Topic: Why I'm Not Ready To Sell My Bitcoins - page 2. (Read 350 times)

Right back in 2009, when Hal was speaking with satoshi after a few days he mined the genesis block, he assumed that if Bitcoin was successful the total market value would surge to as high as total wealth all over the world. Though this seems to be an over exaggerated statement from Hal, we the early adopters believe that this isn't the price the bitcoin would be in future considering it's mass adoption and the on-going developments in the bitcoin space. Volatility could act as a barrier to adoption but we are still in the early days of bitcoin and there is a lot to come as the year rolls.

We don't need to restate what has already been written in the history to the haters or panic sellers. We should be aware that people often compared dot com to the tulip bubble mania. But today almost every one of us are buying something from eBay or Amazon. People believed Amazon or other dot com companies which relied on internet (such as bitcoin does) doesn't physically exist and the bubble would burst quite sooner.

The market during the 2017 hype were completely driven by FOMO and newbie investors just buried their head in the darkness without knowing the technology which drives them. This resulted in downtrend losses and labelling the digital money as a get rich quick scheme. These guys clearly lacks the basic knowledge and need to get rich quicker. The mtgox panic sellers were the real losers who didn't know the price would reach sky high while the one HODLing during extreme conditions (such as something prevailing now) are the real smuggers who believe in the technology and not in the hype.

Now it's not the good situation to sell Bitcoin. The price isn't favourable unless you haven't bought your coins under current price on the market.
Don't ever forget that Bitcoin is volatile and that price will not always be high but sometimes you should make your decision and think on long term how your investment will look in the future. It's always better to have broader picture and not to look at the Bitcoin only from the short term position.

Even tough I have huge belief that bitcoin will be way way more than 20 thousand dollars one day this is not exactly the reason. Just because something happened in the past doesn't mean it will also happen in the future as well.

Bitcoin did went up and down multiple times in the past from 32 dollar to 2 dollar and from 1400 to 250 dollars and from 20 thousand to now 3 thousand dollars I am sure we will also go back up this time but not because it once happened so it will happen again reasoning but because bitcoin actually helps improve the world and money transaction systems so much that it worth a lot for people to just buy and send each other bitcoin instead of using the traditional methods, so when people realize bitcoin is actually a better money sending/receiving method than anything else and stop focusing on how "bitcoin will increase so much we will become rich!!" parts of it, only than price will go up.

Nice post, hugeblack. I actually have read many just like that and there are of course some stark differences in comparison, but these same differences have always given me cause to believe that we've actually seen worse before. That crash of over 90% from ATH within months is the biggest difference in your example: people were talking of capitulation and Bitcoin's death and yet the bears have struggled to tear price down to even 10% of ATH... now more than a year ago. If that's not proof of resilience from experience, I don't know what is.

This is the time you should be buying, not selling. The Mayer multiple is as low as 0.69. (The average is 1.39) If you are selling now you are basically burning away your money.

Hodl and buy more.

Yes, but I guess it will be a big mental challenges for everyone to really HODL even for the next year or so. So it boils down as how you going to react on the next leg down or leg up. Are you going to sell when the price goes < $3k and then come back again?

Honestly, it is impossible to know how price will be and I am undecided about it. Currently, the most necessary indicator that can predict the price can not help. And considering that this is cryptocurrency, do not know when it is going to be okay. I also think the price will be better, but I do not know when it will happen.

There are many reason why i'm not ready to sell my bitcoin. First, I do not want to cut my losses and once I sell it I will lose huge amount of money. Second, this current situation of market is not good for selling bitcoin. Lastly, So I will wait for another bull run that moment I will sell my bitcoin.

yeah, it makes sense to keep betting on the trend. why expect it to be different this time? it probably won't be.

but out of curiosity......what would it take for you guys to give up and sell? if we broke the 2013 ATH (~$1200) or the 2015 bottom (~$150) would you still be bullish?

Yes, very illustrative of the current situation.

In 6 years from now, it could go something along the lines: "Earlier today BTC rose above $250,000 for the first time since 2024, which is double the price of $125,000 at the start of 2023.... Of course $250,000 is not the all time record, which was  $445,000 for a brief period of time, .... "

It would be cool if that was the situation 6 years from now and everybody complained how low the bitcoin price was, wouldn't it?

Some people are worried about the current situation of Bitcoin price, many of them are afraid of collapse.
the title above does not talk about the present but about an article 6 years ago and let the writer speak:


Based on what happened in the past, imagine how the situation will be after 6 years.
Stop worry and just HODLING  .