Bitcoin Forum

So many people have experienced the last all time high of a Bitcoin price high above $18 000 in 2017 and they invested loads of money into a dream of a better future, if the price goes back to $18 000 or much higher than that.  :P

Now, I am not saying that there is something wrong with having those dreams of making massive profits and funding future projects, because it is still a possibility.

I think the focus should rather be for us to take baby steps to that goal and the way for us to do that is to take small profits when the opportunity presents it self. The concept of buying low and selling high is as old as the mountains, but it is just as affective if you do it more frequently. The Bitcoin price has recovered from the all time low with more than 20% and many people are waiting for it to bounce back to 60% or 80% before they start taking profits again.

If you were one of the unlucky people who bought in at the all time high, you obviously have to wait for the price to recover to your entry price to break even or to make a profit when it pass that price, but there are enough volatility now to get in at a new low price and then taking small profits based on the smaller recovery increments.

If you re-invested at say $5000 and you sold lately at $8000, you could have reduced your precentage loss for the investments that you have done at a buy in price of $18 000. <If you do not want to wait for the $18 000+ price to come around again>

A buddy of mine has done this and he wiped out his potential loss within a few months, by simply buying in low again and selling at more frequent intervals.

Ps. Also remember to spend at least 20% of all the coins you buy, to feed the merchant network and use case for Bitcoin, or it will die as a currency.

Very correctly written, but  I think not everyone thought in that sense. Buy low and Sell high. Most of them who had bought Bitcoin are still Holding or they have written it off as Bad investment. Only few might have bought it  back at $3500 - $5000 level. Those who did buy at that level are either professional or smart investors. It not so late for anyone to cover some of the losses, you can still buy at this level and wait till the end of this year.

P.S - DYOR

Selling along the way is actually what most people do, in fact very few people hold to precisely sell at ATH. In theory it all sounds easy - buy/sell with portions, buy the dip, sell the tip and so on, but on practice everything is hard. But I agree with you that not being too greedy is one of the important skills in trading.

I will start using BTC as a currency when I'll be able to buy products that I buy and at competitive prices.

The strategy is never to stop investing with bitcoin. When there is a dip that can be an opportunity to buy more and when the price goes up cash in and make some profits. Unfortunately, many people are actually not interested to do this for many reasons. Some do not have the time and some are not really inclined to be investors as they were just hyped into bitcoin. One thing is sure if there is a will there will always be a way...and this is quite true with investments.

i have always been doing that specially as the number of merchants have been growing and i could find more and more products that i wanted to buy with bitcoin.
but the problem is the fees, they are starting to rise up again and i don't like paying a hefty fee to purchase things and also the number of merchants could start shrinking if it keeps up.

But the problem is many people have stuck at a high price and they cannot selling the bitcoin because that will makes them get a loss.
They don't have more money to buy a whole 1 bitcoin because their money was inside on every coin they have.
We can see many people have spent a lot of money in a few years ago, and many of them have not sold their coins at 2017 and still hold until now because in that time, they want to make more profit and that makes them delay for selling their coins.
But if that people can add more money to his balance, I am sure that he can slowly recover he lose and he doesn't need to wait for another bull run because he can get a profit from small amount until he can fully recover his losses.

Nobody is saying to buy one whole bitcoin. But truth is that people who had purchased at 17K+ has lost hope (Actually they never trid to understand bitcoin technical perspective, al they saw money which dwindled.)

My most of friend want to sell their holding if they get their buying price and they do not want to do more investment.

Taking profit is something I engaged in, in the past and was successful at it but tried this recently and it backfired although then I was operating under some frustration. The best option has always involved hodling until your target is reached although taking some profit and rebuying when the opportunity presents itself isn't that bad but you shouldn't encourage everyone to partake in this strategy because most investors in the community aren't mature for what you just suggested. This suggestion is just like trading and not everyone can succeed at it.

Do what suits you, if you aren't ok with taking seasonal profits (currently I know I'm not) then stick to hodling your bitcoin, it has always been the best option.

True, people should not rush in investing and earnig in crypto. A lot of people think crypto is a quick way to earn money. However, people should know that crypto millionaires started investing in crypto when it's price is very low and patiently hodl thei investment till today. A lot of people had lost a lot of money due to FOMO last bull market, I think this will serve as a lesson to think before investing. Crypto can be your way to earn or loss money depending on your investment plan.

well from my point of view I think your correct. the main think is we all are greedy for high in fact to much high profit. We think that we will invest 5$ and in return we will get 200$ in the next day.

Yes it is better to do some trade it rather than just holding it and gaining nothing and waiting for your lost to recover,
But it is not easy and most of those investor back in 2017 doesn't really know a thing or just invested due to FOMO and hype ,
But I think if they already lose enough they would somehow make some steps to gain back what they lost and that is by studying how to trade because it is the most effective way to earn in crypto,
Don't fall for those online investment scam or those fake cloud mining sites learn how to make your own money by your own skills and knowledge.

There's no easy way to gain a good profit but by taking things easily. There's no harm in aiming for the best profit but we should know when to invest and when to sell. Perfect timing is the right thing to do.
Sometimes, one of the common thing that could give us regret and mistake is  being greedy. We should take things step by step because there's no shortcut to success here in crypto world.
It's a long process of trial and error. The best thing to do is just to keep trying or keep investing but always keep the basic rule of trading in mind which is to buy low and to sell high.

That is true, and many people have desperate because they bought bitcoin at $17k-$19k and after that, they see the price went down, and even it reach $3k-$4k, so that makes them lose hope.
That is why I said if they can add more money to his balance, they can try to buy bitcoin at the lowest price and sell bitcoin when the price increases.
I have seen some of my friends still waiting to see the price can rise more than the price they bought and they still make more investment and not just in bitcoin, but they also invest in altcoin because they believe that all bitcoin and altcoin will increase later.

That's actually a thing about to happen.. look back at 2-3 years ago, we had nowhere to spend our cryptos but exchanges while now we have lots of online well known stores selling stuff / services and, depending in where you are from, you can even buy it in offline stores.. lots of stuff for us to spend our cryptos in a daily basis.
I don't know what exactly you mean by competitive prices but here, in Brazil, many stores will offer you some discount if you use BTC (or cryptos) as payment method.. they are aware of the growth the coins had lately so they are trying to take advantage of it

It the right time to change the mentality of seeing bitcoin as a get rich quick scheme, because this is what have lead so many investors in frustration because they jump in when bitcoin was at it all time high of above $18,000 in 2017 and are expecting the price of bitcoin to rise above they cost price. But the truth is we must understand the volatility of the market which is unpredictable and should invest what we can afford to let go when our expectations never become reality.

Can't agree more! People should start learning to take baby steps and make small profits to wipe out the previous losses. It's definitely an excellent way. However, majority of the people who bought bitcoin at ATH, are not the ones from trader's segment. They have no idea about what bitcoin is, but they had invested because someone from his/her friend circle recommended them to invest to gain high profit. I personally know 3 people from my previous office, who had invested in bitcoin using their credit card because some wealth manager advised them to do so. Now they just paying their credit card debts through salary and have never looked back at the investment. A personal interest is needed to follow your path here, which is vastly missing for many people invested in bitcoin during late 2017.

In 2017 I used BTC a few times to buy games on Steam - back when they were working with Bitpay, but then BTC fees skyrocketed and Steam and some other businesses have dropped Bitcoin and didn't add it back after the fees have normalized. Aside from that I haven't seen any services that I use that accept Bitcoin - though I've seen a lot of sites accepting donations in BTC, which is great. I'm hoping that Lightning will make BTC more accepted everywhere, maybe it will even make international payments easier and I'll be able to buy some new things that are too expensive or inconvenient to buy right now for me.

It is so funny. Because I and my friend talked about Bitcoin's future and its future prices. And we dreamed something which connected this dream... We don't know it will be real but, It is great to dream it :)

You can use this "strategy" or other word is trading i guess. Yeah, if you know what you are doing and the price pulls back everything is good. if you sell and the price won't come back you are getting mad ;D
I personally hold all of my btc before the parabolic run and during the whole bear market. i believe in bitcoin for longterm, buying and selling to the right time isn't my speciality ;D

more than making money out of bitcoin i real want it to succed and change the world of economics in some way shape or form, i realy think it can make a huge impact on the world if its used for its real purpose of bridging the cap between those that control all the money and the people that use it.

I don't know if I successfully managed to do what you said, but thankfully I was able to make a decent living out of buying in and out of the market with no overly-greedy target in mind. I first sold @ $2900 and bought back @ $4300 before letting it all go @ $17000 and calling it quits from there. Right now, the coins I bought @ $6000 and $3000 are all in profits, and I am calling it done once price breached $8500 or so. The thing with people is they want to have it all, without regard for the different actors and factors at play in the market, ending in a rather unpleasant way for them, e.g. those who bought at the top of the 2017 ATH.

That true that if you have willingness you will do everything either the price of bitcoin is totally down or not if you are truelly investor/supporter you will do something,strategy are everywhere so you need only a smart perception about it to get an profit.

Totally agree with you.
We need  gentle rides to the tops and bottoms not unsustainable extreme movements. I believe merchants won't have problems with cryptocurrency with mild fluctuations. We should have some degree of certainty.

Wish there is a decentralized algorithm that can keep price movements  mild and a bit predictable. 

Meh. I'm not going to force myself to spend Bitcoin just for the sake of spending it. I use what I consider to be the best option, which one day might be fiat, and the other day Bitcoin.

I would however be more motivated to spend through Lightning considering that it offers more privacy than on-chain payments. On-chain payments require me to first mix them, which isn't a problem doing so from time to time, but not really pratical for use on a daily basis. Lightning makes life way more easy in that aspect, and it's more convenient than any other centralized payment option. The only downside is that it doesn't have as much adoption (yet).

I can't blame people for trying to work their way up on the financial ladder. Those who joined this market under $10,000 last year probably thought that it was normal for the price to keep increasing rapidly.

Greed that they very likely never before dealt with suddenly takes them over completely. As long as the price keeps going up they gain confidence and become more greedy, but these pumps don't last endlessly.

The correction that followed afterwards was a shocker to them. For the first time since they entered this market the price didn't do what they wanted it to do, and that continued throughout the whole year of 2018.

Good thing is that going through a bear market makes people stronger and become firmer hodlers. It's a costly mistake, but one that they no longet have to make in the future.

I am really using Bitcoin as a payment now, even accepting Bitcoin as a payment also for my business. In the near future if we manage to build our new business of a small restaurant then it will also be a crypto friendly environment. I guess that could help the merchant network and supports the Bitcoin as a currency. I hope some small time business also in my country will follow, that way mass adoption could be accelerated.

I also use bitcoin for payment where is possible, and i hold some but i will not sell for low price and i also want to get a good profit in future if is possible for bitcoin if i sell, so i can change my life in better.

Bitcoin got a huge potential to rise again and it could be very valuable in the future, but not all people got the time and experience to trade, the best thing they could do is investing and hold for a long time, I personally believe that we will reach another ath in few more years, investing in bitcoin is better than investing in stock or other fiat investment

The thing with these wild spikes in the price is the long-term damage that it causes. People jump into the market when it is at a ATH and then when the long correction phase starts, they get frustrated with the long waiting time to recover their investment or some profit on their investment capital.

A lot of these people never invest in Crypto currencies again, because they feel cheated. They blame the technology for their own greed and lack of understanding of market analysis. <timing the low and high entry points>  ::)

The easiest way to reduce the "waiting" time, is to re-invest in the "recovery" time and to get some short term profits on the way up.  ;)

Even though I was caught buying at a price of $ 14,000, I didn't immediately let go of selling, because I didn't want to experience a big loss. Because I'm sure bitcoin can exceed the price when I buy.

the way I see it is that with bitcoin I get the opportunity to be a part of this big revolution that is happening in our time and at the same time enjoy the financial freedom that bitcoin as a decentralized currency is offering me among other things.
on top of all that, bitcoin has an additional benefit which is its value that keeps on increasing mainly because we are still in the early stages of its adoption and we are considered as the "smart money" in that popular S shape curve that shows the big rise and the bubble that follows that.

I think you're right. Most of us are greedy to get high profits to get a lot of profits. We all think of investing $ 100 to get $ 1000 in a few days

If you know how to make money ups and downs are all opportunities, but for low volume buyers it's all about arbitage trade unless you are super lucky or smart on small pumps. Some argued a long hodl does return more on a full recovery, but I believe lossing a little makes more than just money as you wouldn't how to react when market go against the trend suddenly. There's not really ATH in such market, taking profit is priority for me for accumulations, better position through keener speculations

That is true that losses can be recovered if one takes small profit at every small run but the problem is its very difficult to predict where we should book our profit.Suppose if someone has bought BTC at $4500 and book his profit at $6000 then it may be regretting for not waiting BTC to reach $8000. Taking  trade is easy but managing it is too hard. If someone can analyze levels, enter and exit at right points then not only he can recover his loss but he can earn good profit as well. If some can catch the levels perfectly then he/she would avoid to enter at highest point.

I'd love to know how many people have put other areas of their lives on hold with the expectation of crypto getting them out of the hole they're in. I'll bet it's more than a few. It's understandable to feel that way but if you take a step back and think it over it's a pretty situation to wind up in. 

Yeah right mate,making those decisions can brings us to semi long term holdings when we are buying at low and Selling in at least 10-40% profit so if we ca make this for 3 consecutive profit it means we have almost a 100% by that time?enough to cover the future losses if we fully invest and wait for long term

That’s what I am pointing mate,smaller profit can be big if we get the rhythm of proper buying and selling(though you are right,this is very hard to achieve)

People who got stuck buying at an all time high valuation have no other option than to hold for a longer period of time and if they had the patience to hold this long, then there is no point in selling off for smaller profit margin and playing with the market situation as the risk is really high when it comes to bitcoin as you never know when the price will rally, if possible purchasing the coins and averaging out the price is a good idea, other than that keep for the long haul and then sell when the market is on a big rally when it touches another all time high valuation.

You are thinking like an intra-day trader and those that desired to play safe in case what is speculated do not happen, do trade in this way! The market has Rewards many of us here that wish to hold for long-term and I think there is no any form of investment that has given good returned for the past three years like bitcoin and crypto market! It is good to take profits with little increase in price but that may not make you rich but if you can buy when bitcoin was down in the past and hold for the next three to five years? That is what will make you to be rich and that is a very high risky thing to do.

It's quite funny but true. The time when I wasn't really aware how things goes by or how to buy btc, I bought it at high price and suddenly it dumped and for so many months it tested my patience since I've been waiting for my investments to recover. When there is small profits, I am still hodling until I get back what I lose.

Sometimes, it is better to dream in an optimistic approach like seeing btc's price to be around $20,000. It's nothing wrong if we conclude on that way. Anyway, this is cryptocurrency and it is possible to reach that amount.

Even worst, how many great Crypto currency projects was put on hold, because of this huge drop in the price.  ???  People should not allow the drop in the price to influence their future, they should act proactively and re-invest as quickly as possible. If people invested in the beginning of this year when the price hovered between $3000 - $4000, then they would have doubled their money in 6 months.

Yes, it is nice to look at this in hindsight, but you have to take risks to reap the rewards and all the signs was there that it would recover again.  ;)

It seems to me that Ethereum will soon be on a par with Bitcoin. Especially if Microsoft, ConsenSys, Web3 Labs and others will actually run a single coin on its basis, as they say in the news

In general, it all depends who is the first to create an affiliate cell - small companies or unite large market representatives? Here is a game ahead of the curve. But the fact that the blockchain plays a leading role in innovation, no one has any doubts

Ebay, Amazon have already accept crypto payments, Facebook is launching own coin – I guess it’s not bad index already

Good thing that he really believe on bitcoin and at this time one can really earn after buying from 3K usd to which market price for bitcoin now reached to 8.7K usd. Well if your friend OP does want to profit more with bitcoin then better told him to hold it until such time that bull run will going to happen. There is a high chance that bitcoin can reach 10K this june and 12K in july 2019 then bull run at the later days of the year 2019.

It is just that your friend OP needs to be online always so that he can see market price movement and sell anytime if he thinks needed especially when bitcoin market price drastically falls down.