I've already heard from so many different people that they're preparing or have already sold some Bitcoin.
Selling BTC here seems like a mistake to me. But it's all about perspective. Some people have bills to pay or other diversification needs for their portfolio, so taking profits can be a smart move in the right context.
Just the Start
At $350B USD for the total market cap for BTC, the market is still tiny.
I just heard this today:
- At 100B, BTC was nonexistent to major institutions
- At 200B, BTC became a fringe play for a few of them
- At 300B, BTC became interesting to take a look at
- At 1T, BTC will become something they can't ignore
Once you hit $1T, it takes care of itself. $5T likely won't be far behind as we see these massive money managers jump into the space without hesitation.
Needless to say, we're just at the beginning of this bull run. Strap in.
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Will be interesting to see where this cycle leads us but selling right now certainly feels like a mistake to me. Money needed to pay bills probably shouldn't be invested in Bitcoin in the first place...
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The risk/reward certainly seems to be on the upside, even after such a massive run.
Sure there could be a pullback in the near-term...I don't think that would be surprising.
However, in the longer term, with all that is going on, it is tough to not see higher levels.
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I expect to see a pullback as well, eventually this is always going to happen. But long term, I'm convinced we'll see quite sore more growth.
Much like with Leo/Hive, I'm not going to sell any time soon. I'm not in a rush...
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I am of the same mindset. I keep accumulating LEO and Hive as well as adding to my Bitcoin exposure through GBTC.
If there is a nice pullback in Bitcoin, I will add some more GBTC to my holdings.
Quite honestly, I see this the potential for life changing money.
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This is my thought exactly. I don't need the money I have in cryptocurrency. Selling it right now would net me some amazing profits, but it would not change the way that I live or look at money in general. By accumulating what I can over the next 5-10 years, though, this may change into an amount that would actually impact the rest of my life.
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Perhaps I am foolish but I am living by the "go big or go home" philosophy.
The last thing I want to do is to be right and make a few grand (or even a few hundred grand) of this. To me, it is an amazing opportunity for incredible wealth generation, I want a part of that.
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I consider selling at this price level similar to selling at the end of 2016. you kind of miss all the fun, but as you mentioned, some have bills to pay and other obligations.
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That is true although that type of money probably doesn't belong in Bitcoin at this point anyway.
We could just as easily see a 20% or 30% pullback in a very short period of time which would make paying those bills tough.
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I really feel like we're up to experience something truly exceptional!
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It's how I feel about 2021.
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This is a huge statement considered we just when $3000 and change to $20,000.
Yet I am not going to dispute your analysis. At this point, it is crazy to bet against Bitcoin. Higher levels appear to be in the cards.
A $1 trillion market cap for Bitoin is still about half the size of Apple.
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But it makes a lot of sense.
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While I agree long term, price is still at major resistance on the daily chart. If you were going to take profit anywhere, then this is it because the downside risk is just as high right now.
This is the beauty of a market. Everyone has their own strategy and timeline :)
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