Bitcoin Forum

It’s been on my mind a bit, do you think that we will see a dip during the holidays from people cashing out? With Bitcoin nearing 10,000$ I am just curious as to whether it’s got a chance to hold it’s value or if it’s a given that people will start cashing out soon.

It will either fail to cross $10000 and we will get a dip for a next attempt, probably next year, or we will cross $10000 and then go straight to $11,000-$13,000 or something along the lines. Since it such a strong psychological barrier, if it gets crossed then the confidence is reestablished, forming a feedback loop in the bull market, to the point that $10,000 could become the new floor rather soon.

I think it would be better to correct before crossing $10,000, but the bull market is so strong that I think we are just going to the moon.

Before the bitcoin will touch $10k soon and i think that we will not see any dip in the bitcoin. Those people are gaining momentum on the bitcoin to pump and pump the price of bitcoin. People will start to cash out soon. as the euphoria of the bitcoin will be ended. But just the matter of time and it will be happening in this week.

Opportunities to exchange bitcoin into local currency is very possible. I'm sure a lot of bitcoin users who need money and make an exchange to local currency is the best option available today. It's like a need and can not be avoided of course. The same thing I will do when I need money. One of them is vacation, especially now is the end of the year and this is the right time to get a nice holiday. Bitcoin has given us income and we deserve to get the best.

I very much doubt bitcoin will still be around during the holidays.
Operation Dragonslayer will take care of that soon.

As per the current sudden increase it absolutely doesn't seems to me that bitcoin could dip its just increasing and increasing. But yes we have seen this a few times bitcoin dips during holidays. However last year's Christmas showed somewhat a different reaction and bitcoin increased whilst it was Christmas. You can't really predict crypto markets anymore.

That. I just in case took profits at the moment Bitstamp has broken through the $9500 level, because I rather have a decent bunch of fiat aside that I can put into action in case the market doesn't break the $10,000 level and corrects. If the market is going up further, which may also happen, I have enough coins aside that I can sell at higher levels. That's the benefit of cashing out smaller fractions per time.

People have been waiting for a correction to happen for quite a while now, and it still has to come. I have never experienced this market in current strong bullish sentiment. Most of the things from the past don't apply anymore since we're dealing with various freshly contributing aspects. Happy holding people!

Same here but to think about bonuses in works makes me doubtful the same time.. It can be a two way predictions as bitcoin always an interesting and orthodox way of investing.. We can’t used expectations on this one because it can go the opposite and mostly might sell or buy as they have extra money to invest.. Then as I’ve observed,, holidays make no difference but just my own and hope to find survey or study about cryptocurrency movements on that days..

Good question. I've been thinking of cashing out some of my bitcoin nearing Christmas season to enjoy and buy gifts for my love ones and probably go out on a family vacation. But I'm still undecided and I have to see where the price could go, if it goes above $10000, I might sell some, but if it didn't get to 5 digits then I will just hodl.

I still other sources though, if I decided to push with our family vacation plans, but at the back of my mind, it wouldn't hurt if I take some profit from holding it for almost a year now.

Let's see, how everything goes though. But I remember last year, there was no cashing out if I'm not mistaken. But its a different situation now, bitcoin has been knocking at $10000, another mental barrier for most traders to overcome.

I do not think it is likely bitcoin price keeps increasing and people are very optimistic about the growth and with all the news there is even more money coming into bitcoin and the fact that we are getting close to the end of the year I only see one direction the price can go and that is up.

there are always dips; they're getting more and more difficult to predict because of the parabolic trend. i've noticed a lot of traders saying they have taken profit in the $9000s, or plan to sell $10,000. as a contrarian trader, my thinking is that this probably means we are going to blow past $10,000. the biggest question for me is what structure the chart takes here. if we continue with this sideways/grinding top in the $10,000 area, that could set up ripe conditions for alts to rally while bitcoin goes sideways.

after a few days of that, bitcoin should be primed to push into the $12,000s. i'm approaching this like 2013. back then, $1000 was nothing. but then we topped in the $1200s....

There was an alternative view on Bloomberg. During holidays, students go home and boast about the gains that they have made. Uncle and aunt think that it is easy money - then put some dollars into it. Price keeps rising.

Ideally, we would see more people using bitcoin to actually purchase things over this holiday season. People are always gifting and sending others things over the holidays, so if they are planning on using their bitcoin, they should instead use their bitcoin directly and purchase more bitcoin when they need to. Instead of dipping, then this could cause an actual rise instead.

No, of course not, a lot of people have been saying that the price will drop at least by more than one thousand dollars because people wanted to buy "christmas presents" and it makes no sense.

Even if we want to make the price go down by more than $1000 we should lost more than 20 billion dollars on the capitalization, it is not possible.

Do you really think that people will withdraw 20 billion dollars just to buy a few christma's presents? It makes no sense. Maybe i will withdraw just $100 or maybe $150, but not more than that..

I dont think dumping of value in the incoming holidays will happens since lots of people are receiving their bonuses from their regular work i think they add their investment and the demand are continuous increase also its value.

I think most of the people focus on bitcoin during holidays because they have lots of freetime during holidays specially for users who have regular job which they only work in their free time. Also holidays was good for the bitcoin trader they can easily monitor their investments.

The idea is that a lot of people will end up selling their investments (in this case Bitcoin) to help pay for expenses around Christmas, and the selling of Bitcoin will make it’s price go down.

I’m not say it will happen, I was just asking if it could (because the idea itself is perfectly plausible).

I would rather just hold... I don't even want to consider the headache that is having to track and list every trade you do and get it taxed, it is insane. I don't know how it is in your country, but (I think) in my country there is a tax for each trade, including altcoin to altcoin trades, it is indeed insane, im not sure how any of this works so im simply holding long term. I don't want to waste money trying to trade, in taxes, in accountants, and probably end up losing money because bitcoin always goes higher than one expects and you always fuck up trying to get back in. I will just hold and hope for the best.

I think the longer you hold, the less taxes you pay, and definitely in some countries you only pay taxes once, when you convert to fiat in your bank account, but in other countries you must pay tax on every single damn trade. I would go insane if I had to do that so I will just hold the damn thing.

But on the other hand at the end of the year a lot of people get awards, bonuses, etc for the year. Where is the guarantee that many of them do not invest the money in bitcoins? This is also a good money and they can affect the price of bitcoin. It seems to me that it is impossible to predict the behavior of bitcoin. In the same place there are always a few roads.

I don't think that cashing out will happen during the holidays. We do have a lot of money from that time and instead of dip, increase can happen. There might be people that will cash out but if those are just small time holders there's no effect on the current price but if they are whales and did cash out hundreds or thousands of bitcoins then it may affect the price of bitcoin.

Yup 100% it will. Once the price hits $10000 (in some exchanges, it's already touched these prices), the price will have a correction. I'm speculating that it may even drop down to somewhere around ~$8000 before it can go up and set new all time highs. There's always a huge drop in price once a new high is hit and I don't think this time will be any different. Just make sure to buy tons at that low price  ;)