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

[centrum]

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.

There is no obligation to keep holding Bitcoin in any market situation. You are the one who determines your own investment plan. If you want to sell, just enjoy the profits you have earned. If you sell at a loss, then that is the current consequence. Some who panic may sell now and hope the price drops further, then they can buy in again at a lower price. But those who have been accumulating for a long time might continue to hold Bitcoin even during a bear market.

it is true that nobody will pressure you to sell the bitcoin you are holding. i have seen many people buy bitcoin for the long term and then, after seeing a market dump, get stressed and sell all their bitcoin. that is not holding, that is panic selling. if you buy bitcoin for the long term, you should not sell it until your target is reached.

now most traders do this a lot: when bitcoin’s price starts rising they buy, and when they see it dumping they sell. then when it pumps again they regret it. alt tokens are a different matter, but buying bitcoin and holding it for the long term is better. because when bitcoin mining is finished, i believe bitcoin’s price will not fall much. so it is better to hold until your target is completed.

[AprilioMP]

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I think it will be unwise to panic sell this period because the loss will be too much especially for those who accumulate bitcoin when the price was above $100k. Instead of panicking to sell at this period, it’s advisable to take advantage of the opportunity and stack even more bitcoin stash into your portfolio at such a reduced price. You didn’t sell When the price was above 100k, now you want to sell when the price is below 100k, that’s very unwise act.

Nobody wants to sell when the traded market price is below the purchase price. If there is and can be proven, then the person is completely uninformed.
A typical person like that should never talk about wisdom because they never know what wisdom is.
Another possibility is that they don't have a mentor in getting to know Bitcoin and or they have never read anything related to Bitcoin at all.
One more thing I noticed from this discussion, he never discussed sales.

[mustapha67]

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.

I really agree with you, Sir! Your first paragraph present a notable reasons why most investors would sell during critical season. Of course, lack of experience is a problem, couple with the fact that people are sometimes pushed to take certain decision due to influence, or fear.

Your second paragraph present a condition of being self-willed, having confidence, and stability no matter what the situation beings around the business. Although, it will take advanced investors to take such determination of holding onto buying more, rather than selling.

[mustapha67]

In as much as Bitcoin investment has some technicalities, investors should also align with such rules in order to survive during market drop, or market rise. An investor who sells bitcoin when market drops may be avoiding further drop which might affect his, or her investment. Also, any investor who buys more bitcoins during market drop may be suspecting a sudden rise (inflation) just very soon. Therefore, selling, or buying just depends on what the inventor believes in.

[GeorgeJohn]

Bitcoin market is unpredictable and it's good if you wants to make predictions of Bitcoin, you have to be careful and understand the chart  especially the movements of candles sticks before you can come up with a personal analysis results, because I noticed that some people doesn't make research before they make analysis of Bitcoin and come up with results...at this point if bitcoin price might fall below the present condition of it's current price....we need to know that price of Bitcoin is unpredictable it can change at any point in time, due to the current situation on ground.

[Chibit01]

Bitcoin market is unpredictable and it's good if you wants to make predictions of Bitcoin, you have to be careful and understand the chart  especially the movements of candles sticks before you can come up with a personal analysis results, because I noticed that some people doesn't make research before they make analysis of Bitcoin and come up with results...at this point if bitcoin price might fall below the present condition of it's current price....we need to know that price of Bitcoin is unpredictable it can change at any point in time, due to the current situation on ground.

Since you already know that the price of bitcoin is unpredictable reading chart and checking on historical price movement won’t still be enough to determine which angel the market will be moving next, for traders they just have to do their best with the information they have at hand if it Favour’s them they celebrate their win and if it don’t then they accept what they see, for investors and holders they should be more focused on how to accumulate using what they have available than trying to predict and unpredictable market.

[Issa56]

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.

If you are disappointed just because bitcoin price dropped, then you should go back and check bitcoin price history, you should go back and take your time to learn about bitcoin investment. I don’t think as an investor that has been in the market for some time will panic or feel bad when the market is down, we are suppose to know it’s temporary, and if you can hold it’s going to bounce back.

Bitcoin price is down right now, it’s another opportunity to accumulate bitcoin at a cheaper rate, so I think people that want to invest should even be happy about that, and if you don’t have any money to invest with, just keep on holding what you having. Investors should know about bitcoin volatility, so they have nothing to worry about as long as they are planning to hold for long term.

[shinratensei_]

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.

If you are disappointed just because bitcoin price dropped, then you should go back and check bitcoin price history, you should go back and take your time to learn about bitcoin investment. I don’t think as an investor that has been in the market for some time will panic or feel bad when the market is down, we are suppose to know it’s temporary, and if you can hold it’s going to bounce back.

Bitcoin price is down right now, it’s another opportunity to accumulate bitcoin at a cheaper rate, so I think people that want to invest should even be happy about that, and if you don’t have any money to invest with, just keep on holding what you having. Investors should know about bitcoin volatility, so they have nothing to worry about as long as they are planning to hold for long term.

I agree and people should just go back and check the monthly bitcoin price chart and figure out whether we're actually still doing pretty well or not.
We're currently just facing a correction, an expected correction at that because we've been above $120k for a long time already. People need to look at the bigger picture not too focused on current correction.

[Oshio-man]

One thing I know is that everybody cannot sell off their bitcoin at the same time in the market, there are some holders that will be waiting for the price to increase more before they can release their bitcoin, while some will rush to sell because they know there will be little income, In this situation on ground, I will advice investors to experience exercises for the price to decrease again because I know it will definitely going to decrease down to touch $70k before some investors will begin to buy and hold for another bullish season to come, if you are planning to sell in this month of December is not a good move because the price has dropped to stage where huge income will not come out from those that want to sell.

[Iranus]

I agree and people should just go back and check the monthly bitcoin price chart and figure out whether we're actually still doing pretty well or not.
We're currently just facing a correction, an expected correction at that because we've been above $120k for a long time already. People need to look at the bigger picture not too focused on current correction.

If you had the chance to choose, which would you choose? You would sell all the bitcoins at $120k and wait for a bear market to buy at a better discount, more bitcoins. Or will you not sell and continue holding until the next bull market?

I bet if given the choice we would all sell bitcoin when the price goes above $120k and wait for the price to drop to buy back. I think the people who feel anxious and frustrated are the ones who have that plan. They feel disappointed that they missed the opportunity to take profits and don't want to hold for another 4 years, not because they fear the bitcoin price will never go back up.

[lizarder]

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.

It depends on the investment concept, as generally, people will hold on and never sell their Bitcoin holdings when the price drops. Especially if someone bought Bitcoin at $115,000 and $120,000, selling at current prices will certainly result in losses, which can be avoided if someone understands Bitcoin's trajectory well. Every decline inevitably leads to a rise, so we should be patient and wait for the process to occur so that our investments do not result in losses caused by unnecessary activity due to excessive panic.

Trust that Bitcoin's price will recover, although we never know for sure when. Moments like this aren't new, but we see them happen all the time. Experience will determine one's attitude in such situations, and if they're used to it, the decline isn't necessarily a bad thing, as we've seen Bitcoin like this many times before.

[Minor Miner]

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.

If you are disappointed just because bitcoin price dropped, then you should go back and check bitcoin price history, you should go back and take your time to learn about bitcoin investment. I don’t think as an investor that has been in the market for some time will panic or feel bad when the market is down, we are suppose to know it’s temporary, and if you can hold it’s going to bounce back.

Bitcoin price is down right now, it’s another opportunity to accumulate bitcoin at a cheaper rate, so I think people that want to invest should even be happy about that, and if you don’t have any money to invest with, just keep on holding what you having. Investors should know about bitcoin volatility, so they have nothing to worry about as long as they are planning to hold for long term.

I agree and people should just go back and check the monthly bitcoin price chart and figure out whether we're actually still doing pretty well or not.
We're currently just facing a correction, an expected correction at that because we've been above $120k for a long time already. People need to look at the bigger picture not too focused on current correction.

What guarantees is there that this is just a correction after bitcoin hit a new ath, and not the start of a bear market?

It is true that when we look at the big picture, we see that bitcoin is still doing very well. But it should be noted that not everyone bought bitcoin at the low price, many people bought bitcoin at the price of over $100k or even $120k because they believed in the indiscriminate advice of others. So there is nothing wrong with them being worried because there is no certainty that this is just a correction and not the start of a bear market, and things will get worse.

In the long run, bitcoin will definitely recover and reach new ATHs. But I don't think anyone would be happy buying for over $100k and only getting 50%-70% return after years of holding. So it's not entirely wrong for those who bought at a high price to feel disappointed or consider selling.

[capokmerah]

The decision to "BE PATIENT" and "SELL" isn't one-size-fits-all.
One thing we must understand is that everyone's situation is clearly different.

In my understanding :
The decision to be patient is generally used by long-term investors. Their financial situation isn't urgent because they're confident in strong fundamentals. Holding is a rational choice.

And the decision to sell is mostly found in investors who suddenly need funds. They can't be patient, perhaps because of a very urgent matter. There are also short-term investors who adopt a strategy of selling some of their funds if they make a profit, even if it's small, and they usually have an entry/exit plan.

[Przemax]

My motto in this situation and in every else, if you need to panic do it fastest you can or dont do it. If you have not sold when it was going down do not sell now. I think its too late. But by all means sell of you have to.

[Don Pedro Dinero]

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?

That's not so much their fault as it is the OP's, who recognises that bitcoin is a long-term investment and asks the opposite question to the one he should be asking. What he should be asking himself is whether to be patient (HODL) or take advantage of these prices to buy more. If by long term we mean at least five years, and you are someone who believes in the future of Bitcoin, these are the two acceptable courses of action (you can only HODL if you do not have any more money to invest).

[Emitdama]

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?

That's not so much their fault as it is the OP's, who recognises that bitcoin is a long-term investment and asks the opposite question to the one he should be asking. What he should be asking himself is whether to be patient (HODL) or take advantage of these prices to buy more. If by long term we mean at least five years, and you are someone who believes in the future of Bitcoin, these are the two acceptable courses of action (you can only HODL if you do not have any more money to invest).

To be fair, buying more depends on your cash reserve, if you have more than you should buy more but do not risk yourself. There are too many people who invest on the edge and because of that they end up with a lot of mistakes, because if you really need the money you are putting into crypto then you are making a mistake and shouldn't have done that. I can see why there are people who are questioning if they should hold or buy, because they are fearing what will happen in the near future.

[abaeze]

Those who bought during the ATH have no worries because they know very well that the price will reach the new ATH again at some point, so selling now will be a loss. As a result, I don't think anyone will lose money knowingly. However, those who bought at a low price and are making new investments should not panic. Because many people are inexperienced and panic even at a slight price fluctuation, which often causes losses.

[SOKO-DEKE]

Every investor aim is to make profit from their Bitcoin investment. So, what will be the case of an investor selling their Bitcoin when they know it is not in profit? I will say that is a very wrong step in Bitcoin investment.

When an investor is expected to sell their Bitcoin is when it has met its profit target. That is the reason why we are always advised to invest only money we can afford to lose, and also to have an emergency fund, so that we do not make wrong decisions by selling Bitcoin at the wrong time such as when the price of Bitcoin is down.

Most reasons why people panic and sell their Bitcoin at the wrong time or think of selling when the price is down are caused by investors putting more money into Bitcoin than they can afford to lose.

[LogitechMouse]

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.

Being patient is good, but depending on how long we are planning to hold Bitcoin, there's a limitation to it as well.

If you're planning to buy during the bear market then maybe taking profits right now is a good thing. Now if you're planning to hold for 5-10 years then just ignore the volatility and just continue buying just like what Strategy is doing. Like what I said, it all comes to hold long you're holding your assets. If you bought at near the peak price, obviously you're at a loss currently, and if you want to hold it for 4 more years then just let it stay, but if you don't then better cut loss, and use that money to buy more Bitcoins during the bear market season.

Investing in Bitcoin surely is long term, but it will depend on how LONG you will be holding it. If you're in profit right now, what I would recommend is take profits now that we are in a bull run STILL (depending on who you will be asking), and use that money to buy more assets during the bear market season.

[Zackz5000]

If they have seen the price touch $120K why sell for something lower to what they can attest for themselves. Why in a hurry to sell over losses than hold patience for the market to make a move, a more reasonable approach will be to include more fractions of Bitcoin if they possibly can, instead of panic, not everybody understands much about Bitcoin investment but patience is a must for every investor.

Selling from here is a bad idea, never talking someone to sell because of little decline in the market that can make a difference anytime soon.

You knw, people always forget how this market behaves… one small dip and everywhere is full with panic, everybody wants to rush and sell like Bitcoin no dey breathe..haha..

But the truth is that, patience is not something you just talk, it’s a mindset. If you have already seen price run to 120k before, why panic at levels we literally passed on the way up? It is like seeing the road before but suddenly acting lost on the way back. Makes no sense nw…

I understand that not everyone has the same risk tolerance.. Some people panic fast, some people DCA, some people just hold and vibe. But selling here… especially inside this kind of normal correction… it is just throwing away the ticket before the show start..

I will say that sometimes people forgot that Bitcoin is a volatile asset if we understand that volatility of Bitcoin we wouldn't panic to sell when the market is bleeding, Bitcoin will always dip and rise it will be good to hodl if you don't have any discretionary income to add up more Bitcoin than selling.

Most people who sold during the dip out of fear will regret selling because Bitcoin is still a growing asset and will continue to grow in the future.

Selling now is not the best option but adding more Bitcoin to your portfolio through DCA strategy and hodl.