Topic: Don't sell your precious BTC to the whales! - page 8. (Read 1547 times)

Believe me, I’m crossing all fingers and taken oath not to click on the sell button at any cost! I’m in the position where my crypto portfolio is more than 60% down considering multiple entry points while buying. I’m scared like hell but I’m still holding on to it and trying my best not to sell.

In fact it has become a barrier now. For example even in the situation of urgency I could not sell my bitcoins since it’s value is tiny and I will get nothing from it, but loss. Better to adjust the emergency funds from friends or banks and survive that’s my goal at the moment.

Been there, experienced it. This is the reason why I am not panicking at all.
It feels a different sense of relief when you know that bitcoin will definitely recover from the dump and create a new ATH.
I am not selling my precious coins lower than $60k. In fact, I will accumulate more at regular intervals to make my stack bigger.
This is the only strategy that will work wonders in the long run.

But don't you guys wonder who are selling at this point that causes the price to go down. Few days ago, I thought that $28k was a strong support but here we are now almost reaching $20k. Are these sellers just knew bitcoin when it started to surpass the $20k ATH and they didn't experience the huge crash way back 2018. Selling at this point will be a huge regret to many people once the whales accumulated enough and market starts to go up again.

The bitcoin price is down 10% so far today, seems like some whales are panicking and trying to get out at any price. I am really wondering who would be selling his bitcoins at 25,000 USD? There is no way that I would give my coins away so cheaply. In the past I made the mistake once to sell all my cryptos during a bear market, never again. The best thing we can do right now is to HODL. Longterm I still believe in a positive bitcoin trend and we will see a new ATH above 100,000. The only issue is if we rely on bitcoins for our monthly income, then we are forced to sell at the current lows. We should be buying now rather than selling. Eventually the world has to realise that inflation will reduce the value of fiat money drastically, crypto currencies are the only future.

Yes I know that right. I regretted about missing to buy BTC when it crashes down to $3k because of self-doubts and fear. And I am not going to make the same mistake again. I started doing dollar-cost averaging (DCA) last month with Bitcoin when the price was around $30k+. Despite that I am at a loss with my BTC holding, it doesn’t change my long-term goal as I will keep accumulating Bitcoin every month with my extra “not beer” money. So I won’t sell. 

Remember the time when you invested in Bitcoins.
Recall the thoughts and expectations you kept while purchasing the Bitcoins.
It’s not late yet, just hold the Bitcoins for a more longer period of time.
Once you have shown faith in Bitcoins, so give it once again.
Rather I would suggest each of one to buy Bitcoins at the current price. It’s like a Mega Sale in the Crypto Business.
Just Buy the Bitcoins now and wait for some months. Then you will be definitely proud on yourselves.

The news about the BTC price decreasing is alarming to some people who are new in this industry and they haven't experienced when the time the price was almost hit $2000 a few years ago. For the newcomers, this price today is the lowest and they are now saving as much as they can from their investment by panic selling everything which the benefits will always go to whale for another long time holding. Can't really blame the people who are selling their BTC right now maybe because that's the only money they have to survive but they are causing problems for others as well.

If we take an example from the events when bitcoin fell in price from $20.000 down to $3.000, which is almost ~7 times, then in the current situation, bitcoin can fall in price to $10.000. It is not necessary that we will see this and this is not at all a reason for panic. Almost any negative situation can be used for good, and if bitcoin will costs $10.000-15.00, then this will be a great opportunity to buy at a discount. Well, to sell during the fall of the crypto market, it will only fix the losses, make yourself poorer and make bitcoin whales richer. Do you really want this?
 

 

If there's one bad thing of the falling prices, that's probably the concentration of bitcoins in hands of those who already have a lot. That's only an assumption, and surely there are exceptions (when big institutional investors panic sell), but overall those who have a small amount are also more likely to be able to afford it less, and in bad times might require fiat or might need to have a certain amount of money and can't see the price getting below that. So I wouldn't blame people for selling at a low price point without knowing their circumstances.

It's true that we've been here. If you're new then for sure that no ones to blame if you're ever feeling to panic.

But for us, who have been here during the toughest bear market like in 2018, we know what to do and we just have to chill and if you have money to spend, buy bitcoin.

Being patient is one of the factors that will save you survive this bear and will also help you to be one of those people that will have a good moment when we're back in bull.

it's a simple mindset for the market and you give bitcoin as an example.
whales will continue to wait to net even manage to spend bitcoins as the storm continues. The past has made people new to btc devoured by Fuds and they sell assets in a slump and lack of fiat as you mentioned.

whales know the risk of cutloss and they take advantage of free funds to make buying momentum monitored.

not once bitcoin / crypto crash, since 10 years ago even more. it should be a momentum to increase ownership not the other way around

the price is going down because next gen asics are coming online with lower bottom-line costs for the most efficient miners. meaning some larger investors can afford to mine more rather than just buy. thus buy support declines and 'mine-to-sell' increased.

meaning THEY can sell cheaper. the thing is though, while the hashrate is on the level or going up. that efficiency cant last and cant go down..  that extra hashrate arriving right now =faster blocks=more blocks per difficulty target = increasing the difficulty, which then results in it getting harder for them to mine thus more expensive later.

this balancing act helps keeping the costs from slipping down when hashrate is going up. meaning those asics this week currently able to mine real cheap wont be mining at the same cheap rate in a few weeks and so their costs go up and the less coin they would willingly sell cheaply.

july is a new financial quarter, meaning new electric contracts, new OTC trade contracts which looking at the whole electricity/fuel market of the world will see power costs increase for new contracts. which means demand for a higher sell price even for the bottom-line efficient miners

long term view is we are approaching a bull market soon, how soon is the question(how fast the chain reaction just explained plays out), but all signs are in that direction
..
as for the smaller less efficient miners and home hobby miners.
with residential electric rates going up due to world politics and corporate stuff causing power companies to increase their rates. people that could just about mine wont be mining and find it far far cheaper to just buy coin. again more support for buy markets and less support for sell markets

let the losers that want to lose, lose. let them shed their coin and hand it to those that want to keep it. im not saying let the small guys hand it to big guys.
im saying let the afraid/cheap mining big guys sell their coin to lots of small guys.

the new holders of recently acquired coin will set their cost at this amount. meaning they wont want to sell for less than their acquisition cost anytime soon so they wont be trying to push the sell market, thus less sell pressure.
eventually the sell pressure will fizzle out and more buyers than sellers. meaning the price will start to rise

no one can precisely predict WHEN all these events will happen. but all signs are pointing in the direction that it will.

What makes BTC precious, except the fact that people were clicking the Ask and accepting the higher prices? If no one wants to accept the Ask, you're left with nothing. Nothing is not precious.

In times like this, we're going to see who force capitulates simply because they overly allocated to bitcoin/crypto; with not much fiat to buy (or with no income to use for DCA-ing).

"When the tide goes out, you see who is swimming naked." — W. Buffett

Buying the dip worked many times before, there is no reason for it not to work again. It probably will. We'll just have to wait for the FED to lower them interest rates again. Sooner or later they'll have to stop raising them and that's going to be the beginning of the next bull market.  The next bull market will bring a new ATH and possibly above $100k and then everybody will able to make up for their losses. You'll just have to be patient like the OP said.

Inflation and potential market crash on US are the main reason why there's a FUD in crypto. The current FUD that fuel this bear market has a basis, unlike those years that you mention when Bitcoin grow exponentially after the dump was pure manipulative FUD by the news outlet or China. There's a chance that we really go deeper when the economy of US worsens but I'm still hoping that Bitcoin will be the parking space for the money of US investors that want to dodge stock market crashes and hyperinflation. It's either we will see mega dump or pump but this is a high-risk high reward so consider cashing out some of your Bitcoin especially if you need it financially and hold only what you can afford to lose.

There's a perfect opportunity to hold.

Hodling is a thing of patience and understanding. With the current downtrend do you think holders that bought high would be able to withstand the trend. I understand that market isn't favourable and surely price will be up again only those who were patient with the wave would sail merrily. Buy as much as you can now!

With the price dropping so much, I am seeing a ton of people who are considering selling, and some that literally got out of the market as a whole just because of the drop. I am very sorry to see this, people really do not have any clue how the markets work. I mean crypto has been like this forever, it crashes very very hard, and then goes up very very hard as well. We were literally 7k at the start of 2020, reached nearly 30k by 2021 start, and 68k during 2021 as well, that is a huge huge increase, and nobody talks about how we could have the same thing nowadays, they all talk about how we should leave and "crypto is a scam", thats a sad thing, these people will not be profiting when it goes up.

You, me, and a few hundred or thousands more were here in the sense that we know how this game is played, but unfortunately for all those millions of investors who do not understand what Bitcoin is, moments like this turn into a nightmare or something much worse. If for most Bitcoin is just a way to profit in the short term, then the thing is very simple - buy before halving, wait at least 6-8 months and sell at the peak.

However, I do not believe that this dump is caused only by retail investors, but that we are paying the price again by not using Bitcoin in the way we should, but playing with some versions of crypto banks that sooner or later experience the fate of regular banks.

If you are interested in the cause ->link

Thank you for your encouragement mate  

But, I will call it impatient or amateur other words market feeders. But i will say do you really know their situations right away? Remember whenever the market is down tension seems to be higher than ever so most at times some bitcoin holders at point can not control it leading them to sell. conspicuously speaking I was ones in that stage and i kept regretting whenever i sell of and the market bounces back again.

Facts: Anyone who can control these few things can be able survive the market and hold for long time;
1. Fear
2. Tension
3. Greed
4. Indecisive
5. Non-Informative

All these listed things are what most of here battles with all time.