PANIC! Should I sell my shares and get out??

[Edgar R. Zakarian]

Hi guys,

 

I've bought some LKK coins. 

As I can see, the market is bleeding.

Ethereum and LKK are both going down in price after the sudden flash crash.

 

Some people are saying the mining bubble is about to burst.

What does this mean?

 The prices will get a free-fall? 

Or will the prices rise if people stop mining? ->Low supply -> High prices?

 

Should I sell and get out? Got like 700€ in there.

[Trustadz]

Get out, watch it, maybe invest it later or in something else. Looks like you feel it's not going the right way, trust your gut sometimes.

Thing is, it might go down, it might go up. But if you get out now you know for certain what you have. I usually get out after 2 days of decline (or if 1 day is to much for me)

[Teddy07]

How are we supposed to know the answer?

 

Investing is like the stock market. Sometimes it goes up sometimes down.

[Turtleloverdyl]

No way dude, the downturn right now in ethereum is due to investors saying that they don't want to invest more into the currency until they can increase their mining capacity, so wait a couple weeks and ehtereum will be rising again.

[Lurick]

People got spooked by the crash, it's happened with the USD and other currencies before too. Just give it a couple weeks and things will even out and be on the up again.

[Edgar R. Zakarian]

1 minute ago, Lurick said:

People got spooked by the crash, it's happened with the USD and other currencies before too. Just give it a couple weeks and things will even out and be on the up again.

Huh, okay. Thanks. But what do people mean by the mining bubble is about to burst?

2 minutes ago, Turtleloverdyl said:

No way dude, the downturn right now in ethereum is due to investors saying that they don't want to invest more into the currency until they can increase their mining capacity, so wait a couple weeks and ehtereum will be rising again.

I like the idea behind Lykke, and their roadmap. They follow pretty much the same pattern as Ethereum, in regards to stock fluctuations. I hope they'll rise like Ethereum might in a few weeks.

5 minutes ago, Teddy07 said:

How are we supposed to know the answer?

 

Investing is like the stock market. Sometimes it goes up sometimes down.

Because people know what is going on around the world. Some knew that when BANCOR came, the stock for ethereum would plummet. So they bought A LOT when it dropped. Eventually a few days later it equalized. 

5 minutes ago, Trustadz said:

Get out, watch it, maybe invest it later or in something else. Looks like you feel it's not going the right way, trust your gut sometimes.

Thing is, it might go down, it might go up. But if you get out now you know for certain what you have. I usually get out after 2 days of decline (or if 1 day is to much for me)

But you lose money every single time you buy/sell, correct?

Unless you follow it by the second and buy / sell at JUST the right time.

[Lurick]

Just now, Edgar R. Zakarian said:

Huh, okay. Thanks. But what do people mean by the mining bubble is about to burst?

I like the idea behind Lykke, and their roadmap. They follow pretty much the same pattern as Ethereum, in regards to stock fluctuations. I hope they'll rise like Ethereum might in a few weeks.

Because people know what is going on around the world. Some knew that when BANCOR came, the stock for ethereum would plummet. So they bought A LOT when it dropped. Eventually a few days later it equalized. 

But you lose money every single time you buy/sell, correct?

Unless you follow it by the second and buy / sell at JUST the right time.

 

Some people think that mining is just a fad and will die off after a period of time, or it's over valued and will lose a lot of value before come to a more realistic value.

[Edgar R. Zakarian]

But does the ethereum price go up or down if people stop mining It ? Which probably will happen soon. 

[Daniel644]

the bubble burst being referred to right now is how Etherium is getting ready to switch to where it won't be profitable to mine using GPU's, best to hold out long term, look at Bitcoin, remember the first time it's value spiked then nose dived? well now it's worth like 8 times what it was before that price bubble burst, if you cashed out then you are out thousands of dollars, unless you just NEED the money I say ride it out, put your money into one of the good coins, I say buy a ton of coins in an up and coming coin and ride it out, if that guy goes up in the long run you can see huge returns, but if you are afraid of losing it then cash out and run, no one can know the future or we would have all bought bitcoin at 12 bucks a piece and become millionares like that one high school dropout.

[Mihle]

28 minutes ago, Edgar R. Zakarian said:

But does the ethereum price go up or down if people stop mining It ? Which probably will happen soon. 

Someone will always mine. It will never compleatly stop getting mined as long as it has some value. How many that mines doesnt really matter that much on the value, what matters is how many that want to buy the currency, compared to how many that want to sell it.

 

[Edgar R. Zakarian]

13 hours ago, GamingMemeKing said:

Ethereum needed a correction. It was overdue. It increased too fast.

 

It will drop, i can see it dropping to $200 even and staying around there for a month. After the 1st of August, depending on the Bitcoin decision, it will probably increase to $300+ again.

 

Bitcoin has a big influence on the other alt currencies.

 

I won't advise or recommend, i know what i would do, but it is up to you to make your own informed decisions. Once you can start doing this, it'll making trading easier. 

 

Good luck!

I've cashed out, so that I didn't lose any more than I set in. I got 703€ back, i had set 700 in. So I guess I will wait til July and buy when it's lowest, and try to wait for the peak in August.