Bitcoin Forum

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

Taking profit is never a mistake.

Smart move. We're clearly in a strong downward trend and with Ethereum taking over Bitcoin we are sure to see a strong crash soon.
I've been warning people for years that we had to fix Bitcoin before it was too late. Nothing has been fixed and surprise, look what happened, bitcoin is being overrun by superior technologies.

The bitcoin religious will soon feel the pain of ignoring critical flaws that should have been fixed years ago in order to make time and space for hype and greed for fiat. The scheme is collapsing!

no one ever got sad realising a 25x gain. who cares what it gets up to? good move.

I think you have done the right thing. Nobody ever got poor from taking profits!

P.S. Congrats at buying at sub $100 - you've made a splendid return on your money!

Profit is profit no matter how much the price of bitcoin will increase for the upcoming months or years to come, it will always be a good move.

And since you have only sold 10% just like me I sold at $2,600 I'm not regretting that I did.

As we believe that the price will soon increase after this correction, someone here knows if we are now on wave 3?

Brother,  that was a smart move.  I get that the hardcore contingent would tell you never to sell, but you can't go wrong taking a profit.   It's a damn good idea once in a while and I'm pretty sure most traders would tell you the same.  Buy a car, buy some beer.   Use your winnings.  That's what they're there for,  right?

There's no wrong choice, take other people's advice and mix it with your own to create something better. I personally prefer to hold as long as possible but i also spend sometimes. Feels good to know your profit is real and tangible. Just make sure you buy something you will be happy with even if the price rises to 5000 per coin or beyond and you will be fine.

10% seems sound. I wish I did what you did when I was a few months newer to Bitcoin. The strategy is so simple, but in alludes most newbies like me. 

Hodling and selling at computed intervals is the safest course of action, since you are going in between the extremes of a downward trend and an upward trend. You won't suffer so much in case of a long term downtrend since you have sold certain amounts, though you won't maximizie your profits in case it were a clear long term uptrend. So it's clearly a median route to take per se.

Swapping out some possible risk in favor for probably smaller but sure profits is never a "wrong" thing to do.

it was a good decision and i have been doing the same all along. you sell some after a big rise and then transfer the profit out to your bank or something and then invest the principle back in again in a dip.

these two statements contradict each other! and both of them are wrong.

first the rise to $5000-$10000 in only a few days is simple impossible. bitcoin is not a small shitcoin with $100 volume to be pumped like that.

also about the drop down to $1500 i have to say you have to way of being sure about it. you are simply making a guess and saying you are sure. there is nothing indicating it may or may not happen. there are some possibilities but the chances of all of them are very low at this point. this may or may not change in the future. that is all we can say.

Definitely this.  Enjoy your money.  You're up 25 times the amount you bought so riding the rest for more profits plus getting some money out is always a great feeling.  Like the say in the gambling world, 'Money won is twice as sweet as money earned'.

Now go buy your wife or girlfriend something nice.  ;)

You are telling that is true but i dont think that for this problem any other coin will take over bitcoin because once the problem is solved then you will see that how this other altcoins are going down like a blood bath and same time bitcoin value will also increase very soon.

OP- Profit booking is always good because no one can buy in bottom and sell in upward, so when ever you are felling to sell just go for it dont see the price.

You really have some balls to hold from $100 straight to $2500 right now.

That's a lot of tough market conditions that you have ridden through, and i commend you for having so much trust in bitcoin to actually hold for this long. Even myself haven't got the patience nor the courage to do this.

I think that your decision was a smart one. I don't think that we have seen the peak of this though, although the correction came and everyone started panicking. Wouldn't be surprised if price recovered to $3000+. Selling 10% sort of gets you the opportunity to sell more if bitcoin was to go up again.

I do think that BTC prices are probably going to drop drastically after this bubble does pop, but that would present a very interesting investment opportunity that most people probably don't wanna miss.

Kwack kwack Kwack... the same old song from the biggest scammer. Now that we know you are invested in Ethereum, it makes a lot more sense. You were bad mouthing Bitcoin to promote Ethereum and Ethereum is the biggest scam of all time. Bitcoin had no pre-mine or pre-token sale like Ethereum. Satoshi did not pay anyone from the sale of the pre-mined tokens to develop his platform. Bitcoin is not centrally-controlled by a foundation that got rich from the proceeds of these pre-token sales. It is estimated that Vitalik got the Lion share of these pre-mined coins.

WARNING - Users like kwukduck, use this forum to spread FUD about Bitcoin and promotes scams like Ethereum. ^grrrrrrr^

Nothing wrong, because with the selling you've made a very big profit as the price difference between the buying price and the selling price is very high. Also your thought too seems realistic, because everything happening is not certain. If the price drops can buy more, else can hold or sell at a higher price.

Taking some profits isn't bad. 10% of a certain BTC stash can be quite some money.
In terms of the price and when the bubble pops, by the way you must be speaking about altcoin bubble as Bitcoin is not in a bubble yet, nobody knows the time it will happen. Markets can stay irrational for a very long time.

Putting the profit first is the best thing to do when you are a investor. It doesn't matter what happen after what you've done, what matters is that you get a profit from your patience and hard work. I did sold some of my coins because of my needs, I think if I don't really need it I will not buy it, I will continue to hold my coins as long as I am contented to ny profit.

when the user kwukduck comes here and agrees with you that should be a warning to you that you must be doing something wrong because the quacker wanker is known to always be against the market movement direction.

but as others have said it was a good idea to take some profit out. i think all the good investors have done it. you should never go all-in in both investing and also getting out.

It is a good decision that you sold only 10% of your stash. If you would sell 100% that would be a bad move.
As you said there is a very high chance that we will see $10000 in the future, but I don't expect that happen in the few next days.
I am sure that after next halving price of Bitcoin will be around $15000-$2000 - of course if nothing crazy would happen in the meantime, for example scaling upgrade fail.

Yes I agree with you, the decision he took was very good. only sold 10% of his stash because he was not sure of bubbles he might think that the price of bitcoin is now quite high and I'm pretty sure there are many who agree with me. But 10% is very little to invest why he does not sold 30-40% of his stash because if the bubble really comes he will get a good profits and if the dump comes he can cover by selling the remaining of his stash.

gotta say you sound a little bit fundamentalist...and blinkered

Smart decision, and respect that you have been holding your sub $100 coins till where the price stands right now.

Typo, right? It should be in the next few years, I assume.

Not entirely impossible as no one knows how things will be before/on/just after 1st of August. One thing is almost certain, and that's that it will be an exciting time for traders. If the price happens to tank real hard, then the best option is to increase your stash by buying at discount levels.

Nothing wrong with it.

I agree with this except that I don't think there is any way we will see $5,000-$10,000 in the next few days. Maybe $5,000 in a few weeks or a month, but not a few days. You are right though, bitcoin will be down around $1200-$1500 soon enough. It is very overvalued right now.

Its a wise decision on your end. 10% of your stash should make you a lot of profit and there is should be no regrets. But I disagree that we will see $5000-$10000 in the next few days, maybe at the end of the year or early 2018 when everything went on our way. The price didn't went to sub $1500, and it has recovered to $2500 now. But you cashing out very good decision. So we still don't know what the future holds, but at least you still have some bitcoin in your wallet (store of value).

I've been holding since sub 100$ myself and have been taking some profits along the way which of course is the smart move. That said I'll still regret it when we blast past 10.000 $ etc.

It is his bitcoin let him take the risk in what he has done, but I am very doubting right now, especially after hearing that there is a risk in the impending Split, well for a change and for the first time I think the Duck just got a point, and for once maybe it will really crash down, it can surely happens but we don't really know what will be the exact thing to happen, but I think I would take my profits out of bitcoin just to be safe, sorry but just this once I am taking the Ducks kwaking but if the impending risk will be good for the future of bitcoin well I would certainly invest again.

10% is just a small percentage. I am sure you won't miss it if the price soars to tens of thousands. It opens an opportunity to invest on other things too. I think that is a good move.

Oh i envy you. I envy your courage to this.
You've made a good profit out of your $100 and thats a smart move.
And the $5000 to $10000 per btc is insanely huge for few days. We need a miracle to that.
Maybe you're trying to say for the next few years? Well i think thats a realistic thought.

It's a good decision and doesn't hurt you if you decided to take profits, the risk is that you could be like the people who sold at 1k previous all time high of 2013 and never saw the upside of the 2500+ Rally that happened to now which so far peaked at 3K. So if you want to reenter there is always the risk it is for more than it was when you exited. Other than that 10% is conservative and if you can use it then may as well abuse it hehe aka just have some fun with your earnings since it means they worked out. The whole point of investing is to earn money for brighter days ^^ enjoy your heyday.

That is good decision by you since your just securing your profit and we can't blame you for that since bitcoins movement quitely undefined right now And good thing you have still huge balance left since the upper thrend of bitcoins is not finish yet and provably we can see those Big prices coming up when god's grace will let those one happen. Hope we can see those huge price coming up on future.

Congrats on your profit! In trading what is important is you know when to sell your coin and you see to it that you gain profit and happy with it.

So now i'll ask you are you happy with your decision?

^^  THIS

Mixed feelings :P

Not sure why someone would sell just days before a new country of 30+ million population opens its doors to Bitcoin.

Developers are still doing their job and only miners can give a decision if they want to activate segwit but few months ago remember it was rejected but right now i heard that 80% of miners are agree about segwit..
So i think we will see a big changes in bitcoin after activate it. Developers are still doing their job that i think issue can be fix..
Ethereum was increase due to promotion and help by other ICO that is why the value increase this is just base what i seen..

sold too soon imho, should have waited until 3k+

youll probably regret it later  :'(

It was a safe and a nice decision to make, as if it will go down you already sell some so no need to worry and if it goes up even more you still have the 90% which will make your profit higher either way its almost a win win situation but the other win is better than the other one. Keeping the 90% is a good move though because with bitcoin there is always a room for having a higher value.

Wrong move my friend,price will never reached the low price which is 1500$ again., im seeing bitcoin price will hit 5000$ before the end of this year. I will never ever sold my bitcoin this 2017.

Damn OP says that he bought when price was $100, in other words 25X profit which I'm having a hard time to believe someone being rich considering if he at least bought 1000 or maybe less, any time you sell you are giving away coins from only 21M total coins so you are losing.
And it's not a movie to jump from $2500 to $5000 or $10,000 in a few days. even though price is heading that way but not so fast.

I don't think it's a bad idea to sell some at these high prices especially if you bought at such a low price. You have locked in some good profits even if the price doesn't drop.

I would expect a price drop and I could see it go as low as $1500 or lower if there was some sort of bad news. You will probably have a chance to buy back some of what you sold.

What's wrong with that? He bought the coins when it still at $100ish so now can you still say it's a wrong move, he earned a lot with multiple times from that. And it's a smart move IMO, 10% of his stash is not bad to sell when you know you'll get profit.
And I don't think if how many people are still holding their balls from buying from the range of $100-$200 long ago and still waiting when BTC reach 3k or even more.

Well as long Im not seeing a huge news about btc, and there's no way to fall the price to $1500. Thats too low for our rate today.
And we can never tell what will happen to august 01 but many anticipates it. Hope thats a good news.

In my view, those only 10% is the big justification for selling at current trends. Selling some portion of bitcoins time to time to cover our life's demand is inevitable for any investor. Hence I too do not call this as a wrong decisions. Probably if he has sold more than 50% of his stash then that might be sounding as a wrong decisions. Even though when considering his buying prices, selling now must not be wrong for any percentage of his stash. Practically no one will be afford to hold to enjoy all the price movements of bitcoins as our life time and life's requirements are not allowing to wait.

We are the same, but I think this fork or network splitting is not that big problem that the Bitcoin Unlimited. That time more users and investors are dumping their coins even a month before that hard fork, they are being scared on what will happen to their coins, some send their stash to offline wallets. This network split I think will surely happen, but we don't know what will happen next.

Bitcoin is surging again and all other alts are collapsing.

I would say still it's a bad idea becuase if you completely aware of bitcoin price movement from the starting time to now and adoption on block chain technology you will never do that now. If you wait till next halving sure bitcoin will on moon.

Thats really a smart move as you have just sold 10% and not all of your stock.Selling at regular intervals and making profits is not a wrong move.You could rebuy those 10% of bitcoins when bitcoin price falls.

I think your decision is a good move but you should have sold more of your stash maybe 20% for a much more profit, either way 10% is enough if you just want to return your investment capital. In fact you have already gained more than what you invested because if you invested 1000$ at sub 100$, and you sold the 10% that would be 100 dollars by the time you bought it, you would get 2500$ now which is more than your capital. Good luck to your future decisions OP, if you will rebuy I guess just use 50% of what you got by selling to have your capital back with a little profit.

I'm really fascinated by the people who managed to keep their coins for so long

Thus if you really had bought them at prices below 100 dollars, then you should have booked really nice profits provided you didn't buy dust (though this is unlikely given the price). Profits are telling more than words ("when money talks, bullshit walks"), and many people should in fact envy you. I don't know if you really want to hear anyone's opinion on this, but 10% is not a big deal anyway. I would have certainly sold more (if not all at these prices) and put a fraction of the proceeds into Litecoin

This is my advice for everyone in any investment be it in stocks or in crypto. OP cashed out only 10% and is safe with that money whether it moons or crashes.

Selling only a partial amount of your holdings for profits is really a good idea instead of selling the whole volume and then regretting when price increases.I have seen many people selling whole of their stocks either when price gets down or increases and then feeling that they could have partially sold.

Sell your next 10% when it hits $15,000, or maybe $30,000. You'd be doing fine.

Yes. Its a really good strategy IMHO. I just read it from this forum that some old timers or more experienced on investments are doing this. So I already remembered this strategy. Although I don't have that much stash of bitcoin in my wallet, but I will apply this plan of action once I decided to sell.

Indeed a smart move. Selling some part of it is a must. Others sold all their coins just to make a big profit but didn't turn out to what they think. Not being greedy with the outcome but sometimes we better think as many as we could when trading and investing. So congratulations to you mate for your sure thing move.

it's not that hard to hold, i'm also holding since 4 years already, basically from when i joined this forum i never dumped if not forced, i use bitcoin like a currency and keep the big amount on cold storage

when the time come the famous meme, tell you also that there will be no reason to sell anyway, bitcoin is a currency use it like fiat, i use it all the time to buy food or other stuff on purse.io with a nice discount

That's nice to know. I have been planning to hold my funds from the beginning, but in between something happens to make me convert it to fiat and use on regular needs. After a long now when I look back what's there in the wallet simply an amount lesser than a single bitcoin. Hope I too make a better holding as above mate to more than 4 years time, because I always trust in the growth of bitcoin and digital currency.

Many people have been doing this for a long time already. The dedication should be aimed at a constant increase in investment. That is, we must increase the number of our coins in the wallet. And when the price of bitcoin grows, we get a big profit. And when it falls - we have a good chance to buy even more coins

Not really. It's obviously something people won't say no to, but most people here are looking for ways to increase the number of their coins by investing, trading, gambling, etc, and that is exactly where they go wrong. It's pointless to force yourself to increase the number of coins that you have if you don't want to buy them, or have a decent level of market understanding that you can put to work with trading for example.

Indeed, as long as you don't sell all of your bitcoin at once, 10% of your savings is a decent amount to get cash in order to buy back if bitcoin price decline. Many people do it everyday, and they call it trading but some people don't want to take the risk to loss, and prefer to save bitcoin for long term but sometimes sell small portion from the wallet. In that way, we could increase the amount of bitcoin as the dip always occurred after high peak.

I would say your decision is like asking for a miracle or should we say a disaster? The prices might go down due to panic on August 1st but I don't think it would go as low as $1,500 anymore. The price is high right now because of the recent good news for bitcoins all over the world. It is being adopted by a lot of countries and there are a lot too that recognize its potential. Take Japan for example, they passed a law that implemented bitcoins as a currency in their country.

Going by your logic, there will never be a right time to sell. There will always be gains to look forward to in future. So do you expect people to hodl for life and take their coins to the graveyard or what?

Redeeming 10% for life's expenses at 26x profit is definitely a good move. Well done OP.

When it comes to selling Bitcoin, there is no way to tell when the price is going to drop or rise, unless you constantly check the news for every little story. Even then it will be quite hard to gauge what is going to happen to the Bitcoin price. I'm glad to see that there are still people out there with the balls to sell when they want and not care about what others say. I know I could never sell my Bitcoin because I would be too scared of the thought that the price my rise again the next day and I would lose money.

It is also great to see that you didn't sell your whole stash of Bitcoin, which would what and idiot would do. It is also great to see that you are happy with the decision you make and are glad to move on even if things don't go your way.

In my country, very few people know about bitcoin, it is not common yet because people here are quite resistant to accept a new change in any line of the life and when it comes to money so then you know we can come across many type of people some are extreme misers and creepy that they will not even let you do anything other than the conventional cycle. Anyway all these things will change with the passage of time and I hope someday I will pay bitcoin for paying my bills and stuff.

It is not just your country. People everywhere are conservative, especially when money matters are involved. Fortunately, government policies all over the world will make people realize that an alternative is needed. Bitcoin will then explode.