How long are they holding the BTC?
Most importantly, we don't know what Grayscale exactly is and that’s where we are confused. Grayscale holding bitcoin, the source of money is their investors and the investors aren't directly investing in bitcoin. They are investing in the share of Grayscale bitcoin fund.
Therefore, selling bitcoin for Grayscale for profit isn’t something important I guess (I might be wrong in this though).
This has been a question in my mind for some time, if Grayscale holds so many bitcoins and keep buying it over time, when they will sell it or whether they will take profits after the price hit the ath, but it may be the case as Grayscale offer bitcoin trust (GBTC). GBTC is a trust that only holds Bitcoin. Grayscale Bitcoin Trust tracks the Bitcoin price based on the TradeBlock XBX Index. But while the trust closely mirrors the performance of Bitcoin, the GBTC stock price tends to over- or undershoot performance based on investor sentiment. sourceSo, I bet they will sell bitcoin if investors start selling their 'trust' which is at the peak of bitcoin price such as when bitcoin hit $42k and the sell-off occur caused bitcoin to fell 27%. |
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The bottom line here is,
Our future is in our own hands.
Our approach in life especially our decisions related to cryptocurrency trading and investments is significant because it depends on how it will gonna affect our financial status in upcoming years. Like having a good plan and decisions for holding bitcoin for long term and then rebuying at the dip for future profits.
Correct. everyone has different sustenance, even if they work in the same way, but at least we have to try doing the best. If we refer to cryptocurrency in 2021-2022, most of us speculate it will be the same cycle as in 2017-2018, reach the ath in this year and gradually decline in the next year. However, who knows what will happen? just be prepared and work the way you can and don't be greedy to pursue the profit, there will be opportunities to accumulate more and sell at the peak. |
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I don't see Bitcoin reaching such price with the current price this month and $80k is just too much IMO. But speculators are expecting a $100k or $200k, I don't know what they were thinking but that's just too much to be expected to happen this year. Maybe another halving again Bitcoin might achieve that price but for now, the highest Bitcoin is trying to break is a $43k which isn't happening yet.
Definitely not this month, when it clearly has seen a lot of people take profit above $40k and wanting to buy the dip again below 35k. Speculators looking at 100k? Yeah, sounds possible, but they shouldn't be expecting it any time soon, I would say not even this year, because there are many, many stops along the way. Bitcoin still in the bull run though, indicates a breakout move out of the triangle pattern and move above the $40,5k then it may surpass $45k by the end of this month and probably surprise us in February to reach even higher within $50k-$60k. However, bitcoin price drops 10% in the last 24 hours as the price drop slightly below $32k as the whales showing a potential sell-off on Coinbase. "It seems $BTC sellers came from #Coinbase. Coinbase Premium Index has been a negative value since an hour ago," Ki Young Ju, CEO of on-chain analytics resource CryptoQuant. source |
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his first name: Arthur
his last name begins with the letter D.
You will have a better chance to find him on social media than in this forum, as you said meeting him on a paradise island, such people tend to have a lifestyle that is usually shared on social media like twitter, instagram, facebook, etc. I'm wondering, have you decided how to sell 50000 bitcoins? is it all at once or partially in stages? |
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Should I hold for more time?
Should I buy some more now only or wait if the price dips a bit?
Bitcoin price supposed to increase over time but yeah, the fear of missing out to take the profit when the price increase rapidly and before it starts to fall as we don't want to miss the train. What if the bitcoin price suddenly drops again like 27% in 24 hours, we want to sell at the peak and buy back in the dip to maximize profit, yet who knows that was the peak and the best time to sell. Nevertheless, if you believe bitcoin worth more than that and can hold longer, then just waiting for a higher target than $42k. If you have extra money to spend than buy more, only if you are not chasing profits in a short period of time. |
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10% of your net worth seems like a sweet spot for an extremely risky asset. Less than 10% would make you a bit more conservative, and more than that would make you more aggressive. With 10%, you will get a nice return if the price goes up, and won't cry too much if the price goes down. It is possible that there will be a few more bitcoins in the future
On average, every 10 minutes, a few Bitcoins are mined, so yes, there will be more Bitcoins over time until we reach max supply. But if it is about changing max supply, the possibility is extremely slim. there will be a possibility that the bubble will burst?
Yes. Depends on; how much of your total assets, how much you have to spend each month, how much your income/month, and how long are you planning to hold bitcoin. There is no definitive answer for everyone, as we have a different situation. Let's calculate from the expenses every month, at least you must have sufficient funds to cover expenses for the next 1 year without income in case something goes wrong. Assume if your total asset is $200k, expenses/month $7k, income $10k, then preserve $84k as savings for 1 year, invest 50% or $100k in bitcoin if you want to hold it for a year or less. We know bitcoin will reach at least $100k by the end of the year, right?  |
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If I remember 2016 and 2017 was the best time to accumulate bitcoin because at that time the pay rate for sig-camp was BTC0.021/week and gradually decline since then.
I have bought and sell bitcoin and altcoins, could make good profits yet it can't compare to the current price; if I didn't sell my bitcoin and hold to date, but it doesn't work that way, there is no point to regret what happened in the past as we can do nothing about it, let it go and learn how to think and make immeasurable decisions, whether to buy, sell, or hold it.
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Whats funny reading your thread is the first reply which says, I am sure they can never be $50k per 1 bitcoin. It is unbelievable. And 7 years later.... bam almost $50K. I remember 2014 quite well. There were people who were predicting $5K bitcoin by end of 2014 and then later these same people were expecting double digit bitcoin at the end of 2014. Many people were very bearish in 2015 which did nothing to the price for most of the year. Pretty boring year. I remember the Antminer S5 was the best miner to have back then. Made a great profit if you held all those coins, which I am sure most didn't. Its crazy how we are so close to $50K. And reading your thread really brings back many memories. Its good that you are still active on this forum. Most people have moved on to Twitter or Reddit. And another reply If You wait 33 years maybe they will be worth 50K Cheesy I will wait too see You in 33 years Smiley Clearly has no idea how bitcoin will grow after 4 years when the halving takes place. It's interesting how people predicting the time frame for bitcoin to reach a certain point, like I would bet that $50K/BTC will be after 2 reward-per-block halvings (~2020 year) Yes, he almost got it right but it will be achieved in 2021. There is no place to discuss and predict bitcoin better than here. Imagine how much bitcoin value will increase in 2029, probably $800k - $1 Million. |
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Everyone knows what they need to do, as our perspective and goal may be different.
I'm not using bitcoin as a regular currency on daily basis but buy and sell according to necessity and urgency. If bitcoin is about to burst then sell all of it and waiting for the bottom to buyback, it will maximize the profit and could accumulate more bitcoin into my wallet for sure.
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Even if Satoshi still alive and definitely has the private keys to those coins, I doubt he will ever move his bitcoins due to the risk to reveal his identity and could affect the price, so it would stay there forever to preserve it. Since bitcoin protocol so safe, no need to worry about it, whoever manages to access the private keys will be traced and can't escape freely, yes he is in danger.
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Bitcoin can't always increase without correction, like a bubble that will burst at the end. It was expected when it rises to $22k, $25k, $29k but bitcoin break all those resistance levels and turned out to surpass $40k, hit the ath at $42k. Many people predict bitcoin will drop 30%-40%, yet it fell only 27% and the crucial support level at $30k still hold firm until this point. Although bitcoin price drop to $30k then it retains a strong rebound that has allowed it to surge back to $36,000.
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USDT is a double-edged sword, while many exchanges use it as trade-pairs, yet the company issued usdt claim it is pegged to USD but the reserve to backed the value at best each USDT is backed by only $0.74 in cash and cash equivalents, and not even necessarily by physically USD, check this out https://wallet.tether.to/transparencyTether formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. sourceUntil 2017, the companies Tether and exchange Bitfinex insisted there was no relation between the two but in fact, after the investigation on the operations of Tether, it's owned and operated by the same people. It is only a matter of time until we find out the truth of USDT sooner or later.  |
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Trading is not one day journey obviously, it takes months and years to learn and develop strategies to deal with the market unless you have tons of money to invest in bitcoin in December 2020 and sell all of it in January 2021, you'll make more than 100% profits, but it's not the case for most of the people. So, it's better to grow the portfolio gradually weekly or monthly, or whenever the opportunity arises to make trades. Buy and sell to gain 2%-10% profit is good enough to build the portfolio and don't be greedy, set the buy orders and stop-loss-limit.
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As per coinmarketcap, we have drop +7% in the last 24 hours, pegging the price currently at $34,800. So dip continues, but the good news is that we are still above $30k and maybe this will be the support level until we either have a break-out run start of the week.
So I would say that we might trade sideways for now, expect the price go on as high as $38k. Perhaps the market has somewhat slow down, although I haven't seen any negative news as of late, there are threads saying otherwise. But going to $10k? I doubt that we can go that low as the opportunity to buy exist at any levels.
Bitcoin day's range is $33,833 — $36,839 based on bitstamp, so it down 2% over the past 24 hours, coinmarketcap seems different, perhaps the time frame of 24 hours to calculate the price drop also different. Well, we can assume bitcoin going sideways or the market appears to be assembling a base for the next breakout to surpass the ath at $42k, I would say it won't take so long to reach that target, as $30k was the bottom and let bitcoin consolidate the resilience to bounce back. |
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If price reaches $100k and then stops there, reversing into a bear market then it puts an end to the history of bitcoin bull/bear cycles and we can no longer predict what will happen next because it will all be new. We may not even see a bubble and the bubble burst anymore.
But if the previous cycles that have happened at least 3 times repeat, we should see $400k at least and it would mark the next bubble for bitcoin then kick start the bear market in 2022 with another 80% drop.
So far (starting from previous bubble in 2017) everything has been pretty much the same in the pat 3 years.
$400k would be nice if the cycle of bitcoin repeated before the bear market takes place to pull down the price to 80%-90%. But makes us wonder how much money it needs to reach that mark, bitcoin needs more investors and adoption around the world. Yes, we can't predict the market 100% correctly and bitcoin growth always surprised us just like the last rally from $20k to $40k. Probably when the next milestone will be surpassed, bitcoin will get into the next stage, multiplying the value. |
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It's not an easy meal if you read the terms and conditions [BTC: 20 ds (min 0.1 btc bet)], besides who wants to bet on something that is more likely to lose and may end badly. Well, we'll find so many people fall into this trap in the gambling site, not sure why many people like to lose money though.
However, for something too good to be true is more likely a trap and won't tantalize most people, it's a phishing site that we need to be aware of.
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It's impossible at this point, not just because the institutional investors but the cycle of bitcoin make it that way. Adoption and acceptance worldwide create great support for bitcoin, scarcity due to halving and high demand lead the price to increase over time. The history noted that after bitcoin reach the peak, it may decline gradually throughout the years up to 80%-90%, if Bitcoin could reach $100k as the new ath, then $20k or $10k as the lowest price levels.
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Bitcoin expected to hit $100k, so it should surpass $60k to reach that level, I wouldn't say $100k is the limit but it still far ahead. First, bitcoin has to establish strong support above $40k then we can speculate about $50k, then $60k. Eth and Ltc are the best two coins after bitcoin, the market fluctuates following bitcoin but only those two coins manage to hold a good position although other altcoins drop against the rise of bitcoin.
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I have already written that everyone should check how much they will pay for the transfer of money via Western Union or between two different banks, and I will not even mention the waiting time for confirmation of the transaction. I understand clearly what you're saying but that doesn't justify why bitcoin fees has to increase this much. Many of us shifted our attention to the bitcoin currency as a result of it's low fees and today that can't be enjoyed anymore on a larger scales though. I get it that sometime you can send your transaction with low fees but that doesn't happen often. Just because it's a little bit better than the other payment options doesn't make it an ideal for the miners taking this much to confirm our transaction. With this rate I don't think bitcoin can be accepted globally, if the charges are this much and other alternative payment system comes out with a cheeper rate then the patronage will change and the new system will get the attention Bitcoin ones have. One of the flaws of the traditional banking system is it's huge charges, and with the recent developments in bitcoin network, it's slowly heading towards this same flaw. Bitcoin fees are relatively cheap and expensive at the same time depends on how much you are willing to pay for miners, we call it expensive just because the price of bitcoin increase by over 500% in less than a year, what you expected then? But there is a way to pay less fee by observing the mempool, don't make a transaction if there is a lot of queues that pay high fees over 100sats/byte. For example, if I send bitcoin now when bitcoin at $36,840. After check https://bitcoinfees.net/, I will pay a max of 20 sats/byte > BTC0.000056 or $2.060 as the fee, it would be smaller like 1-10 sats/byte if there are fewer unconfirmed transactions on the list.  |
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what should we do if we have some bitcoin at this time, regarding the increase in bitcoin prices that we see today, of course the value is very high compared to the increase in the past years, so do we have to sell some bitcoins at the current price, or even we add value to the amount of BTC that we have today by buying it at the current price for us to store for quite a long time ,?
What are the suggestions & opinions of all of your friends who are here?
The fear of missing out when the price of bitcoin increase rapidly and regret when selling too early or too late are some feelings that we have to deal with. Bitcoin price supposed to increase this year, some say up to $250k but I would assume $100k, it's better if bitcoin can increase more than that obviously. Therefore, if you don't need to sell bitcoin, don't sell it until it reaches the peak refers to your perception, rather accumulate more coins into the wallet. If you are a trader in order to maximize the profit, buy and sell at your will but don't regret the wrong-call that you may make. |
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