Bitcoin Forum

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.

No definitely dont!!
see my previous threads I made earlier today in the speculation section, the downtrend is breaking as we speak!
and also, the smartest thing to do is buy Doge, best alt coin- low risk and VERY high reward, it should be at least 10x higher than it today, relative to bitcoin, based on the size and quality of the community!

That advice is doge advice.

Don't do it, in the long run (big if but that's what you signed up for), a $705 entry will feel cheap

Just no way to game this beast reliably and as you admit you are a newbie

If you have some extra cash, try to cost average down if you can

I wouldn't do it.

My personal view: Watch one bubble the WHOLE WAY THROUGH before you try and get cute. Having some BTC in the game will keep your eyes glued to the chart like nothing else. Then, next bubble, when you've had your eyes glued through one round and done your share of shitting bricks, you'll be a LOT better prepared and will be able to stomach this shit loads better.

This. Dollar cost average if you are concerned about your buy in price or just sit tight. You need to ask yourself why you bought 33 BTC in the first place. If you did because you believe in the long term viability and growth of bitcoin, don't sell now.

Welcome,

You need to make a decision, do you want to have more fiat value or you want more Crypto.


NOW LETS PLAY THE GAME.
You Initial Invest:
           $24,675.00

Sell your 35 BTC at around 575.xx , that should net you $20,125.00, your total lost was $4550.00.


Place you Buy order at for 15 BTC at 548.xx, that should cost you around $8220.00.

  >>> Place a Sell order at for 15 BTC at 569.xx, and you just made $315 profit

Place another Buy order at a much lower price, lets say 10 BTC at 525.xx,

And so on.  Always have % of FIAT in Hand. (if you see the market moving lower, cancel your Buy Orders and put them in lower price | Also if its going up change your sell orders}



Also very important, try to stay above the news, Negative news will cause a panic sale. Positive News will cause a Panic Buy.

( What I do for the news, I go to Google, click News and search Bitcoin )


By playing the game, you should recover your 4.5k looses you had.


Also I personally don't think we are going up, I think we will be around 450-550 for a while. UNLESS we get great, VERY great news.


But at this moment I don't see nothing, we are going Pre November 2013


THIS GAME IS DANGEROUS IS NOT FOR EVERYBODY. Feel free to PM, ill help you out.


Use an Exchange that has low trading fee's, I my self use BTC-e.com for my trading game (NEVER KEEP ALL YOUR EGGS IN THE SAME BASKET)

Google News URL:
https://www.google.com/#q=bitcoin&tbm=nws

Android App, Has every market, updates every 5secs, and Has an Alarm OPTION in which you could configure it as you wish.
https://play.google.com/store/apps/details?id=com.mobnetic.coinguardian&hl=en

BTC-e, their fee's are 0.02%, I never had a problem depositing or withdrawing. (look me up at the troolbox, same handle)
https://btc-e.com/

horrible advice , buy dogecoin hahaha

buy Litecoin and bitcoin.

Don't: https://www.tradingview.com/x/WaXEhtYl/

anyone could guess that an asset which increases at a rate of 8000% pa can easily crash by 75%..... you must mentally prepare yourself for rough times. low expectations. dont trade every swing.

Also something that I forgot to mention, this does fit a bubble.

And as always,  Don't let me or others users make a decision for you, its your money.

Bubble Pattern
https://lh6.googleusercontent.com/-oZVOkQPbhDo/UxRIYFMqWuI/AAAAAAAACD0/B521IPXVM6w/w832-h865-no/Stages_of_a_bubble.png

Why take the risk? buy low sell high. wait a year. Getting worried/greedy during bitcoin's insane volatility is a dangerous game IMO.

No it's a bad decision and you will regret it dearly in 6 months from now. It looks like the downtrend is about to get broken or already breaking, so it's really not a good time to sell at a loss right now. But your own choice man, don't let us take it for you.

If you have nerves of steel, patience and a willing to lose your mind you can try riding the bitcoin wave. But its no picnic. You have been warned.

I hope you followed my advice in post #2 and saw my previous threads I made earlier as I mentioned to you
https://bitcointalk.org/index.php?topic=497803.0


and I would still stay put, once the next downtrend gets broken, the path is open to the heavens

dont sell for loss. hold or buy shares from services that accept BTC

it already hit 710 today at stamp. keep your btc, don´t start day-trading now. the bear market is over, put the btc in cold wallet, wait some months and see it´s value rise week by week. it may feel bad to have temporarily "lost" some $. but i can tell you from experience: it feels much worse to day trade and end up losing coins. you do not only feel the pain of the actual loss, but in addition this hounting bad feeling about the potential future losses, since the coins you lost will keep rising in value...

do not start trading now. and forget this altcoin sheit.

sorry your late to the party, his question was posted yesterday when the price was $560-570.
also, you seem to be new, or a novice trader. alt coins are the FUTURE. especially dogecoin. (I've spent many, many hours and analyzed virtually every other major coin, and went through about 200 of the top altcoins, dogecoin is the lowest risk, VERY VERY high potential, it has strong technical and fundamental support). Theres a big difference between 5x your money and 50x your money, but hey, you can't teach an old dog new tricks- unless he really wants to learn

Oh would you fuck off you and your dogecoin?

nobody here cares about dogshit coin; it has infinite cap on number of coins mined, and the exchange value pegged to bitcoin will be worthless soon.

My friend,
You are here reading lots of posts from people who daytrade.
Ignore all this moment-by-moment chatter and angst.
You are zen.  You do not try to time the market.  You do not succumb to illusion.
You have bought at various times and at various prices.
What you bought at is irrelevant.  None of that matters now -- your decisions bear on the future.
What, you can't wait six months or a year to make a fat profit?  You'd rather throw it all away and sell now?

Oh, not this again please. This pattern has been repeating since it was $1.

Amen.

Best advice in this thread.

Don't get sucked in by the cult-like delusion of the nutbar Technical Analysis true believers.

They seem to think that Bitcoin is a gambling scam like  casinos, stock markets, or lotteries.

Learn as much as you can digest about the Bitcoin protocol, preferably starting with Satoshi's original white paper to get an historical perspective as well as a technological understanding of what Bitcoin (and by extension all cryptocurrency) is based on.

Be grateful that you bought in for less than $1000 and can count yourself as an early adopter. Don't blow it by selling. Yes, there's still a chance that the price may dip again before the inevitable rise to new ATHs, but it's not worth the risk of being left behind when the coming rally arrives.

Do investigate other cryptocurrencies to learn and try to understand their origins and motivations, while recognizing that Bitcoin has the advantages of being first out of the gate and having a clear headstart at infrastructure development. I attribute Litecoin's #2 position to its Scrypt-based algorithm, which allowed otherwise obsolete GPU miners to continue when FPGA and ASIC miners had usurped SHA256 mining.
Like many others, I consider Dogecoin to be a meme/media-based novelty with a questionable future. If I had to pick any altcoin, it would probably be Ethereum with its programmable contract capability, or to a lesser extent, Zerocoin because of its anonymity. Inform yourself and make your own decision.

Just remember, the Bitcoin adoption curve is nowhere near the vertical stage and should continue parabolically as it has pretty much steadily since its inception except for brief aberrations like Oct 2010, Jun 2011, Apr 2013, or Nov 2013.