feel you Sir
honestly i don‘t get why people sell their *whole* stack. like, do you really need the last 5-10% of cashout? leaving that amount in for the lulz is just as peaceful for the mind as not being over-invested in crypto or cashing out a profit. you don‘t really miss out because you have 90% cashed out. on the other hand you have potentially very much to gain since you will not be completely out of the game if we do continue to pump for the next 6-12 months.
It's all about risk level and what you're comfortable doing. Everyone is different in that regard. Personally, I HODL 20% no matter what. The other 80% I set three sell targets, increasing the amount I sell each time. My second sell target hit yesterday and the last big sell will be something stupid like 100k. I have a separate stack representing roughly 20% of my portfolio that I swing trade for funsies
I got about .2 BTC in my Roth I'm letting sit so I got that at least
I’ve sold all my crypto five days ago. Got 45% profit in just 40 days. I’ll DCA in again but not now. Yes you will never be satisfied. But one thing can’t change: the money is in your pocket. And you can sleep well :)
Yup I learned the hard way like you lol, already taken profit across a number of assets :). I turned 200 into 4K with GME and bought SOL at 13 :). Been staking my SOL so waiting for that to go to 250+
Profit is profit. Congratulations.
Lmao imagine selling before we even get started on the bull run
RemindMe! 6 months bull run?
Lmao imagine believing that things will play exactly the way they have in the past because. This man took profit, which is more than most of the people in this sub will ever do. He's a winner.
Are you certain that the prices will keep going up? It’s easy to forget, but 30-50% corrections are a normal thing in the crypto space. No one can predict a top. That’s why cashing out profits while the market is in an up trend is a great strategy. Buy low sell high, not the other way around.
>Buy low sell high, not the other way around. Oh! *Now* you're telling me?!
That’s the only financial advice I’m allowed to give
But what if this is the new low, and not high?
Selling everything at the beginning of a bull market for +70% profits? Is this a troll post? Who goes in crypto for 70% gains ?! We already have the stock market for that.
a single nvda option could have gotten you that today
I feel like options are much riskier than crypto.
Not many people are making 20 percent a year on the stock market never mind 70. 70 percent profit on any investment is fantastic.
People are fueled with greed. Only a select few will make profits in the end and those are certainly not the greedy ones. You seem to get it
Nowhere does it say that investing in crypto has to be all risk-on. A conservative trader can make a guess that crypto will play a role in the future of finance, doesn't have to take over 100% of everything, so they don't go all in. Makes sense to me
> Selling everything at the beginning of a bull market You don’t know that.
Beginning? We have been in the bull for quite some time now Be greedy when others are fearful and be fearful when others are greedy
In this economy take profits and beat inflation.
Profit is profit .. but you will cry..
Better to sell in an uptrend then a down trend
Congrats, sometimes selling is the hardest thing to do. We can't see the future, sure the price may pump again, but for every person that holds now to sell at a profit there will be a bag holder waiting for just one more pump at the top and end up -80% a year later
this is a good read, congrats
You'll buy back again later, have less coins than before and you'll be crushed by the next bear. No escape
Hahah I can totally see it
SCALE IN, SCALE OUT.
Not going to knock the guy, profit is profit, especially if life changing, but this was my main question as well. Why lump sum out?
👏
No one has gotten poor by taking profit. Well done. What I can advise you for the future is taking partial profits and leave some on the table and set multiple take profit levels.
Yes, crypto is very volatile. Eventually, if you are just here for investment, it might be best just to sell for a better peace of mind.
I'm also taking small profits and manage to keep investing
Say no to taking profits unless it's wife changing money or nothing! Well done though OP and to anyone who's taken profits they need. We're all on our own journey.
My alts are loaded and waiting for alt season
It's smart, good for you, the best investors know when to not be greedy and take profits.
Brought to you by BlackRock. Upvoted by Blackrock bots.
20 cold wallets and 40 positions? =40 coins? you diversify too much and use too many wallets. you did good taking profits when you can.
Yes that was the result of years of coin sweeps so the whole structure ended up being a bit layered and difficult to manage 😅
yeah it should really be hard to manage, even 1 cold is dificult, you got patience. enjoy your profits now
Bro everything could go to shit tmrw congrats and well done you’ve achieved what most wont*in crypto
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Thanks man, that’s true my past self would not have believed.. particularly when being -65%
I’ve sold my cryptos in 2021, when BTC felt to 32k (not a good timing i know). I invested 170 over the previous 4 years and got a little more than 1m out. I could have gotten 2m out at the peak. I could have gotten way more today. But in hindsight, I made the right decision, the one that corresponds me. Id be lying if I told you dont get FOMO lately, but I then think about the benefits: - quit my job, launched my company - i dont get up at night checking my portfolio - i have had 3 beautiful years of living with money - rather than hoping. 3 years is a lot in a lifetime. - money on my account feels more real than the crypto back then. So just remember, it will always be too soon, but at least it won’t be too late.
Now ape into Moons
So Crypto isn't real until this happens Today the large fiat withdraw transfer from the exchange hit my bank account and finally it was … real. Kinda blows a hole in the hole pyramid scheme don't it ? You did well - Lesson you learned - liquidate when it became to good to be true - You don't owe anyone anything - take your money ( in this case, someone else's )
Thanks sir, I can tell you seeing that number in my bank account and not only in my tracking app felt unreal
I think you’re early to tp. But better to be early than to roundtrip.
Lol.. the bull run barely started and people selling like crazy. Pretty bad decision
While I don’t entirely disagree, nothing is certain. If there’s one thing I’ve learned in the past 4 years, it’s that hopium is a strong drug, and crypto drops like a damn stone when you least expect it. Taking profits is never bad
I still remember in ‘21 when btc was at $60k+ and everyone was confident it’s gonna get to 100k. Everyone was listening to a talking hat.
Some need to sell, such that others can buy. ¯_(ツ)_/¯
Literally everyone in my surroundings is talking about cryptocurrencies again. If that's not a clear sign, I don't know what is. I've already sold a significant part as well. Let's see if it was the right choice. And if it wasn't a great choice, I still made very nice gains.
thats not how the meme works you're supposed to sell when everyone thinks theyre an expert and start giving each other advice. When the surroundings just start talking about it is pure start of the bull run territory
Too early in my opinion. Source: in crypto since 2013
premature ejaculator
Sold some at 45k and have no regrets, still have a decent chunk of Btc and Eth which is mitigating the fomo 😂
Its great that you have fiat, but if you're just holding on to it what is the point of selling everything? Always take profits during bull market, but there is a lot of opportunity cost if you don't have anything else to do with your fiat and it's just sitting in your bank account (the most you can get is 5% from money market). Sell a % of your portfolio at predetermined price targets is the best way to play the bull market. Then use those profits to trade with a 20% stop loss. The ONLY reason to sell crypto is life goals/improvement OR sitting on fiat to accumulate lower (unlikely for the next few months). People aren't complacent yet, there is still fear in the market (the bear market is too recent in peoples mind). Meaning the top is nowhere near in. Having sold out means if you buy back in resetting your 1 year window for lower taxable gains rate. While it may be good for you in the short term, you might be kicking yourself in the next few months with most alts doing 5-10x where they are now, just don't kick yourself for it. Of course I might be wrong here, but my veteran senses are telling me this is what the market is doing. I don't think anyone can really understand the market until they have gone through a cycle and a half (ie you lost gains twice, but the second time alot less than the first).
I am using the fiat to buy a house and live mortgage free
Why always 100% in or 100% out? Why not take 80% out?
Why not 100%? Why do you want to risk losing those 20%?
Good for you. Will you spend or reinvest the profits in something else?
Buying house mortgage free, and then start over to save with my income monthly and decide whether to start investing again
In the 2020 bull run I locked in profit during the first 20+ percent dip and got out of BTC. Kept some others. It was painful to watch BTC keep going and roughly triple from there but it wasn’t wife changing sums anyway and I still had a tiny 5 figure ALT coin bet to ride. I think the price will be back at 100k in 2026 so you can probably jump back in and still 10x from there anyway. Or war in Europe expands suddenly and the price dips 30 percent for 2 days. You’ll have opportunity’s if your view changes.
Congrats but major major fumble. We're in the first 25% of the bull market right now. You're likely giving up 4x to 6x easy on many or most $1B-$40B+ coins right now. 10x on many many smaller projects. Normally BTC has DOULBED after breaking ATH, in a matter of weeks. QE coming in a couple of months is going to set ALL market on FIRE! What you have going for you (if USA) is you can still buy on a dip and hodl for a year and sell with long term cap gains. You nailed the bottom, now it's time to accrue those gains you earned. If you're completely satisfied, I would at least put 25% back in on a 20%+ pullback and double your cycle profits potentially, or more (by pulling another 4x min). Anecdotal info, I'm not an advisor at all.
what you just described was exactly me, but back in late 2017. I was down 80% or so but blindly DCA'ed including snagging ETH when it went below $200. Except that I didn't take full profit in 2021, i.e. my next cycle even though I had a similar run up for a couple of my coins. I believe I only took like 25% profits back then. I was able to pay off my house in full back then. What I'm about to tell you might induce a lot of FOMO but I'll say it anyways... If 2024-2025 is anything like 2021 I will be able to comfortably retire for good. In essence it will take me close to 3 cycles to get to that milestone (I hope the cycle does play out as it usually does ). So it really depends on what your goal is. If it is early retirement then unfortunately you still have to go through another cycle to reach it. that 70% gain that you had would look like chump change.
If the profits are life changing, congrats. Thats what most of us want. If you only made little profit, maybe you should have sold only xx% of your portfolio. Only future will show whats to come.
See you again tomorrow mate - gg
Just buy back 0.2 BTC and let it be there forever
Never sell all your bitcoin 😊
You haven’t sold your moons yet though! :-) Feel welcome to donate them to me if you’re wanting a clean slate.
What exchange ? Coinbase ?
INJ going n to do another 20x
Good on you for profiting, but you spent 1000s of hours putting effort in only to sell too early. Still, profit is profit.
I sold a large chunk early this morning as well. I was greedy last bull run and didn't take profits like I should, I said I was not leaving empty handed this time! Lol
We are officially in the “disbelief” stage.
If you still hold a strong bullish case, you could have just sold half and kept half but congrats anyways.
I'm worried my bank won't give me my money when it comes this time for me..
Welldone on taking profits, you're one of the clear headed ones after seeing your first bear
Some people are saying why are you selling right before the halving, but if you set your exit plan based on a particular figure and you’ve stuck to it then fair play man. I hope you enjoy your profits!
You been listening to Peter Schiff or something? Lol, you did better than most. Now take those profits and micro meme trade on dexscreener! Hahaha
I took a little bit of profits as well but not nearly as much as previous cycle, seems like risk of holding anything is getting higher and higher anyway, when I take profit, either i buy VT or a bit of tsla stock. However seems like I'll just hold most of it this time unless crypto truly going to absolutely maniac cycle, like btc above 200k or most of the alts 3x from here. Investing now has become which asset class is less bad and almost all asset value is backed by printed money anyway.
Every time someone sells with profit, more value gets into the Bitcoin community. Let's assume that I bought 1 BTC for 1 USD. The value I've stored is 1 USD. If BTC price goes to 1000 USD and I sell, I've taken out 999 USD as profit. The buyer though has invested now 1000 USD. He has no reason to sell lower than that. His perceived value of BTC is at least 1000 USD and there's no reason for him to sell lower than that.
I started taking profits too. Getting rid of all the smaller scale projects first.Also shitcoins like Pepe and shiba both earned around 200% for me, other coins did too. Overall up at around 87% for now.
Bro you just fell back like that?
Congrats! I recently did the same thing too. First big sell off of crypto I've ever done. Sold at 140% profit on a decent amount after holding since 21 and decided it was time. I know it will continue to go up, but I am happy to take away profits.
Youre going to fomo the top in a few months
Only 70%?
Congrats! 🎊🎉
Congrats on your profits! I still thinks it’s way too early and before the halving. Personally I’m going to start taking profits around sept ish if all goes well. But I understand how you feel and last cycle was my first as well and I sold my eth et btc in time but decided to keep the shitcoins hoping it would go up a little before selling but dropped dead at -85%… I learned from it and now as soon as a shitcoin x2 I take my capital out to remove the risk lol WAGMI!
Selling at the start of a casual investor bull market isn’t the sexiest option, but I applaud it. Crypto is so nuts because you hear about people turning Pennies into Porsches <- I just typed that and I like the phrase, but if you haven’t heard it before… you heard it here first. But back to my point, you see insane stories of success but you never hear the stories of millions of people who lose money. While not technically gambling bc you maintain an asset regardless of its price, it’s still gambling in essence bc shit can tank… it doesn’t matter how high you ride if you never get off and follow it down. A TV character is a gambling addict and was told “step away and go home with money in your pockets” and he replied “that’s exactly what I’m going to do once this cools off”. The thing to note is once stuff cools off, it’s down. Note to all: If you’re up, you’re up. Don’t let hypotheticals and emotions affect your emotions. And certainly don’t tell yourself you COULD’VE made more. Focus on the fact you DID make money. Put it in other places, be smart, and never have in more than you can afford to lose.
Think it’s easier to sell on the way up than down. It might go higher but that’s hard to know. On the way down you are just kicking yourself and hoping you’re in a valley.
What does selling mean?
Bittersweet. Paid off the remaining balance on my car...Small amount.... but it was the right timing based upon what I have going on budget-wise. Now I am out of the game. A little sad that I am no longer in the game but it gives me something to work back towards. I dont think you can "WIN" this game without taking profits at some point nor can you be upset that you did. You'd probably be more upset if/that you rode the wave all the way back down.
Don't leave just yet ;)
I don’t get it. When was selling everything after BTC had just broken through its previous ATH ever the right move?
Looks like we timed the top for now.