Should I Sell My Bitcoin?

The Author

Ace investor Warren Buffet is not a fun of Bitcoin in fact he has one of the bigwigs who have come out strongly against the digital currency. Nonetheless, he investing principles can help Bitcoin investors in umpteen ways. He states that Investors should be “fearful when others are greedy and be greedy when other are fearful”.

If investors should follow these principles, then this is definitely not the time to sell, but rather a time to buy more. So that when the price starts to surge again you be part of the wind fall. He also maintains that investors should be buying into a company because they want to own it not because of the stock price went up.

But ultimately, whether you will have to buy or sell Bitcoin depends on these questions below.

Are you risk averse?

• If your risk appetite is low then things are obviously not working. But if you like risk then stay put. Some experts recommend selling between 20% and 50% if you are risk-averse.

Do you need the money?
If the only money you have is in locked up in Bitcoin now you really need money to pay your rent. Then you do not really have a choice. Pressing financial needs cannot be solved any other way. However, if you have some extra cash and you think you can hang in there for a while then my advice is that you do.

Do you view this as a quick cash maker or long term investment?

If you invested in Bitcoin for quick cash, then it’s obviously not going well for you and you’ll need to get out now. However, if it’s a long term investment then you should just hang in there and see what happens.

In making all these decisions keep in mind that Bitcoin was the best currency in 2016, where most currencies lost their values, due to inflation, hyperinflation, political instability, and economic policies