Topic: I already sold all my coins... waiting to get back at $200 (Read 4461 times)

Much knowledge in this , indeed was it


Impossible was not what about to happen is

The graphs don't lie.  This market is still in a downward trend.  A strong one at that.  Until there is a huge spike to the upside (no, bouncing up to 250 or even 270 does not constitute a strong reversal of market trend)...then this is still in free fall.

Op, probably has more chances of getting back at a cheaper price. 1. Fear is what gets the prices cheap, so as long there is plenty of it, you`ll be able to buy back in anytime.

I only say this based on a peoples charts indicating ahead of double digits, and thats based on a few points on some people selling a huge amount of coins out there already.

It's always refreshing to see dozens of bulltards get proven wrong by one or two bears.

People are starting to lose their mind because of the down trend, trying to find that perfect price to buy in back, and as always at the end of the day those profiting will be the whales.

Do you think there's a chance Bitcoin could fail (as a speculative long term investment)? Do you think it could trend downwards from here, never to get back above ... say ... $400?

Really don't know how to trat the current market, to be honest.... It could go either way, but I think we may remain at this level for a bit... bounce around $260 until there's a breakout... up!!!

The dot com boom was a kick in the arse for plenty of smart bag holders, that who knew the future 

There are lots of investments into bitcoin infrastructure. This will help merchant adoption. Slowly, bitcoin will become more popular. Even if BTC is used in 1% of money transaction in 10 years, its value will be realized.

A lot of big things are in the works and the infrastructure is growing by the day as well as merchant adoption. I wouldn't be surprised if we drop below $200 again but long term I think we will look back and see todays price as a bargain

$200 coins they said

This is the chart that's giving me pause for the time being.  I would LOVE to buy more coins under 200, but who knows? 

https://bitcoinwisdom.com/markets/bitfinex/btcusd

me too.....  I'll simply dollar cost average in every 2 weeks as I have been for a very long time now. 

you too. i'll be buying regardless of price direction.  

Ah ok, no worries.  I'm a Bitcoin bull for the record and I see great things over the coming years.  Bear markets tend to come to an end when the greatest of bulls capitulate and throw in the towel.  We might already be trneding up and moving into a new bull phase, but one last shake out wouldn't shock me.  Nobody truly knows and only time will tell.  Good luck to you!

was what i was referring to and wasn't directed toward you.  

Wow, certainly hit a nerve with a VERY possible scenerio.  Bitcoin is INCREDIBLY volatile and the last drop to 150 happened with almost zero news.  It dropped from 640ish to 150 in the matter of 3 months or so.  Listen, I'm not a "passive aggressive" sort as I have nothing to gain from playing psychological games with people I'll never meet.  I traded professionally for several years and I managed a small fund.  The contrarian play tends to work rather well.  Bitcoin could EASILY shott straight back to 300 and start a long needed bull trend, however I'm leaning towards the retest.  Good luck and please save your emotional responses for the trolls.......  I'm not looking for it.  Agreed to disagree and move along.

I agree, yet the Evolution scam could keep the price supressed for months on end. The persons behind the heist of all those coins will find a safe place (probably some Chinese exchange) to liquidate all those coins. The prospect of tens of thousands of coins hitting the market (I believed it was more than 100.000?) is not really soothing.

With current situation on the bitcoin scene, you cant go and retest 150$, it would be insane. If u only said something like 220-230 i would be ok with that, its perfectly possible
that could happen, but 150$? that would mean 50% decline from recent price tank, and it would have to be something major to affect bitcoin to loose half the marketcap practically ovenight.
Not to mention the psychological effect it would have on investors, knowing they lost half the value in a blink of an eye..things just dont work that way.

cheers

you could always say that with your bull account too

btw, it's typically amusing when someone says they used to do/think x but now do/think y when they are talking to ppl who still do/think x. wouldn't it seem easier and less passive aggressive to just say you're smarter than them about that topic?

Well, most bottoms have a retest eventually and testing 150 would be healthy and the least expected by the sounds of things on this thread.  I suspect we test 150 over the coming weeks.  It would actually be a healthy event for a sustained bull run.

By the way that triangle closed now, it's not looking good for OP.
Only time will tell.

Sell all your coins and wait $ 200 was not a 'good idea', you should hodl like a boss (and before or after the next halving you will be rich ). Don't waste your time and try to gain few bucks.

wait long long.. maybe the day you ....... lol

If for average cryptocurrency enthusiast price of bitcoin is still "too much" then I wonder how and why everyone here are waiting  for price rise?
If no one want to buy and we have posts like "I sold all my coins because price is not $500 yet, so something is wrong". Maybe it is not the problem with bitcoin economy but with mentality of people?

I don't recall ever being called a cultist for buying stocks and bonds each month, not sure why buying private money is any different. Just because you lost a bundle on Bitcoin doesn't mean the concept or overall outcome won't be successful.

Yes, I was also a cultist and a permabulltard once. But I managed to get out of the cult.

You'll probably escape the cult too some day.

that's the problem, average joe still think that the price is too high, basically only whale and semi-whale are playing with the market now

It depends on what you mean as 'long-term perspective'. Bitcoin has been around for a bit more than 5 years, so all and all that is not long-term what we have seen so far. And one may not be sure that the price will be growing in 10, 20 years or even beyond that. On the other hand, a year in the Bitcoin community is such a long time, and if we look at the charts in the last year, they don't look positive. So I would us the word 'always' more carefully.

I do not sell BTC. I just use them.

While some panic selling is going on, some people are also rapidly buying all of it at this price.

I would not even pay USD 200 for a bitcoin...

I think it will not go under 215 dollars, it is only a pump & dump for the moment and I hope this fluctuations will be lower each day. Now I think I will buy 2-3 bitcoins because I think the price will go up before the end of the month.

personally i don't think it will decline to 200, the stop is early, but shorting now isn't that bad either

better to  get back at 225-230

Well, from the herd mentality in here, I'm guessing he gets the chance to buy at $200 or less
Lets wiat and see 

From long term point of view, selling bitcoins is always wrong, but there could be short term motivation for doing that

Just buy all of them under 300$..

I agree. The recent history of bitcoin, since summer 2014, is littered with sharp steps down when a critical support level is broken.
And 200-210 looks like such a support level.
Break that, and it's big plunge time.
Of course, it may not break that, and rise from here on. So you should buy now, or wait in the hope of much lower prices than 200.

Buying at a predetermined price is a bad strategy IMO.
In this case, 200$ - because if the critical support level of 210$ won't hold, then going down as low as 120$ is possible.

very risky move the trend line could still be upwards from the $166 bottom, we've now held above $250 for a while and if we hold much longer this could actually be a small dip and buy back opportunity.

I think you will regret your decision since bitcoin price already went up to $260
But, who knows if recent hacked bitcoin is dumped

Sorry to hear about your huge mistake:
Fundamentals are king, so the only smart move is to buy and hold at this time.

Seriously, been hearing this at 600, 500, 400, etc...when is this turnaround coming?

Dollar cost averaging is the most sensible strategy for investment and divestment. Anything else is gambling.

@thms,

Thanks for the cheap coins you sold!

I really think you f'd up.

Now, go and re-buy those coins you sold. Do it now. Don't wait. Fix the mistake. Sooner, rather than later, since it will get more and more expensive. Literally.

Take my advice or leave it, your choice. I don't care. You're just a stranger on the interweb. Why do I care if you are drowning???

If Bitcoin is anyway going to the moon, it doesn't matter whether you get in at $250 or slightly lower.
I would rather not take the chance of a bull run just after I sold my coins. 

Rather than selling I'm accumulating. Thanks for the coins

on the way back to $200, nice prediction

Good luck with that...
Do yourself a favor an at least put some buying orders on the way down - maybe with some luck you'll get something filled.
Setting a mental goal that has no real reason to happen is never a good idea!

200$ is too low, question is whether Bitcoin will be ever that low again.

Shame to see an old account wrecked.

Sold all your coins? Ouch, sorry to hear it bud.

This is the most likely possibility, solid suggestion.

I think it's generally a bad idea to sell ALL coins unless we are at an obvious bubble, even then you can fuck up. We may go up right now as we speak.

I believe the general consensus is that the creator of the kwukduck account sold it to it's current owner, who BTW is a complete moron.  Best just add him to your ignore last like the rest of us. 

I am confident that BTC wil go up again soon.

If you think it will go to $100 level then place your buy orders there.

I only think you'll waste a lot time waiting for your buy order to get filled

You might regret having done that. Looks like the Price is going back up again after hitting 250 and there's a sign of strong buying going on. Regardless, anything can still happen from here. Probably you were right, probably not but for me I'm not taking the chance so still holding on to mine.

Since the mini price recovery of summer 2014, the BTC/USD price has declined in a series of steps, occurring in mid Aug 2014 (600 to 500), mid Sep 2014 (500 to 400), early Oct 2014 (400 to 300, then back to around 350), then a long period of relative stability until the big drop to around 200 in early Jan 2015.

Each step was preceded by a few days of gradual price declines. This decline took the price to just below the recent lowest price. So, for example:
- in 10-12 Aug 2014 the price drifted down to around 550, which was the lowest price for a few months. The next day the price fell sharply to below 500.
- in 13-16 Sep 2014 the price drifted down to 450, again just a new recent low. The next day the price fell sharply to below 400.
- in early Jan 2015, the Bitstamp closedown caused the price to fall to a new low of below 300, which then triggered the sharp fall to around 200.

So my hypothesis is that if the price drifts down to 200, then we will see the next big step down, very quickly (within a day to two of the price drifting down to 200) falling to 100.

Don't buy at 200. It will be the next big fall.
Either:
- wait until 100; or
- buy now, as you believe that BTC will never fall to 200 again.

Your positions decides your comments, people with bear position are talking about 50$ Bitcoin while people with heavy position saying it will go back up soon.

@OP: if you sold x00 of coins than probably it is worth waiting a better entry, which may or may not happen.
If we are talking about two or three coins, it doesn't matter.

i hope for you you made right choice but i very much doubt it. you will regret selling your coins once price recovery kicks in.
if it goes to $200 then you are very lucky to say the least.

bitcoins real unique characteristics have been overshadowed by speculative buying.  I wouldnt be surprised if were back under 200 soon.

You think people that were into bitcoin in 2010  were there to make big money?
No, they are there because they see something is wrong with current system and this new concept has potential to overcome some of its biggest problems. At least I was. Some might just be interested in it from an IT perspective.
I sold all my coins many years ago because i needed fiat to pay my bills.

I'm still here for the same reason, current fiat system is screwed up from the bottom up and we look to explore alternatives.
The whole alt-coin business is even more screwed up by the community than bitcoin is, so i would still bet on bitcoin.

Please refute the points i made...

Confirmation times are unpractical for POS, yes there are workarounds
Blockchain size is huge, causing centralization, which is opposite of what would be desirable. It's also ever increasing, since 2010 I've heard every.
Transaction capacity is way way too low to be a global payment system.
Since 0.6.x not much has been done on bitcoin, some minimal changes where many and big ones are really due.
Bitcoin works on supply and demand, exchanges are faking a lot of the volume and price, the real worth isn't even a tenth of what it shows on the exchanges if it was real supply and demand.
US and Australian government are still in the process of selling huge amounts of BTC. A lot of hacks and scams have happened in the recent past that also cause panic and selling pressure.
I have yet to encounter the first person in real life that wanted to have bitcoin instead of fiat, even after explaining the whole thing for an hour... It doesn't mean bitcoin is the one to blame here, it's the people that are mostly ignorant or messed up.

How much did you buy that legendary account for? Surely your ability to hold and then trade/sell all those bitcoins from 2010 has made you so rich that you wouldn't even care what the current price per coin is right?

But but but you entered bitcoin in 2013. Weren't you calling for prices of 100k in early 2014!?

Like most early adopters, he's actually smart and sane enough to see where this is going. The cultists are typically the people that entered Bitcoin in 2013 or later. Most cultists and permabulltards own less than 100 BTC.

Everything emboldened is garbage. You were mining bitcoin in 2010. How far you have fallen.

Fundamentals are f'd.
Many stolen coins to be dumped by hackers and governments.
Outdated unscaleable technology.
Development pretty much stopped.
People don't care for funny fantasy internet money.

Considering that, I'm extremely positive with my prediction.


@Inca
I will say i was wrong when it goes back to $500+ steadily and stays there for at least a few months, any big spikes are just cats waiting to die once again.


And yes, i'd love for that to happen.

I still think the concept of bitcoin has great potential, the community just f'd up on so many levels that i don't think we can overcome that dark shadow anymore.. Thanks internet!

What price do you concede you are wrong?

And what does lead to you this ending?  I don't see any huge drop and i don't think we will go below 240, only if big dump would happen (stollen coins or something along this) then i would think about that scenario but i don't see anything like that anywhere near.

It will reach 200 very fast, don't have to worry about that, but it will go much lower, i don't think it's smart to buy back at 200 already, try 180 or even around 50. 180 is possible but im unsure if we will stabilize or have a dead cat bounce there of which you can profit.

The price could go go down 50$ but it could also go up 50$. Which one is more likely ? Honestly I don't know, I feel it will go back up if it go down but apparently you feel it will go back down if it goes up.

I am keeping the little I have

Buy now before 270!

You haven't bought back in yet you silly sod

Sorry to tell you my friend but you have fucked up.
We won't be heading down to 200 anytime soon if even ever 

You should have just shorted it in the first place instead of buying it straight up. You would have made about 25 bucks per coin profit. If you leveraged the amount and were able to get 1,000 bitcoins, you would have made 25k.

 Well, you choose a bad time to sell, the price would heading up  soon, you might be regret latter.

Maybe even lower, depending how fast it reaches 200.