Seems like everyone is holding out to sell at 100K. Even when I purchased my bitcoins at the 2022 lows, I have always said that 100K would be where I would sell at least half of them.
Does it make sense to hold or to sell at this point, when everyone wants to sell at 100k? Maybe sell before we hit 100k?
Maybe just hold?
For me, as a trader, this is a very interesting question for discussion. The psychological factor is a very important factor in trading. You correctly mentioned that people aim for 100K Bitcoin price and how is that gonna happen if everyone wants to sell at 100K.
In moments like this, I aim to sell my coins at 98K USD because there is a good chance the price will not reach and surpass 100K numbers because this is the line where people want to sell their coins, so there is a big chance we will reach 98K or something similar and then people will start selling. I expect this to happen, then the price will fall cool down a little, there will be a little correction, maybe 80-90K range and soon the price will start rising again and surpass 100K. At that moment, people won't start selling but wait for another range, more likely for 150K.
You were correct with your prediction, did you actually sell at 98K?
I'm still holding, but thinking of selling a small amount because I think a pullback is also going to happen for sure. I also have had the 150K in mind for a while.
The pullback already happened!
I'm not sure "everyone" wants to sell at $100k though and actually not everyone sold at $99,500.
Things have changed in the last few weeks and months, perticularly TRUMP and how he is planning
to add Bitcoin to the US reserve.
There was a time a few years ago when $100k was kind of a fantasy it was in the very far distnce
and so a lot of people had that target as their sell point but now that we have more or less reached
that point I'll bet those who wanted to sell at $100k are already looking far beyond.
My thinking is if you dont need to sell and you are not an experienced trader, just HODL
Yes, it did go as low as $92k as far as i remember on which its not something that shocking yet -10% kind of down or correction isnt
something that new anymore here on crypto space. The price did make out some recovery as of this moment on which the price is really that moving sideways now.
The hard thing about into this kind of situation or condition is that on the moment that making some consolidation period on which you dont even know on when it would really
be trying to move. $100k is indeed the new resistance as of this moment and its really that tons of people or traders will really be selling out on the time it will hit up.
There would be some sort of breakout? This is something that cant be known because there would be factors that will really be needing for us to have that new all time high.
Now that we have reached $100k then people are eyeing on hitting $120k-$180k on which this is really that achievable. The question is on when it would happen?
Yes, its always been unpredictable in the first place and thats why it is really that too hard to predict and thats why positioning yourself at the bottom is really that
something that will really be that skeptical on making up such decisions.