Markets taking profit

[Coyster]

It is widely known that those that do well with bitcoin are those that actually believe in the technology and this is because when they see a crash like the one we saw some time ago they do not panic and they can keep holding their coins and they can be part of the recovery we are experiencing right now.

I second that, and for users who believe in the network and have carried out research on the historical price movements would already be knowledgeable in what price corrections are, and when they happen and the price falls/plunges for the meantime, it'll spike/appreciate if the investor hodls for a while; but the thing is, it's more likely the scenario only with Bitcoin, for Altcoins that are more of pump and dump coins which I do not consider as long term investments, it's best to take ROI when you have the chance or before the coin dumps.

[jaberwock]

Just take a wider look to understand:

NASDAQ 100, last month + 8%, last year +60%
S&P 500, last month +6.4%, last year +47%
Bitcoin, last month -4%, last year +639%

Since the start of the COVID (in practice) to now, most indexed have exceeded their average returns, not to mention bitcoin. A movement such as this is a consequence and it may still be followed by more falls without meaning anything other than a profit taking and some caution around the ATHs.

You might be right, but have you noticed that bitcoin has been really strong around the $50,000 price and it hasn’t stayed long below that rate, anytime it does fall below $50k price it quickly recovers again and starts moving up.

But, even at that I do understand that at every time in this cryptocurrency market we have got to be really careful because we can lose our money at anytime, so it’s very important that we plan really well, and if it’s possible we can be taking little profit at every up movement that the market makes, that way we wouldn’t be losing much if it happens to fall.

[Dusang1998]

Yeah its true. Many early investors are probably be taking some of their profits added by some impacts caused by big companies selling off their assets. I also read some article where Coinbase executives sell of their coins after a successful IPO.

well, thats how it all works.Lots of people are useing same strategy

[wahyu wida]

Just take a wider look to understand:

NASDAQ 100, last month + 8%, last year +60%
S&P 500, last month +6.4%, last year +47%
Bitcoin, last month -4%, last year +639%

Since the start of the COVID (in practice) to now, most indexed have exceeded their average returns, not to mention bitcoin. A movement such as this is a consequence and it may still be followed by more falls without meaning anything other than a profit taking and some caution around the ATHs.

You might be right, but have you noticed that bitcoin has been really strong around the $50,000 price and it hasn’t stayed long below that rate, anytime it does fall below $50k price it quickly recovers again and starts moving up.

But, even at that I do understand that at every time in this cryptocurrency market we have got to be really careful because we can lose our money at anytime, so it’s very important that we plan really well, and if it’s possible we can be taking little profit at every up movement that the market makes, that way we wouldn’t be losing much if it happens to fall.

right, careful must always be implanted in us. currently bitcoin has surpassed the previous highest peak, and we don't know whether this trend will continue or will there be a correction first. Even though there was a big withdrawal at Tesla and there was some negative news, FUD didn't happen and bitcoin recovered at a price of $ 50000

[inoes]

Correction is very necessary for a healthy market, but unfortunately the average correction occurs due to BTC dumping, and this is due to the FUD news. less natural. for those who buy BTC or other coins at a bullish price their psychology is definitely disturbed, and their analysis is needed, and must keep calm.
always wary of the hard enough crypto market is the solution. Don't forget to reward your self, while the market is still good,.. 

[lalabotax]

Bitcoin is the one.
When most people can take profits from Bitcoin so far during the bullish trend, it seems very usual. but actually, this will only happen to those that deserves this. The cons are about many beginners are very hard to learn, they prefer to take profits instantly and join everything without any analysis and then ended in scams.
And for us, the market taking profit is something very usual and they will be still volatile so it is better to take profits as long as we can be based on our own strategy.

[wxa7115]

You might be right, but have you noticed that bitcoin has been really strong around the $50,000 price and it hasn’t stayed long below that rate, anytime it does fall below $50k price it quickly recovers again and starts moving up.

But, even at that I do understand that at every time in this cryptocurrency market we have got to be really careful because we can lose our money at anytime, so it’s very important that we plan really well, and if it’s possible we can be taking little profit at every up movement that the market makes, that way we wouldn’t be losing much if it happens to fall.

The strong support at that level indicates that this bull run is nowhere near its end, it is true that we are having trouble going up but I really think this is because investors are getting distracted with altcoins and putting so much money there that they are forgetting a little bit about bitcoin.

Personally I do not really have any kind of problem with that because that is going to help people to accumulate a little bit more bitcoin before the bull run resumes in the bitcoin market, however despite the fact that this is the most likely outcome we need to always be ready for any circumstance actually happening because as we know the market of cryptocurrencies has a tendency of crashing at a fast speed and this is because many traders are using too much leverage and then they get margin calls, crashing the price and generating even more margin calls in the process.

[Ausgewielt]

I am not a trader but likely I am a long term bitcoin holder. It is very common that we experienced bullish and bearish market every year. Even that kind of pattern is very important for me, because my habbit is sell when it's price go up and buy when it's price go down. By what way I can increase the amount of bitcoin that I have. Although I am a long term holder but I always take profit in bullish market trend.

[darewaller]

Bull run will continue for sure but I am not sure at where, thats the question here. I mean we are talking about altcoins pumping so much recently that we forgot that bitcoin was 64k at some point and its nowhere near that level anymore. This is the problem here, we are not seeing that bitcoin is not going up that much and we should be able to see that first hand before we can say that there is another bull run.

I do not mean that altcoins going up is bad, they can go up, if you think I am talking about dominance I am fine with bitcoin going to 100k and ethereum going to 15k, let altcoins go up higher faster than bitcoin but we still need bitcoin to go up. When bitcoin drops, when many coins drop, and then dogecoin goes up, that is not a bull run at all, that is just some people making some quick profit and that's it. Which is why we need some more bull run to confirm what we are doing.

[btc_angela]

Bull run will continue for sure but I am not sure at where, thats the question here. I mean we are talking about altcoins pumping so much recently that we forgot that bitcoin was 64k at some point and its nowhere near that level anymore. This is the problem here, we are not seeing that bitcoin is not going up that much and we should be able to see that first hand before we can say that there is another bull run.

What do you mean that we are not in the $60k levels? The price seems to be on the sideway patterns of $55k-$58k, and so if ever their is an imminent break out run we can touch $60k++ again.

I do not mean that altcoins going up is bad, they can go up, if you think I am talking about dominance I am fine with bitcoin going to 100k and ethereum going to 15k, let altcoins go up higher faster than bitcoin but we still need bitcoin to go up. When bitcoin drops, when many coins drop, and then dogecoin goes up, that is not a bull run at all, that is just some people making some quick profit and that's it. Which is why we need some more bull run to confirm what we are doing.

Patience is the key, we still have at least two quarters before the end of the year. There's so much thing that can happen, maybe we can see the price hitting $100k at the end of the year. It's just the market is resting, or maybe investors are into altcoins right now. But we all know that some altcoins growth are not going to be sustainable and I reckon that smart money will flow into bitcoin again.

[lixer]

I am not a trader but likely I am a long term bitcoin holder. It is very common that we experienced bullish and bearish market every year. Even that kind of pattern is very important for me, because my habbit is sell when it's price go up and buy when it's price go down. By what way I can increase the amount of bitcoin that I have. Although I am a long term holder but I always take profit in bullish market trend.

I think most importantly we have to determine our trading goals, between the short term or the long term. if we are a daily trader, then I think we have a little profit to cut profit. and looking for a reverse price correction to buy. but place a cut loss for each transaction

Yup, as a daily trader your main aim should be making some small profit with the daily up and down in the market, and that’s how you’re going to be profiting. While as for long term traders, they invest and plan on holding for a long term till the price goes up.

Moreover, I am not ready to accept that most of the people are taking profits right now. I believe some people might be doing that as they have misjudged about the future of bitcoins but people who are all believing into the final ATH yet to come, might be simply holding like how I am doing for years.

[wiss19]

Since the start of the COVID (in practice) to now, most indexed have exceeded their average returns, not to mention bitcoin. A movement such as this is a consequence and it may still be followed by more falls without meaning anything other than a profit taking and some caution around the ATHs.

It doesn’t seem to me like Bitcoin is going down even if it will, not anytime soon. The price has been moving upward since, and with the kind of news that I have been seeing about lots of institutions that wants to invest, I don’t think will go down for now, although I do know that there will come a time that a lot of these institutions will start selling their assets, and that’s the time the price may crash, but not now, as they are all just starting to invest in the cryptocurrency market.

[pixie85]

It's normal that people are taking profit but as you can see all lows are quickly bought back.

Profit takers are not going to keep doing it forever. I feel like some traders are moving from Bitcoin to altcoins because coins like doge and chainlink made large gains and bitcoin compared to them looks boring. Traders are following volatile coins and it doesn't mean Bitcoin is losing momentum.

Don't forget that we're still in bull market.

[jaysabi]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

Everybody cared I guess, since that last correction was rather deep. Had Bitcoin only lost a thousand or two in a single day, it would have been tolerable. But it went from almost $65,000 to around $52,000 in around 3 days. It happened so quickly that it came as a surprise. I'm sure nobody expected it. Nobody braced for its coming. No doubt, it raised a few questions.

But it shouldn't be a cause for alarm or panic. If such correction elicited very strong emotional reactions, you're right, perhaps one's investment might be too much. Or perhaps one is just weak or too optimistic or too greedy.

If you're not expecting huge price drops in an asset that is defined by huge price volatility, that's on you I guess? It wasn't surprising to me and it won't be surprising to me when it happens again.  It was only a 20% drop, which is pretty routine even in assets that aren't defined by their volatility (like the stock market at large). Bitcoin has suffered far worse and will suffer far worse in the future.

[boty]

I am not a trader but likely I am a long term bitcoin holder. It is very common that we experienced bullish and bearish market every year. Even that kind of pattern is very important for me, because my habbit is sell when it's price go up and buy when it's price go down. By what way I can increase the amount of bitcoin that I have. Although I am a long term holder but I always take profit in bullish market trend.

long term trading its better if we really want to take gain for long time. return or gain maybe bigger than short term trading and also our psychology not under pressure just like daily trading. buying and selling frequently in my opinion will collect more profit than just hold it. we could accumulate our bitcoin by this strategy , i am already use this strategy and very work for me.

[wxa7115]

Bull run will continue for sure but I am not sure at where, thats the question here. I mean we are talking about altcoins pumping so much recently that we forgot that bitcoin was 64k at some point and its nowhere near that level anymore. This is the problem here, we are not seeing that bitcoin is not going up that much and we should be able to see that first hand before we can say that there is another bull run.

I do not mean that altcoins going up is bad, they can go up, if you think I am talking about dominance I am fine with bitcoin going to 100k and ethereum going to 15k, let altcoins go up higher faster than bitcoin but we still need bitcoin to go up. When bitcoin drops, when many coins drop, and then dogecoin goes up, that is not a bull run at all, that is just some people making some quick profit and that's it. Which is why we need some more bull run to confirm what we are doing.

Speculators are just doing their thing, as we know they do not care at all in which market they make their money, they only care about making money no matter what and they are seeing in altcoins the best means to do so at the moment.

As soon as bitcoin is once again making profits many of them will comeback to the market because even if they know the profits they can get out of the altcoin market are bigger they also know bitcoin is more predictable than altcoins which gives their systems a better accuracy, lesser costs, fees and taxes to pay which is important, so we need to be patient, sooner or later this is going to happen and we need to be invested in bitcoin so we do not miss the growth that is coming.

[Imran232]

Expected because everyone is in profit and some of people those are holding from earlier they are selling their hold so that they can viral some rumor and panic the small investors to sell their holdings and reach the market down so that they can again buy those at the deepest price. Those are the whom we call market manupulator those have the power to do it. And they use their usual power to grab their own profit. And always stay in profit. We are small investors and traders what we can do? We can do our best for our profit thats it.

[bosede1]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

Everybody cared I guess, since that last correction was rather deep. Had Bitcoin only lost a thousand or two in a single day, it would have been tolerable. But it went from almost $65,000 to around $52,000 in around 3 days. It happened so quickly that it came as a surprise. I'm sure nobody expected it. Nobody braced for its coming. No doubt, it raised a few questions.

But it shouldn't be a cause for alarm or panic. If such correction elicited very strong emotional reactions, you're right, perhaps one's investment might be too much. Or perhaps one is just weak or too optimistic or too greedy.

Like you rightly said I don't think we should be so bothered about the drop, we saw the rapid increase from $18 last year November and how it transcends to the $65k you talked about, let the market shake off and let the pump start afresh. Just forget your portfolio for now and you will be good

[Hamphser]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

Everybody cared I guess, since that last correction was rather deep. Had Bitcoin only lost a thousand or two in a single day, it would have been tolerable. But it went from almost $65,000 to around $52,000 in around 3 days. It happened so quickly that it came as a surprise. I'm sure nobody expected it. Nobody braced for its coming. No doubt, it raised a few questions.

But it shouldn't be a cause for alarm or panic. If such correction elicited very strong emotional reactions, you're right, perhaps one's investment might be too much. Or perhaps one is just weak or too optimistic or too greedy.

Like you rightly said I don't think we should be so bothered about the drop, we saw the rapid increase from $18 last year November and how it transcends to the $65k you talked about, let the market shake off and let the pump start afresh. Just forget your portfolio for now and you will be good

But we should be mindful on our holdings too because opportunities for you to sell doesnt come often this is why you should be at least aware on when to get out and take profits.

Unless if you do go for long term then this wont really be an issue for you but if you are just swinging off basing with trends then be aware on when you should get out.

Market cant be called a market if the price is just moving one path or way or direction.There would always be uprising and downward movement thats why you should really be vigilant.

[Oceat]

Expected because everyone is in profit and some of people those are holding from earlier they are selling their hold so that they can viral some rumor and panic the small investors to sell their holdings and reach the market down so that they can again buy those at the deepest price. Those are the whom we call market manupulator those have the power to do it. And they use their usual power to grab their own profit. And always stay in profit. We are small investors and traders what we can do? We can do our best for our profit thats it.

Only weak hands will fall for this who doesn't have a clue about how the market works. Of course, whales can manipulate the market but if you have enough knowledge about the market you won't get fooled by their pump and dump action. Just HODL if you think the market is against to what you see in the news I'm sure weak-handed people will surely dump because they think the market is going to end its bull season.

Be wise if you are here for a long time in this market and stop falling to their traps. How many bull run you should experience before you realize it's all the same routine that these were doing just to get profit?