Thinking about Selling

[HurricanOday]

I have 10 coins right now with an average of around 530. I bought 2 coins at 557 and then 2.863 coins around 635-45, with the rest all being in the low/mid 400s. I was thinking about selling 2-4 coins before the auction to try to buy down lower. Doesn't seems like a great idea but wanted to get some speculated opinions. I can't tell the troll posts from the "normal" posts so I'm not really sure what effect the auction will really have on the price of btc. I would like to get my average down closer to 500 or below but not sure if it is worth the risk

What do people think it will go down to after the auction?



Best case scenario would be to sell and then buy back lower, maybe even a couple extra coins to put me up to 12 or so

[Krabby]

Just watch that support line, we can't go any lower without it breaking and if we do we're f**ked

[fr33d0miz3r]

Just watch that support line, we can't go any lower without it breaking and if we do we're f**ked

We'll break it. See you at $0

[falllling]

after the 20-30% off discount auction of 30k bitcoin, the buyer will surely dump all btc at once, then we shall see $500 and $48x

better sell now or you will lose $$$

[600watt]

if you feel the need to play around with your stash i would recommend usingrisking only 10-20% of it. it can be kind of itchy to watch those price swings constantly thinking about how much one could gain if he had sold to buy more at lower price. but it is a far worse feeling to sell and then the price moves up and not down. you never know if it will come down again to that price, and maybe you end up waiting and waiting (the moment you buy back at higher price and finally swallow the loss of precious btc will be the moment when it actually does go down...)
if you want to gamble then just don´t do it with your entire stash, others did and some of them turned into btc hating trolls.  

[fr33d0miz3r]

after the 20-30% off discount auction of 30k bitcoin, the buyer will surely dump all btc at once, then we shall see $500 and $48x

better sell now or you will lose $$$

I doubt the auction price will be higher than $50

[TERA]

If you're going to try to trade, I would recommend doing it based on some solid TA - not just a belief that the auction will lower the price - it might not, and then you're screwed. If the auction coins are not dumped, it might have a reverse effect where a bunch of traders who sold due to the auction have to panic buy back.

[Diabolicus]

If you're going to try to trade, I would recommend doing it based on some solid TA.

What a contradiction in itself.

I suggest you toss a coin and either panic now while you still can make a decent profit, or grow some balls of steel until we hit the next ATH :-D

[abacus]

What do people think it will go down to after the auction?

I wouldn't be so sure that price will go down.

Give a look at these two other threads, there're some good thoughts about the topic:
FBI coins could sell for a premium
Do you think U.S. Marshall auction 29,656.51306529 bitcoins will affect price?

[lumierre]

What will you do after you sell? Buy back? That means you are bullish and most likely the market will also do what you're going to do. It's a classic bear trap IMO.

[600watt]

http://crypt.la/2014/03/09/10-professional-bitcoin-price-predictions-2014/


watch it unfold & relax 

[zby]

Just watch that support line, we can't go any lower without it breaking and if we do we're f**ked

But do you mean:

1. This is such a strong support line - no chance that it will break - hold

or

2. If it breaks such a strong support line - then it will go down back to 400s and maybe even it will retest 339. Sell now when you still have some profit.

[Krabby]

Just watch that support line, we can't go any lower without it breaking and if we do we're f**ked

But do you mean:

1. This is such a strong support line - no chance that it will break - hold

or

2. If it breaks such a strong support line - then it will go down back to 400s and maybe even it will retest 339. Sell now when you still have some profit.

I would be quite surprised if it did break due to it's large significance over the past 2 years.
On 'normal' volume I would not expect it to break but you never know with this SR auction we might get some high volume dumps.

Anyway, I'm bullish and think after the auction will be the best time to buy a long as we are above the support line..

[Miz4r]

I would not sell now while we're setting just above a long term supporting trendline around $550. If we break that with volume only then I would sell some, betting on a 1.5 year old trendline to break is not a very good bet imo. This also brings up an interesting conundrum for the winning bids on the upcoming auction. If the winning bid is too low they will have to keep quiet about or risk the price breaking long term support and seeing their investment not do very well. Even if the winning bids don't leak out then it's pretty safe to assume the winners got their coins way below market price because had they got it at market or higher they would want to make that public to instill confidence and protect their investment. So from a game theoretic perspective I believe the winning bids have to be very close to the current market price or higher, which makes it unlikely long term support is going to break.

[spazzdla]

To be a BTC holder requires you have the balls of balls of balls. 

Perhaps gold is best for you OP, you can touch it and it won't crash on you.  Don't expect large gains though and don't blame me when you are smashing your face off the keyboard because BTC has jumped 10x you buy in and it crashes 5 fold and end up living in a box...  You've been warned.

[SirChiko]

after the 20-30% off discount auction of 30k bitcoin, the buyer will surely dump all btc at once, then we shall see $500 and $48x

better sell now or you will lose $$$

Is it really you fonzie? It seems so...
Don't trust this guy these coins won't be sold altogether they will be separated into more piles and actually big % of these people are bitcoin supporters and these are only "legal" coins sold by feds or the most trusted party wich is goverment so they may actually be sold over the current price and if no i think that most of them will be holded and not dumped anyway.

[Torque]

Here's what most people that are scared to be underwater with bitcoin don't understand. Go look at the historical data.  Between the bubbles there's only about a 3-4 week window at most out of the whole 6-8 months that you can purchase bitcoin and be pretty much guaranteed to be in the black until the next bubble.  For the rest of the time, the price will likely dip below your buy-in price at one point or another.  Unfortunately, most bitcoiners have purchased bitcoin outside of this narrow window (because it's hard/impossible to predict the true bottom), and thus spend most of their time with their investment in the red until the next leg up.  Well, unless you are a day trader that is, who panic sells every time the price gets even close to their buy-in or stop loss.

That's why the most sensible option is to hold, especially during the uptrend phase.  

OP, you just so happened to buy when the timing was good.  Don't lose your nerve now just because you haven't seen any upward movement in a while.  Being able to buy back cheaper is not at all guaranteed.  If you want to acquire more bitcoin, the safest thing to do is just hold and buy more on the dips.

[houseo]

the amount of coins being auctioned represents about 8 days worth of mining. it won't have a significant effect on the price of bitcoin.

[houseo]

the amount of coins being auctioned represents about 8 days worth of mining. it won't have a significant effect on the price of bitcoin.

what will have a more significant effect on the price is not how much the coins are bought for, but who buys them. we've seen a partial list of bidders. if someone like BNP Paribas buys them, even at a discounted price, the value of bitcoin should go up.

I don't really see what party buying them would cause the value to dip.

[MatTheCat]

I have 10 coins right now with an average of around 530. I bought 2 coins at 557 and then 2.863 coins around 635-45, with the rest all being in the low/mid 400s. I was thinking about selling 2-4 coins before the auction to try to buy down lower. Doesn't seems like a great idea but wanted to get some speculated opinions. I can't tell the troll posts from the "normal" posts so I'm not really sure what effect the auction will really have on the price of btc. I would like to get my average down closer to 500 or below but not sure if it is worth the risk

What do people think it will go down to after the auction?

Best case scenario would be to sell and then buy back lower, maybe even a couple extra coins to put me up to 12 or so

See these 3 red lines:



If Bitcoin pops through the bottom support trend (in place since Jan 2013) on strong volume, then drop your BTC like they were hot coals.

If Bitcoin gets above the middle one, then that is a good sign but nothing more than that.

Only when/if Bitcoin breaks through the upper red line, would that be a strong sign that we are good until at least $720-$750.