Bitcoin Forum

Guys been here since HODL did not exist.

To everybody burnt.

You cannot influence the price movements, so do not panic.

Keep a cool head. The cycle will repeat, this is a very usefull technology and it matures day by day.

My advice:

-if you are still in the green but lost the chance for huge profits then take some profits out but keep enough in to stay in the game.

-if you are deep in red then HODL. When market stabilises try to increase your BTC holdings buy trading RELIABLE altcoins (LTC, ETH, MONERO, BCH etc).
Always stay in crypto until you are in the Green again.

& BE PATIENT.

Well said. I think a lot of new investors don't realize your last point - the need to stay in the game until the red goes. It's the fundamental rule of cryptoinvestment as it's not a zero-sum game, it doesn't need to be a zero-sum game, every one of us can win since we're all early adopter. All you must do is HODL and wait until you're in the green to sell. It's as simple as that.

OP is wrong....

Green - HODL
Red - HODL
None of the above - HODL

Multi-millionaire - SODL (but HODL 1)

If you are still in the green, you can sell 5-10% only to decrease exposure, and put a buy-back order at a lower price (I suggest between 4 and 5k).

Bitcoin had fall so much that we cant predict the bottom anymore. People said it was 10k, 9k, 8k, but its going lower and lower. Some people will only look at percentages and say that this is not the biggest crash in bitcoin history, but it is, because much more people was affected than before, and we have Wall Street pulling some of the strings now.

The real answer is 'LONG'

We are still in the very early stage and people really do not know how long we are going to get or they really do not have that great belief in bitcoin right now, which is why they panic unnecessarily. The best thing at moments like this, most especially for those who could not sell at the top is to keep holding, the greens will be back again, and for those who sold, best time to buy back is just now.

I learned my lessons a while back when the market came back green and a whole lot of these coins as low as they are, are even more than the value I sold them back then. The thing is that, the best thing is to always hold, forget the market rampage, buy in if you have some fiats lying around and see it as a good time to have some good bags for good times ahead.

This is a very good advice from a very experienced person, but how to push yourself not to sell the coins when you feel they have reached their peak or when they are going to fall and you see it?

That's the tricky part of the game. Where to spot the coins PEAK, I guess if your a trader you wouldn't be greedy enough to take a 20% profit than waiting for another dump and pump again.

Nothing like some good olds bags with some whiskey and a good mate, chilling and forgetting all the cryptosphere troubles. It's the best thing to do actually especially during a crash.

Excellent advice here.

If you're in the green, big time, then take some of your profits at least so you are guaranteed to break even plus some of your profits no matter what happens with the crypto space. If you do sell and price goes up again, keep a cool head and don't buy into the fomo. But do leave some BTC for long term holding still, but as i said, sell some so that you can buy cheap coins as the opportunity comes round.

If you're losing out then you don't really have a choice... Keep holding, pump will happen eventually and everyone will be hyped up again. Could take years to get prepared, make sure that if BTC goes down lower, you average out your buys to a lower level.

Trading isn't to be played with emotion. People who are selling at the dip of $6k are regretting their decisions at this very moment.

Nice to see that an old timer still sticks around to give sage advice but curious you wouldn't use your old account to post. Nevertheless, I think the tried and tested strategy for success is patience. Luck is always a small part, right place right time kind of thing but sometimes time is not on our side.

Remember always to risk what you know you can happily live without. Always take enough to make your time and troubles worthwhile but impatience will ruin any dreams you might have of financial Utopia. Whether that's a comfortable retirement or mega riches.

See you all again in 5 years when I'll be the old timer telling tales of the 2017 boom and 2018 panic.

i wouldn't say wrong but your comment is incomplete.
just holding all or selling all is never a good option and also it depends on the strategy that you choose. for most people who don't want to trade holding is a good option but for traders it is not a good idea. it is best to sell before the panic sells and buy the bottoms instead which helps with HODLing more coins after a while.

True but OP mentioned people burned by the strong dip. In that case I would recommend the HODL or investing on the way down.
However if you are burned, investing on the way down is probably not something you are willing to do or can.

Trading platforms are good for making and losing money.
Without them we wouldn't be seeing these numbers :)
You need to know what you are doing to limit your risk. Also there are quite some trading sites that got hacked so you need to take that into account.
Therefore I would still advise burned people to put their BTC on a cold wallet (HODL) and go into hibernation for 2 years or so :)

Yes I agree with you. To hodl is the best thing that we can do. By the way, do you know what HODL abbreviation means? Hold on for deer life! Do it, friends!

Well op did say to hodl even if you're in profit, its just that you can sell a bit because you can't hodl forever. There should be a target for your hodl and you should have at least a plan or an idea about until when you're going to do that. Hodling is good but you can't hold forever

We all know that holding will actually help people only to get the better value. But this unfortunately people do not understand and they keep selling and thus this leads to the more fall in the market especially during the panic trading. When some news come instead of holding majority start selling and thus it keeps falling. Instead if they do not sell price would rise as more and more higher buy prices quotes would be placed to get the btc and prices may not crash which happens due to people continuously sell due to their fear.

You can hold for ever if you stop being so fiat centric. Don't get me wrong, in terms of trading, there are indeed targets where you buy and sell, but when it comes to the coins that you hold, there is no point into selling any of them in the forthcoming years. I personally won't end up selling of my cold storage coins at all. It feels amazing that I have wealth stored outside the banking system, and that alone is worth way more than any short term profits I could gain by selling them. The main point is that you are exempt from any negative side effects that this on debt based system exposes everyone to. That alone should be reason enough to make people hold a certain percentage of their coins without any intention of selling them later on.

At some point you'll be able to buy your daily needs with Bitcoin, pay your bills, pay for gas, etc, where fiat will then be nothing more than a redundant loser currency. It may even come to a point where people don't even want to sell you their coins for fiat anymore, think about that. It's far away at this point, but not impossible, and I believe that there is a significant chance of this becoming reality in the future. If you believe in that, you will not sell any of your coins for actual fiat right now. But hey, do what you want, it's your choice after all. :)