Bitcoin Forum

Time for another round of profit taking if we hit 1200$.

Not really, it's impossible to know, and I don't really care. If we go down, that's great news, it just means we have more time to keep aiming for our bitcoin goals. If bitcoin keeps going up, I will never be able to reach the 21 BTC goal.

If it goes to the moon, well it's good, but it sucks cause I want 21.

If ETF passes we will go 10,000+

nope. we are going to see mostly rises until ETF or some days left to ETF then it is time for profit taking, and remember $1200 is not the end and last time i remember $1215.9 as my own high price and if it goes higher than $1200 it will continue going higher since the resistance is smaller too.

I am not finding that bitcoin will make turn around $1200 levels this time as it is marching with the target of $1500 levels. Hopefully by the time of bitcoin etf gets approval, I believe bitcoin prices will reach this remarkable level of $1500. Because there is a strong sentiment among traders like bitcoin will test $2000 levels too.

If $2000 will be possible, I guess we need to forget completely about profit booking for time being as bitcoin will get more investors through media coverage hence the next target of $5k or $10k also easily viable in quick time.

$10k right after ETF approval is unrealistic scenario. The most optimistic forecast I've seen predicted 65% price boost.
Here is detailed analysis: https://bitconnect.co/bitcoin-news/441/bitcoin-price-will-spike-over-65pr-after-winkelvoss-etf-analyst/ (https://bitconnect.co/bitcoin-news/441/bitcoin-price-will-spike-over-65pr-after-winkelvoss-etf-analyst/)

Here is Reddit discussion about that article, people are speuclating that price might go higher than 200%:https://www.reddit.com/r/Bitcoin/comments/5ueggi/bitcoin_price_will_spike_over_65_after_winkelvoss/ (https://www.reddit.com/r/Bitcoin/comments/5ueggi/bitcoin_price_will_spike_over_65_after_winkelvoss/)

I am not ready to believe into any analyst. The actual must be lying within bitcoin and the bitter truth is 'no body will speculate exactly'. If 65% is based on how many number of bitcoins will be used for etf trading then there would be no guarantee that number of bitcoins will not be increased. Definitely more number of bitcoins will be added when etf become more popular.

Also the time frame will be playing a significant role for 65% (from current price) growth and for $10k price levels.

As one of the user quoted ETF is the major concern right now compared to other factors that move the price around. Till ETF approval the price variation will be enormous at the same but unexpected situations too can arise if technology doesn't support the requirements to the needs. So targeting or focusing on a particular price to profit is a 50-50 play.

I don't expect many users sell its bitcoins only because the 1200 dollar level, we are very near to ETF date. If they sold could be because they thing that will not be approved. And the ones that think that it will be approved will hold expecting bigger price.

I also see bitcoin bulls charging for another $100 increase, I may say $1300  before the ETF decision and if it is approved we can see Bulls charging to $1500.  If ETF is disapproved then this bull charge will become bull trap LOL.  And will support OP decision of taking profit at $1200.

Great points, I agree with you. Our goal is to have at least BTC21 in the wallet, because that's the challenge from the first time.
Bitcoin price always rise and fall, traders aiming to get every cent of profit as much as they can. Many people attracted to do the same thing while others don't really want to do so, to keep their own bitcoin save instead of purchase fiat money which not very valuable than bitcoin in the future. Whenever I can afford my expenses without sell any bitcoin, I will continue to save more bitcoin.

It's very optimisms. basically, we must see the US condition. And about $10,000 it is really big decimal just for the SEC approval.  I have thing if the bitcoin will never $1500 after the SEC will be approving bitcoin.
We are speaking about multi-hundred million dollars and not about multi-hundred billion dollars. My guess it will not push the price of bitcoin over $1400.
Although the bad news will be coming on 11 march and get ready for the bull trap.

Bitcoin will either go up a lot or slowly go down after ETF. In any case, if you don't trade at all, hold on tight, sell on the parabolic moves.

it is not called optimism, that is called an illusion.
this approval will be great and will have so many good long term effects on bitcoin but to expect such a ridiculous rise is just not real.

It will hit the 1400$-1500$ price first before bitcoin will make its way down and stop at 750$.  This event will happen in 1 or two days only it means that going down is extremely fast.

I already saw a lot of sites talking about this subject

http://www.etf.com/sections/features-and-news/bitcoin-etfs-dummies

http://www.newsbtc.com/2017/02/26/bitcoin-price-etf-and-more/

http://www.nasdaq.com/article/will-bitcoin-etf-see-the-light-of-day-in-march-cm753035

Hahaha I guess a lot of the people become a mad caused by the bullish trend and new ATH of bitcoin. Yeah, i think it will give long-term effect. I have seen some of the altcoin projects were ignoring the US participant to get into the fundraising or crowdsale. It seems the condition will change after the ETF approval.
US citizen will be allowing to entrance on the crypto environment.

Why would the price climb to 10 K dollars if the ETF is approved .Why are people making these claims.Why don't we stick to reality about the price.The realistic price it could reach is $2500 to $3000 at the max and we still have people calling for $10k . :D How about a good correction in price if the ETF is not approved,do you think it is possible. ;)

$10k is truly far from major expectations. But for sure when ETF will be approved there would be price hike, seemingly $2k is close and realistic.

As of now, it looks like many don't want to sell and looks for higher price or just waiting for the result of ETF.

I don't know if I'll sold after whatever will be the result of ETF.

Well I can agree with OP it might be already time to sold and get profit again since I know that many of us will sell when 1200$ is touched again especially if the new all time high higher than mt. gox ath is reached. Im sure we might go under sub 1000$ again but there is a probability that we might never see those prices again but before buying again let's wait to get more and more profit.

It's because if investors buy the etf enough they will have to start purchasing more bitcoin to cover the shares of the etf.

this aged well  ;D
my initial post as well (but it was about profit taking, not long-term outlook). glad I bought more during the dip.

I hope you will buy more in this dip as well. I haven't seen Bitcoin this oversold since the 2020 covid crash. It's actually funny that markets are reacting with such fear to Putin's provocation. It barely has anything to do with decentralization and cryptocurrencies. If anything happens they are going to become more important to people fleeing the conflict zones and those who will try to get their unstable currencies into something safer that can't be stolen by soldiers or the police. I'd say the government stealing from protesters in Canada and threatening to take their children and pets if they don't comply is insane and if it doesn't make people seek decentralization, nothing will.

To have the opportunity to buy the DIP, DCA under $400, and actually build enough wealth for retirement. I salute you ser. I hope we plebs won’t be plebs for long.


It’s the same during every cycle. FUD Bitcoin under $400,000 during the next cycle? It might be HOPIUM because of the law of diminishing returns, but I’m confident Bitcoin will be valued at least $100,000 per coin. 8)

You are trying to fool people into becoming hopeless which I believe that $1,200 is not possible. But I get your point here, you are testing them on how to become strong and manage to face the crisis. If they will sell their crypto, some investors went happy and you are helping them any way.

Well, I'm also preparing for that moment comes, I have a plan to buy more. Every dip seems like an opportunity to buy, so I just let people make decisions to sell their coins and take advantage of the market.

What crisis do you mean exactly ? You talking about the Russia and Ukraine stuff ? That isn't a crisis yet.

And if you are talking about cryptocurrency bearish situation, that should not be referred to as crisis, it is normal. Except newbies that may not understand it yet and this will also be there experience. The price is not stable, it is a fluctuating asset . We only take advantage of what it present, sell when price is high and buy when price is low.

From another standpoint, the surges and the DIPs are part of Bitcoin’s bull/bear cycles. When someone is looking at the historical price, or a zoomed out Bitcoin chart, he/she merely sees the market and its behavior, not the reason why the surges, or the crashes happened.

If it's true that the bitcoin price cycle is always different every 4 years, most likely the next 4 years the bitcoin price will also pass the $100,000 price because of the difference now with 2014 and 2018.
Even though it takes our patience to wait for the price, but I'm sure the price of bitcoin will shine again after this dark disappears.

very suitable profit taking, but in the future it will probably be much bigger, the resistance is also smaller for the current return of profits, the last one I know is above $1200, if you don't hurry it might get even stronger, because some others will also go up, if you don't hurry market resistance is back on the normal path, not the time now, because in the future it will be much higher, be patient?

long term is always good idea when it comes investing bitcoin, but unfortunately not all investors have enough courage to keep holding because of doubts and etc when it comes crypto investment.

So probably that OP is one of those investors that too good to be true when there's a good profits already. I mean sell high and buy low again in short term only.

There will always be people who are willing to sell for what they feel it is risky to hold, and I am fine with that. If people hold bitcoin forever without ever selling it, they would be losing a ton of money, and we should not be in support of that, the price of bitcoin would never go low if that was the case.

The reality is that we should be happy about these people, if they keep on selling then there is a chance we could buy crypto for cheap, I see this as others loss, and my gain. Let them sell as much as they possibly can, I just wish I could buy bitcoin at under 10k again, I would be so happy if that happened. It would take us back for years and would take years to come back but I have time, or at least I hope I have time (you never know what may happen tomorrow) and that way I could buy cheap and wait for a decade if I have to make insane profits.

Its our money then its our right on when to sell or make out in the market and it is just a matter of decision whether we do get in or not.We do only regret if we do miss out those opportunities
on getting big profits just because we had sold our coins earlier but doesnt mean that it would really be late on buying cheaper prices once again.Also, profit is profit and you shouldnt look
back because it would really just stress you out on minding that you should have earned big if you havent done those mistakes.So better move on and aim for your goal as always.

Hahaha, I like that tweet, why not though? it's obvious isn't it, the pattern is there, $400,000 will be the next cycle's lowest low, so just imagine what will be the the all time high in the future?

$100,000? that's a conservative estimates, I will be putting it at $200,000 a pop and that is the middle ground price for me.

Wait, wait, wait. I mean, everyone has 100k at some point. Even I do. But what exactly are we talking about here or rather, when? My optimist self says 6-digit USD value is only a matter of time, but that first instance should not be earlier than next halving. Even if people start pricing that in early that means next year.

But you just said 400k is next cycle's low. So when exactly are you calling 100k ... Bearing in mind that for you is conservative?

P.S. Will be very happy if you prove right, don't get me wrong ;)

 I am not the person you replied, but my "hopes" for 100k is this year. It all depends on one hyped run or not. If we have that then 100k is not that difficult. Remember all those periods where we moved between 3-4k range to 7-8k range, that happened multiple times. Even if we do not see this the same thing, we could literally just do x2.5 and thats not too much for crypto at all. This is why I do not really see 100k as "impossible". In that case we could have 200k+ in 2023 and during next cycle have 400k. I am not saying that "will" happen, these are all just made up predictions and guesses, definitely doesn't mean I will be right, so do not assume I am backing them up with data or confidence or anything.

Yes I also still remember all the different price increases that occur every year.
And I also see the price difference increases in October every year, almost 2x from the previous year and our hope to touch 100k will definitely happen but next year maybe.
To go back up to the price of only 60k people are very grateful.

I actually remember Feb. 2017 very well and I actually also was looking to sell some Bitcoin if it broke the previous ATH which was like $1100-1200 or so.

Reason why was because everybody was bullish about that Winklevoss ETF and they were 99% sure it was approved and everyone was buying. But I sold some right before the decision knowing that there is a chance it won’t be approved and I’ll go down to like $800 again.

Well it wasn’t approved and Bitcoin did go down but a few weeks later it broke the ATH anyways. And the rest is history.

Whenever the price returns to the highest price, it will not be a problem because it will definitely happen in the future. And if it does get back to $60k this year, that's a boon for us, especially if it can go as high as $100k. So if you really expect to sell bitcoin at $100k or above $100k, you should hold bitcoin more strongly and not be affected by anything, including if the price drops drastically. You are allowed to buy more bitcoins if the price drops drastically. But it is not easy for bitcoin to go back to $60k while the price is up and down many times.

Imagine almost 5 years before the effect taken into place, congratulations for your successful investment mate specially when buying at the dip.
now I'm sure you are ready to take it out as it took you how many years before tasting your progress.
this prove only one thing that our coin will surely hit the up though sometime took more years than we expected.
so this may serve as lesson to many about how we need to Keep HOLDING for us to make big outcome .

Congrats! You made it.

Just like anyone else that has missed the 2017 ride and then goes through the 2018 bear. This was just another chance that has passed for the others.

What's next within the next 2-4 years? Maybe we'll get to see the same stories of those that have bought the dip and we'll be back again in here for being grateful for buying the dip.

The decline is a great opportunity for us to buy, but what we really need is patience in holding, because there is no point in buying a lot but if he does not dare to hold for a long time, now I hope we will soon see a new era that is more good with a market that can continue to be in a bullish trend.

Not everyone knows how to take advantage of the declining price. There could be some that is still patiently waiting till the price goes on a down ward spiral before they buy. It's really up to us on how and when to buy. Again, we've seen a decrease in price today, to $41k and yet investors are not buying because they want < $40k in my opinion. But the question is, can we go down below that price range again or we will have a good bounce again to $45k?

because some of them had limited funds to start with so they tend to invest short term and cannot afford to wait for long.
but if given a chance? then surely they will take it for long as i believe like me as capable to take the chance? i am holding long term of my coins .

As always, everyone will tell you to buy the dip.

That is because that's always been the best price to buy and it's during when the price of bitcoin is low.

When you hold and you have extra money to buy, you choose the both things and there's no one gonna limit you on what you must do.

Not really. I think if you went out there and you did a full census, without seeing the tailored social media content you and I do, it might surprise you to see a lot more fear than optimism. See, we both probably like Bitcoin and want to get more of it, so we're shown other people and opinions that make us feel warm and fuzzy. So we think: oh wow, everyone's telling us to buy the dip.

Besides, if everyone really were telling me to buy the dip, I'd be real, real worried. It's never looked good for sheep in this world, apparently.

You never need to worry about buying at dips when you are confident about the fundamentals of bitcoin. These days people are like you because after watching two cycles of bitcoin, they are believing that catching at the bottom of each cycle is easier but market is always known for surprising us which means you may not be able to catch exact bottom all the time and when you are about to be missing out the bottom of one cycle then buying regularly on available dips is highly recommended to ensure you are not missing out good buying opportunities.

Patience always pays and it is the key to success in the financial markets. If you can hold and survive the bear market, it is likely that you have gone through the hardest time and now big profit awaits you. But again, you need to be strong and not sell in the bear market.

This is true and applies mostly if your investing but for traders, they can work their way earning a profit even in a short period of time and they can still be successful with this if they accumulate the profit that they always wanted. I think only less people have survived the early bears because it was still new to them.

If those people have continued their crypto career, most of them are now experts and can now handle any types of bear. For those that have recently entered the crypto scene, surviving a bear can still be hard for them but they can always improved . Nothing is impossible for for a person that is willing to earn huge.

Actually, my point was that if fundamentals were what made you confident, then you're buying no matter what or DCA-ing as a habit. Timing to only buy the dips, or getting an entire chorus of Crypto Twitter chime in on buying the dip suggests sentiment or swing trading, which doesn't need any belief in fundamentals. And as I might have mentioned before on forum, I'm happiest when almost everyone else is not. Things just never look bright short term when every influencer is projecting ridiculous rallies and ATHs.

I think experience trader must be hold. Actually buy or sell all depends on you,whatever you want. I think anytime you can buy and sell. But when price will be drop then you don’t need be panic because bitcoin price will be increase in futire. Bitcoin is a most valuable coin in crypto market.I hope bitcoin price will be recover soon.

I don't think that your experience got anything do about what you are going to do with your bitcoins. Because, even you are not experienced, you will be preferring to hold bitcoin when you are believing into the future of bitcoin. Obviously you are free to do anything to do with your bitcoins; it can be buying or selling or holding but active traders do buy when bitcoin market seems bullish and they may sell when market turns bearish but true believers of bitcoin will keep buying and holding they never bother about the trend of bitcoin market.

You may ask, what is the point of holding without encashing. The answer is, it is like trying to maximize the benefits we could enjoy out of bitcoin investment. It does not mean that you should not sell your bitcoins at emergency situations but just for the reason of buying pizza, do not sell your bitcoins or just for the reason of bitcoin reached $100k, do not sell your bitcoins.

That must be a convincing point to me as well because people who rushed to encash their bitcoin investments, deeply regretted later on. When you are confident about the future of bitcoin investments then you never need to get ready to sell off. In recent times as per this community, many people started showing interest on swing trading like selling around ATH and then buying back at bottoms.

But, predicting market directions and trends are not that easier one which is the reason why people do always suggest about long term holding for better returns.

The last year's trend must be one good example for this scenario. We all expected bitcoin to have another 10x rise but bitcoin market showed only 3x from 2017's ATH. So, selling off for any reason like swing trading or anything similar to that is highly NOT recommended as it may lead to regrets in most cases.

surely it will  increase more because those country is now really trying to bypass sanction using bitcoin, so expect there will be an impact soon even the war still not happening.

However, i would like to say that better luck next time to those people that have negative views when it comes bitcoin because of that conflict, wherein without knowing that only bitcoin can save them despite of situation. :D

 That is the thing about bitcoin, you can look at it from any direction you want, and you would be right for your own perspective. If you want to see the Ukraine side where the whole globe got together and helped them, allowing them to get a lot more needed things, save lives, medicine, even guns if they have to protect themselves, or basically food and shelter and safe passage. You can check that part and and think that crypto is an amazing thing. Or you could see that governments are putting sanctions on Russia, and Russians are going over those same sanctions by using crypto, meaning anyone who is not allowed, could just use crypto, os it could be used badly in bad peoples hands as well by the same logic. You can see that, and think that crypto is a bad thing.

 It is whatever you make it to be, nothing more, nothing less.

Holding is not a problem for successful investors, they are already a pro on this but if there is one that must dare to hold that would be the beginners and the novice cryptos users. They are new here and they cannot control their emotions properly but they can get distracted easily by what is happening around them and they think it can affect cryptos.

In which country are you living? You are more eager to use bitcoin during the war than those people that are from affected countries. You're making us proud keep it up mate even if there will be no wars but please don't hope that war won't end just because you think this war can push the price 100k, lives are still more important.

I agree that we need to go for long term holding if we are concerned about not taking any big headache like active traders and in order to ensure about the maximum benefit out of bitcoin investment. Yeah, talks about swing trading is too popular these days in this forum and honestly I also planned to sell and buy back and as bitcoin did not cross $100k levels, I stopped my plans and simply continuing my holding.

Even we are the true adopters of bitcoins by opting for long term holding, I guess with the help of some active trading, trying to maximize the number of bitcoins that we are holding is not a big deal but limited to our skills and risk management.

People could sell their coins anytime they want, I would not be bothered by it. I have always had the same type of understanding of the market and I will always have the same one in the future. The only problem would be some top 10 coins not being top 10 in the future like previously, but it would impact like 30% of my portfolio and that's it. That is a bad hit to take and I wish to not take it, but if I have to then I will, nothing else I could do.

However, there is a fact that if people keep on selling more and more, that will usually end up with me getting more profit and I am not bothered by it. I mean getting it at the bottom is the first rule of getting richer.