Unless you have tens of thousands of ounces of silver, selling half is a bit extreme. I sold 10% and the funds just hit my account - will reallocate into crypto once we get a nice pullback.
Thanks! The question is only when this pullback in bitcoin will come? And what about selling physical gold? It goes nowhere, especially the last week. The price of one bitcoin at this moment is the same as one kg. gold!
I'd establish a small position now to "get your feet wet". Then watch for a 15-20 drop in BTC over the next week or so. Could be a repeat of the January correction
I think this is the best and the only way to do it indeed. And rule 2: never trade with crypto if you don't know what you're doing. I can read candlesticks, but with crypto....my "expectations" are always wrong 😂.
You are right about that! The purchase of metals costs money (on fees, etc.) and the storage costs are not very cheap - so, you lose the amounts (you've already have paid) at the moment you sell them.
you make 10k, 20k and sell. What's the point, you have to pay taxes on 30 or 40%. Weakening $ will cause btc to explode imo. 50K is nothing for btc. It would be like selling AMZ for $400 10 years ago. We are only in the top of the second inning with btc and crytos imo
Thank you Gregory for the work that you do. I have purchased your book and there is definitely a lot of content in there so I appreciate the references you make to it from time to time. Breaking it up like this makes it an easier read for sure. One thing I am curious about is your opinion on real estate. I don’t see you mention it too often. Thanks again.
I would hold, all pistons are working. Remember, when you sell it is now a realized gain and you have to pay uncle sam. So, you could lose 30% from here and still be even. So if you think it has a better chance of going up 30% or down 30% that is your answer.
Sold all my silver and gold which I have been stacking for years now for a very decent profit but just been enlightened with bitcoin... but this meteoric rise been insane and hoping for a handsome dip .. ALL IN
Good luck Jimmy on whatever you do. Crytos are here to stay. Gold and silver will never compete with btc imo. I used to laugh at my nephew when he told me years ago btc would be 25k one day because I didn't quite understand it. Now I do. Time will tell.
Thanks Greg but I have a major question and might need to go find some guidance but perhaps you can help. Two things I want to avoid in life are income tax and Capital gain tax. I have made a large gain in Bitcoin over the course of a few years, I have been in Crytpo since late 2017. My question is what do you think of just holding Bitcoin indefinitely and taking loans out against it to build further and perhaps enjoy some?
The watchwords here are "allocation" and "overweight". When an investment gets too successful it becomes too important in your portfolio and leaves you vulnerable to a big pullback.
I agree. Pull profits but if you decide to exit stay disciplined enough re-enter at a lower price of that class because the gains would be loss. Traders have to stay focus/disciplined.
The question is: is it a good idea to sell physical silver to buy bitcoin?
Unless you have tens of thousands of ounces of silver, selling half is a bit extreme. I sold 10% and the funds just hit my account - will reallocate into crypto once we get a nice pullback.
NOTHING, even crypto, goes up forever.
Neither will you live forever
Thanks! The question is only when this pullback in bitcoin will come? And what about selling physical gold? It goes nowhere, especially the last week. The price of one bitcoin at this moment is the same as one kg. gold!
I'd establish a small position now to "get your feet wet". Then watch for a 15-20 drop in BTC over the next week or so. Could be a repeat of the January correction
I think this is the best and the only way to do it indeed. And rule 2: never trade with crypto if you don't know what you're doing. I can read candlesticks, but with crypto....my "expectations" are always wrong 😂.
You are right about that! The purchase of metals costs money (on fees, etc.) and the storage costs are not very cheap - so, you lose the amounts (you've already have paid) at the moment you sell them.
Kras, nothing wrong with selling half your silver and buy bitcoin with it. This way you are covered either way.
BTC is like Amazon or Google, Gold and silver are like Blockbuster or Kodak, now you tell me if it is a good idea
you make 10k, 20k and sell. What's the point, you have to pay taxes on 30 or 40%. Weakening $ will cause btc to explode imo. 50K is nothing for btc. It would be like selling AMZ for $400 10 years ago. We are only in the top of the second inning with btc and crytos imo
Thats exactly what I mean genius
Of course, I sold all my gold and silver last year
I have struggled with that questions for years now.
Thank you Gregory for the work that you do. I have purchased your book and there is definitely a lot of content in there so I appreciate the references you make to it from time to time. Breaking it up like this makes it an easier read for sure. One thing I am curious about is your opinion on real estate. I don’t see you mention it too often. Thanks again.
I would hold, all pistons are working. Remember, when you sell it is now a realized gain and you have to pay uncle sam. So, you could lose 30% from here and still be even. So if you think it has a better chance of going up 30% or down 30% that is your answer.
If gold silver goes up I can sell with zero capital gains?
Sold all my silver and gold which I have been stacking for years now for a very decent profit but just been enlightened with bitcoin... but this meteoric rise been insane and hoping for a handsome dip .. ALL IN
Thank You.
Also, you will have every big company buying crytos as a hedge against the dollar. Billions will be allocated to btc.
Good luck Jimmy on whatever you do. Crytos are here to stay. Gold and silver will never compete with btc imo. I used to laugh at my nephew when he told me years ago btc would be 25k one day because I didn't quite understand it. Now I do. Time will tell.
Thanks Greg but I have a major question and might need to go find some guidance but perhaps you can help. Two things I want to avoid in life are income tax and Capital gain tax. I have made a large gain in Bitcoin over the course of a few years, I have been in Crytpo since late 2017. My question is what do you think of just holding Bitcoin indefinitely and taking loans out against it to build further and perhaps enjoy some?
Words of wisdom
The watchwords here are "allocation" and "overweight". When an investment gets too successful it becomes too important in your portfolio and leaves you vulnerable to a big pullback.
After hearing Gerald Celeste , perhaps we should exchange gold for silver ??
I agree. Pull profits but if you decide to exit stay disciplined enough re-enter at a lower price of that class because the gains would be loss. Traders have to stay focus/disciplined.
Working on the weekend. True dedication. Thank you.
TRANS WORLD METALS https://www.transworldmetalsltd.com/ will give you a deal on SUMCOIN https://sumcoinprice.com/
Every one need other types of cyryptos..buy a stable coin???? or an INDEX coin...https://sumcoinprice.com/