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Edit: Literally nuked $4k+ within 15 minutes of posting this :straining:
 
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ash_1050 said:
For those holding Bitcoin/shitcoin/whatever else now's the time to start putting your exit strategy into place. HODLing to the moon is not a valid strategy.
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Was coming in here to ask the exact question to this answer. Would this be the time to start taking profits?

I'm not very educated in this.
I DCA into BTC/ETH every fortnight as a long term investment. Every info source you come across says just continue dca'ing until that 10 year mark or whatever your long term goal is. To me that seems a bit silly, especially when you have cycles. Why not take profits and set them aside to either buy back in if/when the price dips, or whatever you want to do with it.
If by some extraordinary event this is the new bottom, I'm still dca'ing in every fortnight so I'm not missing out on this supposed new bottom.

In saying this, how would taking profits look with a dca strategy?
Run a statement to see how much you have bought over time and then decide your profit taking % strategy from that?

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md20 said:
Was coming in here to ask the exact question to this answer. Would this be the time to start taking profits?

I'm not very educated in this.
I DCA into BTC/ETH every fortnight as a long term investment. Every info source you come across says just continue dca'ing until that 10 year mark or whatever your long term goal is. To me that seems a bit silly, especially when you have cycles. Why not take profits and set them aside to either buy back in if/when the price dips, or whatever you want to do with it.
If by some extraordinary event this is the new bottom, I'm still dca'ing in every fortnight so I'm not missing out on this supposed new bottom.

In saying this, how would taking profits look with a dca strategy?
Run a statement to see how much you have bought over time and then decide your profit taking % strategy from that?

On SM-S906E using BigFooty.com mobile app
Click to expand...

look at selling fixed amounts at fixed intervals (e.g. BTC $60k sell 10% of your holdings, BTC $70k sell 10% of your holdings etc). Or aim to maximise profit and sell higher percentages each step up (e.g. 5%, 8%, 13% etc).

Or look at stopping the DCA and put that cash aside, think of it as your passive returns from BTC while you let the rest ride.

Or have a fixed price you sell everything at (e.g $100k) appreciating it may not happen in this cycle.

The above doesn’t take into account any potential CGT discount or tax considerations, which also need to be factored in. Ideally this was done during the bear cycle when you had plenty of time to optimise it, but if not the second best time is spending a few hours this weekend figuring it out.
 
md20 said:
Was coming in here to ask the exact question to this answer. Would this be the time to start taking profits?

I'm not very educated in this.
I DCA into BTC/ETH every fortnight as a long term investment. Every info source you come across says just continue dca'ing until that 10 year mark or whatever your long term goal is. To me that seems a bit silly, especially when you have cycles. Why not take profits and set them aside to either buy back in if/when the price dips, or whatever you want to do with it.
If by some extraordinary event this is the new bottom, I'm still dca'ing in every fortnight so I'm not missing out on this supposed new bottom.

In saying this, how would taking profits look with a dca strategy?
Run a statement to see how much you have bought over time and then decide your profit taking % strategy from that?

On SM-S906E using BigFooty.com mobile app
Click to expand...

Does depend also on your position on tax.

Some people are ok with losing a bunch to tax.

Others want to minimise the tax hit by holding it for at least the 12 months.
 
ash_1050 said:
For those holding Bitcoin/shitcoin/whatever else now's the time to start putting your exit strategy into place. HODLing to the moon is not a valid strategy.
Click to expand...
That should have been in place since buying, but still a ways off needing to be executed given the halving isn't even here yet. I'm already shaving off small profits, but won't be taking out any larger chunks until probably 2nd half of this year. My spreadsheet is ready!

For anyone that didn't know, there is a capital gains discount of 50% in Australia if you hold an asset for more than 12 months i.e. only pay tax on half of your gains.
 
BobbyMorri said:
You learn something every day.

The sentiment is high atm, and yet, the interest in Crypto in the general public is still minimal. Heck, this thread dies a death every couple of months.

Most people are risk-averse when it comes to money. That will stay that way. If Crypto is no longer a currency but an "investment, " it will be filled with more losers than winners. Sure, the returns are great, but the losses are also great. And as I said, the market is an unregulated mess full of scams. Hence, more people will lose than win. I prefer a safe place for my money and Crypto as a currency doesn't work or not as good as the current forms.



Stay classy.
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I woke up richer.
You woke up correct.
 
BACCS said:
Yeah, just the largest investment funds in the world, what would they know?!
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They lose if risky things go well and they miss out. They dont lose if broad risky things go bad because the government bails them out.

I.e they invest because of massively misaligned incentives and not because they believe its a good investment (see what caused the GFC).
 
I don't know what to think about where we stand. Bitcoin doesn't normally set new ATH's until a decent time after the halving (from memory around 200ish days). I understand we're not quite there yet, but still.

With the new adoption from ETF's etc, is this just a natural progression and the 'real' bull market still occur after the halving? Or are we having it early due to the ETF's?

I'll probably start taking profits soon. Need to set some sell orders so greed doesn't take over.
 
Shupe said:
I don't know what to think about where we stand. Bitcoin doesn't normally set new ATH's until a decent time after the halving (from memory around 200ish days). I understand we're not quite there yet, but still.

With the new adoption from ETF's etc, is this just a natural progression and the 'real' bull market still occur after the halving? Or are we having it early due to the ETF's?

I'll probably start taking profits soon. Need to set some sell orders so greed doesn't take over.
Click to expand...

Monthly candle is pretty big, wouldn't be surprised if big dip on close.

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Shupe said:
I don't know what to think about where we stand. Bitcoin doesn't normally set new ATH's until a decent time after the halving (from memory around 200ish days). I understand we're not quite there yet, but still.

With the new adoption from ETF's etc, is this just a natural progression and the 'real' bull market still occur after the halving? Or are we having it early due to the ETF's?

I'll probably start taking profits soon. Need to set some sell orders so greed doesn't take over.
Click to expand...
Market dynamic has changed with the ETFs, there has never been demand this high as these people never had access. Do you think clients of a Blackrock ETF even know what a 'halving' is? They just see that Blackrock recommends a 28% allocation to their portfolio and that others who have been in earlier are already up big, so want in on that action ASAP. FOMO for billionaires haha

Not doubting there will be nasty pullbacks still, that's par for the course, but not sure the halving is as super relevant anymore.
 
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