christostock wrote:I have a question that may or may not be answered here???
With BTC Spot down - how much price difference would you sell your BTC for
lets use $10500 as BTC spot
would $11000 make you sell 1??
would $10700 make you sell 1??
would spot plus 3% or 4% or 5% convince you to sell?
Or would you need more than any of those numbers?
Just trying to understand better what value people put on their holdings
Of course I can only speak for me personally, but the question itself has underlying factors. If a person here is willing to give me $11k, and I have USD sitting at GDAX where I can immediately buy 1 BTC at $10.5k I would do it. I just made $500 and have not lost any BTC. At some point, that gap isn't worth my time though. I'm not going to go through that hassle for $30, and all the tax consequences it entails. For me, it would probably be about $300 minimum. If I don't have the USD on GDAX and I have to transfer funds from my bank account and wait 7 days, then the gap must be larger to account for the variation, volatility and risk that I have to buy back the BTC higher. I would say about 8% minimum. But at that point, most people wouldn't do the trade anyway so it is a moot point.
This is another reason why I advise people to not put in more than they can afford to completely lose. That creates strong hands during these dips. And if a person has already cashed out their initial buy-in, it is really just a free roll at that point as well. If you put yourself in a position where you don't need to sell for any particular reason, then you can hold easier, or merely sell the highs (and buy back the lows if desired), or the ultimate ideal: spend your crypto for goods and services when you want to in the future.