A whale took profits for the first time since 2010 sold 1000 Bitcoins

Marvell1

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Quote from: BITCOIN4X on March 10, 2024, 10:23:11 AM

Quote from: Marvell1 on March 10, 2024, 08:06:49 AM

Quote from: bittraffic on March 07, 2024, 09:49:08 AM

~Snip

Taking profits is never wrong and people who are satisfied with what they have will often feel happy. What if bitcoin doesn't rise to $120k and falls to $30k, have you thought about that situation? In addition, selling 1000BTC for 60 thousand dollars also brought him millions of percent profit, do you want more? Everyone has their own goals and plans, I won't be too skeptical about their decisions just because they don't think like us.
1000BTC is huge for every investor, but compared to the market it is nothing so don't be too skeptical about everything, this is just a normal profit taking action.

Of course, that's not a bad thing to do even though it could actually get higher returns if it held longer. Selling all the bitcoins in your wallet right now may be very tempting especially since the price is already at a new ATH, but however the price may be more expensive in the future as the halving could trigger a lot of fomo among investors and traders.

Taking profits now with some of your bitcoin is a wise choice, but one may want to sell them now and enjoy them rather than waiting a long time. 1000 bitcoin = $69 million, that's a lot of money to reinvest and diversify into some real assets and also crypto at lower prices.

That guy bought bitcoin for $1 while we bought bitcoin for $10k, $20k, someone even bought it for $40k. That means his profits and ours are very different, even a huge gap. Let's stop imposing our thoughts on others and don't think they are wrong for not waiting a little longer to sell bitcoin at a higher price. If we only spent $1k and made a profit of $60 million, would we want to be more greedy?

Those of us who are buying bitcoin for $20k will sell bitcoin when the price reaches $100k and it only increases 5 times, while his profit is several million times. I don't see any reason to hesitate and not sell them.

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Quote from: doomloop on March 10, 2024, 11:59:24 AM

The most probable reason for why he sold now and didn't wait further is maybe because he needed funds or maybe he is satisfied with the gains and didn't want to wait any longer for any reason known only to him. Who knows? He might have more Bitcoins stored somewhere else and has just sold a small portion of what he holds.

Whatever could be the reason, still overall I love news like these. It makes me feel so happy for the people and it looks like it is going to actually be a good decision, it doesn't mean that we are going to end up with a good or bad decision, of course its going to take some time, but we are at least there, it means a lot. I hope that people could see how great this is, because someone who has been holding for that long finally selling has two great reasons to be happy about.

First of all, it is great because it means less money at long term holders, more money and liquidity for the market and that is always a good thing.

Secondly, it shows that we are growing so much and we are in a good state which is proven by someone finally selling a lot of coins to enjoy after enough patience. Everyone needs money and we cannot complain about selling at the beginning of bull run as halving is on due this year. I am happy when I am able to convince to be a long term holder and more happier when a long term holder enjoys the fruits of their patience.

adaseb

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Some company did an analysis on this individual and they concluded that he most likely has sold in the past similar amounts.

They think he was one of the first GPU miners since most of his blocks found were when the total hashrate was around 5 Gh/s. Which is extremely small. So he could of mined 10000-30000 coins and sells them every few years to take profit.

doomloop

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Quote from: bittraffic on March 07, 2024, 09:49:08 AM

The more I think of the reason why he took profit at the time when people were holding, I think know something will happen that we don't. It could be that there will be a massive sell off?

Why do you think he knows something that we don't? Do you think he is supernatural and can see the future or he has a crystal ball that shows him what is going to happen in the future? If it's none of two, then there is no way for him to know what we don't because no one in the world can know what exactly is going to happen in the future, and we all, including the utmost experts of the market, just make predictions and speculate on the future outcomes.

The most probable reason for why he sold now and didn't wait further is maybe because he needed funds or maybe he is satisfied with the gains and didn't want to wait any longer for any reason known only to him. Who knows? He might have more Bitcoins stored somewhere else and has just sold a small portion of what he holds.

ajiz138

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Do we need to stick around for 15 years to take the same advantage? I think the whale has long invested in other fields for a long time so when buying bitcoin first until now it is able to survive, try to imagine if it is in our position is it possible to continue to hold? We are more curious and in the end it is sold when it is 2x profit.

One of the best ways to take long-term profits is to stick to HODL how strong you do that then the feasibility of profit will be much greater, then we need to have the courage to last for 15 more years or even two decades.
Accumulate over time it will be better but how strong will you be to buy in a high price situation that should sell to take profits.

dothebeats

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That man will live the rest of his life as a freaking millionaire and will never need to work for a single day again. I usually just sell 'some' of what I have during bull runs, and just rebuild when there's blood on the streets. The proceeds of my sale usually goes to other investments that I have, and some I use to indulge a little. A thousand bitcoins may seem a lot, but during bull runs, it gets easily eaten by the volume and will be changing hands a lot of times before the hype dies down.

I say congrats to that man for hodling for 14 long years.

dimonstration

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Quote from: snipie on March 10, 2024, 11:05:26 AM

Quote from: famososMuertos on March 10, 2024, 10:24:33 AM

Man, seriously, we speculate about the price or thinking about why 1000 BTC are sold, the reasons can be funny or diverse, although they are from the year 2010, it only indicates as a good example that Hodl is not eternal.

Everyone holding Bitcoin will sell it one day and start investing the money again in a way or another.
Since Bitcoin passed $70k and he sold at $69k then you could imagine how much he missed if he waited just more days!

Considering the time that he waited and how price keeps up and down hard. That 1M the he missed out is probably the amount he can get or less if he recover the wallet earlier. I think the time of waiting is already enough to take profit since there’s no guarantee that the price will still move further above 70K.

I will do the same to take profit as soon as the price hit the previous ATH if I accumulated my Bitcoin 14 years ago. Instead of risking more and take profit less once the price crash.

snipie

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Quote from: famososMuertos on March 10, 2024, 10:24:33 AM

Man, seriously, we speculate about the price or thinking about why 1000 BTC are sold, the reasons can be funny or diverse, although they are from the year 2010, it only indicates as a good example that Hodl is not eternal.

Everyone holding Bitcoin will sell it one day and start investing the money again in a way or another.
We should be happy that BTC1000 returned to the circulation after being out of the market for more than a decade Wink

Since Bitcoin passed $70k and he sold at $69k then you could imagine how much he missed if he waited just more days!

famososMuertos

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Man, seriously, we speculate about the price or thinking about why 1000 BTC are sold, the reasons can be funny or diverse, although they are from the year 2010, it only indicates as a good example that Hodl is not eternal.

It seems that for some there is always a better price, in this case 100,000 in percentage terms, 30% more, and that surely when we are at 100,000, some will say: 150k...!

Fortunately this guy sold theirs BTC from 2010: ty, Well done.

Consequently, those who bought today in 2024 will sell in 2050, it will be news or it will be normal in those years.(!?)

Anyway, what interests us here is knowing that the mythical 100k that seemed like the "psychological" barrier to overcome began very early with the 70k range.
Since, exceeding 70k meant a direct destination to the moon (100,000)...

BITCOIN4X

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Quote from: Marvell1 on March 10, 2024, 08:06:49 AM

Quote from: bittraffic on March 07, 2024, 09:49:08 AM

~Snip

Taking profits is never wrong and people who are satisfied with what they have will often feel happy. What if bitcoin doesn't rise to $120k and falls to $30k, have you thought about that situation? In addition, selling 1000BTC for 60 thousand dollars also brought him millions of percent profit, do you want more? Everyone has their own goals and plans, I won't be too skeptical about their decisions just because they don't think like us.
1000BTC is huge for every investor, but compared to the market it is nothing so don't be too skeptical about everything, this is just a normal profit taking action.

Of course, that's not a bad thing to do even though it could actually get higher returns if it held longer. Selling all the bitcoins in your wallet right now may be very tempting especially since the price is already at a new ATH, but however the price may be more expensive in the future as the halving could trigger a lot of fomo among investors and traders.

Taking profits now with some of your bitcoin is a wise choice, but one may want to sell them now and enjoy them rather than waiting a long time. 1000 bitcoin = $69 million, that's a lot of money to reinvest and diversify into some real assets and also crypto at lower prices.

Marvell1

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Quote from: bittraffic on March 07, 2024, 09:49:08 AM

But why now when the price could go further up to $120K?
He waited since 2010 and then did not take profit back in 2021 at the same price back then so why not wait til 2025 ATH this is probably the biggest that he could get and not just $70M.

The more I think of the reason why he took profit at the time when people were holding, I think know something will happen that we don't. It could be that there will be a massive sell off?

Taking profits is never wrong and people who are satisfied with what they have will often feel happy. What if bitcoin doesn't rise to $120k and falls to $30k, have you thought about that situation? In addition, selling 1000BTC for 60 thousand dollars also brought him millions of percent profit, do you want more? Everyone has their own goals and plans, I won't be too skeptical about their decisions just because they don't think like us.
1000BTC is huge for every investor, but compared to the market it is nothing so don't be too skeptical about everything, this is just a normal profit taking action.

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Quote from: TheGreatPython on March 10, 2024, 01:25:02 AM

The guy got $69 million for coins that he either bought for less than $100 since the price was barely around $0.1 or mined for free because, at that time, one could mine Bitcoins using a personal computer without much computing power because of its low mining difficulty and because of no much competition in the mining sector of it, there were barely a few people that knew about Bitcoin and made transactions with it back then.

What I find surprising is that he didn't wait longer, he has probably been following up with the market and could see that Bitcoin has hit a new all-time high way before the halving event, which means that the price can go way higher than this after the halving which is what it usually does.

The opposite happens to me, what surprises me is that he has waited so long. Would you wait 14 years without knowing if bitcoin is going to disappear or not? Think that in 2010 bitcoin was nothing more than a very volatile sort of startup. And in 14 years you don't know if you'll still be alive. It's probably someone who had quite a lot of money, apart from that amount of bitcoin, because people who are drowning in their meagre resources can't hold on for nearly that long.

TheGreatPython

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The guy got $69 million for coins that he either bought for less than $100 since the price was barely around $0.1 or mined for free because, at that time, one could mine Bitcoins using a personal computer without much computing power because of its low mining difficulty and because of no much competition in the mining sector of it, there were barely a few people that knew about Bitcoin and made transactions with it back then.

What I find surprising is that he didn't wait longer, he has probably been following up with the market and could see that Bitcoin has hit a new all-time high way before the halving event, which means that the price can go way higher than this after the halving which is what it usually does.

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Quote from: bittraffic on March 07, 2024, 09:49:08 AM

But why now when the price could go further up to $120K?
He waited since 2010 and then did not take profit back in 2021 at the same price back then so why not wait til 2025 ATH this is probably the biggest that he could get and not just $70M.

The more I think of the reason why he took profit at the time when people were holding, I think know something will happen that we don't. It could be that there will be a massive sell off?

maybe he took 69k and a lot of coins in nov 2021

and now took 69k a lot of coins in in mar 2024

and still has 8,000 coins left.

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First how and you know that the whale actually sold his Bitcoin, just because by just saying that the Bitcoins were moved from the wallet to an exchange does not signify that he sold out already, because he may have moved the coin there for any other possible reason that could have been the reason.

So for the above reason, there is no way we can know what and how far a whale has gone with his bitcoin holding either he wants to hold them on the exchange instead of his personal wallet that has been left dormant since 2010 that was stated in the article posted.

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Quote from: philipma1957 on March 07, 2024, 09:05:13 AM

Quote from: peter0425 on March 06, 2024, 10:55:02 PM

Quote from: Ojima-ojo on March 06, 2024, 10:21:59 AM

As Bitcoin touched its all-time high of $69,000 on match 5th so many whales and old wallets take profits, as Cointelegraph captured today, allot has been going on regarding Bitcoin price and since the bull run is already here, so many old wallets will indeed take profits, this is the advantages of Bitcoin long term approach, because this whale, in particular, was said to have been holding since 2010.

What are your thoughts on the current Bitcoin price and how best can taking profits help in increasing your overall Bitcoin accumulation journey?

Link article: https://cointelegraph.com/news/bitcoin-retraces-ath-btc-hodlers-profit?fbclid=IwAR0d3bF9soyuXJa3rOAnkhyiUdrdcKBSScDKTPLTL6XqmHFFIY3qKAD7Vd4

This is normal thing from those who wanted to taste their profit knowing that this Whale have been holding since 2010? damn that is a great opportunity for him to finally spend his long waited income.
those are the people in which We are cryptonians love seeing when people are making their way to the top.
that would be 6.9 million$? what a big money to withdraw.

1000 x 69000 = 69,000,000 = 69 million not 6.9 million

Maybe he has 1000 or even 10000 more coins

For sure he hasnt sold all on which he might released either 1/4 or 1/2 of his bag or even just that lesser. It would be impossible for an early adopter or miner that he would be making that all in sell
considering that he had seen on how Bitcoin increase into its price on which it is enermous and that 14 years of waiting is really that worth. Profit taking? This is always been that a normal thing
and if that person considered out on selling out his coins then there's nothing we can do about that. It could make out that significant drop but it wont really be something that do last.
Dip would be eaten on which this one is already that anticipated.

thecodebear

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Weird time to take profits, right at the start of the bull market, after waiting 13 years haha. But hey if the person has thousands more bitcoin maybe they don't mind only getting $60-something million for 1000 btc instead of waiting a year to get like double that. Either way they are filthy rich.

bittraffic

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But why now when the price could go further up to $120K?
He waited since 2010 and then did not take profit back in 2021 at the same price back then so why not wait til 2025 ATH this is probably the biggest that he could get and not just $70M.

The more I think of the reason why he took profit at the time when people were holding, I think know something will happen that we don't. It could be that there will be a massive sell off?

philipma1957

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Quote from: peter0425 on March 06, 2024, 10:55:02 PM

Quote from: Ojima-ojo on March 06, 2024, 10:21:59 AM

As Bitcoin touched its all-time high of $69,000 on match 5th so many whales and old wallets take profits, as Cointelegraph captured today, allot has been going on regarding Bitcoin price and since the bull run is already here, so many old wallets will indeed take profits, this is the advantages of Bitcoin long term approach, because this whale, in particular, was said to have been holding since 2010.

What are your thoughts on the current Bitcoin price and how best can taking profits help in increasing your overall Bitcoin accumulation journey?

Link article: https://cointelegraph.com/news/bitcoin-retraces-ath-btc-hodlers-profit?fbclid=IwAR0d3bF9soyuXJa3rOAnkhyiUdrdcKBSScDKTPLTL6XqmHFFIY3qKAD7Vd4

This is normal thing from those who wanted to taste their profit knowing that this Whale have been holding since 2010? damn that is a great opportunity for him to finally spend his long waited income.
those are the people in which We are cryptonians love seeing when people are making their way to the top.
that would be 6.9 million$? what a big money to withdraw.

1000 x 69000 = 69,000,000 = 69 million not 6.9 million

Maybe he has 1000 or even 10000 more coins

LoyceMobile

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You can't possibly know if someone didn't sell before. Changes are whales have more than one wallet.

Topic: A whale took profits for the first time since 2010 sold 1000 Bitcoins (Read 361 times)