What will you do when Bitcoin reach$20k?

[bitgolden]

As of now I've got very small amount of bitcoin that's been bought for the purpose of trading. The same is being used on regular buying and selling. Possibly I'll sell what's available with me when the price reaches $20000. The price has reached the peak years back, and people are expecting the same to happen in the near days. While the price reaches $20000, I'll convert everything to USDT and further will buyback when the price drops again.

That is a gambling method and I would really assume that it would work on trading as well. Let's say you invest 1000 dollars and that becomes 2000 dollars, take out your 1000 dollars into fiat and just put it on savings account or whatever until you need it, and with the other 1000 dollars just keep on making profit if you can, even if you lose all of it, that means you are still not losing it because you withdrew your initial capital.

That is what I would assume that would work for the people if they want to give it a try, I have done similar things for a long time and it did really helped me a lot because thanks to that I was capable of both keep trading but also spending what I needed and never really had to either go all in or just take it all out, always one foot in and foot out.

[Savemore]

The dominant emotion will be greed I'm sure with that especially if the Bitcoin reach $20K, people will except that the price will go up more and it will lead to them to hold more. I will also hold my bitcoin if it managed to break the current ATH in this current year. But still everything can happen so we should be careful and we should create a plan in different scenarios that may happen in order for us to be prepared in unexpected situations.

If the price reached it expect that there will be a lot of speculations that will uploaded in different communities where it will create hype not only here in the forum but all over the social media platforms. There is a high chance that it can attract more investors that can boost and lead to the increased of the momentum of the bitcoin.

[pixie85]

I was in the market few years ago when bitcoin almost reached $20k. I wasn't acting then (hodling for few years already) and I think a lot about when I should act next.

I wonder what other people who hodl bitcoin for few years plan to do.

Do you have a price in mind than when bitcoin will reach it, only then you plan to sell?

I'm buying low and selling high so every price increase is a reason for celebration for me and if Bitcoin reach another all time high and reaches $20 k I'll have a small celebration because it's another milestone to celebrate an all time high that we all we are waiting for.

If you buy low and sell high will you buy or sell at 20 thousand? Will it be low or high?

The answer isn't as simple as most people think. When Bitcoin broke 1000 dollars for the second time that 1000 from being an all time high became the starting point of another bubble and years later we see that we've never even come close to going back there. So we can say that the ATH of 2013 became the no entry zone after the next halving and remained like that for another 3 years.

[RealMalatesta]

I think there is no need to risk it, just thing of your bitcoin purchase as 100% of your portfolio, you may have other stuff but we are focusing on bitcoin part here.

Let's say you have 1 bitcoin to make things easier to understand as well. It reaches 17k? Sell 0.1 bitcoin. It reaches 19k? Sell another 0.1 bitcoin. It reaches 20k? Sell another 0.1, and just like that keep on going up the way you want, it could be each 1k, it could be each 2k, it could be each resistance point broken, basically you decide when but instead of buying all together all at once and selling all together all at once, I am a big firm believer that people should be buying while going down slowly, and people should be selling while it is going up slowly, just to make sure they have an average instead of all in or out.

[AmoreJaz]

I think there is no need to risk it, just thing of your bitcoin purchase as 100% of your portfolio, you may have other stuff but we are focusing on bitcoin part here.

Let's say you have 1 bitcoin to make things easier to understand as well. It reaches 17k? Sell 0.1 bitcoin. It reaches 19k? Sell another 0.1 bitcoin. It reaches 20k? Sell another 0.1, and just like that keep on going up the way you want, it could be each 1k, it could be each 2k, it could be each resistance point broken, basically you decide when but instead of buying all together all at once and selling all together all at once, I am a big firm believer that people should be buying while going down slowly, and people should be selling while it is going up slowly, just to make sure they have an average instead of all in or out.

you will not be overwhelmed by that strategy and will keep you grounded. as for me, ill just do the same from what i was doing before. just sell what is needed and keep my other stash still in btc. usually, i encash my btc when i needed it like have to pay my bills or something comes up. so what im trying to say is, even if we reach at 20k, i still have the same lifestyle as before. been there in that price level before. so nothing extraordinary on my end.

[Janation]

After the two previous halvings, we’ve seen the price reach an all-time high, if such happens again to be honest, taking profit will be the first thing that comes to my mind and I will definitely do so, from my experience in last bull run when bitcoin hits $20k, lots of altcoin were down before moving up, if such happens again, I will look for solid, projects and buy their dips. 

I guess this is a normal strat.

To be honest, even before hitting $10K I've been thinking this for a while now, and seeing your post about this, I realized that not all of the people are just not considering Bitcoin to reinvest(it will still be my main one) but also other cryptocurrencies as well. I have some altcoins in mind and one of them is Ethereum which is said that might pump because something is coming.

[STT]

If BTC price gets to 20k and keeps this price as stable, selling just dollars and holding them wont be the best choice likely because dollar has demonstrated some problems with retaining value.     The proper way to manage large asset gains would be through rebalancing a portfolio to receive profits and redistribute risk without losing all future growth, theres a whole study of management that would probably be relevant to read up on if people were really so lucky to be this successful.   Its quite likely the dollar has suffered some kind of failure if BTC never stops rising, I dont believe the world moves in isolation and BTC price moves but everyone else stands like a statue and lets it happen.    So I'd recommend holding a series of asset types dont just switch from BTC cash into dollar cash or other FIAT as this could just raise tax issues without being a great benefit.  Money is security, ultimately we are going to see value based on each currencies ability to provide that security and stability across the globe so all kinds of commodities relate to that.

[Reid]

You sell, you lose your bitcoin.
It might feel good having a lot of USD in your wallet but think about it. What's next?

Do you know when the price will go down again to buy it back? Will it ever dump? What if not.
Those questions that will make one person doubt to sell it.

Plus, we haven't even seen the adolescent stage of Bitcoin yet. 

[Hamphser]

I was in the market few years ago when bitcoin almost reached $20k. I wasn't acting then (hodling for few years already) and I think a lot about when I should act next.

I wonder what other people who hodl bitcoin for few years plan to do.

Do you have a price in mind than when bitcoin will reach it, only then you plan to sell?

I'm buying low and selling high so every price increase is a reason for celebration for me and if Bitcoin reach another all time high and reaches $20 k I'll have a small celebration because it's another milestone to celebrate an all time high that we all we are waiting for.

If you buy low and sell high will you buy or sell at 20 thousand? Will it be low or high?

The answer isn't as simple as most people think. When Bitcoin broke 1000 dollars for the second time that 1000 from being an all time high became the starting point of another bubble and years later we see that we've never even come close to going back there. So we can say that the ATH of 2013 became the no entry zone after the next halving and remained like that for another 3 years.

Its active trading and its totally different when you do held up on a certain price point that you had bought back when its still cheap. Long term holds and active trade is totally different when you do mention about price action.What to do when bitcoin reach 20k? you'll normally sell when you had bought cheap but if you do deal with moving price then price level wont really be an issue since you can trade up on no matter what the price.
The question is, have you able to buy when the price is still cheap?

[sujonali1819]

Do you have a price in mind than when bitcoin will reach it, only then you plan to sell?

To be honest I am out of bitcoin now. LOL. But what I have I would like to sell them when I will see that same bullish market like 2017-2017. So as most of the trader thought 20k is the best price for selling.
I also think like that. when I will see bitcoin already reach to 17k-20k $. I will sell them and wait for re-buy when price will make corrections.

[b1k4ng]

of course those who are still holding for a few years will sell it soon because they will definitely think the events after 2017 will repeat itself so they have a lot of losses, and I will also sell it when it reaches $20k

[thecodebear]

When it hits $20k I'll start getting excited as that probably means it'll be close to $100k in the next 6 months to a year. I sure hope nobody would be dumb enough to sell when it hits $20k, that'd be like selling at $1000 in 2017 haha.

[Distinctin]

...
close to $100k in the next 6 months to a year.

That was a very optimistic mate because even we have the Bullrun this year or even next year, it is really hard to achieve that price. I'm not actually a bearish person but I'd never think that was close possible to happen.

I know the market is unpredictable but it never looks like that in a real situation. I'd rather have to think for $50k than thinking for $50k because it finds unrealistic.

Anyway, I'd respect your opinion and everyone could make his own, maybe I was not a very optimistic person far different from you.

[wxa7115]

I was in the market few years ago when bitcoin almost reached $20k. I wasn't acting then (hodling for few years already) and I think a lot about when I should act next.

I wonder what other people who hodl bitcoin for few years plan to do.

Do you have a price in mind than when bitcoin will reach it, only then you plan to sell?

When that time comes I'm going to keep watching the market and the reason for that is that particular level is going to be critical for bitcoin, if that price is reached there is the possibility that many people decide to begin to sell their coins because they are afraid that the price will begin to go down, not realizing that their actions themselves are going to be one of the main reasons why the price begins to go down.

However if bitcoin can surpass that level then you better prepare yourself because the market will skyrocket and there is no telling how high it will go this time around.

[aioc]

I was in the market few years ago when bitcoin almost reached $20k. I wasn't acting then (hodling for few years already) and I think a lot about when I should act next.

I wonder what other people who hodl bitcoin for few years plan to do.

Do you have a price in mind than when bitcoin will reach it, only then you plan to sell?

Holders have different mindset some of them will sell or some already sold and some will still hodl thinking that Bitcoin and other altcoins will still have more to give or reach another all time high, everybody made a profit in bull run but those who bought on the floor or when Bitcoin hits the floor and still hodling are the one are jumping in joy.

[sarmrakib]

I have bought a few bitcoin when the price was dropped deep .I think i am so lucky now to have few btc and i just wanna sell it on 25k$ .I am just holding it never wanna sell it below on 20k$ .I hope the price will go nearly 20k$ on this year .Now lets see how market act with us.

[bitzizzix]

I have bought a few bitcoin when the price was dropped deep .I think i am so lucky now to have few btc and i just wanna sell it on 25k$ .I am just holding it never wanna sell it below on 20k$ .I hope the price will go nearly 20k$ on this year .Now lets see how market act with us.

Everyone will do the same to buy bitcoin when the price drops and sell it when the price rises on target and is profitable.
but sometimes this desire is not in accordance with reality because the price of bitcoin can change suddenly, and making a long-term investment in bitcoin is the most appropriate choice because it is not affected by the movement of bitcoin when it falls and is just waiting for the bitcoin price to rise high to sell it back even though have to wait a long time.
and in my opinion, the current bitcoin movement tends to increase even though it is slow and there is a possibility that it will continue to rise slowly until it reaches the highest price, let's see it until the end of this year and hopefully as expected.

[Spaffin]

I have bought a few bitcoin when the price was dropped deep .I think i am so lucky now to have few btc and i just wanna sell it on 25k$ .I am just holding it never wanna sell it below on 20k$ .I hope the price will go nearly 20k$ on this year .Now lets see how market act with us.

Everyone will do the same to buy bitcoin when the price drops and sell it when the price rises on target and is profitable.
but sometimes this desire is not in accordance with reality because the price of bitcoin can change suddenly, and making a long-term investment in bitcoin is the most appropriate choice because it is not affected by the movement of bitcoin when it falls and is just waiting for the bitcoin price to rise high to sell it back even though have to wait a long time.
and in my opinion, the current bitcoin movement tends to increase even though it is slow and there is a possibility that it will continue to rise slowly until it reaches the highest price, let's see it until the end of this year and hopefully as expected.

Undoubtedly, when Bitcoin prices reach historic highs, many ordinary investors will sell their coins in order to make big money thanks to the prevailing circumstances in the market. But I am confident that there will come a time when no Bitcoin owner will sell their BTC to get a lot of fiat money. Perhaps already in the near future, Bitcoin will reach its historical maximum and be stable, which will lead to the fact that Bitcoin will be used not only as a valuable asset, but also as a safe haven for their savings.

[wxa7115]

Undoubtedly, when Bitcoin prices reach historic highs, many ordinary investors will sell their coins in order to make big money thanks to the prevailing circumstances in the market. But I am confident that there will come a time when no Bitcoin owner will sell their BTC to get a lot of fiat money. Perhaps already in the near future, Bitcoin will reach its historical maximum and be stable, which will lead to the fact that Bitcoin will be used not only as a valuable asset, but also as a safe haven for their savings.

This is not out of the realm of possibility, but we will need very specific circumstances for that to happen, in short we will need that people lose confidence in fiat currencies and they look for a store of value, many will use gold as a way to protect themselves but many will use cryptocurrencies especially bitcoin to try to reach the same effect, at that point people will begin to use bitcoin as a currency as most likely the inflation that we will be suffering will be skyhigh.

And as such no one will want to get rid of their bitcoin however I'm not so sure this scenario is going to last that long because at some point governments will do something to try to stabilize their currencies and then people will go back and adopt currencies backed by governments once again.

[enhu]

you'd have to check the chart first before doing anything or else you will lose opportunity. reaching up to $20k doesn't mean its also the peak this time. The market has changed a lot and $20K is not like its the ATH still. Speculations tells us it could be $100K so you better not sell because if this is adoption in the process, it would be hard to tell which one is the overbought level. 

I might just hold still just as I did since the past bullrun. If I experience the long bear marketcap again then so be it.