$1000 would be a tough barrier to break through. It it hit $1000, I'd definately sell. It might go higher, but I doubt that it would go much higher.
The same tough barrier that was in November / December 2013?
The same was also said when bitcoin was about to reach dollar parity. (1 bitcoin = $1).
You never know what the future holds or what will happen in bitcoinland.
There's a big difference between a $15 billion market cap and a $5 million one. Reaching $5 million is almost trivial. My old landlord who drove a '92 Ford probably had that much money stashed in his bank account. Reaching $15 billion on the other hand isn't quite so trivial. $15 billion is the kind of money that gets your name listed on the Fortune 500 and your face printed on its cover. It's the stuff that 99% of tech companies in Silicon Valley can only dream about but never achieve. For Bitcoin to have even achieved something even close to this figure in such a short length of time is an amazing accomplishment in itself.
lets see 52 BTC .... would be 52K usd
i have 1700 LTC lets say that is linked to btc and goes up to say 5 bucks from todays price so around say 8.5K
or about 60k ..yeah ......i'd walk around with a btc woodie for week at least!
not sure if that qualifies as what would i do..but still likely true!
When Bitcoin went over $1,000, Litecoin actually went up to $48. Litecoin tends to rise and drop more dramatically than Bitcoin but otherwise usually follows the BTC price trend pretty closely. At ~$50 per coin, your 1,700 LTC would be worth $85,000.
Maybe cashout. I don't think I want to go through another crash like it was last year. Too much to lose.
you can also sell a part of your coins to get back your initial investment and keep the profit in btc. which means you will not face any risk.
Sorry to break it to you but losing $1,000 is losing $1,000 even if it just means you lost the opportunity to have $1,000 more than you would have currently. It might not "feel" the same but it's the same loss in terms of worth/value.
Maybe cashout. I don't think I want to go through another crash like it was last year. Too much to lose.
It would only intelligent enough to cash out only if you are 100% certain that you are holding on a bubble thats about to burst. Next time that we hit 1k, we'll know a fact: Bitcoin can recover from a mega crash and hit ATH twice. Once you sell, there will be most likely a small correction back to 700's territory, then continue towards unseen higher prices. It's a big risk to abandon ship at the next 1K peak.
Actually it would be the fourth time it happened. It hit $33 in June 2011 then crashed before eventually re-reaching it and then rising far above it. The next peak was at $265 which it surpassed after a few months. The third peak was at $1,200 which happened on November 2013. The next time it rises above this price, it would be the fourth time that it recovered from a crash and hit its previous ATH (or possibly the fifth if you count the time it reached dollar parity in early 2011 and then tumbled all the way back down to cents again).
And during the last ATH, it did crash back down to the $700's-900's but instead of going up and up, it just went down and down.
It's also possible that we might never "see" $1,200 at all because the rise could happen so quickly that we might not really notice it. I think this has been the case a few times in the past as well.
If btc goes to 1000, many here can retire or use it to fund or build more bitcoin businesses.
This is the key and along the lines of what I have planned, I would sell at least half of my coins and then start up a business that is well over due in the crypto scene. So yeh OP we go to $1000 I sell a nice chunk but that is not me out the game, I would be back to make more within a month.
The barrier towards entry in the tech space is quite low. Massive businesses have started with just a few lines of code, a domain name, a server, and (above all) a good idea. Having a massive amount of money would definitely help but it's not essential.
If btc goes to 1000, many here can retire or use it to fund or build more bitcoin businesses.
Bitcoin goes to 1000 usd soon i can turn my 550gh knc jupiter from 2013 back on ...yea!
Except then others would try to get into mining as well, thus increasing the network difficulty and making them unprofitable again.
Maybe cashout. I don't think I want to go through another crash like it was last year. Too much to lose.
It would only intelligent enough to cash out only if you are 100% certain that you are holding on a bubble thats about to burst. Next time that we hit 1k, we'll know a fact: Bitcoin can recover from a mega crash and hit ATH twice. Once you sell, there will be most likely a small correction back to 700's territory, then continue towards unseen higher prices. It's a big risk to abandon ship at the next 1K peak.
Good point actually, but I'm thinking after that. If it were to crash again, all you would see is people bitching about how their investment portfolio has fallen apart. On a totally the other end of the spectrum,
you would see people buying Bitcoin in bulk in hopes it bounces back The Bitcoin community in my honest opinion can be quite fragile at times. When the price went below 200 people were freaking out. People don't seem to be so into the whole "bitcoin scene" when the price isn't up. I can only imagine what it would look like after another crash.
Some people are doing that right now. Many people have been doing exactly that throughout all of 2014 as well.
People were freaking out when the price went under $400 but they became used to it. Then people were freaking out when the price went under $300 but they became used to it. If the price goes under $200 and stays there (as opposed to merely experiencing a temporary dip like it did earlier this year), a lot of people will freak out initially but eventually we'll all just get used to it again like we did many times before.
Maybe i will sell half of my bitcoin and buy some golds and goods, and i will use my others part for investment and trading
. But i can see, many people will hold it for many years, maybe i will follow their guide. But i still afraid to hold bitcoin for a long time, because the price now is unstable
It's not that unstable. If there were 2.1 billion total coins, the price today would be $2.20 per coin. Over the past several months, its trading range would have been $2-$3 per coin. Back when the real Bitcoin was trading at these levels, it was actually more volatile and unstable.
If I ever hold some Bitcoins then I would consider holding them for now no matter what the price is! Because after 22 years the block reward will be 0.4BTC! Why sell it for Thousand when you can sell it for millions after 22 years (IF BITCOIN STILL EXITS AFTER 22 YEARS)
That is a pretty big assumption, isn't it? How many company 22 years ago still exists today?
You compare Bitcoin with a company?
Its a virtual
currency! How how long has been the
United
States
Dollar been running?
Not the best comparision. Some companies like IBM, Ford, and Kellogg's have been running for over a century. Some currencies like the Hungarian Pengo and German Papiermark lasted only a few years before collapsing.
