[Poll] If this happens, is it time to sell your Bitcoin?

[magneto]

Voted for the fourth option.

I'm keeping BTC as a long term hedge against a fiat collapse, which will be imminent.

I'm not interested in taking profits in the short run quite honestly - you might feel great for a while, and you could even potentially buy back for cheaper, but history has taught us that more often than not BTC will be on an uptrend long term due to its scarcity.

A total collapse? Probably a long way off of that currently. However, we can definitely expect something similar to 2008/2009 where there was a global recession. This has undoubtedly been escalated by Covid, and the measures that needed to be taken for that. A global recession something like 2008/2009, probably bigger is likely to be imminent, but I wouldn't go as far to say that a complete collapse is imminent.

Also, there is likely a ceiling that Bitcoin will hit, as with everything. Though, at this moment considering the currency is relatively new, it's hard to figure out what that ceiling might be when it has already broken a lot of peoples expectations.

Oh, you'd be surprised how fast things can unravel.

Zimbabwe and Venezuela were both very prosperous countries a few decades before their economic systems were subject to complete collapse. I believe one stage Zimbabwe even had a higher exchange rate than the USD.

When your whole economic system is built upon a house of cards, it's not going to last.

[wxa7115]

With some people starting to talk about double tops and calling Bitcoin’s ATH in the rear view, do you think it’s time to sell if we don’t see the stock to flow $100K target hit in December?

With other bubbles in 2013 & 2017 being in December, do you sell next month no matter what happens?

Is it different this time? Will there be no bear market?

I can understand why some people could be interested in selling right now, as they may be expecting that history will repeat itself once again and they want to keep the profits they have accumulated during the past year.

However I think we are slowly reaching the scenario in which we will never have to sell our coins, I do not think the price will crash as massively as it did back then as the circumstances are completely different now, we have institutional investors, adoption has grown massively since 2017 and an economic crisis is looming on the horizon, so I think the market is not going to behave as it did back then.

[Silberman]

Voted for the fourth option.

I'm keeping BTC as a long term hedge against a fiat collapse, which will be imminent.

I'm not interested in taking profits in the short run quite honestly - you might feel great for a while, and you could even potentially buy back for cheaper, but history has taught us that more often than not BTC will be on an uptrend long term due to its scarcity.

A fiat collapse is basically guaranteed as it is impossible to maintain a system that steals from the majority in the form of inflation up forever, however I am not so sure about this being imminent, governments are experts at manipulating the population and most of the population is sleeping and cannot see what is happening, so I would think the current system can last a few more decades even if it is becoming more unstable as we speak, as the pandemic forced governments to print a lot more money than what they would have liked to print and this is finally showing in a level of inflation which cannot be ignored by the population.

[tokeweed]

Interesting poll result...  Would it be possible to know what the rank of those who voted that ‘it’s gonna be different this time.’?  I’d say most of them are newbie accounts and have entered the space around late 2020, early 2021 or so.

[Welsh]

Oh, you'd be surprised how fast things can unravel.

Zimbabwe and Venezuela were both very prosperous countries a few decades before their economic systems were subject to complete collapse. I believe one stage Zimbabwe even had a higher exchange rate than the USD.

When your whole economic system is built upon a house of cards, it's not going to last.

I'd argue that the political stability was much more fragile than that in the USA. We all know that the US has a lot of problems, and at times things can start to look like the balance has tipped, but I still think they've got a lot more resources to combat any significant dip. Civil unrest, and various other factors contributed to Zimbabwe. You're right though, I might be slightly underestimating how quick things can change, though I think I still stand by my original stance, not going to happen anytime soon (within 10 years).

Interesting poll result...  Would it be possible to know what the rank of those who voted that ‘it’s gonna be different this time.’?  I’d say most of them are newbie accounts and have entered the space around late 2020, early 2021 or so.

I tend to find that the older users here are a little more optimistic, than the ones that have just invested. I would wager a guess that most long term users, were hoping for the best which swayed their vote to thinking it was different. For example, I don't actually tend to take notice of much of the patterns, because I like to follow the correlation doesn't equal causation approach. Though, I hadn't voted on this poll.