Bitcoin Forum

Yeah I know, I should have HODLed but I promise, it was not a stupid or panic move.

I sold it not for cash but for some ICX.  You may also say I used it to buy some ICX.  Or that I re-invested my money.

I just can't pass up ICX at less than $3 per :D 

Now let's see if my gamble pays off the next few months.

not that smart, what you should have done is to get some eth/btc with fiat and buy icx with that because fiat is strong during crashes

I agree but that is another topic.  Easy to say if you have extra FIAT when the opportunity came.  That said, yes I did that too but I bought a bit sooner and not at less than $7k.  

The lesson being imparted is that even at lows, you can do something to take advantage of the opportunities presented...with what you have.

Icx is solid but unfortunately this was not the time to sell btc, it was a perfect buying and entry point, i think btc has strong future especially lightening network is coming, so this downtrend will be soon over and everything will be fine.

If I sell the ICX I bought now...I would be up 15% (in BTC) already and it is only the beginning. ;)

In my opinion, ICX looks promising too. But I don't understand that why you buyed ICX by selling your bitcoins? I hope your profit will be good for you in the future, good luck!

How do you suppose can I buy ICX otherwise?

Can't buy ICX from thin air...

I experienced that selling coins for any other coin would be nonsense in a crash, because when market rise all coins rise, it may rise more than others but it is same for falling.

WEll at least you kept your money in crypto and didn't just do a straight conversion to fiat money.

Maybe you are doing it wrong?

I bought 900.23 ICX for  0.00044690 BTC each.  They are worth 0.00052318 BTC each now or a gain of 0.06866954 BTC (17.07%)  ;)

I think your title is misleading.

I like ICON project, but the question for me, will Altcoin market dip further when the price of BTC starts to rally, because there is a known fact that BTC and Altcoin prices have a negative correlation.

I am very sure BTC will be back to its ATH soon but can't say when that will be

I won't say that it is a bad decision. ICX indeed is a good investmenr but you should've invested fiat rather than Bitcoin. Holding Bitcoin should be more prioritized but still, that's your decision. So since you've aldready done kt, invest more into icx to gain more profit once its value starts to increase. For now, hold!

I thought it was clarified at the OP.  I think it is called sensationalism in journalism. :D  

It was designed to go against the pure HODL mentality.  

Don't get me wrong, I HODL, but it is so difficult to teach others that there are times when it is okay not to.

The market is crazy, so I think the big opportunities are in other currencies. The point is to know the right time to buy and sell. But I do not believe that in the medium term betting against the BTC is the best option. There is a lot of news that will help BTC rise and return to having at least 50% of the market.

If I as you I do is buy bitcoin again at the bottom price because that you believe he will continue to fall so you sell it.
at least my bitcoin increases even if in usd still not.

I did something similar few days ago. I sold part of my NEO & Stellar stash to buy ICX. NEO & Stellar didn't lose as much of their value as most cryptos during this crises so I used them to buy my first position in ICX. Didn't want to touch BTC because I believe we will have one hell of bullish run soon.

ICON is really undervalued at the moment and should do extremely well over short term.

This time the market is recovering lightly and I believe there will still be a drop in the market. So investors should not be too worried, if you are keeping bitcoin then you can completely save up to buy for yourself many altcoin very well at low price. Trust that, do not worry too much and sell out bitcoin at this time you will regret it.

It might be good move no one knows , But to be honest I do not have the nerve to touch my BTC right now . every good opportunity I see I keep ask my self what if BTC starting to take off after I buy another coin with it . We all knows that once BTC starting the real uptrend no alt coin will go up with it . I hope you mae some money with your decision  :) .

ICX will make you your money back.It have its best days during autumn,but dipped and a solid project.So dont worry

I think holding is really important also during hard phases, in 10 years it will hopefully be higher

you just bought icx with your bitcoin right ?
so, nothing wrong, if you predict icx will grow more just buy what you believe

It is going to be fine. Look at the big ICX move up today outperforming Bitcoin by a big margin.
That said, it is good to have a core long-term holding of Bitcoin and not trade it.

You probably did the right thing. The growth potential of some altcoins is much larger than BTC. If you have chosen the right coin then you will be able to earn much more than if you kept your capital in bitcoin. ICX, AION, QSP, OCN - they all deserve to invest your money, even while BTC was less than 7000)

Since you did not sell out of panic I don't think you have  made a wrong decisions and investing in something you believe will give you peace of mind and may turn out positive for you. HOWEVER THAT DOESN'T MEANS THAT BITCOIN IS NOT GOING TO DO WELL IN THE FUTURE. Though I don't mush about ICX is it a token or gambling sites.

Yeah I know, I should have HODLed but I promise, it was not a stupid or panic move.

I sold it not for cash but for some ICX.  You may also say I used it to buy some ICX.  Or that I re-invested my money.

I just can't pass up ICX at less than $3 per Cheesy 

Now let's see if my gamble pays off the next few months.


Well you may have did the right thing there!

You have taken wrong decision as this is the time to buy more altcoins including BTC,ETH not to sell so you are may be unlucky at the moment as BTC again start climbing and soon it will again restore its top price position. so do think and take some good suggestions from your good friends which are in crypto trading.

Buying one coin or multiple coins with another coin is almost the same, not matter if market is in red or green. Buying another coin with fiats is very good during the dip and very bad during market rise.
As you said you would do that to if you had fiats to invest. If you done your own research and believe in coin, then it all good. Its not the question if Bitcoin or ICX will rise. Here is the question witch one will rise more.
You think that ICX will gain more value and is ok.

Sorry to hear that but Bitcoin now is rising now. I think you need to buy again and wait for another leg up to rise. You have a wrong move for that and sorry to hear that.

I've secured my investment already...invested BTC is 100% back and leftover ICX (25%) is pure profit :D

Also just to clarify that I only used 0.402 BTC... NOT all my BTC. ;)

the best thing to do now is to analyze and have a lesson. And you will succeed!

I think it is the wrong time to sell when the whole crypto market is dipping. You always have to sell your stuff when the people are euphoric like hell. The best thing you can do now is hold your stuff and wait a little bit.

As posted above...I already got my BTC back and made 25% extra.  No matter what, I am already ahead.

Despite that, I still read these wrong move, wrong time to sell posts.  Wake up people!!!

Never know, it could be back below 7k shortly.

I suspect this is a dead cat bounce and the market will only start to properly recover from the 15th of Feb after Chinese new year ends.

Hopefully I am wrong though! some coins have had great days.

This time it gives you almost 30% return from your investment. I don't care what price you were selling your coin but the fact that the result will be the same just like you are trading your bitcoin in the market. ICX gets a lot of increase caused by the price of bitcoin goes up again. But it may be true if you are taking decent profit from icx.

With cryptocurrency patience is much required, users most of the time won't have control over it. They just get into panic and make decisions of selling when the price is low than that of the price by which they bought. Who have kept hold overcoming panic will benefit at the earliest as the price has started to grow as predicted by experts.

I am sure you know the risks of doing such a movement. I would rather keep some of my bitcoins to buy if ICX decrease further or any other altcoin decrease and gives a buying opportunity. It is not a wise strategy keeping all money into one altcoin but as I said I guess you kno these risks, risky movements bring good rewards if it is succesful. Let use wish you will be succesful

Again to clarify...I only used 0.402 BTC not all my BTC. 

I already hold more ICX before this purchase, I just increased my stake. I also hold about 35 other coins. :D

I hope you made a good choice,  when downtrend will over we will see

Posted earlier... I can't lose no matter what now.

Unless ICX get somehing new, basically you are on the same position, the price of ICX is mostly attached to the price of BTC.

I don't think it was a bad move. Don't know anything about ICX but I can look at a chart and know when it's a buy. Much more room for growth than bitcoin all things considered.

Actually its your choice to make. If you dont have any extra fiat to spend with for you to buy ICX then , your decision is more reasonable why you should sell your btc even if it is in dip. Just stay updated on the movemen of ICX since it is also a good coin to hold because of its fast movement.  And hopefully your decision will give you a better profit.

If your move from bitcoin to ICX gives you happiness,so be it and that is the only thing you have to bother about it.It might give you a bigger reward than bitcoin,but i would invest my money in it rather than converting my bitcoin to a altcoin now,i have not heard about ICX,since you have given the hype,i will be checking the coin tonight as it is trading around $4.19.

Even if you sold at less $7000 but still earned profit, then I don’t see any problem with that. And reinvesting it into another currency is totally your bottom line. It seems you have a plan and you are taking on the risk. Probably a gutt feeling that’s been kickin’ you in the ass pushed you into doing it. Though this on going dip is actually the perfect time to purchase more BTC (as the previous posters mentioned), which is the more practical thing to do. But it’s your money, and it’s your decision. Whatever the outcome, it’s all on you.

Selling at the time that Bitcoin market value was on the downward trend shows that you are of the people that contributed to the downward movement of Bitcoin and other altcoins. It will not be a panic sell only if you still sell high as compared to the you bought your Bitcoin and not because you re-invest the said amount of money.

most of lower price altcoin have better leverage to increase your holding when the market going up again, nice move here, there is way to gain 5x doing arbitrage in this market right now but I haven't try it yet, if you look at coinmarketcap, there is exchanger with rapid price decline but there is exchanger still trade at 5x price for some of the altcoin if you buy at the lower price transfer it to another exchanger and then sell it you get at least 3x-4x more coin

Why you ever sold at the dip ? How if icx also gives you dip when you cut loss your poaition. Crypto need to be hold atleast several week or month or maybe years. Look and learn from the past it is not bubble because people saying its bubble. I always thinking other way from many people. But if people not saying its bubble its mean it is bubble.

I also think there is no need to get sad about what has happened. As we are humans, it is not possible for us to live a life without making mistakes and that are also essential in order to mature us. Regrets bring nothing but just waste time. Bitcoin is still suffering through decline which means there is still time to correct that mistake of selling out bitcoin.Also, the holders should not sell out bitcoin until there is a deadly need of money.

The main thing is to learn from your mistakes. It was not necessary to sell everything, it was possible to sell only a part. Now you can only hope for the growth of the ICX.

LOL...learn from what I did...read the thread. ;)

So many people do not think and are one track minded... sad.

It was a bad move. You could have bought the ICX now that the price has gone up.

Another expert...sorry I made 25% then. LOL

there are times that are very convenient for buying but we always wait a little longer because we believe that we will always be better

I think its better to buy btc again and hold for sometime. It will reach 26000$ soon..

You did it right, as long as you still make a profit when you sell your btc at the dip then it is better than just holding without doing anything. Indeed it is so risky, but this is how trading works. Grats on your profit and I can say that you are a risk taker trader. :)

So you've already "lost" 20% just by not holding on to your Bitcoin. But your ICX is up 50%. So you made the right gamble.

But yeah, don't worry. I made many decisions to buy into alts last year when BTC was around 4-5k. In overall estimations, most of the alts have risen and ensured that my total fiat value is more or less the same. The benefit I have now is that I'm diversified, so if one or two coins go down, I'm okay.

You should still keep some Bitcoin though. Alts are nice to see growing, but every portfolio should have a healthy Bitcoin percentage.