Bitcoin is at an all time high - Should I sell?
Should I convert my BTC into Fiat. I feel because BTC is at an all time high that it could have a correction in the near future at which point I could buy back in at a lower price?
I am new to BTC trading so all your thoughts are appreciated!
Hi @peeej, this is a question that honestly nobody can answer for sure. Just like every other investment this is speculation and there are a lot of reasons for the one and for the other scenario.
I think it is a given that cryptocurrencies are here to stay, they wont simply vanish. Additionally there is a lot of momentum right now to invest into cryptocoins in general, seen in a lot of green numbers in Top 100 Coins lately. So most likely the market will grow further making another rise of bitcoins likely.
But for sure there will be setbacks, attacks on bitcoin maybe, or something else we didnt think of.
It is a quite new playing field for a lot of people so i expect erratic movements as well, things you can not simply explain by logic.
In a situation like this it is impossible to make a forecast :)
So believe in what you think, and even if you decide wrong try to learn out of that experience
We think alike! Upvoted!
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What I did is once I made my initial money back I pulled out of Bitcoin and then put it into some commodities, but I would say if you have any debt or something killing your cash flow pulling some out to stop bad debt might work.