Bitcoin Forum

Another drop under 240 usd is just around the corner.  Is it a good time to convert some to fiat for the time being?

No, it is going up again just now. :P

You might want to sell, or go margin short, at like 260. Good luck.

This is why bitcoin has massive swings because of the "ohh no its going down better sell" mentality that everyone has. By selling you are only making the price fall even further down this is because you are increasing the supply and it drives the price down because there is not enough demand to buy up all of the supply that is on the market.

may you can try it firstly
wish you success  :)

If you think that prices will go sub 240, then it is of course

But when threads saying that X will happens usually becomes common when the opposite of X is going to happens.

IMO Bitcoin wont go below 240... I think it might hover around the current price for a little longer, then we might see a nice jump in price. But no one can know for sure.

Oh wait, If you are so confident of a drop coming pretty soon, you ought to put everything you have to short bitcoin. And that means selling everything you have including your clothes, car and house to bet on that drop. If you are so confident....

So there's that possibility that it can go down?

Yeah "if"...  But nope.  That's why I'm just asking what you guys think.

This is the speculation sub forum.

And it ain't our fault there's not much demand.

there is always that possibility, but the 230 floor should hold strong enough to not make this happen easily

only whales know what will happen. we can guess as much as we want but there is always a 50% chance for it to come true.
if it didn't come true you don't see these people anymore. they will then create a new account.

I don't think tokeweed will stop using his hero member account if he gets it wrong. If it was a newbie account it's no problem, but hero member accounts take don't grow on trees.

If it doesn't come true, then it doesn't...  So what? 

This is the speculation subforum by the way.  So that's what this topic is for.  Speculation.

I don't care if I'm right or wrong.  Just speculating if it's a good time to convert some BTC to fiat for the time being.

will be going under $200 next week

care to make a bet on that one? were now ~245$ and that is after the fall from 300$, the next thing to expect shouldnt be another major drop, altho 220 still
remains as an option for floor price, but under 200? i dont think so, theres too much positive things happening, and if that was to happen i would go all in , because i believe it would be a massive manipulation
of the price.Its funny how everytime bitcoin price falls, people get so pesimistic, but its natural for corrections to follow after a sharp rise.

cheers

But the demand is retaliative to the supply it is the seller fault that there is not enough demand.

Blame it on the professional miners or maybe the whales who hold a huge amount for selling.  I'm pretty sure a majority of people here cannot move the market.  

As for lack of demand, who's to blame? 

in this case it's a hero member. but there are people who create each week a new account with threads like 'bitcoin goes to $50 next week'

Not even whales, whales can only manipulate at a certain extent. Unless there is a big ass conspiracy of all whales ever acting synchronized, they can not decide the price on its entirety by themselves, in other words there are whales vs whales wars going on.

Generally anytime you have panic selling , no matter is undervalued at the end of that panic cycle... buy when there's blood in the streets

But how would one know when to buy?  What if I buy now, and it goes below 200 and stays there for another 1 or 2 years?  Wouldn't that money be better invested somewhere else?

Not if after that 1 or 2 year period the price rises to 5 or 6 figures. How patient are you?

Hopefully patient enough.  Look at this Nikkei max chart...  http://finance.yahoo.com/echarts?s=%5En225+interactive (http://finance.yahoo.com/echarts?s=%5En225+interactive)

It's been decades since it has reached its high.  Will that happen to bitcoin, who knows.  But it's possible.

Time to sell, I sold at 255$ yesterday.

Nope you might as well hold why bother converting to fiat paper now when you could have done that at 290+ just a week ago?

Seems a bit of a waste of time even thinking about it now, the chances are you convert to fiat and it goes back up 260+ the rises surly you have been around long enough to have an idea what to do  ???

do people really do that  ;D

Exactly.
Why endure the stress that it means to sell, and then to keep checking the price for "the right moment"?
It seems like an awful lot of work for small gains that might not even happen.

this is what whales want you to do now, panic selling, thus they can buy and pump this sick bitcoin again, then little investors will follow the pump buying into it, this will lead to another crash by the whales

i would wait if i was you, it shouldn't drop too much

Yes this is how it works. Shaking off the weak hands and accumulating more and more BTC.It's all about psychology.And when bear market is over and the chart starts to climb or whales decide it's time move up and probably reach new ATH guess who is laughing then?! I wouldn't sell now neither.

i hear a lot people talking about weak hands. but in general, how much bitcoins do you think weak hand traders have?

Under 240usd now...

weak hands can also be semi-pro traders, they are fighting against pro, so their % of error is greater, also there is many whale vs whale war out there

i don't think too that there are many fish(or many bitcoin owned by those people) trading right now, it's all about semi-pro and pro and some medium traders