Morgan Creek CEO, Mark Yusko Commented: Don’t Sell Bitcoin

BitHodler

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Quote from: Dabs on September 28, 2019, 07:40:38 PM

If you can hold it for another 5 years, that may be a good time frame and then start selling later.

Decisions.... that's what it comes down to. I mean, you can choose to lock in guaranteed profits of 100-200% when you're up, or choose to wait some more years with the risk of not making an awful lot of extra profit justifying the wait.

I have thought about it myself, and I will probably end up selling 25% of my total holdings whenever we hit $20k and from there carefully follow the price action. Thinking back now, I probably should have sold 25% during the peak in 2017.

I noticed that I'm not so comfortable anymore riding out those deep corrections. It's psychologically quite a bitter pill to swallow because you get used to the higher prices and then wake up to the reality of this volatile market.

fabiorem

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Dont sell, but dont just go "all-in", please.

People who go "all-in" are the most likely to sell at any price crash, because they might need the money before the price recovers.

Dont listen to beartards, and dont listen to bulltards either. Balance your investments, aim for the middle. Bitcoin is a great invention, but it should not be treated as a cult, or as a way to quick profits.

MI6

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I am not sell my bitcoin. Actually not more than 0.03BTC that i have for now. But i think hold it for longer time is worth to do. But for who hold, i think keep positive about investment is not bad. Maybe a lot of people already know if must use free money to make investment. So they are not worried anymore when must hold for longer time, at least it is to get better profit.

Kotone

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Cant blame some nervous and panic investors who bought at 10k levels or more and now bitcoin is at 8k level or can go down more. But as Ive noticed this market for a very long time, I can sense that this is just a temporary set back and minor corrections. Many scenarios that worse than this happened in the past and you should be calm on this moment and try not to check on market news or anything. Forget first youre investment here and chillax, it will recover in due time. You will only lose if you sell, not i you hold.

Dabs

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The right time to sell varies on the individual who bought it. If you are somewhat comfortable already and are using extra money that you can afford to lose, then the right time to sell will be when you want to spend it already.

If you can hold it for another 5 years, that may be a good time frame and then start selling later. In the meantime, since you are using extra or disposable income, you can continue to buy in the style of dollar cost averaging, to keep adding to your stash.

Distraction

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I think that there is no need for panic selling. I am aware of the seriousness of this fall but I think that the fall has stopped. It circles around 8100 dollars. It can stay at this level for some time and after that I expect it to start rising up.

tranduc2101

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

I agree with him because his statement is true. At present, we should not make comments regarding Bitcoin.
The market is always volatile, and that makes a profit, why should we worry about that?
The bearish market will allow new investors to enter the market when the price of Altcoins is lower, creating more opportunities for new investors.
We should not worry about the dump market every day, and that will create FUD.

NewBet

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Quote from: Wexnident on September 28, 2019, 10:57:11 AM

Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

Im pretty sure old timers are already experienced with how the bitcoin market flows. Fear always holds those whom are beginners and those old timers are fearless in holding. Holding is the number one key to success mateys so trust the experts and hold. Btc has been through a lot of downs and most people took this as an advantage. Now look how much they profited now.

Yeah, the best thing is buying and holding, because it is nigh impossible to predict the price. better off holding and also it's much less stress because day trading is too stressful.

Wexnident

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

Im pretty sure old timers are already experienced with how the bitcoin market flows. Fear always holds those whom are beginners and those old timers are fearless in holding. Holding is the number one key to success mateys so trust the experts and hold. Btc has been through a lot of downs and most people took this as an advantage. Now look how much they profited now.

Digitalbitcoin

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Although many people will have shocked at the price of Bitcoin currently against fiat. So many are just giving advice and suggestions. But everyone needs to adjust to the situation.

But many who are still unfamiliar with bitcoin are selling bitcoins because of incomplete information and fears.

Along with many countries are still don't have proper policies for such digital assets. So regulations issues can also lead to panic sell.

Better to give more time to understand the technology behind bitcoin and other altcoins which can give the user more confidence and power to make decisions according to situations.

Ferris419

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This is true. Bitcoin came at the buy zone, this is not the right time to sell. Wise investors will buy Bitcoin, and panic sellers will sell and I hope we don't have many panic sellers anymore! Bitcoin can bounce back anytime to head over 10K USD!

pixie85

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People are afraid of Bitcoin because they don't understand it and think something so sophisticated can only be a bubble.

I understand them because there's a rule of a bubble that says the asset needs to be misunderstood and handled by people who base their judgement on other people's profits and on the rumor that it can bring them wealth without doing any research. Like that saying that when everybody around yo starts talking about buying something you should think about selling it.

Once in a while we get a really great investment that people miss out on because they don't understand it and it was like that with Apple, Amazon and many others. It's a great time to be in Bitcoin because we are still that 1%.

putukin

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

No one is forcing people to sell Bitcoins now. What for? You can be patient and wait out the bear market to get profit during the next bull rally. Now you need to wait for a full price reduction in order to buy Bitcoin at a bargain price

bitsurfer2014

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Quote from: buwaytress on September 27, 2019, 09:50:50 AM

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.

I guess this is a part of Bitcoin's ongoing evolution and will naturally wither out those who have weak hands and don't appreciate its long term value so to speak. So far, I think that the crypto industry is getting more mature everyday which is a good thing for it could result to a more robust crypto industry!

Quote from: The Sceptical Chymist on September 27, 2019, 03:34:24 PM

Quote from: bitsurfer2014 on September 27, 2019, 08:32:29 AM

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.

A buying opportunity indeed! This is the real mindset of investors who appraises Bitcoin on its long term value and relevance. I really liked what Mark Yusko stated that says -

Quote

All the indicators of the network and the network value are rising; the price of any asset fluctuates. Examples included network hash rate, transaction volume and wallet numbers, all of which have continued their upward trajectory this year

- which are important facts that we just cannot just deny or refute easily.

Source: https://cointelegraph.com/news/when-to-sell-bitcoin-never-mark-yusko-says-btc-like-amazon-stock

eaLiTy

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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.

Welcome to the BTCitcoin market, for a long time we were seeing a stable price and it is bound to have a correction once in a while and it is nothing new, if you check the price charts of the past five years you will have an idea how the market usually performs and we might see the market going down further from this position before the rally. It was like that before the last halving and expect the same this time around too.

teosanru

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

He retweeted a tweet which said Inflation is the biggest cause of wealth inequality in the world and BTC is a way out. He is a veteran investor thus I cannot really doubt his understanding of Cryptocurrency and it's impact on economy. But saying that inflation is the reason of unequitable distribution of wealth is just rubbish. Unequitable Distribution is due to lack of skill sets among a set of population and improper financial planning by them because what we are talking about is a capitalist economy and not a socialist one. People are themselves responsible if they are poor. Secondly BTC cannot be a way out because no way it is going to be equitably distributed infact it will just become a currency which everyone would love to hoard becuase you could buy something cheaper tomorrow so I would buy it tomorrow.

Coming to the point of selling bitcoin, Yes we all know the volatile nature of bitcoin. It skyrockets in a day or two and then is dumped in a day or two. So it's better to hold until you see clear signs of bearishness.

Miklight88

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many are getting to understand what bitcoin is and how powerful it can be for the future asset storing purpose rather than this fiat of inflation and centralized of a thing , i see the adoption coming quick enough but the road to it is alao rough which is normal .

Danslip

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The experienced crypto trader knows how to handle the bad days in the crypto markets, I personally have seen similar quick price movements on the Bitcoin charts. The big banks will also buy cheap Bitcoins if the market keeps declining further and the average Joe will think that the price will go to touch the $3000 which is the best entry point for him. The average dollar cost per trade can be reduced with the smart trading setups and proper money management rather than doing the same trading management strategies like ordinary people. The old BTC hodlers will never sell on the pullback and they have a proper education which lightens the road on the dark market days. It takes years to see a light at the end of the tunnel but it worth all those up-down years for living in the wiser trading days in my opinion.

Kemarit

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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.

True, but I guess many are still in the panic mode when they saw the price going down to $8000 and just decided to push the sell button. Crypto investments is a journey, we might see lots of ups and downs along the way, but if people are going to sell every time their is a big dip, then it's their lost.

I guess it did shake the weak hands again and it's good though, this purge causes the strong hand investors to win (again) in the end. And for those who remain, I'm sure they're taking this opportunity again and could probably wishing the price to dip more.

figmentofmyass

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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.

in early july, he also thought bitcoin was headed to $30k. suffice to say, he's prone to being overly bullish.

i actually agree with him though. bitcoin has already dropped nearly 45% from the highs. most people selling down here will end up losing coins---they'll have their bear hat on when the bulls take over again, and won't buy back fast enough.

Mr.Ease

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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

Oceat

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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.

1Referee

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Quote from: kryptqnick on September 27, 2019, 12:18:02 PM

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.

The Sceptical Chymist

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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.

Quote from: buwaytress on September 27, 2019, 09:50:50 AM

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.

Quote from: bitsurfer2014 on September 27, 2019, 08:32:29 AM

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.

Artemis3

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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.

nicecrypto

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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.

hatshepsut93

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Quote from: buwaytress on September 27, 2019, 09:50:50 AM

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.

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.

kryptqnick

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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.

buwaytress

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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.

yoseph

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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.

Upgrade00

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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

Leonardo7

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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.

Linkkoin

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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

coolcoinz

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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.

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.

bitsurfer2014

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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.

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

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.

Darker45

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

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.

sunsilk

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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.

Quote from: goto22 on September 27, 2019, 07:03:39 AM

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.

Quote from: sunsilk on September 26, 2019, 03:05:56 PM

the bottom for this year was $3,400 and we are still @ $8,100.

davis196

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

It's sad to see that the confused newbies rely on such news in order to make buying/selling decisions. Grin

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.

GMoore87

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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.

joelsamuya

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I could not understand why some Bitcoin holders can still be affected by any dip of its price when we know for a fact that this is just a normal occurrence with this cryptocurrency. Soon Bitcoin can be going to the top again with a big comeback so the best thing to do is continue on holding just like what Mark Yusko is suggesting for us to do. People who are giving up the "fight" and sell will be shocked to soon learn that Bitcoin is back on the game and can be on its way to $20K.

goto22

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Quote from: Harrydose on September 27, 2019, 06:54:47 AM

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

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.

Harrydose

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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

Topic: Morgan Creek CEO, Mark Yusko Commented: Don’t Sell Bitcoin (Read 500 times)