Bitcoin Forum

With the recent rise in the price of bitcoin to us dollars to as high as $3305 as at yesterday, the best period to trade your bitcoin is now.

if by "trade" you mean sell because it is a big number in your eyes then no, it is not the best time to sell because bitcoin has just started moving up. and will continue as the BIP141 locks in SegWit and then the follow up rally will be as SegWit activates and we see it in real action. this is actually a long awaited rally.

but if you mean trading in the normal sense then there is nothing different. you could have traded bitcoin (bought and sold and bought back) the same as before and in the future!

The original poster must have been confused a little. It is indeed not the best time to convert Bitcoin to cash as the value is rising and can continue to rise in days ahead though there might be some periodic corrections but holding on to what you have can be the best strategy. In fact, there are now many who returned to Bitcoin after they listened to FUD and converted their Bitcoin to fiat. That was a a big mistake.

However, if the original poster is a good trader then he can make good money whether the market is going up or going down. Volatility can be a friend to someone who knows what he is doing. According to many analysts, there is a big chance for Bitcoin to breach the 4K wall before the year ends...though we have to be careful as not all predictions can come true.

Yes that was the perfect period when you can sell all your bitcoins for a better profit. And I think that was the best call as it was. That was the highest peak in the history. But I think it will go up more. You just need to wait and then you can earn a big profit as time goes by. Think about long term, not short term.

There will be more rise in next few month,if you short on cash,you can sell now,but don't regret it later
I think you should have a bitcoin saving that you hold for few years to make a big profit

This is the best time to sell out our bitcoins and securing the profits we do gain specially when we do bought it on lower price in previous months.If you are a short trader you will surely do such thing for sure and this is what im doing now, securing profits in a certain high price point. I know that this price range would not be permanent and there would really be a time to see those prices would really go back again on those price on 2700-2800.

BTC is still undervalued and will go more than what you can imagine right now. For day to day traders it is the time to sell a part of their wallet and wait for another dump but for long term holders it is nothing yet.

It is just a start. Next stop is $5000

As bitcoin prices increase, the number of bitcoin participants will increase more rapidly, which in turn makes Bitcoin prices continue to increase. Bitcoin continues to benefit many people.

I'm not sure that such a dizzying rise in prices is good. This benefits only the owners of the coins. There are too little opportunities to earn bitcoin to not be interested in its price. Buyers of coins, this price can be daunting.

if price goes up to $5000 it means that these "Buyers of coins" are buying it that price had gone up that much! it doesn't magically get there. :)
for the record I don't think $5000 is possible this year (although I have been wrong before) but I should mention that the fast rise is not unheard of in a market like bitcoin which is growing very fast and with a high rate of adoption. it is still young and there is a large number of people who are just hearing about it and want a piece of it.

and never forget about the 1 in a million (https://bitcointalk.org/index.php?topic=1790863.0) thing with bitcoin.

 I think not at near time the price of bitcoin will go back to 2700 till 2800 dollars because on graph bitcoin price seems strong in 3000+ dollars.

i did not said that current price will stay and permanent, you are absolutely right this thing that current prices still possible to down again to lower than 3000 dollars. but not happen for near future.

demands of bitcoin seems still good to keep the price at current level.

For me I still wait for the Segwit to be lock-in before making any moved to sell it. The price is really attractive but I do believed that we can still make another run at $3500 in coming days because of the Segwit lock-in. But if you do think that the price for you right now its good, then sell it. But most of us are still waiting for the Segwit lock-in because it will bring positive news to the ecosystem making the price rise again. So I'm not pushing the sell button eventhough the price is good now, will wait more time before making my decision short term or long term.

This is a welcome discussion point.  I was about to post a similair post. The cryptospace definitely feels a bit inflated. However we also said that about the S&P 500 40 years ago Do you know this interesting site? https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more.  For example:  https://www.coincheckup.com/coins/Bitcoin#analysis To check  Bitcoin Indepth analysis

I also think that indeed that it's a bit inflated, friend of mine already sold some btc in anticipation of another drop that's coming on.

It's also kind of crazy, I mean in a few weeks my Waves investment made a 100% profit; that can't be sustainable right? I will hold forever and only buy more and never sell, but still I feel that a big drop has to happen once again at some point.

Not only now is not a good time to sell our bitcoins, but also it's a good time to buy some bitcoins. After August 1, we have entered to a new era in bitcoin World and a new price increase has started recently.

Best practice for right now is to sell under 50% of your bitcoin and hold all those fiat to buy back cheap bitcoins after possible correction in next few days. Price have rose more than 20% within 2-3 days which I don't think can keep on going like this without correction.

I have done this and waiting for small correction to buy back again at $3k.

Yeah that's what I'm in doubt about, I mean it can rise even further to 4000 before it falls back. Might be an idea to sell a little bit every day it rises further and then buy back with the sum of all those small amounts. But then I'm trying to actively trade , against my hodling principles :P

Not the perfect time to sell bitcoins now because price is still increasing and hopefully it will cross $4000 soon, so better to hold you coins for a huge profit unless you don't need to sell them.

Some people are holding bitcoins for the long-term, when it goes up even more. Anyway, what would you do if you were to sell all your bitcoins?

Yes, indeed the best time to buy.

it depends on the person who owns it if he/she wants to sell it...
if you really need cash you may now do it...
.
But other are holding it for a long time..
in preparation for the legalization/acceptance of bitcoin worldwide.
and i think by that time bitcoin will have a lot more value...
:D

if holders wait for another month they will get double profit because i can smell $4500 :P

Maybe for the short term traders it would be the best time to sell now since there is a possibility it would bounce back to 2,800+ or more. For the long term traders, it is still early to sell now because more people are joining the bandwagon which would mean a higher demand thus a higher price. We will just hodl and wait.

After all the rumors passed, Bitcoin prices have risen again. That brings benefits to many people, especially Bitcoin investors

If you do not need to hold for long time, this is the best time to sell bitcoin. But when I read the comments here some experts are predicting it has the possibility raise up to higher price end of this year. Decision is totally depend on you with your requirements. And also if you wait from long time until reach to this price, then this is the time for you to sell. No one can make 100% sure what will happen in the future.

The current increase of price is an advantage alright but it gives me an idea of not to sell my bitcoins, not now not ever. That only means to show that bitcoin is still on top of the game and whether whatever is thrown at it, it will still continue to rise. All the better for me to save more bitcoins and not sell them because in time its value will be more also. Think about it.

The advantage that increase in bitcoin price offers based on my point of view is that it shows it reacts to the general feeling of the community and the outcome has been predicted by many which even negate the belief in some quarters that bitcoin is a ponzi scheme or a bublble rising without any reason. Another advantage that I also see is the compensation for those who held strong even in the face of uncertainty during the time of crash where several people have lost their faith.

I have read the first page comments and it made me happy.
Looks like a large percentage of bitcoin users are now in agreement into holding the coins.
It seems like the the increase now made them more faithful into it. I love it.  ;D
This will go well and might rise more if we do this common goal.

I am also very surprised by the rapid increase of bitcoin. But will it continue to increase later? Should I sell bitcoin or keep it?

Well if you already had your desired profit then you can always sell your Bitcoin, that is if you wanted to. I somewhat agree on your proposition that it is the best period to trade bitcoins (though I prefer "good" than "best") since the price is so high but the decision still lies on the user.

On the contrary, I still believe on the power of holding Bitcoin for a long time. Hodlers are always the winner they might say.