Bitcoin Forum

Price was about to reach $3000 but suddenly just like when it started to rise from $1200 now has started to fall from $2800.
If you don't adapt with the market you'll for sure lose, when market is moving upwards you should go with it but now market showing the signs of going down and we should all go with it, only the ones who were meant to hodl for long will continue to do so because these prices is nothing for them but the middle class Bitcoiners like me and most of the people here can not sustain such drops, so start selling to avoid more suffering.

that's shit 'advice'.

if people can't take it they shouldn't be anywhere near bitcoin. no one can time this. work out an entrance and an exit and wait around until you can execute it. if you don't you'll wind up with a bunch less money than before.

Bitcoin has variance in terms of pricing and if you can't deal with it, don't use it. All coins and fiat currencies have changes in price, it's not only a Bitcoin thing. Selling during drops is even worse considering you'll probably be seeing a price higher than the previous day with these current trends. For the past several days the trend has been rise, drop, and rise, rinse and repeat. Just wait a little bit, patience goes a long way.

Wow ! I have to confess that it has been hard ! We lost about 300$ in the matter of 3 hours :o ! I wonder now if it will recover or not.

But what was the price yesterday?... We are back where we were last night. If you cannot stomach these ups and downs, you shouldn't be involved with Crypto to begin with. HODL. You will regret panic selling.

so the price can go up 20% one day but if it drops 14% overnight it's over? sounds like we're still up 6% to me . . .

It's actually very simple, in the easy way of the price going up hundreds of dollars in a quick fashion, it can lose a few hundred dollars in the same way.

Important is where the price will settle at this point, since this might be the correction that a lot people were waiting for.

I think if we manage to maintain the $2000 mark for a while, that we have done well. If you're a trader, take advantage of this correction, and if you're a hodler just like me, keep hodling!

Well we had gained about $300 in the previous three hours so.....

Is it really shit advice? Selling at resistance and buying back at support has proved very profitable over the last three years. Just saying....

yes, because newcomers won't know who to listen to or what to believe. they'll walk straight into wherever the professional traders want them to.

you see the same old thing every day on r/bitcoin and elsewhere. people try to badly time the market and end up poorer. if you know more then great. people who don't have years of experience should take the long road instead by cost averaging and selling when they reach their target.

i am absolutely sure there are people like this who bought at $2700 and will sell when it gets to $1500 again. they shouldn't have gotten involved at either price.

I think another important ingredient is being a crackhead, or polyphasic sleeping. My problem is I have two (other) jobs, so I have to sleep. That means I miss the critical signs of an impending correction.

It's worse than that, the advice is basically telling people to follow the market.  If information or particular speculation is already in the market, all you're doing is giving coins to someone who's busy buying low.  It's doing the opposite of "buy low, sell high", and the OP is exactly where good traders are getting their money from.

If the OP is really that bad at trading, he shouldn't do it.  Just buy and spend/hodl.

I do not think it is useful to sell in panic.  It will incur more loses than gain.  Never ever involve emotion when you are trading, your logic will malfunction that way.  Stay calm and study the market.  As the statistics show, we are still up by some % than yesterday.  So I guess we are still in an uptrend path.

Advising to sell the user's bitcoins just because of the sudden drop in price is a wrong advice. Going along with your advice will just make the problem worse. Well it is not a problem, it is just a happening. Advising to sell will just make the price go even lower. I think that you are just toying with others so that if they did panic sell and the price went even lower, you will buy more bitcoin at the lower price. Giving crappy advice to others just to have the benefit just to yourself, damn.

With just a small drop to my own view you considered that as a suffering? Im an average bitcoiner but Im not looking on to that. The price drop earlier is just a normal thing. Look at the brighter side prior to that drop and see how much it was increase during it's hype and now by looking at the current price rate as of Im typing this, still on around $2,500.

With the hype like this, it will increase more your faith to bitcoin that the price will increase more. Why become a member of panic hands with the times like this? What done is done hope you enjoy the profit the moment you sold.

The bubble is not over at all. People quickly forget how massive the 2013 bubble was. If the peak were $2800 then this would only be like 20% the size of the 2013 bubble. It will go to at least $4000 but not above $8000. I think $5000 with a market cap just over $100 billion will be where resistance is strong enough to send it snowballing downward.

LOL. Why panic sell? I think we are all matured enough not to be carried away and just dump your bitcoin if the price goes down. Maybe this is just a correction price that most people want to see so that they can buy bitcoins again. But it is still good to hold it still. This is just a normal dip we are seeing and by the coming weeks the price will rise again.

You are right that this is just a dip, but don't make the mistake of thinking that people won't panic sell. People of all ages and maturity levels panic sell all kinds of assets all the time. It's basic investor psychology. Bubbles happen constantly and they almost always pop. This rise in bitcoin price has all the tell-tale signs of a bubble. That being said, you are right that this case is just a dip.

Not a bubble to begin with, you tell people to buy and hold because price will increase and now telling us to sell in panic?

Only miners should sell because they need to cover their mining costs and if anyone buys any amount shouldn't sell with loss.

If price wasn't fluctuating like this then we wouldn't be calling it a decentralized crypto currency, we could call it Tether.

Seriously, you are one of those that change their mood based on how Bitcoin is moving. If the market is heading up nicely, as has been the case in last weeks, you are all positive, but as soon as there is a dump happening (which in this case is completely normal), you directly change your mindset negatively. Important to know is that you only lose when you sell at a loss. Also, if you can't handle the pressure of the market, you should likely choose to avoid making short term investments.

Did you already sell all your Bitcoins and now you are encouraging everyone to follow you? If that is what you are really doing, then let me guess what your next move is. You will buy Bitcoin again at a lower price, am I right? ;)

Its obviously the next move he wants to do that's why he is encouraging others to follow him, he wants bitcoin price to go down. Its up to the readers if they will follow OP or not but for me I will do what I want to do with the bitcoin I got right now. If he haven't sold all his bitcoin I think he sold a huge percent of what he got, and OP wants to buy at cheaper prices.

If the OP thinks all his posts in the forum will move the price of Bitcoin then he is either not that intelligent or he is trolling. The first one is more likely of what he is.

...

I feel very fortunate in this huge price gain.  I feel that I was lucky.  I bought some gold and platinum with some of my BTC to "hedge my stack".  

I did not sell enough BTC to recover all of my investment though, I am neither that lucky nor that smart.  If you have a decent "stack" of Bitcoin, selling pieces of it as the price goes up can be a smart strategy.  Easier said than done however.  Like I mentioned: Lucky!


EDIT:  While I am very poor at predicting the future, my *guess* is that The Bubble is still on for a short while.  Entering dangerous territory.  Stay alert and nimble.  Or just HODL for the long-term!

Dont make people sell in panic by your advice. Its a wrong decision. I know how it feels if your profits drops with drop in btc price but you need to show some heart and trust if you wana earn big. This small decrease in price is temporary and it will rise more in 1 to 2 days. Those who have courage to take risk are the ones who end up making good profits.

Some consider is a bubble and the current price fall to be the corrective phase. Most users who have been waiting long to buy low could be now in panic whether to buy or sell what's in the wallet. In a survey it states that more panic selling is experienced on the western nation whereas Asians are focusing much on holding.

Panic selling is wrong idea but instead hold it and wait for the buy back of bitcoin. Even though your profits has lessen by the price fall of bitcoin don't afraid to hold it because it is temporarily only and have a faith on bitcoin.

After the epic crash of 2013, it took 3 years or so for the price to bounce back to the ATH. That means those who bought at the ATH made no money for 3 years. So it's not like HODL always works. Probably best to take little profits during the mega bull runs and buy back at dips. My mistake was to cash all out when the rally was just getting started and not keep some in reserve.

Bubble didn't last long which means it wasn't a real bubble, and the correction will come fast too. The only ones who will lose out in the end are the weak hands like you who sell the bottom and in a couple months time we will see threads from you or similar people saying why did I sell at the bottom of this short crash.

Lol, that people who bought bitcoin for $ 1,200 in 2013, had a return of more then 100% if they sold their bitcoin at $ 2,700. Bad investment in 3,5 years? HODL

It's exactly the other way around. Asians, and then more referring to Chinese people, they are very short term minded, and known to take insane risks with borrowed money.

It has more to do with gambling than actually investing in something. As quick as these people open their positions, that quick they happen to close them as well.

May I know what survey you get your "wisdom" from?

The question now is where is the bottom. It dropped to around $1550 and when up some but I wouldn't count on that being the bottom yet. It could still go below $1500 easily.

Yeah everybody is selling i panic right now for these bubble reasons in price, and correction had happened already. A bubble suddenly made price boost it's price value which make's $2000 a dream reality to have. But it went through a lot of negativr effects of other currencies specially the alts were dropping down it's currency exchange marker during that time of bubble take effect. If most investors were really having that best of their holdings, which they think it couldn't be recovered by waiting price ti became progressive again, after all the patience of not selling; but now is the right time to sell in panic in order to save your investments.

wow below 1500 would be a big crashed already after hitting almost 3k$, there's a lots of newcomers who was been fall into this trap coming
from the whales who's playing with the price, fluctuation indeed really scaring them, so better to make good assessment before doing any
action.