Why I’ll Sell Bitcoin If It Reaches $17,000 Soon

Bitcoin touched ,500 yesterday and bounced back with ferocity. At the time of writing this, Bitcoin is currently sitting at around ,000. Is this Bitcoin recovery healthy? In my opinion, it isn’t.

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The reason I suspect this isn’t a healthy recovery is simple – it happened too swiftly and too strongly. I believe, from a psychological perspective, that dead cat bounces occur because people FOMO into a recovery with little faith in the price of the underlying asset (Bitcoin in this case) which leads to a nice pump. But when selling occurs, everyone says to themselves “I knew I shouldn’t have bought!” and they all panic for the exits.

As such, I will sell a decent portion of my Bitcoin if it reaches ,000 as there is significant resistance at that level. The reason I’m not selling immediately is because Bitcoin continues to defy my expectations, generally to the upside, so I will give it an opportunity to rise higher. In the event it comes down prior to that level, I’m prepared to hold (or buy if it goes low enough).

In the event it skyrockets (say up to k), then I’ll provide updates on my expectations and entries. But for now, these are my thoughts on the market. As for altcoins, I still prefer Bitcoin over them given dominance has reverted back to 43%. I will continue to generally prefer Bitcoin until dominance reaches around 50%, although I will provide an update if my mind changes on this for any reason. As such, I believe selectiveness is more important than ever with altcoins right now.

Let me know your thoughts on the markets below – I’m happy to hear them!

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My Recommended Hardware Wallets:

If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously – look it up and you’ll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline):

Ledger Nano S:
Ledger Blue (expensive):

I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn’t matter which one you go with. Ledger Blue is premium and convenient, but not necessary.

My Favorite Book for Investing in Crypto:


This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn’t bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest.

It’s a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc).

My Recommended Exchanges: Coinbase / GDAX / Bittrex

If you sign up to Coinbase using link above, you and I will both receive each after you buy your first 0 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex.

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My Platforms:

Seeking Alpha:

To make turning into a seller easier, it’s worth at least considering completing the identity verification process once you first join the website. Selecting the most suitable transfer method can help save you a bundle, even though the options available will change depending on the place you sell. It’s also a fact that the more demanding your use is, the costlier the essential equipment tends to get. The SpectroCoin merchant solutions uses an API and assorted plugins that integrate several third-party platforms to create funds collection easy. All these options allow you to sell bitcoin in various ways and at various rates. All these options enable you to sell bitcoin in various ways, and at unique rates. You’ve got wide selections available when it comes to selecting a platform to trade on.

You are able to fund your account in many ways. As the exact same as account verification, your bank account ought to be verified within a day. As soon as your account is confirmed, you are going to be permitted to deposit cash with credit cards, or via wire or SEPA. Once you create your account, you are going to have the choice to confirm your profile. If you’re opening an account with the particular intention of receiving funds from bitcoin trading, you might find high street banks refuse to work with you.

Online marketplaces are another means to devote bitcoins. There are now three methods to go about selling bitcoin online. It is exactly like buying, you have to make an order also, but it’s not a buy order, it needs to be a sell order. You just have to contemplate how to acquire the very best price and what type of trade you desire. The amount of bitcoin is volatile, so selling bitcoin can be a significant part of consolidating your investment. You need to look at current bitcoin prices to have a feeling of how much you should ask.

Because the regular market rates of bitcoin can fluctuate between countries, you might have the ability to sell at higher prices to buyers from specific nations. Furthermore, you’ll need to pay a fee to use some exchanges. Transfer or withdrawal fees may be incurred whenever you should move funds.

Exchanges are sometimes a trustworthy method to sell or trade just about any sum of bitcoin at a fair price, for just about any sort of fiat or cryptocurrency. When an exchange is just usable in a particular nation, then you might have the ability to come across buyers from that country on such exchange. The second way is via an internet exchange, wherever your trade is with the exchange rather than another person. Distinct exchanges might permit you to place various forms of sell orders. They might let you place different types of sell order.

In case the exchange is facing liquidity troubles or issues with its banks, it may take an inordinate quantity of time to get your funds. If it is only usable in a certain country then you might be able to find buyers from that country on that exchange. Regardless, it’s not a good idea to use exchanges to put away your whole pot of coins, though it can seem to be the simple option if all you’re doing is speculating. For this reason, you ought to carefully find out more about the exchange you want to use before committing funds. Otherwise, you could use a pure cryptocurrency exchange to modify bitcoin for one more cryptocurrency.

25 thoughts on “Why I’ll Sell Bitcoin If It Reaches $17,000 Soon

  • December 24, 2017 at 12:20 am

    What is your thoughts on this market recovery? Healthy? Unhealthy? To the moooon? Or to the ground? If you would like a better chance of my response or to see my responses to others, check out my Steemit: steemit.com/bitcoin/@cryptovestor/why-i-ll-sell-bitcoin-if-it-reaches-usd17-000-soon. If you would like live updates from me, check out my Twitter: twitter.com/Truth_Investor.

    P.S: For the people who see this in the future, this is only a short-term decision. If Bitcoin consolidates more or situations change, I will also change whether or not I sell. But for now, if Bitcoin continues this momentum with little pause, I will sell some of my position at ~$17,000.

  • December 26, 2017 at 3:45 pm

    So when you are taking profits and pulling off the table, are you moving all the way to fiat or leaving your $$ in the Crypto Universe with something like USTether?

  • December 26, 2017 at 4:21 pm

    maybe invest in a future…. not just selfish greed. You are all about money, rather than a shift

  • December 26, 2017 at 5:35 pm

    Are you really sure to sell bitcoin if it hit $17K? Please make a new video about this?

  • December 26, 2017 at 6:41 pm

    Hardforks coming that’s why Bitcoin heading north now

  • December 26, 2017 at 11:34 pm

    Is Etoro not a good platform to use for crypto?

  • December 27, 2017 at 4:47 am

    17k soon today. already 16400$ now. Waiting for your video to confirm 😃 😄 😁 😆.

  • December 27, 2017 at 6:46 am

    you’re going to be deleting this video in a few days. takes alot of confidence to post this though =)

  • December 27, 2017 at 6:49 am

    all your reasons for selling are all subjective. no indicators are mentioned at all. not even fibs. LOL jesus

  • December 27, 2017 at 9:58 am

    I totally suck at timing the market. I get reminded of that every time I try a stunt like you are going to attempt. I’ll just hodl for the coming years.

  • December 27, 2017 at 11:00 am

    The title should be “Why I’m a retard”

  • December 27, 2017 at 12:32 pm

    If you sell your BTC what do you sell them into?

  • December 27, 2017 at 1:09 pm

    is youtube insane? i am not subscribed to this channel but youtube just put this video in my notifications

  • December 27, 2017 at 7:07 pm

    novogratz selling some at 10k and now saying he sees it going back to 8k is a tell. a whale has spoken!

  • December 27, 2017 at 7:25 pm

    This is all technical trading advice. For people who don’t know, google technical vs fundamental trading…

  • December 28, 2017 at 2:08 am

    I aint investing in things that went mainstream. Tv, newspapers are always reporting over bitcoins. Nothing on tv is in the best interest of citizens.

  • December 28, 2017 at 4:35 am

    Love this channel. I think bitcoin will dip again before going higher.

  • December 28, 2017 at 3:30 pm

    Na, money will come back in first week of new year. Profits were taken. You don’t take big profits then not get back in.

  • January 3, 2018 at 6:37 am

    Its a short new year hype it will tank down end of january in my opinion

  • January 7, 2018 at 8:46 am

    ………and crypto investor ‘YOU’RE FULL OF SHIT” it was on a rise 11/28/17 from 10k. Watch out for this guy folks, he’s gas lighting you to line his pockets

  • January 10, 2018 at 9:15 am

    hey man, first please don’t bother yourself with comments, this market is fulled with emotional and inexperienced people who don’t want to hear, about correction, pullback, bubble and etc. They just want to hear good news and that every thing goes up forever. This video was amazing, I was thinking about this video all the time, and my eyes were on the market. Keep up the great work, much Love

  • January 21, 2018 at 1:06 am

    Can you look at bitcoin charts again and tell us what is happening ? THanks

  • January 21, 2018 at 10:30 pm

    he was correct

  • January 31, 2018 at 10:31 pm

    you were right, 17,4 was the max, now its dumping

  • February 19, 2018 at 11:49 am

    Great vids, and comment section is telling me even more than the vids that the market has been taken over by really dumb ppl. It will be an expensive lession for many

Comments are closed.