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❓ASK What do you do with your bitcoin?

rubikz

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What do you guys do with your bitcoin? Do you just leave it in your wallet? Withdraw? Put into something else?

I'm still thinking of what to do with mine. It's been sitting in my wallet for quite some time now. I planned to withdraw it but then the value of BTC went down. I've been waiting for it to go back to the value when I had my bitcoin or even a bit higher. But it's also worrying me that the value now keeps going down.

What would be the best thing to do now? Would it be a wise decision to keep on waiting?
 
How much is a BTC now?
I always used an exchange website and got my hands on real fiat money which I used to pay members.
In your case, you can either store it and wait for bigger profit, invest it, risk it for profit or exchange it for PayPal money and buy some stuff you wish.
 
Many sites accept Bitcoin now as a payment solution Like Microsoft store, Steam, Newegg.
I would buy what I want with bitcoin because I don't have a large amount in my wallet! and I really don't want to keep them tho!
 
How much is a BTC now?
I always used an exchange website and got my hands on real fiat money which I used to pay members.
In your case, you can either store it and wait for bigger profit, invest it, risk it for profit or exchange it for PayPal money and buy some stuff you wish.

It's now at $4254.40. Now I regretted that I didn't exchange it for our local currency when the value was higher.

@MegaMan I've been planning to purchase a Microsoft Office. I might consider that but got to check the price first. I used to exchange mine right away before but I've read that it would be profitable to leave it in the wallet and cash out when the value is high. But right now the constant decline is worrying me.

I wonder if there are a lot of people who leave their bitcoin in the wallet for long terms. I guess I should exchange mine when I'm content with the value and just leave a considerable amount of bitcoin for long term.

Hope to get more ideas from more users of bitcoin.
 
I guess I will stock my bitcoin for a while and wait the bitcoin to go up to $10,000. But it is a very very very long time lol haha! But patience is the key ;)
 
I keep my bitcoins on freebitco.in and earn daily interest. I used to use it to pay for some services when the price was not that high and the fees were low. But now I'll pay less fees if any at all if I use PayPal or my bank card. The price is so unpredictable and it goes up and down that I don't think I'll buy more bitcoins or sell mine. I won't be surprised if it crashed and the price goes below $1000
 
I keep my bitcoins on freebitco.in and earn daily interest. I used to use it to pay for some services when the price was not that high and the fees were low. But now I'll pay less fees if any at all if I use PayPal or my bank card. The price is so unpredictable and it goes up and down that I don't think I'll buy more bitcoins or sell mine. I won't be surprised if it crashed and the price goes below $1000

Yeah it is very unpredictable. Even if it will crash, does it still have a future?
 
If you can't decide on what to do to your bitcoins better to let it stay in your bitcoin wallet. Nowadays, bitcoins can be use as a payment method to a lot of things. In my case, I sometimes use it to refill my phone load whenever I don't have money at hand to do so buy load.
 
I trade if I see opportunity when price of bitcoins go down, the trick for using coinsph is to watch on two prices the Buy and Sell,
say for example:
if the price of btc last week is Buy=240,465 Sell=217,345

you decided to sell your BTC at the price of 217, 345 last week and now

the price today Buy=210,005 Sell=202,073

I will buy Bitcoin since the buying price is 210,005 lower than what I sold my btc last week @ 217,345

do not buy if the current buying price is higher than what you sold your bitcoins, so how much did you earn?

217,345-210,005=7340

and for obvious reason wait again if the price of bitcoins from the selling price is higher than what you bought @ 210,005 like 217k, 220k, or even 240k etc

how will you know if bitcoins will go up? learn some basics in reading charts if you are into stock market then it will be to your advantage
btc.jpg

just looking at a 5 minute chart time frame you can already see some support where the price of bitcoins are heading like $3957.5 and $3903.3 if it will hit that price or...

if the bulls are strong enough it must be able to surpass your 1st resistance at $4070 before reaching the 2nd resistance near $4200

plus using your macd historical graph (encircled) it shows that the price is on downward movement but your macd line is still on an upward movement.

but at the end of the day it will still be you to decide if you use it to trade, pay bills or convert to cash.

caveat!
 
I'm undecided because of what is happening to bitcoin now. Is it still safe to keep bitcoin with the price constantly going down? And it seems that a crash is inevitable.
 
What do you guys do with your bitcoin? Do you just leave it in your wallet? Withdraw? Put into something else?

I'm still thinking of what to do with mine. It's been sitting in my wallet for quite some time now. I planned to withdraw it but then the value of BTC went down. I've been waiting for it to go back to the value when I had my bitcoin or even a bit higher. But it's also worrying me that the value now keeps going down.

What would be the best thing to do now? Would it be a wise decision to keep on waiting?
I am keeping in my wallet.Even if the price is going down now,after a while I think it will go up again.It is my opinion.I am keeping the Bitcoin in my wallet,and I look at it as a good investment.
 
I trade if I see opportunity when price of bitcoins go down, the trick for using coinsph is to watch on two prices the Buy and Sell,
say for example:
if the price of btc last week is Buy=240,465 Sell=217,345

you decided to sell your BTC at the price of 217, 345 last week and now

the price today Buy=210,005 Sell=202,073

I will buy Bitcoin since the buying price is 210,005 lower than what I sold my btc last week @ 217,345

do not buy if the current buying price is higher than what you sold your bitcoins, so how much did you earn?

217,345-210,005=7340

and for obvious reason wait again if the price of bitcoins from the selling price is higher than what you bought @ 210,005 like 217k, 220k, or even 240k etc

how will you know if bitcoins will go up? learn some basics in reading charts if you are into stock market then it will be to your advantage
View attachment 2167
just looking at a 5 minute chart time frame you can already see some support where the price of bitcoins are heading like $3957.5 and $3903.3 if it will hit that price or...

if the bulls are strong enough it must be able to surpass your 1st resistance at $4070 before reaching the 2nd resistance near $4200

plus using your macd historical graph (encircled) it shows that the price is on downward movement but your macd line is still on an upward movement.

but at the end of the day it will still be you to decide if you use it to trade, pay bills or convert to cash.

caveat!


Nice info. The problem is I don't know how to read charts. Do you see bitcoin having a chance to rise again in the next days?
 
In the next days not yet since people are still affected with the reports that China is planning to ban all cryptocurrency from all trading exchanges in their country, until this panic selling will seize the price will try to climb up. its all about news just like in the stock market when people hear news they panic while others take this as an opportunity to buy while the price starts to dip.

its just a matter of who are patient and impatient as we have not seen yet bitcoin to reach the $5000 price.

right now we are still above the cloud, if support able to hold along 3686 to 3750 then price can still climb up and should no go down the cloud or we will experience low price for bitcoins

btc_cloud.jpg
 
I heard that before getting them into dollars you'll have to sell them through an agent.I felt like the process was a little bit hectic,I just decided to let go of them...I think they are still in my Btc wallet but then I can't figure out the address.
 
@cashonline I see. Very nice explanation. I really should start learning to read charts. I guess I'll try to be a bit more patient and hope all goes well.

Where can I get reliable bitcoin predictions?
 
@ruthmongare if your using coinbase you can easily sell it there, if you have payza you can also create a btc wallet there and transfer your bitcoins and convert to dollars, and of course if you wish to use trading platforms for the exchange like kraken, poloniex, bitstamp etc. just don't forget to read some reviews I have heard a lot of negative stories to some platforms out there.

@rubikz
you need not predict as no one can really predict if it will go up or down, why? it is mainly controlled by human emotions when news hit them they suddenly panic and thus predicting will not work,

instead just go with the flow what you see from charts tells you how each bitcoin holder behaves to every news they hear what you see from given above samples are the price actions represented by the candlesticks in green and in red, so by color definition alone when you see green candles prices starts to move up while the red candles simply a negative or drop in price,

as you can see they form like waves or mountains if you can call it you see some peak and see some lows just by looking at the price action you can already establish your probable supports and resistance,

when we say support (more buyers than sellers) this is where buyers are strong and waiting for the price to hit that level and they start to keep buying, whereas when you say resistance this is the probable level of price when people starts to sell(more sellers than buyers)

but take note a support can become a resistance if the price breaks down that level and vice versa a resistance can become a support when the level is broken and the price move beyond that level.

Ever heard about Warren Buffet famous quotes:be "Fearful when others are greedy and greedy when others are fearful." what does it mean?

when people start to sell bitcoins at a high price (greed) of course do not buy, when people starts to sell at a low price (panic selling) then take your chances and buy.

You can use stochastic oscillator to scout if its undervalued or overvalued, so if its undervalued it is believed to below its intrinsic value and vice versa.

Just to give you a sample of undervalued is someone wants to exchange his $100 bill at a price of $50 dollars of course this is a bargain price so you will grab this won't you, but what about overvalued?

simply when someone wants to exchange his $100 to a price of $200 then definitely you won't close this deal.

Same when reading from charts if you see from stochastic (blue line)below 20 level (oversold) means it is undervalued and a good time to buy while when you see the blue line above the 80 level (overbought) it is overvalued and you will not buy at this level but you sell at this level.

But make sure before you buy at undervalued area be sure that line starts to move upwards and if you see it still going down then wait before it show signs of upward movements.

Here's just a quick look
stochastics.jpg
 
I like to hold my bitcoins. I don't usually exchange it to fiat but I sometimes use it buy services and items online .

Yeah I suggest you to hold your bitcoins . Don't withdraw it now cause bitcoin will recover soon.I am sure of it.
 
I don't have bitcoins in my wallet just have 20k satoshi in coinbase which I cannot withdraw.
But I am earning bitcoin on telegram and i think I should hold some btc as i think it is going to rise up again.
 

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