Bitcoin Forum

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese  exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

No need of getting panic on the price movement happening with time. In a short it grew to around $40 and has decreased around $30. This doesn't have any relative statement with the Chinese market, but the mining hardness has got increased. If cashing out is the decision make it with part of the bitcoin in the wallet, as the price movements were unpredictable. Even now it suddenly starts to move upwards.

Cashed out awhile back, and will buy back in once a new baseline comes out too. IMO it's not a bubble popping, more of a correction from the recent rise. Hopefully the new baseline comes above $700 at least.

you biggest mistake is that you think there is a bubble right now, but you are in a big mistake. there is no bubble. the bubble bursted a while back when price went down from $1160.
this price is not going to go down tht easily because of the way it was risen.

besides the fees on chinese exchanges and the situation over there is the best thing for bitcoin because they can no longer fake anything and most things are real now.

with all that said, if you think otherwise by all means don't hesitate. someone has to give the whales the cheap coins they want :D

Cashing out isn't always a bad thing.  Everyone has to take their profits at some time--hopefully you actually made a profit.  No one has any idea where bitcoin is headed, so just stay tuned.  But if you're banking on being able to buy back at a lower price...that could be a mistake if we really take off.  We'll see.  I'm hoping I can get my hands on some free cash in order to do some buying.  I have a feeling we're going to break to the upside soon.

Relax. The price is stable right now. We are just waiting for huge whale which can trigger huge pump. Selling right now is not a good idea. But its your life mate. If you think you have earned enough. Then sell them. Then go back when the price gets drop. The price still stuck at $910+ right now. I suggest if your are going to dump. Do it now.

But the bubble did already pop.  The rally back to 900 USD is nothing but a bull trap imo.  So be careful in thinking that this is a continuation of the last trend.  It's not.  And your plan of selling now and then buying at a lower price is a sound plan only if you're selling at a profit.  

Fair enough. Volume obviously is taking a hit on the Chinese exchanges. Whether that translates into a sustained downtrend or not remains to be seen. I think we are still in a bull market.

I'm happy to ride it out the exchange worry as I think in the medium term it will probably be a positive. As always though with bitcoin, you just never know.

it is always expected for weak hands to start panicking at some point and start thinking about "cashing out" that is why other traders are making profit. if things like this don't happen then bitcoin market becomes boring to a point that there wouldn't be enough profit in it.

i mean look at the price we went down to ~$750 and now back up to $920
what market do you know in the world that can give you 22% profit in a week? thank you OP and people like OP :D

You will regret.

chinese can't make the market crashing again, if they dumped and the market tanked because of them and then they bought again(very likely), it would be stupid for them to dump under their "buy back poin"

based on the trend i can see that the market is stable now, even if this does look like the $1000-$600-$800--->$400--->$200 in 2013, is nothing like that

Not if he could get profits and really need cash right now, everyone is free to buy or sell.
He feels that the price will be fall down and planning to buy back at the dip, nice strategy.
But, if the price slowly increases instead of decrease, he may regret it a little bit.
Looking at the price fluctuations, seems it won't fall for now and will rise to $1000 again.

Feelings aren't the one you should listen to when it comes to the Bitcoin market. It's no secret that those that follow their feelings mostly end up making the worst decisions (trading wise). Just analyze the market, and from there you can plan your next action. If you then still think it's better to cash out, then cash out only a small portion, where it then leaves you with an extra bit of fiat that you can use in case the price really goes down. And when the price doesn't go down at all, but up instead, then you still have enough coins to benefit from the increase. Just make sure you never sell all your coins at once. I can't remember anyone being happy with having done so. These people mostly end up buying back at higher prices just to get rid of their disappointment in themselves.

Now that he saw $ 900 gold, he had a very sharp decline. Since his volatility is high, he goes above $ 900 again, no need to fuss

im already several k up re bitcoin, so i think its the safest route with trading volume, having walked away with profits i could only have dreampt of, i think its time to get out for a while!

P.S it is better to buy coins rather than mine, this is what gave me much of my coins! I bought in at $300 each for the most part and bought weekly since. I will reinvest some when the dust settles

i may be a 'weak hand' but im the one with £15k plus profit over the past year from very little, so i think its time! Won't stop be selling my services for BTC as i have been doing either

Well it's that your opinion then we have nothing to do with your future actions. Furthermore, if you still have that kind of view after reading some comments here, then just do what you want. It's your lovely bitcoins after all.

For those person who want to convert their bitcoins now, just do it if you need so. If you will not use it then just hold it and forget those early profits and eye for the long term. Just a piece of advice based on my current doings.

People think the scenario of 2014 might be repeated once again when $900 was still a bubble, but I don't think we are in a similar situation. The popularity of Bitcoin has risen big time since and right now $900 is almost the bottom price IMO.

I don't think it will be as serious a bubble but i kinda want to ride this out, im £15k up and i don't want to get greedy right now!

i think people cashing out their bitcoin into money its normal because they already made profit and they planning to buy back when they see the price is down. but for people which have bitcoin in their wallet and see the price is down, will be panic and make selling and makes the price is getting down so i think we don't have panic to see the price is going down, wait for a moment and the price will be back soon.

well to be honest i don't see it dropping. if anything it is mostly becoming stable and swings are getting smaller too.
there is still volatility of around $20 which is normal for bitcoin.

i don't know why Chinese exchange fees have anything to do with "bubble". and if anything happens because of it, that would be more stability because the Chinese market is more controlled and less wild than before.

again this has nothing to do with price and it going down or up!
the difficulty change, and an orphan block plus some empty blocks led to this increase. and that happens every now and then until we see bigger blocks.

To be in the safelane,  don't convert all. Example, you have 10btc, convert 7 to usd, leave the other 3.


Good call mate. You're a disciplined trader and no matter which way it goes, you're up. Grats

I hate this talk about "weak hands". Every trader is different because their entry point is different. If you cash out at a profit, you arn't a "weak hand", you are a successful trader who has realised an actual profit. Theoretical profits are for the birds. Each trader should do whatever is comfortable for them, don't let people panic you with talk about holding on for their reasons.

I think this is the case too. The thread of "you will sell at the bottom" is accurate. Well maybe not at the bottom but it's going to be a disappointment for most sellers when the price starts going up again. The damage of the PBOC is already priced out, the fake chinese volume was overrated, and fees are a good thing on exchanges to avoid stupid shit happening to the price. This is bullish.

I am happy though with 15k profit, being on your average income, 15k to me is more than 1 years salary so cashing out while I am up this high doesn't worry me too much, i just don't want to get greedy XD

That is the right attitude OP. Do not be too greedy. And even if you cash out right now, if ever, you can still re enter on the price you are comfortable with. Take your profit and enter again the market in the future. If what they say is right, the price will stay go way up. So there are still a lot of opportunities to enter and make profit.

Taking some profits is ok.
However I wouldn't convert all to fiat.
Cash out a certain percentage and keep the rest in BTC.
When you're right and we will go down you still will have more BTC as before when buying back in.
If you should be wrong you wouldn't have to pay that much extra.

Yeah, I don't see how that could be a problem for Bitcoin. The only people benefiting from exchanges without fees are those using bots, while all other people, who have the potential to bring demand, promotion and organic growth to the ecosystem, are those who are harmed by it.
Those who don't understand this may generate some panic in the market, but Bitcoin has risen more steadily lately, so it's unlikely to crash like it did before.

If you are making a profit selling now and don't want to take any risk then its fine if you sell. But I personally don't think bitcoin price will go down further than what it already did after the new year fall.

I would say i cashed out 80% and left 20% in, walked away with 15k and still have a chance to benefit from a price rise should it happen!

I did make much more profit from buying coins than mining, though. Mining was more for fun.

well you will regret it if the bitcoin price will pump suddenly. because you cant tell bitcoin price because we all know that its suprisingly pumping . and the one im thinking about if you're not gonna use the money dont cash it out. because there's a more chance that bitcoin could pump higher. but if you're saving it and you will use it for personal use you could cash it out and buy again when its price dump.

if the past couple of years it has been proven that price of bitcoin is on the rise and whenever it goes down, it is just a dip because traders sell for profit short term and it is there to make a good opportunity for people to buy cheaper coins at the bottom and continue rising.
and right now we are after the dip which means there is not much reason for another one since everyone who mattered has accumulated cheap coins.

May I ask when you exactly bought and sold? If you bought well before the price started to peak, then why didn't you sell at that time? It makes no sense to cash out after missing a more than decent price (+$1100) to cash out at, unless you still make a few hundred in profit per coin by selling at current rates. Mining isn't an interesting investment option if you don't have sufficient funds to accommodate some sort of a mini mining farm. Btw.... What did you like so much about mining? No fun in seeing the difficulty climbs up higher and higher with every adjustment.

i did cash many out at the $1000+ peak and bought back when it hit $800, i was able to catch that train... But i kinda decided after the profits i have accumulated not to let greed take over!

And most BTC mining i did solo for fun. No block like yet XD

Did plenty of GPU mining for ETH and just converted to BTC.

Jacob

I'm feeling the same way OP. Especially with the Chinese stuff, I might swap to altcoins for the time being. I still hold a majority in BTC, and either way I'll just buy cheap coins. But I like making money more than I like losing it so :p

From what I know jammed MemPool was never responsible for any price drop. I remember that during the the biggest bullish trends MemPool was always ridiculously packed.
Bitcoin is now sitting at $900, Chinese crisis is probably over, so IMO it is a waste to cash out now. Wait when we will reach $1000.

Well, i cashed out 25% of my total coins. if the price falls i'll buy it again lol. it probably won't fall, the price will move up!

Cash out 5-10% of your holdings for a quick profit, then buy back if it drops to 600 again.

Son't get in touch with your emotion in the price of bitcoin instead focus on trading it don't get panic on selling your bitcoins in the end bitcoin will increase again its part of bitcoin to those people who are really in trading industry to make profit as well.

Probably, I also think there are more chances for the price to go up. In my analysis, Bitcoin is certainly close to the bottom price, and trading in this price range brings greater risks.

It is possible that the price will fall, but we will hardly see it in the $ 850 range again. I think the odds for this to happen are very low, especially due to the fact that Bitcoin is receiving a lot of support in the market recently, and the current price was not the result of a quick pump, but it was a result of real demand and good market conditions for this to happen.

It's up to you to sell or not, but I think that you have made a profit or you need the cash now otherwise you would hold (that's what I would do) but bitcoin for a while now is ~$900 which is not bad it can be worse or it can be better but unless you need the cash I wouldn't sell them. I don't think that the same scenario of 2013-2014 will happen now because now is another time.

Depends on how many coins you are talking about.
If you have a couple Bitcoin you might as well hold since even if it drops you are only losing a couple hundred dollars/ euros at most.
If you have hundreds or thousands of BTC you may want to sell 25-50% if you think a big drop is coming, or move some into Altcoins.

well being 15k up i made the best decision for me I think, i have become disheartened with the lack of progress re the block size debate, the endless greed of many (not all) invested in Bitcoin, pand being your average person on an average income, I will pocket 15k and then just watch from the sidelines, if it rises and i end up being wrong then so be it as im happy with 15k, if it falls low enough, then i dodged a bullet and will buy in for the inevitable rise. What Bitcoin needs now is not more useless speculation and trading, but actual utility as a currency, or it will be surpassed. We can only stay at 1MB blocks for so long.

I have high hope for Bitcoin, but not many people using it who just see it as an avenue for quick profit and not an actual currency. Many care about Bitcoin too, but many more seem to not give a rats ass about it and as such this block size debate has gone on and on and on and its disheartened me enough to make me want to cash out, because i just think like the US housing bubble, its all hot air and speculation, unless we get some actual utility and solutions i do not see how the price can go 'to the moon', if we implement a good scaling solution then i can see how that is possible. I have been invested in BTC for 3 years, and my decision to cash out is mainly riding upon the fact that not only have i ended up with money i could only dream of, i am amazed that two years on, this block size issue has not been solved, still the same old debate! Of course everyone is entitled to their own views, and mine may come across very strongly, but what BTC needs is actual utility, adoption, and ease of use as a currency and the ability to handle TX volumes of a currency. Or it will take it's place as digital gold, not a currency, which is fine too.

BYE! it is best that if you cannot handle the markets that you simply go away, rather than trying for one last drama queen thread.  the fewer people that have no idea what they are doing in the market, the better.  it is the loss of these penny traders that reinforce the markets for those that put real money into the flow.  rumor chasers and drama queens deserve the door and please, do not come back.

It did drop a bit today but not enough to say that you want to cash out like you do when you are at the casino.
This is not a quick game of slots. :D
If you are in it for the long haul then you won't give up that easily when the price is not what you want it to be right now.
Just stick by it and you will reap more rewards in the long run.
Trust me! ;D

let the wimps go, you sound like one of those that had the sense to get in and stick in.  i bought my first full btc at $79, and have packed wallets with newer alt coins that met the specs and hit 0.006 or 7 the next day.  if they can't hack it, then hack them.  it is a hard life and there are plenty of cardboard boxes for the homeless.

I am up £15k GBP so am not complaining at all, not stopping me using BTC for my business transactions for my freelance work with my clients, but cashed out my BTC holdings while £15k up, just not getting greedy. Not being a 'drama queen' just realistic and not greedy, i started this entire thing with barely £2k and ended up with £15k in two years, that is not bad going at all and thats the thing, you can keep gambling hoping for bigger returns, or there comes a time where you pull your 'winnings' and call it a day.

What i do want to see as i continue to conduct business in BTC is less volatility and more practical utility with it. But two of the above posts are exactly the problem with Bitcoin, the arrogance and feeling of being infallible, if the 2008 crash is anything to go by, even bricks and mortar were not infallible!

being a drama queen is the fact that you think you have to share this horrible loss of a valued trader, that is sarcasm.  just stop trading and stop caring to let people know about your life.  we are not here to give a shit what you do, we are here to actually make money and help each other to do so, and real money not some nickle slots grandma's fortune at vegas.  you are not special, you and your views and not needed and leaving does not require an announcement.  here, when we attend an occasion, they announce our arrival, that is what happens when life is good enough to share with others.  your friday night at the local pub is just a pathetic footnote in a life that will fade away with nothing to show for it, just like your ancestors and the offspring that i am sure you are soooooo proud of.  try facebook, they seem to care about the little people, take a picture of your morning breakfast and share it with them, you will feel right at home.

valued trader? I don't trade, I held for a long time XD

And Yes i posted an announcement of how I felt, just how many others post their speculations, i may be wrong or right, if you don't like it then don't waste your time reading :)

I have more to my life than BTC, but i just feel that now is a good time to cash out 80% of my holdings, what happens next is something im content with either way, weather I win or lose. Just like they say on would you rather

'no... no no no your not the gambling type are you? you prefer the sure thing?'

I do feel the market is entering into an uncertain time, and why I cashed out, but if you read my posts i said 'buy back in' if it dropped low enough, indicating i was not 'leaving' but cashing out into the british pound (GBP) to ride out this turbulent time.

Basically i make my decisions based on my research, not speculations and so far its landed me nothing but profit, this I am unsure on, and being unsure meant i cashed out to ride it out. Plus i am using some of the cash to see my friends in nepal as i have a good network of friends around the world from my travelling history!

Nothing is wrong with the currency itself, but it is interesting to see where it goes. I am not worried about becoming a millionaire either, when you cross into the spirit world, you do not take it all with you! No pockets in shrouds!

And btw:

" your friday night at the local pub is just a pathetic footnote in a life that will fade away with nothing to show for it" = I don't drink nor go to pubs, i travel.

"just like your ancestors and the offspring that i am sure you are soooooo proud of" = Ancestors = high flying nurse who worked hard, offspring = I am gay, so that ain't happening! So ends the gene line!

And sure, if your there to make money you go and do it, its entirely up to you what you do with your funds. Just take your negativity elsewhere ;)

maybe china has banned residents from using VPN (they are already violating the basic law made by themselves #35 #36), residents and/or those operators are probably making some extension to bypass the internet censorship using bitcoin. unless the volume in chinese exchange sites are proven illegitimate, the current bubble is likely to be stable.

I like when people speculate and think they are right but you are not! miners with cheap electricity are in huge profits so they are selling what they are mining that pulls the price down but fortunately at the same time there is enough demand which is also growing rapidly that pushing the price up, look at these new mining farms popping up every day.
Only thing that could derive the price below $800 now is a 100k+ sudden coin dump, but I don't see or know any idiot with that kind of bitcoin reserve to dump because an idiot doesn't have 100k+ in the first place.

I Made more money buying coins than mining, and that is due to the electricity cost. If it were free it would be a diff story :) But as it happens...

So for most it is best if you want to make money to buy coins with fiat rather than chasing them with hardware as difficulty rises, unless power is cheap or free. That is what I did although i made a fair bit mining ETH with my GPU farm which is still mining ETH and shapeshifting it to BTC.

I am not saying I am right or wrong, but that I want to cash out and ride this out

Jacob :)

thank you for proving pretty much everything i said and yes, thank you for not breeding, enough people like you around, and no, it has nothing to do with the fact you are gay, it has to do with pretty much everything else about you, the fact that you think that these minute little things about you make you anything but the people that the rest of us tread upon to get to the promised land, i suppose the rest of us need little nurse people like you to help out the DOCTORS, that is what happens when you go to school beyond secondary school, and yes, please travel, the private plans we fly in need large boats of lower class people to use as visual aids when flying, and the terrorists will, if there is a God, take out you guys.

You would be surprised by the amount of stupid people who hold big money/bitcoins/valuable assets.
To have 100k+ BTC you could be early adopter, many of these people were crazy individuals.

To all who are speculating that BTC will crash - if you are so worried and panicking already, then sell your toys and go home.

they want to whine about it first and have everyone beg them to stay, the wusses need to bail and leave the markets for those with the guts to play

This is not time to cash out. Is the perfect time to invest in alts. If the BTC keeps going up, it will become expensive so people will try to gain money from alts. If BTC goes down, them people will try to cut loses with alts. So anyway i think the alts are now the best option.

Lol... Coming from my partner "you are a cock end" (hes reading this with me, sat on the sofa having a coffee and a laugh and a match of cod zombies with my mate tonight...

Enjoy your wealth and upper class, but it is very spiritually devoid. I do not judge you nor do i feel angry, negative or in any way affected by what you have written because I personally do not worry what others think, one thing david icke got right.

Money can only take you so far in the world... The fact you took the time to write vitrol shows what vibrational rate you reside on and I am sure you are the sort who watches the news and feels bitter and down, or angry or otherwise has time to expend writing shit, sat on a high horse on the end of a computer. But that is  your path and you are free to choose it, you take your path, and i will take mine. Now to add to my ignore list. Love and light to you!

the guy is just trying for attention, but i agree, or, even if people are on an exchange that does not let them withdraw fiat, they can start exchanging their btc and fiat within the exchange, some forget this option because they have no intention of pulling the fiat

I think there are some promising alts atm, ETH and Monero, monero in particular I have some holdings in. My concern with Bitcoin, is mainly the lack of utility because of the block size limit, unless that is sorted it will not handle much more TX volume which is needed for wider adoption and it became disheartening that no solution has yet been found, if it is not found soon some other solution may come up and take the thunder!

I did give HODLCoin a whirl too, i did not buy any as I was very unsure but mined aload and HODLed it, that one went to shit due to the hard-fork, but it was a fun time trying to increase hashrate via CPU mining the HODL algorithm.

Monero is good and I think a solid cryptocurrency with a good dev team.

Jacob

what makes you think i am spiritually devoid?  see guys, here is the difference between those that are right and those that try everything to be right.  i based every single thing i said about you on your statements here.  you pull shit out of your ass based on things you have no idea about.  my spiritual life has never been brought up here, so you have not a single clue about it, and, yet, try as you might, you stoop to making shit up and crass, second class, vulgarity.  thank you for proving every point i have made and then some.

Don't try to cash out your money there still a chance that bitcoin will be increase always be patience and evetything will be fine. Don't panic just because bitcoin price is decreasing i'll tell you what bitcoin price is normal compare last last year. the price really makes me cry when i remembered it.

what are you talking about, last year was from $250-600, this is a higher price than pretty much the entire last year

I spent some of the money to see some friends in Nepal for 1.5 months, you can't beat going to the Himalayas and seeing good friends in the process, im keeping 80% as fait and watching the market closely and seeing what happens. I am also still earning BTC from my BTC freelance which nets me a total of 0.05 BTC/day atm anyhow!

Jacob

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out.

Somehow to imagine going to Himalayas and meet friends sounds amazing, something that I am willing to do.
Nice purpose to sold your bitcoin, earning from your work and effort and no one can tell how to manage your own funds.
Moreover, sold 20% off was a good decision and total earning 0.05/day is fantastic in my point of view.
Well, my principle is never sell because of the price falling down but only if I don't have any money left to use (desperate, need money)
So, everyone free to do what he wants to, but panic sell is not an option because you will cause others to do the same thing.

Looks like Bitcoin couldn't break through $890 and seems to be slowly crawling back up. I remain cautious, with about 10% of holdings in fiat, 5% in NEM, 38% in ICN, and rest in BTC. While I think I can handle either a dip or a bull run, everyone likes to make money vs losing money  ;D

The market seems to have shrugged off the news about fees on Chinese exchanges, like water off a duck's back.
Price has actually increased (albeit not much) post the news.

The price of bitcoin is good, though the Chinese exchanges experienced a collapse. This doesn't look to be the proper time to cash out. The price is expected to increase as everyday some difference in price can be felt.

there is no collapse anywhere!
what is happening with Chinese exchanges is that they have added 0.2% fee to their trades which eliminates lots of trades because of it being less profitable to short and also they removed their margin trading which also eliminates lots of trades so volume dropped down.

you have your reasons, some posters here may agree or not with you, you need to be clear that despite you can find some good advices here, just the market trend, logs history of btc prices, the amount of sells and buys, and some news related can give you the answer you are looking for, its not easy, but the answer its just out there.
good luck, in what ever you decide

I do not thing the Chinese exchanges collapsed, as what pooya87 said, the fake volume had been removed.  So what we are seeing now is the natural trade volume of Chinese exchange.  And i removing those fake volumes is beneficial to accurately see things on what is really happening in Bitcoin market. 

---

I do not see anywhere that bitcoin price will go dip at this moment.  And it has shown that the current floor is somewhere around $900+ for some days now.

Oh so that was the reason of minor dump in recent prices of the bitcoins. By the way Whats exactly is the date of Chinese New year ?
For cashing out bitcoins, i am not interested and will be keeping them save for long term.

The first day of Chinese New Year 2017 is 28 January and it will last until 15 February 2018.
Their New Years Day always falls on the new moon between 21 January and 20 February.
2017 is the year of the Rooster.

And what do you think is the support level at which the dust will settle? $800? $700? $600? $200?

It's a tougher ride when you're on the sidelines than when you're in the game. At least money on the table gets upside appreciation and if the price goes down you can just buy more at a lower price and bitcoin cost average your cost basis...average down as they say.

I don’t see the signs that we are in the middle of a bubble that already ended a few weeks ago it seem this price is going to be the new baseline for a while unless a new hack happens or something that affect the price.

Since fake volume created by margin trading is now mostly gone it will be hard to see steep upward trends aka bubbles from now on.
Highly automated trading is gone too - because there is no more trading with no fees. What I expect to see is slow price increase and less volatility.

Bitcoin market is crazy but current price is totally undervalued, 1 mBTC costing less than 1 dollar is crazy for a currency with only 16 million units issued

it is around $.90 . bitcoin has only hundred thousands if not millions of active nodes so far AFAIK. if the bitcoin is being popular, 1 mbtc could be worth as as much as today's two.

its good to see that in chinese new year which is 28 january, the bitcoin price is not going to down for deep and the price is somewhere around in up to $900. and if we want to cashing out, then i think this time is a good time to make money but in other choice is we can still hold our bitcoin for another increasing the price.

 I would love to see this. I think it would be good for Bitcon too, I'm personally more attracted to a steady price increase then sudden jerks up and down. Furthermore, I think for outsiders  this "legitimizes" Bitcoin if they were to see it gain like 2% in price a month vs a jump to like 50% with then a sudden crash to 24%.

I see there are Bitcoiners here getting very jittery and they might be anticipating a market crash or something. The answer might not be to "cash out". You can get of both world by doing short selling. Short sell Bitcoin and profit from the fall if you think that is where it is going. The end result for you would be more Bitcoins.

Same here  I prefer a steady price increase than sudden spike.  Sudden spike brings harm than good.  Anyway  I think the price wont crash anytime soon.  It had been moving sideways for several days now with little fluctuation.  I wonder if bear had already take over.

Bitcoin is far away from any bubble pop now. It's predictable future for bitcoin, cause this currency hasn't inflation and growing up with high temps. The danger of the bubble piping will be on the price around 10000$ and today bitcoin is still in the most beginning of it's story. So don't scare people without a reason, please.

I remember seeing one thread where a member calculated since the creation of bitcoin, bitcoin has appreciated in value about 6% per month which is fantastic if we compare it to any other investment.

The market is very fickle. The minute the OP decided to "cashout" the market thought to spite him and show everyone that the rise to above $1000 is not over yet. So what now to those who decided to hold fiat? Did you get back in or are you getting jittery again because you think you might be left behind again?

The best strategy for Bitcoin is "buy the dips".

Has the OP been back since he made this post? I would like to know if he still feels the price will drop quite a bit? I got mixed feelings atm...

Price went from $900 to $980 since OP created this topic.

Price may fall again, but I really doubt that will be for lower level than $900

OP must be crying now, or decided don't look back, so no risk to see that the price increased

I thought we were heading for a drop too when the transaction volume dipped as low as it did after China stopped margin trading and zero fees. I am not sure what to make of this right now.

the mentality of thinking that bitcoin price could have fallen because of Chinese exchange volume drop comes from years of spreading FUD and saying bitcoin price is affected by China most of all. which is a wrong mentality and it will start to change as time passes.

the recent events proved that China has never been big in bitcoin world.

i would love to see what OP has to say now too.

It wasn't just the China volume, it was trading volume across the board that dropped. It was the total drop that had me concerned. Right now, everything looks good.

The FUD due to the Chinese regulatory agencies on exchanges proved to be something temporary, just as I was speculating a few days ago. In the end, this is something that has no impact on most people who use and trade Bitcoin, because there are few who use bots in comparison to the number of ordinary users.

It could've just easily went from 900 to 810. You win some, you lose some. Day trading wears me out, so I just tend to buy dips and sell when I have big profit margins.

you should do that thing if you got an accurate forecast of the bitcoin price and it would be much better if you're going to sell your bitcoins if it's going to drop and if it's surely happen, since the last three days I didn't see any drop even a bit . anyway you don't need to panic, it's normal that the price will drop a little bit and it will surely go back with a much higher value .

first of all you are making mistake by comparing the volume of stable price time (stable at 916-918) with volume of volatile time (going from 780 to 1166 and back to 800 etc) this is obviously going to be a huge drop in volume when price becomes stable.

also Chinese volume dropped from 5 billion dollar to 1 million dollar that is a huge drop.

but bitfinex went from 6-7 million to 2 million dollar (a perfectly normal drop because of stability)

Come on dude, OP might have already settled his things back after he sold his coins. He said that he thought that he would sell, but nobody knows whether he did or not. If he took action, he must be in some profit currently, profit of gaining some extra coins at lower rates with the opportunity to sell them back higher and if he didn't, it still doesn't make any difference as the price is still high and he will still be making something out of his coins.

i can not see how he or any other person who sold at the time of OP suggestion, can ever make any profit. it was sold on an stable price not a falling one and price never went low enough to buy back, in fact it was nearly in the fee zone with no possibility of buying back.
unless he bough back at higher price (for example at $960) he has missed the train.

   Price is recovering, and its very close to 1000 again. I dont think price will drop, who ever sold when you suggested this lost a good profit, your prediction skills are not so good as you think.
   I dont plan to cash out anytime soon, price is holding on this price very good, and I believe price can increase more in the future. Now its better to hold bitcoins then to cash out, better think again about it.

We have the same feeling op on which this price increase has equivalent on price decrease anytime soon we are just on the situation which people are accumulating  enough bitcoin and when we hit the price of $1k or even more possibility of going back is there thats why im holding still my bitcoin when  price actions to dump then sell oof to secure profits then buyback to its lowest price again.

That's the most surefire way to reduce your bitcoin stack I've seen so far apart from online gambling....  :D

Eh, is for me. Being anything else would be insanity xD

Well, no one has ever gone broke from cashing out early.

I agree with you. There is very minimal impact in reality. I read an article on Coindesk that said many traders are switching to trading stocks because of the removal of the trading fees by the Chinese exchanges. I call it a crock of crap. We all know that the Chinese exchanges create their own fake volume by buying and selling with themselves. With that gone nothing really happened.

for now the price is keeping high, i thought it would drop fast, but i was wrong

Hmm... still time for a drop...

im sure 10,000 btc for 2 pizzas guy  doesnt feel exactly like that today ........lazlo ,are u still here ?

OMG I can only imagine doing that.  That's something you'd regret for several lifetimes.

I noticed that this thread is months old, and OP made a serious mis-timing mistake cashing out in January.  Way too early to do it, but I suppose if he wasn't comfortable holding...taking a profit isn't a bad idea.

Cashing out of btc has historically proven to be a horrific idea... That's  a $26 million dollar pizza at today's prices.... Ouch
I hope he ordered extra bacon and cheese on it....  ;D

A big face palm after the big rise.  ;D

I guess we need a deeper thinking before doing something which is regrettable in just a few months or maybe even just after weeks.
I am sure he will not buy back at this expensive price now. Too hard to make that decision after you have sold a cheaper one.

As of now cashing out bitcoin right now is simply not the right decision. Because the price increase is continuing without much drops happening in between. So it's the right time to hold the bitcoins expecting for a price pumping and sell at a much better price.

Cashing out had happened a few weeks ago. Now is the time to buy and hold bitcoin. Cashing out only happened when their is a big crash and you want to go with it. But I think cashing out works very well with big investors during the dump. Casual investors like us should not dump it in a crash buy rather hold it and wait till it goes up.

Well, as we can see the story of thread creator is a little bit sad, because he posted about cashing out at 24 february, when the price of bitcoins in that time was somewhere about 1200$.
Obviously, if we just compare the current price of bitcoin ( 2,500$ per one ) to the overall history of the price, it makes the whole trade that OP made not so bad.
After all, this very big price movement has started not more than 3 months ago! Bitcoin has increased its price over 100% in like 60 days, so you still cannot tell that 1200$ price level is a bad decision.
It might be actually the same right now, and I think that scenario might happen: because in my opinion, btc will fall to 2000$ for some time just to increase its price later, but if you are going to sell now you will regret not waiting 3 years :)

It is always better to cash out and get your profits, than lose or risk more.

I've seen countless attempts make declarations and second guesses about the price. Most of the time they're miserable failures.

Secure profit where you find it if that's your wish. Don't be sad if you undershoot. Never, ever get all your skin out of the game.

You can't just say that cashing out isn't the right decision for people without knowing what their situation is. Cashing out profits from time to time is recommended as it will allow you to have some fiat aside in case the price happens to drop. People's main target is to increase the number of coins that they have, and buying back at lower levels helps you in achieving that. Important is that you never cash out everything at once. I never cash out more than 15% of my profits at once -- it will allow me to benefit more in case the price rushes up further.

I totally agree. If cashing out for some will get them benefits then it is not bad. Like if you need fiat for some emergencies, you will definitely cash out convert to fiat and used for your own benefits. Even if you want to go to vacation and enjoy and bitcoin is where you gonna pull your budget, then it makes sense for you to cash it out. Don't blame people doing it. For sure they gonna buy back it again for future profits. Rinse and Repeat.

Yes indeed, but oftentimes it coincides with the poster screeching death, followed by a bunch of wiggly lines and TA bollocks. Then they're never heard of again, or become Mr Duck, and become prime necroposting fodder.