Taking profits but don't be afraid!

[arpon11]

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday! Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017. I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon! Though, "this is not a recommendations for you to make investments decision"!

[1715126744]

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[1715126744]

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[Slow death]

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday!

fell more than $1000 and knowing the crypto market, this already was something expected. Whenever the price goes up a lot, it also drops a lot.

Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017.

I do not understand why you had to think like this when these big increases and followed big losses were always normal things in the crypto world.

I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon!

probably many people who bought when the price was $8000 should be selling with losses because they think that the price would fall a lot and never returned to the $8000. unfortunately in the market always has a winner and a loser, at the end of the day this is the market

[Reid]

It fluctuates. Better get ready with that as always.
If you are a trader it is a good thing but this kind of large falls should be expected.
The hike run have been continous and it is really getting uneasy when you are in the investment side specially when you love to monitor it everyday.

Although, if you are the hodler type it wont be much of a problem for you. Bitcoin will go large, just need to be patient.

[Adriano2010]

I also think who want to take a profit can take now, but i think the gainers will be the long holders because bitcoin should value way more and if will hit a new ATH then a good profit can be made.

[STT]

It fell 8000 to 6600 quite quickly I saw and there was a reason for this being that 7800 is a support area and was lost.    The 7200 area is the next step where price must decide direction, I have this as the 8 day moving average and once we are below this it will be a more of a bearish phase for the short to medium term.



I havent yet decided what the objective downside for losing 7200 area would be but roughly about 6600.   The main point about profit taking or trading is to pick the highs and low to rebuy again, right now I think 7200 is the high till it can prove it will stay as an area of support.    Longer term the 200 day average is moving up so we are not really negative at all

[Naida_BR]

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday! Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017. I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon! Though, "this is not a recommendations for you to make investments decision"!

I woke up today and I had the same thoughts.
Yesterday, I was thinking if I had to withdraw and cash out some profits or all of them and come back to the market later. I didn't do so and now I think that If I had to I would have made some good profit for this month.

[WinslowIII]

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday!

fell more than $1000 and knowing the crypto market, this already was something expected. Whenever the price goes up a lot, it also drops a lot.

Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017.

I do not understand why you had to think like this when these big increases and followed big losses were always normal things in the crypto world.

I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon!

probably many people who bought when the price was $8000 should be selling with losses because they think that the price would fall a lot and never returned to the $8000. unfortunately in the market always has a winner and a loser, at the end of the day this is the market

So buy high sell low is your recommendation? gtfo with that bs, this is the worst advice ever. Non whales should be hodling and buying between now and end of 2021. Selling and hoping to buy back cheaper is for gamblers and those who are already rich.
I can't believe you would say such a stupid thing after so many examples of people getting killed doing just that. How do you think the people who dumped at $800s after buying at $1k+ back in 2014 never to reenter feel today? this is just one of countless examples of why history tells us - DON'T DO THAT. I'm 100% confident that even those buying the 2017 top will come out smelling like a rose holding for a few more years.

[semobo]

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday! Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017. I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon! Though, "this is not a recommendations for you to make investments decision"!

No need to panic now and we are at better stage compared to the lowest bottom based on that we have good profits even at the current price as well.DOn't be too greedy and also don't be a hit and run trader just aim for the long and high profits.

[crairezx20]

This is normal in bitcoin why we need to be afraid? Look at the price increase from the beginning of the year compared today. It's a small amount while the price already increase more than 100%.

Bitcoin is too volatile we don't know what exactly will happen in next day or next month so if you already make a profit sell before the opportunity lose or sell some every time the price increases so that if the price drop you can buy bitcoins again at the cheaper price then hold. It is just a simple cycle of how to trade in bitcoin if you are not smart you will always lose the opportunity.

[WinslowIII]

This is normal in bitcoin why we need to be afraid? Look at the price increase from the beginning of the year compared today. It's a small amount while the price already increase more than 100%.

Bitcoin is too volatile we don't know what exactly will happen in next day or next month so if you already make a profit sell before the opportunity lose or sell some every time the price increases so that if the price drop you can buy bitcoins again at the cheaper price then hold. It is just a simple cycle of how to trade in bitcoin if you are not smart you will always lose the opportunity.

This works until it doesn't. From end of 2015 to end of 2017 this strategy of selling on upticks and buying back cheaper failed way more often than not. We are still a year away from halving so it's much safer to do now than year of halving, but still carries risk of price increasing from buying back with bitcoin gains.
All I'm doing is hoping for sub $5k coins again to buy more and hodling, selling is out of the question. Most traders would probably call me a retard, but this is the safest way to do it when the next halving is only a year away.

[traderethereum]

That is the courage to stay calm at this moment after you saw the bitcoin price is down deeper while not all people can do what you did.
Yes, we need to hold tight our bitcoin, and if there is a chance for us to buy, then we should buy it at a low price.
But if there are people who want to invest in bitcoin, they need to know that what they need to do is only buy at a low price and then hold it for a while like what we did now.
I am sure they will make a big smile when they see bitcoin price can increase higher later and that is the time for them to take the profit.

[WinslowIII]

That is the courage to stay calm at this moment after you saw the bitcoin price is down deeper while not all people can do what you did.
Yes, we need to hold tight our bitcoin, and if there is a chance for us to buy, then we should buy it at a low price.
But if there are people who want to invest in bitcoin, they need to know that what they need to do is only buy at a low price and then hold it for a while like what we did now.
I am sure they will make a big smile when they see bitcoin price can increase higher later and that is the time for them to take the profit.

Some people think of buying bitcoins like putting money into a retirement account and let the value grow over the years without checking the price often. Others treat it like a gambling device, or a penny stock that has as much chance of going to zero as it has going to $1m. The reason I think the first group is doing the right thing is because of the situation of the world economies and the looming debt crisis that is unsolvable - mostly due to the ability to create fiat out of thin air and stick it on a debt that will never be repaid. It's the hopeless situation surrounding bitcoin that gives me faith in it's future, and this exact situation was the reason for bitcoin being created in the first place.
Bottom line is, what good is making a bunch of fiat from bitcoin trading if the value of fiat is heading to nowhere?

[Ailmand]

Bitcoin has proven us a lot and I guess that's already a reason enough for us to trust it. They always say that the bigger the risk you are taking, the bigger the profit that you will be gaining so we should be brave to invest. The problem sometimes is our emotions. Bitcoin is volatile and it will always go up and down.

[Haunebu]

What is surprising about any of this op? Did you forget that BTC was valued at $20K at one point and fell all the way down to the $3K range? Anything can happen in this volatile market. I am expecting the price to recover soon since this looks like a temporary correction.

[rdluffy]

Man, in the beginning  I was afraid to lose money and I follow market every hour, and it was very stressful
I think every person not used to cryptos is like me in the past

This is completly normal, BTC goes up and then goes down, make your strategy and follow
Only good traders make money selling and buying daily, but this is hard to do, so relax...

[Gozie51]

Though, "this is not a recommendations for you to make investments decision"!

  it is obvious you are not telling anybody to dump or buy more, this is speculation board, sure.

But on the same point and speculation, I would hodl longer, we might have seen a correction today, next week might be a good bull.

[arpon11]

Though, "this is not a recommendations for you to make investments decision"!

  it is obvious you are not telling anybody to dump or buy more, this is speculation board, sure.

But on the same point and speculation, I would hodl longer, we might have seen a correction today, next week might be a good bull.

Thank you for making this observation and explain that this is the speculatives board of this forum.  Inside me I have that believes that bitcoin is going up more in days to come no matter what has happened now.  The more it reset or makes corrections downward the more we should expect the next pump to go above were it fall from.  There was strong support level that seem to hold bitcoin above $7000 currently and that is seeing to be another buying point right now.

[WinslowIII]

Man, in the beginning  I was afraid to lose money and I follow market every hour, and it was very stressful
I think every person not used to cryptos is like me in the past

This is completly normal, BTC goes up and then goes down, make your strategy and follow
Only good traders make money selling and buying daily, but this is hard to do, so relax...

People were sweating buckets when the price was between $1 and $32, can you imagine how silly someone panic selling coins in this range feels today?

[Mahanton]

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday! Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017. I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon! Though, "this is not a recommendations for you to make investments decision"!

This is just like a typical day here on crypto where price can crash or decrease on some percentage overnight.You cant blame people
on not to panic yet seeing your investment dropped will really give out that kind of mood or emotion.If you do believe on Bitcoin
you wont really care at all if you are eyeing for long term aspect but for shorters? Its a big deal.

[BitHodler]

I am expecting the price to recover soon since this looks like a temporary correction.

It might, it might not. I have seen people on Reddit feel disappointed that they didn't buy in the $7000 range before it went to $8000 and now that the price has corrected back to $7000 again, they are gone.

People only regret not having bought after the price has gone up. If people believed it was a temporary correction they would have started buying, but they don't seem to do so.

News outlets blame a faulty trade to have resulted in the selloff that we have seen, but I don't believe any of that at all. It was a legit market sale, very likely side-leveraged on BitMEX for extra profits.