The panic seller irony

[bitbunnny]

To my opinion those panic sellers are mainly unexperienced users who react on any price change without thinking, purely emotional and without clue what they are doing. People who are few years with Bitcoin shouldn't make such mistakes anymore and should know better how Bitcoin is functioning.

[alyssa85]

I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.

Well, they sold today at at the dip near the $4000 double bottom.

The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.

If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.

They were probably influenced by the press saying bitcoin was a bubble because it went up too fast.

Did they manage to sell for more than they bought? If so, there's no problem as at least they're happy with their profit. It's the ones who panic sell at a loss I feel sorry for.

[kamikadze69]

I've heard panic sell repeatedly, most of them received considerable losses. I think we should make a wiser decision in the future.

[triads]

It's the classic interplay between fear and greed with most casual investors.
They aren't buying BTC because they understand and believe in its
potential. They are buying out of FOMO and greed. Naturally then, the only
thing that will trigger an exit is sufficient fear. And fear is greatest on the
deepest dips.

[Erowind]

So why are people panic selling this time exactly? If this keeps the market down for a while it will just give me better entry points come November.

[investeerder]

I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.

Well, they sold today at at the dip near the $4000 double bottom.

The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.

If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.

They were probably influenced by the press saying bitcoin was a bubble because it went up too fast.

Did they manage to sell for more than they bought? If so, there's no problem as at least they're happy with their profit. It's the ones who panic sell at a loss I feel sorry for.

Press release really affect the mindset of those mid believers since they can scare them out and throw there balance off and its currently its really happening now and lets hope that the down price will not go to the deepest so that we will not be hurt so bad if we see some great fall down happening on bitcoins for this time.

[Xypherian]

Many people do not know that trading is a game of skills and most times jump into it without thinking that it takes them time to make money from their day job. Some even involved in hard labour and most times lose those money with a fantasy that there are going to make serious profit from buy coins at the wrong time. You should buy when bitcoin is low and sell when it is high but most traders do the opposite and lose their hard earned money.

The root of this is the same BTC users. LOTS of them just promote the technology as a "get quick rich scheme". And since it can actually be profitable, newbies only get because of the financial benefit, without understanding the true power that is behind the technology.

[dart vader]

Money and emotions go hand in hand. There are many bitcoin investors who don't really understand Bitcoin. They think it as a fast way to grow money which is true, but don't trust its potential. Whenever Bitcoin experiences a dip, such investors get scared of losing their money and end up selling at loss or at low price. After that when they realize their mistake, then as usual they start blaming others. A natural human behavior of blaming others for your loss.

[kiloiko]

I know several newer buyers who are just caught off guard by the size of the volatility swings. The charts are deceptive... everything scales to the last X months or X days, so it looks similar to a stock chart.

But then they buy and discover that 'dip' which would be 1% on a stock is actually 15% on BTC.  15% in a week is a lot. Nothing in commodities or equities moves like that.  (And if it did, many would hit circuit breakers.)  School of hard knocks, I guess.

You are right. The only investors who cannot control their emotions and get panic at the time of dumping are none other than the ones who are new to this field. At the start, almost all the investors except few pass through these circumstances and make wrong decisions. It is just matter of time and experience which teach them everything.

[Yasirmrd]

According to the news a bitcoin exchange close its services and other exchanges say they do not receive any instructions from central bank of china and they are working normally but the rumors push the investors to sell bitcoin which leads bitcoin prices to go down. I think if the investors study and watch the market properly the prices will go up.

[criz2fer]

I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.

Well, they sold today at at the dip near the $4000 double bottom.

The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.

If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.

Not all of is here are not aware in trading specially the newbies. Some newbies try trading first even without knowledge. This newbies invest in bitcoin and panic sell. How can we assure that we can educate this newbies to have a potential in the cryptobusiness? Hope we have a developement in this forum that may require us to rank and trade by our knowledge to lessen more panic in the future.

[pbody]

It takes practice to not panic. As Warren Buffet says the best strategy is to buy and walk away never looking at it then come back at a later date.

However if you understand the market and what is actually happening you would not be panicking. BTC is just fixing its gap right now. It HAS to go to $3k to fix the gap and it ALWAYS has done so(fixed the gap) to date. Thats why every analyst is calling $3k and some are saying there is a 100% chance it will go to $3k. It has to.

[qwertyup23]

I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.

Well, they sold today at at the dip near the $4000 double bottom.

The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.

If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.

It really depends on what your perception toward bitcoin is. If you see bitcoin as investments only for short-term, then withdrawing them right now might be the better choice to prevent any further damage from happening. But this may result on a loss on your part due to the initial investment that you made might be higher compared to your pay-out roll. On the other hand, if you treat your bitcoins as long-term investments, then withdrawing them on a later date might yield you income higher than your initial investments. This now may result on a profit greater than early-investments due to the returns made. Both investments requires determination, patience and risk-taking to properly profit from your money.

[super5star]

I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.

Well, they sold today at at the dip near the $4000 double bottom.

The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.

If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.

They were probably influenced by the press saying bitcoin was a bubble because it went up too fast.

Did they manage to sell for more than they bought? If so, there's no problem as at least they're happy with their profit. It's the ones who panic sell at a loss I feel sorry for.

Press release really affect the mindset of those mid believers since they can scare them out and throw there balance off and its currently its really happening now and lets hope that the down price will not go to the deepest so that we will not be hurt so bad if we see some great fall down happening on bitcoins for this time.

Definitely! I think that this mistake is mostly done by only the new investors. The time they see the prices going down, they feel panic and make such kind of decisions which result in loss. I think if you want to achieve something big, then you need to learn how to be patient in your life. Only then you can get something fruitful.

[Eternu]

Well yes, the wales as you call them will always profit from panic sale. And to be honest i agree with what you think, but i must say that that panic sale will never stop. It will happen from time to time, over and over again. It is in peoples nature to be scared from things they do not know. But lets hope that in time more and more people will get to know bitcoin a bit more, so that panic sale would be smaller.

[Genamant]

they have to experience it to know what to do next time

[panju1]

they have to experience it to know what to do next time

Smart people learn from other people's mistakes, they don't have to make their own. In any case a person who panic sells when the price drops from $1000 to $500 will also sell when the price drops from $10k to $5k. Some things don't change.

[lordquanta]

they have to experience it to know what to do next time

Smart people learn from other people's mistakes, they don't have to make their own. In any case a person who panic sells when the price drops from $1000 to $500 will also sell when the price drops from $10k to $5k. Some things don't change.

Correct. Smart people will try to take advantage of price fall as well. They may sell bitcoins when price is just started falling (more than 7% to 8%) then when their anticipated lower limit is reached buy again this time more coins at same value. Of course this all depends on how good one is in trading, market analysis and luck.
HODL is anytime great strategy for withstanding against loss. Its benefits are long term. HODL is not for panic-sellers at all.

[2hot2handle]

To my opinion those panic sellers are mainly unexperienced users who react on any price change without thinking, purely emotional and without clue what they are doing. People who are few years with Bitcoin shouldn't make such mistakes anymore and should know better how Bitcoin is functioning.

I've been with bitcoin for at least 4 months and I still consider myself as a newbie in crypto but I never panic when bitcoin price goes down maybe because I kept reading topics here in the forum about the progress of bitcoin price that is why I became confident about it. That's why I believe with what you say that those people who panic sells doesn't know anything about bitcoin and only want to make money. Its hard to make money with something you know nothing about because one wrong move you will lose everything that you have.

[Kotone]

I know some coworkers that sold BTC today, they are real casuals, they got into BTC because they heard it went up a lot, they don't know even to set a local wallet so they store their coins on Coinbase or wherever the fuck they buy at.

Well, they sold today at at the dip near the $4000 double bottom.

The irony is, these casuals are the ones that are always complaining about how it's unfair that BTC is distributed in the hands of few whales, YET, they are the ones that constantly panicsell and give their cheap BTC back to these same hands they are complaining about, because guess who is profiting the most on these dumps: whales. They buy lots of cheap BTC.

If you want whales to stop having so much BTC, don't panic sell or you will keep feeding them. Just focus on your own portfolio and keep stacking BTC on the dips. In the long term, we will win.

We can't really fault them, as they have really folded into pressure that BtC is declining. Yes it is irritable or burdensome that they complain but in actually they are the one that are doing what they are complaining about but what actually stands out is that it is them the reason that btc declines