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/biz/ - Business & Finance

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24508647 No.24508647 [Reply] [Original]

So I bought 1.3btc when it was at $7k back in April
In 3 or 4 years I just need to sell it at $300,000?
as simple as that???!!!!
It can't be so easy

>> No.24508703

>>24508647
you misunderstood: in 3-4 years you will see a perceived value of 300k in blockfolio, but your greed will let you aim for 3M so you won't sell, until finally in 5-6 years, when bitcoin is back at ~6k, you will pull the trigger and get out to cut your losses.

>> No.24508737
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24508737

>>24508647
It's not that easy because who knows exactly where the top of the market is or if we will even go to 300k this market cycle.

Look up Benjamin Cowen on youtube and watch a bunch of his videos fren.

Basically as bitcoin gets higher and high you want to slowly DCA out of the market to secure your profits. EG. Selling 0.1 btc at 50k and another 0.1 btc at 75k then 0.2 btc at 100k e.c.t

So if it goes higher after you sold some you can sell take profit at the new higher price and if it dumps lower to where you sold you at least have some profits secured that you can either spend of shit you want or reinvest into the market for more bitcoin.

>> No.24508750

>>24508703
Basically this. It’s all easy when looking at it from afar but most people let greed, fear, and emotions get in the way

>> No.24508782

>>24508737
>DCA out of the market
That sounds good. I will think about it.
>most people let greed, fear, and emotions get in the way
I have no emotions anymore so it won't be a problem.

>> No.24508806
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24508806

>>24508647
Pretty much but it's not so simple because you'll be tempted to either
>sell too early
>sell too late
>sell the pumps
>sell the dumps
>sell to buy shitcoins
>sell to buy meme stonks
>sell to buy boomer rocks
>sell to pay bills
>sell to buy overpriced real estate
>sell to "avoid capital gains tax"
>sell to <insert retarded FUD>
Most importantly
>sell because /biz/ told you to
If you really wanna make it gtfo this board they don't call it (((bizrael))) for nothing

>> No.24508870

>>24508647
Yeah, it really is. Heed this advice >>24508703 if you have a specific goal and you can complete it by selling. Then do so. Buy don't rely on BTC reaching $300,000. It could only go to 50k in 3 years, for all we know. Heed, this advice as well >>24508806

Remember your tax obligations for selling 300k worth of assets though. At that level, you'll only walk away with 70% of your gains.

>> No.24508880

>>24508647
at least you bought 1.3 at 7k. i fucking bought 1.2 at 18500. and i should've KNOW that was retarded

>> No.24509011

>>24508870
>you'll only walk away with 70% of your gains.
77% in my country.
Thank you for the advices. I don't need the money so I will put my trezor in my safe a few years and try to forget about it.