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

[Vishnu.Reang]

It is OK, since no one has been able to predict the Bitcoin prices with a great deal of accuracy till now. So you don't know when the prices are going to up or down. You can only make assumptions, based on the number of users and the changes in demand and supply. The number of users are indeed increasing, despite the bearish phase that we had in 2018.

[princerepon]

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?

First of all you didn't take a wrong step. You don't know bitcoin price rise up or not. Just think you need money for your family and you decide to hold it couple of weeks for more profit. But unfortunately price dump at 1k. Wasn't it too bad than your current situation. So whatever you did it was right decision.

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

Trust me you are not alone man. Me and many people gone through like this situation. Just remember time will come again and you'll never regret for this situation.

[ClickonRun]

I got the 2BTC this year. 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?

So, I decided to sell. Did I make the wrong or right decision?

My question is did you rebuy at 10K?

That would complete the number one rule of trading: "Sell Low - Buy High".  

[dantee1]

I got the 2BTC this year. 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?

So, I decided to sell. Did I make the wrong or right decision?

My question is did you rebuy at 10K?

That would complete the number one rule of trading: "Sell Low - Buy High".  

I don't have much money to buy at 10k. So I am waiting for the next bearish move. 

[bryant.coleman]

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.

Bitcoin will eventually hit $20,000 per coin and surge ahead, but we are not sure how long that is going to take. We may witness those levels by the end of this year... or we may need to wait for another two-three years. If the latter scenario realizes, then we'll be hard pressed for money and will be incurring even heavier losses. So no regrets in selling some of the coins now.

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.

Greed is a basic aspect of human characteristic and there is nothing to be ashamed of that. We won't be having this conversation had Bitcoin hit 50K in 2017. But my opinion is that when you have expenses to be taken care of, don't think too much. Bitcoin may hit 20K in the future.. or it may hit 5K. You can't predict the future prices and both the scenarios can occur.

[jostorres]

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

Mind you, the system has three key features that makes the technology of bitcoin to be attractive, though not limited to them, and these features are, the utility part of it, the trading part of it and the investing part of it, and you have the freedom to choose which ever part that you belong to which you can even decide to belong to the three parties.

When it comes to long term investment under investment, it is necessary that you set a goal for the future, and future I mean years. Long term investment is different from short term investment, and any money that you out in a long term investment is assumed that it is a money that you have decided to out there for a long term until it yield a very high amount of money when bitcoin reaches its peak, while short term is this term that OP is practicing, so as long term holder, I think he took the wrong decision.

[Free1bitco.in]

It is OK, since no one has been able to predict the Bitcoin prices with a great deal of accuracy till now. So you don't know when the prices are going to up or down. You can only make assumptions, based on the number of users and the changes in demand and supply. The number of users are indeed increasing, despite the bearish phase that we had in 2018.

yeah right, it's just that it hurts enough, when selling assets that we hold, and then the price of the pump. but, in such circumstances, it is natural to sell the assets we have to resolve our personal problems. it's just that, I might sell according to what I need.

so far I still continue to prioritize holding back bitcoin, even when I need it. maybe, selling it a little to meet our family's needs is the best thing. don't rush to sell everything. I think this can be a lesson for our friends who use crypto, that leaves a little asset to hold, even though we need it, we don't know when prices will start pumping again.

[Karlinz]

There is always such an ill feeling when one makes such decisions and make moves up that huge and sometimes very fast. It has happened to everyone who has held one coin or the other at a particular time and sold. But from experience, I do not need to bother as long as I never sold in loss, the best I could do is to just be happy it never went down more. Market could go either way, so rejoice while in profit and do not bother whichever direction it moves afterwards.

[Pamadar]

It is OK, since no one has been able to predict the Bitcoin prices with a great deal of accuracy till now. So you don't know when the prices are going to up or down. You can only make assumptions, based on the number of users and the changes in demand and supply. The number of users are indeed increasing, despite the bearish phase that we had in 2018.

yeah right, it's just that it hurts enough, when selling assets that we hold, and then the price of the pump. but, in such circumstances, it is natural to sell the assets we have to resolve our personal problems. it's just that, I might sell according to what I need.

so far I still continue to prioritize holding back bitcoin, even when I need it. maybe, selling it a little to meet our family's needs is the best thing. don't rush to sell everything. I think this can be a lesson for our friends who use crypto, that leaves a little asset to hold, even though we need it, we don't know when prices will start pumping again.

No accurate movements as everything is still relying from how we understand and believe from  this venue of investment, it's really tough when you suffered from mistakes thinking that you are the only one who make the wrong decision selling your coins while the value still cheap then after, the
value rises up and you got full of regrets, but by moving forward you will learn how things works and next thing you noticed you already playing well
with the market.

[dantee1]

Thank you all to those who have contributed to this discussion, and to those who gave me Merits, I appreciates your kind gestures. I hope we learned some lessons through my experience, and from the experiences of others who contributed to the discussion.

More useful topics coming soon!

[Keeminakar]

You are considering those situations where the sale of bitcoin is extremely necessary for life. But if you do not need the money that you have invested in bitcoin-then do not touch them. Give yourself a profit on this.

[Dondisimo]

I was in a bit of a similar situation where I needed money to buy a car and I sold my bitcoin. Then it cost $ 2,000. And then it pretty quickly grew almost three times. I was just as hurt as you were. And so, since then, I have preferred to forget about the money I invested in cryptocurrency. They don't exist for me. I will wait for bitcoin to grow much more.

[Elerntta]

Yeah, you're out of luck. But actually, I've heard quite a few stories like that. But you will never guess whether the price will rise or fall, and therefore it is difficult to choose a 100 percent favorable moment for sale.

[pixie85]

As a trader I sold many times to see it pump right away. I even did that this year when we hit 6000 because I expected a correction and it looked like a good moment to sell and buy back later. It didn't happen and I didn't make as much money as I could but I still made money so I have no regrets.

I don't feel like hoarding is bad because it slows down adoption. OP had a reason to sell because he had a family to take care of but I don't. Why should I sell if I have nothing important to buy? For some of us holding is reasonable.

[lolxxxx]

A post worth reading and giving time for all those who rely totally on bitcoins and are keeping it no matter in which conditions they are. You should keep bitcoins only if you have some other job, please do not make your life difficult by holding bitcoins who knows about the next moment, eh?

[longtkhd]

I have always believed in the price of Bitcoin despite the price drops and as a result, the price of Bitcoin has reached $ 10,000. In the near future, even Bitcoin has a much higher price, hold that belief.

[dantee1]

A post worth reading and giving time for all those who rely totally on bitcoins and are keeping it no matter in which conditions they are. You should keep bitcoins only if you have some other job, please do not make your life difficult by holding bitcoins who knows about the next moment, eh?

Thank you @lolxxxx for the comment and for the Merit you gave. You have it spot on. Bitcoin should be kept only when you have a job or other means to sustain yourself. Never keep it to the detriment of your well being.

[Vishnu.Reang]

The next stage of the bull run might have started by now. The exchange rates are up by 10% during the past 3-4 days, and the Bitcoin dominance has also increased from 69% to 71%. The prices are slowly approaching 11K, thanks to solid demand from the global markets. BTC volumes remain robust, while those for altcoins show a sharp decline.

[Zionatin]

Dude how much do your family eat? Do they eat 6k$ worth of food and stuff? You could have sold some of it , you didn't have to sell it all so your argument is void.
I spent some at the beginning of the year instead of waiting and I was also forced to spend some on living costs which pissed me off.

[Republikcoin.com]

Dude how much do your family eat? Do they eat 6k$ worth of food and stuff? You could have sold some of it , you didn't have to sell it all so your argument is void.
I spent some at the beginning of the year instead of waiting and I was also forced to spend some on living costs which pissed me off.

we never know what other people need. there could be a credit that needs to be paid or something like that. it's not just a matter of food, but another problem. in general, crypto users will only sell their assets according to their needs. so when he sells all the assets he has, it means he has a big problem. Well, if it's like that, we need to start over.