Why You Shouldn't Touch Your Bitcoin

So, when you run out of cash and think you can just sell some of your bitcoin, that's when things get risky. If you have bills to pay and you've earmarked some of your investments for it, make sure to cash out only when the market is doing well. If you wait too long, the market might drop, and you could end up in a tough spot, especially if payments are due soon. Honestly, the best move is to just hold onto your bitcoin investment until you’re absolutely certain you want to withdraw either a portion or all of it. This way, a market dip won't hit you as hard. But when you've got bills piling up and the market's down, it's tough to just sit tight. What else can you do if you’re broke? It's super important to keep some cash on hand while holding your bitcoin, so you don’t have to dip into those investments. No matter if the market's climbing or crashing.

Before you invest, it is important that you set up a plan for what you're going for, this includes the amount specified on the investment, your other category of money to be used for daily upkeep and that of an emergency fund altogether, the relevance of getting all these into consideration is to help your investment achieve its targets to maturity, when it could have been more profitable, because you can't afford making your investments to hold, then arises some needs you can't afford to hold than to take from what you have invested, not minding even selling at loss.

You only can do it and easily do it if you did well before your investment beginning. As you knowing importance of only using your spare money, your discretionary income for investment in Bitcoin. By doing this at your investment beginning and during investment practice that should go a long time, you already prepared enough money to use regularly and for emergencies as well. If you can do this, you will not have need of selling your bitcoins while your life quality is still good and when you are comfortable with your life and investment, it's more easily for holding your bitcoin very long time without stress of source of money for spending, and without pressure of selling your bitcoin. Then you can consider this good withdrawal strategy. [ANN] JJG Sustainable Bitcoin Withdrawal Strategy.

First of all you're advised not to throw everything into Bitcoin during your accumulation journey. After identifying your discretionary income from your gross, you can go ahead and split it into 50, 30, 20. 50 going into your Bitcoin buys, 20 for building emergency fund and 30 for other variances of backup funds and floating cash. Your bills are part of your expenses which you need to have considered and planned for it earlier before allocating funds into Bitcoin. In this case you're a victim of bad cashflow management practice and you may be left with no other option than to tamper your portfolio for survival or you can go for a loan as long as you know you can pay up with other sources of income apart from timing Bitcoin to rise in price so that you sell and pay back.

Why keep it simple when it can be complicated? Some people who see Bitcoin only as an investment may, like the OP, look for ways to "keep the wolf full and the goat whole", but if Bitcoin is a cryptocurrency, then there is nothing wrong with using it regardless of the price. It would be ideal to always have enough money so that you don't have to touch your investment, but life is unpredictable and sometimes things happen that force us to do what we wouldn't do otherwise. I would conclude that you should sell when you need it, and buy whenever you have extra money.

That's why it's important to set aside emergency funds when investing in Bitcoin... by having an emergency fund won't force you to sell your assets during a market downturn just because you need cash. You can handle unexpected expenses and avoid having to worry about finding the money to cover them. This way, your investments won't be affected, and you won't be tempted to sell just for that need.

That's right, but in my opinion, that's not all. Investing in Bitcoin should be part of a personal financial plan, the first step of which must be to monitor income and expenses in order to generate a surplus that can be saved or invested. Then set up an emergency fund, as you mention, and from there you are free to invest whatever you can save. Many people jump into the latest investment trend without following these steps and end up selling at a loss.

It doesn't make sense to sell all your Bitcoin or half of your holdings even if you really don't need all the funds. To me, if you can hold until you reach your goal, then just hold. If you can take profits in the meantime, you should take them. For example, a few days back Bitcoin was above $126K; it was an ATH at that time. So if you sell there now, the Bitcoin price of $110K means if you are holding one Bitcoin, then you will have good profits already, and still you have your one Bitcoin. But I don't prefer to sell one Bitcoin for your $100 needs. Whenever I need to spend Bitcoin, I sell what I just need from my holdings. If you are afraid about market decline, then do what I said above: try to take the profits. So during the decline you should worry about it and may fill your needs. I am talking about Bitcoin, not some shitcoin. Shitcoins I don't even prefer to hold. You may trade them only for a short time also from the top listed.

It's a very common thing and must be understood by every investor even before they start making investments. If you know that an asset is volatile, and it can go down as well, you shouldn't invest money in it that you think you will need in the near future, because if you invest the money, and the asset loses some value, you won't be able to withdraw your money. So, expecting guaranteed returns or consecutive profits from a volatile asset is idiocy. You can't expect an asset to keep going up only, what goes up has to come down, as they say. Money that goes into investments, whether it's crypto or anything else where it's being invested, should only be for that purpose. If you don't have extra money for investments, don't think you are going to use what you currently have, make some quick profits from it, and withdraw it immediately, because so many people get stuck because of such thoughts and mindsets, and then they have to wait for so long before they can withdraw their money, or simply sell at a loss because they need the money urgently. So, be wise when making investments, and don't build skyscappers in the air.

It's not wrong if you want to take a slash out of your entire holdings when it will be put into good use. That's the purpose why we're investing so that we have some funds to be used for any other important purpose that it can be. But I understand the importance you're saying, if someone can do that and endure of not reducing their holdings and not selling it much better. Yet, if that's the only choice that you can do to save you from any bad financial situation at that moment, then that's a good time for selling.

Holding is the only way we can make money as a Bitcoin investor but many don't still believe it and all they care about is to buy and sell immediately the price of Bitcoin goes up or appreciate. It is important we know the value of what we have and those that has been holding Bitcoin for many years have nothing to regret so far. As you hold, you don't have to buy Bitcoin with funds that are meant to take care of your needs. It is better to use part of your savings to buy Bitcoin than using everything so in case you find yourself in an emergency.

It is not even advisable to take all your investment or half of it when you have reached your target that you wish to accumulate regardless of the amount of profits you have been able to realize. While investing in bitcoin, it is important to develop a sense of urgency so that it will enable you to keep some funds in case of any emergency needs that may arise. Bitcoin investment is not something that you will invest and start selling when you need money to take care of an emergency situation. Except that a need has surpassed the amount you kept to attend to an emergency that is when you can sell a part of your holding otherwise it is in better to leave your bitcoins untouched.

There are circumstances whereby regardless of how you try it, you are always going to be left with the option of spending your bitcoin because that is the only option that is available. it is not even reasonable to hold bitcoin and at the same time allow yourself pass through hard time without touching it al. when there is a need to and you do not have any alternative to make use of, you can spend your bitcoin to sort things out. that is part of the thing that is associated with holding of bitcoin. Set the right investment plan such that touching your asset becomes difficult but if for any reason all the things you have set out as defense to your holding doesn't still help, then there is nothing wrong in spending your bitcoin when it is inevitable to do so.

If people trust you, you can borrow money (assuming you have work and have an expected incoming funds from your work)  If there is a lending company that see you as potential client, you can ask them for loan if you don't want to bother your friend to borrow money.  Or sell your (in great condition) appliances for less than half the price for instant money.  Or look for people who needed your skill for instant payment, like repairs or plumbing works.  I think that are the options one can do when he is in need of money but don't want to sell his Bitcoin investment. True, the scenario you had given is the worst nightmare of an unprepared investor.  Having not enough money but decided to get all-in for Bitcoin and later stumbled upon an emergency need, and there is no option to get extra money, for sure, that person will eventually sell his BTC no matter what the condition of the market is.

there should be nothing wrong with wanting to spend bitcoin it is its purpose from the start anyway there are people who really villainize others who spend their bitcoins and encourage hodling which there’s also nothing wrong imo, it just depends on your own preference and your own goals and most especially if you can afford to be hodling stop following others down to the t it’s okay to make your own decisions too

There is another way in which if the price of Bitcoin is low, then if we invest more in it, we can cover our previous loss. If this does not happen, then the method you mentioned will be successful. Obviously, at this time Bitcoin is flying its flag among quite a few big companies and if I say it down, everyone will say that Bitcoin potential will end, but it is not like that, this is a good and better part of its development, which takes it down and later makes a good ATH. This is only for us who have not achieved it, due to which they are looking at a good price where Bitcoin last moments are. I do not understand one thing, those who are holding Bitcoin, if they sell everything at a good price, the price of Bitcoin and the market will fall, which shows that Bitcoin can never be sold together.

When your bitcoin is the only option you have to pay your bills, when certain urgency comes your way, you are already exposing your portfolio to danger and you are likely not going to achieve your target, as you will keep turning to your bitcoin to sort out yourself.  As a bitcoin investors that has an aim of holding till your desired numbers of years, you should have a cash reserve that you can always turn to when you're in need to sort out little things you didn't plan for. As your pay cheque comes either weekly or monthly, certain amount of your discretionary income should always go to your reserved funds and emergency funds, don't use all your discretionary income to buy bitcoin. This will help you not to be dependent on your bitcoin portfolio.

I have been in this same situation on different occasions, but have always made a way out for such scenario. When it comes to my investment funds, I don't often touch it, mostly when the market is down, because at this market situation, I feel I am running on losses if I touch it, having seen where my portfolio has reached after the recent ATH on my asset holdings. Because of situations like this, when the market has gotten to its peak, I take out little profit for emergency purpose, and this process has been very useful for me for a long time now. Also, as an investor, you should also have something that is giving returns, either daily or monthly, that will help keep your hands off your investment profits, this process will give your investment to yield more in every bullish trend.

Anyone that didn't believe in holding bitcoin they don't really have knowledge about bitcoin and that is why they will said so. But the fact is that if you want to achieve your goals in bitcoin definitely you need to hold for long term to get huge profit in your investment. Nothing always comes easy you need to face some challenges before you achieve your goals. Getting money is not a easy task, bitcoin will always be favourite to invest and get the believe of getting profits if you are patient enough and keep your target you will surely reach your goals. Saving of  money for emergency is very important and if you don't save money for emergency you will always touch your investment, because you won't have any choice. That is why is very important to have another source of getting money so that he won't affect your bitcoin investment. Some people are just after profit they don't remember that emergency can come anytime, we just need to be thinking well before we do anything possible.

From the outset, when discussing economic concepts that naturally include investment we must have sound financial management so that we can create several budget plans for consideration. After all we are aware that this is an important factor if we want to ensure the continuity of our lives including our investments. When we can manage our finances well, we are indirectly taking a step towards improving our lives because financial management includes everything from planning and strategies for our finances, including, so that when something unexpected happens unexpected situations arise in the future we will still have a good backup because we have financial management that is in line with what we have estimated and planned beforehand. This means that even if we invest in the future, we will not be disturbed by such situations.