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Hi, Marky Dragons knows Marcus Eikenberry in real life. And the main question: how long should I hold my Bitcoin before selling? Bad mom. Bad mom . Bad mom. OK. So let's see. I have some bitcoins, and you know, the thing is, I'm already in the black. I've already made money on my Bitcoin investments, but how long should I hold them before selling?
What is a signal for me? There are all sorts of...Okay, there is such a thing as FOMO, or fear of missing out. And there is such a thing as FUD. Uh, fear, uh...I don't know, I forgot what the other two letters mean. E-m. fear, uncertainty and doubt. I was so unsure what it was . Yes. And in these situations, which are very common among people who invest, you look at it and you hear people say, "Oh, I sold it when it was $1,000, and yeah, I made a good profit because I bought it for $100, but I regret not holding on longer because now it's worth $15,000 or $20,000 or whatever." And so you think, "How long should I hold on?" Well, I think that for myself...
okay, I'm not a financial advisor, so I can't advise you on what to do. I'm just saying what I'm going to do myself, and you can repeat, ignore, or think whatever you want. You know, the answer is: don't invest anything if you can't afford to lose it. Because you could lose everything. But other than that, I have my assets in Bitcoin.
I have some initial money that I invested in Bitcoin, and I have multiplied it many times over. I'm more than... I mean, I'm three times in the black right now, or even more, and... so by holding them, I'm betting that the price will go even higher. Okay. So, one of the theories that I've thought about, and one of the approaches that I've used before: let's say I have this many bitcoins and all that, and I want to keep multiplying them, but I don't know when exactly to withdraw the money, so what do I do?
A few thoughts on this : since I tripled the value of my Bitcoin, why not withdraw the amount of the initial investment in dollars, reducing the number of Bitcoins, but leaving only the profitable funds invested. So I take them back and completely eliminate my risk. The only thing I'm wasting at this moment is my time.
So, my time and everything else—it's what I enjoy and what I do, okay. I can also look at it this way: let's say if it's up 30% this month or so, let's take half of the profit every month and cash it out. That is, take 15%, you understand? If it went from 10,000 to 13,000 in my asset value, that is 30%, and I want to take half the profit.
Then I withdraw $1,500, convert it to cash and that's it, and continue to do so . You're still growing your base and therefore earning more, but you're also getting some cash in the process. These are methods that allow you to truly minimize risks. I mean, if you get your original amount back, who cares what happens after that?
Okay, I believe that in 2018, Bitcoin will rise to $40,000–$100,000 per coin. This is my belief, and I sincerely believe that I am right, but, you know, there is a chance that I am wrong. And if it grows so much, will I be able to hold it comfortably ? And even if it reaches 100 thousand, will I say to myself : "My God, I have to sell." I don't know.
You know, I'll have to make this decision on the spot. And I really think that when I start withdrawing funds, I will do it gradually, in small portions. And for Bitcoin to have value, like any cryptocurrency, people must use it in transactions, not just buy and hold it. If they just buy and hold, and everyone holds it, it becomes an investment.
And investments are treated differently than currencies. So I spend some of my Bitcoin. I spent a small part of it on various things and thanks to that I have real objects in my hands . So, to determine what's right for you, figure out your risk level, whether you can get your money back, and then just go for it.
Your risk is very small. So, of course, there is a risk of losing some value, but overall the risk on the initial investment is minimal, and no one can call you stupid, because you know that friends, family, or even mom and dad will say: "Oh my god, I can't believe you bought Bitcoin." Oh, guys. You know, all the reporters on the evening news every night say, "This is a bubble.
" "She's about to burst. " "Son, you're going to be left without pants." I really don't want this to happen. I don't want to buy you new pants, do I? OK. That's it. In short, thank you , Mom and Dad. Um, I'm still buying Bitcoin and hoping to make a ton of money. Woohoo! So , if you haven't bought Bitcoin yet, check out the Coinbase link below.
This link will give a bonus to both you and me. So this is an affiliate link. If you click on the Coinbase link below, you will receive an extra $10. If you buy $100 worth of Bitcoin, they will give you another $10. You are immediately up 10%. You made money. And they'll give me a 10 too. You see, I've already received several affiliate bonuses from those who bought, and I really appreciate it.
This inspires me to make more videos about Bitcoin and also allows me to sell or spend some Bitcoin. So, that's all, actually. Click on the link below, buy yourself some Bitcoin, join, invest at least $100, you know, don't invest what you can't afford to lose, because that's going to be bad. And, you know , don't let fear, uncertainty, doubt, and fear of lost profit affect you.
Just go with the flow. Make a plan . Maybe even write it down. So that when you think, “Oh my god, what should I do?” you can look at your notes, read your own advice, and move on. I'm Marky Dragon. Take care of yourself. Oh, and hit the subscribe button.
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