MultiversX Tracker is Live!

Sold my bitcoin and regretting it, advice needed

Bitcoin Reddit

More / Bitcoin Reddit 91 Views

Back in 2015 I bought a few hundred dollars worth of bitcoin, was planning on buying something with it that only accepted bitcoin. Shortly thereafter I lost/forgot my coinbase password, and just kind of put it out of my mind.

Fast forward to last week, I was doing my taxes and reminded of bitcoin and decided to find out if there was any way I could get into my account. Was able to verify my identity and get in, and to my pleasant surprise I had $23k in my account. I didn’t know anything about what was happening with the market, all I saw was a huge return, consulted a few friends and they said I should sell. So I sold.

I’m now immensely regretting that decision. I didn’t know anything about the upcoming halving, I didn’t research the trends. I’m a complete noob with this stuff. I don’t make a lot of money, about 42k a year, so when I saw the 23k it was more money than I had ever had in one place before.

Should I buy back in, and how should I do it? I know I’m going to have to pay at least 15% tax on what I sold. The price keeps going up. It appears that there is potentially going to be another price surge after this halving that I’ve been reading about, but I know that I have to hold the investment for at least a year to avoid a higher tax rate. I’m just confused and frustrated, and seeking direction. I’ve seen the power of this investment, and want to invest more in my future.

submitted by /u/foamek
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments