Why do people sell at 15 when the price could rebound to 30?

[imperi]

I'm just trying to understand the mentality.

[1714971374]

1714971374

[1714971374]

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[1714971374]

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[mouse]

Why do people hold at 30 when the price could drop to 15?

[stic.man]

"could"

[marhjan]

I'm just trying to understand the mentality.

Because the price could just as easily drop to $1 again also.  Because people need fiat currency to buy something.  I personally have no intentions to sell under $18, but people always have reasons to sell.  Everytime you buy a bitcoin someone had to sell it.

[imperi]

I'm just trying to understand the mentality.

Because the price could just as easily drop to $1 again also.  Because people need fiat currency to buy something.  I personally have no intentions to sell under $18, but people always have reasons to sell.  Everytime you buy a bitcoin someone had to sell it.

The price could not drop to $1 since so many people are actively interested in Bitcoin, unless there is a fundamental problem with it.

[bitcola]

The market price reflects future expectations.

If everyone thought it would definitely go to 30, the price wouldn't be 15, it would be 30.

[stic.man]

i'm not worried long term but I can see people in the short term selling some and hoping to buy back later

there are still a ton of people who got in at pennies per making enormous gains even at 15

[anthony.selby]

The Electric Company doesn't accept BTC ..... yet

[Rob P.]

It's called "confidence".

If you're confident that the Bitcoin will go to 30, within a "reasonable" amount of time.  You'll hold.
If you're not confident that the Bitcoin will rise, you're more likely to be willing to sell lower.

Additionally, confidence can move the entire market as well.  If everyone is confident the Bitcoin will rise to 30, it will, because there will be no sellers at lower prices.  If confidence is weaker, then more people will be willing to sell lower than the current asking price, and the price will fall, until confidence in the market stabilizes it again.

[Piper67]

I'm just trying to understand the mentality.

Because the price could just as easily drop to $1 again also.  Because people need fiat currency to buy something.  I personally have no intentions to sell under $18, but people always have reasons to sell.  Everytime you buy a bitcoin someone had to sell it.

Also, and perhaps more importantly, every time someone sells a bitcoin, someone else has to buy it... you have to figure people aren't buying bitcoins by the thousands with the expectation the price will plummet :-)

[HideousBeastManGuy]

Bitcoin will always have downward pressure because a large portion of miners want to get paid, and not speculate.  Price only gets held up if there's new or renewed interest in bitcoin.  The former means someone just found bitcoin and is interested in participating, the latter means someone who already is interested in bitcoin couldn't resist the new price.

[Meatpile]

Maybe what the original poster really meant was why was there so many coins (6000) for sale at exactly $15?

[dinzy]

It's called "confidence".

If you're confident that the Bitcoin will go to 30, within a "reasonable" amount of time.  You'll hold.
If you're not confident that the Bitcoin will rise, you're more likely to be willing to sell lower.

Additionally, confidence can move the entire market as well.  If everyone is confident the Bitcoin will rise to 30, it will, because there will be no sellers at lower prices.  If confidence is weaker, then more people will be willing to sell lower than the current asking price, and the price will fall, until confidence in the market stabilizes it again.

If you see the market going down hard, you should sell some regardless of where you think it will be, especially if you have zero commission.  You can always buy back cheaper.  If it doesn't drop as much as you thought it was you can buy back relatively quickly without too much loss, but if you are right, then you earned yourself more coins, or can keep the same balance and take USD.

[dinzy]

Maybe what the original poster really meant was why was there so many coins (6000) for sale at exactly $15?

no, that sell wall did not exist when he posted. 

[hugolp]

"could"

Agreed. Also, time has a value.

[bitbot]

 sell at 15 buy at 14, resell at 15

[m0w3r]

The Mt Gox disaster may have been the mortal blow to bitcoin with regard to confidence.   
The bad publicity can be deadly for a new currency.
If so, we know to blame the stupid stupid people behind Mt Gox, and their stupid security, and stupid greedy financial audit of stupidity.

[bitbot]

hope everyone bought at 14.2

[RodeoX]

A dollar in hand is worth two in the bush?

[J.]

The Mt Gox disaster may have been the mortal blow to bitcoin with regard to confidence.   
The bad publicity can be deadly for a new currency.
If so, we know to blame the stupid stupid people behind Mt Gox, and their stupid security, and stupid greedy financial audit of stupidity.

I know people who bought when the price was $ 27 ore even $ 31, so they've lost a lot of money, and do not dare buy more right now, although the price is good compared to when they bought the first time.

In addition, there are many who have lost confidence in the system, they still believe in bitcoin, but it is the stock market that is the problem

and we must not forget that it is not the easiest to get money in to buy.

there are also many flaws in the system, yesterday I got a warning from our system that the price of 1 bitcoin was $ 112.089, but we could not see it anywhere on the market. 2 days ago it was down for 2.99, but you could not buy.

So I think that people who have mining or bought very cheaply want money in their account so they can buy as soon as it drops again and then hope that it rises to what we all hope.

[JBDive]

I'm just trying to understand the mentality.

Because the price could just as easily drop to $1 again also.  Because people need fiat currency to buy something.  I personally have no intentions to sell under $18, but people always have reasons to sell.  Everytime you buy a bitcoin someone had to sell it.

The price could not drop to $1 since so many people are actively interested in Bitcoin, unless there is a fundamental problem with it.

Boy do I disagree with that one. Although BTC trends do not mimic the stock market entirely there are lessons from the stock market that can be applied. MSFT is one of the biggest companies in the world, generates a ton of money and is held by nearly every bank or fund managing firm in some way or another however their stock price has barely moved in 9 years. At the same time Pandora which makes ZERO profit was up 6% alone on Friday yet only a portion of it's stock can be publicly traded. There are far more "people" interested in MSFT but between dilution and shear speculation P trounced MSFT price gains last week.

Right now your seeing holiday selloff. This is a combination of the prior problems with GOX and the theft of coins, speculators taking profits, fewer buyers as buyers with money are on vacation and lastly I think the difficulty itself is driving away the low end miners that thought they could make some free money quick. Geeks get tired of new toys.

[TraderTimm]

What amuses me is every sub-2-dollar move is labeled a 'crash' if going down, and a 'rally' on the way back up. Right now, you have Tradehill at 15 and change, and Gox at 14.30 - and I'm waiting for the 'crash' people to come out of the woodwork.

Just have to develop a longer-term perspective to stay sane, can't react to every damn wiggle.

[AtlasONo]

Because it could reboud to $1

[hiVe]

Because it could reboud to $1

The probability of that is like winning a lottery. Bitcoin is bound to go up.

[SteveFL]

Hi, I'm one of those selling at 15.  This post will probably get me flamed for not being in the spirit of bitcoin, but here goes:

Every coin I've mined I've sold at the market rate of that day.  It serves me no purpose to hold the coins.  If I need them to purchase, I'll buy back at that point.  Sure, I might be able to make a few dollars by holding them, but only at the expense of someone else who lost money in the system.  I keep less than 1.5 BTC on me at all times and sell immediately.

As long as merchants tie bitcoin to USD this is an interim exchange.  If the coins are $15 USD to 1 then a merchant will charge 1BTC for a $15 item.  If the BTC/USD price goes to $30 to 1, then the merchant will charge 0.5.  Either way, the merchant is going to get their USD equivalent.  Buying them at that point isn't going to harm or hurt me, I'm still getting the product for the same value.

At $15/BTC I've collected about $60 more than if I held everything to now.  Don't get me wrong, I have faith in the system.  I just have no faith in what the day traders are going to do to the economy until it disconnects itself from USD.

[Phinnaeus Gage]

"could"

Agreed. Also, time has a value.

Overheard at local restaurant:

Redhead Waitress: How can you afford a car like that on only the tips we make HERE?
Blonde Waitress: Remember last year when that weirdo gave me his phone number and tipped me 20,000 BTC?
Redhead Waitress: Don't tell me you spent it on that car!
Blonde Waitress: Do I look stupid? I invested the rest in the Bitcoin exchange that everyone's been takin' 'bout the past couple weeks--Mt. Gox.
Redhead Waitress: That's smart. I thought you were goin' to tell me you bought a Bitcoin mining rig.
Blonde Waitress: What? Bitcoins are mined? That means that that weirdo got them for free. What a jerkoff!

[adamstgBit]

I'm holding on to my bitcoins for 35 years its my retirement plan....

[zby]

I've sold because of a few things:

1) Google trends for bitcoin are declining: http://www.google.com/trends?q=bitcoin&ctab=0&geo=all&date=mtd&sort=0
2) With the current price it means we need about $100 000 daily new money inserted into the bicoin economy to stabilize the price - without new people investing in bitcoin this will not happen
3) Media is mostly against bitcoin now - so there will not be many people to try bitcoin now
4) What Ben Laurie wrote is very convincing
5) Lack of instant payments (this can be improved - but this will not be easy)
6) The recent technical failures (and the user interface of TradeHill is a failure too) - decreased my faith in the skills of people running the show

It's possible that I'll buy back when the media is more in favour of bitcoin and I'll let you earn lot's of money, for now I am content with what I've got so far from my investment in March.  But even then I'll probably try to compute some numbers from the Kelly formula to determine how much of this money should I reinvest.

Update: added some more points.

[scooter]

I bought snacks at bitmunchies at 15 because I don't want to wait until it is at 30 to eat some tasty snacks.

[TraderTimm]

I've sold because of a few things:

1) Google trends for bitcoin are declining: http://www.google.com/trends?q=bitcoin&ctab=0&geo=all&date=mtd&sort=0
2) With the current price it means we need about $100 000 daily new money inserted into the bicoin economy to stabilize the price - without new people investing in bitcoin this will not happen
3) Media is mostly against bitcoin now - so there will not be many people to try bitcoin now
4) What Ben Laurie wrote is very convincing

It's possible that I'll buy back when the media is more in favour of bitcoin and I'll let you earn lot's of money, for now I am content with what I've got so far from my investment in March.  But even then I'll probably try to compute some numbers from the Kelly formula to determine how much of this money should I reinvest.

Just as proof that we can take alternate opinions here, I'd like to say I can appreciate your stance - but I disagree with you. At least you took time to document your position, which I respect, instead of the usual doomsday claptrap we have on this forum.

[error]

I'm holding Bitcoins right now; the price is much, much too low to seriously consider selling.

[phenom]

What makes you think it'll ever go back up to 30 again? This is the reason why people sell, because they have no idea. You're dreaming if you think it'll rise back up to 30 any time soon.

[JBDive]

Come on $12

[Stephen Gornick]

4) What Ben Laurie wrote is very convincing

You can't be serious.  Care to share any argument he's made against bitcoin that you believe has merit? (other than "geez, folks -- bitcoin sure uses a lot of electricity")?

[Stephen Gornick]

I'm just trying to understand the mentality.

Because they have no idea the amount of bitcoin-related awesomeness being rolled out over the next few weeks?

[imperi]

I'm just trying to understand the mentality.

Because they have no idea the amount of bitcoin-related awesomeness being rolled out over the next few weeks?

It seems like some traders are acting like frightened children, selling only because other people are.

[JBDive]

MtGox is still screwing up trades. Just saw one go through at 13.2 followed by 13.70, delayed in one thing but geeze what a spread.

[imperi]

MtGox is still screwing up trades. Just saw one go through at 13.2 followed by 13.70, delayed in one thing but geeze what a spread.

Jul 4, 2011, 22:34:50   13.70910   1.00   
Jul 4, 2011, 22:34:44   13.70910   6.00   
Jul 4, 2011, 22:34:34   13.70911   4.19   
Jul 4, 2011, 22:34:32   13.73669   0.03   
Jul 4, 2011, 22:33:58   13.70911   0.80   

Hmm...

[JBDive]

MtGox is still screwing up trades. Just saw one go through at 13.2 followed by 13.70, delayed in one thing but geeze what a spread.

Jul 4, 2011, 22:34:50   13.70910   1.00   
Jul 4, 2011, 22:34:44   13.70910   6.00   
Jul 4, 2011, 22:34:34   13.70911   4.19   
Jul 4, 2011, 22:34:32   13.73669   0.03   
Jul 4, 2011, 22:33:58   13.70911   0.80   

Hmm...

Just going by what I saw on my screen as I was trying to put in an order.

[Rob P.]

The Mt Gox disaster may have been the mortal blow to bitcoin with regard to confidence.   
The bad publicity can be deadly for a new currency.
If so, we know to blame the stupid stupid people behind Mt Gox, and their stupid security, and stupid greedy financial audit of stupidity.

I know people who bought when the price was $ 27 ore even $ 31, so they've lost a lot of money, and do not dare buy more right now, although the price is good compared to when they bought the first time.

Then they were only in it to make a quick buck.  If they bought at $27 or $31, they're insane not to buy an equal amount at $15.  That would make their average price $21 or $23 (respectively).  It's called averaging down.  Right now they have to wait for the price to go to $27+ to break even.  By buying further into the market, they only have to see the price rise to $21+ and then they can get back out.

[bittersweet]

The Mt Gox disaster may have been the mortal blow to bitcoin with regard to confidence.  
The bad publicity can be deadly for a new currency.
If so, we know to blame the stupid stupid people behind Mt Gox, and their stupid security, and stupid greedy financial audit of stupidity.

If one security fail of a business related to Bitcoins and a few bad articles could destroy whole currency, it would mean the currency was flawed from the start. In that case the only one you could blame is you and your stupidity to invest in intrinsically flawed currency (I'm not saying it's the case with Bitcoins, but it may be the case with you if you really believe "MTGox disaster" can kill Bitcoins ).

Also anyone who thinks price will only grow exponentially because more and more people would hash numbers and difficulty would go up, is simply dumb. Even now some people seem to believe that...

[wareen]

2) With the current price it means we need about $100 000 daily new money inserted into the bicoin economy to stabilize the price - without new people investing in bitcoin this will not happen

I keep reading this simplistic calculation but it cannot be justified!

You are implicitly assuming that

• every mined coin is sold instantly
• every miner is willing to sell at any price
• every newly mined coin is bought with "new" USD (ie. not earned by selling BTC)
  

No new money is strictly needed to stabilize the price - just think of a scenario where the trade volume at the exchanges is very low, then the price could be "stabilized" with very few trades (hence new money).

Even the trade volume of the exchanges does not give a good indication of the actual new money influx because there are a lot of short term speculants and daytraders. It is very hard to say how much new money is put into the Bitcoin economy but the 50*6*24*price calculation is really not very credible.

[NO_SLAVE]

Why do you insist it is going to 30?
because you believe it is? 
That sounds like religion to me, and heaven forbid you have any of that!

[Alex Beckenham]

A couple of people I've bought from have just 'needed the cash'... it's not because they think $15 is a good price.

[Mabsark]

To buy games from the Steam sales obviously. 

[mizike29]

Because if you dont sell at 15 you will be sitting at 12 by the end of the day, sucks to take a loss, but the US dollars you got for those bitcoins, guess what, there still worth the same amount, today, tomorrow etc lol.  I hope bitcoin picks back up, I love the concept and I am sitting on 50 more of them now.

[airdata]

Because if you dont sell at 15 you will be sitting at 12 by the end of the day, sucks to take a loss, but the US dollars you got for those bitcoins, guess what, there still worth the same amount, today, tomorrow etc lol.  I hope bitcoin picks back up, I love the concept and I am sitting on 50 more of them now.

Were you being serious when you said that?

If the USD isn't losing value, the only reason is that it's being propped up so as not to burn in a fiery crash.  Left unchecked, the dollar would collapse much faster than it already is.

[Rob P.]

Because if you dont sell at 15 you will be sitting at 12 by the end of the day, sucks to take a loss, but the US dollars you got for those bitcoins, guess what, there still worth the same amount, today, tomorrow etc lol.  I hope bitcoin picks back up, I love the concept and I am sitting on 50 more of them now.

Uh, yes, they're "worth" a dollar still.  But a Bitcoin is still worth a Bitcoin too.

The real question is, tomorrow, can you buy as much with that US Dollar as you could today?  They just upped the price of Diet Pepsi in our vending machine today, so clearly, today I cannot buy as much Diet Pepsi as I could yesterday.  But my dollar is still worth a dollar!  So confusing....

[airdata]

lulz.... vending machines are a rip off.

goto the store and buy some 99c 2 litre bottles of pepsi instead.

[error]

lulz.... vending machines are a rip off.

goto the store and buy some 99c 2 litre bottles of pepsi instead.

They're only 99 cents every other week. Most of the time they're almost $2!

[tonto]

6) The recent technical failures (and the user interface of TradeHill is a failure too) - decreased my faith in the skills of people running the show

No one is "running the show".  You could start up your own Exchange and set your own rates/values/etc if you have enough capital to buy/sell

[JohnDoe]

Because they have no idea the amount of bitcoin-related awesomeness being rolled out over the next few weeks?

What is this bitcoin-related awesomeness you speak of?

[bitbot]

hope everyone bought at 12 and is sellling now

[zby]

I'm just trying to understand the mentality.

You see - now that it is really going to rebound to 30 I can buy 4 times as much BTC for the USD I got from selling at 15.

[BitcoinPorn]

I can't tell if this is going to confuse people in a good way or a bad when when they see this thread and think it is current.

[kokjo]

OMG where can i sell at 15? mtgox around 4.
plz tell me!

[norulezapply]

OMG where can i sell at 15? mtgox around 4.
plz tell me!

I'll buy at 15.
All I require from you sir is your bank account details and sort code.....

[kokjo]

OMG where can i sell at 15? mtgox around 4.
plz tell me!

I'll buy at 15.
All I require from you sir is your bank account details and sort code.....

deal

[Internet151]

[TYPEcoin]

Yes, sometimes I have to sell small amount of bitcoin to get cash just because nobody acccepts cryptocurriencies in my town.

[bungutko]

Yes, sometimes I have to sell small amount of bitcoin to get cash just because nobody acccepts cryptocurriencies in my town.

@
Agree,  people have it's own decision since they will use the money to buy something. I think that bitcoin will continue to climb higher in the coming months and therefore  it would be advisable not to spend all
but hodl the remaining btc and wait for the bull run to take effect.

[carlisle1]

Yes, sometimes I have to sell small amount of bitcoin to get cash just because nobody acccepts cryptocurriencies in my town.

@
Agree,  people have it's own decision since they will use the money to buy something. I think that bitcoin will continue to climb higher in the coming months and therefore  it would be advisable not to spend all
but hodl the remaining btc and wait for the bull run to take effect.

This is what happen when were investing here just for easy money,because in the time of dip,were rushing our self to sell the coins even if theres a potential increase or rebounds no matter whats the reason,still we must be ready in falling not always growing..

[feny.blackpink]

this question remain same after years. but the value is different now.
why did people sell at $6k when the price could rebound to $9k ?
last month bitcoin price has fallen to $6k, and now bitcoin price is almost $9k.
the answer is because they was afraid that bitcoin will continue falling to $0.

[jekainvestor]

most likely people sell bitcoin for 15 to play on the depreciation, the world of crypto currency is very volatile.

[EvgeniyWorik]

All this is human greed and the fear of losing money. There is also a huge misunderstanding of the market. Now there are many hamsters in the market who do not know what they are doing.

[WaffleMaster]

Yes, sometimes I have to sell small amount of bitcoin to get cash just because nobody acccepts cryptocurriencies in my town.

Why did you gravedig a post from 2011 LOL? Bitcoin was actually $15 then. I suspect this is around the time the price flash crashed from $40. This guy would be a millionaire by now and probably not even on these forums. But seriously, people can we stop grave digging posts from 7 years ago? Let's all stop posting on this so it doesn't get bumped to the top again.

[zeze18]

The question is how people knoww the price will rebound to 30 ?
If the price drops again to 10, they cut the loss

[Iamdavid]

Most people are scared the price might not appreciate anymore so they sell off the moment the price drop in order not to lose totally on their investment

[Dico88]

If you do not sell at 15, then you sit at 12 at the end of the day and sucks to take a loss, but the dollars you get for bitcoin. I hope bitcoin takes it back and I love the concept and sitting in 50's over now.

[criz2fer]

Some people just cut their lost. But buy the end of the day, they still profits from it if they bought from low.

Most people just panic from it. In my humble opinion is is hold until the end of the year and just buy more in every small dump.

[mast3rm1nd]

because there are no guarantees that the price will reach 30 ?? why hold and why sell in the first place? I think you have to define your goals and determine what you want to do before discussing broad questions like this, what are we talking about here Bitcoin ?

[Ayiranorea]

because there are no guarantees that the price will reach 30 ?? why hold and why sell in the first place? I think you have to define your goals and determine what you want to do before discussing broad questions like this, what are we talking about here Bitcoin ?

That's the true fact, there is no assurance that the price will reach 30, we believe and hope the best to happen. In between things can go out of prediction when there are regulatory compliance and other financial pressure towards the community from the governing bodies.

[b3llsf1l3s]

I'm just trying to understand the mentality.

we should know that the price of all coins on this crypto is very volatile and that very often can put some people down, even with some good analytical possibilities but that does not mean it will happen, most likely they just anticipate the undesired things

[Mmball2018]

People tend to panicked. They might loss rather than gain when it drops. Or the other way around. They will also gain big if they hold it a bit longer. The nature of BTC will put you in a crossroad and you should make an abrupt decision on what road will you take.

[bingungsekali]

maybe they're afraid the bitcoin prices fall below 15k and this is a belief for bitcoin holders. Their assumption is that if prices fall and are under 15k, then they will get a loss.

[ogini]

This are investors that don't understand what the market is also about ,they out of ignorant and at the end they regret for at such price,but if they are patient enough they benefit

[Julunguul]

I'm just trying to understand the mentality.

because no one really can predict the condition of the market condition for next 30 min or a 3 days more, even if they're skilled trader all of it are just analysis. 10% analysis and 90% market make its own decision.

plus with uncertain circumstances such as "there is new news that bitcoin is banned in xxx country"
when a market turns green for 3 months and then suddenly it goes to red and deep in just a few hours

[yoseph]

maybe they're afraid the bitcoin prices fall below 15k and this is a belief for bitcoin holders. Their assumption is that if prices fall and are under 15k, then they will get a loss.

It's all about impatience and fear of losing money, No one knows when the market is going to appreciate or tank and because of that they are all very quick to cash out incase their investments starts to go down and they make some losses.

[thecoder2017]

Maybe they are afraid of what will happen in the future because price of bitcoin is unpredictable it goes up and down so when its price reach their desired price they sell it  for the fear that it will go down again.

[btcluisdiki]

That would depend on the person's decision as to why they sell it at that price. Perhaps at 15, they were able to gain profit and if the reason is they were afraid that it might still decline and lose their money, they lack confidence and belief on their investment. However, If I am in their position, I would not hesitate to hodl for a longer period where I believe it will make an increase when the right time comes. Always believe it will happen and don't let your emotions do your decision making.

[Cutieh01]

Maybe they are afraid of what will happen in the future because price of bitcoin is unpredictable it goes up and down so when its price reach their desired price they sell it  for the fear that it will go down again.

It's because they afraid that the price will go down deeper without knowing that it could bounce back multiple times. The only key is hold and be patient because world of crypto is built-in unexpected change and flactuation of price is normal.

[bitcoinjasensatom]

Maybe they are afraid of what will happen in the future because price of bitcoin is unpredictable it goes up and down so when its price reach their desired price they sell it  for the fear that it will go down again.

It's because they afraid that the price will go down deeper without knowing that it could bounce back multiple times. The only key is hold and be patient because world of crypto is built-in unexpected change and flactuation of price is normal.

Yes it's true, but if you are only aware that crypto cycle is like a roller coaster sometimes down and sometimes up, there's nothing to be worry with the downsize of price. Wait for the right time because it really gives great profits.

[Pistachiop]

Impatience i th driving factor behind such decisions, most people are not patint enough to let the coins grow and get their value hence the opt to cashin early

[Ravenangel]

Impatience Is the reason why,Most people especially bounty hunters are impatient  and unwilling to let the coin grow. Most are overjoyed with the amount available when the coin has just make the exchange or gained value slightly, so much that they tend to sell off cheaply without waiting for them to realize the potential they have. The fear that the coin might might slip to a lower value i also a huge factor as to which people to sell early and cheaply

[market-beta]

because they fear that the price will fall. so they sell their bitcoin.
some sell because they are pushed by the economy so they sell their bitcoin regardless of profit or loss .

[Ciscopro2000]

They are day traders and probably lock in their profits at $15k.  They don’t think the price will rise to $30k anytime soon and betting that it will fall instead.  Or some just need the money for other things. 

[poletando]

this thread is 2011? wow it mean that the panic sellers already do this from 2011, yes they sell in the low because of panic, and they don't want to makes their asset value decreasing, so they choose to sell it in the low when the price of that coin can be rebound

[hermae]

because they fear that the price will fall. so they sell their bitcoin.
some sell because they are pushed by the economy so they sell their bitcoin regardless of profit or loss .

Because the price of bitcoin is unpredictable. It could be this time is very high and very low at the next. So they are just taking it than getting a low price.

[batang_bitcoin]

this thread is 2011? wow it mean that the panic sellers already do this from 2011, yes they sell in the low because of panic, and they don't want to makes their asset value decreasing, so they choose to sell it in the low when the price of that coin can be rebound

Yeah it brings us up to the old times where bitcoin is at such low price and holders are also panicking. History repeats itself so panickers will are being passed to the new generation.
While the ones who remains strong and faithful to bitcoin are now happy with the profits they got and probably some are still hopeful that it will increase to an unexpected price.

[Swanh]

Why do people hold at 30 when the price could drop to 15?

They hold it because possible it is profitable if holding worth the time
Sell when the price drops more due to panic that it will continue to dump and lose its value.Thats the real scenario of a panic seller,no profit as long as to cut their losses.

[Tipsters]

I'm just trying to understand the mentality.

It is because they lack patience. I have bitcoin now but I am still waiting for the price to reach 30k. The greatest profits needs a lot of risk and time to be achieved. Anyway, we are not authorized to change the actions of other users in this forum so we might as well respect their decisions. To that end, I will now go back to acquiring more bitcoin so that I will have the biggest profit in this year's last quarter.

[saffira]

Because the price is unpredictable. Some wants to gain but most are afraid to lose. That is why when we do trading, buy and sell, make sure that our decision is final and we have no doubt on what we are doing.

[dungthuy]

each people each have other opion about market,you think it can rebound 30 but they think it cann't or they buy at price lower then 15,now they sell ay 15 they get big profit,or may or maybe they are trading day investor,they always find profit day by day and never hold any coin for a long time, and this is market,nobody can perdict about market,cheap with this people but hight price with other people

[coinriver]

When prices rise is uncertain, it is wise to sell at the right time.

[Caesar Cung]

When prices rise is uncertain, it is wise to sell at the right time.

Most of my friends called me how to buy ETH when it was above 1k. I told them wait. Some wait and bought around 800, some wait and bought around 500, some didn't buy when I called them and it was under 400. They read it will go to 100...Now they regret. It is at least the 3rd time in last 2 years when I see this happening, I believe this is simply human behaviour. Everybod wants to buy when it goes up, few want to buy when it goes down, only very few wanna buy when it's extreme cheap...I guess that's life...During the hype they don't know how to make account and transfer fiat faster (FOMO), during the dump I told them to prepare and do those things since it takes time, but they say: why should I buy now? It's going down. Than, later, FOMO again. Due to this I don't even respond to their questions anymore.

[manismanja]

I think he who sells very cheap like that they are only affected by the talk of others and affected with some fake news that makes them panic and sell at cheap prices.

[cryptowonders@20]

Reason because you can't predict the price, it may drop anytime or noting pleasing, so people do sell out some percentage of there token leave the rest.

[gabmen]

I think he who sells very cheap like that they are only affected by the talk of others and affected with some fake news that makes them panic and sell at cheap prices.

Sometimes it can't be helped. There would be situations wherein a person would be forced to sell at a  lower price. I think it stems from them not being able to afford bitcoin's long term hold time. You have to be ready to have your btcs in your wallet for more than a year because if not you'll fall prey to its volatility

[Dudeperfect]

Well, I believe that there is lack of knowledge, vision and patience among the investors when they get themselves under the fear of missing out. I always try to follow the principles of Warren Buffet (even though he has different opinion about crypto, we can't ignore his authority in investing), he says "Be fearful when others are greedy and be greedy when others are fearful" because investors usually blindly follow the market sentiments instead of using it for making profit out of it.

[dollarneed]

This exactly when I bought bitcoin couple years ago when the price was 600 $ or something and then sold them at $ 230, you know the reason why I did this?? because I was too scared that it would be hit $1 or even nothing. On the other hand, those who sold crypto at the lower price I think because they need cash so bad, so whatever the price they will sell their crypto and just don't care, all i can say this industry is so unpredictable.

[malbterxic]

There is such a saying - if you knew when and where you fall, I would put a soft pillow. The fact is that the human psychology is so arranged that it can be calculated and this is used by competent manipulators. Will grow to 30 or not grow, not who exactly does not know, but if you recorded profits, then will not regret the fall of the market.

[karisiak123]

but can not also be determined. because the price can not be ascertained. everyone there must be a reason to sell. the price that we think is high in seconds can change down and can also be high. so people reasoned to sell because according to his price was already high.

[stayeduptolate]

I'm just trying to understand the mentality.

We cannot predict and exactly understand the mentality of people. We all know that the VA of bitcoin has been going through many ups and down in the last past 6 months and I think it has down to its maximum lower limit so people could be in penic that they could suffer very huge loses if the valuation does not recover to its normal level and this could be the most probable reason why people are in penic in selling their bitcoins instead they can get much more profit because I am very sure that valuation will recover to its maximum value.

[marcosfx]

Whenever I experience problems with finances I prefer to sell some cryptocurrency that I own to solve the uncomfortable situtation.

[Sobol101]

I'm just trying to understand the mentality.

All this is human greed and the fear of losing money. There is also a huge misunderstanding of the market. Now there are many hamsters in the market who do not know what they are doing.

[Nanknink boy]

Many things cause people to do that, mentality, predictions and necessities of life.
but in my opinion, the most dominant factor is the factor of necessity of life, a person needs money to be able to meet his life needs, so he must do that.

[niz3r_nade]

most people do not think long in making decisions, they are more looking for short-term profits though a little profit, then buy back. but if you want to think for the long term, they will get more profits.

[jdeanne92]

They just think of profit. Most of us wants to earn money. If someone sees an oppurtunity to earn some then he/she would grab it without thinking nothing more.

[kucritt]

all this happen because they all afraid that the price is going down to 10 and they will get the big lost, so they do cut loss to makes the lost is not to much, this activity is good in some case but i think hold is the best because we believe that the price of bitocin and other coin will rebound soon

[tikanima]

This is due to the psychology of each person

[Samj16]

Maybe because they are afraid when the price decreases so they want to assure that they will still get a good profit. They did'nt take the risk to wait for the value increases. Maybe for them its already a win win case at least they got a money even in a low value.

[Question123]

The price of the bitcoin when the price is very lpw like that no hubdreds dollars but now look the price is already thousands dollars and they made more profit or most of the people who know and invested bitcoin maybe in the year of 2011 and they hold they will earn a lot of money. But I did not know bitcoin since 2011 because Im teenager on that year and I don't care about my future but because of bitcoin I have a lot goals now.

[marcosfx]

we need to keep waiting because at this moment bitcoin does have this opportunity to get to it’s peak and that’s what all of us so eagerly hoping for.

[walemil]

Don't forget that the weak hands will sell at anytime, whether it is a good price or not. They even sell at a loss once they notice any slight drop in price. But if nobody sells, will there be any to buy? That is what makes a market active. Even an urgent need can drive anyone to sell at anytime.

[blu.storm]

either because they need to buy something or because they are afraid that value can come fall down again

[jpespa]

Because it can also fall back to 10 and below. So even a little bit of rise of price where they can consider it a profit, they will sell it rather than wait to rise up more but unexpectedly fall

[german1080]

each one does with the bitcoin what he thinks could happen in relation to the price in the future, with bitcoin it is difficult to know what will happen in the short term

[West0813]

Why do people hold at 30 when the price could drop to 15?

I think they are afraid to lose their money and they are in panic mode. So they sell their cryptocurrencies even in lower price. Many people are like that in this forum.

[bitcoinVPSD]

The biggest reason I think people want to sell bitcoin at this price is the psychological reason to wait so long. Many people bought it at relatively low rates earlier this year. And they have been waiting for a long time to bring in big profits. with  $ 15,000 price  is quite appropriate for them to sell because of the fear that prices will continue to fall.

[Ravenangel]

Most of us luck the Virtue of patience, we cant just wait to make the money that we tend to utilize every opportunity that presents itself so much so that we miss better opportunities that we would have had if only we held on, This especially applies for the bounty hunters, the moment we  get the rewards all we see is to sell them off and make something off it, if only we could be more patient with these coins we might stand high chances of making the most out of them

[freesia_pnp888]

the reality hits in, that you will never know if Bitcoin could hit 30 - according to your example :O

[ardibimbim]

There are many factors that cause it to happen, and everyone will want to sell bitcoin when its value is high, and that's become everyone's knowledge on bitcoin investment. But in life sometimes someone is faced with a necessity of life that must be fulfilled so must give up to sell his bitcoin at a low price.

[hirngespenst]

July 2011 and now June 2018! 7 Years have gone. We haven't see the 30K Mark, we just have seen 19K Plus. And the sorrow thing is we are now under 8K USD! No one can predict well about bitcoin. It proves by this thread. And my answer is already given here, I wanna add a little more, Why we don't sell at 20-25K USD when the price comes down to 10K USD again!

[joebrook]

the reality hits in, that you will never know if Bitcoin could hit 30 - according to your example :O

It's all about Patience which some people don't seem to have, Most people sell because there may be a slump and others because they believe that they have made enough profits.

[laryillary]

To sell bitcoins makes sense to buy tokens or altcoyins.

[3acaga]

I'm just trying to understand the mentality.

Because the price could just as easily drop to $1 again also.  Because people need fiat currency to buy something.  I personally have no intentions to sell under $18, but people always have reasons to sell.  Everytime you buy a bitcoin someone had to sell it.

The price could not drop to $1 since so many people are actively interested in Bitcoin, unless there is a fundamental problem with it.

Do you have an interesting point of view, and why can not there be a fundamental reason and bitcoin will drop to 1 dollar?
The bitcoin rate will hang like everything in the real world from demand - if it is not interesting it will not be bought.
P.S. But we, as convinced users of the forum know that bitcoin will soon be 30,000 dollars

[jackky]

I'm just trying to understand the mentality.

Everyone can not predict that prices will rise or fall in the future. So the safest method is to sell when you make a profit. If we risk and when prices fall, we will lose capital at any time

[sammyp]

Until we get to know the price at which the seller bought his/her coin, we can not talk much about it. Perhaps some people do not need 30 simply because 15 is already so big a profit for them. Again people sell because there are buyers and it is this activity of buying and selling which propels the market.

[kidamazo]

This called a panic sell, when you are afraid that your money you have invested loose their price you want to save at least something

[yesuidanggan]

I think they will regret their decision very much! No one has the ability to meet the future, maybe BTC was worth so much!

Because I have no faith in BTC, I missed a lot of money! So now HODL BTC, wait for the price to go up!

[imstillthebest]

I'm just trying to understand the mentality.

Everyone can not predict that prices will rise or fall in the future. So the safest method is to sell when you make a profit. If we risk and when prices fall, we will lose capital at any time

We dont loose capital as long as we dont sell our coins, we only loose if ever we sell it on a lower price because we cannot possibly recover it anymore. We need to face the risk of holding in order to earn much higher than we expected but we are also tempted if we already see a big increase on the price of our coins , thats why we ended up selling it for an initial price rather than waiting it for its full peak.

Doing those decision is not a bad idea , instead The worst idea would be deciding to sell your coins on a verry low price in order to cut your losses.

[zamani12]

fear is often times the cause of that. people often believe that if they dont sell they could loose all their investment, hence they sell such that they dont loose all their investments

[atamat]

I'm just trying to understand the mentality.

I think because they need cash so bad, so whatever the price they will sell their crypto and just don't care, all i can say this industry is so unpredictable.

[marcosfx]

There are some investors in this business who bought some amount of bitcoin when it hit its absolute maximum value, and unlike those people, I know I am always safe (and hopefully will always be) from loosing everything since even when the market is very unstable I still have confidence in getting 700% profit from what I put into the bitcoin.

[Masha Me1]

This is our mentality, can people survive what they lose? Everyone strives for a good end to any of his operations, but the risk is always present therefore there is a fear of losing

[Daniel91]

You can't judge other people if you don't know their personal situation.
They maybe have some family urgency situation and need money quickly.
They maybe find some other great business and need money to invest.
Many different reasons are possible, so better don't judge them to easy.
Also, bitcoin market is risky, like every other market out there.

[TimesVeronica]

there are sellers and buy at 30. This is the general rule, order matching trading is the buyer and seller made.

[rindayle]

Many people want to get rich quickly and do not understand the essence of investment. Many inexperienced people are afraid to lose everything or listen to negative sources of information. In order to know what to do with investments, you need to understand the basics.

[Falmera]

I'm just trying to understand the mentality.

Because the price could just as easily drop to $1 again also.  Because people need fiat currency to buy something.  I personally have no intentions to sell under $18, but people always have reasons to sell.  Everytime you buy a bitcoin someone had to sell it.

Yes, it is so difficult to imagine if everyone will hold firm enough to the extent that nobody will sell at a certain time. All will be frozen, stagnant.

[fiulpro]

There are so many factors that makes them sell at 15
Also it's something that's personal and varies from person to person ,
maybe he thinks he have made enough maybe there is a bad need in the family.
Even panic selling
Fraud news
State laws
Banks not accepting widrawls from bitcoins.
We cannot mark a single statement so as why they do this but at the end of the day it's just some personal set of preferences and also offcourse the influence from the market and news.

[yayat]

said a simple question but sad for traders. LOL

it's true Altcoins can go up again but Cryptocurrrency prediction can not be guessed as it's easy to break the chicken eggs directly broke with one hand.
So there are some people who are afraid when the price of cryptocurrency falls and wants to buy the coin in him to go up.

[jpespa]

Some people are impatient that's why they want to rush sell their bitcoin, some are afraid that instead of price going up it's going down actually making their loss bigger. Some people purely want to disengage in cryptocurrency because they don't believe it anymore.

[rexona]

because no one will know exactly the price can reach 30, if all know and can guess the market price can reach 30, surely no one will sell it at 15, if buy at very low price and then can reach 15 it is very profitable, not must wait up to 30.

[Dovie]

For me it is such a three words, a choice, reason and decision making. Every person has a choice making of what they think they can help and what help them to earn good enough. And p we have different reason also in every choice we made. We also have different decission of every choices we have for us to think what is the best thing to do and to less the risks factor that we might encounter.

[135cc]

I'm just trying to understand the mentality.

Maybe because they can not wait any longer to hold their assets and make a wrong calculation about the price.

[Geemy]

This is not the content of the people who sold at the price of 15000. They are much more profitable than those who have remained so far and have a chance to buy at half price

[android17]

because no one will know exactly the price can reach 30, if all know and can guess the market price can reach 30, surely no one will sell it at 15, if buy at very low price and then can reach 15 it is very profitable, not must wait up to 30.

Well thats what you called panic selling. I will regret that much if thats gonna happen to me. But on the other hand no one can predict that the price will be going 30. You think 15 is enough for supporrt for your needs specially in financial or in other.

[Desscount]

I'm just trying to understand the mentality.

everyone does not have the same knowledge, especially the experience, even the need to force it to sell it.
of course this can not make your comparison relevant. even more so on the basis of the recent panic.

[hoaphong5474156@gmail.com]

You have to understand that when they are scared they will not be alert enough. When dozens of information passes to their heads, Bitcoin will reduce that Bitcoin is a scam. They will sell out and immediately the sharks will buy at cheap prices

[Pan Troglodytes]

   
Why do people sell at 15 when the price could rebound to 30?

Well the magic word here is could which really holds no guarantee, you see. It is better to secure your 15 than to have maybe 30 or maybe 5 in the future.

[tee-rex]

I'm just trying to understand the mentality.

I don't know what you mean by 15 here, but the true question inside this question is whether the price could actually rebound to 30. If you don't believe that it really will or don't believe that it will rebound at all, then it doesn't make any sense to keep the asset in question. Strictly speaking, it is not about mentality at all. If people knew for certainty that the price would rebound within their investment horizon, mentality, personality or whatever would be irrelevant as long as we want profits. And we all want profits.

[Jimrch]

They may have some of reasons why they decided to sell their coins instead of still waiting for the price to spike up. One reason is that they badly needed the money right at that moment or they already reached their cap they set for them to withdraw, or they are influenced by surroundings.

[JMD07]

I'm just trying to understand the mentality.

Cryptocurrency is too volatile and this is unpredictable as nothing is sure about the price. It could be a good decision to sell at 15 rather than going down to 1. You can't blame on their decision because in the end it's their money involve. Nothing bad as long as it's a profitable decision.

[ShineftChaos]

I'm just trying to understand the mentality.

There are people who needs fast profit like those who are working to earn cryptocurrency in order to sustain their daily needs, that's the reason why others want to get profit immediately.

[online73]

Mostly sell for $ 15,000 of those involved in trading. People sell for this amount, expecting to buy, for several days for $ 10,000 and below. The same investors who buy Bitcoin for the long term, do not sell at this level. I think the next good sale will be at $ 50,000. Although, I'm generally against selling digital gold, even for $ 100,000. Bitcoin and all the crypto currency market - this is a promising future. There is nothing surprising there, people sell for $ 10,000. Bought for $ 6500, - sold for $ 10,000. Then again I bought for $ 8,000. What is wrong and surprising in this? On the other hand, there are people who do not believe in Bitcoin's perspective, so they sell. But their minority.

[Pan Troglodytes]

I'm just trying to understand the mentality.

There are people who needs fast profit like those who are working to earn cryptocurrency in order to sustain their daily needs, that's the reason why others want to get profit immediately.

And some other may want to sell at 15, to buy the deep that they saw coming to later sell at 30 at even higher profit. There may be as many motivations as there are people selling at 15.

[Gracie12]

In the end, the reason is because of fear, fear that their investment gains are gone, so they will sell after the price rises by half.

[AteenaD]

Impatience and frustration is killing the investors heart and mind and selling their much beloved coin is their way of coping with all the anxieties building. Great fear of losing more is also another factor i am seeing as to why this scenario is happening.

[sunanbonang]

because no one knows what will happen next, when the price is rising next it is likely that the price will go down. most people don't want to take risks or they will buy again when the price is cheap.

[bitcoinerjawa]

in my opinion it is only because traders experience panic that makes the end decide to sell coins at a very cheap price and it can hurt you not to do that.