When it comes to Bitcoin, I’m never in a rush to sell, not even a fragment of my portfolio and it gets worst when Bitcoin dumps. I usually do cheated with the knowledge I have of it, knowing what I do know and yet go ahead to sell is alway an act of desperation and I often prepare myself not to allow things get to that level.
People might rush to sell now given that Bitcoin is quickly dumping but, don’t forget, the weekend is gone and the dump has been steep which means over sold, it could buy in any moment.
Topic: Are you tempted to sell? - page 16. (Read 3470 times)
Is this going to be this worse or are we going to expect more dop in the market because it doesn't show any sign of dragging itself from this very amount ($50k) that we have it at the moment, talk about Bitcoin price, last time I checked it was $50k and since then I haven't seen Bitcoin price get to $51k, I think it will take a long while before we start seeing a step up to a positive price, maybe this week isn't a week to hope on that. This alone can kill the patience many have and in no time you see some selling other than having that hope of things turning around again, is just a matter of time for us to see who's going to let go.
To be honest, the market is very confusing to me right now. It's as if I made the wrong choice a few days ago for buying and adding more to my bag with the expectation of seeing a turn around in the market, when I could have just waited a little longer and bought now that the market is even going a bit deeper, which we can't even predict how dip the market will go this month. Not in a hurry to sell, but it's profiting to know when some will take advantage of a situation.
Since the bull market started last quarters of last year, we have seen more increase and minor retracements(often gradual retracement) but the last seven days have been very challenging for the Bitcoin market. The same period should be the first time in a long time that we are seeing Bitcoin price drop by 24%, a figure I consider a retracement. In the last 24hrs, Bitcoin have dropped over 12% in price which is the highest drop in price experienced in24hrs since last quarters of last year. The picture below is the data gotten from Coinmarketcap.
To the average investors, this can be very troubling as many will be considering to sell to avoid further depletion of their asset. But is this the right thing to do? Do you plan to sell now to avoid further loss?
Many people in some of the groups I know are thinking about converting to USDT to convert back to BTC after the rainfall stops but I don't thing this is a wise decision. Personally I have resolved to continue buying this time. What do you think?
To the average investors, this can be very troubling as many will be considering to sell to avoid further depletion of their asset. But is this the right thing to do? Do you plan to sell now to avoid further loss?
Many people in some of the groups I know are thinking about converting to USDT to convert back to BTC after the rainfall stops but I don't thing this is a wise decision. Personally I have resolved to continue buying this time. What do you think?
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