BITCOIN PRICE - The Case for Buying, Selling and Holding Cryptocurrency
The price of Bitcoin is gyrating like a drunken belly dancer hopping on a bed of hot nails. BTC has been soaring to new heights over the course of the last year. I still remember how they laughed at me six months ago when I predicted it would hit $10,000 before years end. They're not laughing anymore... I'm not even going to post the current price as it will change in a blink. Suffice to say, if you have a pulse, you know the Bitcoin price right now.
With the current valuation of this favorite cryptocurrency - I'm wondering - where do you stand? Are you buying, selling or holding Bitcoin?
The case for buying Bitcoin
With price projections well over 20,000 for next year, now may be a good time to accumulate. With Bitcoin seeping into the awareness of the masses, this train may just keep on rolling. I see plenty of new people asking about it and since this is not financial advice - just my own opinion about what I see going on around me - due diligence is always your best friend. If you're continuing to add to your Bitcoin horde, what are your reasons for doing so and where do you see Bitcoin going in the future?
The case for selling Bitcoin
This may be a no-brainer for the "Bitcoin Whales" who got started when this first came out back in 2009. If you're one of those lucky ones, the thinking is: now may be a good time to sell before "The Bubble" pops. I could see a scenario where a portion of the holdings were sold to cash in now and let the rest ride. If you're part of the "sell now" camp I'd love to know why and how much you're willing to let go of.
The case for holding Bitcoin
With Bitcoin, it’s almost like a person strapped to a lie detector and watching that needle zig-zagging all over the page. It takes a steady person to deal with these wild price swings, but the rewards could be worth it. The thinking goes: why sell when things are just starting to take off? No one wants to be the guy who purchased two pizzas for 10,000 bitcoins back in the day. If you're currently holding Bitcoin, please share why you're not taking profits right now and when you'll start letting go of your stash.
I think cryptocurrency is the future and I'm glad to be around to see this all get started. The only thing better would be to take a time machine back to 2009 (knowing what we know know) and load up on Bitcoin. Let’s take STEEM along for the ride! Merry Crypto everybody!
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I am holding. I did some moving back and forth when the BTC cash upswing happened. I ended up breaking even due to the crazy fees for BTC trades. The fees are unreal! Steem needs to be mass adopted due to the free and super fast transactions! Great post.
Thanks, I still remember how surprised I was when the fees became noticeable. It'll be awesome when the masses start adapting Steem!
Do you have any insights as to why SBDs have gone up so much?
I hear it has something to do with us being added to a South Korean exchange, either way, a nice little Christmas present for Steemit! :)
Well said ! I just wish I had some , I think its going to keep going up !👍👍👍
The good part is since Cryptocurrency is the future, even if it dips in price, you can buy at a discount! I still remember when it was a dollar! :)
Haha and that's the way it goes ! Nobody thinks its worth buying at a dollar ! Then kick yourself later for it LOL! Hope it dips enough to get in on some ! Good night , I will have to dream about getting rich with steem ans steemit for now ! 😴😴😴😴
I'm going to keep part of my Bitcoin - just in case it will go up (I bought at a very good price, so even if it drops back to $1000, I'll still be in profit, so I can take this chance). The other part I'm using to further diversify my portfolio and buy in on promising inexpensive altcoins
I would not be surprised if one day even a partial share of Bitcoin could be enough to purchase a house. It's good to have some skin in the game!
Nice post!
I am currently playing both positions. I made a good bit as I got in at around $300. I am still keeping HODL position. For the novice investors not using play money I have suggested it's probably best to not be in right at a huge spike but honestly who knows. 2018 will be very interesting.
Would you believe I have 25 Bitcoin somewhere! Back when they first came out they were giving away 5 Bitcoin at a faucet and I got 20 more which somebody may have cleaned out with an old computer, or lost on Mt Gox. Remember when Bitcoin was a Dollar? Amazing. Either way, I believe the value will only increase. Glad you got some cheap! Following you as well bro!
Thanks and you have a happy and safe holiday as well! The year is closing fast.
You are most welcome and yes it is!!
I currently hold between 1.0 - 2.0 BTC, which I started buying 2+ years ago on a monthy basis, primarily around the $250-$500/BTC price range. I have decided to take a cautious, long term approach and hold on to the 1.0 BTC for the long, long term (hoping that it will finally make me rich), and use anything over the 1.0 BTC to sell a bit each month in order to BOTH take some steady profit (especially in case there is a major correction or possible crash) AND to play around with a few other coins, which I have research for long term viability (ex. Steem, Potcoin, Ethereum). Ultimately, I plan to build a core portflio limited to 5-10 coins in a long term investment strategy.
Sounds good. It minimizes risk, while keeping a portion available for upside potential.
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