Why I'm Not Ready To Sell My Bitcoins

[hugeblack]

Some people are worried about the current situation of Bitcoin price, many of them are afraid of collapse.
the title above does not talk about the present but about an article 6 years ago and let the writer speak:

Earlier today, the price of Bitcoins rose above $27 for the first time since 2011. That represents a doubling of the $13.50 price of Bitcoins at the start of 2013, which in turn, was nearly triple the $4.75 value of Bitcoins at the start of 2012.

Of course, $27 is not an all-time record price for Bitcoins. The record-high price of just under $32 was reached on June 8, 2011. The price then crashed, falling to a low of $2 in November of 2011.

Based on what happened in the past, imagine how the situation will be after 6 years.
Stop worry and just HODLING  .

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[butka]

Yes, very illustrative of the current situation.

In 6 years from now, it could go something along the lines: "Earlier today BTC rose above $250,000 for the first time since 2024, which is double the price of $125,000 at the start of 2023.... Of course $250,000 is not the all time record, which was  $445,000 for a brief period of time, .... "

It would be cool if that was the situation 6 years from now and everybody complained how low the bitcoin price was, wouldn't it?

[figmentofmyass]

Based on what happened in the past, imagine how the situation will be after 6 years.
Stop worry and just HODLING  .

yeah, it makes sense to keep betting on the trend. why expect it to be different this time? it probably won't be.

but out of curiosity......what would it take for you guys to give up and sell? if we broke the 2013 ATH (~$1200) or the 2015 bottom (~$150) would you still be bullish?

[MetalGear]

There are many reason why i'm not ready to sell my bitcoin. First, I do not want to cut my losses and once I sell it I will lose huge amount of money. Second, this current situation of market is not good for selling bitcoin. Lastly, So I will wait for another bull run that moment I will sell my bitcoin.

[mrdeposit]

Honestly, it is impossible to know how price will be and I am undecided about it. Currently, the most necessary indicator that can predict the price can not help. And considering that this is cryptocurrency, do not know when it is going to be okay. I also think the price will be better, but I do not know when it will happen.

[peter0425]

Some people are worried about the current situation of Bitcoin price, many of them are afraid of collapse.
the title above does not talk about the present but about an article 6 years ago and let the writer speak:

Earlier today, the price of Bitcoins rose above $27 for the first time since 2011. That represents a doubling of the $13.50 price of Bitcoins at the start of 2013, which in turn, was nearly triple the $4.75 value of Bitcoins at the start of 2012.

Of course, $27 is not an all-time record price for Bitcoins. The record-high price of just under $32 was reached on June 8, 2011. The price then crashed, falling to a low of $2 in November of 2011.

Based on what happened in the past, imagine how the situation will be after 6 years.
Stop worry and just HODLING  .

Yes, but I guess it will be a big mental challenges for everyone to really HODL even for the next year or so. So it boils down as how you going to react on the next leg down or leg up. Are you going to sell when the price goes < $3k and then come back again?

[mindrust]

This is the time you should be buying, not selling. The Mayer multiple is as low as 0.69. (The average is 1.39) If you are selling now you are basically burning away your money.

Hodl and buy more.

[buwaytress]

Nice post, hugeblack. I actually have read many just like that and there are of course some stark differences in comparison, but these same differences have always given me cause to believe that we've actually seen worse before. That crash of over 90% from ATH within months is the biggest difference in your example: people were talking of capitulation and Bitcoin's death and yet the bears have struggled to tear price down to even 10% of ATH... now more than a year ago. If that's not proof of resilience from experience, I don't know what is.

[Supercrypt]

Even tough I have huge belief that bitcoin will be way way more than 20 thousand dollars one day this is not exactly the reason. Just because something happened in the past doesn't mean it will also happen in the future as well.

Bitcoin did went up and down multiple times in the past from 32 dollar to 2 dollar and from 1400 to 250 dollars and from 20 thousand to now 3 thousand dollars I am sure we will also go back up this time but not because it once happened so it will happen again reasoning but because bitcoin actually helps improve the world and money transaction systems so much that it worth a lot for people to just buy and send each other bitcoin instead of using the traditional methods, so when people realize bitcoin is actually a better money sending/receiving method than anything else and stop focusing on how "bitcoin will increase so much we will become rich!!" parts of it, only than price will go up.

[bitbunnny]

Now it's not the good situation to sell Bitcoin. The price isn't favourable unless you haven't bought your coins under current price on the market.
Don't ever forget that Bitcoin is volatile and that price will not always be high but sometimes you should make your decision and think on long term how your investment will look in the future. It's always better to have broader picture and not to look at the Bitcoin only from the short term position.

[Heisenberg_Hunter]

Right back in 2009, when Hal was speaking with satoshi after a few days he mined the genesis block, he assumed that if Bitcoin was successful the total market value would surge to as high as total wealth all over the world. Though this seems to be an over exaggerated statement from Hal, we the early adopters believe that this isn't the price the bitcoin would be in future considering it's mass adoption and the on-going developments in the bitcoin space. Volatility could act as a barrier to adoption but we are still in the early days of bitcoin and there is a lot to come as the year rolls.

We don't need to restate what has already been written in the history to the haters or panic sellers. We should be aware that people often compared dot com to the tulip bubble mania. But today almost every one of us are buying something from eBay or Amazon. People believed Amazon or other dot com companies which relied on internet (such as bitcoin does) doesn't physically exist and the bubble would burst quite sooner.

The market during the 2017 hype were completely driven by FOMO and newbie investors just buried their head in the darkness without knowing the technology which drives them. This resulted in downtrend losses and labelling the digital money as a get rich quick scheme. These guys clearly lacks the basic knowledge and need to get rich quicker. The mtgox panic sellers were the real losers who didn't know the price would reach sky high while the one HODLing during extreme conditions (such as something prevailing now) are the real smuggers who believe in the technology and not in the hype.

[Lucius]

Let's say there are people who even sell today and we can classify them into several categories :

• Early adopters.
• Those who need money and have no choice.
• Those who think it is smarter to sell and invest in something else.
• Those who have no idea what is happening.

For those outside of these categories now is the time to buy since they know the history of bitcoin and it clearly shows that despite corrections and bull markets, price (lowest) is always get higher then before. Six years from now and two halvings more, I can only say that many will wonder why they were not smarter back in 2018/2019.

[Upgrade00]

I am very positive of huge leaps in the price in the coming years.
There is a very limited supply and as such only a certain amount can be in circulation. If bitcoin is to be used as a global currency, the price has to grow enough to allow it that even one satoshi would has a significant value to enable circulation.

[gabmen]

Some people are worried about the current situation of Bitcoin price, many of them are afraid of collapse.
the title above does not talk about the present but about an article 6 years ago and let the writer speak:

Earlier today, the price of Bitcoins rose above $27 for the first time since 2011. That represents a doubling of the $13.50 price of Bitcoins at the start of 2013, which in turn, was nearly triple the $4.75 value of Bitcoins at the start of 2012.

Of course, $27 is not an all-time record price for Bitcoins. The record-high price of just under $32 was reached on June 8, 2011. The price then crashed, falling to a low of $2 in November of 2011.

Based on what happened in the past, imagine how the situation will be after 6 years.
Stop worry and just HODLING  .

Well that's something to lift the spirit lol. But there are many factors today that aren't there during those times. Most people don't even know the existence of bitcoin then compared to now. It's going to be more challenging to repeat history with bitcoin now receiving all these blows from mainstream media and big names in other industries. But let's still  hope for the best.

[thecodebear]

No one in their right mind is selling bitcoin right now unless they hope to get lucky with a very marginal drop to buy back in. Smart money is accumulating.

It is inevitable that in the years to come you could write a similar sentence as that quoted from 6 years ago. In two or three years there will be tens of millions of people wishing they had known about bitcoin (or known enough about it) to buy back in 2019 when it was only three or four thousand dollars, or even like $10,000. By 2025 (6 years from now) you'll probably have people hitting themselves for not buying bitcoin when it was only $30k or $40k or whatever after the next crash. This scenario will continue to repeat until bitcoin is well known enough so that most people have some bitcoin, which is when the market matures and we'll stop seeing these regular exponential booms and busts.

[magneto]

I don't necessarily agree with this method of speculating. Looking at something that has happened 6 years ago doesn't mean it will happen again.

But you're absolutely right in terms of not panic dumping. I think that it is extremely dumb for anyone to be selling at this stage, because it is apparent that prices are nearing bottom if not already seen the bottom at the lower $3k zone. To me, the flood of institutional investors simply mean that bitcoin is undervalued at this point, with potentially improved fundamentals as well.

With prices below $4k and market sentiment still being bearish, I don't see any reason not to buy if you do have the spare funds to do so. The mainstream media right now is calling bitcoin's death, which is always a sign that the trough is nearly here, if not passed.

[1Referee]

Same cycles, same reactions, the only thing different is the price, and that we're now actually enjoying some fundamental growth, which wasn't really the case in the previous years. Back in 2015 people had way more reason to freak out and speculate about the end than is the case right now. People calling themselves hodlers are exposed when the price tanks and they start complaining, which we've seen back in 2015 as well.

In the end, I don't focus on the peaks, I sell them. What matters is the price development from bottom to bottom, because bottoms here indicate the end of a massive speculative cycle, and thus a fair reflection of the price. Current price of $3500 isn't low. It's just about fair.

[Oceat]

The greatest investment will cost more time to grow in the future and that is what Bitcoin right now. Imagine if that price was the same as today, is there still a trader would want to invest at Bitcoin? Those people who adopt Bitcoin at an early stage or mined it i think they were the whales right now. Hodl more Bitcoin if the market is in bearish trend to make a profit in the future.

[vintages]

True!  I believe as a cryptocurrency  investor we all should have brace up ourselves and be ready to accept anything because this market is unpredictable yet have a brighter future. Last year many of us were expecting a massive increase but where dissapointed and sold off cause more dip.
I personally feel 2019 is a significant year for Bitcoin. It all about been patient enough.

[Tstar]

Let's say there are people who even sell today and we can classify them into several categories :

• Early adopters.
• Those who need money and have no choice.
• Those who think it is smarter to sell and invest in something else.
• Those who have no idea what is happening.

For those outside of these categories now is the time to buy since they know the history of bitcoin and it clearly shows that despite corrections and bull markets, price (lowest) is always get higher then before. Six years from now and two halvings more, I can only say that many will wonder why they were not smarter back in 2018/2019.

I could add another category - people who invested early and now want to cash out profits to less speculative actives. Last time I bought was ~300$ or something like that. I've manage to sold some on $17K (not enough...), but now I'm selling to make down-payment for few touristic properties. Much less speculative.