|
Title: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 04:43:50 AM Is there much point in selling at $90 and waiting for a further drop?
The last crash went to under 10% of the peak, and the graphs of this crash and the 2011 crash are identical. If this crash leads us under 10% that means a lower bound of $26. Is this a realistic price point? I've noticed there is no longer any money rushing in and without the confidence of a price rise it will continue to fall. Is this logic flawed? Cheers Title: Re: Should I sell at $90? Post by: casascius on April 15, 2013, 04:45:49 AM How much are you thinking of selling?
Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 04:47:55 AM How much are you thinking of selling? Between 50 and 80 Title: Re: Should I sell at $90? Post by: mgio on April 15, 2013, 04:48:06 AM No, don't sell.
There is no reason why this crash will follow the exact same pattern as before. I seriously doubt it will get that low, and there is a good chance there will be another bubble in the not too distant. I'd say hold, maybe even buy but don't sell. Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 04:50:57 AM No, don't sell. There is no reason why this crash will follow the exact same pattern as before. I seriously doubt it will get that low, and there is a good chance there will be another bubble in the not too distant. I'd say hold, maybe even buy but don't sell. Yeah, i'm being greedy, sell high for a chance of buying low. These type of things can backfire quite easy. Another bubble will probably be between 1 and 2 years away though. Title: Re: Should I sell at $90? Post by: casascius on April 15, 2013, 04:52:00 AM Are you in the US? Would you send first and take a personal check from me? (Assume for the sake of this question that you can adequately determine my trustworthiness and be comfortable that you won't get scammed, and that I'm willing to give you a digitally signed promise to pay you)
Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 04:52:44 AM Whatever you do, don't rely on this forum to give you the answers. Haha, actually this is probably the best advice here, the markets are insane. The way it goes up and down. Perhaps holding will be the safer bet, I bought most of my coins at $10 - $25 so I'm just being more greedy. Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 04:54:26 AM Are you in the US? Would you take a personal check from me? (Assume for the sake of this question that you can adequately determine my trustworthiness and be comfortable that you won't get scammed) If I sell I will use BTCE or Gox, I've got a verified account with them anyway. I just keep thinking to load a sell order at $90 because if it keeps going under $90 I really don't think its coming back up. Title: Re: Should I sell at $90? Post by: John (John K.) on April 15, 2013, 04:54:55 AM Are you in the US? Would you send first and take a personal check from me? (Assume for the sake of this question that you can adequately determine my trustworthiness and be comfortable that you won't get scammed, and that I'm willing to give you a digitally signed promise to pay you) Trade with Mike if you want - he's about one of the most repped guy in this forum.Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 04:56:26 AM Are you in the US? Would you send first and take a personal check from me? (Assume for the sake of this question that you can adequately determine my trustworthiness and be comfortable that you won't get scammed, and that I'm willing to give you a digitally signed promise to pay you) Trade with Mike if you want - he's about one of the most repped guy in this forum.I would certainly trust him, but I have accounts already and live in Australia. Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 05:01:49 AM Yeah, i'm being greedy, sell high for a chance of buying low. These type of things can backfire quite easy. Another bubble will probably be between 1 and 2 years away though. What percentage of people do you think profit regularly from speculation? I don't know what it is, but I know it's small (especially in the volatility of the Bitcoin market). Are you willing to risk those odds? Are you capable of holding out even when the market goes against you for days, weeks, months, or years? Just because something happened in the past does not mean it will happen in the same way again in the future. If it was that easy we would all be rich! If you are speculating to make more money, you are basically gambling. Good luck. I agree with you, could I hold my position if the market rose against me for weeks? Nope, I would not be able to stand it. I guess this gamble isn't for me Cheers everyone, I think it would be a stupid idea to sell, if the price does crash further I should rather focus on buying more. Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 05:04:28 AM If you have to ask, yes dump it all ASAP. Haha this made me laugh. Title: Re: Should I sell at $90? Post by: Elwar on April 15, 2013, 05:10:33 AM If you have to ask, yes dump it all ASAP. I agree, you may want to try penny stocks or just go to Vegas. If you are in the market for buying some dollars with your bitcoins, then by all means do so (is there some new enhancement I am not aware of?). Title: Re: Should I sell at $90? Post by: HappyBitCoinUser on April 15, 2013, 05:14:50 AM Is there much point in selling at $90 and waiting for a further drop? The last crash went to under 10% of the peak, and the graphs of this crash and the 2011 crash are identical. If this crash leads us under 10% that means a lower bound of $26. Is this a realistic price point? I've noticed there is no longer any money rushing in and without the confidence of a price rise it will continue to fall. Is this logic flawed? Cheers Hold onto it, then after the price drops enough, I'll buy all your BTC off you for $0.05 each. Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 05:27:15 AM Is there much point in selling at $90 and waiting for a further drop? The last crash went to under 10% of the peak, and the graphs of this crash and the 2011 crash are identical. If this crash leads us under 10% that means a lower bound of $26. Is this a realistic price point? I've noticed there is no longer any money rushing in and without the confidence of a price rise it will continue to fall. Is this logic flawed? Cheers Hold onto it, then after the price drops enough, I'll buy all your BTC off you for $0.05 each. Haha if the price gets to 0.05 you have my Bitcoins, I'll be too busy buying hundreds of thousands of them at that price. :) Title: Re: Should I sell at $90? Post by: smoothie on April 15, 2013, 05:32:31 AM Is there much point in selling at $90 and waiting for a further drop? The last crash went to under 10% of the peak, and the graphs of this crash and the 2011 crash are identical. If this crash leads us under 10% that means a lower bound of $26. Is this a realistic price point? I've noticed there is no longer any money rushing in and without the confidence of a price rise it will continue to fall. Is this logic flawed? Cheers Hold onto it, then after the price drops enough, I'll buy all your BTC off you for $0.05 each. Litecoin was at $0.06 earlier this year. Now trading at $2.30 down from $5.00 Title: Re: Should I sell at $90? Post by: keatonatron on April 15, 2013, 05:37:16 AM Litecoin was at $0.06 earlier this year. Now trading at $2.30 down from $5.00 Isn't that just because you can trade ltc for btc and get the bitcoin price? As long as the btc/ltc exchange rate doesn't change much, in theory the ltc/usd rate should move with the btc/usd rate, no? Title: Re: Should I sell at $90? Post by: drawingthesun on April 15, 2013, 05:40:52 AM Litecoin was at $0.06 earlier this year. Now trading at $2.30 down from $5.00 Isn't that just because you can trade ltc for btc and get the bitcoin price? As long as the btc/ltc exchange rate doesn't change much, in theory the ltc/usd rate should move with the btc/usd rate, no? LTC fluctuates around 0.01 and 0.04 BTC and has been for a while, it mostly sits around 0.02 - 0.03, but LTC / USD is almost identical to BTC / USD. Title: Re: Should I sell at $90? Post by: Flappy on April 15, 2013, 05:43:19 AM The last bubble took six months to deflate from $31 to $2 with lots of volatility in between. If you are not comfortable trading a bear market, I'd recommend cut your risk and sell.
So yes, I agree with Vlad. If you have to ask, then you don't belong in this market. Title: Re: Should I sell at $90? Post by: squidface on April 15, 2013, 06:12:22 AM I sold some at 95 a couple of days go when it first bounced, taking a reasonable profit based on average price paid. Could've made more if I sold earlier, or held for a better top, sure. But I made a call to reduce my risk when I could. I also still stand to lose a bit in $ terms if it goes right down, but my risk is lower, and it has to go a lot lower before that happens. At that point, I have $ to buy back in, and will probably come out smelling of roses in the long term anyway. If it goes back up now, also looking good in the long run based on what i'm holding.
it's a win win. The risk was stressing me right the fuck out, now I'm happy either way. I have bitcoins to spend, and will probably make a profit in the long term. And I can buy more once we have the start of a fucking clue about what the hell is going on!!! lol! fuck this greed bullshit. it's just a big stress. life's too short to stress 24/7 over a number on a chart. OH NOEZ.. THE SPECIAL NUMBER HAS CHANGING!!! lol. Title: Re: Should I sell at $90? Post by: keatonatron on April 15, 2013, 01:16:47 PM The risk was stressing me right the fuck out, now I'm happy either way. Me too. The price came tumbling down, and I didn't sell anything along the way (I was sleeping at the time... >:( ) But for some reason I feel a lot happier now, even though I did miss out on $5000+ profit. Title: Re: Should I sell at $90? Post by: wopwop on April 15, 2013, 01:18:17 PM if you bought below 90$ you should sell
if you bought above 100$ you should ask yourself why you are so stupid |