Topic: Taking profits but don't be afraid! - page 4. (Read 1013 times)

Totally agree, i personally have a cold wallet for hodling only, i don't intend to touch for years to come, at the same time i know i will only live for x amount of time before i won't be able to make use of neither fiat nor btc, this exact reason is why i trade btc for fiat when the chance presents itself.

I do believe in it as a tool for the future how exactly everything Will work out is still a question, in the mean time its normal people buying and selling making and losing FIAT, but @ the same time many of those using people also start to use BTC for transaction between them self and other BTC users, more of more people Will use it directly as money as well..... I know I do.

Of-course BTC is very young and just started with the amazing idea that it is..... slowely more and more Will get it and use it.... older people with 0-interest Will make place for younger on this earth and the younger are more interested in tech and sh*t.

I think as early HODLers we Will need to HODL on 50% of our stashes minimum for the real long term!
No greed for FIAT when not needed.

at some point you need to spend that BTC , let's face it, most people want to buy BTC for cheap to sell it for more fiat and that's all about it, in fact it's safe to assume that more than 90% of bitcoin investors think alike, buy low - sell high to make fiat. BTC is being treated like a cow that everybody wants to milk, those who are in for the long run and believe in the technology are very rare.

You don't take profits by selling Bitcoin. You are taking your profits by buying Bitcoin.

Every dip is a chance to take profits by selling your dollars or other fiat currencies. Every time you invest your bitcoins by using them to buy dollars, you are risking them.

That of course is assuming any intelligent person would rather hold Bitcoin than mere fiat currencies.

@Whaleagent


1- learn how use the forum, qouting a whole post like that is annoying.

2- go open the charts

''can very likely be a major correction of the overall bear market'' Overall bear market by what standards? Overall it's a bull market and it has always been, Bitcoin has been bullish since the beginning and the 1 year chart has always shown this, so no, it's not a ''correction''. You don't switch from downtrends on all timeframes to uptrends in all but the monthly chart and it's getting there as well.

There is a whole different way of looking at last rally, it could simply be a major correction for the massive drop, BTC entered a bear market and lasted for about a year and half, it lost about 85% of it's value from ATH, recovering 30% from the 85% drop can very likely be a major correction of the overall bear market, or of cource it could be the beginning of the rally, you can't ignore either one.

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OP ,one should always look at every possibility out there, you said  "I tried to refresh my wallet" which indicates you are not a day trader, so you should look at the market from a different perspective, as hodler you should always buy every dip and wait to sell for a price that is higher than the last known ATH , while for a trader it makes sense to sell even at 4k for to re-buy at 3.8k for an instance.

I sold at 5.6-6k aread and got stopped on all of my short positions, entered long after that and took profit at 6.8k , bought again at 7k and sold at 7.5k , bought again at 7.6.k and sold for a loss at 7.4k.

Moral of story, if you are a day trader , you should ALWAYS take profits, big or small, does not matter, and you should always exit with a loss if the market goes against your prediction, if however you don't day trade, then simply stop watching the charts/your wallet and come back after 2-3 years.

Maybe it's taking some breath for another pump? If the correction has really finished, it's more good news for bitcoin investors. As the price rised so fast, I thought there would be a deeper correction, if that isn't really the case, bitcoin can overcome the expectations for this year of 2019.
And I think it's possible, considering all the new adopters btc enchanted through Flexa - third party payment service (which brought whole foods, major retailers shops to crypto); and Fidelity - Funds management firm.

The correction is rather low considering how the price pumped in the past few weeks. This is expected and is just normal price movement for bitcoin. The support is strong in 7000 so I am also encouraged to buy more at this level.

Profit taking when there is gain is just a normal thing and we cant really stop people on not to sell since we do have our own set sell orders without minding
too much on upcoming Bullish or adoption news which would make more the price increase if its passed but somehow we can utilize this volatility to reap up profits.

What you are talking about is Bitcoin being undervalued compared to its long term price potential, but that's the wrong way to look at it because today's price is the only metric that matters.

Another thing is that using the term undervalued in Bitcoin is quite a subjective ballpark guess because aside from the base cost of mining, there is no way to determine Bitcoin's "fair" or "real" value.

The best possible value metric in my book is what people want to pay for a coin today, and as you know, it can pump tomorrow and tank the day after, so the value is subject to change every single day.

If you truly believe that Bitcoin is currently undervalued, then buy as many coins as possible asap and sit on them.

I still think bitcoin is still able to increase, and because of that I still hold it with the aim of selling at a higher price, still thinking positively that bitcoin will soon reach 10k.

I don't think and hope it will decline too much, most of the chances are that some holders whose tired of holding sells at this week pump and didn't mind the more good news that are about to happen soon in BAKKT.

Your thoughts are correct and right, you don't need takun when someone takes action when doing something, like investing in bitcoin.
If you see it now, the price of bitcoin is what you expected, it will definitely make you smile and eliminate it, to your anxiety.

Yeah if you see the recent graph of Bitcoins, then you gonna feel happy that Bitcoin was increasing.
But compare to last 24 hours,  the price suddenly went down.
As far the OP has suggested, i am completely agree with him.
Whenever we are taking profits, we don't have any problems, but when the price went down, all starts complaining.
I would rather say the price was affected because of the trade volume.
Nevertheless, i would wish Bitcoin should increase more.

We can't say for certain what's the real value of bitcoin. It's based on supply and demand and obviously, the price will continue to change no matter what.

Of course we are all speculation and wanted to see the price goes on another mooning or at least hit another all-time-high so that we can take out profits and then wait for the right time to re-invest again.

you mean $4000 is the bitcoin value ?  I did not not agree with that views and I see bitcoin at the current price of $7350 as been undervalued to me. I will be happy to see bitcoin above $50, 000 not becouse I wanted to sell at that price but because that is the relatively price that we can said "that is bitcoin value"!

Bitcoin still on the correction but this day, we see that the price was trying to increase back. I guess that tomorrow will be the new day for bitcoin to increase again and I hope that we will see the new price of bitcoin at the high price and I am sure that bitcoin will pass $8k. But unfortunately, we are still at $7335, and we need to be patient until the price starts to increase.

If you really analyse the price pump and dump you did not say that because the price fluctuation is possible on suddenly and it will going to dump at 500 USD so some big investor is sell the huge Bitcoin and it will not affect the future market so again it will going moon. This year surely Bitcoin raise again and we are all see the positive pump in recent market and future also continue in crypto market.

We should realize that, when prices rise very high in a few days, then stop rising, it is a signal that prices will soon fall. because of the correction or many people sell at that price. But I think the price falls only a few percent, Yeah $1000 it's quite a lot, but I don't think the price will go back to $5k anymore. So don't be afraid, the price will definitely go up again.