I saw the notice that Bitcoin surpassed 9.000 USD! Help about "FOMO"

[starboss]

Hi there... I saw the notice that Bitcoin surpassed 9.000 USD!

I know the ideal was to have bought in past, in "low" price to sell now in the "high" price... But, I'm entering in Cryptocurrency exactly now and I feeling "FOMO"....

My main goal is to do "Holding" of Bitcoin and good Cryptos, but in this moment I would like to take some of the profits to redeem in my wallet to already help in future "Hold".

As I am starting now, I want to know your suggestions, because I intend to invest now to take advantage of some of the gains from this high...

Calculating risks ...

1. I think buy Bitcoin in 19/06/2019
2. Keep following closely the gains and notices about Bitcoin...
3. Constantly transfer just the profits of BTC to my Bank Account(Fiat money) (to save, to avoid eventual losses on "correction" of the market).

That's a good idea??

What do you think? What would be more appropriate to do to take advantage of this momentum?


Sorry the bad english, I'm from Brazil.  

[Lucius]

You should not have to be influenced by FOMO, you have not missed anything, and the current price is quite good for some long-term investment. Ask yourself what do you want achieve with investing in bitcoin, how much profit you want to achieve and how long you are ready to wait for it?

Since you have idea for holding and in same time to trading daily, just invest some money and divide bitcoin for holding and trading. But do not be too fooled with the idea of a constant profit, traders can make profit, but they also have losses. An inexperienced trader can lose all the money in the blink of an eye. Cryptocurrency is very risky investment area, especially when it comes to trading.

[BlackFor3st]

Your strategy is not that bad but what I notice from your post is that you are still afraid of what you are going to do and you want to play safe as possible.

Do take note that once you will put your money in any type of investment, there is always a risk therefore it's better that you know what you are doing. Though buying btc right now is still a good idea as the price is still moving forward but cashing out your earnings to avoid a huge amount of loss is not a good idea for me however if you are still a newbie then your plan is not that bad.

[CoinCodex]

Bitcoin still remains bullish, after the last run over $9K. Read more in this short TA:

https://coincodex.com/article/3828/bitcoin-price-analysis-btc-continues-rising-after-8900-retracement-rsi-remains-positive/

[masphie]

If you want to buy bitcoin at 19/06/2019 i think its fair, but... my advice is, maybe you should wait for next week (23/24 june).
Because that's day is the last day for this week.
If you don't want to wait, you can buy bitcoin in this day. In condition, you must analyze the bitcoin movement last week.

Thats just my opinion.

 

[mk4]

In a trading perspective, of course, taking profits is almost always a good idea. But think about it. With your strategy, you would need to time the markets well, for you to be able to buy at lower prices and sell at higher prices. What do you think are the chances that you're going to pull this off continuously? Remember: a lot of people(probably majority) are crap at trading.

Don't let this discourage you though. My point is just that you need to think about your strategy a bit more.

[ioanbtc]

Is still a good time to buy now and cashout profit when possible and buy again, but for your strategy you will have to buy and sell when grow to get the profit and again you will need to wait for price to go down after have fiat money, try it and see if work.

[onecall123]

Well, now Bitcoin looks pretty awesome! Just hold on, you will be fine! FOMO traders don't have a clue what bitcoin is, always in a dilemma. To make money you have to sell at some point, depends on what your goal is. Utilize your strategy, there always somebody attempted to misdirect individuals that Bitcoin is a pump and drop scam.

 

[Kakmakr]

It is obvious that you are not into Bitcoin to use it as a currency, because that is actually it's main purpose. Yes, it sometimes spikes and then you can make a shitload of profit, but you can also wait 2 to 3 years for that to happen or it might never happen.

A lot of people are always asking the same question, which is.... "When is a good time to buy" and the simple answer to that is that it is always a good time to buy, because nobody knows what is going to happen in the future. 

Just jump in at any time and wait like the rest of us for it to go mainstream. 

[rdluffy]

I saw your topic on Portuguese section, here you will have more answers
Read everything, try to understand all before put your money on cryptos
With more knowledge, you'll be more confident to invest your money

[CryptoStashed]

I'm suffering from FOMO as well because I saw that it was breaking out around 8200 but didn't have any money to jump in at that time.

Try to stay disciplined and only trade your edge.

Good luck!

[Bardman]

It is not a bad time to enter though. If you wait for consolidation you might just miss the bull run, best thing would be to stack your money in 3-4 stacks and use 1 stack to buy now, the next to buy the pullback (if it happens) and the others for more pullbacks eventually, this way you will be averaging your buying price while also making sure you are not missing the bull run. Last time it only took bitcoin a few weeks to explode to 20k so dont be afraid.

[cabron]

It can be achieved, its always possible but ask yourself if you have the time to keep trading and monitoring the prices infront of your dekstop and may I remind you that crypto market runs 247. If you answer YES then go for it and spend all your time. Taking profit every now and then sounds like a gold mine. If you are that good in trading, the success of it depends on how you have learned in the past.

[akamit]

That's a good idea??

The best idea of all is to invest that much money which you can afford to lose later.

The truth is, no one can actually tell you the right time to enter or exit. What peoples say is what they believe and their belief is not necessary to be true or false.

Maybe 19th June 2019 is the right time to enter or maybe the wrong. But I believe in the long term, and long term always wins imo.

[Payme21]

Yesterday would have been better than today but today is sure better than tomorrow in terms of when to start investing. Bitcoin will always be a good buy and some of the tokens in the top 10 could also do well

[Lizzylove1]

Bitcoin is still very under priced, one of my student called me today and she so happy that bitcoin has mooned, and surprisingly she didn't buy as much as she ought to have bought because of limit on KYC, she won't yield my advise to help her buy by beating KYC. Bitcoin is gathering momentum but don't FOMO.

[Yaunfitda]

Awww, the first rule here is that you don't ask for financial advises, because we don't have the crystal ball to see what the future bring.

Second, bitcoin investment has risk involved, very big risk, are you willing to take that risk. The price won't go on a parabolic rise, so you know.

Third, you're in the FOMO, that's dangerous, those who FOMO in 2017 learn a hard and expensive lessons, just saying.

[coinholic]

Jump right in if you are in FOMO mode. Many of us tend to feel this way from time to time. Just make sure to play it smart when it comes to handling your business. As many would say, this is a very risky system. One wrong move and you can lose a lot. When there is risk (as in most, or even all ventures in life), we need to be SMART! Always be vigilant and think ahead. Two things can happen, either you gain or lose. Either way, keep on moving forward...

[Yakamoto]

Awww, the first rule here is that you don't ask for financial advises, because we don't have the crystal ball to see what the future bring.

Second, bitcoin investment has risk involved, very big risk, are you willing to take that risk. The price won't go on a parabolic rise, so you know.

Third, you're in the FOMO, that's dangerous, those who FOMO in 2017 learn a hard and expensive lessons, just saying.

The FOMO from 2017/2018 was actually pretty hilarious once it started to cool off. The subsequent panic was probably one of the funniest things I've seen in the crypto community since I started following them in 2013. All the normal people that had bought in at the peak thinking that they were going to miss out on a lifetime opportunity was both hilarious and sad. That's what greed gets you in the end.

OP, don't buy into the FOMO. Chances are, we'll see many, many more cycles like this in the lifetime of Bitcoin. This isn't the first time the markets have shown these patterns and it certainly won't be the last time. The market is probably closing in on its peak by now, no point buying in at the top and losing your money in the bear market.

Of course, keep in mind that anything can happen. As other users have said, we can't see into the future so what you do is your choice. Just don't be emotional with your investing.

[pooya87]

taking some profit out is always a good idea in any market including bitcoin. but when you are planning to make a long term investment (calling it HODL) then you should always stick to cashing out small amounts not all of what you invested. usually the amount is as much as it can give you a nice profit while still not touching the capital investment.
the other important thing to keep in mind is timing. your entry should be in dips, preferably at the bottom. meaning you should have bought at $3k range (the bottom) and continued accumulating in each dip like the one we had recently when price went back to $7.5k price. waiting now (as your date says) doesn't make sense because were are getting out of that dip and rising again.