What you'll do when BTC price will go down heavily and fast?

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

Other.

I'll keep regularly buying bitcoin, I'll keep regularly spending and using bitcoin, and I'll keep regularly putting some of what I buy in to long term cold storage. Bitcoin wasn't designed just to be held long term or as a medium to buy and trade altcoins - it was a designed as a currency, and I'll keep using it as a currency regardless of what its fiat price is.

Quote from: btcb3g1nn3r on January 01, 2021, 02:15:34 PM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

Keep holding.
As no one has seen the future right? What we can just do is based on assumptions predict the next price.
But as I need profit therefore i am ready to take risk.
I have a strong belief that BTC won’t disappoint me with the price.
Rather i have bought some BTCs when the price was around 13k USD.
So i am assuming BTC will now keep the fix price of around 22 to 23k USD, and that will be still profitable for me.
Anything can happen, so let’s hope for the best.

in my opinion other.
because if the option you make is for those who hold bitcoin, if not, the answer is we will buy bitcoin at a fairly cheap price and spend as much of our money as possible.
and of course for bitcoin users, it's clear that the options you make can be converted to fiat, to USD, or even if you don't have time to convert, they will automatically become stoic holders

Quote from: btcb3g1nn3r on January 01, 2021, 02:15:34 PM

what you'll do with your BTC?

I'll do most probably what I usually do: sell some of my bitcoin earnings and also hold some.
The ratio depends though on the price, trend and... the household needs.

Although more options would have been better (at least one for BTFD), it's good to see you've put check boxes instead of radio buttons.

Which drop are you counting?

Last time I think we did $17k-->13k-->$23k. And last time I sold at $8.5k and $6k but I was just fiddling with what happens in a pump and dump considering it was my first and I was busy with quite a few other things at the time.

I imagine I'll sell some as we get in the region of $250k+ (whenever that happens) and sell some towards the bottom again but I keep using it for buying groceries and other stuff so I'll also keep doing that regardless of price while it's still possible.

Unless there is any major fundamental event that somehow overpowers all Bitcoin's advantages (aka a flaw found in the code - which probability is close to zero) I see no reason to sell Bitcoin even on violent 50-70% dips. I mean the historical yearly gains are self-explanatory to be honest. BUT, someone who is trading Bitcoin and not keeping it for long-term, might sell much quicker in the event of such a retrace.

Quote from: btcb3g1nn3r on January 01, 2021, 02:15:34 PM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

If you are a holder then you wouldnt make any further step but just simply hold but if you are a short term investor then you would definitely consider on putting it to fiat.

The question here is that, how you would able to know if the price will be going down that fast? or that would only be just a small correction or a typical price pullback?

We wouldnt able to know if we dont able to see those actual numbers or movements.In times like this then its a typical one for people to get panicked.

Whenever the price spike so high, most traders do convert it to stablecoin as far as i know. There is always a possibility that price will plunge sharply when it spike up to 10%. With BTC its more than that. Its best to turn it into stablecoin for you to be able to buy the BTC back at cheaper price than turning it into fiat. This is why its recommended to stay on DEX where you can stay on exchanges while you have your coins with you on your wallet but easy to get to buy back.

I am an active trader, so it's obvious that I have a stop loss active on the BTC/USDT trading pair. In case the price drops so fast, It will be sold off foe USDT after which I will rebuy shortly after recovering from the deep.

If the price drop gets me trading that day, I could also just short BTC to make some profits during the drop

When thats happens I will just hold the amount I got and wait till it gets back up. After every dip will be a pump.

I'm already numb if bitcoin goes down heavily again.

What's new with that? we like seeing it go up quickly and we hate it to see go down. I'll just do the same and nothing will change even if bitcoin goes on high, I'll keep holding, buying, and selling at any point that I like.

Also will still shop using it. Tongue

It is not desirable for anyone. Nevertheless, since Bitcoin is flammable, there are ups and fluffs. When the price will go down heavily and very promptly, there is nonentity to do but hold. If there is no scramble, hold on until a reasonable grade is achieved.

Quote from: dre1982 on January 01, 2021, 07:28:44 PM

When thats happens I will just hold the amount I got and wait till it gets back up. After every dip will be a pump.

Buy dips are always the best option for bitcoin. but I think it will be difficult because now many people have started using bitcoin regularly and many big companies are already investing in bitcoin. so yes, use it, buy dip, hold, simple.

This should be obvious, once Bitcoin or any other coin hits a wall after a long uptrend, you should chart it up and look for a good short entry and make profits out of it. You just trade whenever there's a huge shake up of market to maximize your profits, either day trading or scalping would be good.

You might be wondering what I'm saying, I'm not promoting or anything but trading in futures and not just hodl will gives you a huge advantage to make more money. But of course you need to study first before engaging in Trading. Trade slowly with very small amount of entry, make it consistent until you're all familiar with the strategies and stuff in Trading.

Continue with the hodl and DAC, anyone who isn't in this as a five, ten, fifteen or twenty year game is missing the big picture.

We have different perspective about it in my case I would covert it to fiat then wait for a while and buy again, sometimes it's better to cashout your money so you would be able to buy more Bitcoin my current goal was not to have more USD in value but to have more Bitcoin as much as possible.

Quote from: btcb3g1nn3r on January 01, 2021, 02:15:34 PM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

BTC went down from 2017 to 2018. It was not a good year for BTC, if you are being specific about this time period. What to do during a bear run if you ask me, in general - I tell people to put aside the negativity and use their available liquid cash to buy bitcoin if feasible.

While 2017 was a bull run for bitcoin, at that time you sell bitcoin and hold the fiat so that you could buy during the bear run.

See this cycle was nicely happening in that 2017-2018 but many people bought at the then ATH of 19k USD and got busted in 2018 bear run. What we should learn is not to repeat such a mistake, because it costed investors a lot.

That's actually a good question I haven't think of it and what I just do is to wait for the Bitcoins price to increase but I forgot that the price will be going down anytime soon.
I think there are many ways I could do such as buying more at lower price but I think it's more better if you are going to sell and jump before crashing
and just by again at the lower point but also I could just reinvest my coins to other projects maybe buy some altcoins?

I really do not care what the "price" of bitcoin does directly, obviously I care that bitcoin is loved and liked and everyone supports it, and that means bitcoin should be high price if all of those are true, and when the price goes down unfortunately many people sell and leave, which I do not want. But that doesn't mean anything for my own finances, it is irrelevant to my finances.

I mean I could have a lot more bitcoin or a lot less bitcoin and I know that in the end bitcoin will go up, you could have bitcoin 10k tomorrow if you want and I wouldn't worry about it. A friend of mine bought at 2017 peak and he was upset, a year later he sold all his coins, I told him he bought at the peak and he should wait years if he has to, and he didn't and got out, right now it is 50%+ higher than the price he bought, which is obviously a big profit if he waited. That is what I believe in.