HomeAnswerNotificationsCustomize Feeds
HOMEQUESTION
Do you need to sell all the Bitcoins that you currently have?
Do you need to sell all the Bitcoins that you currently have?
$0.00
2 ANSWERS

As a cryptocurrency investor, you might be wondering if it's really worth selling your Bitcoin. Of course, in the future we all dream that Bitcoin will become the mainstream currency. Currencies received in large stores throughout the world and currencies that allow us to carry out daily transactions. But, you might ask yourself whether at this time, in the current economic climate, is it really feasible to sell your Bitcoin now? If you are an investor, and save Bitcoin, you might feel FOMO just by sitting on it. Even today, without the feeling of mainstream adoption, there are hundreds of ways to spend your Bitcoin, but just because this method exists, that doesn't mean you really have to spend it, right?

This debate has two tails, in one example, by spending Bitcoin, you will start to move the currency, helping to foster a positive push towards mainstream cryptocurrency adoption and, potential further investment from new investors. But on the other hand, if we sell a lot of Bitcoin for products that we can buy with FIAT currencies, then Bitcoin starts a surge, is that really a wise move? By spending Bitcoin now, can we make it difficult for ourselves in the future? Very likely.

There is no right answer to this question, it depends on various circumstances. If for example you are a whale, who holds a large amount of Bitcoin, you have nothing to lose by spending it and actually, by shifting some of your Bitcoin in turn to help a little economy (which is at least worth thinking about). However, like most of us, we are local investors with small Bitcoin ownership, you might want to keep it, just because spending Bitcoin doesn't really have intrinsic advantages as part of it, currently at least. When the world adopts and accepts cryptocurrency, spending Bitcoin will bring many cool benefits, from cost savings, to faster transactions and even loyalty schemes (thanks to blockchain technology).

$0.00
Reply

This is your decision and no one else can make it or you. No one has a crystal ball on what and where the price is going to go in the future.

If you bought Bitcoin as an investment to make money then you knew that you were prepared to lose it as there are risks attached to any investments. The more volatile the risk the bigger the rewards though.

Bitcoin was at over $20 000 just over a year ago and has been on a  downward trend ever since. for me it doesn't make any sense as it is only just getting started again and it is expected to dwarf the last all time high going forward.

It is your choice though and shouldn't be asking others to make a decision for you as whatever you choose you will have to live with it.

$0.00
Reply