I Sold 2BTC at $3,000 and BTC Bumped to $10,000

[The Cryptovator]

Did I make the wrong or right decision?

No, it was 100% right decision for you. I can understand your pain since I am also working on abroad. Family is everything for us and we should take care about them. You took decision based on your family problem. Price doesn't matter on that situation. But it would be more better if you were tried to buy bitcoin again slowly based on your affordability. So that you might gain at least few more money. That's why when you have ability to buy just buy it if you could hold, but if its question about your family then we could not wait for bump. It would harmful for us.

[Vishnu.Reang]

You should sell when market at bullrun not otherwise lol

The problem is that users get greedy when a bull run occurs. They will wait for more and more gains and when the dump occurs they will be reluctant to sell those coins at lower levels. But what happens is that once the bull run is over, the bearish phase will become more pronounced during the next few months. Most of the users will be forced to sell, once this phase is set in.

[Xumhar]

I got the 2BTC from a business deal around January this year. I knew that Bitcoin was going to bump anytime soon but still went ahead to sell at $3,000+ each. Why did I sell at such a ridiculously low rate when I could have gotten x3 of the value if I waited for few more months?

I was away in Dubai for work while my family were staying back home in my country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problems, to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I retained the coin till now, but what if my family died of hunger? Money is as good as the problem it's able to solve. That's the lesson I want everyone to learn this. Very too often, I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at later times. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

The idea of hoarding Bitcoin and other Cryptocurrencies, waiting to sell at later times for higher returns is the reason Crypto is slow to adoption in mainstream transactions. Anyone who gets it try to hold on to it, as long as possible, thereby depriving the market the needed circulation to keep the currency viable and acceptable.  

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.  

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

Of course, You did the right thing. But it would be better if You kept at least 0.5 btc and sold it in July for $ 7000. Then You would have remained a good son, and there would not have been the regret that is felt in the subtext in Your text.

[philipma1957]

I got the 2BTC from a business deal around January this year. I knew that Bitcoin was going to bump anytime soon but still went ahead to sell at $3,000+ each. Why did I sell at such a ridiculously low rate when I could have gotten x3 of the value if I waited for few more months?

I was away in Dubai for work while my family were staying back home in my country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problems, to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I retained the coin till now, but what if my family died of hunger? Money is as good as the problem it's able to solve. That's the lesson I want everyone to learn this. Very too often, I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at later times. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

The idea of hoarding Bitcoin and other Cryptocurrencies, waiting to sell at later times for higher returns is the reason Crypto is slow to adoption in mainstream transactions. Anyone who gets it try to hold on to it, as long as possible, thereby depriving the market the needed circulation to keep the currency viable and acceptable.  

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.  

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

Well if this is true and you sold it all in one shot  for 6000   it is sad.

I read your post  and have concluded you are most likely

[kavabanga07]

You still can earn on it, found an article wanna share it with you: https://medium.com/tradingview/my-secret-chart-for-when-to-to-buy-bitcoin-in-a-bullish-trend-deced0900403

[suvo05]

I had a great opportunity to sell bitcoin when it hit 20000$ in 2017 but I missed it. But I hold it decease upto 3000 but I keep on holding it. Now it is around 10000$ and I hope it will reach 20000$ again. Still, then I will hold it.

[lienfaye]

Holding and waiting for the right timing to sell is indeed profitable but sometimes there are problem that we have to face and in order to resolve it we need to let go our assets and sell.

Your reason why you sell your btc is understandable, I was also in that situation last year. For the sake of my family I have to sell my coins to provide their needs.

Now I make sure I have savings to spend in times we are in need so I can hold my btc and alts as long as I want.

[dantee1]

I had a great opportunity to sell bitcoin when it hit 20000$ in 2017 but I missed it. But I hold it decease upto 3000 but I keep on holding it. Now it is around 10000$ and I hope it will reach 20000$ again. Still, then I will hold it.

That is quite remarkable. Do you factor in the time depreciation of money? $20,000 in 2017 is definitely not the same as $20,000 in 2020. Hopefully it gets to 20k quickly so that you can see and diversify your investment.

[Chrystora123]

I was away in Dubai for work while my family were staying back home in my country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problems, to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I retained the coin till now, but what if my family died of hunger? Money is as good as the problem it's able to solve. That's the lesson I want everyone to learn this. Very too often, I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at later times. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

the mistake that many people make is to make Bitcoin a primary income and as emergency savings, so they tend to sell Bitcoin when pressed Unless your work is focused on Bitcoin (the owner of an exchange, mining farm or service provider).  

I'm not saying that selling Bitcoin to meet family needs is bad, but at least prepare an emergency fund so that you don't disturb your Bitcoin...  I'm so sorry for the opportunity you threw away, bro.. if I were in your position then I would do the same thing as you did.

[bitcon]

Did I make the wrong or right decision?

No, it was 100% right decision for you. I can understand your pain since I am also working on abroad. Family is everything for us and we should take care about them. You took decision based on your family problem. Price doesn't matter on that situation. But it would be more better if you were tried to buy bitcoin again slowly based on your affordability. So that you might gain at least few more money. That's why when you have ability to buy just buy it if you could hold, but if its question about your family then we could not wait for bump. It would harmful for us.

That time, it was the best decision for a man, who decided to support his family. Probably, he simply did not have another way out. However, I believe that everybody, who made once the same thing,  should try to work with Bitcoin again. People should never give up.
Cryptocurrency gives us a chance to start a better life, to change everything for the better, and it will be silly not to use this option.

[Nazmul012]

Undoubtedly No. People earn, so that they can expense that money for their livelihood as well as their family members. There is no value of money, if you can't be helped by it. It's true that one shouldn't waste money but that not means to be Stingy! HODL Bitcoin is great decision for upcoming future But Should Sell Bitcoin if urgent

[bryant.coleman]

I had a great opportunity to sell bitcoin when it hit 20000$ in 2017 but I missed it. But I hold it decease upto 3000 but I keep on holding it. Now it is around 10000$ and I hope it will reach 20000$ again. Still, then I will hold it.

Most of us had coins in our wallet when BTC hit $20,000 on December 2017. I sold some of my coins around $15K, but refrained from converting anymore to fiat when the prices rose further. I was hoping to sell some more at $25K and unfortunately that target was never realized. Then the prices went down too quickly and the exchange rate was down to around 8K in 3-4 months. I had to sell some of my coins at this level, as some unexpected expenses had to be taken care of. It may not be possible to wait for 2-3 years for all the users. Some of them may be having financial issues and they might be forced to sell their coins early.

[maydna]

I had a great opportunity to sell bitcoin when it hit 20000$ in 2017 but I missed it. But I hold it decease upto 3000 but I keep on holding it. Now it is around 10000$ and I hope it will reach 20000$ again. Still, then I will hold it.

By the way, you already make $7k so far, and that is a big profit for you but if you buy 1 bitcoin. But it still a profit for you and I think that only a few people that could hold their bitcoin from $3k until now. Most people will sell their bitcoin if they see there is a pump in the market because they are not sure if the price can increase more than the current price.

But that is fine because they could still make a profit by selling the bitcoin at a higher price than the price they bought so they can buy bitcoin again if the price is down after it increases. I hope that you can hold your bitcoin until the price can increase more than $20k so you don't miss the chance to make a huge profit.

[acroman08]

well, there no point hesitating waiting for few month if your family is in need of money. you did the right thing and if that ever happened to me I wouldn't regret I single bit of satoshi
if it means it help my family to survive. there are a lot of us bitcoin users that doesn't have the luxury to hold and sell at the right time. but every time I have the luxury to hold
my btc I will in the hope of gaining more when I feel the time is right to sell. anyway my biggest profit from holding my btc is $6k back in 2017.

[phamminhtan]

You did the right thing, when you sold them at that time to solve your personal and family problems, but you made the mistake of why you didn't buy them right after that ??

[dantee1]

I had a great opportunity to sell bitcoin when it hit 20000$ in 2017 but I missed it. But I hold it decease upto 3000 but I keep on holding it. Now it is around 10000$ and I hope it will reach 20000$ again. Still, then I will hold it.

Most of us had coins in our wallet when BTC hit $20,000 on December 2017. I sold some of my coins around $15K, but refrained from converting anymore to fiat when the prices rose further. I was hoping to sell some more at $25K and unfortunately that target was never realized. Then the prices went down too quickly and the exchange rate was down to around 8K in 3-4 months. I had to sell some of my coins at this level, as some unexpected expenses had to be taken care of. It may not be possible to wait for 2-3 years for all the users. Some of them may be having financial issues and they might be forced to sell their coins early.

You are not alone in this buddy. Most people missed the $20,000 peak price and never get it back because many have since sold at lesser prices. I believe Bitcoin will surpass 20k pretty soon but you don't have to wait for that time when there are bills to pay and problems to be solved with money.

[elisabetheva]

All will surely experience things like you, and just how to be prepared so as not to regret in the future.
I feel what you have done is the right thing and very urgent for the family. but it must immediately revive for investment again when when bitcoin was not too expensive, so you can get back up. don't give up there's still time to get the best back.

[Juggy777]

I had a great opportunity to sell bitcoin when it hit 20000$ in 2017 but I missed it. But I hold it decease upto 3000 but I keep on holding it. Now it is around 10000$ and I hope it will reach 20000$ again. Still, then I will hold it.

Most of us had coins in our wallet when BTC hit $20,000 on December 2017. I sold some of my coins around $15K, but refrained from converting anymore to fiat when the prices rose further. I was hoping to sell some more at $25K and unfortunately that target was never realized. Then the prices went down too quickly and the exchange rate was down to around 8K in 3-4 months. I had to sell some of my coins at this level, as some unexpected expenses had to be taken care of. It may not be possible to wait for 2-3 years for all the users. Some of them may be having financial issues and they might be forced to sell their coins early.

I too was greedy when Bitcoins hit $20k and instead of cashing out I thought why not hodl, it’ll definitely rise upwards and I’ll get more profits but as we all know bitcoin prices took a sudden dump and we all had to live with our decisions. @bryant.coleman ours is a similar story as I also had to cash out at lower levels due to certain unexpected expenses, but I don’t regret it as I understood a valuable lesson of life that is not to be greedy.

[Kez1817]

I got the 2BTC from a business deal around January this year. I knew that Bitcoin was going to bump anytime soon but still went ahead to sell at $3,000+ each. Why did I sell at such a ridiculously low rate when I could have gotten x3 of the value if I waited for few more months?

I was away in Dubai for work while my family were staying back home in my country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problems, to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I retained the coin till now, but what if my family died of hunger? Money is as good as the problem it's able to solve. That's the lesson I want everyone to learn this. Very too often, I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at later times. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

The idea of hoarding Bitcoin and other Cryptocurrencies, waiting to sell at later times for higher returns is the reason Crypto is slow to adoption in mainstream transactions. Anyone who gets it try to hold on to it, as long as possible, thereby depriving the market the needed circulation to keep the currency viable and acceptable.  

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.  

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

Many people experienced like what you did. Selling bitcoin sometimes not because of fear that price did not go up instead they sell it because they are badly needed it like your situation. Of course food for family is always our priority among anything else. So,your desicion to sell is not wrong,you just secure your family needs but of course you can't avoid to regret that you lost an opportunity to gain much bigger. Well,just try to inveat again,who knows Ya u can make more profit more than what you have expected.

[ritu_bd]

Many people suddenly need money like yours in life, so they sell bitcoin at a lower price if they do not get it. Because it needs to be met, the bitcoin pice is not in their hands while watching it. Again, there are many panic vendors, if the price of bitcoin goes down a bit, they realize that bitcoin will go up to $ 1. And it is not for any of us to know when Bitcoin will rise or fall, so it is a good idea to get rid of the risk by selling whatever the price is, without waiting for a crisis. thank you everyone
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