tbh - I sold some at $940-950 on this bounce, I do not believe we will get back up to $1000 before another sizable drop. Too many people seem to be planning on unloading this time when we get to $1k again
Buy back target is in the low $800s, I think we will be in this $800-900 range for the next month or so, perhaps touching some of the support in the high $700s if people panic again for some reason.
Nothing wrong with hedging..
Hopefully you did not sell too many in reliance on that view, but if you end up being correct, then the more power to you.
I usually try to hang onto most of my coins, so I do have fiat to buy more on the dips, but I get a bit nervous hedging too much for down when it looks like we may be on the cusp of an actual upwards explosion.. the upwards explosion may or may not happen, but I would feel bad it I had anymore than 15% of my BTC investment holdings hedged towards down.. .. currently, I only have about 6% or 7% or so hedged towards the possibility of down from here, but I can see where someone may want to hedge a bit more than me... and even double is within my concept of reasonable.. but beyond that would make me nervous in these current market conditions..
Yea, I agree. I only sold 20% of my stash. I would be nervous to sell any more than that. This is actually the first time I've sold since the big drop in 2013, been buying ever since and scooped up plenty of coins in the $200-300 range.
I had planned to sell some anyway when we got to the 2013 ATH, just to lock in some profits. Should have stuck to that plan but when time came to sell I started hoping that we would zoom right past it and held off.