The problem with selling out at any price

[jubalix]

The problem I see is  the upside risk of a 10x jump making $1000 the new 100, is so high in my book that I will not sell out but buy in with more fiat if the price drops.

I could only trade a very small proportion on alts.

It Only takes very few moderately wealthy people / corps / or some influx of buyers to do the 10x jumps, and it's going to happen.

Eg BTC has done 10x/order of magnitude thorough its history and not gone back just traded in the new magnitude range

also the amount of successful trades you have to make a 10x profit is quite large, and do do two orders of magnitude 100x almost impossible.

So what's other people takes on this, how do you mitigated the risk of it doing the order of magnitude jump while you have sold into fiat?

[calian]

Yeah don't use any of the core position to play with alt coins. New $ only. Actually considering that they make penny stocks look stable and secure should likely only use funds earmarked for gambling.

[Melbustus]

The problem I see is  the upside risk of a 10x jump making $1000 the new 100, is so high in my book that I will not sell out but buy in with more fiat if the price drops.

+1

[cedivad]

I dont think so.
Whatever upwards spike will happen, it will be progressive. (If not news driven)

[Zangelbert Bingledack]

Mistake bears make: losing their position in an asset with tremendous upside potential because they sold ALL their coins hoping to buy back lower

Mistake bulls make: never taking ANY profits even when bitcoins grow to constitute 95% of their net worth

Going all-or-nothing is just amateur. Take a little profit when you'd be insane not to, and never sell all your coins unless you're sure Bitcoin is dead.

[chriswilmer]

The problem I see is  the upside risk of a 10x jump making $1000 the new 100, is so high in my book that I will not sell out but buy in with more fiat if the price drops.

I could only trade a very small proportion on alts.

It Only takes very few moderately wealthy people / corps / or some influx of buyers to do the 10x jumps, and it's going to happen.

Eg BTC has done 10x/order of magnitude thorough its history and not gone back just traded in the new magnitude range

also the amount of successful trades you have to make a 10x profit is quite large, and do do two orders of magnitude 100x almost impossible.

So what's other people takes on this, how do you mitigated the risk of it doing the order of magnitude jump while you have sold into fiat?

I feel the same way.

[jubalix]

Yeah don't use any of the core position to play with alt coins. New $ only. Actually considering that they make penny stocks look stable and secure should likely only use funds earmarked for gambling.

look your completely right, an I only feel lightly more safe in alts than fiat as the yare usually a % of BTC and it seem to hold, but ok, your right.

[N12]

You could learn technical analysis if you have the time and will to trade the market. There are times of higher and lower probability for a move of that magnitude to occur, and you can learn to spot such a breakout.

For most people, I'd recommend dollar cost averaging a sum they are willing to lose into Bitcoin over months and forgetting about them. Once in profit, one can set up some rule like selling a certain percentage every time your holdings grow in value by 50% or 100%.