Some "no-name" hedge fund investor who is most likely leveraged up long is telling you "not to sell"...
Sucks that he comes out now. Where was he last week before the 20% crunch?
I want to see 6k or lower... My bear bag is wimpy and im not ready to turn bull until doge makes some moves
Topic: Morgan Creek CEO, Mark Yusko Commented: Don’t Sell Bitcoin - page 2. (Read 500 times)
Isn't it obvious that this is just a small pullback and everyone should know that this won't last long. And why would they have to sell when the price is already dumped? Only weak-handed people will fall for the FUDs instead of buying during this dip.
Mark Yusko is clearly talking about Bitcoin as a believer, not as a cold profit-oriented professional. For him, Bitcoin is about beating inflation, promoting equality. So honestly, a guy like that would probably vouch for Bitcoin even when it would not be a good idea to invest.
Most people here do the exact same thing. If we go down by 5-10% people directly refer to it as a great dip to buy, and they repeat that as long as the price keeps going down. It starts with them saying that it is a great dip to buy, where it then changes into it being the last opportunity to buy Bitcoin below this or that level.
In the end, the actual goal of the person buying Bitcoin is what matters. If you're only interested in a short to medium term flip, today's prices are probably not interesting because it looks like we will go lower. If you're dollar cost averaging to build up a position, then buying at today's prices isn't all that bad. This important bit of context is what most perma bulls don't usually highlight.
Well, this is exactly how people end up losing money--they sell bitcoin (or whatever) as the price is crashing. Call it panic selling or whatever, but if you truly believe in bitcoin's future there's no reason to sell it right now. Even if you'd still make a profit at $8k or whatever; there's still a strong possibility that it'll get right back to $10k and beyond. I don't need a CEO to tell me what should be obvious.
when are all the weak hands going to let go?
That's already in progress. I hadn't checked bitcoin's price since yesterday afternoon, but it's rebounded somewhat and it's above $8k right now. Not too shabby, because when I last checked it was spiraling well below $7500 IIRC.This reminds me of the flash crash on the later part of 2018 where BTC's price plunged lesser than 4k but eventually rebounded to 10k levels for several months and I'm optimistic that this pattern might repeat again
Yup. I see this as a buying opportunity. Unfortunately I've bought all the bitcoin I could for now, and it wasn't even that much. It always amazes me how hard it is for investors to buy something when the price is going lower. It's looking like a fire sale to me, and the smart money is probably buying in slowly. We'll see where bitcoin is in a month. My guess is that it'll be closer to $10k than $7k--but that's only a guess. 
The veteran investor of hedge fund, Mark Yusko has said that it is not the right time for sell and Bitcoin (BTC) is only showing a buy signal. Yusko gave this statement in an interview with CNBC on 27th September.
I don't have to be "a Veteran hedge fund CEO" to state the obvious, in fact i could swear i have said so here one way or the other.
Never sell, basically, except what you must absolutely need for daily needs. That's what someone who went 100% Bitcoin should do. Oh, but if you still have a source of income in fiat, then use that for your daily needs and leave the bitcoins alone.
Those who went in for the trading, even more should already know not to sell for a price under what they bought. And especially, don't act on impulse or fear.
Except am 100% certainly btc will go even lower than current price, only then I will think of selling to buy below price, if not selling won't be an option to me, panic sell is the wrong thing to do at this time, btc will always recover and perform better.
Noo...! I want the purge to happen and if guys like Yusko simply don't want to give up and keep hyping it up, when are all the weak hands going to let go?
This bull run everyone wants to happen? It can only really happen when actual capitulation happens. We came close I guess. But not quite there. And so it's no surprise the recovery ran out of steam.
This bull run everyone wants to happen? It can only really happen when actual capitulation happens. We came close I guess. But not quite there. And so it's no surprise the recovery ran out of steam.
Maybe it's too early to say that recovery has ran out of steam, last bull markets weren't exactly a straight upward looking line. If you remember, months before reaching ATH in 2017 Bitcoin actually had a big crash when the price went from ~$4,600 to $3,300 - a much higher drop in terms of percentage, compared to now. So far bear markets usually came after huge bull runs, it would be uncharacteristic for Bitcoin to have a bear market now. If it will happen, it would mean that a 10 year long pattern has stopped.
Mark Yusko is clearly talking about Bitcoin as a believer, not as a cold profit-oriented professional. For him, Bitcoin is about beating inflation, promoting equality. So honestly, a guy like that would probably vouch for Bitcoin even when it would not be a good idea to invest. The current price might be a temporary thing or a new trend. I think it largely depends on what the majority of Bitcoin holders would decide to do: try to make the bull run continue or dump Bitcoin hard to buy even cheaper and rise even higher after some time. I personally did not enjoy 2018 and Q1 of 2019, I would not want something like that or even worth happening again. So I am with Mark on the point about not selling the coins.
Noo...! I want the purge to happen and if guys like Yusko simply don't want to give up and keep hyping it up, when are all the weak hands going to let go?
This bull run everyone wants to happen? It can only really happen when actual capitulation happens. We came close I guess. But not quite there. And so it's no surprise the recovery ran out of steam.
This bull run everyone wants to happen? It can only really happen when actual capitulation happens. We came close I guess. But not quite there. And so it's no surprise the recovery ran out of steam.
I think anyone who has been in the crypto scene for long enough knows that this is just a small pullback. This isn't some death rattle and big investors see red numbers all the time.
Just hodl.
It's those who are novices when it comes to Bitcoins that tend to sell when they see the prices dropping because they fear losing all their investments but when it comes to Bitcoins you only lose or make profit when you sell your coins. So hold and have patience because it will definitely go up again as usual. Just hodl.
Except you bought four months ago when bitcoins and indeed other cryptocurrencies were deep in the bear period, you would be selling at a loss if you sold now. And a smart investor wouldn't panic sell at a loss.
It is always advised that traders should only spend capital they can afford to lose, in this case you would not be in dire need of cash and need to dip into your crypto pocket. We are currently in a buying phase
It is always advised that traders should only spend capital they can afford to lose, in this case you would not be in dire need of cash and need to dip into your crypto pocket. We are currently in a buying phase
It's normal for people to cry a river in every correction like we are having now. After we might have started seeing and upward trend, you start seeing graphs of $40k, $100k and so on. Anyone selling bitcoin at now, I just hope they won't be asleep when we enter a bullish zone.
Well, he is right. The only factor which has real negative potential in it is the way of application of FATF recommendations which could result in problems with transferring BTC between wallets. But it would not be a problem for long TBH
I think anyone who has been in the crypto scene for long enough knows that this is just a small pullback. This isn't some death rattle and big investors see red numbers all the time.
Just hodl.
Just hodl.
I agree 100%. A smart investor always measures the overall worth of the asset not the market sentiment. The latter is important for day traders.
Was there any major problem with the bitcoin network? No.
Was there a government ban? No.
Was there a confirmed incoming threat to the asset? No.
On the other hand, there are some indicators that it's the right time to buy like:
Was there a long ongoing bear market that made the asset trade for about 30% of its peak value? Yes.
Is there uncertainty in the market following the recent bear market? Yes.
Is there a halving event coming? Yes.
I held when my coins were worth 4k USD each, why would I sell now when it's at 8 or when it falls to 7? It's working great as a substitute for my old savings account with 3% a year.
This reminds me of the flash crash on the later part of 2018 where BTC's price plunged lesser than 4k but eventually rebounded to 10k levels for several months and I'm optimistic that this pattern might repeat again thus the signal to hodl BTC seems a smart move especially if its coming from a reputable hedge fund manager in the likes of Mark Yusko.
Now I would assume that not all crypto holders will believe in this advice and I understand that since crypto markets are naturally very volatile that its pattern is almost unpredictable compared to trading in stock market. I just hope his advice will be justified very soon.
Now I would assume that not all crypto holders will believe in this advice and I understand that since crypto markets are naturally very volatile that its pattern is almost unpredictable compared to trading in stock market. I just hope his advice will be justified very soon.
The veteran investor of hedge fund, Mark Yusko has said that it is not the right time for sell and Bitcoin (BTC) is only showing a buy signal. Yusko gave this statement in an interview with CNBC on 27th September.
Read More: TheCoinRepublic
Read More: TheCoinRepublic
Anyone can sell his Bitcoin for personal reasons but not to dump all of it with no reason at all or because he is reacting to the market situation, this is the hundreds of times that we are in this situation and even worse in the past, I just bought Bitcoin a day after it dropped but I am not worried at all, I have seen the worse and expect the best to come.
The veteran investor of hedge fund, Mark Yusko has said that it is not the right time for sell and Bitcoin (BTC) is only showing a buy signal. Yusko gave this statement in an interview with CNBC on 27th September.
Read More: TheCoinRepublic
Read More: TheCoinRepublic
Mark Yusko is right even though he is obviously hyping up Bitcoin. He has always been very bullish on Bitcoin. And I am not saying we need to listen to them most of the time. If the news is all about the remarks of this kind of personalities who have direct stake at how the price of Bitcoin will turn out, I would take it with a grain of salt. They are directly involved in it and so they cannot be objective. On the contrary, they are acting as influencers.
Well, technically speaking he's correct that this is a buying signal. But this dump has made a serious frustration to the newbies there that encountered this kind of scenario for the very first time, I know that feeling and I guess everyone understands them too.
Think of this.
Obviously, Bitcoin has survived worse than this, like the entire previous year, for example. Selling now would be a disaster for everyone who tries to do so. Now is the time to buy, or at least HODL.
As I've mentioned in a speculation thread, we're still up and doing good even bitcoin's current price is $8000. Think of this.
the bottom for this year was $3,400 and we are still @ $8,100.
The veteran investor of hedge fund, Mark Yusko has said that it is not the right time for sell and Bitcoin (BTC) is only showing a buy signal. Yusko gave this statement in an interview with CNBC on 27th September.
Read More: TheCoinRepublic
Read More: TheCoinRepublic
It's sad to see that the confused newbies rely on such news in order to make buying/selling decisions.
Unfortunately that's how market capitalism works.The people,who don't know how to manage their money(or coins)usually lose them and the money goes to the people,who do know how to properly manage them.
I don't care what Mark Yusko says.Panic selling is always a bad decision.
Wise man!
But real believers of Bitcoins will not sell it for sure. It's just a pullback that has been there a lot of time. Bitcoins have risen and will rise soon.
But real believers of Bitcoins will not sell it for sure. It's just a pullback that has been there a lot of time. Bitcoins have risen and will rise soon.
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