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Author Topic: Why people sell bitcoins?  (Read 5721 times)
imam ukik
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November 17, 2017, 11:08:36 AM
 #1

Worldwide, especially in my place, must sell it for profit rather than always keep it!
The government always forbids the use and play bitcoin so that it can not grow fully potential in my place. Surely it remains an advantage if there is a transaction rotation for bitcoin in my country to live.
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November 17, 2017, 11:10:00 AM
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Well ideally bitcoin is a means of investment, but if you really need the money for whatever reason, you have to sell the coins to get some sort of fiat currency back.

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November 17, 2017, 11:11:22 AM
 #3

Worldwide, especially in my place, must sell it for profit rather than always keep it!
The government always forbids the use and play bitcoin so that it can not grow fully potential in my place. Surely it remains an advantage if there is a transaction rotation for bitcoin in my country to live.
I think it is better if you will not be using bitcoin since you said that the government forbids the use of bitcoin, it other words, they banned it in your country.

People sell their bitcoins because they need money or they want to get their profits out of their saved bitcoin.



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November 17, 2017, 11:33:53 AM
 #4

Worldwide, especially in my place, must sell it for profit rather than always keep it!
The government always forbids the use and play bitcoin so that it can not grow fully potential in my place. Surely it remains an advantage if there is a transaction rotation for bitcoin in my country to live.
I think it is better if you will not be using bitcoin since you said that the government forbids the use of bitcoin, it other words, they banned it in your country.

People sell their bitcoins because they need money or they want to get their profits out of their saved bitcoin.

The OP can still use bitcoins despite the government ban in his country.I don`t think that there`s any way for the authorities to catch him,unless he uses some cryptocurrency exchange platform that requires ID verification.I don`t understand why are you asking this question,OP.The people sell thier btc to get fiat money to buy goods and services,btc isn`t accepted by most merchants.There`s also panic selling,but we all know what panic selling is.



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markleal
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November 17, 2017, 11:50:32 AM
 #5

Worldwide, especially in my place, must sell it for profit rather than always keep it!
The government always forbids the use and play bitcoin so that it can not grow fully potential in my place. Surely it remains an advantage if there is a transaction rotation for bitcoin in my country to live.

 Smiley Hi there imam ukik! That is an excellent question. The simple answer is “people sell bitcoin to gain more bitcoins!”. Yes, you read it right; that what most of the people do in bitcoin trading. Equipped with the chart and knowledge with fundamental and technical analysis of trading, one can take advantage of the bitcoin price swings. The most essential rule is Buy near at the support level (blue line), and Sell at the resistance level (red line). You can check this link https://goo.gl/B6NXeY to see the graph as an example. Hope it helps!  Wink

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November 17, 2017, 12:05:06 PM
 #6

Quote from: imam ukik
Why people sell bitcoins?

Because you need the fiat equivalent, that's why.
Some can't hold forever as most important we are not immortals.

We had a thread about the average age and it came to no surprise that most of the old investors were already over 40 and even 50.
Why keep bitcoins and cash in when you're in your 60?
Are you going to waste your life watching numbers and hoping to be a billionaire for two second before you kick the bucket?

A lot of buyers are content with a 30x or even a 10x profit.
Not everybody want to take a risk of losing it and would rather enjoy the gains that watching green and red candles forever.


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November 17, 2017, 12:09:35 PM
 #7

Many people are investing in Bitcoin. Therefore, Bitcoins are sold if a person needs money or simply if the current price suits him.

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November 17, 2017, 12:10:52 PM
 #8

Worldwide, especially in my place, must sell it for profit rather than always keep it!
The government always forbids the use and play bitcoin so that it can not grow fully potential in my place. Surely it remains an advantage if there is a transaction rotation for bitcoin in my country to live.
I think it is better if you will not be using bitcoin since you said that the government forbids the use of bitcoin, it other words, they banned it in your country.

People sell their bitcoins because they need money or they want to get their profits out of their saved bitcoin.

The OP can still use bitcoins despite the government ban in his country.I don`t think that there`s any way for the authorities to catch him,unless he uses some cryptocurrency exchange platform that requires ID verification.

There are a lot of ways to catch a bitcoin user because it is not really that anonymous as some threads and researches proven it.

Obviously, people tend to sell their bitcoin because:

1. They want to get the equivalent fiat and use it as they pleases.

2. They want to use the fiat that they had sell to buy again bitcoin (well some of the people who wants to have a great profit do this especially when the price of bitcoin dumps)


 
 
 
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November 17, 2017, 12:13:40 PM
 #9

of course people sell bitcoin to make profit and then if the price is down again, they can buy another bitcoin and then they will hold until the price is back increase. this conditions will be repeat over and over. no matter if the price is at the higher price, as long as there is difference for the buy and sell, people will used this chance to make profit. but for a bag holder, they don't do this and they only buy once and waiting until they see the price is increase so high then they will sell it.


 
 
 
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November 17, 2017, 12:31:08 PM
 #10

Many people are investing in Bitcoin. Therefore, Bitcoins are sold if a person needs money or simply if the current price suits him.
I agree with both of this , I personally sold my bitcoins because of this two main reason ! when I need money whether the bitcoin is low or high at the moment I will sell it second is if I already have enough profit from my investment I will sell it and wait for the bitcoin price to go down and buy more .

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November 17, 2017, 12:34:21 PM
 #11

not everyone is in a position to keep all their bitcoins.
everyones circumstances are different, I have sold BTC
a few times so far, once to pay a monthly bill and the
second to buy a treat for myself  Grin

Bitcoin was actually invented to be an alternative to
FIAT not just a store of value and a commodity to be
traded.

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November 17, 2017, 12:36:50 PM
 #12

Many people sell Bitcoin and crypto in general because there's still many doubts about it.

They are scared that crypto is a balloon that is about to pop any time soon and they want to secure their profits/investment.

Crypto is still in early phase and isn't mass adopted yet, so I understand where the fear might be coming from.
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November 17, 2017, 12:43:25 PM
 #13

Many people sell Bitcoin and crypto in general because there's still many doubts about it.

They are scared that crypto is a balloon that is about to pop any time soon and they want to secure their profits/investment.

Crypto is still in early phase and isn't mass adopted yet, so I understand where the fear might be coming from.
Yes, People fear that they loss all they bitcoin, if it will happen anything bad in the future for this cryptocurrency, so they go for exchange their coins to the local currency, But personally, I believe too much in this crypto, I always keep around 50-60% of my weekly income in my wallet and i use the other part, so If bicoin will banned one day, or a bad thing will happen, I say that i already withdraw some cash and i am not looser.

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November 17, 2017, 12:47:24 PM
 #14

Depends on why he was purchased. If for investment, you can hold and wait for the price increase, while of course you can sell a part. If only for the purpose of earning, then buy-sell on an ongoing basis.
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November 17, 2017, 12:48:09 PM
 #15

It is easy for people to sell bitcoin because they think bitcoin has come to its own psychological level and think bitcoin is expensive and not suitable for holding.

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November 17, 2017, 12:50:50 PM
 #16

those who buy and sell are surely daytrading, so the price itself is of no real importance.
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November 17, 2017, 12:55:23 PM
 #17

Worldwide, especially in my place, must sell it for profit rather than always keep it!
The government always forbids the use and play bitcoin so that it can not grow fully potential in my place. Surely it remains an advantage if there is a transaction rotation for bitcoin in my country to live.
As the OP has said,since their government forbids the use of bitcoin,people may have fear that some day,their government might ban bitcoins totally and then it would be useless for them despite its increasing price.So,they are selling their bitcoins.

Another reason,not every one could afford to hold bitcoins for all the time.They might be in some desperate need for money.So,they just sell it to meet their needs.

Another reason,may be they like to sell bitcoins at its high price and then decide to buy it again in the price dip.


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November 17, 2017, 01:00:32 PM
 #18

Because we use bitcoin as invest method or buy must we not buy bitcoin because we love it  Tongue Tongue Tongue
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November 17, 2017, 01:06:15 PM
 #19

The more sensible thing to do is trade it. Buy low, sell high then buy it back when it dips and keep the profits but not everyone is good at swing trading and you also have to take into consideration there are people with hundreds even thousands of bitcoins to spare so selling a few here and there won't make a dent in their reserve. The unpredictability of life can also cause someone to sell their Bitcoin. Things such as sickness, natural disasters, accidents, debt etc. Some times people need money immediately and the only option they have is to sell their BTC but at least they have an option, not everyone do.
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November 17, 2017, 01:37:30 PM
 #20

I sell my bitcoins when i alreade have the desired profit ! Most of the time I sell it when the downtrends has already started in the market ! when the market is cheap I'll buy mote bitcoins and sell it again some time in the future when I already hit the desired profit and they cycle just continue

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