Re:Bitcoin surpasses $50K as major companies jump into crypto
by SilverRed on Tuesday February 16, 2021 @06:13PM
(#26160045)
When do you sell it though? If you had coins from 2011, is now the time to sell? What if it goes up 100x next year.
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Re:Bitcoin surpasses $50K as major companies jump into crypto
by dmwallin on Tuesday February 16, 2021 @06:29PM
(#26160207)
Set yourself a threshold amount that you are okay with a 100% loss on, and a periodic schedule based on your risk-appetite. At each interval if you are above your threshold you sell your excess holdings and if you are below you sit tight.
Alternatively you can set yourself a price threshold. For example, sell half your holdings every time the price doubles. Essentially this acts as a log function on your gains in exchange for lowering risk.
There's a ton of room for fine tuning a set of rules to manage risk, as long as you are willing to stick to them.
Re:Bitcoin surpasses $50K as major companies jump into crypto
by petercooper on Tuesday February 16, 2021 @06:43PM
(#26160376)
Personally I would sell what I'd call the "FOMO holding" once it's worth a "life changing" amount of money. So if I held 100 Bitcoin as such a fund, that might well have been years ago, but then I'd also be retired and not care. The sister comment here is more nuanced and surely a better answer, though.