Topic: Are you tempted to sell? - page 14. (Read 3470 times)

Selling now is like wasting the coins because this kind of drop in price is something that happens often and those that have been in bitcoin for long can confirm that. The worst thing any investor can do is to yield to the temptation of selling in such situation even though he might have bought at lower prices and in good profits even with the drop in price. Furthermore, we are in a time where there are several positive indices lined up to support bullish move for bitcoin so now is what I see as a time to buy more or HODL rather than to think about selling.

Actually the opposite is more true, Im afraid not to buy.   Ideally I want the low price when buying but the big mistake is waiting too long and this could be one of those times.   Wall of worry they call it where the price while fear is apparent BTC is secretly far more bullish then people believe at the time .

Aug 5th is some distance about 6k, not massive but I'm guessing for now we are possible in journeying back to that point.  It might be a winding road or it could be a fall but I doubt its quite the same sharp push downwards.   Alot matters here, if we find this sub 58k area (78.6% Fib level of old ATH) as some resistance & some ceiling to movements then a revisit of 50k area is fair to occur.   If we beat this level then it might never be this negative again like ever, imagine not buying then and wasting time on this sell question;  it can be quite opposite.

Day traders Future traders are the ones who are more affected by this unexpected bitcoin price drop, as they were not expecting it to happen. Most of them will sell out of panic because the plan was never to hold for a long period of time, but those who are buying to hold for a long period of time will not be tempted to sell any single unit of their holding during this period. In fact, that might even be taken the other way around, buying more instead of selling what they have at a cheap price.

I don't plan to sell, but i know that there are people that have different plans and if think they cannot handle the drop and they have to either sell or move to USDT for the meantime, then by all means they should do so, but i personally would not do that.

I have seen this drops happen quite a lot of times over the years to be worried about it. Instead of worrying, i try to accumulate more, but i am not stupid not to know that some people cannot handle drops like this, either because they are newbies or they bought with money they cannot leave in the network for a long time, so they should do what they think is best for them.

Of course, for those who are not used to price drops like this, they must panic, especially with a 12% drop in 24 hours plus a stock market crash, of course panic is inevitable. However, for long-term investors, a drop like this does not worry them, instead they take advantage of the moment of a drop like this to buy again because for them when the price of bitcoin drops like this for investors it is a discount price.

I myself am not panicking, it's just that I also take advantage of this drop to take a little profit, like the other day selling when the price was $68k and buying again when the price was $ 50k. The rest I still use the dca method because this kind of decline is common, I am sure bitcoin will go up again. So far when I hold bitcoin for the long term it feels safe compared to holding altcoins for the long term.

If you are noob into this market then you would definitely freak out but if you are someone whose been into this market for years then it would really be already a normal stuff that it is really that happening. Adjustments should really be made on the moment that it do happens. Instead on making yourself that freaking out on such condition, it would really be just that wise that you should really be making up some DCA and never ever tend to make that cut-loses action because it would really be just that making the situation even more worst. This is why you should really be that sensible on the actions that you would really be gonna doing because on the time that you do find yourself being too impulsive then it is really that prone to tons of mistakes.

This is why its really that important on such situation that you should really be having that kind of control into your emotion because this is usually the culprit on why people
do commit out that panic selling on the time that they are already thinking that the market would become zero. LOL!

The retracement happening as called by OP isn't something new to the Bitcoin market, it has happened before and should not have to be a problem or get to influence anyone into selling even parts out of their portfolio except for those who did not come to hold because every holder before investing will first acknowledge the historical existence of Bitcoin which has similar retracement like this or even worst.

Best how you distinguish "trader" from "investor" who supposingly should panic, every investor is entitled to hold but traders are liable to sell (optional) because they most drive for short term signals to earn profits while investors are aiming for the long run.

Pretty sure this has been a usual thing since, like, forever? Like a 12% drop isn't anything new or rare, the market has always dropped and pumped like that every so often. It's just that volatile in nature. Also if you've bought it at a higher price, I don't see any reason why you should sell. That's just you accepting a loss when you can still wait. If you can't afford to wait, then why would you invest in the first place? Always invest money you can afford to not spend, to let it sit there and grow.

Also I'd consider buying even! Can't buy now due to some other expenses but I did buy during the last similar dump we had like a month ago.

That trust towards bitcoin is something that we will definitely benefit from, you have to have that and you could see that doing very well if you keep trusting because results will show that you are right to trust it as well. I know that it is not a simple situation and I know that it takes time, but we need to make sure that we can deal with that as much as we possibly could.

I believe that we are going to face some issues with some time, that is why trusting it is something that will actually be very profitable, that is what we are going to see. I know that it is not going to be easy but we are going to face that eventually so we are going to definitely end up with a good result, just keep on trusting and volatility will make you richer.

I like this principle, it's best to have kind of trust if you really believe that you pick the right investment, you won't be bothered by any movement knowing that at the end of the day it will reached the value that you select before selling your holdings, though it's tough since by watching how the market moves and how this volatility really scared those weak holders, if you don't have that strong understanding you might also fall from selling as you might being shake by the situation.

If you don't trust altcoins, why did you invest in them in the first place and then have to cut losses? Why wouldn't you buy all the bitcoins if you believe it's the only coin that is sure to recover after every market correction?

In addition, only shitcoin disappears completely after each market correction, if you are investing in top altcoins like sol, BNb...most of them have recovered or even recovered better than bitcoin every time the market recovers. For example, Solana quickly recovered above $150 after being dumped below $110 on the day the entire market corrected.

What I want to say is, if we are afraid and distrustful of altcoins, then we should not invest in them in the first place. If we are willing to take risks and decide to invest in altcoins then we should be confident in our choice.

I don't see it your way, you do not have to feel uncomfortable about a market only when you invest the amount that you can't afford to lose. It partly depends on the kind of investor you are, there are aggressive and conservative investors, and no matter how affordable the amount the conservative investor commits to the market, they will always be in the defence of their asset and manage their portfolio properly. A little drop means too much pain for them, so they may actively be monitoring the market situation to divest at the slightest detection of a threat to their asset.  I don't see fear there but smartness/proactiveness

I like your advice about buying Bitcoin at a lower price and the DCA approach is a very good one to achieve this as well. But I am not so comfortable about blindly purchasing Bitcoin all the time like many are saying, I will only use the reality on my trading cart as a guide for my decision. I misguided myself due to many pieces of advice on Bitcointalk and abandoned my reliable investment plan, which I regret this year with the market situation.

The best is to act based on the prevailing market condition and not always blindly accumulate Bitcoin. What if unforeseen circumstances later happened, or have you been to the future to know what Bitcoin would do in the next 10 years?

I can only sell at a time like this when it's altcoin. If I hold an altcoin and see the price dipping, I'll quickly sell to get whatever profit I can get or avoid further losses. But when it's Bitcoin, even though I don't like to see it going down, I will not sell. I could have sold when it was at $70k, so what's the point of selling now when I can just wait for the price to get back up?
I'd sell Altcoins because you can't be sure that it will rise again after such a dip, but with Bitcoin, it's almost certain that it will rise again. It may not go back to its previous price just immediately but it will gradually get back up.
BTC is at $57k now after dropping down to $49k a couple of days ago, people who bought at $49k have already made a profit of about 16%.

Many traders will panic and sell their coins. But only the OGs, who know the movement of Bitcoins are still holding the coin. I myself holding good amount of money in Bitcoins and I don’t feel fear by seeing these price drops. The whole crypto market and stock market crashed in the previous week. I myself lost 2000$ while trading in futures in the BTC/USDT pair. Hence, it’s just a part of life. If you are holding good amount of Bitcoins, then no need to panic. Just continue holding it for at least 4 years, and definitely you will see good profits.

Exactly, I'm looking at the volume and it seems down but the market has recovered already to $56k. Which means there could be sellers still but there are wise investors who keep buying (instead of selling), in the current status of the market.

Bad timing though for those who needed money and then they will have to sell at this point and not when the price is at peak a couple of weeks back at $70k. But that's life though in this market,  it's very volatile and we really don't know where the price is going to be in the next hours or so. But hopefully, majority didn't dump their stash just because they are nervous on what they are seeing.

The rate at which the price of Bitcoin is going up and down at present is creating confusion among investors every moment. Whenever we imagine that the price of Bitcoin might be going up, the market turns upside down, ie the market goes down. But the OP has no desire or plan to sell even in such bearish market conditions. We tend to hold more patiently for a longer period of time in these tough conditions and not even sell the investment until our target price is reached.

We all probably know how Bitcoin market has faced in 2023. We saw Bitcoin drop below $30,000 that year and the market bounced back to all-time highs, which is a historic high. The dip season that is currently going on in the market may turn around from here and reach the bullish season.

I want to understand if you are of the opinion that converting to USDT and waiting the bottom to revert to BTC is what 70% of the investors will opt for? If yes, I do not think that information is accurate because 70% is too high a number as I feel majority are sitting tight and waiting the bleeding out with their assets in BTC. I have no record for this but the few persons I know are simply crying but unwilling to sell at loss.

I'll also not completely agree with you here because this year is significant in many fronts. The first part being that the effect of the halving and ETF are not completely over and by previous records, Bitcoin will still respond to the halving as we go closer to the last quarters of this year. The other part being that this is US election year and when the campaigns thickens, the news around the election is expected to inject a lot of volatility in the market which can see price rise astronomically depending on how the poll data between the candidates comes out.

Only newbie investors or to those people who had just recently dive in into crypto space are the ones who would really be making up some cutting of their loses on which there's no sense on why you would really be tending to sell while them market is on deep reds? I dont know on where they do get those idea on why people would be selling on loss? Yes, its a deep loses but as long you arent that selling your position then it would really be just that consider to be paper loss and not something has been realized. If you are someone whose really that not get used to with this market condition then its likely that you would really be doing such action but into the moment that you do have that sufficient experience and awareness on how this market behaves then instead of selling out with these drops, you would really be rather be buying up even more.

These are indeed the best time for you to accumulate or making up some buybacks because on the time that the market would really be having its recovery or bounceback then
you would really be definitely be able to make profits once it do happens. It all matters about on someone experience and awareness on how this market works because for those who are just new
then they would really be able to see these drops are disadvantage or shit thing but actually it is really just that the best opportunity to have more.

No one can take perfect entries in the market and don't ever think that you understand bitcoin and it will keep going up from your point of purchase. If you are long term holder such dips should not be matter to you and if it matters then this means that you have invested what you can't afford to lose.

If you felt that after your buying bitcoins the bitcoin dumps, it become more cheap then you could have DCA and accumulated more bitcoins if you have extra money. If not, just keep holding and do not panic sell in loss.

Its not that tempting to sell after the fall, anywhere near 70k I could understand selling expecting the worst or just a repeat of prior selling in that area.

The volume today as price makes its way from 49k back to 60k area appears to be far lower then the volume of selling yesterday when BTC first reached that low and did a bounce a bit.   My general conclusion it will take most of August and beyond for the market to decide and explore this area before determining a direction.

No need to jump the gun just yet and its already too late to be especially smart in selling.   Beyond this month and upset apparent right now, the horizon remains clear for gain.  Its never a clear road but we arent going straight down in any simple way imo.