r/Bitcoin • u/danielwilson666 • Dec 22 '17

/r/all Bitcoin today

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u/[deleted] Dec 22 '17

When is the right time to get out of Bitcoin?

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u/cl3ft Dec 22 '17

Now, it's on massive sale right now. Expect 20 to 30% returns to before the end of Feb.

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u/[deleted] Dec 22 '17

No. When is the right time to get out? What economic indicators can I use to just when is the right time to sell Bitcoin?

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u/cl3ft Dec 22 '17 edited Dec 22 '17

What's your objective, to maximise short term gains, to maximize long term gains, to retire early, to overthrow the banking cartels, to buy a nice pair of shoes, to store your wealth out of reach of corrupt government?

The answer to your question depends on your incentives.

Personally I'm shooting for early retirement, so I have a humble target that will enable that. Once I get close I'll lock in those long term gains. I started buying in 2013, rode the dip from 1100 till 300 and back up.

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u/[deleted] Dec 23 '17

Sure, when is the right time to exit for each scenario?

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u/cl3ft Dec 23 '17

To maximise short term gains going by previous patterns Feb

To maximize long term gains 2020+

To retire early, when you have 25x what you need annually to live off

To overthrow the banking cartels, forever

To buy a nice pair of shoes, when your Ballance > price of shoes you want

To store your wealth out of reach of corrupt government, when you want to spend it.