I am getting tired of all these posts in this forum expressing apprehension over the current dip that Bitcoin got into. Rather than spread FUD, we should see the history of Bitcoin and by doing so we could realize that this is quite normal. There had been many price corrections in the past and there can be in the future.
Those new to Bitcoin have to just relax and hold on to their Bitcoin as soon our beloved coin can be back on surging. Remember that any dip in price can mean an opportunity for many to beef up their Bitcoin hoard...and that in turn will re-energize the whole market and before we know it Bitcoin is again slowly climbing up the hill.
Would you like to Bitcoin to go down as $100? Of course yes, so that we can all buy as many Bitcoin as we want. Though it is just a dream...it might not happen.
Exactly, the dip is going to come, sooner or later.
When we say that there is probably going to be an adjustment coming it's not because we want to spread FUD. It is because bitcoin is definitely in a bubble, and the end of growth will come no matter what. There is no way that this type of growth is going to be sustained for a long period of time.
Again, we've seen the rebound that comes directly after the dip. By buying in the dip, you are able to get yourself some cheap coins.
Just remember btc price is like a pendulum. It always over-corrects.
Completely agree with you. This had to happen, sooner or later. Bitcoin is going to go up in teh long term, but this sort of short term profit is simply not going to last for long. This is true with any investment asset, not just limited to bitcoin.
And yeah, if people just took their emotions out they would have made a heck of a profit on these trades. Could have bought in at around $3800 and flipped it at $4100+ for an easy profit of $300+ per coin that could be magnified by margin.
Anyways OP, i don't think that holding is always a good idea especially when times are uncertain like now. I'd say diversify, sell half of your coins and keep half in bitcoin so that if it rises you gain profit, if it loses value you don't lose everything.