Quote from: Wakate on August 03, 2023, 09:19:00 PM

Quote from: Bitcoin_people on August 01, 2023, 02:31:58 AM

Quote from: jaimie0501 on July 28, 2023, 06:10:02 PM

When BTC reached $69000. I didn't choose to sell it. but the current price of Bitcoin dropped to less than $30000. Is it the most reasonable choice to sell BTC now and turn your attention to other investments? I hope to get some good suggestions. Although I have held BTC for many years. I am not good at management.

When the price of Bitcoin reached its peak, it was worth $69,000. But the price of Bitcoin has fallen again and again while turning from a bull market to a bear market. And when the Bitcoin market rose from that high, those who invested expected it to rise further and they expected to make a profit. But since you haven't sold that bitcoin investment over the years, it's definitely a good move for you. At the moment the price of bitcoin is $30000 dollars but we can expect that in the next year the price of bitcoin will definitely go to a better position. And since you're not interested in selling bitcoins, you hold onto them until the bull market hits you.

The mistake many will keep making is forgetting that the market will keep moving whether to the top or to the bottom. There is no guarantee that the price of Bitcoin will forever keep going bullish so we need to know when to sell and when to buy. This is one of the superiority Bitcoin traders have over those that are just investors. It is good for us to know how the Market moves so that we can always make a decision that will be beneficial to us nit blind decisions.

If op want to hold Bitcoin for one more year, that will be a good idea since it is very obvious that we shall be entering into the bull market soon so selling now will not make sense and suddenly the market went bull after selling his holdings.

If you have said that the market will keep moving whether up or down, then that means the opportunity to sell OP is still there. But I disagree when I say that traders will do better than investors at finding tops and bottoms. There are many factors that affect the price of bitcoin, technical analysis alone cannot determine which is the lowest price, which is the highest price. Bitcoin is unpredictable, and if traders are better, then why is the loss rate in the trading market higher than the loss rate of holders?

Any financial market will have only 2 bulls and bears, as long as we follow these basic principles and have specific buy and sell goals, we will never be afraid of losses.