When to cash out Bitcoin?

[Hellopello3]

I bought £20 worth of Bitcoin on PayPal last year when they woukd still let UK people buy it.

I just wanted to see what the hype was and wasn't worried about losing £20 if it went to shit.

Its now worth about £60.

My question is will it go up or shouod I cash it out

I cant buy anymore with PayPal, they have blocked the UK market from buying any due to recent regulations

It's going to go up today and drop again on Friday. So sell it on Thursday

Take out your original £20 then see what happens with rest? The you've effectively not lost anything. That's what we did, albeit with a lot more than £20.

why do you think anyone here will know whether it will go up or down? You've tripled your money. Do you need the money? If not, its such a small amount you might as well just leave it in there.

You can still buy Bitcoin in the UK. Whether you should or not is another question. I have a small amount but probably won't bother with anymore. Maybe if they introduce the e-coin index funds at some point in the future.

You can still buy Bitcoin in the Uk. Where's your source to say you can't?

I've invested so much time educating myself on BC. My view, it's the best form of investment long-term.

I urge you to read the history, Michael Saylor or Robert Breedlove are great educators.

Keep hold of your BC long-term & enjoy your fruits. It won't happen in the short-term so cash out if you can't wait.

Interesting. Why is it "the best form of investment long-term." What drives the underlying asset valuation? I can understand where the value add is for equity and bonds, but not sure what drives value in crypto

@HopelesslyOptimistic Crypto is basically gambling. It's not 'the best form of investment' - and by claiming that it is, you are spreading misinformation to people hopeful of making some money. Some people have become obsessed with the idea that cryptocurrency will make them rich, invested thousands and lost their life savings on it.

Yes you can make money from it, but only really if you have money to spare/ money that you don't mind losing. It's extremely volatile and no one should invest more than they can afford to lose.

Bitcoin is not crypto! So educated yourself....

Great form of investment because there are only 21 million. You can't inflate it by printing trillions like our Central banks do. Decentralise, so no corporate and state theft.

Once you realise it's not crypto you will start to understand it.

I stand by - investing your time reading and learning about this amazing invention. Brilliance.

Bitcoin is not crypto!

A crypto currency is a digital currency in which transactions are verified and records maintained by a decentralised system using cryptography. In what way doesn't this describe Bitcoin?

Bitcoin is a cryptocurrency.

Read Satoshi's white paper - it's not and there lies your complete ignorance. Start reading before preaching. Signing off!

You'll hardly miss £20. At the same time £60 won't change your life. I'd leave it invested incase it goes to x20 it's current value or something ridiculous in 10 years' time.

Can you to explain the difference between Bitcoin and a cryptocurrency? I am interested as Bitcoin is usually called crypto so I would like to understand why it is not one

Don't sell in fact I'd buy more. I recently invested a few thousand with expectations it will double

Unless you're desperate for the £60, i would keep it for a few years and see

To answer the original question When to cash out Bitcoin?

Immediately. It is fundamentally worthless

Following with interest as i had forgotten about the £20 i invested in bitcoin because i could afford to lose it. Just checked and mine is also now worth £60.

I am wondering whether cashing out the original £20 and then waiting to see what happens with the rest is indeed good advice.

Where can you buy Bitcoin? I've always wanted to buy some.

This. And also, how do you cash it out?

Main reason I've never done it is not understanding these basic practicalities.

Most corner shops sell them. You'll have to ask as they have them behind the counter. They are usually next to the magic beans

Would never generally recommend bitcoin, but for the sake of £20 / £60 I'd leave it invested.

You're not going to miss it if it drops to nothing.

But you would regret it hugely if you cashed out and missed out on a possibly good return.

Good return atm. Kicking myself for selling 0.2 before it really took off!

I am going to invest £50 a month for 12 months in Bitcoin then leave it there until 2034. It is always good to think very long term and not panic when Bitcoin goes down 80 % each year it has a phase like this but overall 150% appreciation is the norm each yea r.

I have learned this on you tube and know several people letting their Bitcoin sit in its e wallet long term!

I am a bit late to the party but there is still widespread belief Bitcoin is a very good invest ment.

I won't miss £50 pcm for a year as I have cancelled several direct debits of late.

Can I ask who you are with as sounds like a good plan to invest a small amount over time?