Selling Bitcoin - page 16. | Bitcointalksearch.org

SupersonicCrypto

newbie

Activity: 4

Merit: 0

Quote from: unknown_36 on October 16, 2017, 11:47:03 AM

I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?

Hi and Welcome,

People usually sell due to FUD (Fear Uncertainty and Doubt). If one does not believe in the intrinsic value of Bitcoin and has bought Bitcoin as a speculative tool just with the hopes of making profit, when the prices dip such people give into FUD and sell their coins to avoid total capital loss not knowing that it is normal for the seasoned investors in the cryptosphere.
I wouldn't! Dayum I did not sell my ZEC for so long but I finally gave up and sold it today.. because it was eating up my potential earnings so I did not want to stay invested.. That's another reason why people might sell... If they see that they can get a better return in holding another altcoin if the current investment does not seem to benefit you as per your set targets/goals.

Kprawn

legendary

Activity: 1904

Merit: 1074

We are not going into this to lose money, but to make sure you do not lose money, you should buy low and sell high for a while and

not re-invest the profits... until you break even of you show a little profit. Example : You buy bitcoins at a price of say $5500 and

then when the price goes to say $6000...you sell everything and put the +/- 500 profit to the side... You do this until your total

profits are equal to your investment capital. {Once you reach this point, your investment is risk free} Manage the risk and you will

be fine.

Crypdon

member

Activity: 616

Merit: 11

Either you need to cash in due to personal circumstance, or you trade it for altcoins which can rise up a lot quicker. Also be aware parties don't usually last forever ..

Hui8

sr. member

Activity: 602

Merit: 259

Quote from: unknown_36 on October 16, 2017, 11:47:03 AM

I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?

That's because people are really impatient and they don't want to wait for longer periods to get the right spot. That's why we don't see much millionaires, because they are the one who can invest big and invest bigger in the time itself. I'm pretty sure it's not about the strategic investment, those are just dumb decisions made by average investors who want to earn like millions and don't wanna loose a single penny.

Priest Sannin

full member

Activity: 217

Merit: 100

A great example of this was last week when Bitcoin simply jumped from a range of 4300 to 5695 (current value that is holding up) I know everybody is looking for a lower price but when I saw that I quickly sold my coins at 4574 fearing some kind of massive droping. Lesson learned

setifien19

full member

Activity: 472

Merit: 101

Nothing is sure , traders from one side are afraid that bitcoin price goes down , and from the other side , it's something like strategy to avoid loosing what they earned
You wish make profit but "not to loose capital " is more prior

Yeshualive

full member

Activity: 182

Merit: 120

Quote from: Lipe490 on October 16, 2017, 12:54:24 PM

For beginners with bitcoin it's very difficult to hold on and not sell, mainly because the bitcoin has a lot of volatility that can range from 100 usd to 500 usd in a matter of minutes. It is even understandable why people sell bitcoins quickly and then feel worthless because they have not held back a bit. Fear takes over and you think you will never recover from that fall in price again. But if we learn one thing with bitcoin, it always rewards us if we are patient. Whoever is buying right now can think it's too late to get in the party. But better later than never.

I agree with you Lipe490, I was like that too. It would be a good strategy, to sell in the fall and buy cheaper yet, but when they see their money go down because they do not wait for the right moment to sell or they did not buy when the time was right, they say: It sucks, Bitcoin is a fraud, not a good investment. Unfortunately, they do not know what they do, and for them, the solution is to wait for the whole system to fail, to feel good and to be able to say: did not you say it was fraud?
They are not prepared people, just ambitious, and their ambition is their ruin, and they want everyone to be ruined to feel more comfortable with their egos.

warrior333

sr. member

Activity: 406

Merit: 253

Reason for selling bitcoins is very simple. Need Fiat. I also there are times when I need the money. At this point I don't think about the price of bitcoin. I sell exactly as many coins as I need at that moment. For example, I can say that if you didn't have anything to buy food you will be selling bitcoin at $ 4,000 or wait a few months until bitcoin will be worth $ 5,000?

BIG Tyrese

member

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A lot of people will bite off more than they can chew and then get inpatient and just take the loss because they need to money for rent etc.

DannyHamilton

legendary

Activity: 3472

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Quote from: unknown_36 on October 16, 2017, 11:47:03 AM

I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?

You might need to wait MUCH more than a month.

In December of 2013 the exchange rate got as high as $1290 per bitcoin. Then it "dropped drastically". It did not get back up to $1290 for 40 months!

After 2 years of not getting back up to the previous high, would you still believe that it "eventually" would? It's easy to say that looking back at the past now, because you know what it did. But when you are looking forward at the future, things don't always feel so certain.

What would you do if you bought more bitcoin than you could afford to lose, and needed that money during those 3 years? You might have to sell at a loss to pay some bills or debts.

Lipe490

sr. member

Activity: 602

Merit: 263

For beginners with bitcoin it's very difficult to hold on and not sell, mainly because the bitcoin has a lot of volatility that can range from 100 usd to 500 usd in a matter of minutes. It is even understandable why people sell bitcoins quickly and then feel worthless because they have not held back a bit. Fear takes over and you think you will never recover from that fall in price again. But if we learn one thing with bitcoin, it always rewards us if we are patient. Whoever is buying right now can think it's too late to get in the party. But better later than never.

kangjiasg

full member

Activity: 180

Merit: 101

Exclusive Member

Quote from: Wa Da Fak on October 16, 2017, 12:49:26 PM

Quote from: unknown_36 on October 16, 2017, 11:47:03 AM

I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?

Im quite also new here in bitcoin right now i do buy bitcoin if the price drop and sell it when it goes up. No one knows when it will rise i just follow the chain of bitcoin for me when you invest to bitcoin its like you gamble your money because you dont know what happen next you are lucky if you invest on the right time. Advise just follow your instinct and pray that you do the right thing 😅.

For me I do about the same as well. To buy on dips or crash and usually I will decide to sell some to secure some profits. Learnt lesson when I did not learn to sell for profits in the past

Wa Da Fak

member

Activity: 98

Merit: 10

Tell me paid campaign please

Quote from: unknown_36 on October 16, 2017, 11:47:03 AM

I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?

Im quite also new here in bitcoin right now i do buy bitcoin if the price drop and sell it when it goes up. No one knows when it will rise i just follow the chain of bitcoin for me when you invest to bitcoin its like you gamble your money because you dont know what happen next you are lucky if you invest on the right time. Advise just follow your instinct and pray that you do the right thing 😅.

jaerngekess

newbie

Activity: 2

Merit: 0

at least you will not feel guilty if you really need it. but it would be very futile if you sell it when the price is low if only used for the hall that is not important

TryNinja

legendary

Activity: 2758

Merit: 6830

You may be right. The truth is that no one know for sure if Bitcoin will keep rising forever. But besides the panic sellers that won't see anything other the "iminent fall", there are those that sell low to buy even lower and increase their profit. If we are in a high and the there is a correction coming soon, you may sell when there is a 5% drop to rebuy after another 10% drop; It's a valid strategy if you know what you are doing.

unknown_36

newbie

Activity: 2

Merit: 0

I'm a week into this whole bitcoin thing so be easy on me. I wonder why you would ever sell a BTC ... For example: you buy 100 dollars worth of BTC but the price drops drastically. Why would you sell it when its that low? You KNOW it's going to go up again. You could wait a month (for example), the price will be up again. Or am i totally wrong here?

Topic: Selling Bitcoin - page 16. (Read 3048 times)