Sold my Bitcoin today

[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??
Edit: If you are wondering at what price, i sold at $5720. I bought Litecoin with ithat money.

you are right and wrong both.If you say long term then bit coin eventually will be at 7000usd in dec.
So holding is a good idea.
And you are right because yes as soon as almost all the BTG claimed the price will be shoot down to 5000usd and you can buy again.
So yes you made a perfect decision today.
but in my case i have bought it at 5800usd mark.so sadly i have to wait.
Have a great trading mate...

Of course Bitcoin will go up to $7000, but altcoins will increase far more than ~15% in the same time. So if you're a young and/or aggressive investor you're probably better off with altcoins.

Only conservative investors and people with very large crypto portfolios should really bother with holding Bitcoins in my opinion.

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[bezikazi]

It is mistake thats what it is, but if you short term trade, it is good IMO

[BTCMILLIONAIRE]

It is mistake thats what it is, but if you short term trade, it is good IMO

If he sold his Bitcoins for altcoins it would've been far from a mistake, since he would've gained a lot more than Bitcoin did by now.

[Qartersa]

Well, that is your strategy. If it were me, I would not sell my Bitcoins all at once. It is because I identify myself as a moderate risk taker, and so I make sure I scatter my investments on the pretext that I will earn passively from various channels.

In regard your prediction, I think that is possible so you better have money to buy Bitcoins when that time comes. Otherwise, you will lose an opportunity that may be hard to grab again.

[drachman]

Yeah I wouldn't waste my time with FOMO coins that don't have anything of significance to bring to the blockchain table. Complete and utter waste of time. I wish it was possible to collect data on how many people burn themselves by following pointless trends in crypto.

We don’t have data about it especially if we consider the fact that many persons are going to hide their losses from their family and friends, but even if we do not have that we can easily guess most people which follow trends in crypto are going to lose money since they are not investing in the fundamentals of the coin but in the hype.

[rhamzter]

Yeah I wouldn't waste my time with FOMO coins that don't have anything of significance to bring to the blockchain table. Complete and utter waste of time. I wish it was possible to collect data on how many people burn themselves by following pointless trends in crypto.

We don’t have data about it especially if we consider the fact that many persons are going to hide their losses from their family and friends, but even if we do not have that we can easily guess most people which follow trends in crypto are going to lose money since they are not investing in the fundamentals of the coin but in the hype.

For myself I think this is not the right time to sell bitcoin, because bitcoin value now was steady and a little bit movement only in the market.
Maybe we need to wait for the meantime before to sell it, because I know that some of this day bitcoin value were rapidly increase who knows maybe sooner or later it was fall again into $6000.

[ihsanskanzaone]

I think it's best to sell because bitcoin value is now the highest if rupiakan reach Rp.80.000.000 where this becomes the highest bitcoin value. but I do not know yet whether the bitcoin price will continue to rise again or even go down. but because bitcoin prices are now again above the top you should sell because it is in the sure you will get a profit.

[TravelMug]

Yeah I wouldn't waste my time with FOMO coins that don't have anything of significance to bring to the blockchain table. Complete and utter waste of time. I wish it was possible to collect data on how many people burn themselves by following pointless trends in crypto.

We don’t have data about it especially if we consider the fact that many persons are going to hide their losses from their family and friends, but even if we do not have that we can easily guess most people which follow trends in crypto are going to lose money since they are not investing in the fundamentals of the coin but in the hype.

For myself I think this is not the right time to sell bitcoin, because bitcoin value now was steady and a little bit movement only in the market.
Maybe we need to wait for the meantime before to sell it, because I know that some of this day bitcoin value were rapidly increase who knows maybe sooner or later it was fall again into $6000.

Well he based his assumption that bitcoin price will go down that's why he decided to sold off his stash. We can't blame him for doing that, however, most of us believed that hodling is really the option for us. No need to worry about bitcoin crashing because of FUD. We are matured already and so does the market. If you still believed in FUD then its gonna be your lost and their gain. We know what are their intentions of spreading if, so it you listen to them, they won already. So look at the price now, it is trading at $5700 although the price did dip, it is still considered a good price if you gonna ask me.

[logicgate]

I think it's best to sell because bitcoin value is now the highest if rupiakan reach Rp.80.000.000 where this becomes the highest bitcoin value. but I do not know yet whether the bitcoin price will continue to rise again or even go down. but because bitcoin prices are now again above the top you should sell because it is in the sure you will get a profit.

According to me he need to not sell his Bitcoin because the bitcoin price are increasing now and he or a person hold their Bitcoin for more two or three months I hope he gain a very high profit from its. Moreover, you says that you didn't know about the Bitcoin price that it goes to increase or decrease, but to me there is no doubt about the Bitcoin price it goes to more increasing, I think at the end of the year or the begging of 2018 Bitcoin cross to 10,000$.

[BTCMILLIONAIRE]

Yeah I wouldn't waste my time with FOMO coins that don't have anything of significance to bring to the blockchain table. Complete and utter waste of time. I wish it was possible to collect data on how many people burn themselves by following pointless trends in crypto.

We don’t have data about it especially if we consider the fact that many persons are going to hide their losses from their family and friends, but even if we do not have that we can easily guess most people which follow trends in crypto are going to lose money since they are not investing in the fundamentals of the coin but in the hype.

For myself I think this is not the right time to sell bitcoin, because bitcoin value now was steady and a little bit movement only in the market.
Maybe we need to wait for the meantime before to sell it, because I know that some of this day bitcoin value were rapidly increase who knows maybe sooner or later it was fall again into $6000.

Well he based his assumption that bitcoin price will go down that's why he decided to sold off his stash. We can't blame him for doing that, however, most of us believed that hodling is really the option for us. No need to worry about bitcoin crashing because of FUD. We are matured already and so does the market. If you still believed in FUD then its gonna be your lost and their gain. We know what are their intentions of spreading if, so it you listen to them, they won already. So look at the price now, it is trading at $5700 although the price did dip, it is still considered a good price if you gonna ask me.

If he moved into altcoins he might've gotten far greater profits than by sticking it out with Bitcoin though. Bitcoin Gold is just completely worthless, so gambling on it is pointless. Real altcoins have better chances of making profits than taking the Bitcoin rise + Bitcoin Gold.

[thesosorr]

Selling bitcoin we are holding now isn't wrong decision, let alone with the aim to gain more profit by buying it on altcoin. Of course it's a smart way to make our investment grow even faster. I just sell a bit of bitcoin and buy some Strat & Waves.

[thecodebear]

I sold 1/4th of my bitcoins today as price was too good to me and I thought that in coming days price may drop so sold some coins and gain best profits on my investments and now hoping for the price to go lower in coming days so that I could buy some bitcoins at lower price as price will surely go below $6k in coming days.

The price should go below 6k easily since it was the first time it went over that recently. But given the kind of rise we are seeing, may want to hold off till $20,000 or even $1,00,000 before selling. Bitcoin is just starting to gain popularity in the investment world. Lots more price increase to follow given the limited supply.

There are alts that will climb faster than Bitcoin. It just isn't easy to identify them. But blindly holding Bitcoin until a given target isn't really worth it unless it's only a part of your portfolio (which should be the case).

Did you really just say that holding bitcoin isn't worth it??!

If someone buys bitcoin, doesn't get into alts at all, and just holds bitcoin they will make a TON of money! Sure investing in altcoins could potentially increase profits even a lot more, but it is also highly risky. Altcoins can be very profitable but there are so many, and even plenty of ones that have really good concepts and devs don't skyrocket, even with proper research it is still involves a lot of luck. If you're successful then that's fantastic and it is much better than just holding bitcoin, but it is easy to not be successful, or to hold something as it pumps and keep holding thinking this is only the start and then it dumps - that happens all the time with altcoins. Not saying one is better than the other, but if someone just wants to safely make huge profits then "blindly" holding bitcoin long term is the best bet in the world right now. So how is that "not worth it"?

[Qartersa]

Look at the value of Bitcoins now! I guess you sold yours too soon considering that Bitcoins even reached $7,500 this November. I think it will even reach as much as $15,000 before the year ends. I remain hopeful that this peak will not forego too soon. There is hope! Nonetheless, good for you if you bought other cryptocurrencies. Just keep on investing, and soon your time will flourish.

[ledsgo]

It's funny to read people predictions after time have passed and we now know what really happened.

It shows you that you can predict whatever you want but it doesn't worth much...

[thecodebear]

Look at the value of Bitcoins now! I guess you sold yours too soon considering that Bitcoins even reached $7,500 this November. I think it will even reach as much as $15,000 before the year ends. I remain hopeful that this peak will not forego too soon. There is hope! Nonetheless, good for you if you bought other cryptocurrencies. Just keep on investing, and soon your time will flourish.

I think there is no way it'll hit $15k by end of the year! It's not gonna double in the next 8 weeks! Especially with the fork coming which could cause the price to drop at least for a bit.

But yeah selling bitcoin any time soon, or earlier like OP did at 5700, is just a bad idea. There's only three reasons to sell bitcoin (other than to buy altcoins) before it gets up to at least like $50k.
1. You need the money right now.
2. You are actively trading bitcoin against USD and are attempting to sell during a dip and buy in lower - i guess this is what the OP wanted to do but obviously failed as this is very risky during a bull run!
3. You bought in a long time ago and are already starting to take profits or diversify your portfolio because you've already gotten rich.


Other than those, I can't imagine why anyone would sell at such low prices as these.

[BTCMILLIONAIRE]

I sold 1/4th of my bitcoins today as price was too good to me and I thought that in coming days price may drop so sold some coins and gain best profits on my investments and now hoping for the price to go lower in coming days so that I could buy some bitcoins at lower price as price will surely go below $6k in coming days.

The price should go below 6k easily since it was the first time it went over that recently. But given the kind of rise we are seeing, may want to hold off till $20,000 or even $1,00,000 before selling. Bitcoin is just starting to gain popularity in the investment world. Lots more price increase to follow given the limited supply.

There are alts that will climb faster than Bitcoin. It just isn't easy to identify them. But blindly holding Bitcoin until a given target isn't really worth it unless it's only a part of your portfolio (which should be the case).

Did you really just say that holding bitcoin isn't worth it??!

If someone buys bitcoin, doesn't get into alts at all, and just holds bitcoin they will make a TON of money! Sure investing in altcoins could potentially increase profits even a lot more, but it is also highly risky. Altcoins can be very profitable but there are so many, and even plenty of ones that have really good concepts and devs don't skyrocket, even with proper research it is still involves a lot of luck. If you're successful then that's fantastic and it is much better than just holding bitcoin, but it is easy to not be successful, or to hold something as it pumps and keep holding thinking this is only the start and then it dumps - that happens all the time with altcoins. Not saying one is better than the other, but if someone just wants to safely make huge profits then "blindly" holding bitcoin long term is the best bet in the world right now. So how is that "not worth it"?

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.

[gentlemand]

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.

[thecodebear]

I sold 1/4th of my bitcoins today as price was too good to me and I thought that in coming days price may drop so sold some coins and gain best profits on my investments and now hoping for the price to go lower in coming days so that I could buy some bitcoins at lower price as price will surely go below $6k in coming days.

The price should go below 6k easily since it was the first time it went over that recently. But given the kind of rise we are seeing, may want to hold off till $20,000 or even $1,00,000 before selling. Bitcoin is just starting to gain popularity in the investment world. Lots more price increase to follow given the limited supply.

There are alts that will climb faster than Bitcoin. It just isn't easy to identify them. But blindly holding Bitcoin until a given target isn't really worth it unless it's only a part of your portfolio (which should be the case).

Did you really just say that holding bitcoin isn't worth it??!

If someone buys bitcoin, doesn't get into alts at all, and just holds bitcoin they will make a TON of money! Sure investing in altcoins could potentially increase profits even a lot more, but it is also highly risky. Altcoins can be very profitable but there are so many, and even plenty of ones that have really good concepts and devs don't skyrocket, even with proper research it is still involves a lot of luck. If you're successful then that's fantastic and it is much better than just holding bitcoin, but it is easy to not be successful, or to hold something as it pumps and keep holding thinking this is only the start and then it dumps - that happens all the time with altcoins. Not saying one is better than the other, but if someone just wants to safely make huge profits then "blindly" holding bitcoin long term is the best bet in the world right now. So how is that "not worth it"?

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.

Well it has so far been worth it for every single person who has ever done it, just sayin'.

And diversifying in crypto is a bit different than diversifying in say the stock market. Because bitcoin is THE coin. There's no one stock that everyone is trying to get, the way Bitcoin is for cryptos. Not saying diversifying is bad or anything, but when it comes to crypto diversifying into altcoins raises the risk of the investment rather than lowers it. With that increased risk sure you could make even a lot more money than just holding bitcoin, but because of the increased risk you could also lose some of your bitcoin.

Holding bitcoin has so far for everyone always been worth it. Investing in altcoins carries much higher risk and works out for some but doesn't work out for others.

In crypto its bitcoin for safe massive profits, altcoins for risky possibly even higher profits but also possible loses. 99% of the altcoins out there are not gonna go anywhere long term (I'd certainly call that risky which is the opposite of what diversification is supposed to give you), and at this point in time the only coin we know is likely headed for major adoption is bitcoin (the safe bet in crypto).

[BTCMILLIONAIRE]

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.

I'm sure it has served just about anyone who ever held Bitcoins and didn't sell them (or lose access to their wallet) so far. But that's still very dangerous and could turn ugly really quickly. Which is fine, it's the high risk involved that allows Bitcoin to be highly profitable, but we shouldn't start fooling ourselves into thinking it is or ever has been in any way a safe investment.

And yeah, it's quite easy to spot the future losers from miles away. They might get lucky for a while, but will almost inevitably end up shooting themselves in the foot somewhere down the road.

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.

Well it has so far been worth it for every single person who has ever done it, just sayin'.

And diversifying in crypto is a bit different than diversifying in say the stock market. Because bitcoin is THE coin. There's no one stock that everyone is trying to get, the way Bitcoin is for cryptos. Not saying diversifying is bad or anything, but when it comes to crypto diversifying into altcoins raises the risk of the investment rather than lowers it. With that increased risk sure you could make even a lot more money than just holding bitcoin, but because of the increased risk you could also lose some of your bitcoin.

Holding bitcoin has so far for everyone always been worth it. Investing in altcoins carries much higher risk and works out for some but doesn't work out for others.

In crypto its bitcoin for safe massive profits, altcoins for risky possibly even higher profits but also possible loses. 99% of the altcoins out there are not gonna go anywhere long term (I'd certainly call that risky which is the opposite of what diversification is supposed to give you), and at this point in time the only coin we know is likely headed for major adoption is bitcoin (the safe bet in crypto).

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.

[thecodebear]

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.