Cashing out....

[morantis]

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?

Don't try to cash out your money there still a chance that bitcoin will be increase always be patience and evetything will be fine. Don't panic just because bitcoin price is decreasing i'll tell you what bitcoin price is normal compare last last year. the price really makes me cry when i remembered it.

what are you talking about, last year was from $250-600, this is a higher price than pretty much the entire last year

[jacobmayes94]

I spent some of the money to see some friends in Nepal for 1.5 months, you can't beat going to the Himalayas and seeing good friends in the process, im keeping 80% as fait and watching the market closely and seeing what happens. I am also still earning BTC from my BTC freelance which nets me a total of 0.05 BTC/day atm anyhow!

Jacob

[Slark]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

[Tzupy]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out.

[Rahar02]

I spent some of the money to see some friends in Nepal for 1.5 months, you can't beat going to the Himalayas and seeing good friends in the process, im keeping 80% as fait and watching the market closely and seeing what happens. I am also still earning BTC from my BTC freelance which nets me a total of 0.05 BTC/day atm anyhow!

Jacob

Somehow to imagine going to Himalayas and meet friends sounds amazing, something that I am willing to do.
Nice purpose to sold your bitcoin, earning from your work and effort and no one can tell how to manage your own funds.
Moreover, sold 20% off was a good decision and total earning 0.05/day is fantastic in my point of view.
Well, my principle is never sell because of the price falling down but only if I don't have any money left to use (desperate, need money)
So, everyone free to do what he wants to, but panic sell is not an option because you will cause others to do the same thing.

[mtwelve]

Looks like Bitcoin couldn't break through $890 and seems to be slowly crawling back up. I remain cautious, with about 10% of holdings in fiat, 5% in NEM, 38% in ICN, and rest in BTC. While I think I can handle either a dip or a bull run, everyone likes to make money vs losing money 

[jjacob]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out.

The market seems to have shrugged off the news about fees on Chinese exchanges, like water off a duck's back.
Price has actually increased (albeit not much) post the news.

[KennyR]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out.

The market seems to have shrugged off the news about fees on Chinese exchanges, like water off a duck's back.
Price has actually increased (albeit not much) post the news.

The price of bitcoin is good, though the Chinese exchanges experienced a collapse. This doesn't look to be the proper time to cash out. The price is expected to increase as everyday some difference in price can be felt.

[pooya87]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out.

The market seems to have shrugged off the news about fees on Chinese exchanges, like water off a duck's back.
Price has actually increased (albeit not much) post the news.

The price of bitcoin is good, though the Chinese exchanges experienced a collapse. This doesn't look to be the proper time to cash out. The price is expected to increase as everyday some difference in price can be felt.

there is no collapse anywhere!
what is happening with Chinese exchanges is that they have added 0.2% fee to their trades which eliminates lots of trades because of it being less profitable to short and also they removed their margin trading which also eliminates lots of trades so volume dropped down.

[freemanjackal]

you have your reasons, some posters here may agree or not with you, you need to be clear that despite you can find some good advices here, just the market trend, logs history of btc prices, the amount of sells and buys, and some news related can give you the answer you are looking for, its not easy, but the answer its just out there.
good luck, in what ever you decide

[lionheart78]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out.

The market seems to have shrugged off the news about fees on Chinese exchanges, like water off a duck's back.
Price has actually increased (albeit not much) post the news.

The price of bitcoin is good, though the Chinese exchanges experienced a collapse. This doesn't look to be the proper time to cash out. The price is expected to increase as everyday some difference in price can be felt.

I do not thing the Chinese exchanges collapsed, as what pooya87 said, the fake volume had been removed.  So what we are seeing now is the natural trade volume of Chinese exchange.  And i removing those fake volumes is beneficial to accurately see things on what is really happening in Bitcoin market. 


I do not see anywhere that bitcoin price will go dip at this moment.  And it has shown that the current floor is somewhere around $900+ for some days now.

[MFahad]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Oh so that was the reason of minor dump in recent prices of the bitcoins. By the way Whats exactly is the date of Chinese New year ?
For cashing out bitcoins, i am not interested and will be keeping them save for long term.

[severaldetails]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Oh so that was the reason of minor dump in recent prices of the bitcoins. By the way Whats exactly is the date of Chinese New year ?
For cashing out bitcoins, i am not interested and will be keeping them save for long term.

The first day of Chinese New Year 2017 is 28 January and it will last until 15 February 2018.
Their New Years Day always falls on the new moon between 21 January and 20 February.
2017 is the year of the Rooster.

[HabBear]

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?

And what do you think is the support level at which the dust will settle? $800? $700? $600? $200?

It's a tougher ride when you're on the sidelines than when you're in the game. At least money on the table gets upside appreciation and if the price goes down you can just buy more at a lower price and bitcoin cost average your cost basis...average down as they say.

[The_Dark_Knight]

I don’t see the signs that we are in the middle of a bubble that already ended a few weeks ago it seem this price is going to be the new baseline for a while unless a new hack happens or something that affect the price.

[Slark]

I don’t see the signs that we are in the middle of a bubble that already ended a few weeks ago it seem this price is going to be the new baseline for a while unless a new hack happens or something that affect the price.

Since fake volume created by margin trading is now mostly gone it will be hard to see steep upward trends aka bubbles from now on.
Highly automated trading is gone too - because there is no more trading with no fees. What I expect to see is slow price increase and less volatility.

[Deja]

Bitcoin market is crazy but current price is totally undervalued, 1 mBTC costing less than 1 dollar is crazy for a currency with only 16 million units issued

[lottery248]

Bitcoin market is crazy but current price is totally undervalued, 1 mBTC costing less than 1 dollar is crazy for a currency with only 16 million units issued

it is around $.90 . bitcoin has only hundred thousands if not millions of active nodes so far AFAIK. if the bitcoin is being popular, 1 mbtc could be worth as as much as today's two.

[traderethereum]

BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.

Oh so that was the reason of minor dump in recent prices of the bitcoins. By the way Whats exactly is the date of Chinese New year ?
For cashing out bitcoins, i am not interested and will be keeping them save for long term.

The first day of Chinese New Year 2017 is 28 January and it will last until 15 February 2018.
Their New Years Day always falls on the new moon between 21 January and 20 February.
2017 is the year of the Rooster.

its good to see that in chinese new year which is 28 january, the bitcoin price is not going to down for deep and the price is somewhere around in up to $900. and if we want to cashing out, then i think this time is a good time to make money but in other choice is we can still hold our bitcoin for another increasing the price.

[mtwelve]

I don’t see the signs that we are in the middle of a bubble that already ended a few weeks ago it seem this price is going to be the new baseline for a while unless a new hack happens or something that affect the price.

Since fake volume created by margin trading is now mostly gone it will be hard to see steep upward trends aka bubbles from now on.
Highly automated trading is gone too - because there is no more trading with no fees. What I expect to see is slow price increase and less volatility.

 I would love to see this. I think it would be good for Bitcon too, I'm personally more attracted to a steady price increase then sudden jerks up and down. Furthermore, I think for outsiders  this "legitimizes" Bitcoin if they were to see it gain like 2% in price a month vs a jump to like 50% with then a sudden crash to 24%.