A freshly released Twitter poll uncovered an intriguing selling sentiment among the community. Most of voters revealed that they aim to sell the majority of their holdings at $1,000,000. Even so, almost a quarter of all who put across their votes answered that they intend to keep their Bitcoin for life.
The Poll Results
Binance Lite took it to Twitter to draw out some random people’s opinions. The question was short and simple – “At what price would you sell the majority of your Bitcoin”. Voters had the choice of 1 of 4 answers.
As at the time of writing this, 31% of total voters have picked $1,000,000 as their selling price. 25% have elected that $50,000 is the number at which they will sell much of their Bitcoin holdings. A quarter of a million dollars is the least favored answer with only 21%. However, it's fascinating to point out that 23% chose “never” as their answer. 4,391 is the total amount of all voters currently, meaning that 1009 of them are preparing to keep their Bitcoin forever.
Trading Versus Holding Bitcoin
Amongst the most significant questions in the crypto community has been whether or not one ought to be trading or simply holding. Even though the goal appears to be the same– increasing the value of the investment, both pursue it in a wide range of ways.
Trading cryptocurrencies may possibly be quickly profitable as trades are often executed in an instant. Although, the same may be applied if the trade starts going south. The suggestion here is to buy the asset at reasonable prices and to sell it when it's high. It requires solid knowledge and experience within this specific field. Occasionally, trading crypto differs from any other commodities. As an 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 suggests that the person who has invested in cryptocurrencies is looking forward to the price to go high as well. Having said that, 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. That being said, altcoins could be another story, specifically when compared to the largest cryptocurrency.
As the recent poll shows, 23% of voters mean to keep their Bitcoin forever, sticking up with the idea that holding Bitcoin will deliver better results.
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