Should we keep bitcoin or not?

[tbterryboy]

I understand selling at the top before it goes down as a great valid trading idea, I would suggest the same to people as well. However do not forget about the fact that if you sell right now, and not buy it lower, you are going to miss out on the future profits.

So, you have one option for profiting, either sell at top, buy back lower, and sell again at bigger top and continue to do this and hope that you are not wrong because if you are wrong you will lose money OR you could potentially try to just keep your money and in the end you will make a profit from it anyway, it will be smaller profit but it would be less risky profit as well. I am one of those people who make a profit from waiting, that is a lot simpler to make a profit than keep trying to find tops and bottoms.

[Kong Hey Pakboy]

I understand selling at the top before it goes down as a great valid trading idea, I would suggest the same to people as well. However do not forget about the fact that if you sell right now, and not buy it lower, you are going to miss out on the future profits.

So, you have one option for profiting, either sell at top, buy back lower, and sell again at bigger top and continue to do this and hope that you are not wrong because if you are wrong you will lose money OR you could potentially try to just keep your money and in the end you will make a profit from it anyway, it will be smaller profit but it would be less risky profit as well. I am one of those people who make a profit from waiting, that is a lot simpler to make a profit than keep trying to find tops and bottoms.

Indeed. I think many people have already sold their bitcoins when it's the price was above $19,000 last week. They are now just waiting for the opportunity to buy back when bitcoin's price decreases again because it might be enough for them to gain profit during the bull season. Having this kind of patience in waiting for bitcoin's price to reach its peak in the long term is not an easy task, especially if your anxiety emotionally attacks you, so it would be difficult for you to decide when to sell bitcoin is unpredictable.

[Untomabur]

Bitcoin is currently correcting below $ 19k, and still holding strong support,
if it holds, then we will see another recovery, otherwise it's better to sell and buy again when prices are low.

[Zemomtum]

You can only hold for a long time basis but if you are a day trader, you should have a watch on $17500, if that should break, we can have a retest of 14k - 14.5k region.

[hulla]

it all depends on you, keep it or not,
because the future will be an advancement of technology, so invest now! future! Wish you long life.

There's no doubt that the future of cryptocurrency will be an improvement but one of the etiquettes of trading cryptocurrency successfully is never to invest at the peak which is what the OP used and this moment it better to save capital even if you're a day or arbitrage traders. Although, the price is still fair but invests now without good knowledge is not advisable.

[michellee]

The matter there to achieve that is don't buy when there's a hype since instead of you gain something the result be negative since you possibly bought your bitcoins at the peak at that moment. The more vigilant we are in the movement of bitcoins the more chances for us to multiply it so better teach our self first not to be greedy and learn how to do a day trades since for this we can earn a decent volume and the market is perfectly fit for it right now.

That is, we need to analyze before we do something. To prevent the greed that will always come is by controlling ourselves, so we don't feel overconfident about what we got before. When we can have self-control over ourselves, we will know when to make a profit and when we need to leave the market to know when we should hold bitcoin and when we need to sell bitcoin. We don't have to follow other people who feel they can make a big profit in the short or long term because maybe they have high skills to make them have that chance.

[Inkdatar]

Bitcoin is currently correcting below $ 19k, and still holding strong support,
if it holds, then we will see another recovery, otherwise it's better to sell and buy again when prices are low.

This is also a good moves buying at low price since there a chance it will go deeper below $18k, we don't know yet once it breaks the support. Actually we do have our own preferences when it comes to our holding of assets. The most important thing when price reaches our goal is to take profit otherwise we will have to wait again to reach it above $19k or at least close $20k. So we have to decide we might sell some and hold some of btc and take the chance of volatile market.

[sana54210]

No matter how much bitcoin falls, I will always hold it, because it always goes back up. However when it is high like this, sometimes I do have the urge to sell and wait for it to drop as well. I have been holding into my bitcoin for a very long time and I keep adding more bitcoins on it as well, I just do not really cash out on it, and that makes it feel like I am not making any profit at all since I do not cash out.

So I do not know what to do, should I sometimes cash out my profits and do something with it to make myself feel better? Did anyone made a lot of profit from bitcoin and then bought something with it and did it feel any better? Because I just can't stop to feeling I would probably feel better with it if I spent my profits but I also fear missing out on future profits.

[lixer]

Just because bitcoin price skyrocketed doesn't mean that you should buy more from it, there are people who should buy from lower prices but fails to do that and see the price go up %200 and decide to buy it at that point, which is wrong and you shouldn't do that at all.

However there is a big difference between buying and holding, if you want to hold as much bitcoin as you can that would work, at least that way you are going to end up making a profit and at worst if the price goes down you could potentially still make profit by buying from lower end. Do not buy right now, if you have any then hold them but do not buy from these prices, it just doesn't make sense to risk it as of right now. Maybe try to look for altcoins that could make a bigger profit and quicker.

[hahay]

Agree, trading at the high resistance line will be very risky but if the price has exceeded 20k even though it is unstable I don't think it is a problem to stay but yes, all decisions go back to the individual. This is a moment where the price will continue to be pushed upwards but the decline will still be inevitable and with that, I think the most important thing is to be patient because the price still has a chance to go higher. I don't know if this market collapse will be the last correction to finally break through ATH, or maybe this is a fall that will be very painful, be careful.

[Erdogan]

it all depends on you, keep it or not,
because the future will be an advancement of technology, so invest now! future! Wish you long life.

Exactly! Even if I myself believe that Bitcoin will be worth $1M, I do not persuade anyone to invest in it or hold it. Everyone has their own choice and should make decisions for themselves. This is also one of the principles of decentralization.

[shane_gr]

Yeah the hourly chart looks to have formed some sort of triangle (symmetric probably) over the month. We might see a breakout in either direction soon but a break below 18000 or 19600 is the confirmation of the direction we're going in that we're looking for. Although waiting for a cross of 20-21k could be a safer bet...

(but the market can always be volatile and randomely pick the opposite direction once it's broken out so)...

We are now seeing that the 19,000 resistance has broken and we have entered the 21,000 price range,
and this has only happened in a few weeks, and this shows that Bitcoin is still hoping for higher prices.

i disagree. during bull runs going down a little has never meant more drops ever, not just in bitcoin but in any market. and it is not going to start now either.
there is good chance to go to $18k range but the only thing that can be followed by is coming back to $19k based on the current information we have.

Because trading in the peaks is very risky, so I am waiting for it to be established and I will enter later.

you are making a good move waiting for more clarity to make your next move but calling this "peak" is a mistake because this is the bottom of the accumulation before the breakout.
very similar to $3800 earlier this year.

I have made a purchase now that the price is in the range of 21,000 and I know that I can see a higher price in the future, so at this time I can increase my profit by buying a step, and I will do the same in the event of a fall. .

[moderator's note: consecutive posts merged]

[acener]

For me I would continue to hold it unless I really need a cash.
I think that it would continue to grow in the future the price increase that we experience could be because of the company that accepts it and the good news about BTC,
People are buying BTC because of it and they are getting new investors.

[cytpoway121]

I think keeping bitcoin or continue to hodling bitcoin will all depend on the perspective of each trader, investor or hodler. This is because, as traders; we all have different entries and all got bitcoin at different prices. If it were me; i have taken profits already and hodling on my capital for now. I advice that you do your own research and choose the best decision for you.