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

[Juggy777]

I'm a breadwinner also and I know where you're coming from. 1st quarter of 2018, I have more than $20,000 worth of coins. My grandmother got sick and my auntie lost most of her savings due to a failed business. They are the ones who raised me and my siblings when I was young because my mother had a mental sickness and my father is one of those what I called "SPERM DONOR". As a sign of indebtedness to my auntie and grandmother, I decided to sell my coins eventhough I knew that it can reach a higher value in the future. For some people, they might think that it was a wrong decision but for people like us, it was one of the best decisions we ever made. There is nothng more happier for us breadwinner for the joy and satisfaction that we can provide for our family and loved ones. We can always gain money but feeling that we provide happiness to our family is priceless. I salute you for what you did!

Thank you brother. I salute you too for what you did, and for the candid perspective. You are a huge asset to your family and will forever be valuable to them. You did the right thing too, especially by remembering what they did for you in the past and helping them in return.

That is one reason why I believe it is difficult to hold bitcoins for a longer period of time especially for the middle and lower class people. They have to cash out in emergency situations.

I definitely recommend people not to keep their Bitcoin in case of a situation like you were in. If you wouldn't sell your Bitcoin, your family would be in a very bad condition and you would have a very hard time to fix that problem.

Very few people give priority to the people over money and I am happy such people do exists in the world.

This story shows that humanity yet exists the holder could have ignored his grandmothers problems, but he decided to cashout bitcoins and help her and these are the kind of stories media should highlight. I don’t agree with your statement that lower and middle class should not hodl bitcoins, instead I would suggest them to only hodl thier surplus funds in bitcoins so they don’t need to cashout bitcoins for every emergency.

[1714107746]

1714107746

[1714107746]

1714107746

[1714107746]

1714107746

[1714107746]

1714107746

[doomistake]

It also happened to me but in a different way. I am not sustaining my family though I pay my own bills, buy my own food, buy my own clothes and other personal wants and needs. Way back December 2017, I have 1 BTC in my Electrum wallet and altcoins on myetherwallet, if you guys remember, this is the month where bitcoin's and altcoin's price was at their peak, but I hesitated to sell some thinking that it might go up more higher

Guess what? I am disappointed, the market is slowly going down since January 2018 but I'm still hoping for the best, and I regret not selling some bitcoin and altcoins that time. I could have turned it in fiat and re-invest in when bitcoin hit its lowest price in 2018.

[barota]

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.

you are not the only one that sold , i sold too last year  
Don't blame yourself because it is difficult when you live crisis financial or when you dont have a monthly job
But investment must be separated from money of  living  . Then regulate profits (spending and investment)

I had sold mine at 5000$. It is really hard to hold when you see 3k$ and it goes up to 5k$. This is why the price went to 14k$ after we sold. We are the weak hands here I guess. I regret that I sold at 5k$ this year but fortunately, I hold some of my bitcoin. This is a lesson for me. We will get inelastic for these price changes I hope.

You are right .. When you see the market does not stop
dumping it is very difficult to hold bitcoin
for this reason i dont participe the opinion for those who love  big pumps
prices should grow step by step and regularly

[negancoin]

Your got 2 BTC as payment for the work you did which consider a salary. The option was to keep it as investment which means entering a position trade or use that salary to feed your family. You missed an investment opportunity but I think you made you a right decision, no one should invest his salary that he needs his daily life, the price went up but there was a possibility that price could went down which then would be a different story.

[NutMasterTardd]

I know it isn't ideal and pretty much is the worst feeling missing out on good trades, but my friends and I are in a similar boat although these trades are with alts and not Bitcoin! (I find it too hard to day trade Bitcoin I just use it as a means to trade back to fiat or HODL)

I sold 4200 Dash for 1.6 BTC back in 2014 and my friend sold 90% of his WAVES during 2016 at 15.8k (6 months later the price was 10x higher) He could have retired at age 33.

There are always more trading opportunities, so never give up and keep doing what you are doing because at least you are in profit with that trade at $3000 some people are 99% down.

[LUCKMCFLY]

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.

I think that what you did was the right thing, and what many would do without hesitation, I would not be able to see my family that have to suffer needs, just like you, I also had to make expenses of that style and yes, It happens that then it goes up in price, but I do not regret it, with work and effort it can be recovered, in fact many similar problems have arisen many times and it is really difficult to take the step because the conscience warns you that the price will rise, but the best is to be healthy and try to have a good life, I think that as time goes by the opportunities will present themselves.

[NutMasterTardd]

I know it isn't ideal and pretty much is the worst feeling missing out on good trades, but my friends and I are in a similar boat although these trades are with alts and not Bitcoin! (I find it too hard to day trade Bitcoin I just use it as a means to trade back to fiat or HODL)

I sold 4200 Dash for 1.6 BTC back in 2014 and my friend sold 90% of his WAVES during 2016 at 15.8k (6 months later the price was 10x higher) He could have retired at age 33.

There are always more trading opportunities, so never give up and keep doing what you are doing because at least you are in profit with that trade at $3000 some people are 99% down.

Profit is profit. Profit is still better than losing your money or bitcoin so I think that the only lesson based on your story is to be patient. I know that a little to big profit is always tempting us to sell our shares or coins because we are afraid for the price to go down and lose all of our profit but just ask yourself before you sell anything if the coin already reach its potential.

Exactly! Sometimes you just have to count your chickens, people have lost their entire savings or taken out a second mortgage and lost most of it, that's true desperate times when you lose funds that you can't afford to lose and even then shouldn't be gambling with said funds in the first place.

Patience and a bit of luck, that's all you need to make a good sum of money.

[gunhell16]

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've been in the same situation but i don't know if we have the same reason.
I sold some coins even BTC before even I know that there will be a good bump in less than a month.
Why did I? i don't have enough money to support the family. how about you? did you just sell it even you have more than enough financially? then that's wrong.
I even sold BTC before just for @ 6,000 and went up high more than 20,000 USD each.
But that is one of the best teachers we could ever have in life! EXPERIENCE! just don't repeat what you did wrong!

[Ozero]

We all in cryptocurrency will inevitably lose lost profits. However, in this case, sell two bitcoins to feed a family for $ 6,000 ?. Perhaps this is figuratively said. Then, of course, this is permissible. However, if all the money went directly to the purchase of food, this was not quite a good idea. There is always the opportunity to save on food. However, life is life, and we often have to act differently than we want.

[Sithara007]

It's human nature. I have also a few such trades to my name. Back in 2015, I sold some of my BTC when the exchange rate was somewhere around $200 per coin. Two years later, the prices went up by 10,000% and reached an ATH of $20,000 per coin. Fortunately for me, I still had some coins remaining in my wallet and I was able to cash them out.

But then, many times I was lucky while dealing with the altcoins. I sold some of my alts (BSD, CTX, NMC, EBTC, GBYTE, XLM.etc) when their prices were at the peak. Had I held on to them, then I would have incurred heavy losses. But these trades never remain in my memory. Only the sale of BTC back in 2015 lingers in my mind. No matter how hard I try to forget it and move on, I am unable to do so.

[hahahafr]

I have been in such a situation before. i remember when i sold about $2k worth of BTC during the range of $3k -$4k. i was so mad when i saw this rise up to about $6k in less than a month! But i guess it all boils down to using the money for its rightful purpose and this was to pay my nephews fees for school.

[pishite]

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.

Don't blame yourself because you did the right thing.
Since, if you were to keep your capital in bitcoins, you would probably make a profit, but it’s hard to imagine what could happen to your family if you didn’t do such a noble thing.
It is better to keep your cryptocurrency investments in a cold wallet and not control your funds for a long time, as there is always the temptation to spend them on something.
But, if a similar situation happened to me, I would also spend my cryptocurrency, since there is nothing more important than my family.

[ReiMomo]

It's real problem i was face more time in fact cryptocurrency understand is more difficult, basically BTC price Its value is not as easy to estimate as it is very difficult to figure out where tomorrow price can go. I have sold BTC 6000$ after few days i see BTC price going up 10000$.

Same as this year In fact 2019 may be the bitcoin is a good investment and hope it was broke all previous record. But now the situation is not good because it an already dump under 9000. I expect bitcoin's price will go up in 2019 but it's not possible yet

Patiently for a perfect time, it would be better. But in OP's story, I was being related to that. Then, Oh.. that's so sad to hear. You badly lose a lot of profit because of that. All I can say if that don't give up easily especially when it comes to long term investment. You need to be patient so that you won't regret every decision that you will make so all I can say is that think before you click. You can lend one of your friends just for your family needs in order to sustain their daily need but if necessary let's accept the loss and the fact.

[hypersonic1]

We never know what life will hold. I've been lucky in that my job and life patterns were in a good state to accrue bitcoin for the most part. Sometimes I look at my balance and really want to just throw money at my problems. Temporarily giving myself respite wouldn't solve things like bad budgeting and bad spending. So I stay disciplined. I think the best hedge is to have enough BTC to earn interest with on one of the many good platforms out there now. That wayu you can use it without losing it, at least for the mid term.

[Alexandr Kirichenko]

This is an excellent and timely decision. I completely agree with you. Everyone has their own situation, and the person himself must decide when to sell and when to hold up to a higher price. I do not agree with the fact that it is not necessary to use Bitcoin as a means of accumulation, I do not see anything bad in this. If there are means that can be used for this purpose without harming the family, it can be done. It would be a good solution I think.

[aysg76]

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

What you did was right beyond any doubts. See the regret game in crypto market never ends. What if you kept the btc till now and sold it today @ $8K each and Bitcoin rises to $15K each next month? So make it rule to never check the market once you sold your investment. I have sold many of my bounty coins at lower prices and then regretted selling them for too low but regretting never helps. So it better to never look prices after exiting the market.

[ReiMomo]

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

What you did was right beyond any doubts. See the regret game in crypto market never ends. What if you kept the btc till now and sold it today @ $8K each and Bitcoin rises to $15K each next month? So make it rule to never check the market once you sold your investment. I have sold many of my bounty coins at lower prices and then regretted selling them for too low but regretting never helps. So it better to never look prices after exiting the market.

I guess that is right, Well if you sell it because one of your family members is in critical condition and badly need money then you don't have any source of money and bitcoin is the only way to save here then you are not you didn't lose. Even if the price reaches $15k as long as you sell it for good then even if it's only $3k at least you'll be able to help your family. It really depends on the situation.

[boltz]

Let me tell you that you're living an expensive life if you need 6k$ per month in order to survive. Most of the people spend that amount of money in 1 year so next time try to have some financial management in your life so you don't have to sell again for comfort. Most of the people prefer to have comfort in that moment instead of long comfort that come with patience and discipline. I have a family too but we learned to have financial management in order to prosper in the long run. Anyway its sad that it caught in a bad moment when you had to sell your bitcoins.