Smart to sell at a loss in anticipation?

[Admired]

All technical and news relating to the Chinese have been pointing at btc easily reaching $400 or less. I have bought coins at an average of like $600 so I just wanted to hear the opinions of whether its not a bad idea to sell now and buy back more when it hits $400 or less.

[Chalkbot]

It's safer to hold now, and buy more if it hits $400.

[fortune143]

If I were offering you advice I would tell you not to do what you have just suggested and instead hodl all the way.

If you think it's going to rise beyond the amount you bought in for, then what difference will a few $$$'s make?

[Admired]

well the only reason I suggested this is that it is almost sure that the price will drop to $400 or lower and I wouldn't do it if I was on the fence about the price. I can't buy more really if it drops due to having to pay rent and other expenses

[Swordsoffreedom]

It's safer to hold now, and buy more if it hits $400.

This assumes we hit $400 but waiting on this period is a good question on where it will go now

[windjc]

well the only reason I suggested this is that it is almost sure that the price will drop to $400 or lower and I wouldn't do it if I was on the fence about the price. I can't buy more really if it drops due to having to pay rent and other expenses

Assuming you bought with money you can afford to lose, I would hold. This should be a long term investment. Unless you are day trading it. Then you might want to sell and buy back. But the moment you sell, you realize a true loss, so you have to be ok with that.

That's why if you believe in bitcoin long term, are not a day trader, then you should just hold. The market will always go up and down.

[Chalkbot]

It's safer to hold now, and buy more if it hits $400.

This assumes we hit $400 but waiting on this period is a good question on where it will go now

No, the purpose of my suggestion was to safeguard in case it doesn't hit $400. If he went with his plan, he'd sell at a loss, and then wait for a $400 that never comes (locking in those losses). My plan balances the two potential outcomes with an opportunity to cost average down to $500 if price goes to $400.

[infofront]

well the only reason I suggested this is that it is almost sure that the price will drop to $400 or lower and I wouldn't do it if I was on the fence about the price. I can't buy more really if it drops due to having to pay rent and other expenses

Assuming you bought with money you can afford to lose, I would hold. This should be a long term investment. Unless you are day trading it. Then you might want to sell and buy back. But the moment you sell, you realize a true loss, so you have to be ok with that.

That's why if you believe in bitcoin long term, are not a day trader, then you should just hold. The market will always go up and down.

This. The market will almost certainly continue going down in the short-medium term, but eventually it will go back up.

[Admired]

Thats what im saying, if it will almost certainly go down, why not sell now and buy back cheaper?

[windjc]

Thats what im saying, if it will almost certainly go down, why not sell now and buy back cheaper?

What if it doesnt?

[Admired]

Thats what im saying, if it will almost certainly go down, why not sell now and buy back cheaper?

What if it doesnt?

Very small chance imo. Has there been any confirmation of the chinese situation?

[jamesc760]

Sell now, if you can. Short- to mid-term, BTC price will slide down to $250, pre-Chinese buying frenzy of Nov-Dec'2013.

[Swordsoffreedom]

Sell now, if you can. Short- to mid-term, BTC price will slide down to $250, pre-Chinese buying frenzy of Nov-Dec'2013.

Well that does seem about right if China is taken out feel like theres still a gain range though

[zeroday]

All technical and news relating to the Chinese have been pointing at btc easily reaching $400 or less. I have bought coins at an average of like $600 so I just wanted to hear the opinions of whether its not a bad idea to sell now and buy back more when it hits $400 or less.

Too risky. Many people got burned doing so. HOLD and buy more while it drops - is the best strategy.

[chessnut]

Not a good time at all, from a day traders point of view. the panic sellers have just been, now it's up or sideways for some time. think about it.

[porcupine87]

Make your decision based on how much worth this money is to you. In what order can you afford it to lose? I bought 3.2btc with money I probably need the next few month. So I sold 1.5 with a little loss. This is the right decision. I knew the risk and followed a plan.

Sell now, if you can. Short- to mid-term, BTC price will slide down to $250, pre-Chinese buying frenzy of Nov-Dec'2013.

So you think without China the price would have been 250$ until now? All the news about Bitcoin in the western world would have not mattered?
-> This is stupid. There were 12 months and there was development in the Bitcoin space which affected the price.

[cosmofly]

sell it, you will profit

[koryu]

Of course its good if you can sell high and buy low.
but often we see people deciding to sell when the market has already reacted and their short strategy turns into sell low and buy high.

nevertheless you should decide yourself and not listen to anybody. nobody can tell you what happens next.

[nerFohanzo]

It is always gamble waiting for higher or lower price, so whatever you do, gamble responsible

[perlboy]

All technical and news relating to the Chinese have been pointing at btc easily reaching $400 or less. I have bought coins at an average of like $600 so I just wanted to hear the opinions of whether its not a bad idea to sell now and buy back more when it hits $400 or less.

Might be too late now but you could look at shorting with your BTC as collateral. Essentially that'd freeze your $$ position should it turn and hit > what you shorted while gaining the upside of cash if it continues going down. I've followed this strategy a few times when it seems unsettled, sure when it's gone up I've lost a few dollars but when it's gone down I've gained. Set tight stop losses!