What you'll do when BTC price will go down heavily and fast? - page 4.

militiariko

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Quote from: btcb3g1nn3r on January 01, 2021, 09:15:34 AM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

I will ofcourse be investing in bitcoin once agains if it goes low and down towards a very cheap price; bitcoin is bullish on the long term; so ofcourse when it is very bearish; buying the bears comes to mind alot. Do your research and always find a good entry to buy bitcoin.

geegaw

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the step I have done is to buy quickly when the price is low and hold until the price is high. This is one of the most powerful ways to find significant and large target prices. So I thought I wouldn't miss this opportunity to get low and sell high.

Well, I feel that you are lacking in the preparatory steps for an unexpected event as bitcoin drops dramatically and I believe your plan to buy low sell high will not be possible when perhaps a large amount of your capitalization is falling on altcoins or unable to convert to USDT, an unexpected situation always delays everyone's actions and contains many errors. Therefore, a preparation step for this situation is necessary, setting a suitable price to convert to USDT or stop loss quickly is the way I always do, wait for a stabilization from the market and apply your strategy, the odds of winning will be higher if we know how to prepare

FanEagle

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Everyone assumed something big would happen but the reality is that bitcoin never really shocks the world that much anymore, no matter what it does. I personally have seen plenty of times bitcoin did something huge, not just this huge increase in the last few months, I mean like daily as well, I have seen it move 20%+ in a single day as well, people are used to it by now.

What makes bitcoin so volatile is that there is no regulation of buying and selling, you could get together with few billionaires, and they could all buy at the same time to increase the price, they could then put orders to sell 10% of it every day for the next 10 days and they would get out without disturbing the market too much. That way they would get rich, try to do this for a stock in the stock market and you will not only be jailed, but also would have a huge fine as well in tens of millions.

ven7net

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Quote from: btcb3g1nn3r on January 01, 2021, 09:15:34 AM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

Since I do not really like to take risks, I would rather wait until the BTC price goes up again. For me personally, this is the best choice, since at this stage I can do other things. Again, if BTC drops sharply, then it will be too late to sell it or exchange it, for example, for USDT, since you will probably lose on this. I still stick to the option that you just need to wait and sell when BTC reaches the price you want.

Jesabela04

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Quote from: btcb3g1nn3r on January 01, 2021, 09:15:34 AM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

We should be glad that we have stable coin right now, this is to protect our investment and make it a safe haven but I don't see the market crashing right now, but if there are bad news coming like what happen in pandemic, be ready to take action to protect your investment, stable coin has been the best option and I'd like to think it was created for this purpose.

Converting to stable coins would be the best option that we can do to gain a good profit continuously. If we're doubting, then we could buy Bitcoin and reinvest again at a lower price and hodl it and just trust your guts since Bitcoin has shown and proven its capability to rise at the best time. Take the risk if you trust your coin because the dump is always part of Bitcoin's volatility and we should always take advantage of it.

oHnK

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Quote from: jaberwock on February 02, 2021, 07:47:12 AM

Not trusting the stablecoins makes sense. Why would we want to believe that, I would rather not do that and I would rather just keep my money to myself, there is no reason why they should have it.
Hence I end up with my local exchange when I want fiat.

I also have the same choice. When bitcoin drops like the previous year, I won't choose any other stable coin because when Bitcoin goes down I don't trust the others. In these cryptocurrencies, I see that there is no coin that is stable and really safe. High liquidity makes the price of these coins very vulnerable to plummeting. Instead of looking for alternatives by choosing other cryptos, I prefer fiat or even I convert them to safer investments like gold, stocks, or mutual funds. Because I'm also just a penny player whose every penny is very valuable to my economy.

jaberwock

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Quote from: TheUltraElite on February 01, 2021, 04:31:30 AM

Although it seems like a normal trend to do but that's not the case. Using stablecoins seems logical but many traders don't trust them completely. Either they will try to move to altcoins which are not stable or just hold bitcoin.

You can just sell for fiat and then hold fist while bitcoin drops. This might be difficult depending on your local currency exchange.

All in all, one needs to sell at the top and buy back at the dip. Otherwise they will not be able cycle their money.

Not trusting the stablecoins makes sense, after all it is just a company called tether and we are collectively believe that they are going to be fine with 20+ billion dollars of our money? Why would we want to believe that, I would rather not do that and I would rather just keep my money to myself, there is no reason why they should have it.

Hence I end up with my local exchange when I want fiat, there I do not have usdt or anything, it is just numbers showing how much fiat I have and with just one click it goes to my bank account whenever I want, and the charge is like under 50 cents as well so it is nearly free, anytime I want I can spend under 1 dollars to withdraw to my bank account and send it back to exchange, all in fiat form. So long story short we are going to be capable of spending some time on the fiat world when trading, might as well get the real thing.

TheUltraElite

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So anyway, I applied as a merit source :)

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It is a normal practice to convert to a stable coin and rebuy later when you believe it is about regaining grounds for an upward trend. This is what most people do to increase their amount of bitcoin.

Although it seems like a normal trend to do but that's not the case. Using stablecoins seems logical but many traders don't trust them completely. Either they will try to move to altcoins which are not stable or just hold bitcoin.

You can just sell for fiat and then hold fist while bitcoin drops. This might be difficult depending on your local currency exchange.

All in all, one needs to sell at the top and buy back at the dip. Otherwise they will not be able cycle their money.

Wulan_maniez

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I’m not sure yet if the historical assumption of BTC from 2017 to 2018 will repeat this year, as I haven’t seen bitcoin go down
very low like that year. Now bitcoin is just sideways with a reasonable decline that we would normally think of as a correction.
Right now because the price is still high enough I’m still going to hold bitcoin, not sell it too fast. Anyway, I’ll see first what
the market situation will be.

wiss19

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I'm just continue to hold my BTC and I have trust with BTC if the time will come like this. Its not possible but also its not possible that it will recover immediately. I will buy more BTC if the price really goes heavily down. Its one great opportunity to buy again until it back to the price it should be. Probably a lot of people will get panic and sell their BTC but I will not. For me, holding is the best option rather than selling at low price.

That is how you should be thinking as well if you are a good investor. Traders end up buying and selling constantly and that really hurts the chances of making money in crypto, but the reality is that if you end up with a crash, that means cheap bitcoins and you could buy more and more so that you could get richer in the future.

We are talking about something much bigger here, we are talking about 50k+ and even 100k happening, that means if I buy from 33k levels I am going to make a 3x return, however if I buy from 20k levels that means I am going to make 5x return and if by luck if bitcoin ever drops to 10k again (which I doubt will ever happen again) that means 10x returns. This is why people do not let bitcoin go down too much anymore, because when they see it go down they end up buying more and more which results with price going back up.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

What you'll do when BTC price will go down heavily and fast?

should be an easy question to answer.
short selling bitcoin in an exchange platfrom that offer contract trading, and use the profit to buy bitcoin Grin

you can get profit for both side market, bullish and bearish.

coolcoinz

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I'd never choose to convert to altcoins in such case. Altcoins would go down even deeper if Bitcoin lead the way. I'd also stay away from stablecoins. It's possible these will one day be the cause of a big market crash. For late investors the smartest move would be to go back to fiat to save themselves from losses. For a long time holder like me it would have to drop down below 1k to make me scared. I'd most likely keep holding until the end.

zanezane

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Quote from: ?? on ??

I'm just continue to hold my BTC and I have trust with BTC if the time will come like this. Its not possible but also its not possible that it will recover immediately. I will buy more BTC if the price really goes heavily down. Its one great opportunity to buy again until it back to the price it should be. Probably a lot of people will get panic and sell their BTC but I will not. For me, holding is the best option rather than selling at low price.

I would do the same because I do not have that much amount of bitcoin being hodled in the first place, the storm happens but we always know that it will end, how many times does it need for us to completely trust the power of bitcoin, in fact, this downtrend is an opportunity for many to buy bitcoin at a lower price and hodl to profit. Trading will be a different case because traders has bitcoin as their main source of income. I am surprised that the poll has convert to fiat at third, I was expecting it to be around the last place but I guess that's people's perspective for you, they really are differing and that is interesting.

buwaytress

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Quote from: ?? on ??

It is a normal practice to convert to a stable coin and rebuy later when you believe it is about regaining grounds for an upward trend. This is what most people do to increase their amount of bitcoin.

Normal for you is certainly not normal for other Bitcoin users, speaking for myself anyway. I know it is probably the smart thing to do, preserve dollar value at a high and buy back at dips but since I can't afford to spend any more time than I already do on Bitcoin, I can't bring myself to convert to trader mentality... I am happy regularly holding and adding by dollar cost average.

Besides, all the traders who eventually lose during a bear or when caught by rallies only serve to strengthen my conviction that trading is not worth it when you're not set up to be anything else than a casual investor.

Bet you wouldn't be able to show you've done it successfully over the long term, now, would you?

MrBDavies

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I highly think thats not possible with the current price for BTC and what remains to be seen is if Bitcoin will indeed become less volatile and live up to the hopes of Scaramucci, Saylor and others who see the cryptocurrency becoming a new-age safe-haven asset.

But there's a reason why there are stablecoins in the industry, I think stablecoins will be my sanctuary if BTC decides to go south.

Bitcoin’s positive track record for long-term appreciation has been a driver of interest from institutions, and they're typically long term holders so I guess I can consider them as my signal to sell.

john_nautica

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Quote from: error08 on January 29, 2021, 12:50:53 PM

Quote from: john_nautica on January 29, 2021, 10:56:18 AM

Quote from: btcb3g1nn3r on January 01, 2021, 09:15:34 AM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

Personally, I would choose to convert the BTC I have to stable coins. Or maybe convert some to flat whenever I gain decent profit. While continuously buying until it indicates that it is on peak and will start to crash soon. Then I will do my ways to secure what I have generated.

Most people will do the same, that's why the snowball effect happens, hence the market crash continues to pull the price gradually decline over time. The only problem is we don't know whether the price will rebound or won't recover, for people who sell at the peak have earned the profit to buy back but for people who miss the opportunity to sell, the majority will wait for the price to rebound which doesn't happen then they sell at a lower price at loss.

You’re right. For long, I am one of those enthusiasts who always missed the opportunity to sell as I wasn’t used to the trend in the price movements. I know that it may not be that sustainable selling on its peak since it caused crashes, but I still do as I see that it is how the market works. And I had to go by.

SquallLeonhart

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Quote from: thesmallgod on January 28, 2021, 03:25:58 PM

I think it is better to start thinking and making use of stop loss. If you will have to wait to do any of this thing you might end up losing more because bitcoin dump happen so fast so in that case you can minimize ur loss by converting into fiat however the challenge will be the extent to which the drop will be. Sometime, price drop rapidly because people take huge profit and rise back with time. When the price drop like this it creates a fear that make traders not to be sure of when to start trading again

It is better to have stop loss at any point. Sure you could have a bit more lax stop loss when we are in a bull run, considering it like this, if you bought bitcoin at 10k and price peaked over 20k you could have a stop loss at 15k and still make 50% profit, if it goes over 30k and you put it on 20k that means you could profit double even when it falls down big. So, basically on a bull run putting a stop loss is easy but it should be done nevertheless because that is how it should be.

On a correction, or stable price, or a crash you should have a stop loss even more importantly, because that would be the number one thing that would make your situation better. If you bought at 30k for example, have it at around 28k or so in order to save yourself from a huge fall when that happens, if that doesn't happen your stop loss would be useless and that's fine, but if it happens you would be happy about it.

hahay

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Just going to continue to hold or cut losses immediately by selling fast as well at least that is what I usually do when selling late, but it would be better to hold because I think that is the best way because next will make long term plans. Converting it to a stable coin I didn't think it would be good, because after all Bitcoin is the king which is very likely to jump higher the fast way too and that was a surprise.

error08

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Quote from: john_nautica on January 29, 2021, 10:56:18 AM

Quote from: btcb3g1nn3r on January 01, 2021, 09:15:34 AM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

Personally, I would choose to convert the BTC I have to stable coins. Or maybe convert some to flat whenever I gain decent profit. While continuously buying until it indicates that it is on peak and will start to crash soon. Then I will do my ways to secure what I have generated.

Most people will do the same, that's why the snowball effect happens, hence the market crash continues to pull the price gradually decline over time. The only problem is we don't know whether the price will rebound or won't recover, for people who sell at the peak have earned the profit to buy back but for people who miss the opportunity to sell, the majority will wait for the price to rebound which doesn't happen then they sell at a lower price at loss.

john_nautica

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Quote from: btcb3g1nn3r on January 01, 2021, 09:15:34 AM

assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?

Personally, I would choose to convert the BTC I have to stable coins. Or maybe convert some to flat whenever I gain decent profit. While continuously buying until it indicates that it is on peak and will start to crash soon. Then I will do my ways to secure what I have generated.

Topic: What you'll do when BTC price will go down heavily and fast? - page 4. (Read 1817 times)