opinions on downward trend - page 3.

VitKoyn

full member

Activity: 490

Merit: 106

Quote from: Jbitz2late on January 14, 2018, 12:28:50 PM

When bitcoin price is going in a downward trend what's the best way to weather the storm?
get out while you still can?
Buy alt coins?
or just wait it out?

In my opinion, if you own some Bitcoin and when the price goes down the best thing to do is just hold it and wait for another bull market. Cutting your losses is not that bad but why do we need to sell it if the price will surely recover soon, you just have to be patient. Instead of selling why not just add more Bitcoin to your investment, that would be a good time to buy at a lower price if you still have some extra money while waiting. Using Bitcoin for altcoins when the price drops? I don't think that is a good idea because most of altcoins in the market will also fall when the price of Bitcoin drops.

1Referee

legendary

Activity: 2170

Merit: 1427

People with their downward trend nonsense. It's obvious that the market is consolidating, but then within a wider than average range. If you look closely, and see how repetitive the movements are between $13,000'ish and $14,000'ish levels, you will directly spot a great money making opportunity. If you time it right, you can make a decent bit of profit in just a matter of days, and quite often in less than a day. Learn to analyze the market and see how profitable these repetitive movements are for youself. As soon as we break out of this consolidation phase, these repetitive patterns will be no longer there, and thus it's time to just hold again. It's just a matter of logical thinking, really.

Chris314

sr. member

Activity: 672

Merit: 266

These last days the downward trend isn't spectacular, I would even say bitcoin price is stable around 14k$ since the beginning of the year. So just wait, or buy in small dips if possible.

whirlcoin

full member

Activity: 602

Merit: 111

Quote from: Jbitz2late on January 14, 2018, 12:28:50 PM

When bitcoin price is going in a downward trend what's the best way to weather the storm?

get out while you still can?

Buy alt coins?

or just wait it out?

For me just wait and if you can buy more bitcoins,soon the price will bounce back.The current downfall of bitcoin is due to South Korea ban so it needs some time to attract the new investors.But bitcoin has the ability to reach the prices back in very short time.So we have to be patient while the prices are falling.

Yeperdoodle

newbie

Activity: 18

Merit: 0

As a trader, I would buy when price starts to bounce up on a major support level though. The chart helps us anticipate that, and although not 100% accurate, at least it's an intelligent guess.

TheQuin

hero member

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Merit: 883

Freebitco.in Support https://bit.ly/2I9BVS2

Quote from: Xavofat on January 14, 2018, 01:26:25 PM

It's the opposite of the mantra "buy low, sell high".

That is exactly it, now is the time you should be buying if you intend to build a larger position. Buying all the way down the dips will give you a better average entry price. Don't try and guess what the low will be, just buy little by little everytime it goes down further otherwise it may reverse on you and you'll miss the opportunity altogether. That's not a trading strategy, but it is how to accumulate a hodl.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

there really isn't a single answer for this because it depends on a lot of factors.

the most important factor is timing. for example if you see price dropping AND also speculate the drop to continue for a while, like after a very long bull run eg $19600, then selling on top is a good idea and then you wait a couple of days to go back in at the bottom.
but the same thing can be the cause of a lot of money lost. if you choose the timing wrong, for example if you sell when it is already too late. eg selling at $12000 after price already fell 35%

as for altcoins they rarely are good choices during bitcoin price drops because when bitcoin was having that 35% drop, altcoins were having 50% drops.

btcformula

full member

Activity: 378

Merit: 101

BTC price jump reason Hard fork, Media also do there job best. Lot's free money entering for fork that also push up BTC price. But people got fed-up on fork & Media news. 20K reaching is complete dream for us. So all this factor just vanish now. and we see the result. Also, some negative news like BTC banning on country, litigation, high trx fees bring down BTC price

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Generally, unless you're actually a good trader or unless you irresponsibly invested too much and really need money for something, selling during dramatic falls in price is not a good idea. It's the opposite of the mantra "buy low, sell high". It's often worth waiting until the next bull market (probably a long time).

Quote from: Jbitz2late on January 14, 2018, 12:28:50 PM

Buy alt coins?

Altcoins' long-term trends are often similar to BTC, so probably not, but it depends what you're investing in.

Quote from: Jbitz2late on January 14, 2018, 12:28:50 PM

or just wait it out?

Yep. HODL it.

Kprawn

legendary

Activity: 1904

Merit: 1074

The best thing {based on previous history} is just to wait it out. We have seen much bigger drops in the price before and

most of us just hoarded until the price recovered or until it broke previous records. I think once the Lightning Network is

fully implemented, most other Alt coins will fail and Bitcoin will be much higher than before. Grin

Irvinn

full member

Activity: 966

Merit: 104

While bitcoin has outlined a downward trend, I think it makes sense to wait a bit to wait for its new growth in price. Bitcoin will very soon begin to grow new, this is unambiguous. True, its growth can be significantly affected not by the elimination of its shortcomings with respect to the slowness and high cost of transactions and it is difficult to predict how eventually he will behave. After all, for a little he loses his popularity. On the other hand, now selling bitcoins and translating them into altcoyins is already expensive and transactions can get stuck. Therefore, I would prefer to wait and see what happens next. Is it possible to withdraw from Bitcoin part of the funds, if there is a good and promising altcoyne in mind. Or it is possible in ethereum, which is now growing well in price. However, again, transactions with ethereum are also starting to hang and commission fees are rising. It seems better still to wait.

Jbitz2late

newbie

Activity: 9

Merit: 0

When bitcoin price is going in a downward trend what's the best way to weather the storm?

get out while you still can?

Buy alt coins?

or just wait it out?

Topic: opinions on downward trend - page 3. (Read 563 times)