Should I sell my Bitcoin now?
This is one of the most common questions posed by many newbie's in the world of digital currencies. The truth is that the answer should be left to your own conscience and decision making. However, there are very strong arguments both for and against doing so. Hopefully, we can collectively resolve this question based on facts and reasoning.
When should I sell my bitcoins? There is no hard and fast rule here. Basically, you should sell your btc when you feel comfortable with it. This is especially true if you have had problems with your wallet in the recent past. While, in general, this should be done after an approximate 6 month period, many will disagree and feel that you should sell sooner rather than later.
Should I sell my Bitcoin now and avoid future losses? Many will recommend that you sell at the start of each year, as the value of the coin rises each year, while the value of the exchange increases. This is because the value of each unit of cryptocoins goes up approximately 25% on average during each cycle of their existence. When planning your investment, keep this factor in mind.
Should I sell my Bitcoin today and attempt to ride the next bull market up to its peaks? While the value may fall at the start of each cycle, as the value increases each year you should hold onto your hard earned altcoins. This will give you additional profit when you sell in the future when the value goes up again.
Should I buy bitcoin now and ride the next bull market up to its peaks? The ideal situation would be to sell your btc when the value goes up and buy it back when it falls. This is called a "bull market" and has been proven to work time again with excellent results. The problem comes when you try to ride a "bear market" and end up losing money instead.
Why is selling off my bitcoins better than waiting and hoping that it will go up in value again? First, you don't have to do any technical analysis to determine how it will perform. Second, if you know that it's going to go up a lot, you can decide whether you want to sell your cryptocoins or wait for it to go back down in value before you sell them. This can help you make profitable trades in both cases. There is no need to guess and then act on it. By using an exchange that specializes in selling and buying coins, you should be able to sell your btc at a profit.
Where should I sell my Bitcoins? A good place to sell your btc is on an exchange that specializes in this type of trade. There are many such places online, but today, two of the most popular are Bitstamp and Mt. Gox. Both of these exchanges operate 24 hours a day and accept major currencies so you can sell your bitcoins anywhere in the world at any time of the day.
Why should I sell my Bitcoin? Because the value of this great asset has increased substantially over the past year and it now costs less than 50 cents US per unit. If you have invested in this kind of currency, you should consider selling some in order to free up some funds for yourself or to secure more funds for projects you are working on. A good way to do this is to sell your btc in your existing wallet. However, if you haven't saved much of anything to invest with this as your main investment, then you should probably hold onto it until you can.