Quote:
Originally Posted by Fuzz
But why? Yes, the ETF thing is a thing. But it doesn't give Bitcoin value, it just makes it easier to get into. If you buy Bitcoin, you must understand it's value is nearly 100% predicated on what others think it is worth. You are at the mercy of other speculators and gamblers. So if you think enough people are willing to run the price up, it may be a way to gamble with an edge. But then you also need to sell. And if you think the value will only ever increase, it doesn't make sense to ever sell, right?
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I don't think the value of anything ever only increases. The price of bitcoin is always fluctuating but over time the hope would be that it's price will continue to rise.
As with anything, It makes sense to sell when you've made a profit. You certainly don't have to sell all of your holdings though, especially if you think the price will continue to appreciate over time.