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Kemarit

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

Its a wise decision on your end. 10% of your stash should make you a lot of profit and there is should be no regrets. But I disagree that we will see $5000-$10000 in the next few days, maybe at the end of the year or early 2018 when everything went on our way. The price didn't went to sub $1500, and it has recovered to $2500 now. But you cashing out very good decision. So we still don't know what the future holds, but at least you still have some bitcoin in your wallet (store of value).

ktabb

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

I agree with this except that I don't think there is any way we will see $5,000-$10,000 in the next few days. Maybe $5,000 in a few weeks or a month, but not a few days. You are right though, bitcoin will be down around $1200-$1500 soon enough. It is very overvalued right now.

1Referee

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100).

Smart decision, and respect that you have been holding your sub $100 coins till where the price stands right now.

Quote from: john_doe on June 18, 2017, 04:39:17 PM

We might see $5000 or $10000 in the next few days

Typo, right? It should be in the next few years, I assume.

Quote from: john_doe on June 18, 2017, 04:39:17 PM

but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more.

Not entirely impossible as no one knows how things will be before/on/just after 1st of August. One thing is almost certain, and that's that it will be an exciting time for traders. If the price happens to tank real hard, then the best option is to increase your stash by buying at discount levels.

Quote from: john_doe on June 18, 2017, 04:39:17 PM

What do you think of my decision?

Nothing wrong with it.

jubalix

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Quote from: Kakmakr on June 19, 2017, 01:50:35 AM

Quote from: kwukduck on June 18, 2017, 05:37:09 PM

Smart move. We're clearly in a strong downward trend and with Ethereum taking over Bitcoin we are sure to see a strong crash soon.
I've been warning people for years that we had to fix Bitcoin before it was too late. Nothing has been fixed and surprise, look what happened, bitcoin is being overrun by superior technologies.

The bitcoin religious will soon feel the pain of ignoring critical flaws that should have been fixed years ago in order to make time and space for hype and greed for fiat. The scheme is collapsing!

Kwack kwack Kwack... the same old song from the biggest scammer. Now that we know you are invested in Ethereum, it makes a lot more sense. You were bad mouthing Bitcoin to promote Ethereum and Ethereum is the biggest scam of all time. Bitcoin had no pre-mine or pre-token sale like Ethereum. Satoshi did not pay anyone from the sale of the pre-mined tokens to develop his platform. Bitcoin is not centrally-controlled by a foundation that got rich from the proceeds of these pre-token sales. It is estimated that Vitalik got the Lion share of these pre-mined coins.

WARNING - Users like kwukduck, use this forum to spread FUD about Bitcoin and promotes scams like Ethereum. ^grrrrrrr^

gotta say you sound a little bit fundamentalist...and blinkered

bajing

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Quote from: maku on June 19, 2017, 03:38:18 AM

Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

It is a good decision that you sold only 10% of your stash. If you would sell 100% that would be a bad move.
As you said there is a very high chance that we will see $10000 in the future, but I don't expect that happen in the few next days.
I am sure that after next halving price of Bitcoin will be around $15000-$2000 - of course if nothing crazy would happen in the meantime, for example scaling upgrade fail.

Yes I agree with you, the decision he took was very good. only sold 10% of his stash because he was not sure of bubbles he might think that the price of bitcoin is now quite high and I'm pretty sure there are many who agree with me. But 10% is very little to invest why he does not sold 30-40% of his stash because if the bubble really comes he will get a good profits and if the dump comes he can cover by selling the remaining of his stash.

maku

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

It is a good decision that you sold only 10% of your stash. If you would sell 100% that would be a bad move.
As you said there is a very high chance that we will see $10000 in the future, but I don't expect that happen in the few next days.
I am sure that after next halving price of Bitcoin will be around $15000-$2000 - of course if nothing crazy would happen in the meantime, for example scaling upgrade fail.

BTCLovingDude

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BTC to the moon is inevitable...

when the user kwukduck comes here and agrees with you that should be a warning to you that you must be doing something wrong because the quacker wanker is known to always be against the market movement direction.

but as others have said it was a good idea to take some profit out. i think all the good investors have done it. you should never go all-in in both investing and also getting out.

Creepings

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

Putting the profit first is the best thing to do when you are a investor. It doesn't matter what happen after what you've done, what matters is that you get a profit from your patience and hard work. I did sold some of my coins because of my needs, I think if I don't really need it I will not buy it, I will continue to hold my coins as long as I am contented to ny profit.

Denker

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

Taking some profits isn't bad. 10% of a certain BTC stash can be quite some money.
In terms of the price and when the bubble pops, by the way you must be speaking about altcoin bubble as Bitcoin is not in a bubble yet, nobody knows the time it will happen. Markets can stay irrational for a very long time.

AjithBtc

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Nothing wrong, because with the selling you've made a very big profit as the price difference between the buying price and the selling price is very high. Also your thought too seems realistic, because everything happening is not certain. If the price drops can buy more, else can hold or sell at a higher price.

Kakmakr

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Quote from: kwukduck on June 18, 2017, 05:37:09 PM

Smart move. We're clearly in a strong downward trend and with Ethereum taking over Bitcoin we are sure to see a strong crash soon.
I've been warning people for years that we had to fix Bitcoin before it was too late. Nothing has been fixed and surprise, look what happened, bitcoin is being overrun by superior technologies.

The bitcoin religious will soon feel the pain of ignoring critical flaws that should have been fixed years ago in order to make time and space for hype and greed for fiat. The scheme is collapsing!

Kwack kwack Kwack... the same old song from the biggest scammer. Now that we know you are invested in Ethereum, it makes a lot more sense. You were bad mouthing Bitcoin to promote Ethereum and Ethereum is the biggest scam of all time. Bitcoin had no pre-mine or pre-token sale like Ethereum. Satoshi did not pay anyone from the sale of the pre-mined tokens to develop his platform. Bitcoin is not centrally-controlled by a foundation that got rich from the proceeds of these pre-token sales. It is estimated that Vitalik got the Lion share of these pre-mined coins.

WARNING - Users like kwukduck, use this forum to spread FUD about Bitcoin and promotes scams like Ethereum. ^grrrrrrr^

timerland

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

You really have some balls to hold from $100 straight to $2500 right now.

That's a lot of tough market conditions that you have ridden through, and i commend you for having so much trust in bitcoin to actually hold for this long. Even myself haven't got the patience nor the courage to do this.

I think that your decision was a smart one. I don't think that we have seen the peak of this though, although the correction came and everyone started panicking. Wouldn't be surprised if price recovered to $3000+. Selling 10% sort of gets you the opportunity to sell more if bitcoin was to go up again.

I do think that BTC prices are probably going to drop drastically after this bubble does pop, but that would present a very interesting investment opportunity that most people probably don't wanna miss.

btcdevil

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Quote from: kwukduck on June 18, 2017, 05:37:09 PM

Smart move. We're clearly in a strong downward trend and with Ethereum taking over Bitcoin we are sure to see a strong crash soon.
I've been warning people for years that we had to fix Bitcoin before it was too late. Nothing has been fixed and surprise, look what happened, bitcoin is being overrun by superior technologies.

The bitcoin religious will soon feel the pain of ignoring critical flaws that should have been fixed years ago in order to make time and space for hype and greed for fiat. The scheme is collapsing!

You are telling that is true but i dont think that for this problem any other coin will take over bitcoin because once the problem is solved then you will see that how this other altcoins are going down like a blood bath and same time bitcoin value will also increase very soon.

OP- Profit booking is always good because no one can buy in bottom and sell in upward, so when ever you are felling to sell just go for it dont see the price.

tokeweed

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Quote from: Yogafan00000 on June 18, 2017, 05:02:35 PM

Taking profit is never a mistake.

Definitely this. Enjoy your money. You're up 25 times the amount you bought so riding the rest for more profits plus getting some money out is always a great feeling. Like the say in the gambling world, 'Money won is twice as sweet as money earned'.

Now go buy your wife or girlfriend something nice. Wink

Herbert2020

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100).

it was a good decision and i have been doing the same all along. you sell some after a big rise and then transfer the profit out to your bank or something and then invest the principle back in again in a dip.

Quote

We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year,

these two statements contradict each other! and both of them are wrong.

first the rise to $5000-$10000 in only a few days is simple impossible. bitcoin is not a small shitcoin with $100 volume to be pumped like that.

also about the drop down to $1500 i have to say you have to way of being sure about it. you are simply making a guess and saying you are sure. there is nothing indicating it may or may not happen. there are some possibilities but the chances of all of them are very low at this point. this may or may not change in the future. that is all we can say.

Ken1022

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10% seems sound. I wish I did what you did when I was a few months newer to Bitcoin. The strategy is so simple, but in alludes most newbies like me.

Hodling and selling at computed intervals is the safest course of action, since you are going in between the extremes of a downward trend and an upward trend. You won't suffer so much in case of a long term downtrend since you have sold certain amounts, though you won't maximizie your profits in case it were a clear long term uptrend. So it's clearly a median route to take per se.

Swapping out some possible risk in favor for probably smaller but sure profits is never a "wrong" thing to do.

leowonderful

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Bitcoin FTW!

There's no wrong choice, take other people's advice and mix it with your own to create something better. I personally prefer to hold as long as possible but i also spend sometimes. Feels good to know your profit is real and tangible. Just make sure you buy something you will be happy with even if the price rises to 5000 per coin or beyond and you will be fine.

Pearls Before Swine

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Brother, that was a smart move. I get that the hardcore contingent would tell you never to sell, but you can't go wrong taking a profit. It's a damn good idea once in a while and I'm pretty sure most traders would tell you the same. Buy a car, buy some beer. Use your winnings. That's what they're there for, right?

sunsilk

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

Profit is profit no matter how much the price of bitcoin will increase for the upcoming months or years to come, it will always be a good move.

And since you have only sold 10% just like me I sold at $2,600 I'm not regretting that I did.

As we believe that the price will soon increase after this correction, someone here knows if we are now on wave 3?

alyssa85

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Quote from: john_doe on June 18, 2017, 04:39:17 PM

I sold about 10% of my stash. I'm not sure whether the bubble has burst or not, but I decided I'll take some profit (bought at sub $100). We might see $5000 or $10000 in the next few days, but I'm pretty sure the price will go down to $1500 (or even lower) at some point in the next few months or next year, and that's when I'll buy more. If that doesn't happen then it's fine, I'll invest in something else.

What do you think of my decision?

I think you have done the right thing. Nobody ever got poor from taking profits!

P.S. Congrats at buying at sub $100 - you've made a splendid return on your money!

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