Cashing out....

[MWesterweele]

To be in the safelane,  don't convert all. Example, you have 10btc, convert 7 to usd, leave the other 3.

I don't think it will be as serious a bubble but i kinda want to ride this out, im £15k up and i don't want to get greedy right now!

Good call mate. You're a disciplined trader and no matter which way it goes, you're up. Grats

[alyssa85]

it is always expected for weak hands to start panicking at some point and start thinking about "cashing out" that is why other traders are making profit. if things like this don't happen then bitcoin market becomes boring to a point that there wouldn't be enough profit in it.

I hate this talk about "weak hands". Every trader is different because their entry point is different. If you cash out at a profit, you arn't a "weak hand", you are a successful trader who has realised an actual profit. Theoretical profits are for the birds. Each trader should do whatever is comfortable for them, don't let people panic you with talk about holding on for their reasons.

[manselr]

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese  exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

you biggest mistake is that you think there is a bubble right now, but you are in a big mistake. there is no bubble. the bubble bursted a while back when price went down from $1160.
this price is not going to go down tht easily because of the way it was risen.

besides the fees on chinese exchanges and the situation over there is the best thing for bitcoin because they can no longer fake anything and most things are real now.

with all that said, if you think otherwise by all means don't hesitate. someone has to give the whales the cheap coins they want

I think this is the case too. The thread of "you will sell at the bottom" is accurate. Well maybe not at the bottom but it's going to be a disappointment for most sellers when the price starts going up again. The damage of the PBOC is already priced out, the fake chinese volume was overrated, and fees are a good thing on exchanges to avoid stupid shit happening to the price. This is bullish.

[jacobmayes94]

I am happy though with 15k profit, being on your average income, 15k to me is more than 1 years salary so cashing out while I am up this high doesn't worry me too much, i just don't want to get greedy XD

[jakelyson]

I am happy though with 15k profit, being on your average income, 15k to me is more than 1 years salary so cashing out while I am up this high doesn't worry me too much, i just don't want to get greedy XD

That is the right attitude OP. Do not be too greedy. And even if you cash out right now, if ever, you can still re enter on the price you are comfortable with. Take your profit and enter again the market in the future. If what they say is right, the price will stay go way up. So there are still a lot of opportunities to enter and make profit.

[Denker]

Taking some profits is ok.
However I wouldn't convert all to fiat.
Cash out a certain percentage and keep the rest in BTC.
When you're right and we will go down you still will have more BTC as before when buying back in.
If you should be wrong you wouldn't have to pay that much extra.

[Carmen_Sandiego]

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese  exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

you biggest mistake is that you think there is a bubble right now, but you are in a big mistake. there is no bubble. the bubble bursted a while back when price went down from $1160.
this price is not going to go down tht easily because of the way it was risen.

besides the fees on chinese exchanges and the situation over there is the best thing for bitcoin because they can no longer fake anything and most things are real now.

with all that said, if you think otherwise by all means don't hesitate. someone has to give the whales the cheap coins they want

I think this is the case too. The thread of "you will sell at the bottom" is accurate. Well maybe not at the bottom but it's going to be a disappointment for most sellers when the price starts going up again. The damage of the PBOC is already priced out, the fake chinese volume was overrated, and fees are a good thing on exchanges to avoid stupid shit happening to the price. This is bullish.

Yeah, I don't see how that could be a problem for Bitcoin. The only people benefiting from exchanges without fees are those using bots, while all other people, who have the potential to bring demand, promotion and organic growth to the ecosystem, are those who are harmed by it.
Those who don't understand this may generate some panic in the market, but Bitcoin has risen more steadily lately, so it's unlikely to crash like it did before.

[jtipt]

If you are making a profit selling now and don't want to take any risk then its fine if you sell. But I personally don't think bitcoin price will go down further than what it already did after the new year fall.

[jacobmayes94]

I would say i cashed out 80% and left 20% in, walked away with 15k and still have a chance to benefit from a price rise should it happen!

I did make much more profit from buying coins than mining, though. Mining was more for fun.

[Noctis Connor]

well you will regret it if the bitcoin price will pump suddenly. because you cant tell bitcoin price because we all know that its suprisingly pumping . and the one im thinking about if you're not gonna use the money dont cash it out. because there's a more chance that bitcoin could pump higher. but if you're saving it and you will use it for personal use you could cash it out and buy again when its price dump.

[BrewMaster]

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese  exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

if the past couple of years it has been proven that price of bitcoin is on the rise and whenever it goes down, it is just a dip because traders sell for profit short term and it is there to make a good opportunity for people to buy cheaper coins at the bottom and continue rising.
and right now we are after the dip which means there is not much reason for another one since everyone who mattered has accumulated cheap coins.

[richardsNY]

I would say i cashed out 80% and left 20% in, walked away with 15k and still have a chance to benefit from a price rise should it happen!

I did make much more profit from buying coins than mining, though. Mining was more for fun.

May I ask when you exactly bought and sold? If you bought well before the price started to peak, then why didn't you sell at that time? It makes no sense to cash out after missing a more than decent price (+$1100) to cash out at, unless you still make a few hundred in profit per coin by selling at current rates. Mining isn't an interesting investment option if you don't have sufficient funds to accommodate some sort of a mini mining farm. Btw.... What did you like so much about mining? No fun in seeing the difficulty climbs up higher and higher with every adjustment.

[jacobmayes94]

i did cash many out at the $1000+ peak and bought back when it hit $800, i was able to catch that train... But i kinda decided after the profits i have accumulated not to let greed take over!

And most BTC mining i did solo for fun. No block like yet XD

Did plenty of GPU mining for ETH and just converted to BTC.

Jacob

[mtwelve]

I'm feeling the same way OP. Especially with the Chinese stuff, I might swap to altcoins for the time being. I still hold a majority in BTC, and either way I'll just buy cheap coins. But I like making money more than I like losing it so :p

[maku]

From what I know jammed MemPool was never responsible for any price drop. I remember that during the the biggest bullish trends MemPool was always ridiculously packed.
Bitcoin is now sitting at $900, Chinese crisis is probably over, so IMO it is a waste to cash out now. Wait when we will reach $1000.

[lite]

Well, i cashed out 25% of my total coins. if the price falls i'll buy it again lol. it probably won't fall, the price will move up!

[j753k]

Cash out 5-10% of your holdings for a quick profit, then buy back if it drops to 600 again.

[marcuslong]

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese  exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

Son't get in touch with your emotion in the price of bitcoin instead focus on trading it don't get panic on selling your bitcoins in the end bitcoin will increase again its part of bitcoin to those people who are really in trading industry to make profit as well.

[soros017]

Well, i cashed out 25% of my total coins. if the price falls i'll buy it again lol. it probably won't fall, the price will move up!

Probably, I also think there are more chances for the price to go up. In my analysis, Bitcoin is certainly close to the bottom price, and trading in this price range brings greater risks.

It is possible that the price will fall, but we will hardly see it in the $ 850 range again. I think the odds for this to happen are very low, especially due to the fact that Bitcoin is receiving a lot of support in the market recently, and the current price was not the result of a quick pump, but it was a result of real demand and good market conditions for this to happen.

[n691309]

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese  exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

It's up to you to sell or not, but I think that you have made a profit or you need the cash now otherwise you would hold (that's what I would do) but bitcoin for a while now is ~$900 which is not bad it can be worse or it can be better but unless you need the cash I wouldn't sell them. I don't think that the same scenario of 2013-2014 will happen now because now is another time.