Did you sell off during the 21k price breach. - page 3.

Tamaperdana

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Quote from: DaNNy001 on January 16, 2023, 08:01:32 AM

Not many people expected the sudden rise in the price of bitcoin in the early part of 2023 as speculation i have online and also in the forum have started the bull is not going to be coming anytime soon. But the price of bitcoin surprisingly reached 21k on Saturday and many short time holders saw this as a wonderful opportunity to sell off some of their coins and wait for the price to go low again before buying.

So are we to expect any sudden drop down to 16k again on the price of bitcoin this year or we will going through with this current 20k to 21k mark.?

I don't expect that, I'm just waiting for the bitcoin halving next year, because I'm targeting it in the long term, maybe for short-term investors it will be profitable if it goes down again.
but for long-term investors, this may still be considered normal, there must even be someone who adds to their bitcoin assets.

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Quote from: Zaguru12 on January 16, 2023, 01:43:31 PM

Quote from: seoincorporation on January 16, 2023, 10:03:26 AM

Is hard to predict the next move, but with the current market cap of $977.09B I don't think this is going back to $16k in the next few days. I know it was a nice surprise to see btc touching $21k, and some of us feel bad for selling in the past days at $17k... but that's how the markets rolls, Bitcoin loves to give us these crazy moves. Let's see what this week has for us.

I also think it will go back to the $16K margin the best thing for any one trying to accumulate will be to do DCA at least every week because I believe each we will have new price either a huge dump or high rise. With DCA the loss might be minimized or the profit been maximized. Right now I am not selling off till we touch maybe $50k something I see to happen by ending of the year. This little market pump is the best time to sell of all altcoins

You are right, but the DCA method is not fully optimal because if you imagine selling at $ 18k yesterday then for sure you are not getting the maximum profit and the price of $ 21 is quite stable at this time and it is not certain whether the price will be higher, at the current conditions you make sure not will buy it because you already take profit at a lower price.

DaNNy001

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Quote from: _BlackStar on January 21, 2023, 12:30:24 PM

Quote from: mich on January 21, 2023, 09:27:14 AM

Well I did begin to sell at 21k just a little bit. I think most people panic sell when others are talking about it. FUD start to kick in and we think we are being cautious by getting out. Personally, I don’t often follow the crowd and I tend to hold long but that’s because I try and put my money behind investments I truly believe in.

This includes bitcoin for example. I think if you really like an investment, you don’t get swept up by the fear because you trust your gut and you know you have a winner if you can just wait it out.

I'm not going to sell it for fear of missing the opportunity to sell it for a high price, but I have to sell it when I really need the money urgently after some other considerations. I don't think $21K is a high price to sell some or all of your bitcoins but if you really need it then you can sell it anytime as long as you understand and consider it well.

Holders are winners, but we don't have to be holders forever for any reason. We need money and we also need to enjoy life, so taking profits at the right time is the reason why you invest, but it's not the only one.

I totally agree with you on this, but with what I have seen is like everyone just says that are going to hodl tiil the next bull run. But i feel this must not be the same with everyone, as i sold some of mine today owing to the fact that, i was in dire need of cash and i sold a little to settle this issues. The price today was really something to smile about as btc is slowly climbing upwards and now up 23k today but many still see this current uptrend as a trap and feel that bitcoin is going to fall back to 16k as the propose year for the speculated rise has not reach @2024 halving

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Quote from: mich on January 21, 2023, 09:27:14 AM

Well I did begin to sell at 21k just a little bit. I think most people panic sell when others are talking about it. FUD start to kick in and we think we are being cautious by getting out. Personally, I don’t often follow the crowd and I tend to hold long but that’s because I try and put my money behind investments I truly believe in.

This includes bitcoin for example. I think if you really like an investment, you don’t get swept up by the fear because you trust your gut and you know you have a winner if you can just wait it out.

I'm not going to sell it for fear of missing the opportunity to sell it for a high price, but I have to sell it when I really need the money urgently after some other considerations. I don't think $21K is a high price to sell some or all of your bitcoins but if you really need it then you can sell it anytime as long as you understand and consider it well.

Holders are winners, but we don't have to be holders forever for any reason. We need money and we also need to enjoy life, so taking profits at the right time is the reason why you invest, but it's not the only one.

$crypto$

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Quote from: KingsDen on January 21, 2023, 10:28:07 AM

To me I did not sell and even if the price is at 50,000 dollars today I will not also sell. I can only sell when there is a new all-time high.

keep it up!! I'm sure above $50,000 in the next few months eg I don't want to sell either but we would like to see price to surpass the previous ATH so it will be an all-time point again we will definitely look at that and definitely stick with it from now on.
It seems that bitcoin continues to move up making me a little happy to see the market grow again but I still want to keep buying at the current price.

KingsDen

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Quote from: JimboToronto on January 20, 2023, 06:54:57 PM

The only reason to ever sell is if you absolutely need the money for another purpose.

Never base the decision to sell on the price.

It all boils down to individual decisions and purpose of investment. According to what the topic creator said people, people who invested for a short term purpose must have sold off at 21k. For people whose investment are targeted at long-term does not have any business selling at 21,000 dollars and also people that bought at the price of 40,000 above does also not have any business to sell at 21,000 dollars.

To me I did not sell and even if the price is at 50,000 dollars today I will not also sell. I can only sell when there is a new all-time high.

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Quote from: Beparanf on January 20, 2023, 09:09:07 AM

Quote from: ilovealtcoins on January 20, 2023, 07:08:29 AM

Quote from: DaNNy001 on January 16, 2023, 08:01:32 AM

So are we to expect any sudden drop down to 16k again on the price of bitcoin this year or we will going through with this current 20k to 21k mark.?

There is still a chance bitcoin will drop to $16k again, what is happening is more of a trap than a real bull run. But I will not sell my bitcoins at this price or higher because there is no guarantee bitcoin will fall back. The profit is also too small if anyone sells from now on, I think most people will wait until bitcoin hits ATH to start selling them.

I don't see anything wrong with selling Bitcoin above 21K due to the abnormal price pump of Bitcoin for a short time. Holding until ATH is a good strategy too but taking a profit on a sudden pump like this is good too because there's always a correction for every price action like this since impulse traders will surely take a profit when after they bought below 20K once the price stops moving above. The current price is already stagnant at 21K level which is a sign that bulls power is weakening. It's either we will experience accumulation and then pump or a quick correction will happen but I'm more on the correction scenario since there's no real big news backing this run.

Yes, there is nothing wrong if you sell for 21k, but today price went up to 22.8k and even reached 23k if you sold bitcoin yesterday, you made a profit, but now you will regret it. There is no guarantee bitcoin will turn back down, I have not seen any signs of the bulls weakening, as you say. If someone sold bitcoin yesterday, it would be a real pity.

mich

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Well I did begin to sell at 21k just a little bit. I think most people panic sell when others are talking about it. FUD start to kick in and we think we are being cautious by getting out. Personally, I don’t often follow the crowd and I tend to hold long but that’s because I try and put my money behind investments I truly believe in.

This includes bitcoin for example. I think if you really like an investment, you don’t get swept up by the fear because you trust your gut and you know you have a winner if you can just wait it out.

JimboToronto

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Quote from: STT on January 20, 2023, 07:03:13 PM

The price is not the value...

Indeed.

Warren Buffett didn't make his billions buying and selling stocks willy-nilly based on the price.

He based his decisions on what he saw as the potential value of the companies he invested in and then worked to increase their current value by restructuring, improving efficiency, and increasing their productivity. He didn't buy to sell. He bought and held long-term. He didn't "play" the stock market like some kind casino game. He bought the casino and improved it.

Obviously Bitcoin is not the stock market. There are some parallels though. The reason to invest in Bitcoin is not to hope the price will go up. The reason is seeing the long-term potential of a revolutionary new technology to change the world of finance. Buying and steadfastly holding increases stability, which in turn leads to increased adoption and in turn demand, which eventually brings great returns, just like Buffett's little shirt company.

Constantly buying and selling debases Bitcoin and reduces it to the level of a penny stock.

STT

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The price is not the value, so yea I agree with that. Ideally everyone on this forum is better informed and values BTC higher then the market itself does. Theres times a product will be discounted and subject to a lower pricing and other times it could be considered expensive. My personal reckoning for BTC over the last year was yes the price fell but relative to 20 years highs in Dollar index, BTC is doing better then I expected under that burden and unpopularity.
I'm not saying it was a sunny day but we can have out performance even within a decline and negative trend. I think even down to 10k was a possible but BTC was heavily resistant to that. The relevance to now would be that strength under pressure should be noted and respected because that force contained can return us upwards faster then expected. We had a bullish break upwards today following previous very strong action so patience is being rewarded currently. How to judge when to be patient and hold and when to sell fast is probably the most important thing for speculative type swing trades I think.

JimboToronto

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You're never too old to think young.

The only reason to ever sell is if you absolutely need the money for another purpose.

Never base the decision to sell on the price.

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Quote from: Zaguru12 on January 16, 2023, 01:43:31 PM

Quote from: seoincorporation on January 16, 2023, 10:03:26 AM

Is hard to predict the next move, but with the current market cap of $977.09B I don't think this is going back to $16k in the next few days. I know it was a nice surprise to see btc touching $21k, and some of us feel bad for selling in the past days at $17k... but that's how the markets rolls, Bitcoin loves to give us these crazy moves. Let's see what this week has for us.

I also think it will go back to the $16K margin the best thing for any one trying to accumulate will be to do DCA at least every week because I believe each we will have new price either a huge dump or high rise. With DCA the loss might be minimized or the profit been maximized. Right now I am not selling off till we touch maybe $50k something I see to happen by ending of the year. This little market pump is the best time to sell of all altcoins

As seoincorporation said it is very hard to predict the next move of the market, but according to some experts, bitcoin price will reach 22$k this year then it will go down to the previous normal stand of $15k till next year which will boost the price to ATH in 2024. But that is human calculation and Prediction but the method might change dimension. Zaguru12 that is what many predictors are also saying that the price will go back $16 or below. Last year December I sold off all my BTCs in the trust wallet. And in this year I will open a non custodian wallet to start afresh. In the world of bitcoin it will s good to be proactive. Be calculative and risk minded so that the market will not take you by surprise.

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Quote from: DaNNy001 on January 16, 2023, 08:01:32 AM

So are we to expect any sudden drop down to 16k again on the price of bitcoin this year or we will going through with this current 20k to 21k mark.?

Some investors have sold their bitcoins once the price spiked to 21,000$, as they believe there is going to be a deep correction to previous price ranges this year yet. However, by watching the charts it's possible to see not too many investors are thinking like this, since we are still in the same 21,000$ level, otherwise we would have already seen a massive drop to 18,000$ at least. That means most investors are not giving up their holdings for short term gains, so I would say it's safer to do exactly like them, just hold.

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Quote from: Davian144 on January 20, 2023, 05:32:20 AM

Everyone has their own view of seeing the market momentum at the moment so the decision to sell coins like you did is also not the wrong decision to make because it certainly has very special reasons when you sell half of it. Likewise with other people who still maintain it and do not sell at all in conditions like now. This means that both are not wrong to do as long as it can still make someone feel comfortable and not become a problem in their life.

Every investor has a strategy in every investment because some investors judge the current momentum to recover losses so sell some at the recovery price and buy it again after the market correction, they may be big investors so selling half of the assets can make a few thousand dollars profit, but it doesn't matter if they use some of the assets for short-term trading for the purpose of covering losses on some of the other assets if the price decreases due to the uncertainty of market prices.

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Quote from: Nrcewker on January 20, 2023, 10:17:32 AM

Quote from: DaNNy001 on January 16, 2023, 08:01:32 AM

So are we to expect any sudden drop down to 16k again on the price of bitcoin this year or we will going through with this current 20k to 21k mark.?

Like I said earlier many times, the price of the coin solely depends on us. If we demand to buy more coins, then the price will rise, if we demand to sell more then the price will fall. And this happens in whole and bulk amount. The reason for which this happens is due to the Supply and Demand method. Now regarding the price, I don’t think it will fall anywhere too soon. Bitcoins always followed a similar growth pattern, and this time it is a hint of starting the bull market. Let’s see what happens next, this next 2-3 weeks will be very crucial.

There is a "hint" of starting the bull market, but that hint is not enough. We need some more proof that it's going to be on the bull market, which is going to be difficult to handle but I think it could very well happen. We just need to make sure that it's going to end up being good overall.

I believe that we should be focusing on making some sort of profit in the long run by buying low, but we shouldn't have any type of indication where it's going, we could wait for a month, we could wait for a year, and it should be fine. I do believe that it the start of a bull run, but I won't tell anyone to wait for a big increase coming up soon, it's just not something I could predict.

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I noticed that the Bitcoin market suddenly spiked to $21,000 in early 2023. however, it is difficult to say whether the Bitcoin market will return to $16,000 in 2023. It may actually come, but most of the time, it looks like Bitcoin will grow slowly in 2023. Bitcoin will increase in value in 2024, so it seems wise to invest in Bitcoin. Current market looks like bitcoin price is between $21k to $20k and likely to increase gradually.

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Quote from: DaNNy001 on January 16, 2023, 08:01:32 AM

So are we to expect any sudden drop down to 16k again on the price of bitcoin this year or we will going through with this current 20k to 21k mark.?

Like I said earlier many times, the price of the coin solely depends on us. If we demand to buy more coins, then the price will rise, if we demand to sell more then the price will fall. And this happens in whole and bulk amount. The reason for which this happens is due to the Supply and Demand method. Now regarding the price, I don’t think it will fall anywhere too soon. Bitcoins always followed a similar growth pattern, and this time it is a hint of starting the bull market. Let’s see what happens next, this next 2-3 weeks will be very crucial.

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Quote from: fadhilz123 on January 20, 2023, 09:57:09 AM

Quote from: ilovealtcoins on January 20, 2023, 07:08:29 AM

There is still a chance bitcoin will drop to $16k again, what is happening is more of a trap than a real bull run. But I will not sell my bitcoins at this price or higher because there is no guarantee bitcoin will fall back. The profit is also too small if anyone sells from now on, I think most people will wait until bitcoin hits ATH to start selling them.

If you consider the increase that occurred this month as a trap, it means that you are still very doubtful about the increase in Bitcoin because I never thought the increase in Bitcoin was a trap. Bitcoin's potential to increase this year also has a greater possibility than a price drop to the level you mentioned.

Because some investors and traders have also started to pay attention to Bitcoin again in the market even though there are two possibilities that could still happen to Bitcoin this year, but the possibility to increase seems to be far greater than a price correction to a lower level.

We can't stop people from thinking about the possible trap because it also happens multiple times. This gives the idea to become more cautious and careful with all our actions when there is a pump of price. If they are selling their Bitcoin now it is probably because they wanted to take advantage of the price increase and make a profit as they never know when it comes again. But if you are still holding, we don't need to worry because Bullrun is also possible to come and it was even more profit to earn either.

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Quote from: ilovealtcoins on January 20, 2023, 07:08:29 AM

There is still a chance bitcoin will drop to $16k again, what is happening is more of a trap than a real bull run. But I will not sell my bitcoins at this price or higher because there is no guarantee bitcoin will fall back. The profit is also too small if anyone sells from now on, I think most people will wait until bitcoin hits ATH to start selling them.

If you consider the increase that occurred this month as a trap, it means that you are still very doubtful about the increase in Bitcoin because I never thought the increase in Bitcoin was a trap. Bitcoin's potential to increase this year also has a greater possibility than a price drop to the level you mentioned.

Because some investors and traders have also started to pay attention to Bitcoin again in the market even though there are two possibilities that could still happen to Bitcoin this year, but the possibility to increase seems to be far greater than a price correction to a lower level.

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Quote from: DaNNy001 on January 16, 2023, 08:01:32 AM

So are we to expect any sudden drop down to 16k again on the price of bitcoin this year or we will going through with this current 20k to 21k mark.?

Personally I prefer bitcoin to be held long term and haven't decided to sell my bitcoins for now, although in the future bitcoin will experience a correction back to 16k, for me this year bitcoin will experience a gradual increase, so deciding to sell now is not the time right, even though many people are trying to take short term profits in bitcoin. Everyone must have their own way of entering or selling the bitcoin they have.

But for me long-term use is much more profitable, as long as we can wait for the achievement of ATH and not panic when the correction process takes place, 2022 was a bloody year for bitcoin, but this year I am optimistic that bitcoin will gradually increase and a recovery point has occurred within a few weeks.

Topic: Did you sell off during the 21k price breach. - page 3. (Read 828 times)