what is the right time to cash out?

[BCTBF]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Whenever you cash out it depends on your own, if you already benefited from your trade, then you can cash out whenever you want. You are too quick to judge, you should be able to relax a little and not to fear and panic when a big dump occurs. investing in bitcoin is no doubt if you can be patient a bit. The bitcoin price will still go up and now you regret it.

[1714061117]

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[nasibakar]

Every time is the best time to cash out,
I actually choose to hold thing now.

It may grow higher

[aardvark15]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

I’ve made this mistake in the past. Sometimes you just have to invest and then not look at it for a few months. If you panic buy and panic sell you’re going to miss out on gains. Cryptocurrencies are high risk investments and there will be volatility so you need to invest money that you can be willing to lose if it goes bad. This will help you be able to buy and hold long term.

With Bitcoin, you are most likely going to make money if you buy and hold for a few years even if the price drops some during that period.

[pikebu]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Well i think you must find your purpose of trading or investment into bitcoin or alternative coins, are you doing trading for main source of income in bitcoin or it is just for passive income? Should you doing trading is just for passive income ( long term investment), it will makes your emotions in trading activity to be cool and it will not be nervous because of the fluctuation of price and you must use iddle money in trading activity, don't use margin trading from the exchangers.

[zanezane]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Seems you didn't trust bitcoin enough for converting too early. We all see bitcoin at its peak so nothing to worry about. Have patience and put your hopes into bitcoin. And I hope you've already learned your lesson.

[chris200x9]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

This also happen to me when I am new on cryptocurrency ! I feel like when it started to go down a bit it will go down to the very end ! however traders don't think that way dont ever cashout unless you already gain an earning hold on to your coin and wait until it pump again

New to bitcoin trading will face these kind emotions until they used to these high price fluctuations. Also, it is better to put some stop loss in all trading and if you reach that level then should sell and buy back later. But OP has waited for a long time buyback and prices already reached to 8000. Now you can do is don't buy all at once instead buy in smaller quantities then you will get a better average price per bitcoin.

[jakelyson]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Typical newbie trader or hodler, always selling on lost. That is not how you do it. If you want tips, just do the opposite of what you did. Buy when the price is falling and the whole world is panicking, and sell when the price surges too high too fast and the world is buying. You should have a strong hand when you are losing, it is bitcoin you are trading. It always bounce back.

[jam22]

Today is the right time to cash out your money.

[nidacoinlove]

All the new comers do this mistake once in life at least. I personally made such a mistake when BTC price dropped from $6500 to $3000. I sold my coins on such a low price but beside regret I learned a lot. We saw a few drops after that but I never sell my BTC in a drop season. I always wait for my selling target and today is my day.
No one can ever help you in it, learn to control your nerves and then everything will be fine believe me.    

[Lani-Tani]

Are you scare of bitcoin price, then cash out all because this world is not for you. Bitcoin will reach to 6 numbers price soon, why we should worry about that.

[eaglewhite80]

Are you scare of bitcoin price, then cash out all because this world is not for you. Bitcoin will reach to 6 numbers price soon, why we should worry about that.

I would not really say that. One thing I am sure of is that every single person always learn from their mistakes and no one is above it, most especially if you do not have proper knowledge about what you are getting into in the first place. Not everyone was patient enough to study bitcoin's trend before getting in and all they heard was bitcoin would increase without understanding how the volatility works. At a point, since they have refused to learn from other people's experience, then, they just have to learn from theirs which I believe the OP or those in his shoes will never make again.

[Marrionbitcoin]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

When a huge price drops happen and you are scared of losing you money that will cause you to panic and will decide to cut your loss. Honestly, you can't stop panic selling if you trade cryptocurrency with emotions. That's not the right thing to do, you should think of it as an opportunity to invest more in a discounted price as many as you can. If you want to know when is the right time to cash out, you should always look for latest news about Bitcoin and make your own analysis, if you think that the price of your chosen cryptocurrency will crash then sell it.

Thank you.
I'll make sure I am up to date with the bitcoin news and always analyse the current situation and would make a better decision from next time

You really need to cash out if there is a significant drop down of the Bitcoin price and in the news if there's a threat of Bitcoin starts losing major investors. However, you really need not to panic because as you can see Bitcoin is too big to fail and the price is keep on increasing. If you are not sure, just withdraw it and put it in your wallet for the mean time and observe the trend again and monitor. But for me, don't be afraid and look at the brighter side of trading Bitcoin.

[ApocalypseNow]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

I think you are still new in the game. Experienced traders will buy a lot on that moment instead of selling and cashing out. If you want a long term result then lock it in a nano or trezor wallet instead of exchanges.

[markint]

The price of bitcoin has entered an unstoppable uptrend and it is difficult to predict when it will stop. But it will never be a bad idea to eventually make some partial cash out because this market is so volatile that we have continually seen corrections that can make the price fall to 30% or more, ideal moments to buy.

[1Referee]

You really need to cash out if there is a significant drop down of the Bitcoin price and in the news if there's a threat of Bitcoin starts losing major investors. However, you really need not to panic because as you can see Bitcoin is too big to fail and the price is keep on increasing.

First you say that people need to cash out their coins at the time the market drops significantly, which is similar to panic selling, and a horrible decision, and then you tell people not to panic directly after that. In other words, you tell people to exit the market when the price goes down, and then tell them not to do so. So what do you want people to do exactly? If the market is dropping significantly, you're basically too late to dump, so the only thing that makes sense in a situation like that is to just keep holding, and/or to use the funds you have left to buy at discount levels, and thus lower your overall buying price. It's basic market logic, but yet people don't seem to understand it.

[eloymjb]

 the right time to cash out is when you have a good profit and have a enough balance to cycle. and when you really need the money that you want to cash out. be sure that before you cash out that you checked the inconfirmed transaction on blockchain.

[bitbunnny]

There is no general right time when to cash out, there is unique case for every user depending if one needs the funds or not, has he invested in Bitcoin or earned it.
It's hard to calculate everything but it's important to avoid the loss at the moment you are cashing out but don't react on any price dump, that could end up realy bad. Remember there is a price pump after every dump and try to keep cool head.

[ditinhu]

In the business world you always have the right time to withdraw money when you have a good profit.

But Bitcoin has a bright future and can raise the value a lot.
Some economists say the value of it could reach $ 100,000 by 2020. If this is true you will have a lot more profit if you wait.

See what's best for you, but you better win than lose

[wbtokens]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Patience is the most needed traits in trading. You need to have tons of it for you to be profitable here. I understand your frustration when Bitcoin price dropped to $6000. Every traders are experiencing the same thing. The moment that you panic is the moment that you'll lose.As for your question about when is the right time to cash out,it depends on your goal. If you are a short term trader, once you reached the desired profit, you can cash out immediately and if you are a long term trader, it depends on how many years you want to cash out your coins on a profitable price.

Great advice. It's a rollercoaster that always comes back up after the drop. Goals are the way to go. Cash out when YOU feel is best for your desire. Of course, there is always more money to be made.

[anitaraymonds]

If you have been holding on a coin and the coin make a new high in price, It is a strong indication that a dip or breathing is eminent,You can cash out at that time and wait for the next entrance point which will be when a new low is established.