I sold everything

[fishbonez11]

Bitcoin is not for everyone. It is extremely volatile and very speculative. Arguably, the trend towards higher prices will continue, but at some point there will be a crash. I think the crash -- the big one -- is a long way off, though. Diversification is key.

Well said. There are other people also who sold everything and invested in bitcoin and now they are not regreting anything. But at this time, where the price is already high, and there are many other alternative currencies, we cannot assure what the future holds for us.

[BingoDog]

Personaly I think it's mistake to sell everything but everyone decides for himself. The truth is that we are not all in the same positio, didn't enter the bitcoi world in the same time, don't have the same experineces, golas and expectations etc.
I can understand that someone who bought bitcoin at 16.000$ or 17.000$ has started to panic when the price in a moment dropped below 14.000$. But on the other hand it's good to inform yourself more about bitcoin history and how it's functioning. There is always a risk and no one has told that the price will rise all the time. But again, everyone decides for himself.

[xhoondilan]

I think thats the right thing for you to do, but in other cases some people may not give up on bitcoin yet although its very low now, so when time comes that the value of bitcoin today will be double then you would say that" you shouldn't sold everything", but that is what bitcoin is, to risky to have and its either win or lose in the end, so think wisely on your actions in btc.

[Pursuer]

first I want to say this (because I think many people that feel bad will read this as well) :

the first thing you should have done was to explain why did you even share this publicly? why should you announce what you did with your money to the rest of the world?

Then you google and google and wonder....WHY? Why did it go up a lot. Why did it go down a lot.

you need to know what to look for, and it is not always found on the internet!
it is not like someone is sitting there publishing the reason for every single bitcoin movement on the internet so that you can read it.

it is simple market dynamics. the adoption is growing so more money is being invested in bitcoin. as a result price goes higher. but (just like any other market) whenever price goes up it needs to come down as traders sell to take out their profit, and in bitcoin because it is small and full of newbies who listen to FUD, the corrections usually become bigger than normal.

[demesmaeker2]

I actually just did the same thing. I believe also that Bitcoin is for everyone. And as the price of Bitcoin continues to go down I decided to sold everything for a while but will not cash out from my account. I predict that it will go back up soon, hopefully first quarter next year. And probably I would buy bitcoins again when I feel that the time of rising back is coming. That's just how trading works. Even in stocks. Buy low sell high is the basic principle and that's what some did. It is not we do not believe in Bitcoins.

Could not have written it better.

[nexus2k14]

You need to learn few things before being successful in the crypto world. First thing Bitcoin price like any other cryptocurrency is very volatile and unstable for a longer period of time.
Some people can't stand this ups and downs and give up, but if you invest the amount of money you feel comfortable to risk and check price less frequently like once a week then is more easy to live with that.
I broke the first crypto rule and sold too early my project back in 2015, didn't even need to do that, just impatience after 2 years of waiting took over, and DEV was good, the community too just impatience.
I know is hard to watch price changes and even more to see when you could make a 500.000$ profit but just missed this opportunity.
Now I am back a few months ago and this time I HOLD. So far is very promising and I will keep until I reach 100K-400K and will accumulating when I can if my choices are profitable.

[Keihatsu]

I cashed in 2 days ago too.

Most of my investments where held for 6 months+.

Signs the bubbles was about to pop:

Jump from $500 billion to $620 billion market cap in a matter of days.

Coins with little technical merit, no product and no utility reaching eye watering market caps.

Charlie Lee selling his LTC.

ICX not taking off as expected / hoped.

Bitcoin making national / international news on a daily basis.

I'm sure there's other stuff too. But it just didn't feel right.

[TheGodson]

Oh man. This is the time to buy my friend. The market is down 20% in a single day. I can understand selling if you made a profit, but if you are exiting at a marginal profit or a loss then that is a mistake. Could Bitcoin go down to $1000? Possibly. Only time will tell. I think it will go back up though. It may even surpass 20k like we all were dreaming about.

[mast3rm1nd]

no one has ever claimed that bitcoin is different from what you've talked about. it is extremely volatile and unpredictable. if you can't handle that don't risk it.

[DarLim11]

  I think selling some bitcoins due to its sudden decrease in value is good, it can prevent profit loss.
Specially if you did invest on it, you don't want to lose your money. But selling all of them is not a good idea.
Keeping some bitcoins is a great option, when the value of bitcoin rise again you will still have something to sell again.

But decisions are just a matter of preference of how did you obtained the bitcoin in the first place...  BTC  BTC  BTC

[demesmaeker2]

I wonder why people keep writing "if you cant handle it"
If I make a decision to sell, it is not "because I cannot handle it"? I find that conclusion very strange.

But maybe I am interpreting that word combination the wrong way.
To me it sounds like "Ohhhh I cannot take it any more.. my life is going down the drain"
In  that context I would write "I cannot handle it any more"
But since English is not my language, I might be wrong here.


So.... I can handle it   I sold Everything. I am still happy. Maybe it was good, maybe it was bad. Time will tell.

Demesmaeker




Even though it is not always possible to google the answers to all the changes, I think it is still a good idea to TRY to understand why things are happening why they are happening. To make sence of it all in my head.

I am sharing my thoughts because Ithink it is always a good thing to share thoughts and ideas. Even in times when they are not that "welcome".
It can not always be summer (certainly not here in Sweden)

Sorry that I am not answering everyone. Since I am new at the forum I am limited with the number of answers.

[DimaS1574]

I also did not invest any  life assets  into  cryptocurrency  bussiness, just only my  time - so anyway I am in profit, and volume of this profit  depends on bitcoin and etheriu, value

[Vannie12]

Here is an example that we should not blame it all in the system causing too high fees and slow transactions. Because some holders can't actually handle the volality which may result to dumping their own coins causing big movements in prices. Such actions like broadcasting slow transactions, panic selling, and high fees are true yet causing negative feedbacks to the market itself.
It's normal. We only have limited stock and that is just circulating within the markets and the holders.
They spend and prices go completely down.

[Fantastic33]

Bitcoin is very volatile and is very unpredictable. So we must be very careful on our decisions.. we should not also panic when the price is low just like what is happening this week..also we must not be affected by any bad news about it.

[amishmanish]

I cashed in 2 days ago too.

Most of my investments where held for 6 months+.

Signs the bubbles was about to pop:

Jump from $500 billion to $620 billion market cap in a matter of days.

Coins with little technical merit, no product and no utility reaching eye watering market caps.

Charlie Lee selling his LTC.

ICX not taking off as expected / hoped.

Bitcoin making national / international news on a daily basis.

I'm sure there's other stuff too. But it just didn't feel right.

Good analysis. I too had plans to cash out a little. At least the principal amount but somehow held on because I really didn't want to sell. If i could afford to put more I would. The technology and its potential is so exciting that i really want to have a stake in it someday, however small it maybe in monetary terms.
Thats the reason I really am not selling. I only see my tokens/ cryptos as little potential pieces of future all held together on a distributed network. I find that exciting and really just want to invest more in learning about it.

I think if that is how you view the crypto space and general and bitcoin in particular, you don't need to sell.

Op sounds like you are interested in the tech yourself, so yeah, try to find time and immerse yourself in it a bit. There is a whole world out there and there is free lessons fro everyone in this. The range of Subjects is right from Math and Computer science to Marketing, Politics and human greed.
Exciting eh!

[demesmaeker2]

Bitcoin is very volatile and is very unpredictable. So we must be very careful on our decisions.. we should not also panic when the price is low just like what is happening this week..also we must not be affected by any bad news about it.

But I think it does affect people. Just as much when someone writes "Yippiieeee I made again lots of money thanks to x-coin"
Both good and bad news makes people make up or change their mind.
I think this is natural.

Of course it can go up and down like crazy. Everyone can see the graphs of the past and look up how it went.
Now it went so bad that it is worth to talk about. (Yes, in  my HUMBLE noob-opinion)

Some people write "Best to wait", but to be honoust,.... Those who write that cannot bet their lifes on it that it is best to wait
Because if one can be certain that it will go up again (100% !) then everyone could put everything they had in it and make lots of money.

No certainties... at all! That is how I see it.

But that is just my two bitcoincents.

Have a nice day to all of you. Have to go to work now. Will read all the comments that come afterwards tonight

[TTITA]

Hi there,

first I want to say this (because I think many people that feel bad will read this as well) :

I think it that the price of BTC will go up again.. I cannot be sure, noone can, but it will probably be ok again.

But....I sold everything... My cryptocurrency that is
The reason is that I can not grasp the reason of the cause behind the value changing so much whenever it happens.

"ooooh now it went up a lot"...
"aaaaah now it went down a lot"

Then you google and google and wonder....WHY? Why did it go up a lot. Why did it go down a lot.
Sometimes you can find out about some guy with influence that said something on a conference on the other side of the World.
Sometimes it is because a site like coinbase made a mistake or introduced something new..

If lots of people buy, it goes up.
If lots of people sell, it goes down.
I understand...

But if I look at the big picture, it is still a mystery

So..while I still had a little bit of profit I sold everything.

I did not put in my life savings, but still enough to make me feel bad if the bitcoin would go down a lot more.

I also have to think about taxes (I hate doing taxes!). Here in Scandinavia I have to write down everything. All the order numbers, the amounts,,.... I will take me hours of looking up how to do it properly.
And then I have  to pay 30% taxes over the profit because they validate the bitcoin like a lottery here (and I see the resemblance as well!)
I also bought it from websites from other countries and then the amounts are of course in the wrong valuta... .....horrible.... 

I wish all of you "bitcoiners" a very happy 2018. May all of you have profits!! (I feel like a ferengi all of a sudden)

And ehh...I probably will be back again. Just like a lottery, it is a bit of a "kick" one can get out of having a profit.

Demesmaeker

I know it's very difficult to decide when bitcoin got crash, would to sell or hold.
But, this has happened repeatedly when Bitcoin cash in pump and bitcoin fell before.
Investing in Bitcoin is there for a discussion, if you believe you will not be able to increase the price.

[charlescoin]

While you may regret cashing out at some point in the future when bitcoin goes up way higher I think it will save you so much stress that you did it now. Watching the live prices all day long is really nerve-racking.

[Kez1817]

     Well,its your choice to sell everything. I hope your right and you will not regret at the end. You will see bitcoin price will increase again,always put in your mind that bitcoin is volatile.

[orions.belt19]

Seeing the hassle that OP would have to go through, it made me understand his decision. So long as he profited and he's happy with it, then there's no loss in that. As he have said, it was as if he won the lottery. I'm glad my country doesn't make it hard for me just like how it is in Scandinavia. Also, since no one can really tell whether bitcoin will go up or down, might as well reap your rewards and to enjoy it while you can.