dothebeats
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May 26, 2019, 04:22:06 PM |
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I don't know if I successfully managed to do what you said, but thankfully I was able to make a decent living out of buying in and out of the market with no overly-greedy target in mind. I first sold @ $2900 and bought back @ $4300 before letting it all go @ $17000 and calling it quits from there. Right now, the coins I bought @ $6000 and $3000 are all in profits, and I am calling it done once price breached $8500 or so. The thing with people is they want to have it all, without regard for the different actors and factors at play in the market, ending in a rather unpleasant way for them, e.g. those who bought at the top of the 2017 ATH.
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franciscoDC
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May 26, 2019, 04:31:05 PM |
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The strategy is never to stop investing with bitcoin. When there is a dip that can be an opportunity to buy more and when the price goes up cash in and make some profits. Unfortunately, many people are actually not interested to do this for many reasons. Some do not have the time and some are not really inclined to be investors as they were just hyped into bitcoin. One thing is sure if there is a will there will always be a way...and this is quite true with investments.
That true that if you have willingness you will do everything either the price of bitcoin is totally down or not if you are truelly investor/supporter you will do something,strategy are everywhere so you need only a smart perception about it to get an profit.
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Ucy
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May 26, 2019, 08:27:57 PM |
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Totally agree with you. We need gentle rides to the tops and bottoms not unsustainable extreme movements. I believe merchants won't have problems with cryptocurrency with mild fluctuations. We should have some degree of certainty.
Wish there is a decentralized algorithm that can keep price movements mild and a bit predictable.
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1Referee
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May 26, 2019, 09:00:45 PM |
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Ps. Also remember to spend at least 20% of all the coins you buy, to feed the merchant network and use case for Bitcoin, or it will die as a currency.
Meh. I'm not going to force myself to spend Bitcoin just for the sake of spending it. I use what I consider to be the best option, which one day might be fiat, and the other day Bitcoin. I would however be more motivated to spend through Lightning considering that it offers more privacy than on-chain payments. On-chain payments require me to first mix them, which isn't a problem doing so from time to time, but not really pratical for use on a daily basis. Lightning makes life way more easy in that aspect, and it's more convenient than any other centralized payment option. The only downside is that it doesn't have as much adoption (yet).
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BitHodler
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May 26, 2019, 10:25:11 PM |
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I can't blame people for trying to work their way up on the financial ladder. Those who joined this market under $10,000 last year probably thought that it was normal for the price to keep increasing rapidly.
Greed that they very likely never before dealt with suddenly takes them over completely. As long as the price keeps going up they gain confidence and become more greedy, but these pumps don't last endlessly.
The correction that followed afterwards was a shocker to them. For the first time since they entered this market the price didn't do what they wanted it to do, and that continued throughout the whole year of 2018.
Good thing is that going through a bear market makes people stronger and become firmer hodlers. It's a costly mistake, but one that they no longet have to make in the future.
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BSV is not the real Bcash. Bcash is the real Bcash.
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kaya11
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May 26, 2019, 10:42:44 PM |
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So many people have experienced the last all time high of a Bitcoin price high above $18 000 in 2017 and they invested loads of money into a dream of a better future, if the price goes back to $18 000 or much higher than that. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Now, I am not saying that there is something wrong with having those dreams of making massive profits and funding future projects, because it is still a possibility. I think the focus should rather be for us to take baby steps to that goal and the way for us to do that is to take small profits when the opportunity presents it self. The concept of buying low and selling high is as old as the mountains, but it is just as affective if you do it more frequently. The Bitcoin price has recovered from the all time low with more than 20% and many people are waiting for it to bounce back to 60% or 80% before they start taking profits again. If you were one of the unlucky people who bought in at the all time high, you obviously have to wait for the price to recover to your entry price to break even or to make a profit when it pass that price, but there are enough volatility now to get in at a new low price and then taking small profits based on the smaller recovery increments. If you re-invested at say $5000 and you sold lately at $8000, you could have reduced your precentage loss for the investments that you have done at a buy in price of $18 000. <If you do not want to wait for the $18 000+ price to come around again> A buddy of mine has done this and he wiped out his potential loss within a few months, by simply buying in low again and selling at more frequent intervals. Ps. Also remember to spend at least 20% of all the coins you buy, to feed the merchant network and use case for Bitcoin, or it will die as a currency. I am really using Bitcoin as a payment now, even accepting Bitcoin as a payment also for my business. In the near future if we manage to build our new business of a small restaurant then it will also be a crypto friendly environment. I guess that could help the merchant network and supports the Bitcoin as a currency. I hope some small time business also in my country will follow, that way mass adoption could be accelerated.
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Adriano2010
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May 26, 2019, 10:53:52 PM |
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I also use bitcoin for payment where is possible, and i hold some but i will not sell for low price and i also want to get a good profit in future if is possible for bitcoin if i sell, so i can change my life in better.
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Indrawan77
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May 27, 2019, 12:47:51 AM |
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Bitcoin got a huge potential to rise again and it could be very valuable in the future, but not all people got the time and experience to trade, the best thing they could do is investing and hold for a long time, I personally believe that we will reach another ath in few more years, investing in bitcoin is better than investing in stock or other fiat investment
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Kakmakr (OP)
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May 27, 2019, 06:13:27 AM |
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The thing with these wild spikes in the price is the long-term damage that it causes. People jump into the market when it is at a ATH and then when the long correction phase starts, they get frustrated with the long waiting time to recover their investment or some profit on their investment capital. A lot of these people never invest in Crypto currencies again, because they feel cheated. They blame the technology for their own greed and lack of understanding of market analysis. <timing the low and high entry points> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) The easiest way to reduce the "waiting" time, is to re-invest in the "recovery" time and to get some short term profits on the way up. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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nicolaz.zhu
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May 27, 2019, 07:23:35 AM |
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Even though I was caught buying at a price of $ 14,000, I didn't immediately let go of selling, because I didn't want to experience a big loss. Because I'm sure bitcoin can exceed the price when I buy.
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Pursuer
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May 27, 2019, 10:10:33 AM |
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the way I see it is that with bitcoin I get the opportunity to be a part of this big revolution that is happening in our time and at the same time enjoy the financial freedom that bitcoin as a decentralized currency is offering me among other things. on top of all that, bitcoin has an additional benefit which is its value that keeps on increasing mainly because we are still in the early stages of its adoption and we are considered as the "smart money" in that popular S shape curve that shows the big rise and the bubble that follows that.
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Only Bitcoin
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Al-e_x
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May 27, 2019, 10:20:52 AM |
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I think you're right. Most of us are greedy to get high profits to get a lot of profits. We all think of investing $ 100 to get $ 1000 in a few days
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waynechong1995
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swing!
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May 27, 2019, 10:58:43 AM |
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If you know how to make money ups and downs are all opportunities, but for low volume buyers it's all about arbitage trade unless you are super lucky or smart on small pumps. Some argued a long hodl does return more on a full recovery, but I believe lossing a little makes more than just money as you wouldn't how to react when market go against the trend suddenly. There's not really ATH in such market, taking profit is priority for me for accumulations, better position through keener speculations
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pundit
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May 27, 2019, 02:08:42 PM |
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That is true that losses can be recovered if one takes small profit at every small run but the problem is its very difficult to predict where we should book our profit.Suppose if someone has bought BTC at $4500 and book his profit at $6000 then it may be regretting for not waiting BTC to reach $8000. Taking trade is easy but managing it is too hard. If someone can analyze levels, enter and exit at right points then not only he can recover his loss but he can earn good profit as well. If some can catch the levels perfectly then he/she would avoid to enter at highest point.
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gentlemand
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May 27, 2019, 02:13:29 PM |
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I'd love to know how many people have put other areas of their lives on hold with the expectation of crypto getting them out of the hole they're in. I'll bet it's more than a few. It's understandable to feel that way but if you take a step back and think it over it's a pretty situation to wind up in.
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Siren
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May 27, 2019, 02:38:31 PM |
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Yeah right mate,making those decisions can brings us to semi long term holdings when we are buying at low and Selling in at least 10-40% profit so if we ca make this for 3 consecutive profit it means we have almost a 100% by that time?enough to cover the future losses if we fully invest and wait for long term That is true that losses can be recovered if one takes small profit at every small run but the problem is its very difficult to predict where we should book our profit.
That’s what I am pointing mate,smaller profit can be big if we get the rhythm of proper buying and selling(though you are right,this is very hard to achieve)
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uray
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May 27, 2019, 03:06:35 PM |
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Very correctly written, but I think not everyone thought in that sense. Buy low and Sell high. Most of them who had bought Bitcoin are still Holding or they have written it off as Bad investment. Only few might have bought it back at $3500 - $5000 level. Those who did buy at that level are either professional or smart investors. It not so late for anyone to cover some of the losses, you can still buy at this level and wait till the end of this year.
People who got stuck buying at an all time high valuation have no other option than to hold for a longer period of time and if they had the patience to hold this long, then there is no point in selling off for smaller profit margin and playing with the market situation as the risk is really high when it comes to bitcoin as you never know when the price will rally, if possible purchasing the coins and averaging out the price is a good idea, other than that keep for the long haul and then sell when the market is on a big rally when it touches another all time high valuation.
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arpon11
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May 27, 2019, 06:40:37 PM |
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So many people have experienced the last all time high of a Bitcoin price high above $18 000 in 2017 and they invested loads of money into a dream of a better future, if the price goes back to $18 000 or much higher than that. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Now, I am not saying that there is something wrong with having those dreams of making massive profits and funding future projects, because it is still a possibility. I think the focus should rather be for us to take baby steps to that goal and the way for us to do that is to take small profits when the opportunity presents it self. The concept of buying low and selling high is as old as the mountains, but it is just as affective if you do it more frequently. The Bitcoin price has recovered from the all time low with more than 20% and many people are waiting for it to bounce back to 60% or 80% before they start taking profits again. If you were one of the unlucky people who bought in at the all time high, you obviously have to wait for the price to recover to your entry price to break even or to make a profit when it pass that price, but there are enough volatility now to get in at a new low price and then taking small profits based on the smaller recovery increments. If you re-invested at say $5000 and you sold lately at $8000, you could have reduced your precentage loss for the investments that you have done at a buy in price of $18 000. <If you do not want to wait for the $18 000+ price to come around again> A buddy of mine has done this and he wiped out his potential loss within a few months, by simply buying in low again and selling at more frequent intervals. Ps. Also remember to spend at least 20% of all the coins you buy, to feed the merchant network and use case for Bitcoin, or it will die as a currency. You are thinking like an intra-day trader and those that desired to play safe in case what is speculated do not happen, do trade in this way! The market has Rewards many of us here that wish to hold for long-term and I think there is no any form of investment that has given good returned for the past three years like bitcoin and crypto market! It is good to take profits with little increase in price but that may not make you rich but if you can buy when bitcoin was down in the past and hold for the next three to five years? That is what will make you to be rich and that is a very high risky thing to do.
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maxreish
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May 28, 2019, 05:02:31 AM |
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If you were one of the unlucky people who bought in at the all time high, you obviously have to wait for the price to recover to your entry price to break even or to make a profit when it pass that price, but there are enough volatility now to get in at a new low price and then taking small profits based on the smaller recovery increments.
It's quite funny but true. The time when I wasn't really aware how things goes by or how to buy btc, I bought it at high price and suddenly it dumped and for so many months it tested my patience since I've been waiting for my investments to recover. When there is small profits, I am still hodling until I get back what I lose. Sometimes, it is better to dream in an optimistic approach like seeing btc's price to be around $20,000. It's nothing wrong if we conclude on that way. Anyway, this is cryptocurrency and it is possible to reach that amount.
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Kakmakr (OP)
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May 28, 2019, 05:49:11 AM |
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I'd love to know how many people have put other areas of their lives on hold with the expectation of crypto getting them out of the hole they're in. I'll bet it's more than a few. It's understandable to feel that way but if you take a step back and think it over it's a pretty situation to wind up in.
Even worst, how many great Crypto currency projects was put on hold, because of this huge drop in the price. ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) People should not allow the drop in the price to influence their future, they should act proactively and re-invest as quickly as possible. If people invested in the beginning of this year when the price hovered between $3000 - $4000, then they would have doubled their money in 6 months. Yes, it is nice to look at this in hindsight, but you have to take risks to reap the rewards and all the signs was there that it would recover again. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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