This Bubble Didn't Last Long, Time To Sell In Panic

[digaran]

Price was about to reach $3000 but suddenly just like when it started to rise from $1200 now has started to fall from $2800.
If you don't adapt with the market you'll for sure lose, when market is moving upwards you should go with it but now market showing the signs of going down and we should all go with it, only the ones who were meant to hodl for long will continue to do so because these prices is nothing for them but the middle class Bitcoiners like me and most of the people here can not sustain such drops, so start selling to avoid more suffering.

[European Central Bank]

that's shit 'advice'.

if people can't take it they shouldn't be anywhere near bitcoin. no one can time this. work out an entrance and an exit and wait around until you can execute it. if you don't you'll wind up with a bunch less money than before.

[leowonderful]

Bitcoin has variance in terms of pricing and if you can't deal with it, don't use it. All coins and fiat currencies have changes in price, it's not only a Bitcoin thing. Selling during drops is even worse considering you'll probably be seeing a price higher than the previous day with these current trends. For the past several days the trend has been rise, drop, and rise, rinse and repeat. Just wait a little bit, patience goes a long way.

[Abricotier]

Wow ! I have to confess that it has been hard ! We lost about 300$ in the matter of 3 hours ! I wonder now if it will recover or not.

[Zepher]

Wow ! I have to confess that it has been hard ! We lost about 300$ in the matter of 3 hours ! I wonder now if it will recover or not.

But what was the price yesterday?... We are back where we were last night. If you cannot stomach these ups and downs, you shouldn't be involved with Crypto to begin with. HODL. You will regret panic selling.

[cryptodontus]

Wow ! I have to confess that it has been hard ! We lost about 300$ in the matter of 3 hours ! I wonder now if it will recover or not.

so the price can go up 20% one day but if it drops 14% overnight it's over? sounds like we're still up 6% to me . . .

[BitHodler]

It's actually very simple, in the easy way of the price going up hundreds of dollars in a quick fashion, it can lose a few hundred dollars in the same way.

Important is where the price will settle at this point, since this might be the correction that a lot people were waiting for.

I think if we manage to maintain the $2000 mark for a while, that we have done well. If you're a trader, take advantage of this correction, and if you're a hodler just like me, keep hodling!

[Asrael999]

Wow ! I have to confess that it has been hard ! We lost about 300$ in the matter of 3 hours ! I wonder now if it will recover or not.

Well we had gained about $300 in the previous three hours so.....

[alyssa85]

that's shit 'advice'.

if people can't take it they shouldn't be anywhere near bitcoin. no one can time this. work out an entrance and an exit and wait around until you can execute it. if you don't you'll wind up with a bunch less money than before.

Is it really shit advice? Selling at resistance and buying back at support has proved very profitable over the last three years. Just saying....

[European Central Bank]

Is it really shit advice? Selling at resistance and buying back at support has proved very profitable over the last three years. Just saying....

yes, because newcomers won't know who to listen to or what to believe. they'll walk straight into wherever the professional traders want them to.

you see the same old thing every day on r/bitcoin and elsewhere. people try to badly time the market and end up poorer. if you know more then great. people who don't have years of experience should take the long road instead by cost averaging and selling when they reach their target.

i am absolutely sure there are people like this who bought at $2700 and will sell when it gets to $1500 again. they shouldn't have gotten involved at either price.

[cryptodontus]

Is it really shit advice? Selling at resistance and buying back at support has proved very profitable over the last three years. Just saying....

yes, because newcomers won't know who to listen to or what to believe. they'll walk straight into wherever the professional traders want them to.

you see the same old thing every day on r/bitcoin and elsewhere. people try to badly time the market and end up poorer. if you know more then great. people who don't have years of experience should take the long road instead.

I think another important ingredient is being a crackhead, or polyphasic sleeping. My problem is I have two (other) jobs, so I have to sleep. That means I miss the critical signs of an impending correction.

[Nagadota]

Is it really shit advice? Selling at resistance and buying back at support has proved very profitable over the last three years. Just saying....

yes, because newcomers won't know who to listen to or what to believe. they'll walk straight into wherever the professional traders want them to.

you see the same old thing every day on r/bitcoin and elsewhere. people try to badly time the market and end up poorer. if you know more then great. people who don't have years of experience should take the long road instead by cost averaging and selling when they reach their target.

i am absolutely sure there are people like this who bought at $2700 and will sell when it gets to $1500 again. they shouldn't have gotten involved at either price.

It's worse than that, the advice is basically telling people to follow the market.  If information or particular speculation is already in the market, all you're doing is giving coins to someone who's busy buying low.  It's doing the opposite of "buy low, sell high", and the OP is exactly where good traders are getting their money from.

If the OP is really that bad at trading, he shouldn't do it.  Just buy and spend/hodl.

[BitFinnese]

I do not think it is useful to sell in panic.  It will incur more loses than gain.  Never ever involve emotion when you are trading, your logic will malfunction that way.  Stay calm and study the market.  As the statistics show, we are still up by some % than yesterday.  So I guess we are still in an uptrend path.

[jc89]

Advising to sell the user's bitcoins just because of the sudden drop in price is a wrong advice. Going along with your advice will just make the problem worse. Well it is not a problem, it is just a happening. Advising to sell will just make the price go even lower. I think that you are just toying with others so that if they did panic sell and the price went even lower, you will buy more bitcoin at the lower price. Giving crappy advice to others just to have the benefit just to yourself, damn.

[chaser15]

Price was about to reach $3000 but suddenly just like when it started to rise from $1200 now has started to fall from $2800.
If you don't adapt with the market you'll for sure lose, when market is moving upwards you should go with it but now market showing the signs of going down and we should all go with it, only the ones who were meant to hodl for long will continue to do so because these prices is nothing for them but the middle class Bitcoiners like me and most of the people here can not sustain such drops, so start selling to avoid more suffering.

With just a small drop to my own view you considered that as a suffering? Im an average bitcoiner but Im not looking on to that. The price drop earlier is just a normal thing. Look at the brighter side prior to that drop and see how much it was increase during it's hype and now by looking at the current price rate as of Im typing this, still on around $2,500.

With the hype like this, it will increase more your faith to bitcoin that the price will increase more. Why become a member of panic hands with the times like this? What done is done hope you enjoy the profit the moment you sold.

[ktabb]

Price was about to reach $3000 but suddenly just like when it started to rise from $1200 now has started to fall from $2800.
If you don't adapt with the market you'll for sure lose, when market is moving upwards you should go with it but now market showing the signs of going down and we should all go with it, only the ones who were meant to hodl for long will continue to do so because these prices is nothing for them but the middle class Bitcoiners like me and most of the people here can not sustain such drops, so start selling to avoid more suffering.

The bubble is not over at all. People quickly forget how massive the 2013 bubble was. If the peak were $2800 then this would only be like 20% the size of the 2013 bubble. It will go to at least $4000 but not above $8000. I think $5000 with a market cap just over $100 billion will be where resistance is strong enough to send it snowballing downward.

[btc_angela]

LOL. Why panic sell? I think we are all matured enough not to be carried away and just dump your bitcoin if the price goes down. Maybe this is just a correction price that most people want to see so that they can buy bitcoins again. But it is still good to hold it still. This is just a normal dip we are seeing and by the coming weeks the price will rise again.

[ktabb]

LOL. Why panic sell? I think we are all matured enough not to be carried away and just dump your bitcoin if the price goes down. Maybe this is just a correction price that most people want to see so that they can buy bitcoins again. But it is still good to hold it still. This is just a normal dip we are seeing and by the coming weeks the price will rise again.

You are right that this is just a dip, but don't make the mistake of thinking that people won't panic sell. People of all ages and maturity levels panic sell all kinds of assets all the time. It's basic investor psychology. Bubbles happen constantly and they almost always pop. This rise in bitcoin price has all the tell-tale signs of a bubble. That being said, you are right that this case is just a dip.

[freebutcaged]

Not a bubble to begin with, you tell people to buy and hold because price will increase and now telling us to sell in panic?

Only miners should sell because they need to cover their mining costs and if anyone buys any amount shouldn't sell with loss.

If price wasn't fluctuating like this then we wouldn't be calling it a decentralized crypto currency, we could call it Tether.

[1Referee]

Price was about to reach $3000 but suddenly just like when it started to rise from $1200 now has started to fall from $2800.
If you don't adapt with the market you'll for sure lose, when market is moving upwards you should go with it but now market showing the signs of going down and we should all go with it, only the ones who were meant to hodl for long will continue to do so because these prices is nothing for them but the middle class Bitcoiners like me and most of the people here can not sustain such drops, so start selling to avoid more suffering.

Seriously, you are one of those that change their mood based on how Bitcoin is moving. If the market is heading up nicely, as has been the case in last weeks, you are all positive, but as soon as there is a dump happening (which in this case is completely normal), you directly change your mindset negatively. Important to know is that you only lose when you sell at a loss. Also, if you can't handle the pressure of the market, you should likely choose to avoid making short term investments.