Topic: don't be greedy to sell now (Read 415 times)

The newcomers to bitcoin and bitcointalk could benefit greatly from this. Hold your bitcoin first than trying to trade immediately after being tempted by stories about traders who make a lot of money trading. Before actually trading, use demo accounts to practice and evaluate your skills. The perseverance to properly learn how to trade is what most people lack. Everyone wants to make money in trading, but only a few want to learn it for months. And so they are trading like gambling in a casino. In a situation like that, you should keep your bitcoins for a long time and buy more when you have another extra money.

Well futures traders (day traders) keep doing that to maximize their earning. They will analyze the market first with many confluences before they enter a trade and when the market price is up with big candles and see a group of small candles after that, that means there's much supply than demand. That's why they expect the price to retrace after a big pump before they entering the market again. Fortunately, there are many successful traders who keeps doing that because it working for them.

However, there are also disadvantages of holding an asset for a long time, where you're already gain but it end up just holding the asset for a very long time because it goes back to your buying price or below.

For me these pumps are normal for making some small term profits only if you have invested at low rates like you have took the advantage of dip to accumulate some sats say at $15k-$16k range otherwise many who have invested at high rates are seeing it some hope for market to regain the momentum.

I am also long term holder so at this time my main goal is to keep my funds safe and accumulate whenever I get some chance and extra savings to invest in it so for me I am looking for high returns and knows the potential and true power of bitcoin so this is not selling time but still people overthink and do the opposite.

Currently joining the market to get future assets must be done, everyone who wants to join the market must of course study the market well, there is a risk when they do not understand market movements, now little by little the market is getting better and opportunities for them who will enter the market, even though there are some who are selling it but this is not the right time, more precisely using this time to add assets.

Actually selling your Bitcoin should be detriment of investors, but any short term investors can speed up and sell so that it will enable them to go back to the market. But the only factor we have to put into consideration is that Bitcoin market is involved both positive side and negative side, you can speed up and sell your bitcoin now and getting tomorrow Bitcoin accelerate. So selling your Bitcoin doesn't need to be panic or being into tension, at least you have scrutinized the market first before selling off your Bitcoin, because their is every tendency that the market can increase any moment.

How am I supposed to term that as greed?
Selling 'em coins now?? How's that greed?? I rather see that action as being probed by FEAR and lack of PATIENCE for an unfinished work to get totally done.
Bitcoin went very low and alot of peeps were already sick and tired of the whole emotional stress and some even hurried to sell them before it got really low, Isn't that what happened?? Now, you go take a look at the price, is it worth getting your losses back ?? Atleast a bit of 'em? This whole thing remains a sequel and it's nutured by how sellable or buyable crypto becomes at some point. If some held on when it was 21k, what would make them hurry then?

Sandra 🧑‍🦰

The initial plan could have changed in the middle of the road, prices that keep changing all the time make the investment heart often exercise when looking at chart movements. When the current starts to change direction, panic cannot be avoided, rather than losing some profits (even in small amounts) due to price corrections, they prefer to save what they should normally get. Investment strategies can change depending on market conditions, the most important thing is that the main goal can be achieved even if you have to sell and buy repeatedly.

This simple investment principle is mostly done for beginners. investing for the short and medium term. they can benefit from pumps and dumps occurring over a short time.
but for those who have been investing in the crypto market for a long time of course make better planning. like some of the investment considerations that you give.
but what we need to understand, not all those who invest will hold Bitcoin or their other assets for the long term. everyone has their plan.

Talking about greedy depend on individual when start trading in cryptocurrency, some people have target with trading as long term and want to earn more than 30% profit and already become long term investment because they have enough back up money. There are have some person with short term trading and try selling when reach little profit and seems not greedy because they less with recovery money.

There are not problem with greedy due investing in potential altcoin and believing with reach higher price more than 40% during still have enough back up money for other thing, difference with us have little fund for trading and should effective earn profit although few percent because try to manage with short term trading.

I always feel at ease when I just leave my crypto assets the way it is, imagine taking profits and you need to wait for months before seeing that opportunity again? Since I bought at low price and I plan on holding for long term there is no need to take profit, I will prefer to keep using DCA from time to time, opportunities will not keep repeating themselves over and over again.

Tomorrow we have the FOMC meeting coming and many are praying to 50 Bp just because they want to see the market crash and buy buy who knows? If we see 25bp then the market will remain bullish and the opportunity is no more, imagine, I don't want to play this game, it's too stressful.

the point is don't be greedy in investing in bitcoin, don't be too hasty either.
it can be dangerous and certainly will be very detrimental.
don't just because you want to buy bitcoin from the bottom price, continue to sell existing assets, even though it's not certain that bitcoin will decline.

sometimes investing, don't use your ego too much, but you have to use patience and gratitude.

In short, trying to time the market by selling and buying again after a dip can be a risky strategy with several potential drawbacks. There's no guarantee that a dip will happen, and even if it does, timing the market correctly is challenging and requires significant skill. It's better to adopt a simple and long-term strategy such as buying and holding with patience.

Yeah, I'm very optimistic price will be dragged down for correction. It may not get to my pending order but certainly I believe it will go way below the price I sold. It's only going to take my time and test my patience (crypto is a game of patience) but I'm prepared for the wait this week.

The first thing I do once I discover anyone with this mindset to whose channel I had subscribed is to exit immediately. Nobody knows it all in this industry and anyone who flaunts that they're all too knowing isn't worthy to be followed. Trading and investment are purely speculative. There isn't a certitude to whatever that happens. We follow TAs and FAs to navigate it, yet we know that every analysis shouldn't be taken as a guarantee.

The temptation that comes from increasing prices cannot be resisted to press the sell button, maybe this is one of the strategies they apply in Bitcoin trading. They are more inclined to increase the number of Bitcoins in a small way without having to take risks, the strategy of buying at low prices and then selling when they have made a profit is still attached to them.

Everyone has their own strategy in looking for additional Bitcoins, in this case it cannot be said that we are greedy with taking profits before the price reaches the top. Being patient and waiting in the long run for the price to peak sounds easier to do, but in Bitcoin trading there are several strategies that can be used to achieve this goal.
Greed is more precisely pinned on those who still hold Bitcoin when the price is at its peak, they don't sell it immediately because they still expect the price to be even higher.

Greed to sell in this marginally bullish market is never a good idea, but no one can study and understand a volatile market that can choose a certain trend for no reason; the best we can hope for is to predict the market's next potential trend and hope it happens. This is what gives the impression to some people that the market bear is not over because they continue to hold on to the 4-year cycle that appears to have changed.

Well everyone caught on this web too, I have fallen into this many times before and my success rate in buying back is too low. Good luck to you for your two alts on buying back.
You don't want your followers to believe that you are running on luck not on your skill. So that is why internet gurus won't agree with their mistakes.

I've been caught in that web too. I believe while people do that is to increase the quantity they're hodling. Sadly, in some cases it backfires and they won't be lucky to buy back at the sold price. Such is life. As I type this, I've two alts I took this same risk on last week. I'm still waiting to rebuy, hopefully price declines below the price I sold.

The annoying part is that the so-called experts hardly accept that they're wrong with the calls they make once it goes awry. They quickly find another technical jargon to justify why it didn't go the way they predicted in the first place. Gullible traders and investors will quickly accept the excuse.

the majority of people who are learning to invest or trade in bitcoin for the first time must experience this, they sell when the price is high in the hope of being able to buy again when the price goes down but in fact, the opposite is true, it never happens, in the end, they buy at a higher price than the price when they sell that. I experienced something like this when I was just learning and now if I experience something like the scenario above (when selling but the price is getting higher), what I do is refrain from buying first and hope the price goes down, even if it takes a long time.


but there are many factors that influence a newbie trader or investor to do this, including an urgent need - low emotional control - not following the trend - afraid the price will go down, so don't use feelings in trading, use logic and if the market trend is bullish So hold on and enjoy the price increase.

Following the market trend is a safer strategy because it coincides with the bulk of market participants and can result in lesser risk. Going against the market can be difficult and necessitates a high level of experience and knowledge of market tendencies. It also relies more on luck, as consistently outperforming the market is tough.

Selling assets when there is a compelling need, on the other hand, is a widespread activity that is not always risky. At different periods of the year, the market presents different chances, and there may be compelling reasons to sell, even if it means going against the prevailing trend. It is critical to make informed judgments based on personal circumstances and to assess potential risks and advantages.

I won't say they are greedy, if look from a long-term investment perspective, selling now and waiting to buy back is very risky, and not worth the risk. But every investor has a different investment strategy, you can't say they are greedy while they have different plans than you.

I see many people do that, sell when the price is high and wait for the price to come down to buy back, I am not as risky as them, but there are many people who have success with that method. It depends on the strategy, mindset, and vision of each person. Don't think that if you can't do it, others can't do it either.

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.