/biz/ - Business & Finance

[Anonymous No.10673653]

Did anybody here actually sell it all in December or January?

1) How did you know to sell it all? Have you gone through the market cycle before, and when you saw that parabolic movement, knew to get out?

2) Any tips you can give to know what to look out for in regards to sentiment?

3) Do you believe this will all come back?

I'm down over 95% on my alts. At this point I realized I fucked up, got greedy, and my mindset is wrong. So just looking for advice from other anons who made it so I can adjust my mindset for next time (if there is a next time, which I kind of believe there is, but I kind of believe there isn't...i don't know)

[Anonymous No.10674149]

Ok look. When something rockets up a billionty percent, that kind of growth is not sustainable. Clearly bitcoin was hugely overpriced, so smart people realized that it was the time to cash out, as the upside potential for bitcoin at 20k is basically zero and the potential downside is enormous.

[Anonymous No.10674222]

>>10674149
This kind of common sense, you had to have gone through a market cycle to understand that right? Because seeing how so much of us are down from our ATH, you would think that is clearly logical, but we get completely blinded by greed.

Is it just one of those things where you had to have experienced the pain of a bear market first to deal with it?

obviously now, I know. Being down so much has taught me this hard lesson.

[Anonymous No.10674242]

>>10673653
Also it's not coming back. A huge part of investment is risk management, or at least awareness. As bitcoin climbs, it's potential downside grows and it becomes riskier to hodl, if you get what I'm saying. A smart guy will be aware of the changing risk characteristics of his various investments and will use that as part of their calculation regarding when to sell or whatever. Another thing is to set a target price for yourself. Don't just hodl hoping that things will come back or go higher or whatever. Say, "I will buy in at x, my carefully researched buy-in price, and I will sell at X, my carefully researched target price." -

[Anonymous No.10674262]

>>10674242
> Also it's not coming back.

:(...fuck. The rest is good advice thanks anon

[Anonymous No.10674291]

>>10674262
No problem. Just remember to take profits when you are up, and a 3% gain is still gains.

[Anonymous No.10674292]

>>10673653
I sold less than two days after reaching my ATH in early/mid January. I knew it was all collapsing because I say that the market started tanking two or three nights in a row, and I believed that the Korea FUD started an irreversible downtrend.

[Anonymous No.10674476]

>>10674262
It will come back, but only to the legit projects which will survive the purgening which started now

[Anonymous No.10674654]

>>10673653
> How did you know to sell it all?

I just looked at Ichimoku Cloud

>Have you gone through the market cycle before, and when you saw that parabolic movement, knew to get out?

No, I didn't sell anything. I reinvested it all in Vechain

[Anonymous No.10674672]

>>10673653
sold it all in february so i didn't time it as well as I could've
anyway what blows my mind most are people who've kept hodling all this time, not the fact that people missed the top

people who hold expect le epic golden bull run to come out of nowhere, but stop being a retard for a second and understand you need new blood in the market for that to happen or an incredibly positive prospects for bitcoin for people to get together and all throw money at the market at the same time
that was never going to happen and wont happen for a long time, until something of note actually happens for cryptos
retards at /biz/ expect the bullrun to start any second now for no literal reason and just keep holding

[Anonymous No.10674688]

>>10673653
I almost did, but someone argued with me not to sell it all. Sold 1/3rd instead.

1. Everybody was talking about, all over the news, plus the prices went up 5x across the board, even on worthless shitcoins. Obvious Euphoria phase on the meme chart.
3. I think some coins will come back and hit new highs. Going to be rough though and I don't see another 2017 happening soon.

[Anonymous No.10674712]

I sold 10% which was exactly my principle. Should have sold more, but at least I'm guaranteed to never be in the red

[Anonymous No.10674773]

>>10673653
I did. Late december.
Litecoin plunged from 350 to 160 in a day.
In 2013 it never did such a move before it was over.
I sold 90% of my stack on the rebound around 300.
Also sold most of my ether then, which was a smaller stack.
Ether bubbled further in january though like ripple and most others.
But in the end probably got my stack out at 80% of ATH.

[Anonymous No.10674806]

Yep. I'm that guy. Here's the thing, I never held a whole bunch to begin with, so I didn't make the hugest profit ever, which is why I'm still here.
>be me
>start in the stock market, get burned a lot, learn my lessons
>vow to NEVER fomo or panic sell, develop hands of steel and superhuman patience
>start trading crypto using Buffet advice: "Be greedy when others are fearful."
>Everyone is panic selling and bleeding sometime in 2017, I forget which month, I buy up a fuck ton of shitcoin alts
>"Be fearful when others are greedy"
>Dec/Jan, every fucking thread in the catalog is smug frogs and green wokjaks
>H-holy shit, if Buffet is right, I better take my profits now before this thing comes crashing down
>Sell on the first hour of the first day of the new year so I won't owe taxes until next year
And that's how I successfully profited off of the bubble and exited before it all came crashing down. Like I said I didn't have a lot of money to start with, so the profit I made was only around $4000... still an unbelievable haul just for buying digital monopoly money with no purpose (I bought literal shitcoins and outright scamcoins)

[Anonymous No.10674870]

>>10674806
Since there is not a single bull to be found these days, you should be buying. Right?

[Anonymous No.10674884]

>>10674149
>>10674292
You supposed to hold, not sold, bitches! This is all your fault!

[Anonymous No.10674893]

>>10674870
>Since there is not a single bull to be found these days

[Anonymous No.10674914]

>>10674870
I guess. I bought up some shitcoins again, but I don't know if or how Buffet's advice applies to super-bubbles that already popped. Guess we'll see

[Anonymous No.10674938]

I told myself I would cash out if I hit 100k. Hit 100k the day after Xmas

[Anonymous No.10674974]

I didn't, although im still up 100% ($8k) from my initial investment and 70% down from ATH.
I was afraid of selling because I sold eth at $11 a few weeks before the first pump to $300 and didn't want to take the risk of selling again.

I do, however, believe that alts will come back but only the coins/tokens that show potential like BAT/LINK/XLM/ZRX. Hype coins (like XVGO will die and make place for coins/tokens with an actual use case.

[Anonymous No.10675046]

I dont even care if bitcoin falls
What annoys me that i lost so much SAT
If i had just accumulated as many btc as possible i would have made it
I had 100 and now maybe 20, but probably less, i didnt login some time

[Anonymous No.10675053]

>>10673653
It all fucking rhymes man. It always does.
Just look at the chart of 2013 and the one now, look at the ether bubble in june 2017 etc. Study the charts, put them next to each other, it's never the same but it always rhymes, it rhymes very Well crypto to crypto bit worse with gold and Nasdaq bubbles but you can spot stuff. There are sub-cycles to a bull and a bear, study them.
This is a bear market. There is never a V shared recovery after a bear. Everybody that is saying that the green dildo will arrive tomorrow is wrong.
It will hit bottom, go sideways till it bored the hell out of people and the media and then we're going up again.
100k Is my guess. Probably 5 years from now.
There will be a lot of people like you, most will quit. Some will put some wagecuck savings month after month in crypto.
I'm still waiting a bit myself. I always thought 5000 would be a bottom but I'm a bit throne off that we're getting there only 9 months after the top. After 2013 it took 13 months and I had expected that the bear market would run longer and slower.
But its just deflating faster, so that scares me. I'm probably going to enter with like 10-15% at 5000 and intend to never reenter with 60% so I leave 25% to wait for the sideways market.

[Anonymous No.10675133]

>>10673653
I sold into tether on December 23rd

>How did you know to sell it all? Have you gone through the market cycle before, and when you saw that parabolic movement, knew to get out?
I hadn't gone through a full market cycle before but I had been expecting a bear market at any time throughout the second half of 2017

The thing is, when it takes many, many months to double, $1,500 --> $3,000, and then takes another few months to double again $3,000 --> $6,000, and then adds another third in less than a month, $6,000 --> $8,000, and all the while those crypto channels that you're watching go from /dudesinfrontoftheirwebcam/ tier to real youtubers, and then fucking doubles from that $6,000 to $12,000 in one month, and then adds on another third in like fucking two weeks to $16,000, and even then keeps going, then you know you're in a bubble.

What I do is wait for the top to dip.
If you look back at all the Bitcoin bubbles closely enough, you'll see there are always two peaks, the one after slightly lower than the first one.
You wait for the dip, people don't believe it's really signalling a bear market or newfags like you think it has more in it and they buy back the price up to *almost* where it peaked, then you sell, then you win.

[Anonymous No.10675180]

>>10673653
No rocket science involved. Mostly just timing (luck). If you got into crypto this time last year and brave enough to buy some big bags at $0.05 per, you would have been feeling very self satisfied by last xmas, and feeling even more satisfied if you started to feel a bit too greedy and dumped it all in Jan.. And now here we all are again..... current sentiment is a big clue

[Anonymous No.10675189]

>>10675133
>>10673653
Also, btw OP yes, of course it will come back
It might take two years or even four years, but it will come back
And how do I know?
Because even at the height of the craze the whole crypto marketcap was still less than that of virtual clothing sales (lol)

[Anonymous No.10675241]

>>10673653

1) Sold in December. Price was going up fast, so I knew it couldn't keep going up more much longer. Was thinking it might go up to around 25k, ended up selling around at 17k once it was going down. I was around during the 2014/2015 bubble.

2) Don't get greedy, when everyone was so sure it was going to go up to 25K or even up to 50K within weeks that's a pretty good sign to me it was going to go down.

3) I believe BTC will regain it's ATH, possibly by the end of the year, maybe in a few years tops. It's harder to say which altcoins will come back. If you look back at 2014/2015 some of those altcoins are still around and if you had held onto them you would be good, but a lot of the altcoins from back then died off.