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

[coin_1122]

Literally before our eyes, the question asked in this topic was realized. Bitcoin plunged $ 10,000 down, which means a lot of people have a story to tell.
Namely, how they behaved during this downward movement. Personally, I managed to transfer bts to usdt at a price of 40,500, just before the fall.

That is the basic idea we have to do when the price of Bitcoin increased heavily in the exchanges, which we need to convert them to USDT, in order to protect our profits. It will give the opportunity to buy the Bitcoin again when the price of Bitcoin drops again. That's how we need to play with the cryptocurrency.

[kram31]

I think as an individual traders we need to use or apply stop loss in trading to prevent high losses into our assets.
Or if your not selling your Bitcoin and yet the price rapidly goes down, so the better way for you to do is continue what you had
started in the first place in which is hold your Bitcoin until it goes up again.

[Morenod]

why convert to stable coins and not fiat?

[perla]

My current goal was to have a lot of Bitcoin as fast as I could well if the price will continue to go down I really think I should buy at lower price this is a good opportunity to invest more Bitcoin or probably Altcoins.

[Filiali]

I try to have an strategy, and stick to it. It doesn't matter if BTC price goes up or down. There are selling points and buying points, and if you get nervous, use stop loss. If you lose money try not to lose more than the potential loss that was contemplated in your strategy

[death69]

Only dump would sell their bitcoins cause of the fall in the price. There is nothing to be afraid when bitcoin decline. To me, it is just a correction for bitcoin to go even higher in the future. As a bitcoin enthusiast, I dont mind of it anymore and as you say, holding is the only purpose which guarantee the profit

[Miaallen]

The smart to do is to swap or sell for stable coins whenever the market price is falling so fast in order to reduce the effect of loss on one's fund. Swapping to fiat currencies in some the 3rd world countries isn't advisable because their country's currency might even fall as against dollar before they start to buy the coin again.

[Xxmodded]

Keep holding is better than have sell with lower price because I think bitcoin always have bigger chance back to higher price and not worry for investing and keep holding bitcoin or altcoin. I think during bitcoin have lower price have many bigger investor wanna buy back bitcoin and they wanna get more profit after bitcoin pass correction price and going up, maybe many time bitcoin success pass correction price with higher price more than 20x before correction.

[Silberman]

Nothing at all.  I will continue to mine it and hold since at this point is doesn't even cost me electricity on my old ASIC (free power location).  im also quite late to this game since I ignored crypto up until the big boys decided it was worth something.  The volatility doesn't bother me at all.  as i write this its dropped like 7kCAD in a day. people taking the money off the table prob.  tomorrow itll prolly jump again as they reinvest

I think the same, the whales like to play with the price from time to time to see how strong is this market and I think that we have passed this first test, the price went down but it was not an uncontrolled crash it was a nice correction that happened during several days and while the price of bitcoin is only making a mild recovery this is just the beginning, as it is obvious the whales will get back in the market once they see there is enough support coming from retail investors.

[LimLims]

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

See if you want to make great profits then you need to gamble with your money.
For me my sole purpose was to invest in the coin, so if the price also falls down then too i gonna hold.
I will still have hope that BTC will increase once again.
Rather when the price of the coin will fall, i will buy more BTC hoping to make more profits in future.
My strategy might not be pretty impressive, but yes that’s what i will do .

[Xxmodded]

Nothing at all.  I will continue to mine it and hold since at this point is doesn't even cost me electricity on my old ASIC (free power location).  im also quite late to this game since I ignored crypto up until the big boys decided it was worth something.  The volatility doesn't bother me at all.  as i write this its dropped like 7kCAD in a day. people taking the money off the table prob.  tomorrow itll prolly jump again as they reinvest

I think the same, the whales like to play with the price from time to time to see how strong is this market and I think that we have passed this first test, the price went down but it was not an uncontrolled crash it was a nice correction that happened during several days and while the price of bitcoin is only making a mild recovery this is just the beginning, as it is obvious the whales will get back in the market once they see there is enough support coming from retail investors.

the whales  give big impact for many investor when take position what have to do, when getting news about thousand bitcoin transfer from unknow wallet to Binance or coinbase so they will think bitcoin later will have lower price, now we got with future trading whale when some investor wanna get short with higher amount we can see their entry and become recommendation for us what have to do. So far still make whale as my source information what entry have to choose, buy or sell.

[tygeade]

I think the answer is "buy more" for many people. I have seen bitcoin do a correction about 7 or 8 times in the past 5 months and anytime it went down, people ended up buying more and more and the price recovered very quickly, which is why I think people end up buying a lot whenever price goes down. That is a smart thing to do and that is why I think it is quite possible that people end up with these kinds of results, they have seen that if they buy bitcoin, they are going to end up with a lot better results during the falls, and end up in profit during the ups.

I personally haven't taken part in it too many times, just twice so far but I am sure I am going to end up doing a lot better later on. All in all it is obvious that people want to make a lot more profit so they will keep on buying whenever it goes down, which makes me feel better about all these corrections.

[ScamViruS]

The smart to do is to swap or sell for stable coins whenever the market price is falling so fast in order to reduce the effect of loss on one's fund. Swapping to fiat currencies in some the 3rd world countries isn't advisable because their country's currency might even fall as against dollar before they start to buy the coin again.

If traders can anticipate market changes, they use stablecoin to keep funds safe, and again to buy at lower prices. The change in the price of the USD with the change in the price of the local currency often worries traders.

But those who have long-term holders are not too worried about short-term market changes. So they know how to keep themselves safe.

[Yamifoud]

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

I'll change my mind now.
I'd never think that Bitcoin will do the rally reaches at $40k, it is really out of my mind but now, my plan is to accumulate more if the times will come that Bitcoin facing the dips again $5k, $4k just like last year. I could be more positive and prepare my funds for this case.

What happens now gives me some learnings and that eventually gives me positive insights on what is possible to come.

[boyptc]

Only dump would sell their bitcoins cause of the fall in the price. There is nothing to be afraid when bitcoin decline. To me, it is just a correction for bitcoin to go even higher in the future. As a bitcoin enthusiast, I dont mind of it anymore and as you say, holding is the only purpose which guarantee the profit

You don't control the feelings of others.

When they see the dump, it will affect them a lot, and won't feel it's safe to stay in bitcoin and keep holding it. And as a result of that, they panic sell, dump, and forget that bitcoin has been in many series of dumps and corrections.

That's why there's a quote made about weak 'hands selling'.

[TheUltraElite]

why convert to stable coins and not fiat?

Since the market prices are based on crypto<>fiat, say you sold bitcoin at high and the fiat value of that coin is still low if you bought back you could theoretically shift to a stablecoin for the time being till the market drops again to buy back at a greater multiple value. Check yourself what Dollar cost averaging means and you might get a better idea.

See if you want to make great profits then you need to gamble with your money.

I dont think that is going to promote the proper sentiment. You dont "gamble" with your money, but take calculated risks based on previous market metrics. Gambling here will mean pertaining to a casino to the users of this forum.

My strategy might not be pretty impressive, but yes that’s what i will do .

Logically that is what everyone should try. The difficult part is staying on track with the buy low sell high idea.

[Bitcoin-Pro]

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.

you have mistake about calling Bitcoin a currency. Bitcoin is Money, Bitcoin worth it's price as like as gold. but using it as currency with high fees, slow transactions, while there are better coins as like Litecoin, Bitcoin is no longer a currency these days.

I'm Bitcoin user since 2016. I'm holding and spending it to buy products before. but recently it's almost impossible to use Bitcoin as currency like it was before.

My mom tell me about old days, they was using Gold to buy cheap products. now they use Gold as Money, you can't go and buy from supermarket using gold easily as like our parents did before.

same happening now with bitcoin. it won't be usable as currency for cheap products.

[tvplus006]

Literally before our eyes, the question asked in this topic was realized. Bitcoin plunged $ 10,000 down, which means a lot of people have a story to tell.
Namely, how they behaved during this downward movement. Personally, I managed to transfer bts to usdt at a price of 40,500, just before the fall.

That is the basic idea we have to do when the price of Bitcoin increased heavily in the exchanges, which we need to convert them to USDT, in order to protect our profits. It will give the opportunity to buy the Bitcoin again when the price of Bitcoin drops again. That's how we need to play with the cryptocurrency.

In any case, it is very difficult to determine the price when you need to sell bitcoin. Because everyone is waiting for the further growth of the coin, forgetting that BTC needs a correction. And when did you decide at what price you are willing to sell BTC, you need to use a stop loss in case there is a dump.

[so98nn]

Umm, no way I’m not doing that mistake again and again because I have already sold due to fomo. Many times bitcoin went down hard and I sold because of big loss but soon after I sold bitcoin went up like crazy. Even in this bull market I experienced same thing. Now it’s time to stop this bullshit and Keep holding no matter what bitcoin does.

One thing is sure that I will buy even more bitcoins when it will go down hard this time. It’s for the goodness and I know it because numerous investors are now jumping into it and supporting bitcoin. The future is great, if you want to be part of it then just buy more when it hits down the road. 

[RealMalatesta]

you have mistake about calling Bitcoin a currency. Bitcoin is Money, Bitcoin worth it's price as like as gold. but using it as currency with high fees, slow transactions, while there are better coins as like Litecoin, Bitcoin is no longer a currency these days.

I'm Bitcoin user since 2016. I'm holding and spending it to buy products before. but recently it's almost impossible to use Bitcoin as currency like it was before.

My mom tell me about old days, they was using Gold to buy cheap products. now they use Gold as Money, you can't go and buy from supermarket using gold easily as like our parents did before.

same happening now with bitcoin. it won't be usable as currency for cheap products.

It is still money depending on what you are buying, especially if there is an off-chain option. For example I do my namecheap expenses from bitcoin, never used my credit card, and I just put 100 bucks in there and spent about 4 dollars on the fee as well and it was there about 18 hours later (didn't matter, didn't want to put 10 bucks in it) and that was fine, I have spent the same thing for 8 months or so now and I will probably cover another year of expenses from that or maybe put in a little bit more (can use alts as well).

Same goes for places like expedia and booking where you can arrange your vacation, between flight and hotels? That's gonna cost you quite a bit, especially in a European vacation that would be above 1-2 thousand euro easily, spending another 10 bucks or even 20-30 bucks wouldn't really be that shocking, so I would say it would be fine. Long story short it is still a currency, just for bigger things.