What do you do when BTC shoots up?

[andrei56]

If you have a strong feeling bitcoin is going to go down then the right call is to sell and then wait for the price to bottom out and buy again at this cheaper price, this is a very simple strategy but very profitable if applied correctly.

[alphabeta0]

Why speculate the ups and downs? Why not hold on to it and count on the long term growth?

[Sled]

Why speculate the ups and downs? Why not hold on to it and count on the long term growth?

This is a trading discussion section and it is normal to speculate the ups and downs of the coin because most of the users here are traders and i'm sure that a trader need speculation because that is how they make profit in every trading that they do. If you are more on investing then long term is the best for you because you don't know how trading works.

[raven7886]

I try to act according to the situation. When the increase is a result of organic growth, I try to hold it as long as possible. But in the case of a quick pump, I sell part of my holdings.

Yeah, when the price shoots up the best thing to do is to wait and see where it goes, I see a lot of people making the mistake of selling it and then crying over that they lost and missed their chance to make profit, this is all because they lack patience and patience is all what this market needs.

[andrei56]

Nothing, I just let it be and do a little celebration since I know that there is a bigger opportunity and a larger profit waiting at the end of the spectrum. Sometimes, I offload some of my coins just to have some profit claiming especially when I bought coins from $500-700 ranges. Not a greedy bastard but reall, good things comes to those who wait.

This is the right approach, we cannot sell everything or you will be left out of the game, but you cannot avoid selling since you risk the price could get lower again and you only materialize your profits when you sell your bitcoin.

[carlerha]

I try to act according to the situation. When the increase is a result of organic growth, I try to hold it as long as possible. But in the case of a quick pump, I sell part of my holdings.

Yeah, when the price shoots up the best thing to do is to wait and see where it goes, I see a lot of people making the mistake of selling it and then crying over that they lost and missed their chance to make profit, this is all because they lack patience and patience is all what this market needs.

i think the most difficult job is to take a decision. i think most of the people do not have decision power and that is the reason that they cannot buy or sell bitcoin on the right time and that is also become the main reason of their lost in bitcoin.

[SHAWN-MIDWAYS]

If you have a strong feeling bitcoin is going to go down then the right call is to sell and then wait for the price to bottom out and buy again at this cheaper price, this is a very simple strategy but very profitable if applied correctly.

imo this is a risky move...you just might end up losing all your stashed bitcoins and remain with nothing. Best option would be to wait for market prices to correct and sell with confidence.

Hi,

I'd like to know what do you think is a good strategy when BTC price shoots up and you feel it's going to come down again.
- hold on to your Bitcoin?
- Sell it for USD hoping to buy it again cheaper?
- Sell it for other crypto (in this case which would you choose)?

well depending on external influences such as btc etf maybe hodling will be the right thing to do as speculations of an approval are eminent. In a case of prices falling sell and buy cheaper btc.

[hurain]

Nothing, I just let it be and do a little celebration since I know that there is a bigger opportunity and a larger profit waiting at the end of the spectrum. Sometimes, I offload some of my coins just to have some profit claiming especially when I bought coins from $500-700 ranges. Not a greedy bastard but reall, good things comes to those who wait.

This is the right approach, we cannot sell everything or you will be left out of the game, but you cannot avoid selling since you risk the price could get lower again and you only materialize your profits when you sell your bitcoin.

actually when the price of bitcoin start felling down, people just take it a crash and start selling and panic like situation created. i think the most important thing is to hold our bitcoin in such situation so that bitcoin get a good support and the price do not fell down any more.

[johnwest]

If I feel that this is the top most point of Bitcoin raise and will drop after this, then I sell 50% of Bitcoins what I have and will be waiting for the dump. When it gets too low then will buy the same amount of Bitcoin again and hold it for the next shoot up... 

[bettercrypto]

If I feel that this is the top most point of Bitcoin raise and will drop after this, then I sell 50% of Bitcoins what I have and will be waiting for the dump. When it gets too low then will buy the same amount of Bitcoin again and hold it for the next shoot up... 

I will sell them all it is pointless to sell 50% and use it to buy cheaper Bitcoin, why not sell 100% and make it to buy x2  of the amount you can get from selling 50%.  Unless we are hesitant and think that probably bitcoin price will rise even more.  And if ever, the we can wait till the next price increase of BTC then sell at 100%.  Exit or profit that is my stand when selling

[JeffBrad12]

If I feel that this is the top most point of Bitcoin raise and will drop after this, then I sell 50% of Bitcoins what I have and will be waiting for the dump. When it gets too low then will buy the same amount of Bitcoin again and hold it for the next shoot up... 

Yeah, glad to see my prediction is come true, And sorry for those people just keep your bitcoin. I was predicting it since long time ago, and i have sold all of my bitcoin $1270.... glad to see i can buy back more bitcoin in the future. 

[MMA]

Nothing, I just let it be and do a little celebration since I know that there is a bigger opportunity and a larger profit waiting at the end of the spectrum. Sometimes, I offload some of my coins just to have some profit claiming especially when I bought coins from $500-700 ranges. Not a greedy bastard but reall, good things comes to those who wait.

This is the right approach, we cannot sell everything or you will be left out of the game, but you cannot avoid selling since you risk the price could get lower again and you only materialize your profits when you sell your bitcoin.

taking right decision on the right time is one of the most difficult job. most of the people are feeling reluctant and cannot even decide what to do and most most of the time they missed the right time to buy or sell every think. i think they must be strong decision taker so that they can take a right decision on the right time.

[sunsilk]

I just do nothing and just wait for the price to keep on shooting higher, I usually don't sell bitcoin if there's no need to do it so.

Because I'm treating my coins as precious investment and will hold until it fly to the moon, so that's what I've been doing.

And I'll just sell if there's a need and there's an emergency.