Bitcoin Forum

Nice rise here and careful now the bubble will pop nice and quick as well.

Take profits while you can or HODL?

Most likely this is a bit of a bubble. At some point, we will probably have a drop in price but there's no way to know how far the drop will be unfortunately.

This is not a bubble... yet.  A 40% rise over the course of a month is significant, but certainly not bubble territory.

Now as for the altcoins, THAT is a different story.  Watch out there...

What bubble? Shitcoin bubble? Yeah I would agree on that. That's why you never should hodl shitcoins!
Bitcoin however hasn't even started to get into bubble territory.Although the actual rise is pretty steep. But we're going to hit the upper trendline of a channel, Bitcoin is in for quite some while now.

there will be a price drop for sure, this won't last up at high prices forever. you can't just rise without expecting a correction sooner or later.

but i wouldn't start calling it a "bubble" either we are far from a bubble, if it continues going up for a couple more weeks then maybe we can start calling it as such.

Look at the long term chart. Bitcoin is basically a repeating cup and handle pattern, that just broke out of it's last one. Historic data suggests that two things need to happen for it enter a new bubble:

1) Break the old ATH, which we did.
2) Break the strong logarithmic rise that makes up the second half of the cup.

$1800 today is where #2 lies. Indicators are strong for a new bubble to begin. Technically it looks its heading there, and the alt market is severely inflated too. A dump of bubbled alts could send BTC soaring beyond $1800, or good news regarding BTC scaling could too... And if the ETF somehow passes this time around, we're definitely going into a new bubble.

I never agreed with the term bubble because people will not buy bitcoins without believing in to its future you cannot convince thousands of traders with a fake reasons. Bitcoin getting into this much higher levels only because of some reasons and of course it would be its potentials.

I do see bitcoin will be reaching price levels like $10k in coming years and there will be no chances for any downfall at this stages. Even if it will happen, we can see price will be bouncing back very soon. Holding will be the right option imho.

Im sure you can probably sell some coins, make a profit and buy back when price drops after the hype dies down,
but for a long-term strategy you should definitely be holding some Bitcoin. We are still near the start and price could be much higher in five to ten years from now.

You've got to be kidding.   If a 40% rise in a few weeks isn't a bubble,  then I don't know how to define the word.   I'm definitely expecting a pullback,  but I'm trying to just hold.  I don't own much bitcoin anyway,  so a drop isn't going to wipe me out.  It's more fun being swept up in a bull market.  Love it!

Most people in the bitcoin community already knows that.

Take profits or continously HODL will depends on the current price movement. No way they can just act today while the price is still on surge. In the times like this, as usual, we just have to monitor price closely even while you are sleeping lol. Because you never know what will happen once you wake up, either more price increase or a price crash.

The bubble is going bigger day by day and it will reach the saturation point one day.On the other hand my analysis that there will be a huge drop in the price of bitcoins and god knows how much,well even if it falls it should not go below 1000$.

No way to know for certain but traders will have bids in at the first two Fibonacci retrace levels. That means the sexy buy zone ATM is $1057 to $1270. Just redraw the chart for a new ATH.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/screenshot-bitcoinwisdom.com-2017-05-04-14-09-29.png

Where's the bubble?

A bubble means a heavily growth in bitcoin. If we are to start at $1,200 then with the price today, it's not a 100% increase. A bubble is not like that. We are sitting in high price today but that is still a small portion of the expected bubble. What bubble Im talking of? At least 100% increase from the start of the sudden price increase.

Here are the Fibonacci extensions based on Bitstamp data.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/fibextensions.png

We are not far from the first extension level of $1800. At that point you could well expect a 23% to 38% correction before heading up to the next extension at $2800. If price goes parabolic $3800 is not out of the question. Though not on the chart the next extension past $3808 is $4433. Historically the first and second Fibonacci extensions tend to be pretty accurate, the higher extensions less so. You might want to take some profits at around $1800 with the objective of buying back in lower after a correction.

From my cold wallets I won't cash out even 1 satoshi. I fully understand that the price may come down, and it probably will due to rushes not being sustainable for a longer period of time.

That's why I have a stash of trading coins that will allow me to optimally benefit from these circumstances. My guess is that we'll see a top of $1700 on non inflated exchanges, and then a drop to possibly $1300-$1400.

Either way, I am prepared for basically everything.

The price going up is the result of japan legalizing bitcoin and institutional investors coming in. I do not think it can be considered a bubble and it will not pop easily. As normal, there will be some correction period when the bull run is exhausted and the price may drop.  

HODL what you own. Buy more if we crash. Simple.

Take some profits. (Rule of thumb, extract an amount equal to what you bought with, and that way you are in the black).

Totally agree.

But this is NOT a bubble , is the normal up after a period with the problem of the hard fork , bitcoin price still is too cheap , we will see in 5000$ and we will say bubble , in 10000$ and BUBBLE , stay and enjoy ! 8)

Dont do this. hodl has always been the best strategy. nobody who has used this strategy has ever lost. My cold wallet will also be untouched, doest't matter if the price is 1000 or 5000. $ and € will die at the end.

http://imagizer.imageshack.us/a/img921/4813/UNxjs0.jpg

and take profit in 2020 ... instead.

We're still at the start of this one, if you compare it to the 2013 bubble.

http://www.gratisbitco.in/we-are-here2.jpg

Pretty much my plan, I think. We don't want to regret selling everything now & then see $10,000 bitcoin's in 4-5 years.

I agree with you.
Buy zone will be within 1200 zone.
There will be massive support there.

Anyway, this rocket can go and will go further away but eventually fuel will finish.

It shed a bit just now. Take your profits before we visit sub $1200 again soon.

It was sick decision for me to sell almost the whole bitcoin i hold yesterday.
Since i think it is enough , the price will go down for a while before heading $10,000 or higher in the future.
Wasn't an easy decision. Just left a couple of bitcoin as future plan investment.

I too see it retracing back to the 1200 range...

Altcoin market is crazy right now, basically every major coin is being pumped. That never happened before. It was alwys either BTC or altcoins, never both.
There is a possibility of reverse trend at some point: traders will sell BTC to purchase LTC or other altcoin because overwhelming good altcoin news.
ETF will be declined over and over again, nothing will change and only miracle will cause BTC to update its protocol.

I too feel that this is a bubble. But I am going to hold.
I have the patience to ride out the next burst and make money in the long term. I would rather not book profits by trying to predict when this bubble will burst.

The ETH and DASH bubble?

yes it will :)
















 8)
yes

With patience holding bitcoin gives an​ assured profit. The bubble will pop big as the price increase has been good to give better profit. Prediction market is always a difficult thing, but one who has the ability to make a closer prediction can earn the same profit same as that's been earned holding long.

You know the funny part in all of this recent price pumps of all cryptocurrencies? while ICN somehow managed to hold their stance but every other altcoins are being pumped at the same time just shows how connected they all are to each other, tell me how many people hold 90% of all the coins/tokens other than Bitcoin?
They have finally revealed their true faces in the most obvious way possible.
It doesn't make any logical and economical sense for a supporting community to suddenly start pumping every crypto out there.
I bet there are only a few selected groups of maybe 50 people all engaging and manipulating markets?

Oh shit bro, ask bob about it  :D