A recent Twitter poll revealed an interesting selling sentiment among the community. The majority of voters pointed out that they plan to sell most of their holdings at $1,000,000. However, almost a quarter of all who expressed their votes answered that they intend to keep their Bitcoin forever.
The Poll Results
Binance Lite took it to Twitter to ask for people’s opinions. The question was simple – “At what price would you sell the majority of your Bitcoin”. Voters had the chance to choose between four answers;
At what price would you sell the majority of your #bitcoin?🤔
— Binance Lite (@binanceliteau) October 3, 2019
As of the moment of writing this, 31% of all voters have picked $1,000,000 as their selling price. 25% have picked that $50,000 is the number at which they will sell most of their Bitcoin holdings. A quarter of a million dollars is the least popular answer with only 21%. However, it’s interesting to point out that 23% chose “never” as their answer. 4,391 is the total number of all voters as of now, meaning that 1009 of them are planning to keep their Bitcoin forever.
Trading Versus Holding Bitcoin
One of the biggest questions in the crypto community has been whether or not one should be trading or simply holding. While the goal appears to be the same – increasing the value of the investment, both pursue it in different ways.
Trading cryptocurrencies can be quickly profitable as trades are sometimes executed in an instant. Although, the same might be applied if the trade starts going south. The idea here is to buy the asset at low prices and to sell it when it’s high. It requires solid knowledge and experience in this specific field. Sometimes, trading crypto differs from any other commodities. For example, the stop-loss for a crypto position could lead to a disaster because of the volatility and the violent price swings.
Holding – or HODLing – crypto is a different way to approach the strategy. It means that the person who has purchased cryptocurrencies is expecting the price to go high as well. However, daily trading is abandoned, replaced by a long-term play without interfering with any of the price action. Bitcoin has proven itself to be a worthy holding position, with positive results almost all of its existence. However, altcoins might be another story, especially when compared to the largest cryptocurrency.
As the recent poll shows, 23% of voters intend to keep their Bitcoin forever, sticking up with the belief that holding Bitcoin will deliver better results.
Source: cryptopotato.com
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