People sell their bitcoin assets due to certain circumstances that is beyond their control. It may be as a result of a need that needs to be met very quickly and they will sell off their bitcoin when they are not supposed to. Share your thoughts.
Is there any situation that would force you to sell your bitcoin assets?
- Thread starter Potuse
- Start date
If I am faced with a situation that warrants me to sell of my asset's, then I would do it to save my head at that point in time rather than looking for other alternatives.
There were situation that made me sell my coins but now I have overcome those temptation. I already have stable income so my online earning can stay on wallet or on website for long. However investment pays.
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Having stable coin in your wallet is one of the best long term investment especially if you live in tue kind of country I currently live, as the currency keeps going down.
There are a lot of things that can make people to sell of their coins. But most times, the circumstances that make people to sell of their coins are beyond their control. It could be as a result of health challenges and others.
If it started to drop in price again or if there was some bad news coming out of the Bitcoin company or whoever owned it. Bad news can tank a cryptocurrency, so if that happens people might cash out, in turn hurting the worth.
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I believe in Bitcoin a lot so I do not see any reason to sell my Bitcoin except I am faced with a life threatening situation. I pray I am not faced with such though. Bitcoin is a very great asset to hold.
I really do not want to get rid of all my Bitcoins whatever the situation is, but if I face a very difficult situation I would consider doing so, on the other hand if there are strong increases in the price I would lower positions, but I would never sell all my Bitcoin.
cuddy
New member
It is very possible to sell off one's bitcoin if you are in debt and you need to settle it very quickly. You will have no other option than to sell the Bitcoin and settle the loan once and for all.
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Yes, loan is very serious something. There's no point in keeping a bitcoin in wallet when you owe the debt. I have a friend who once sell his bitcoin to settle the loan he take to start his failed business.
I have been forced to sell my bitcoins multiple times. sometimes when I am in financial difficulties I end up selling my bitcoins. I cannot continue to hold my assets even if I want to.
cuddy
New member
It is true Because when you have financial difficulty, there is definitely no way you're going to keep holding the bitcoin because you would want to sell it to settle off what is on your head first.
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There was a time I made a plan to hold my bitcoin asset for a very long time so that I can make good profit in the future. Nevertheless, I sold it off because I needed money so badly.
Yes, I waited many years for the price of Bitcoin to increase, but every day bad news about cryptocurrencies was published and their prices decreased instead of increasing. I ran out of patience and decided to sell all my bitcoins
The major problem with crypto investment is you need financial capacity to hold your investment for a long time or at least the market becomes bullish, otherwise, you end up selling when the price is down.
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It is important because holding bitcoin is the best strategy to invest in the coin . If you do not have huge financial capabilities , then you can not hold bitcoin for a very long time.
This is the reason why small investors cannot make money, not just with bitcoin and other cryptos, but else where as well (such as real estate stock market etc.)
Major investment in bitcoin need you to hold it for a very long time if you want to make see decent amount of money . The best trading strategy to utilise for bitcoin is holding for a long-term purpose.
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Of course yes, there are some situation that can force a person to sell off he/ her Bitcoin, when a person is short of cash, but if actually you want to make money through your Bitcoin you can keep the coin so long in order to make money.
There are so many situations that can prompt someone to sell off his or her Bitcoin . However, I have been prompted to sell off my bitcoin when I needed money for an emergency situation.
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