That is where the real use of stable coins comes in because I would simply convert my Bitcoins into USDT and wait for the market to stabilize. I would not do this if the fall is around 2-5k USD but of the drop happens massively like you assumed then yeah I would convert into USDT and buy a chunk of Bitcoins at a lower price once the market becomes stable and the drop has ended.
Knowledge about when to sell and buy is what makes one a good trader and I have learned enough about these swings in couple of years of my Bitcoin journey that I am able to react to such swings such that I end up in profit more often than not.
Topic: What you'll do when BTC price will go down heavily and fast? - page 6. (Read 1817 times)
Everyone knows what they need to do, as our perspective and goal may be different.
I'm not using bitcoin as a regular currency on daily basis but buy and sell according to necessity and urgency. If bitcoin is about to burst then sell all of it and waiting for the bottom to buyback, it will maximize the profit and could accumulate more bitcoin into my wallet for sure.
Buy when bitcoin down because this great chance how to get much profit, I am waiting when bitcoin and altcoin down because looks happy for seeing red market and get chance to buy with lower price, but when bitcoin raise up I think many investor looks happy but they don't know how to get chance when market up, I have opinion with buying bitcoin or altcoin when have red or lower price later sell after bitcoin reaching on green market then have higher price. I'm not using bitcoin as a regular currency on daily basis but buy and sell according to necessity and urgency. If bitcoin is about to burst then sell all of it and waiting for the bottom to buyback, it will maximize the profit and could accumulate more bitcoin into my wallet for sure.
Everyone knows what they need to do, as our perspective and goal may be different.
I'm not using bitcoin as a regular currency on daily basis but buy and sell according to necessity and urgency. If bitcoin is about to burst then sell all of it and waiting for the bottom to buyback, it will maximize the profit and could accumulate more bitcoin into my wallet for sure.
I'm not using bitcoin as a regular currency on daily basis but buy and sell according to necessity and urgency. If bitcoin is about to burst then sell all of it and waiting for the bottom to buyback, it will maximize the profit and could accumulate more bitcoin into my wallet for sure.
Considering bitcoin as regular currency, I'd rather just hold it no matter how much the price is. At the time that I need it the most, I am converting with the current price.
In case that bitcoin price goes down heavily, I will grab the chance to buy more btc.
Majority of us would really be concerning on where we do able to buy those coins and when we are in need then we would surely consider to sell when we are above it.In case that bitcoin price goes down heavily, I will grab the chance to buy more btc.
We cant just sell it off directly without seeing on where we do able to get in because that would typically means that you are selling in loss. When we do saw
sudden price decline then its really hard to say that we wont really be on panic because we are just humans which are emotional when it comes to this.
Most likely people do shook off and sell in negatives while others do able to stand out into their position and do accumulate when its cheap.
Considering bitcoin as regular currency, I'd rather just hold it no matter how much the price is. At the time that I need it the most, I am converting with the current price.
In case that bitcoin price goes down heavily, I will grab the chance to buy more btc.
Most impact when have any country make regular bitcoin as currency payment will have two ways bitcoin become up price or down, I think today become new beginning with new president for United State and waiting what respond from Joe Bidden with bitcoin, he will give regular and allowed bitcoin as currency transaction and become give way for bitcoin to be higher price, but when Bidden give bad announcement with bitcoin just waiting for with correction, nice for waiting what his looking with bitcoin good or not for adopting in transaction on United State. In case that bitcoin price goes down heavily, I will grab the chance to buy more btc.
Considering bitcoin as regular currency, I'd rather just hold it no matter how much the price is. At the time that I need it the most, I am converting with the current price.
In case that bitcoin price goes down heavily, I will grab the chance to buy more btc.
In case that bitcoin price goes down heavily, I will grab the chance to buy more btc.
assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?
People will obviously not be super hyped about a crash if it goes down there, if the price crashed and went down, that literally means people sold their coins, how could we try to look for answers?I mean sure there will be a lot of people who will keep their coins, there is no doubt about that, but just because we are talking about some people holding, it doesn't matter the mathematically proven fact that in order for bitcoin price to fall, there needs to be a ton of coins sold on the market around the same time, so if the price crashed that means the answer of this question for many people is "sell my coins" because if they didn't sell their coins, the price wouldn't have gone down. I personally would keep mine, because I always keep mine, no matter if it goes up or down, but the market has decided to sell if the price is a lot lower.
Keep holding is better than have sell with lower price because I think bitcoin always have bigger chance back to higher price and not worry for investing and keep holding bitcoin or altcoin. I think during bitcoin have lower price have many bigger investor wanna buy back bitcoin and they wanna get more profit after bitcoin pass correction price and going up, maybe many time bitcoin success pass correction price with higher price more than 20x before correction.
I think that at this year, it will be different so I have to agree with your strategy, back then there are little to no institutional investors that are buying boatloads of bitcoin, fast forward to the present, Grayscale, Microstrategy and other similar companies are buying tons of bitcoin and as we all know with the rule of supply and demand, price will go up as soon as the supply drops. This dips in prices are just a temporary down in prices, remember that many believes that 100k will be hit this year and bitcoin has been evidently proving itself doing some say impossible. 
When bitcoin price is pumping people FOMO, and when the price is dumping some people endup holding it why some people end up selling it off due to fear, why some people end up selling and buying back when the price is already very low. Currently bitcoin price is increasing massively, but If the price dump massively I will definitely sell off and convert my fund to a stable coin and later buy back when is dump already and I will hold.
Many trader get panic moment and bad information have to believe so their loss opportunity to get much profit with selling bitcoin on higher price, before bitcoin going above $40k many investor believe with bad news when MGTOX exchange market refund more than 15k bitcoin fund to their member, but just fake news there not refund balance and many investor have sold their bitcoin with lower price, now many people get bad news with on 20th January will get terrible price for bitcoin but I think never believe with fake news because they wanna make you panic and selling bitcoin with lower price.
News like that is only FUD that is actually being spread to create panic and people start selling it for fear that Bitcoin will continue to fall. But in the end Bitcoin was able to go up to $ 40k in just a few days. After the FUD is successfully deployed and the price drops, it is time to make positive news about bitcoin which will cause the tremendous FOMO to push the bitcoin price back up and reach a new ATH.Many market manipulations are carried out by several groups for their own interests, we as traders or investors must also be vigilant and have a strategy to deal with such incidents.
Many trader get panic moment and bad information have to believe so their loss opportunity to get much profit with selling bitcoin on higher price, before bitcoin going above $40k many investor believe with bad news when MGTOX exchange market refund more than 15k bitcoin fund to their member, but just fake news there not refund balance and many investor have sold their bitcoin with lower price, now many people get bad news with on 20th January will get terrible price for bitcoin but I think never believe with fake news because they wanna make you panic and selling bitcoin with lower price.
you have mistake about calling Bitcoin a currency. Bitcoin is Money, Bitcoin worth it's price as like as gold. but using it as currency with high fees, slow transactions, while there are better coins as like Litecoin, Bitcoin is no longer a currency these days.
I'm Bitcoin user since 2016. I'm holding and spending it to buy products before. but recently it's almost impossible to use Bitcoin as currency like it was before.
My mom tell me about old days, they was using Gold to buy cheap products. now they use Gold as Money, you can't go and buy from supermarket using gold easily as like our parents did before.
same happening now with bitcoin. it won't be usable as currency for cheap products.
It is still money depending on what you are buying, especially if there is an off-chain option. For example I do my namecheap expenses from bitcoin, never used my credit card, and I just put 100 bucks in there and spent about 4 dollars on the fee as well and it was there about 18 hours later (didn't matter, didn't want to put 10 bucks in it) and that was fine, I have spent the same thing for 8 months or so now and I will probably cover another year of expenses from that or maybe put in a little bit more (can use alts as well).I'm Bitcoin user since 2016. I'm holding and spending it to buy products before. but recently it's almost impossible to use Bitcoin as currency like it was before.
My mom tell me about old days, they was using Gold to buy cheap products. now they use Gold as Money, you can't go and buy from supermarket using gold easily as like our parents did before.
same happening now with bitcoin. it won't be usable as currency for cheap products.
Same goes for places like expedia and booking where you can arrange your vacation, between flight and hotels? That's gonna cost you quite a bit, especially in a European vacation that would be above 1-2 thousand euro easily, spending another 10 bucks or even 20-30 bucks wouldn't really be that shocking, so I would say it would be fine. Long story short it is still a currency, just for bigger things.
Umm, no way I’m not doing that mistake again and again because I have already sold due to fomo. Many times bitcoin went down hard and I sold because of big loss but soon after I sold bitcoin went up like crazy. Even in this bull market I experienced same thing. Now it’s time to stop this bullshit and Keep holding no matter what bitcoin does.
One thing is sure that I will buy even more bitcoins when it will go down hard this time. It’s for the goodness and I know it because numerous investors are now jumping into it and supporting bitcoin. The future is great, if you want to be part of it then just buy more when it hits down the road.
One thing is sure that I will buy even more bitcoins when it will go down hard this time. It’s for the goodness and I know it because numerous investors are now jumping into it and supporting bitcoin. The future is great, if you want to be part of it then just buy more when it hits down the road.
Literally before our eyes, the question asked in this topic was realized. Bitcoin plunged $ 10,000 down, which means a lot of people have a story to tell.
Namely, how they behaved during this downward movement. Personally, I managed to transfer bts to usdt at a price of 40,500, just before the fall.
That is the basic idea we have to do when the price of Bitcoin increased heavily in the exchanges, which we need to convert them to USDT, in order to protect our profits. It will give the opportunity to buy the Bitcoin again when the price of Bitcoin drops again. That's how we need to play with the cryptocurrency.Namely, how they behaved during this downward movement. Personally, I managed to transfer bts to usdt at a price of 40,500, just before the fall.
Other.
I'll keep regularly buying bitcoin, I'll keep regularly spending and using bitcoin, and I'll keep regularly putting some of what I buy in to long term cold storage. Bitcoin wasn't designed just to be held long term or as a medium to buy and trade altcoins - it was a designed as a currency, and I'll keep using it as a currency regardless of what its fiat price is.
I'll keep regularly buying bitcoin, I'll keep regularly spending and using bitcoin, and I'll keep regularly putting some of what I buy in to long term cold storage. Bitcoin wasn't designed just to be held long term or as a medium to buy and trade altcoins - it was a designed as a currency, and I'll keep using it as a currency regardless of what its fiat price is.
you have mistake about calling Bitcoin a currency. Bitcoin is Money, Bitcoin worth it's price as like as gold. but using it as currency with high fees, slow transactions, while there are better coins as like Litecoin, Bitcoin is no longer a currency these days.
I'm Bitcoin user since 2016. I'm holding and spending it to buy products before. but recently it's almost impossible to use Bitcoin as currency like it was before.
My mom tell me about old days, they was using Gold to buy cheap products. now they use Gold as Money, you can't go and buy from supermarket using gold easily as like our parents did before.
same happening now with bitcoin. it won't be usable as currency for cheap products.
why convert to stable coins and not fiat?
Since the market prices are based on crypto<>fiat, say you sold bitcoin at high and the fiat value of that coin is still low if you bought back you could theoretically shift to a stablecoin for the time being till the market drops again to buy back at a greater multiple value. Check yourself what Dollar cost averaging means and you might get a better idea.See if you want to make great profits then you need to gamble with your money.
I dont think that is going to promote the proper sentiment. You dont "gamble" with your money, but take calculated risks based on previous market metrics. Gambling here will mean pertaining to a casino to the users of this forum. 
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My strategy might not be pretty impressive, but yes that’s what i will do .
Logically that is what everyone should try. The difficult part is staying on track with the buy low sell high idea.
Only dump would sell their bitcoins cause of the fall in the price. There is nothing to be afraid when bitcoin decline. To me, it is just a correction for bitcoin to go even higher in the future. As a bitcoin enthusiast, I dont mind of it anymore and as you say, holding is the only purpose which guarantee the profit
You don't control the feelings of others.When they see the dump, it will affect them a lot, and won't feel it's safe to stay in bitcoin and keep holding it. And as a result of that, they panic sell, dump, and forget that bitcoin has been in many series of dumps and corrections.
That's why there's a quote made about weak 'hands selling'.
assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?
I'll change my mind now.I'd never think that Bitcoin will do the rally reaches at $40k, it is really out of my mind but now, my plan is to accumulate more if the times will come that Bitcoin facing the dips again $5k, $4k just like last year. I could be more positive and prepare my funds for this case.
What happens now gives me some learnings and that eventually gives me positive insights on what is possible to come.
The smart to do is to swap or sell for stable coins whenever the market price is falling so fast in order to reduce the effect of loss on one's fund. Swapping to fiat currencies in some the 3rd world countries isn't advisable because their country's currency might even fall as against dollar before they start to buy the coin again.
If traders can anticipate market changes, they use stablecoin to keep funds safe, and again to buy at lower prices. The change in the price of the USD with the change in the price of the local currency often worries traders.
But those who have long-term holders are not too worried about short-term market changes. So they know how to keep themselves safe.
I think the answer is "buy more" for many people. I have seen bitcoin do a correction about 7 or 8 times in the past 5 months and anytime it went down, people ended up buying more and more and the price recovered very quickly, which is why I think people end up buying a lot whenever price goes down. That is a smart thing to do and that is why I think it is quite possible that people end up with these kinds of results, they have seen that if they buy bitcoin, they are going to end up with a lot better results during the falls, and end up in profit during the ups.
I personally haven't taken part in it too many times, just twice so far but I am sure I am going to end up doing a lot better later on. All in all it is obvious that people want to make a lot more profit so they will keep on buying whenever it goes down, which makes me feel better about all these corrections.
I personally haven't taken part in it too many times, just twice so far but I am sure I am going to end up doing a lot better later on. All in all it is obvious that people want to make a lot more profit so they will keep on buying whenever it goes down, which makes me feel better about all these corrections.
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