The time to sell or exchange your bitcoin for a stablecoin passed a week ago when bitcoin was still in the $50k regions. Doing it now at below $40k doesn't make much sense especially if you are taking a big loss. I know people who held on to their coins after buying them at the top of the 2017 bull run. They did nothing when it came falling down to $3-4k. On the contrary, they kept accumulating and waiting for better days. Don't sell now unless you absolutely need that money.
Brother, I agree with you because the current bitcoin situation is not very good. The current bitcoin is being dumping a lot of the dumping. So now those who do not need more money will be better if they do not sell now. 
Topic: BTC/USDT and positioning to lessen the loss and gain a profit from dip (Read 63 times)
May 20, 2021, 12:32:49 AM
I'm sure by now you have already converted BTC to USDT an hour ago,
Why would I want to give up the bitcoin stash I have been accumulating just because there is small drop?!And why do you make that assumption that everyone is a day trader who is going to sell on first sight of a drop?!!
I guess he's talking from trader's prospective. BTW if 50% is a small drop to you then I can't even guess what would you call a big one
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to a stable coin like USDT, or BUSD maybe,
Another terrible advice because centralized altcoins must never be used as safe haven ever specially if they are shady and these so called stable coins are that.At least if you want to get out, sell for fiat and keep that instead.
Again, from trader's prospective it makes a sense, sell for USDT and re-buy the dip later.
May 19, 2021, 10:20:33 PM
I'm sure by now you have already converted BTC to USDT an hour ago,
Why would I want to give up the bitcoin stash I have been accumulating just because there is small drop?!And why do you make that assumption that everyone is a day trader who is going to sell on first sight of a drop?!!
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for newbies lessen the loss since you are just getting started, convert your BTC
Being newbie has nothing to do with what you are suggesting and it is a terrible suggestion. For starters we already had the big drop and it is considered "late to sell" even if price by some chance goes any lower it is NEVER a good idea to sell after a big drop. You should either sell before it or at the very beginning of the drop not after it got big.Quote
to a stable coin like USDT, or BUSD maybe,
Another terrible advice because centralized altcoins must never be used as safe haven ever specially if they are shady and these so called stable coins are that.At least if you want to get out, sell for fiat and keep that instead.
May 19, 2021, 02:27:13 PM
Good for those who have converted before this dip happened. But if it's too late to convert, just hold your bitcoin and don't do anything with it. You're more prone to losses at this time because you might eventually sell it if you're very new to the market swings.
I've seen already people who have sold at losses because it's probably their first time to experience such nose dive and they didn't able to control their emotion when they see the price goes down.
I've seen already people who have sold at losses because it's probably their first time to experience such nose dive and they didn't able to control their emotion when they see the price goes down.
May 19, 2021, 01:06:28 PM
The time to sell or exchange your bitcoin for a stablecoin passed a week ago when bitcoin was still in the $50k regions. Doing it now at below $40k doesn't make much sense especially if you are taking a big loss. I know people who held on to their coins after buying them at the top of the 2017 bull run. They did nothing when it came falling down to $3-4k. On the contrary, they kept accumulating and waiting for better days. Don't sell now unless you absolutely need that money.
May 19, 2021, 11:02:58 AM
Why are you selling at the bottom?
From a ta standpoint, we're bullish until 29k at least - https://bitcointalksearch.org/topic/m.57030279
(not financial advice)
From a ta standpoint, we're bullish until 29k at least - https://bitcointalksearch.org/topic/m.57030279
(not financial advice)
May 19, 2021, 10:34:57 AM
I'm sure by now you have already converted BTC to USDT an hour ago, for newbies lessen the loss since you are just getting started, convert your BTC to a stable coin like USDT, or BUSD maybe, most newbies don't know what to do when we experience red days, in crypto, they sometimes tend to convert it to their currency, which with high fee's they have bigger losses unlike converting it to USDT, why I'm telling this not only you get a chance to keep your capital but also, and also if you want to buy back for BTC it's faster, no more transferring of money from USD to BTC, before every time I convert it to our currency and buyback, with our money its almost 10% are being taken that's big if you want to gain small amount try to swing your usdt when it goes down then if it goes up like a little sell it, just make sure you covers up the fees.
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