Topic: What will you do when Bitcoin reach$20k? - page 3. (Read 970 times)

For me, the market is really interesting even before this happened.

This year when the world is fearing the virus, the price of Bitcoin rose up to $10K, it may go down and we don't know if that is because of the pandemic or not but all we know is that the price is now at the run of maybe breaking another ATH. I will be waiting for some time but if the time is right, I will be doing the same and that also goes for other investors as well.

When bitcoin will touch $20k . The cryptomarket will very more interested. More people or even investors will see this space. Then, altcoins will also follow it surely.
I have plan to sell a half of my altcoins portofolio to take some profits.

I will sell half of my portfolio off if the price reaches $20K and continue to hodl the other half while waiting for another pump irrespective of the price behavior bullish or bearish all I need to do is to wait patiently the mistake of not selling some in the last ATH in 2017 had taught a lot of us lessons while some hodlers luckly sold off some of their coins then thus making a massive profits, bitcoin hodling is for strong-minded people not for feeble-minded ones who fumbles and sell off in any massive dump in it price.

quick method are b.s but earning small slow profit is legit . its your capacity to risk small and you dont need to compare your self to the big guys .

 im just like you anyway . we are only small players and its hard for us to answer the question of the op because as a small player we wont wait for the price to reach 20k before we start selling our coins . 20k is already a dream amount for us and many things pop on our mind if what are we going to do , make it more harder to decide

I always set myself a price to get out from, it is not that much most of the time but it is a cool amount that would get me to actually profit a bit and I could just try to get back in later when the price somehow bottoms once again eventually. It is not a quick method, you do not trade once every month, usually it is few times a year, but at the end of the day I do end up profiting, even if it is not a major profit and if it is very slow it is still a profit and I am fine with that.

I just wait for price to go down and wait for it to go up and that is it, it may not be as profitable as day trading but a guaranteed 50% profit a year is a lot better than risking all my money for potentially having 500% increase, it could end up losing me all my money and I rather not have that at all.

It depends on many factors. If when bitcoin reaches $ 20k and is accepted as a currency in many countries, it is certain that the price of bitcoin will continue to rise, then I will hold my bitcoin and wait for the next price level.
If bitcoin goes up to $ 20k and it's still just as an investment as it is, then I would sell 50% of my bitcoins.

I don't see the need to do anything when bitcoin reaches once again that price, and my reasoning is that once we get to that price there are only two things that can happen, people will panic thinking that a crash coming and that will make the price to go down or the price will keep going up and this will generate confidence in investors and will show them that this time things will be different and we will see a crazy price growth for bitcoin and as you may guess I want to be holding my coins when that happens.

If we're going to be honest... then probably nothing, because I'm not confident enough in timing the market to either buy or sell at that particular price.

But if I was the kind of person to bet on this stuff, I think I'd consider buying a straddle option.

Given the history, I somehow doubt the price would stay at $20k for long - judging by past behavior of this market, I'd be more likely to expect that either there'd be a new ATH and bull would officially be back in season, or it'd "fail to break through" and a bunch of old money would push the price down by realizing their gains.

If I could find one at a reasonable price, a straddle seems like the right tool to make a bet on that outcome.

This is a more interesting question.

I think it's a good idea; having a plan makes it easier to keep a level head in a volatile market like this.
But I think having a price in mind is not enough - deciding how much you will sell at that price is just as important.

I don't think it makes sense to have a price to sell 100% of your BTC at, if you are not here purely for trading. I used to post "current money or bust" a lot on these forums. These days, I'm less confident that BTC is shaped properly to become "current money" (i.e., something that circulates like cash and can be used as such), but the point still holds that nobody really knows what the future of this thing will be, so holding back a little of your stash "just in case" seems smart.

So barring emergencies, a better strategy is to say "at these prices, I'll sell these %s of my BTC", picking numbers such that it'll be "worth it" in your real life. For example, an amount that will let you FIRE without relying on future BTC gains. Or to put a down payment on a house, or so forth. Something concrete that the money will do to improve your life, above and beyond "well I guess I have a lot of USD now".

But that also means the amount isn't necessarily static! You'll have to adjust them if your IRL needs change, or the amounts necessary increase/decrease. And those adjustments must be kept independent of whatever the BTC market is doing; the point of a financial plan is to keep you from getting swept up in the market's emotions and doing something irrational.

That's my take, anyway.

I don't have a level on mind on which I'd sell. 20 thousand would be an important level for me at which I'd probably sell just a bit to have fun and drink to Bitcoin going much higher. I wouldn't sell 50% or 100% of my coins because it's my safe off-grid investment.

i'm sure it's different for each of us. If you by any chance take an important step in life like get married or have a child you could need the money and sell. Those of us who hold for retirement will not.

I will do nothing when Bitcoin reach $20000. I do know that a lot of people will panic after Bitcoin will reach $20000 and then retrace below $20000 again.

When bitcoin price reaches that price, it could something more to come and that will be the reason why I still commit to hold rather than to sell at that moment. Most of us are about to miss that price last 2017 but for sure people won't lose that opportunity again if ever it happens. But I don't put into the idea that I keep holding still then even though it keeps moving high, of course, I have to sell some of my holdings.

Exactly, not we sure everything even in a few hours. If we have that chance, it is better to grab it but we should not also be in regrets if the price will still move higher.

You can still hold your bitcoin until the price can increase and touch more than $20k, at least the price should be at $25k-$30k, so you can sell it at that price. I am sure that you can make a lot of money if you can sell at that price, but you need to earn more bitcoin from now on to join the party in the future. While we don't know when that will happen, we can keep trying to earn more bitcoin, and we can have more time to save more bitcoin. I am sure you can also help your relatives and neighbors if you can make a big profit.

For sure, it can be decided once you already seeing the actual price, the hypes of 2017 makes a lots of people gain wealth from
this market. They get a lots of money out from holding and believing from this assets.

Maybe end of this year or the next following will be the test if we will see that range again.

If ever this thing will again happen ,I would surely sell my holdings. I could also ait for its value to be higher but I won't for sure. Having a market value of as such is already something to be surprised of just like before and more likely, a dump will follow. If ever it will be higher, then it would be better but taking the assurance of the profit I think, would be the best thing to do since we have a volatile market value.

Others would say "I will not do anything but to hold". In my point of view, that will just be more of a gamble. Since we have no assurance of a higher market value, things could be worse. Also, I do not get the point of choosing to gamble it "all" that to play it safe. If you have experienced the "peak" last time, you probably get what I'm pointing out. And hopefully, we will again experience such thing someday if that won't be happening this year.

I have a certain price in mind but while I hold it I just hope I could use it.

It feels like it is better if I can just use it to buy things that I wanted to not sell it for me to be able to use it. Either way, I would just reinvest most of that if that price was ever reached.

It depends and varies to each person yet we know that we do have different set goals in mind when it comes to our investment,some might be a hodler but they do have
particular price in mind on when they would tend to sell because we know that people are way too emotional or can be easily be distracted nor influenced on whats
happening currently in the market.If they do saw that they already profited out then they might have second thoughts on selling it early.It all matters on decision
from time to time because it do changes while we do go ahead.Reaching ATH or not then each of us do have a selling point in mind.

   Nothing, I wait much higher price, and when that comes I will think what can I do with what I have. I am a long-term holder,
and I don't hold only Bitcoins. I wait entire crypto-market to hit trillions of dollars in market cap! And what will I do when that
happens I don't really know, I will try to do something good with that money for my family and close people!

I wont do anything cause i have only small amount of btc stored on my wallet, but if i have 2 to 3 btc then i can now give help to my relatives and neighbors who are hardly affected by the pandemic.

Bitcoin price movement is cyclic so at some point it will fall for sure before taking off to the next level but it is impossible to find when it is going to happen that is why I said, I will sell a part when the price movement turns into red after a long green trend.

to be honest i would say that if the price reached $20,000 i would sell and expect to see a 10% drop to buy again, but this will also depend on the support that will have when the price reaches $20,000 and the economic conditions that will have when the price reaches $20,000, for example: there may be a case of having excellent news when the price reaches 20,000 $ in this scenario I will not run to sell