I basically know shit about how BTC works. I received a payment in BTC when price was $750 a few days ago. My lazy ass didn't sell it right away and now I am panicking. Current price is $618 and it keeps falling. I'm panicking. What should I do? Should I sell it right now or should I wait and hope for the price to rise back to $750 or at least closer to it?
It's impossible to predict what the price will be in the future. It all depends on the demand. If more people want more bitcoins, then the price will go up. If less people want less bitcoins, then the price will go down. That's how markets work.
How will you feel if you don't sell, and the price goes all the way down to $50 in the next 24 hours?
How will you feel if you do sell, and the price goes all the way up to $2500 in the next few days?
Both possibilities are unlikely, but they are also both possible. You need to decide for yourself what you are able to accept.
