We're currently experiencing a bear market phase. How do you intend to secure profits once the market undergoes a turnaround? What proves to be the most formidable obstacle in executing this strategy? If your intention isn't to convert profits back to fiat, kindly explain your philosophy regarding this choice. Newbies in this platform like me could gain insight from your past experiences.
The obstacles are always the same, the volatility and the unpredictability of this market make very difficult to close your position at the perfect moment, still I am sure that many of those that are willing to sell their bitcoin at the top are not really thinking about leaving this market behind for good, they simply want to obtain some profits and then once the bull run is over they can use their cash to buy even more bitcoin than what they had before, while they will retain some fiat on hand they can now use as they please.
The biggest chance for big gains is during the halving and taking advantage of the 4 year
cycle between halvings.
Some people over the years have criticised others for not taking profits after the halving,
thats fine but not everyone wants to play that game, timing the highs and lows for absolute
maximum profit is tricky due to the volatility of the markets as per Silberman.
Personally I dont think I would be confident selling my Bitcoin after the halving and
hoping that the market price falls drastically to buy back, what if it doesnt, or if keeps rising
after I sell and falls back to a higher value than when I sold?
