Should someone who bought in at $150 sell and cut their losses NOW or hold?

[elux]

It's beginning to look like $50 is the bottom, folks.

To the brave Spartans who fought and held at 50:

http://www.youtube.com/watch?v=HdNn5TZu6R8

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1715545570

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[Francesco]

It's beginning to look like $50 is the bottom, folks.

Never heard you that bullish... 

Proudhon bullish = crash imminent?

Now that's how to spread panic! ...prepare to test support at 0.05$!

[Geist]

I'm not going to make a new thread for the same exact topic, so I hope you don't mind if I ask a question as well.

I bought at $70, how low do you expect this crash to go? If I sell now, and it goes to $50, I can make more than I had before. If I sell now and it goes to $40, I can make a lot more than I had before.

Either way, I only bought $200 worth, so it doesn't matter much, but it's interesting to know what you guys think.

[b!z]

Hold and play long, it will be an interesting ride. $300 isn't much in the grand scheme of things.

[4325tgdfdfg]

wat

sell when it reaches $10,000 a coin in 2016 obv

[superside]

It's beginning to look like $50 is the bottom, folks.

*Grabs chest, staggers backwards, collapses*

O.O

No shit, now I'm worried!

[drawingthesun]

I only bought 2 BTC so not worried either way but interested to see what peoples opinions will be.

Assuming you don't need the money, hold, it will keep you in the game and Bitcoin will either return or go to zero and never return, many people sold at -$10 after buying at $30+ in the last peak, if they held they would still be up even right now.

I'm not going to make a new thread for the same exact topic, so I hope you don't mind if I ask a question as well.

I bought at $70, how low do you expect this crash to go? If I sell now, and it goes to $50, I can make more than I had before. If I sell now and it goes to $40, I can make a lot more than I had before.

Either way, I only bought $200 worth, so it doesn't matter much, but it's interesting to know what you guys think.

It might go lower, be-careful day trading, it might go down and down, and then you sell to buy more Bitcoin when it goes further down. Except that ends up being the real low and it starts to gradually rise again. $70 will be met again, might take a year max. (unless Bitcoin goes to zero never to return)

It's beginning to look like $50 is the bottom, folks.

Are you being sarcastic? I think $50 is quite high for your bottom proudhon. Not expecting single digits?

It's beginning to look like $50 is the bottom, folks.

*Grabs chest, staggers backwards, collapses*

O.O

Yeah, unprecedented right?

[proudhon]

I only bought 2 BTC so not worried either way but interested to see what peoples opinions will be.

Assuming you don't need the money, hold, it will keep you in the game and Bitcoin will either return or go to zero and never return, many people sold at -$10 after buying at $30+ in the last peak, if they held they would still be up even right now.

I'm not going to make a new thread for the same exact topic, so I hope you don't mind if I ask a question as well.

I bought at $70, how low do you expect this crash to go? If I sell now, and it goes to $50, I can make more than I had before. If I sell now and it goes to $40, I can make a lot more than I had before.

Either way, I only bought $200 worth, so it doesn't matter much, but it's interesting to know what you guys think.

It might go lower, be-careful day trading, it might go down and down, and then you sell to buy more Bitcoin when it goes further down. Except that ends up being the real low and it starts to gradually rise again. $70 will be met again, might take a year max. (unless Bitcoin goes to zero never to return)

It's beginning to look like $50 is the bottom, folks.

Are you being sarcastic? I think $50 is quite high for your bottom proudhon. Not expecting single digits?

Looking at the broader view, there's really a tremendous amount of support building up around $10 that can protect against single digits.  That's probably a lot of the institutional money placing itself visibly on the sideline in order to watch this play out a little while longer.  As MtGox builds confidence around improving their backend, that money will feel more confident about getting back in the pool.   It'll probably take some time, but I think there's a good chance this gets repaired.

[Geist]

I'm not going to make a new thread for the same exact topic, so I hope you don't mind if I ask a question as well.

I bought at $70, how low do you expect this crash to go? If I sell now, and it goes to $50, I can make more than I had before. If I sell now and it goes to $40, I can make a lot more than I had before.

Either way, I only bought $200 worth, so it doesn't matter much, but it's interesting to know what you guys think.

It might go lower, be-careful day trading, it might go down and down, and then you sell to buy more Bitcoin when it goes further down. Except that ends up being the real low and it starts to gradually rise again. $70 will be met again, might take a year max. (unless Bitcoin goes to zero never to return)

I'm trying to take a calculated risk. If I sell now, ya, I lost $40, but I have the chance to make more. If I wait, and it goes further down, I lost an impressive opportunity(of course, I could put more money in, but I'm trying not to do that. I want to buy bitcoin only with my initial investment and profits).

But...I guess I'll hold. It seems to be rising slightly anyway.

[Luckybit]

I only bought 2 BTC so not worried either way but interested to see what peoples opinions will be.

Just hold on. If you have the technical understanding to know the source of the volatility then you know it's in the process of being fixed but that it could take 3-6 months. We are waiting for Gox to update their trade engine and waiting for more advanced trade engines to be built. This typically takes 6 months to code, possibly could take a year but from looking at the code myself I'd say at the most it will take 6 months because it's not that complicated.

[drawingthesun]

Looking at the broader view, there's really a tremendous amount of support building up around $10 that can protect against single digits.  That's probably a lot of the institutional money placing itself visibly on the sideline in order to watch this play out a little while longer.  As MtGox builds confidence around improving their backend, that money will feel more confident about getting back in the pool.   It'll probably take some time, but I think there's a good chance this gets repaired.

When you say support do you mean large buy walls at $10?

[RodeoX]

I remember seeing BTC go from $32 to like $2, then back up. That is not weird when you consider the liquidity of bitcoin and the total lack of regulation. Unlike a stock, anyone can completely divest in seconds and the fundamentals don't change. If it were a stock then the lack of incoming funds would leave the company insolvent and the stock would become worthless. Bitcoin is more like gold. It doesn't matter what the price is, it could always go up or down.   

[BitSlut69]

As long as that $300 isn't going to cause you or your family any hardship, just keep it invested long term. In a year or two it may double or triple. Nobody knows what will happen for sure, but $300 isn't usually life and death and there is a potential for BTC to get huge at some point.

Long term BTC is basically going to go to $1000 or more, or to $0. For $300 I would just wait and see.

[SlipperySlope]

You left out the choice of selling at market now, then buying back more coins cheaper in three months.

[casascius]

You left out the choice of selling at market now, then buying back more coins cheaper in three months.

That's a gamble.  May as well just bet roulette on red or black and know the outcome today.

[meangreen]

if you liked it at $150 you have to love it now at $60. buy more and cost average your price down. if you have $300 in and buy another $300 you will have 7 coins @ $85 cost average. then wait to sell.

[delgas]

Caveat Emptor.

Even at $70 per BTC, there are still an incredible number of coins out there that are looking at a 10x - 20x gain on paper, or more.  If the market continues it's downward trend, expect to see some of the remaining coins that were purchased for $4 - $8 start to come out of the system, which in turn exerts even more downward pressure on the market.

I personally think long term bitcoin is a force to reckon with.  Bitcoin's time will come, it's just not here yet.  As transactional velocity, BTC business ventures, and overall infrastructure build out picks up steam over the next 12 - 18 months, the real benefit of bitcoin will be realized.  Namely that it's a cheaper, easier, more efficient way to conduct online commerce, exchange funds between individuals, etc.

For those that are currently holding a lot of paper profit and are interested in divesting some of your coin, I might suggest spending some of it instead of exchanging it out.  Build yourself a new gaming rig at bitcoinstore, for example.  Do what you can to keep the bitcoin ecosystem growing and thriving.  Long term, spending bitcoin on goods and services will do more to your bottom line than exchanging it out for fiat.

[AlexM]

I bought in at £11 during the first bubble I held out until bubble 2. Where I cashed out my initial fiat holdings and a small profit between £30-£100 per coin. I still have 3/4 of my coins left but I can now sell at any time for a profit (I wont sell until they are above $750 though). If the price goes much lower I will be spending another £1000 to increase my holdings.

If I were you I would be snapping up 1-2 coins per week whilst the price is sub $100 or sub $50 or sub $25  etc. When the price starts rising look to sell out at a profit whilst keeping some coins.

Look to take profits once we have at least doubled our previous high. Maybe it is in 10 weeks time, maybe in 10 years time, but Im sure we will get there (possibly via $20 possibly not!)

[fluidjax]

If you sell now, you are going to be buying near the top and selling possibly selling near the bottom, the worst case. As its a small amount, I'd hold and enjoy the ride. Little to lose, plenty to gain.

[Kupsi]

It's beginning to look like $50 is the bottom, folks.

WOW!!!  

(But I agree)