Sold my Bitcoin today

[BTCMILLIONAIRE]

Just because it worked out in the past doesn't mean it will keep working out in the future. And it definitely wasn't obvious in the past either. Don't get me wrong, I'm heavily pro crypto, but it's still one of the riskiest assets that currently exist.

And altcoins carrying higher risks (which is only partially true) is rewarded with greater upside potential. It balances out.

And just because everyone knows about only Bitcoin today, doesn't mean this can't change very quickly in the future.

In the near future we will be seeing more and more serious and successful companies that started up through the blockchain, regardless of whether or not they directly implement any of its technology in their business. And people will start gravitating towards them in greater numbers as they start proving successful. This will inevitably get to a point where Bitcoin is left largely untouched by success stories in the altcoin scene, unless Bitcoin is directly required to invest in said companies.
So far it doesn't seem like Bitcoin will lose its position as the "crypto gatekeeper", which means that it will keep benefiting from altcoin investors. But that could change quite rapidly in this market, which makes it important to hedge against that very real risk, even it's not extremely large.

I'm not saying the past will dictate the future. But it is clear that bitcoin has always been the safe bet in crypto, while altcoins are an absolute crapshoot. The altcoin market is MUCH riskier than bitcoin. I ain't saying its bad to invest in altcoins, because with that much higher risk comes possible much higher rewards. I'm just pointing out that holding bitcoin is well worth it if someone wants to make a lot of money without carrying the risk of several of their altcoins plummeting downward because that is just the altcoin market. With altcoins it's mostly just a guessing game. Until there are actual successful companies built off a coin or build around a coin, choosing altcoins is a lot of luck and a little research.

Anyway, no need to continue this debate forever haha. Yeah more gains could be gotten with altcoins, but altcoins are absolutely riskier than bitcoin. And while you get the security of one investment not being able to tank your portfolio, lets be real, when bitcoin goes down the whole market goes down, meaning that bitcoin is the safe bet among cryptos, and has insane growth compared to ordinary investments. So in no world would holding bitcoin not be worth it when in general it doubles your money every few months.

Bitcoin never has been and never will be a "safe" bet. And I highly recommend that you read my previous post more carefully, because I've gone into detail about how altcoins can be safer than Bitcoin itself.

[drachman]

Yes, I did say that blindly holding just Bitcoin is not worth it. It's always a bad move to move into an asset class without diversifying that part of your portfolio, unless you literally don't care about potential losses or missing out on profits elsewhere.

Blindly holding Bitcoin and a couple of other things certainly isn't for everyone but it has served me extremely well so far.

The thing that separates this from almost every other 'investment' is the absolute unknowability of its eventual fate. The people who end up penniless and insane via crypto are the ones who spout the most confident predictions and opinions which almost always are total clueless shit.

I was already diversified before I got in and there's certainly not been any worthwhile profit elsewhere that I've missed. That's partially down to markets but also my own indifference to investigating other things.

Well, holding is a strategy that is known to work not only in bitcoin but in the stock market as well, someone holding Google stocks from the beginning has made a lot of profits, obviously if someone bought stocks of a useless company holding will be counterproductive.

[Kurokonobasuke]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??
Edit: If you are wondering at what price, i sold at $5720. I bought Litecoin with ithat money.

It is not a bad decision since you ar3 already satisfied with its value that time. it is just that you missed the opportunity to earn more profit since its market value as of this moment is already 400$ and is expect3d.to be more exp3nsive after the hardfork this month since its value is continuously increasing.

[Bodmas785]

already you have been lost a big amount of profit.
Hope you will be more careful after this mistake. 

[winterland]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??
Edit: If you are wondering at what price, i sold at $5720. I bought Litecoin with ithat money.

I think you are going to need to hold your LTC for a very long time, bitcoin has now grow a lot and with the upcoming fork I think things are not going to change which means you are going to need to wait for the day the altcoin market wakes up. 

[Darmold]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??
Edit: If you are wondering at what price, i sold at $5720. I bought Litecoin with ithat money.

It is hard to stay realistic.
Drop to 5000 is a lower limit.
But summer is over it will rise rather than drop.

[Gaff]

Just because it worked out in the past doesn't mean it will keep working out in the future. And it definitely wasn't obvious in the past either. Don't get me wrong, I'm heavily pro crypto, but it's still one of the riskiest assets that currently exist.

And altcoins carrying higher risks (which is only partially true) is rewarded with greater upside potential. It balances out.

And just because everyone knows about only Bitcoin today, doesn't mean this can't change very quickly in the future.

In the near future we will be seeing more and more serious and successful companies that started up through the blockchain, regardless of whether or not they directly implement any of its technology in their business. And people will start gravitating towards them in greater numbers as they start proving successful. This will inevitably get to a point where Bitcoin is left largely untouched by success stories in the altcoin scene, unless Bitcoin is directly required to invest in said companies.
So far it doesn't seem like Bitcoin will lose its position as the "crypto gatekeeper", which means that it will keep benefiting from altcoin investors. But that could change quite rapidly in this market, which makes it important to hedge against that very real risk, even it's not extremely large.

I'm not saying the past will dictate the future. But it is clear that bitcoin has always been the safe bet in crypto, while altcoins are an absolute crapshoot. The altcoin market is MUCH riskier than bitcoin. I ain't saying its bad to invest in altcoins, because with that much higher risk comes possible much higher rewards. I'm just pointing out that holding bitcoin is well worth it if someone wants to make a lot of money without carrying the risk of several of their altcoins plummeting downward because that is just the altcoin market. With altcoins it's mostly just a guessing game. Until there are actual successful companies built off a coin or build around a coin, choosing altcoins is a lot of luck and a little research.

Anyway, no need to continue this debate forever haha. Yeah more gains could be gotten with altcoins, but altcoins are absolutely riskier than bitcoin. And while you get the security of one investment not being able to tank your portfolio, lets be real, when bitcoin goes down the whole market goes down, meaning that bitcoin is the safe bet among cryptos, and has insane growth compared to ordinary investments. So in no world would holding bitcoin not be worth it when in general it doubles your money every few months.

I guess if they do invest in short term then it's better to sell it today or in the next few months to go. Doubling your money isn't that fast and my recommendations will be invest with a vision for long term, because you cannot have to double it if you're a quick seller; maybe you can have the profit quickly but not as profitable if you choose long time investments. As of today's growing value it's not a good idea to sell it quickly at earlier time.

[cybersofts]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??

That is a risky play, not many people are selling since they want to obtain free bitcoin gold, so I think you are going to need to wait for some time, because those that get bitcoin gold are going to sell it and get bitcoin with it and that is going to push the price up once again.

I'm supporting your decision. But only if you plan to buy the same amount of coins on lower price. Or even taking 'free' coins instead of 'free' fiat.
Now the price seems to be at it's pick point and I don't believe to reach another all time high soon. Or at least in next 2-3 months.

I think selling bitcoin is not advisable in the current situation because the bitcoin value is growing almost everyday. So, why do you want to sell your bitcoins? The problem with selling your bitcoins now - if you sell it now you won't be able to buy the same equivalent when you want to buy. It's better to hold on your bitcoins.

[Hallmader]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??
Edit: If you are wondering at what price, i sold at $5720. I bought Litecoin with ithat money.

And now, have you taken a look at the recent price of Bitcoin? My friend, it has happened several times before to a great deal of people. When Bitcoin finally hit $100, a big part of the people are saying it is reaching too high and it is selling time because it might burst soon. And a few more months later, they began to suffer with regrets because Bitcoin continued to shoot past $500. We have big goodbye to $5720 because we are here at $7,000 plus. 

[orions.belt19]

It’s going to be hard to say. I mean, at anytime really the price could fall. But by judging the current situation of bitcoin and its trend, I don’t think it would go that way. A lot of other users are positive as well that bitcoin would just continue to rise. There would eventually be some price corrections because the increase has been going to fast and it is really high so perhaps that would be a good chance for you to buy back. There has been positive news for bitcoin nowadays so I believe that the price will just continue to rise.

[john2231]

Looks like the price of bitcoin is getting decrease and lots of people are starting to dump their bitcoin because the segwit2x will nearly to done..
Since the price of bitcoin is high they are selling bitcoin today and get the benefits of the price today.. because there is possibility that there is panic selling after the fork..
So if you holding bitcoin right now better to sell or wait for the fork to done and sell it and get your fork coins to sell to market..

[CyberKuro]

Unfortunately bitcoin keep increasing instead of get corrected after Op decide to sell, he must be regret it. Bitcoin surprisingly gain more value after reach $6000 and be able to reach over $7600. However, current price seems stable above $7k levels, fluctuate and decline to $7100 right now. I don't think this happen because 2x hard fork, it's simply people cash out after bitcoin reach the highest peak. But, bitcoin may rise over $7500 again in this week due to people want to get more b2x if community decide not to implement segwit2x which created new altcoin.

[nodelover]

Not a bad plan, but be cautious when the price drops further and get the timing right.

[cryptojac17]

Looks like the price of bitcoin is getting decrease and lots of people are starting to dump their bitcoin because the segwit2x will nearly to done..
Since the price of bitcoin is high they are selling bitcoin today and get the benefits of the price today.. because there is possibility that there is panic selling after the fork..
So if you holding bitcoin right now better to sell or wait for the fork to done and sell it and get your fork coins to sell to market..

The possibility that many will sell there bitcoin to take advantage of the price and also due to upcoming segwit2X in the event like this will also likely to create new opportunities because if the price of bitcoin
Will decrease it will give chance for the others who wanted to buy Bitcoin in lower price, because in my speculation this only the time that might Bitcoin would decrease the price and if all this things be done the BTC price will spike again,

[whyrqa]

Looks like the price of bitcoin is getting decrease and lots of people are starting to dump their bitcoin because the segwit2x will nearly to done..
Since the price of bitcoin is high they are selling bitcoin today and get the benefits of the price today.. because there is possibility that there is panic selling after the fork..
So if you holding bitcoin right now better to sell or wait for the fork to done and sell it and get your fork coins to sell to market..

The possibility that many will sell there bitcoin to take advantage of the price and also due to upcoming segwit2X in the event like this will also likely to create new opportunities because if the price of bitcoin
Will decrease it will give chance for the others who wanted to buy Bitcoin in lower price, because in my speculation this only the time that might Bitcoin would decrease the price and if all this things be done the BTC price will spike again,

It seems to me that you do not need to pay attention to this and wait for another plug and only then you can double some of your investments. The fact is that the price for Bitcoin will still go up, and the next coin is a double, will also give some revenue.

[BTCMILLIONAIRE]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??

That is a risky play, not many people are selling since they want to obtain free bitcoin gold, so I think you are going to need to wait for some time, because those that get bitcoin gold are going to sell it and get bitcoin with it and that is going to push the price up once again.

I'm supporting your decision. But only if you plan to buy the same amount of coins on lower price. Or even taking 'free' coins instead of 'free' fiat.
Now the price seems to be at it's pick point and I don't believe to reach another all time high soon. Or at least in next 2-3 months.

I think selling bitcoin is not advisable in the current situation because the bitcoin value is growing almost everyday. So, why do you want to sell your bitcoins? The problem with selling your bitcoins now - if you sell it now you won't be able to buy the same equivalent when you want to buy. It's better to hold on your bitcoins.

The point is simply that nobody knows how long it will keep climbing before it corrects. Trying to catch the ups and downs is a very risky game though.

[taktik]

I sold my bitcoin today. I think the price jumped too much too fast. My opinion is that it will drop below 5,000 soon and in that case I will buy back again because i expect bitcoin to increase significantly in the long term.
What do you think??

That is a risky play, not many people are selling since they want to obtain free bitcoin gold, so I think you are going to need to wait for some time, because those that get bitcoin gold are going to sell it and get bitcoin with it and that is going to push the price up once again.

I'm supporting your decision. But only if you plan to buy the same amount of coins on lower price. Or even taking 'free' coins instead of 'free' fiat.
Now the price seems to be at it's pick point and I don't believe to reach another all time high soon. Or at least in next 2-3 months.

I think selling bitcoin is not advisable in the current situation because the bitcoin value is growing almost everyday. So, why do you want to sell your bitcoins? The problem with selling your bitcoins now - if you sell it now you won't be able to buy the same equivalent when you want to buy. It's better to hold on your bitcoins.

The point is simply that nobody knows how long it will keep climbing before it corrects. Trying to catch the ups and downs is a very risky game though.

of course for investors This is a very difficult moment and I think that there are difficult moments when they buy at a higher price and the price falls very low. Therefore, this user is more or less profitable, who earn Bitcoin and sells it right away at a good price.