In this market situation, should everyone be patient or sell?

[Lidger]

The market is currently at a low point from its peak. At the time I was writing this post, Bitcoin was worth $96K. Investors saw their portfolios as rich as they did at $120K, but now their portfolios are not as rich, so many will be disappointed and decide to sell. However, I think we should be patient and trust Bitcoin. Especially those who bought Bitcoin between $115K and $120K should expect good things and hold on to their investments. Since investing in Bitcoin is a long-term plan, we should definitely forget about this temporary profit or loss and look at our portfolios three or four years from now and then make a decision.
Hopefully, Bitcoin will go to a much better level during this time and investors' portfolios will be quite rich.

[blockman]

Not everyone will be patient, those who have bought Bitcoin at a lower price. They can panic as much as they can and sell still in profit but just little lower compared to the ceiling that we've seen. And those who have bought at peak, like the ones you have mentioned, they can wait for as long as they can but if long term profitability we have no idea how long they have to wait for that. So, there is no sense for someone to sell in the end when they are not in profit unless they simply want to cut their losses and they will have to take it.

[salad daging]

Not everyone has the same patience, of course, some of them sell out of panic or fear of further loss when the price of bitcoin continues to fall.

Suppose you are investing long-term why should you sell? Even if you buy in the price range of $115K - $120K it is better to continue to do DCA so that you can get the average price later.

So I will not sell now even though the market continues to deteriorate trying to survive despite the minus portfolio.
If I have more money I would like to buy more gradually.

[Vaculin]

If you have bought your coins when it was $50k-$60k or lower than that, now is the perfect time to sell. Good profits are waiting for you. However if you start buying when the price was already above $100k, keep hodling your coins and try to be patient as much as possible. Otherwise, if you decide to sell, you will surely suffer the consequences from losing.

Patience is paramount especially in a bitcoin scenario like this. Don't be deceived and sell, the price will definitely bounce back in less time and we will witness again bitcoin price surging high. Stay hodling while you closely monitor how bitcoin price recover from its dips.

[aoluain]

All the comments above are right and the OP's thinking is correct too, everyone
should have a long term outlook but the nature of the the Bitcoin market is that anyone
and everyone is free to decide what they want to do and how to react to the market.

I have got to the stage where I react in my own way to market movements and at times
I welcome pull backs like this because they offer great buy opportunities.

We have seen it before, people selling out of panic and then the market actually
bounces back leaving those with regret.

[Spaceman1000$]

Not everyone will be patient, those who have bought Bitcoin at a lower price. They can panic as much as they can and sell still in profit but just little lower compared to the ceiling that we've seen. And those who have bought at peak, like the ones you have mentioned, they can wait for as long as they can but if long term profitability we have no idea how long they have to wait for that. So, there is no sense for someone to sell in the end when they are not in profit unless they simply want to cut their losses and they will have to take it.

Panic as to whether you will sell when there is little profit or lose is the major reason why people are mostly advice to invest with a residual income, because it help reduces panic even when the market is not going in your favor. The market is filled with unpredictability, so in a bid for you not to be cut in the web of panic and uncertainty, you should do well to invest with discretionary funds. However experience has thought one thing while investing, no matter how far the losses appear to be most times, it will get to a point the market will reverse to it normal stage and automatically begin to push upgradually, in situations like, this your patience will be tested  lot of times.

[KiaKia]

It is simple, if you are here with the goal of long term investment there is no reason to sell your Bitcoin, keep holding and you will still be in profit few years later, and if you are here to cycle opportunities then you must have made some money already.

Take profit and leave, not completely leaving the market, hold your USDT and wait for some massive correction, do not listen to people saying you sold too soon, Bitcoin is losing the 50ma already, that signals the Bitcoin bull market is over like it did in the past.

When the dips start taking place then you can start to DCA again, you will make more profits than those who bought and held through the dips, in a few more years you will have better results because you took profit now and buy in at cheaper price.

[Zlantann]

The market is currently at a low point from its peak. At the time I was writing this post, Bitcoin was worth $96K. Investors saw their portfolios as rich as they did at $120K, but now their portfolios are not as rich, so many will be disappointed and decide to sell. However, I think we should be patient and trust Bitcoin. Especially those who bought Bitcoin between $115K and $120K should expect good things and hold on to their investments. Since investing in Bitcoin is a long-term plan, we should definitely forget about this temporary profit or loss and look at our portfolios three or four years from now and then make a decision.
Hopefully, Bitcoin will go to a much better level during this time and investors' portfolios will be quite rich.

Anyone who bought Bitcoin at $115k and $120k should know that there are possibilities that they might not cash out in this bull season. They are supposed to have a long-term plan because they practically bought at the peak of the bull market. They might have to be patient for another four years if the market fails to rebound within a few months.     

Not everyone has the same patience, of course, some of them sell out of panic or fear of further loss when the price of bitcoin continues to fall.

Anyone who lacks patience and is easily moved by FUD shouldn't invest in Bitcoin. The market is volatile and unpredictable. 

[SatoPrincess]

It’s interesting that all the comments so far on this thread are all about taking profits. Why is no one talking about buying the dip? Am I missing something here, is there indication that bitcoin price will continue to dump?

[Solosanz]

If someone didn't sell their coins at $125K, why they have to sold at $95K?

Which mean they shouldn't sell at $95K because they think Bitcoin price would be higher than $125K, it's fine to sell at loss but make sure you sell for emergency needs. Just like me, I buy and sell Bitcoin when the price were $100K-$120K, right now all of my wealth are in Bitcoin, so I'm in unrealized loss.

But there's nothing need to worry, as long as I hold, nothing bad would happen.

[Swordsoffreedom]

As always, in my opinion, it will be up to each investor to continue holding or selling. Because not all of us have the same goals, buy at the same time, at the same price or with the same amount of capital. So, whether to continue holding until the next cycle or sell will be up to each person.

We are not in other people's shoes, so it is unreasonable to give advice to others based on our financial situation and investment portfolio.
But in my view of the market, I believe the bull season is not over yet. Bitcoin will still recover before the end of the year and hit a new ATH, but I no longer expect a $150k target. It is not realistic anymore.

[coolcoinz]

There's a couple things you should consider.

Every time you sell that's also some risk that you take and it's not a free of charge escape to safety. For instance, Coinbase charges you 2%, so selling and buying back again is a loss of 4%.
If you're holding 100k in bitcoin, that's going to be $4k lost forever.

Imagine a situation where you get scared at $100k, wait while it flash crashes to something like 85k and bounces back to 96k at which point you decide to buy back. It looks like you're doing good buying back lower than you sold, but you're not gaining anything, just paying transfer fees, taking a risk holding money on exchange, possibly creating a taxable event, going through KYC and linking your BTC to your name.

There's a difference between unrealized and realized loss. Paying exchange fee and possibly being taxed is realized loss.

[hd49728]

The market is currently at a low point from its peak. At the time I was writing this post, Bitcoin was worth $96K. Investors saw their portfolios as rich as they did at $120K, but now their portfolios are not as rich, so many will be disappointed and decide to sell. However, I think we should be patient and trust Bitcoin.

Investors can have their plans to take profit and withdraw their money out of the market in this market cycle or they have vision of longer term investment so that they plan to hold their bitcoins for many years, several market cycles. It's different investment view and plans from which different investors will have different exit plans and also different emotion at the moment.

Who have plans for this market cycle only but missed the top around $120k for taking profit actually feel regretful and even uncertain now. Luckily for them, if they did their investment well and safe with financial, capital and risk management, they can switch to holding their bitcoins for a next market cycle. It's not their original plan but it's not big matter to change their initial plan a little bit.

With investors who already have longer term plans, they have no fear now as they know what they do, and really ready to hold bitcoin for cycles, not only this one.

[rat03gopoh]

I need to get this straight: are you a speculator or a maximalist? I don't think maximalists need to be taught patience anymore. They have a higher tolerance for drawdowns than investors and have a horizon of over 100 years. lol
If you're a speculator, I have this to say:

• There's no evidence that $96K is a psychological floor or a macro floor.
• Many previous bull market retracements dumped 30-40%, even 50%. From $120K to $96K, that was only 20%.

So, how's it going? Are you feeling any better now?

[Alpha Marine]

There I so much panic about this dip because a lot of people believed bitcoin wouldn't fall lower than $100k, so now they're shocked and worried that it has gone to the $90k region. Part of what gave them that idea was the talk of strategic reserves by different countries, and I remember telling people to tone down their expectations.

As for people who bought when the price was above $100k and are planning to sell, what is the need? What is the need to sell at a loss now and concede defeat when you can just wait and win the battle later? If they bought at over $100k, then they probably have not held for more than a year, and since it's a long-term investment, why not wait for a lot 3 more years? What is the gain in panic selling and then buying again at a more expensive price?

[slaman29]

Sell! Everybody should sell! So the rest of us who don't ask such useless questions can continue to accumulate at good price

I always always think, if you have to ask such questions you are really not ready for trading, really not ready for BTC.

What market situation btw? 95k? OK so down 20%. We've seen worse

[ancafe]

The market is currently at a low point from its peak. At the time I was writing this post, Bitcoin was worth $96K. Investors saw their portfolios as rich as they did at $120K, but now their portfolios are not as rich, so many will be disappointed and decide to sell. However, I think we should be patient and trust Bitcoin. Especially those who bought Bitcoin between $115K and $120K should expect good things and hold on to their investments. Since investing in Bitcoin is a long-term plan, we should definitely forget about this temporary profit or loss and look at our portfolios three or four years from now and then make a decision.
Hopefully, Bitcoin will go to a much better level during this time and investors' portfolios will be quite rich.

Under these conditions, a possible scenario would be losses because people are selling at lower prices than their previous purchases. The disappointment caused by these market conditions will not be beneficial, as they should have been patient and not sold Bitcoin in these conditions. If they were patient and didn't panic excessively, they might have held onto their bitcoin and avoided making decisions that could lead to unnecessary losses. This is why people who don't understand how to properly manage their investments can cause problems, as the Bitcoin market can be quite speculative.

For those accustomed to dealing with market conditions like this, this might not be a problem, as they understand that Bitcoin will always recover, and panic that could lead to losses is unlikely to occur because they are used to dealing with it. Experience will prove someone will achieve success in investing, as people who usually lose money when investing in Bitcoin are not accustomed to dealing with such a speculative market.

[RaraAvis]

It’s interesting that all the comments so far on this thread are all about taking profits. Why is no one talking about buying the dip? Am I missing something here, is there indication that bitcoin price will continue to dump?

I agree with Princess. The key question here is not patience, but if the top was in already and we are heading into the bear market as we speak.
If that is the case no amount patience make any sense. Exit the market to buy back at the bear market lows.

I have come to this forum today to see how many people believe that Bitcoin will still make new ATH in this bull run: December this year or Q1 next year?

I bought the dip yesterday, but to be honest I am not really keen or can easily afford to go all the way under...

Your thoughts please?

[EluguHcman]

The market is psychologically sentimental between investors and their investment and everyone just have to act according to what their risk tolerance.

Some may adapt to others investment tolerance (tips/strategy) and regrets over the time when their patients can no longer condone the market behavior. Some who may put a good understanding with the volatility and uncertainty will be thoughtful that the worse has happened to their portfolio that can not been revert in of the sudden with the price decline and the only way to recover and secure good position with their investment is by re strategizing to hold a longer time.

Your advice is a good one OP but it is usually easy said than done by the skeptics.

[bestcandy]

The market is currently at a low point from its peak. At the time I was writing this post, Bitcoin was worth $96K. Investors saw their portfolios as rich as they did at $120K, but now their portfolios are not as rich, so many will be disappointed and decide to sell. However, I think we should be patient and trust Bitcoin. Especially those who bought Bitcoin between $115K and $120K should expect good things and hold on to their investments. Since investing in Bitcoin is a long-term plan, we should definitely forget about this temporary profit or loss and look at our portfolios three or four years from now and then make a decision.
Hopefully, Bitcoin will go to a much better level during this time and investors' portfolios will be quite rich.

Inasmuch as Bitcoin is more favourable when investor consider making it a long term plan, every investor already know that rise and fall in price is a always the tradition of Bitcoin and this is not the first time we are experiencing dip and as such I don't think selling at this point of time as a good investment decision because it may definitely be at lost instead of profit.
Although, it depends on the rate at which it was purchased or accumulated, many investors have been in the system for very long time and have invested so much when the price was not up to $40k and hold their portfolio till date so if such investors consider selling some of their investment portfolio now they will still make good profit. So in otherwise, selling or holding for long term as result of the current market price depend on investment decision of the investor regarding when and how long the portfolio was accumulated and held.