what is the right time to cash out?

[finlandais]

You were worried because you thought that price will drop more and that's why you sold your coins and I think it was natural.Not only you,many people sold there coins because no one  was expecting such a lift in the price.When the price start dropping you should not immediately sell your coins ,you should wait at least for 1 or 2 days to analyze what will happen to the price next and then you should sell according to the situation.

[1714847504]

1714847504

[Ahiaba]

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.

Op, selling at loss as a result of panic is the most dangerous decision for one to have make when it come to crypto currency trading. For you to over come te fear of losing your capital in Bitcoin what you need do is develop a positive mind and believe that Bitcoin market value will continue to increase day after day and not minding correction period which I believe is normal.

[thet]

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.

You czn cash out out anytime but to be able to get a profit you should cash out your bitcoin when it is in the highest price.

[BUK2016]

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.

Op, the right time to cash out depends on your point of entry as to whether you have meet up your take profit or not.

[theeelmusical]

I think it's up to you. The right time to cash out depends on your decisions. If you think the price of the Bitcoin is enough for you to cash out then go for it.On the other hand, follow your instinct, if you think that price will be the highest price at that point and the price may be fluctuate somehow after that highest point, then follow your instinct. Just make sure to cash out a right amount of Bitcoin and be positive.

[coin_1122]

You have setup a specific time and value for investment because for every thing there is break even point. So you have to set some limits for cashing out your investment.

[wattson]

You can't go too far wrong with acting on the absolute opposite of the emotions you're feeling at the time. That's what successful traders do. If you're terrified and desperate to sell you should hit yourself and buy as much as possible. If you're euphoric and selecting Ferrari colours, hit yourself and sell.

This is generally where I'm coming from. Buy when there is blood in the streets. Sell when everyone thinks they can buy lambos next week by holding a couple BTC.

One caveat: This applies to Bitcoin, and by now, it might even apply to Ethereum. But when it comes to most altcoins, you need to be very aware of the fundamentals. If the market drops 80% in an altcoin, you better be checking the ANN threads and finding out why.

If an altcoin market is that bloody, there are often major fundamental reasons why: devs exit scamming, protocol failure, etc. In that case, do not buy when there is blood in the streets.

Quite an analogy, but the question is still unanswered; how do we know when there is a blood in the street? In my opinion we have to admit that there is no golden rule which need to be followed but we must contextualize every  trade. But there are some general things also like risk reward ratio and knowledge of fundamentals. So as per my limited knowledge and perception bitcoin is settling in present price range, which is prerequisite for steep rise.

[MAJICOIN]

The right time to cash out your digital money is when you need it. Those people who are unemployed they have only one source of money they always withdraw their amount into cash while those people who are doing jobs they keep their bitcoin in their wallet for getting some profit. They are sometime withdraw their amount into cash.

[darewaller]

You're so scare about Bitcoin mean you have no trust in Bitcoin at all. I know the price of Bitcoin is very volitale but things are going with the posivite way not negative way .

He's only a beginner here and still didn't see how bitcoin's movement. For us that been here for years we see bitcoin at its lowest at the same time at its peak and we fully trust bitcoin. Just hope  OP learned his lesson and believes that bitcoin has its own way for us to amaze every single day. And bitcoin being volatile is somehow a blessing in this guise.

It’s simply he’s fault and I don’t see any advice to give him on this issue. You can’t tell him to wait for Bitcoin price to fall, because as I’m seeing it, I don’t even think that Bitcoin will ever fall in price, the price rate is likely to be making continuous rising.

I remember when BTC price rate was at $4500 and some guys were saying they will wait for it to drop back to $2000 or $3000 and then they will invest, but that didn’t happen, they never got the chance to, rather the price of BTC kept on increasing and now is at $8000+. Best thing now is to invest at this rate of $8000 and wait for price to go up to $10,000 and you will then benefit from it. Simple!

[tanghere1]

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.

Every trader experienced it at least once. Truth is there is no telling when is the best time to cash out. My advice is learn from your mistakes.

[Fancyax]

Nobody can expect when the prices will drop. You should fix your goal and and sell only when you reach it.
Usually, the greed can cause a great loss.

[CodyAlfaridzi]

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.

Did you sell your Bitcoin? Hope you didn't because it really reached $8000+ now LOL.

The right time to cash out is when you feel satisfied with that amount. Don't be greedy, don't try to call the top. Cash it out when you want to cash it out—when you feel comfortable to cash out.

I personally wouldn't do it now. $8000 is still far from my valuation of Bitcoin. Did you realize that Bitcoin market cap is nowhere near golds? Currently only 1/70 of gold market cap. I know that comparing Bitcoin to gold, or saying that Bitcoin is the next-gen gold might sound crazy to people. But hey if we only go "only" 10x from now, we're at $100,000 already! Surely wasn't a bad price at all.

[macchiato]

Best time to cash out is when the price of your coin is at all time high because after this it will surely dump. That what happens to bitcoin, due to its volatily, it is easily affected by activities in the market that causes its price to rapidly increase and decrease afterwards.

[steffi79]

You're so scare about Bitcoin mean you have no trust in Bitcoin at all. I know the price of Bitcoin is very volitale but things are going with the posivite way not negative way .

He's only a beginner here and still didn't see how bitcoin's movement. For us that been here for years we see bitcoin at its lowest at the same time at its peak and we fully trust bitcoin. Just hope  OP learned his lesson and believes that bitcoin has its own way for us to amaze every single day. And bitcoin being volatile is somehow a blessing in this guise.

It’s simply he’s fault and I don’t see any advice to give him on this issue. You can’t tell him to wait for Bitcoin price to fall, because as I’m seeing it, I don’t even think that Bitcoin will ever fall in price, the price rate is likely to be making continuous rising.

I remember when BTC price rate was at $4500 and some guys were saying they will wait for it to drop back to $2000 or $3000 and then they will invest, but that didn’t happen, they never got the chance to, rather the price of BTC kept on increasing and now is at $8000+. Best thing now is to invest at this rate of $8000 and wait for price to go up to $10,000 and you will then benefit from it. Simple!

so this is the scenario were you dont have to be more greedy or i can say if there is a chance then you may grab it because we are freely to speculate if this may happen but you are not able to be true all of your speculation so if you are able to take that chances then take for it.

[dieselmeister]

I think with Bitcoin, you can withdraw whenever you want. Unless you have a important work, you should not withdraw money.

[danherbias07]

I think with Bitcoin, you can withdraw whenever you want. Unless you have a important work, you should not withdraw money.

Yes that is true.
Just dont back at the price.
If we need the money then why not, specially with emergencies.
I find it easier if I dont withdraw it all. Just a little part of the bitcoin I have earned so that I can still feel the increase in price every time bitcoin is pumping up. Just dont do it because of panics.

[buyinbtc]

You were worried because you thought that price will drop more and that's why you sold your coins and I think it was natural.Not only you,many people sold there coins because no one  was expecting such a lift in the price.When the price start dropping you should not immediately sell your coins ,you should wait at least for 1 or 2 days to analyze what will happen to the price next and then you should sell according to the situation.

Yeah, this is typical panic. That's why newbies shouldn't trade with large amounts even if it is tempting as they can earn more this way. It is quite sad to be honest as everyone mentions same rule, to never sell when price is dropping and just stay calm instead of panicking, sad that newbies never listen to these advises.

[sana54210]

That is clear mistake because you were afraid to losing your bitcoin. Being trading is very risky. why you do not think it's a good opportunity when the value price become low, because you can buy bitcoin at low price then you just have to wait to increase the bitcoin's value price so you can sell it at high value.l, so you can earn some bitcoin.

That is a mistake most people after not doing their research will just have to learn the hard way at some point.

Rather than looking at the positive side of things, most of the newbies in the system always end up looking at the negative side and then they end up panicking instead of making the best move of their life to buy at a low value and even make more profit.

Well, it is one thing to make a mistake once, but only a fool will make the same mistake twice which is why the weak hands will have to get strong when the lessons have been learned.

[naidray]

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.

That is quite normal for a newbie (new to trading ) to panic and sell the coin. but I would like to suggest never sell your coin in panic specially BITCOIN. If it is altcoin I can understand selling at a meagre loss of 10-15% but never sell your bitcoin. do your research and at least try to stay in your trade for mid to long-term period. otherwise, you will lose money in future too.

I would say even on altcoins panic selling wont really be always a good step for you to made since some of them do really still acts like bitcoin when it comes to price movement and recovery later on when theres a sudden price decrease but this thing would only be possible on some alts which not all do have these kind of traits. Cashouting on the right time is a tough job but rest assured or having a secure profit taking always reap out above on your purchased price.

The reason why most people panic really is because they do not even know the right decisions to make and if they have been very conversant with how trading works, I am sure no one even will panic with altcoin trading, let alone bitcoin trading.

Personally, I always set a stop loss for alts anyway as I believe anything that would make them go past that, I am getting at a better value. Bitcoin however, in cases of huge correction gives one an opportunity to buy low to make some good profit and I wonder why some people don't see that and ends up doing otherwise.

[kavindra]

I am still learning to overcome nervous when making a wrong decision in trading, because I think loss and profit in trading depends on ourselves. the most important not to panic easy to sell if you experience a loss, must always think positive and stay calm, so no one in taking the decision to sell or buy