Topic: don't be greedy to sell now - page 2. (Read 415 times)

It all depends on whether you are a long-term investor or you are a trader who uses any movement in the market in order to make a profit. But if you decide to increase the number of coins in your wallet, wanting to sell and buy at a lower price, you need to use a stop loss so as not to be without coins in the bull market.

Well! some other investors are getting huge profits already here because they have been buying a huge amount of bitcoins since it reaches a lower price last year and this might be their chance to get some of their capital because after all it was their money and they might need to assure they recover it and put some investment in some of their earnings from it. It's not really a problem when they want to cash out right now and return later whenever they want to because no one will gonna give them their money back when they lose the current opportunity.

Since last year I have instilled in myself the personal principle of selling as many bitcoins as I need but while DCA every week. This means I never reduce my bitcoin savings amount, have variable market moments on my sales, no longer will I think too much about market phenomena, technical predictions, fundamentals just to sell a few.

Well they already have their own way to take advantage of selling their bitcoins at a price of $23.7k we can't prevent it even though we know that bitcoin is an asset for the long term with bigger profits (this is not as a promise but we believe it will increase in the future), but their paths are always different, sometimes taking advantage of the increase for their needs and only securing the initial capital to buy even lower, knowing that it is not an easy way.

I agree with some of the points mentioned, we know this method is not easy, but what's easier is to buy and then hold for the long term so we don't think about anything related to remembering when to enter the market.

For me now it's still quite low even though many say the price is already high, we have never thought about that but I will continue to buy it as a lump sum or DCA.

Its not that we are being greedy but everyone has their own timeline and has preference to sell their holding at their desire price. Mostly users make a mistake by holding their asset too much that they are forgetting to monetize their gains and leaving selling again at a lower than their entry instead cutting loss. Fear really does affect the outcome of our decision and tends to lose in a situation we shouldnt do it.

Some people like misleading others to get their coins for lower price, they will tell you to take profit and wait for some retracement, and after you will see that such correction may not happen again, there are few altcoins I bought in June 2022 for long-term hold they never see my buying price again, even when BTC dropped to 15,000$ this altcoins don't dip below, imagine if all I did was wait and wait for possible retracement?

We are still in a bear market and it won't make a big difference if you are buying Bitcoin or other by DCA every week or every month, the long term holders always win, I don't do trade as it's another sure way of losing your coins easily, I prefer long term hold.

I understand that people are constantly trying to trade to increase the amount of their Bitcoin. But as a result, only very few people actually make successful trades and get more Bitcoin.
Making short-term trades has always been difficult. In the long run it's easier to look at the patterns and understand the direction of the market. Daily traders almost always look at the 15-minute chart. They should remember to at least occasionally look at the 1-day chart and follow the general trend. Otherwise they are very likely to be wrong. You may return your winnings on 10 successful short-term trades with only one wrong trade. It's important to know the risks and strike the balance.

Though I tend to agree with your statement, however, each of us has preferences on how to take profit in Bitcoin, some prefer short-term holding while others can able to wait for long-term holding.  IMO, as long as your profit was there and you take it out, isn't a greedy one as long as you needed it, not unless you won't.  

Bitcoin wasn't promised this to us to make a profit, it's supposed to use as a transaction, an electronic payment system that can be more useful to anyone soon, not holding the value.

The reason is none is certain of when the high price or low price will happen,  so many weak hands are quick to act at every possible market behaviour.

Just as you have said, why sell an asset where you can simply hold and earn more profits in the long run?

The answer to that is, many investors are just after their stomachs and not many can withstand the temptation of making a few extra bucks on the investment since they invested all their cash liquidity on bitcoin, so bitcoin becomes their only way to quench their hunger.

You made some valid points and recommendations here. Whatever the case may be, the market pattern cannot be predicted completely but can be speculated based on assumptions of previous events or market movements. We can't tell people when to buy, hold, or sell; it all depends on their understanding of the market and how they react to specific market conditions. The best advice is to conduct your own research and stick to a pattern that benefit and suite you the best.

Apparently, we haven't escaped the bear market just yet as much as i would have liked. Its slowly but sure going to hit back but I can say, we've already established the dip for this bearish season.
For those who are taking the decision to sell with the little pump we've seen so far, I won't say it's actually a bad idea but, you might be selling too early and get tensed up when it pumps some more. Perhaps it's best to just hodl some more or even, just hodl just enough till the bullrun comes. You can't always take advantage of the market without losing something. Your bound to loose something based on your decision to sell now.

Most of all, use bitcoin as both an asset and a currency. Hodl what you need not use and sell what you need use. You would be doing yourself some real favour that way.

People do this out of greed and miss out on the chance to make more by holding bitcoin. I used to make these mistakes in my early days of investing in bitcoin. No one can tell when the price will go down or up. If you already bought the last deep it is more than enough to hold it for a long time.

You asked a question in regards to why people will sell now in anticipation of buying at a lower price. Well from you quoted statement you can see the mistakes they're making and that's why they make this kind of decisions. They're still believing these self acclaimed Bitcoin experts that called for $100k in 2021 when the signs were all pointing to a decline in the price. They forget that nobody can actually predict the exact moment of the market. Anybody that still take advise from this clowns deserve anything that comes their way.

I can't tell you to sell your bags now or buy more especially when your goals are short terms but you should evaluate the market yourself and take decision that you can hold yourself accountable for how it affects your financial life. Also don't just result to holding because everyone is telling you to hold if not when the bumpy ride comes you won't be able to resist the selling pressure. Bitcoin could dip to $10k or below in the coming weeks or it won't but one thing is certain, you're always better off holding than selling especially during the bear market periods.

It's best to always follow the market trend. There's less risk in that to going against the market as it takes a lot specialty to beat the market in its own pattern except for few cases of luck.
But for anyone who wishes to sell perhaps for a pressing need, I don't see anything unwise in that, as there are always opportunities in the market at different points.

Many people are thinking  to take advantage of Bitcoin's price now by selling and buying when it dip again before the bull run start since many are saying bear market is yet over and Bitcoin will drop again.try to study well on own before you take any action.

After all this, why don't you keep doing this, selling at the top and buying again after a correction, to make more and more money?

There are several problems with this approach.

Why would you sell an investment you think would be successful in the long run in order to prepare for a decrease you think will last only a short while? As a result, you bear the additional danger of being wrong because a decline might not happen (when there are already so many).

Selling and trying to time the market gives you two chances to be wrong: either the downturn won't happen or it will, and if you have to decide when to invest again, it is not that easy.

There might be a third error you could commit. following the sale of your assets. What are you going to do with the money up until the dip happens and you decide it's time to enter the market once more?

Successful sellers may find it challenging to judge when it is time to enter the market again, which may cause them to hold off until prices are lower and never take a position again.

Finally, how do you handle this case where you are wrong and there is no dip? Will you be able to accept the psychological by overcoming your regret and taking a higher position?

Therefore, selling in an effort to time the market is typically not a wise idea. Possibilities to do so are uncommon, and only a small number of people possess the ability to take advantage of those opportunities.

It is not in your best interest to get into a game where you are up against traders who are more skilled than you are.

Applying the most effective approach which is also the simplest is in your best interest. Buy, hold, repeat frequently, and be patient.