At least your honest enough to admit your terrible at trading bitcoin.... If you had bought at 300, when you had the chance but didn't bother you wouldnt care less about today volatility.
For those who already own BTC I'd be interested to know under what circumstances you would sell them. For me, I have already taken out the original stake, so it' basically letting profits run. Would sell once all the BTC sales and marketing channels are open and we run out of new buyers e.g easy to buy via normal stock brokers or bank accounts, even my parents have bought etc. First sign of weakness after that I'd sell a major chunk.
I think the number depends on the person and speaking for my case, it's not an all-or-nothing deal. A certain bitcoin price would probably get me to sell a portion and pay the taxes and leave in the bank. Until that number hits, I just spend bitcoin and the tax implication is limited to only those transactions (15% long-term). I've spent all of the $ value I've invested in, so everything is profits from here on out. The volatility today had little effect on me psychologically as I've been through worse over the years. It comes with the territory of the crypto markets. I feel for the new guys who just got in. Something to keep in mind, Bitcoin market cap is very small for the amount of money and people coming in. fwiw. https://www.shiftpayments.com/card
I sold all mine today (yesterday UK time). Think there will be a massive correction. I'm probably wrong. Will buy back if it hits new highs.
I see many, many people comparing the market caps of cryptocurrency to the likes of gold...to the value of all US currency and the stock market etc......saying that a $300 billion dollar market cap on 1400 cryptocurrency is peanuts and that this has to be valued in the trillions because all other asset classes are already worth trillions.....since when is this an idea on how to value an asset class....no one financial model has proven to be a reliable indicator of what a bitcoin or ripple or what every coin is worth.. Just because one asset class is worth this much doesn't mean that the other has to be worth that much....I think many are having a difficult time on how to put a value on something that really has no value since most of these cryptocurrencies are made and developed from thin air....a few clicks on the computer and like magic you created a cryptocurrency...
Price went parabolic....from $9000 to $10000 in 2 days and $10000 to $11000 in one single day....then everyone questions the 18% drop from highs....haha