Should I sell bitcoin now? - page 6.

plvbob0070

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Quote from: samcrypto on April 12, 2020, 10:07:55 AM

Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?
Seems like everybody are trying their best to decrease the price, it might be better to move with the herd?

No one knows, those are just the predictions and they are also not sure about that.

Exactly, why would you believe in such prediction when there's only a small chance that it will happen, and I'm sure you are also aware that bitcoin is unpredictable and volatile so anytime the price might get pump or dump. I guess I will hold my bitcoin no matter what happens unless I badly need the money like what's happening right now which we have been facing a huge crisis. Just because a well-known person said it, you will just instantly believe that. And if you going to use their prediction/opinion as your basis to sell, I guess it's not a good idea and always comes up with your own analysis so you will not regret your decision. Seems most of the previous reply here has the same answer to the question which is HOLD and probably, this is the only option right now if you don't want to have any regrets. And, for the better of having good profit, I rather risk my bitcoin on holding than just selling it because of such prediction/s.

If ever bitcoin goes dump, just continue and keep on holding because I swear you will not regret holding your bitcoin.

Dart18

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The big question.

Are you really willing to risk that much for a better profit or for a larger regret?
Do you have the guys to do it.

Those are the questions I always I ask myself whenever I see this kind of hype/FUD that is lurking all over social media or even this forum.
I don't have much of a courage to do it. So I always stay on the safe spot.
The safe spot for me is to just hold it until I feel like really selling it.

Eclipse26

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The market value of cryptoa not only Bitcoin, at this moment is probably caused by the pandemic. Not totally a direct effect but more likely "an effect of an effect". What I mean is that, Corona virus has nothing much of an effect but how it affected people as well as the economy of different countries might have triggered a downfall. Companies, and establishments are forced to stop operating. People are pulling their investments including cryptoinvestment to prioritize what would they need in daily living given that in some places there is now shortage of services and goods. To make it simple, many people have sold their holdings already but it is not their fault to choose survival over profit that would be waited without assurance of until when.

So if you are not that affected by the pandemic, and could still afford not pulling your investment, be thankful and do not do the same thing just because you are afraid to lose money as the market value us falling.

exstasie

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Quote from: buwaytress on April 12, 2020, 09:44:09 AM

@exstasie: Referencing your separate post on sentiment, isn't it strange the last 2 or 3 coverage pieces about Arthur Hayes have been strangely bearish in tone -- when the guy has been one hell of a permabull? So strange, yet so typical, how sentiment can sometimes be derived via an out-of-context quote, huh?

A lot of people don't understand that markets move as cycles with cycles within cycles. You could be short term bullish, mid-term bearish, and long term bullish all at the same time. Cointelegraph and the others ignore all that and just feed us the most extreme headline they can.

Myself, I somewhat share Arthur's sentiment, though I have doubts BTCUSD can reach the levels of panic seen last month. In fact I think both markets may eventually make higher lows (not lower lows) before a sustained recovery. I think he's jumping the gun with his $20K by year end call, but I do think we are still on track for a very bullish 2021, as crazy as that sounds: https://bitcointalksearch.org/topic/m.54020305

South Park

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Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?
Seems like everybody are trying their best to decrease the price, it might be better to move with the herd?

The first thing that comes to my mind when I read your comment is that you need to stop listening to other people and develop your own strategy and determine what you want to be, so do you want to be an investor or a trader? If it is the former then you need to hold your coins and not sell them unless bitcoin hits your target price, but if you want to be a trader and get advantage of the fluctuations in the price then you need to read many books about the subject, develop a profitable strategy and only then decide whether to keep holding your bitcoins a little bit more or sell them before the price goes down.

samcrypto

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Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?
Seems like everybody are trying their best to decrease the price, it might be better to move with the herd?

No one knows, those are just the predictions and they are also not sure about that. You have to know when to sell and when not to panic, those people maybe just creating a panic so they can buy cheaper bitcoin. If bitcoin becomes cheaper again then that’s fine, we have to buy on that level and wait again for the bull run.

buwaytress

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@exstasie: Referencing your separate post on sentiment, isn't it strange the last 2 or 3 coverage pieces about Arthur Hayes have been strangely bearish in tone -- when the guy has been one hell of a permabull? So strange, yet so typical, how sentiment can sometimes be derived via an out-of-context quote, huh?

Quote from: DevilSlayer on April 11, 2020, 10:48:02 PM

What are your trading objectives after?

Gee, I wonder what a guy's objectives are for trading? Such a mystery isn't it?

Smitty Werben Man Jensen

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Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?
Seems like everybody are trying their best to decrease the price, it might be better to move with the herd?

if you have a lot of funds or capital, maybe it's better to prepare 50% for the worst case scenario, which is Bitcoin goes to $ 3000, Bitmex CEO said that because as a trader, traders don't trade using 100% capital, that's an important lesson, hopefully the worst case scenario does not happen

arwin100

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Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?
Seems like everybody are trying their best to decrease the price, it might be better to move with the herd?

Do you even believe on them? remember they are businessman and not a predictor so might they release that tweet just to upset people and possibly dump the price so that they can buy at the lower cost, remember we are heading at halving and its nearly happening so expect more fuds comes just to confuse people for their personal gain.

But if you want to secure sell it now and see on what happen in future.

Febo

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Quote from: 2alt on April 11, 2020, 08:31:47 AM

Quote from: Febo on April 11, 2020, 07:33:08 AM

Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?
Seems like everybody are trying their best to decrease the price, it might be better to move with the herd?

I dont get where you see that everyone predicting that? Dow Jones made more then 10% this week. That is like Bitcoin would make 50%. Bitcoin is behind all that stock optimism. If stock market is not wrong ( it could be) then Bitcoin will follow.

The feds are printing money non stop and pumping the market is why.

Monday - 60 bill
Tuesday - 60 billion
Wednesday 60 billion
Thursday - 2.3 TRILLION to hide unemployment.

Printing money is only bullish for Bitcoin. OP claims that everyone is bearish on Bitcoin. I am asking him who are those bearish people and why are they bearish.

2alt

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To add as I really didnt answer the question.

If you are worried to that level, you have way too much invested in BTC. Cash is king right now. 10% of my total net worth is invested into BTC. So not too worried. That percentage will go up or down depending on what BTC does.

But don't ever invest so much into BTC / Stocks that you are worried. Figure how much you want to invest, put it on your nano ledger and just forget about it.

We are in the infancy of crypto. In 10 years BTC may be worth 100K or in 10 years a completely new system comes out and BTC is worth $0. Consider that and invest accordingly.

None of this applies to traders. Putting 50% of your total wealth into BTC to trade is fine. You can dump it at your stop loss. However I would not recommend my worst enemy to invest 50% of their total wealth into BTC cold storage. (Think about all the silly people that invested everything, took loans, refinancing their homes, etc in 2016. They all got burned immensely hard).

Remember cash is king....for now.

Quidat

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Quote from: jhonjhon on April 12, 2020, 05:29:41 AM

Maybe you should...but me, I have to hold and buy more bitcoin if that will happen.
I have to watch closely how the trend moves. We're not saying that there is no possibility that we drop $3k as it happens before but we all be wondering and might not be affected by this because we are thinking much for the coming halving and we are more hopeful that we make pumps rather than dumps.

Well, that is the only prediction, it is up to us if we believe or not.

On a very unpredictable market it cant really be avoided to have second thoughts or hesitations when we do tried to invest or even selling.
Nothing is assured that we would pump out or would dump on because it had proven for how many times that the market doesnt move
correlated from any events that do happen around.There might be some good sentiments but doesnt guaranteed out that it will happen.
Profits are only to those who do risk and do able to make out their positions on the right time.

jhonjhon

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Maybe you should...but me, I have to hold and buy more bitcoin if that will happen.
I have to watch closely how the trend moves. We're not saying that there is no possibility that we drop $3k as it happens before but we all be wondering and might not be affected by this because we are thinking much for the coming halving and we are more hopeful that we make pumps rather than dumps.

Well, that is the only prediction, it is up to us if we believe or not.

Lucius

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Quote from: superving on April 11, 2020, 08:16:13 AM

if someone told you that bitcoin will fall @$3000 is totally a big lie. They want to create panic and its thier opportunity to full thier bags with bitcoin, after a month or two after the dump they will say bitcoin will reach 11,000..

Why do you think this is not possible? Exactly a month ago BTC drop from $8000 to $4000 in one day, in which BitMEX played a major role with forced liquidation of $700 million in just 15 minutes. What in my opinion triggered the avalanche is the declaration of a pandemic and the sharp fall in oil prices that followed.

The pandemic cannot be declared again, the oil price is at record lows, the stock market is relatively stable, so the question remains what should happen again to test the $4000 level? BitMEX CEO is saying that stock market will go down again, and that is just speculation - I believe there is a chance that this will happen, because it all depends on how badly the virus will hit the USA, and at moment the situation is not looking good.

Believing or not believing someone is a matter of choice, it is important to be prepared for anything, and this includes a decrease in the price of BTC.

LogitechMouse

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If we say yes sell it now, are you willing to do it??
If we say don't sell it now and buy at this moment are you willing to do it??
If we say that don't sell or buy either, are you willing to do it??

My point is that, why are you asking here where it is your own money that is at stake?? It is your own money and you must be the one to decide because we can't give any accurate answer to your question. Some might say here that you must sell it right now. Some saying you must hold it because it will go higher more. In the end it is your decision so don't ask things like this.

exstasie

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Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.

Most of my feed has actually been bullish. Prior to this little dip off the $7,400s they were all expecting the upper $8,000s or $9,000s. Many still are.

Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Bitmex CEO is twitting he believes bitcoin could go even as low as 2100, so would it be better to sell my bitcoin now and buy for 50% cheaper?

I think that was this guy, who was referenced in a Cointelegraph article about Arthur Hayes: https://twitter.com/CryptoCapo_/status/1247070294621257728

This is what Arthur actually said. Short term possibilities aside, he's very bullish on BTC:

Quote

Could the price retest $3,000? Absolutely. As the SPX rolls over and tests 2,000 expect all asset classes to puke again. As violent as the Q1 collapse in asset values was, we have almost 100 years of imbalances to unwind the ancien régime. My end of 2020 price target remains $20,000.

Everyone knows the shift is upon us, that is why central bankers and politicians will throw all of their tools at this problem. And I will reiterate, that is inflationary because more fiat money will chase a flat to declining supply of real goods and labour. There are only two things to own during the transition to whatever the new system is, and that is gold and bitcoin.

If you think I’m full of shit, or a stark-raving Cassandra, remember what you believed in pre and post-COVID. Can your mental model revert back to January 2020? I will take my inflation adjusted pocket rockets (gold and bitcoin), and call your Bretton Woods seven two off suit. All in, mother fuckers.

adaseb

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Its pretty crazy how many people believe what Arthur Hayes is predicting about the future price of BTC and they basically blindly follow him. From what I recall he made like 3 predictions in the past.

First one was during 2018 when he said it would go to like $50K or some crazy figure. Then at the end of 2018 or beginning of 2019, when BTC bottomed he said something like "winter is not over yet" meaning there was more bear market to come.

He sort of got his last prediction correct, was sometime after April 2019, where he predicted something like $10K. Which actually happened a few months later.

inanilujimi

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the market is unpredictable, who would have thought BTC reached $ 4k last month ??
and now it's around $ 6-7k.
no one can answer this question very accurately, all are just predictions but what I know if there is a sharp price drop is the right time to buy.

Findingnemo

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Quote from: Tipstar on April 11, 2020, 06:39:38 AM

Everyone is telling that bitcoin is going to 3K. Every news and notifications points that the trend is going towards 3K.
Bitmex CEO is twitting he believes bitcoin could go even as low as 2100,

If someone saying sell your bitcoin then it is the real best time to buy bitcoins. Cool

They have no reason to tell you about price decrease even if they know what will happen in the future so all they are doing it for their personal benefits.

DevilSlayer

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What are your trading objectives after? If you will answer that then you will get the information about when is the right time for you to sell. Trade is objective is all about your goal and your strategy, did you buy because you want to hold and to wait the next bull run or did you buy because you want to do range trade. If you want to wait the next bullish run then it is better if you hold but if your trade objective is to range trade where you are gonna sell it in resistance than maybe you should sell now because the price of the bitcoin bounced when it hit its major resistance.

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