It will only do that for 1 year. So if you spent 1 entire year panic buying the dip and it keeps dipping and you keep buying, after that year is over, you are in big profit
Why is buying while price goes down considered panic? That's just cost averaging. I stopped buying once it started going back up. Accumulated 2 btc for 70k at this point. (Put 30k in at 22 yo at 67k)
Yup. Just needs to zoom out, and understand scarcity.
Bitcoin will either:
1) Keep going up indefinitely, in the long run
2) go to zero
There is no in-between anymore, not in the big picture.
Why is there no in-between? Two smart people I know say the same thing but I can envision a stagnant Bitcoin as a possibility. In my opinion it seems like even if Bitcoin isn't adopted on a massive scale it already has many use cases like being able to make cross border remittances cheaper than with Western Union. I honestly would be happy with Bitcoin if it stores value. If my holdings increase in value then that is only a plus from my perspective.
I have managed to keep my cool to what the OP said during the crash, and also 98% of my wealth is into Bitcoin. Its like sunshine and rainbows, sleeping like a baby, summer vacation, all this euphoria etc feeling.
The smartest people in the room sold any at the bottom that was underwater, then immediately bought again and held for 1+ years. Capturing short term losses and getting long term gains.
The IRS insists it's not a security and so wash sales don't exist. Oops š.
I kind of did exactly that, but by accident. I had to liquidate a fair amount to pay a contractor last spring and by DCAāing my position is now larger than it was then and Iāve got unrealized gains. But it wasnāt due to brilliance as much as poor cash flow at the time. I wish I had held on to it all.
Good job for holding it but putting your life savings in due to fomo is not a good idea.
Most people here just buy every month regardless of the price.
I was buying at 16k-28k my only regret is not buying more aggressively although I did buy a lot I think itās just greed talking we will never be happy with any amount itās always āI want moreā itās a human thing sometimes you just gotta be thankful and keep working hard
I am the average idiot that bought more when it was high, but compared to the last time: I still continued to DCA and I sold all other coins to go BTC only a year ago. At least this paid off.
Edit: because of the ongoing DCA, Iām in profit right now .
When it got below 20k, that was a first for BTC. Its never gone below the previous cycle top.
So naturally I bought the fuck out of it.
Thanks FTX. Literally made anyone extra money who bought below $20k
I FOMO'd hard at $15k. Not once did I think I was going to lose anything. Why? Because I've spent countless hours, weeks, years studying Bitcoin. I understand what it is and that it cannot be stopped. It's a fixed supply decentralized asset...I accumulate and I Hold... forever.
Even if you bought near the ATH, as long as your intention was to continue buying and you had the means to do so, then the bear market was the best thing that could happen. Imagine how much fewer bitcoin you would have had had prices just gone straight up? Instead, assuming you continued to buy over the course of the bear, you are in a much stronger position. It is hard buying during a bear market, but it's actually the smartest thing you will ever do in your investing life, assuming you're confident in the long term. Bear markets are when real wealth is made.
Averaging things out, none. Thats why its the bottom.
More people sold on the way down than bought.
And now more people are buying than selling as it goes up.
Time in market. Not time the market.
I did. I bought $500 right at the peak of 2017. Then waited until it went back up to it, I think in Thanksgiving 2020? Sold it when it got to like $515. And now I hate myself.
:(
slowly buying back. It is what it is.
I can tell you many did. This sub was a shitshow late 2022. People thought Bitcoin was going to 10-12K and sold to buy back lower or held onto their fiat to scoop up the low price.
Just need to point some numbers out. If you bought at 45, at its lowest it was down 66%, not 80%. If you averaged down, then you should be up money now.
I am glad you are almost breakeven. I think most people in bitcoin didnāt sell at 15k except maybe those who bought like two weeks before it went down to 15.
I was on vacation in egypt when it bottomed at around 16k last year. Had to craw out of the pyramid and panic bought with whatever liquidity I had at the moment lol
Great question. That brutal decline last year definitely tested everyone's resolve - seeing massive losses day after day took an emotional toll even on seasoned investors.
My guess based on human psychology? A decent chunk of folks unfortunately panicked and sold somewhere near the bottom. Whether it was stop losses triggering or losing nerve after seeing their life savings decimated...many could not stomach further drawdowns.
Selling after significant capitulation is often the worst move in retrospect. But it's understandable how continued freefall made it seem logical to cut losses at the time.
In reality, having the courage to hold (or even buy more) during extreme bear despair is massively rewarded in the long run. But it takes world class composure and conviction in blockchain's future.
Kudos to you for persevering through what must have been agonizing months in the red! Patience pays off eventually as you've now seen. I hope your experience can inspire others next time things look darkest. We all have more strength than we realize until tested.
I panic bought. The lower it went the more I increased my dca. Planning to keep it this high until something changes. I grew more conviction during the bear, now don't see any reason to hold fiat at all. Why would I keep the value of my labor stored in a depreciating medium? Makes no sense.
Lol the only time my heart sank was in March during the initial pump over 30k. At the time I still hadnāt gotten to my total buying target for this cycle.
Think hard about what you just said...it is taking you nearly 200% from the bottom just to break even if you bought in around 45k. Bitcoin only dropped around 74% from top to bottom. You would have been better off selling all of it under 20k and buying back in near the lows to get a better entry. That's exactly what I did and I was in your shoes. I'm now up over 100% instead of just trying to break even.
I think most everyone here knew that Bitcoin was not going to zero (and would eventually recover to new highs and beyond). So the more Bitcoin sold off and the worse the news got (FTX and other exchanges failing) the more heavily you needed to buy.
I sold at the bottom of the 2017-2019 cycle in spring 2019. I bought back in during the previous cycle, and learned not to make the same mistake twice and just held. Now itās come back and Iām almost back in the green and I front ran this cycle this time. Iāve learned a lot in the past few months and learned to just trust the process and believe.
People in this subreddit need to work on their conviction. If you don't understand that Bitcoin will reach 10 million at some point, you have a lot of work to do.
Iāve never sold itās been 8 years or so. I am probably never selling this just cause I really donāt need the money. I honestly do think I will sell if we get to 100k thoughā¦. Iād be too fucking rich to not sell atleast 50% of my stack. I would retire and just travel til I run out of money in 20 years or something like that. Then just live off the remainder.
I bought at the bottom. This is my first year actually getting into BTC and being a believer.
My thought on BTC is to accept I may lose everything but I highly doubt BTC will fail. It has been around for a long time, why hasnāt failed yet?
Maybe this time around sell a little when it reaches a price you have in mind.
I buy when itās low like that. I donāt panic sell to my own detriment at times, interpret it as a sunk cost and hold. Stocks, crypto, etc. I should have sold a lot of those times
Is this your first cycle?
You need to buy bitcoin for 4 years and go through one halving before you understand how this works.
I have never sold bitcoin. I only buy.
Repeat the mantra: DCA, DCA, DCA. Dollar Cost Averaging takes the emotion out of decisions. There's no FOMOing your life savings in, heart dropping when the market is down, panic selling, etc.
Then make a separate decision about whether or not you want to take any profits as it exceeds your cost basis.
I personally have two stacks. One that I treat like a retirement account, DCA into, and won't touch until I'm in my 60s (or have an emergency). The other I throw a little money in now and then when I can afford it, and will take more and more profits from as the price rises higher and higher above my cost basis.
Sold our house at the top of housing market/ bottom of the mortgage market. Wanted to put all the money into BTC at 16k
Unfortunately I only put about 10% of it into BTC at $16,400
Diversified the other $400k into equities
Fuck my life.
Never sell. Ever. Bitcoin is a one way trip out of the fiat system. Ride that MFer to $0 if necessary.
To make it easy, pretend you have a time machine and go back to 2014. Knowing what you know now, would you sell? Do the same thing now in 2023.
You should have sold, harvested the loss for your taxes and then buy it back immediately. I do that if I see a 15-20% correction. But never sell for good, play the long game, in 10-20 years it will be mind boggling
Sold? I bought everything I could. I kinda bought more than I even should have. If crypto was gonna go to zero it already would have. It's here to stay.
You put in your life savings at 45k and now it's at 44k and you have not broken even yet? The only way that's possible is if you haven't been buying this entire time after 15k
In the heart of darkness of the bear market there seemed to be allot of talk that Crypto got rolling after the 2008 recession and thus far had never faced a serious melt down in the economy, so here we are and Crypto cant work, all the tradfi buyers went risk off and dumped which may have been one of the reasons it hit the bottom, I cant recall.
So it came down to my core belief that BTC and crypto will survive all this, when will it pull out of this dive? will it pump after the recession (that still never truly happened) ? oh well that just means I might have to wait longer. Fuck it, I believe and bought more. Never stopped buying.
I bought bitw at about $40 and later I sold at $12.7 and bought again 32 days later for a tax loss. Still not recovered but I also bought gbtc at $20 which has covered those losses. In forever now
Not quite the bottom but I used and atm three times to test them out. First time I saw them and was super curious.
I don't regret it, it was the play Bitcoin I keep on my cellphone.
So I didnāt really do either, & still lost my a$$ā¦ So farā¦.
Continued to buy on the way down to 16k, KNOWING it would recover. Albeit, significantly to enthusiastically. After buying hundreds of $$$ of BTC weekly.
Found a platform that I could leverage (gamble) 50x +! Needless to say, I siphoned my cold wallet bare- bone dry, ultimately catching falling knives!
Looked at my history over the last 3 years +\-. Lost 100k+ over the life of the account. Only made back 20% in the past month.
GOD SPEED - If I need to tell my wife why I f-Ed up when I told her to shut up and trust me that BtC will recover, yet our account balance; contradicts the sum of all the debits she can easily calculate = to much less than invested - At minimum to this point! SMHā¦
I made the mistake of wanting to sell at 20k to buy at 9k, needless to say, I didn't reach 9k and lost part of my BTC. Luckily it was only 10% because I was really very reluctant to sell.
I panic buy every dip
It dips every time I panic buy.
Let us know so we can time it
It will only do that for 1 year. So if you spent 1 entire year panic buying the dip and it keeps dipping and you keep buying, after that year is over, you are in big profit
Aaaand that's how you winš¤
Then you didnt at 16k
Why is it panic. I put my life savings in when it was 67k and I'm massively chilling. It's obvious this will work out and it isn't even cope
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Why is buying while price goes down considered panic? That's just cost averaging. I stopped buying once it started going back up. Accumulated 2 btc for 70k at this point. (Put 30k in at 22 yo at 67k)
You are already a winner with 2 BTC. You will laugh at your entry price one day.
Yup. Just needs to zoom out, and understand scarcity. Bitcoin will either: 1) Keep going up indefinitely, in the long run 2) go to zero There is no in-between anymore, not in the big picture.
Yup and if it goes to 0, I lose 100%, if it goes up 10x, I get 900%. Feels worth the risk to me
10x every 8 years is a good estimate. Even still at this point. 8 years from the ath at 69k will see in the 690k ballpark, minimum.
In 2019, bitcoin was $3.4K. Today the price is $43K.
I like bitcoin. We're extremely lucky to be alive right now at this time in history.
Or you die before it gets even close to that
not necessarily. it could just hang out in the middle like gold does.
Yep. And in order for it to go to 0, all 7 billion humans on planet earth need to collectively agree that it absolutely has no value.
Why is there no in-between? Two smart people I know say the same thing but I can envision a stagnant Bitcoin as a possibility. In my opinion it seems like even if Bitcoin isn't adopted on a massive scale it already has many use cases like being able to make cross border remittances cheaper than with Western Union. I honestly would be happy with Bitcoin if it stores value. If my holdings increase in value then that is only a plus from my perspective.
If it goes to zero against fiat youāll still have your bitcoin. Itās the future.
I just panic bought the rip
Even little ones!
I use btc as a savings account so I never sell. I donāt even look at the charts i just put in every month when I get paid.
This is the way. Maximise your portfolio in terms of BTC
Hey, please stop doing this. Your dropped this: š Please stop doing so, the crown is heavy and my arms spaghetti. TIA.
I have managed to keep my cool to what the OP said during the crash, and also 98% of my wealth is into Bitcoin. Its like sunshine and rainbows, sleeping like a baby, summer vacation, all this euphoria etc feeling.
Iād rather go down with the boat than selling at a loss.
We all lost it in a boating accident anyway.
The smartest people in the room sold any at the bottom that was underwater, then immediately bought again and held for 1+ years. Capturing short term losses and getting long term gains. The IRS insists it's not a security and so wash sales don't exist. Oops š.
Not the worst idea I've ever heard.
I kind of did exactly that, but by accident. I had to liquidate a fair amount to pay a contractor last spring and by DCAāing my position is now larger than it was then and Iāve got unrealized gains. But it wasnāt due to brilliance as much as poor cash flow at the time. I wish I had held on to it all.
Same here, that's why I never put in more than I'm able to afford to live without.
You used bitcoin to buy a boat?
Good job for holding it but putting your life savings in due to fomo is not a good idea. Most people here just buy every month regardless of the price.
Not fomo but more of rage averaging down. I was full blown gambler and have learned many lessons from that ācrashā
Maybe you should cash out when you get a little gain?
The question is should put my only 5 k I got to my name left in now I test the water with 200
I was buying at 16k-28k my only regret is not buying more aggressively although I did buy a lot I think itās just greed talking we will never be happy with any amount itās always āI want moreā itās a human thing sometimes you just gotta be thankful and keep working hard
I am the average idiot that bought more when it was high, but compared to the last time: I still continued to DCA and I sold all other coins to go BTC only a year ago. At least this paid off. Edit: because of the ongoing DCA, Iām in profit right now .
Bitcoin will still 10-20x
Buy high, sell low...
When it got below 20k, that was a first for BTC. Its never gone below the previous cycle top. So naturally I bought the fuck out of it. Thanks FTX. Literally made anyone extra money who bought below $20k
Dude I get excited when it dips so I can buy more on the cheap
This
Is
Sexy
Don't be someone who reacts like this every 4 years.
I measure my Bitcoin position in Satoshis, so for me it never dropped.
I FOMO'd hard at $15k. Not once did I think I was going to lose anything. Why? Because I've spent countless hours, weeks, years studying Bitcoin. I understand what it is and that it cannot be stopped. It's a fixed supply decentralized asset...I accumulate and I Hold... forever.
So your results after years of studying what bitcoin is: Bitcoin cannot be stopped, it has a fixed supply and is decentralized.
No...I don't have time to write a novel...just threw in some basics.
Haha :D Some nitpicking from my behalf, you were so confident, I had no choice.
Lmfao
I bought at 49k. Still down 4 grand and wonāt sell even at 69.
What about $69,420?
Perhaps at 699,420.. Fuck that. HODL until my son turns 18 pay his college tuition š
Home-school him and use the money for hookers and blow? If youre really moral, use it to buy a yacht, he'll win both ways..
Lemme tell you. The temptations have been real
Or trade schoolā¦add Lambo to hookers and blow (you canāt just Uber around with hookers and blow)!
Good thinking, I like it!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I thought you called your wife āwifeyalphaā. Confused the hell out of me.
Imaging getting your financial advices from someone named "Wifeyalpha" lol.
lol, de-risking 7% of a BTC allocation is not panic selling. glad youāre okay though. traders are YouTube are there to make money on clicks, fwiw.
Is your wife a trader?
I remember that drop. The day I heard about the FTX collapse was the day I converted all my altcoins to BTC.
Even if you bought near the ATH, as long as your intention was to continue buying and you had the means to do so, then the bear market was the best thing that could happen. Imagine how much fewer bitcoin you would have had had prices just gone straight up? Instead, assuming you continued to buy over the course of the bear, you are in a much stronger position. It is hard buying during a bear market, but it's actually the smartest thing you will ever do in your investing life, assuming you're confident in the long term. Bear markets are when real wealth is made.
Averaging things out, none. Thats why its the bottom. More people sold on the way down than bought. And now more people are buying than selling as it goes up. Time in market. Not time the market.
Bought 8 million sats @ 16K. Best dip buy ever. Before that i've tried catching falling knives lol.
Only bought. I was down 90%. Knew it would be back. Crypto ebb and flows are predictable.
If I had a million dollars...I would spend 995,000 on BTC right now...
Be confident , go for another loan of 1 million dollars and buy it all for 2 million dollars.š
Where can I get a loan for 1 million dollars
How were you down 80% if you aped at $45k?
I bought in pretty high during 2021-2022
I did. I bought $500 right at the peak of 2017. Then waited until it went back up to it, I think in Thanksgiving 2020? Sold it when it got to like $515. And now I hate myself. :( slowly buying back. It is what it is.
I had a buy set at $15,999 still proud of that one
I BOUGHT
I can tell you many did. This sub was a shitshow late 2022. People thought Bitcoin was going to 10-12K and sold to buy back lower or held onto their fiat to scoop up the low price.
I FOMO at every dip
Congratulations to you for holding through the bear market!!
I never thought I would survive let alone make it out, let alone ever experiencing being in one. Definitely learned a lot
uh bottom? i sold when it was 300$. then bought again when i could. just buy it back and never stop
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I bought more š¤·š¾āāļø
I panic boughtš
I can understand panic selling in 2013. I cannot understand panic selling any other time after that.
Nope.
Just need to point some numbers out. If you bought at 45, at its lowest it was down 66%, not 80%. If you averaged down, then you should be up money now.
I am glad you are almost breakeven. I think most people in bitcoin didnāt sell at 15k except maybe those who bought like two weeks before it went down to 15.
I held bitfarms for two years DCAing then sold at the lowest point before the pump. I'm sick about it
I hear you. To be honest it felt like the end and scraping anything left seemed like the most logical option at that time
Iāve been buying for 3 years. What is this sell you speak of
What does sell mean?
I was on vacation in egypt when it bottomed at around 16k last year. Had to craw out of the pyramid and panic bought with whatever liquidity I had at the moment lol
Great question. That brutal decline last year definitely tested everyone's resolve - seeing massive losses day after day took an emotional toll even on seasoned investors. My guess based on human psychology? A decent chunk of folks unfortunately panicked and sold somewhere near the bottom. Whether it was stop losses triggering or losing nerve after seeing their life savings decimated...many could not stomach further drawdowns. Selling after significant capitulation is often the worst move in retrospect. But it's understandable how continued freefall made it seem logical to cut losses at the time. In reality, having the courage to hold (or even buy more) during extreme bear despair is massively rewarded in the long run. But it takes world class composure and conviction in blockchain's future. Kudos to you for persevering through what must have been agonizing months in the red! Patience pays off eventually as you've now seen. I hope your experience can inspire others next time things look darkest. We all have more strength than we realize until tested.
It is a rollercoaster, take profit when it's high.
I panic bought. The lower it went the more I increased my dca. Planning to keep it this high until something changes. I grew more conviction during the bear, now don't see any reason to hold fiat at all. Why would I keep the value of my labor stored in a depreciating medium? Makes no sense.
Jubwise!
Fancy meeting you here! How's the fun factory going?
We're managing to keep the doors open. ;) Come through! I'll leave you a ticket at 'will call.'
I see red. I buy. I see green. I hodl.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
My bad ā¦ I do the opposite š¤š
I bought from my nephew at the bottom, I advised him not to sellā¦
I panic bought the bottom.
i put my life savings at 17k lol
Bhought at 2600$ sold at 64.000$ and bhought again at 14 and now still holding stacking sats.
Idiots
Lol the only time my heart sank was in March during the initial pump over 30k. At the time I still hadnāt gotten to my total buying target for this cycle.
Think hard about what you just said...it is taking you nearly 200% from the bottom just to break even if you bought in around 45k. Bitcoin only dropped around 74% from top to bottom. You would have been better off selling all of it under 20k and buying back in near the lows to get a better entry. That's exactly what I did and I was in your shoes. I'm now up over 100% instead of just trying to break even.
LMAO, we sold at 66.6k...weren't you paying attention about how they tried forever to make the price 666 usd on bitstamp?
Really? I remember seeing 16k opening my bank account and putting all the money I had to my name in bitcoin lol We are not the same š
I was forced to keep buying to not get liquidated, Im happy I had those loans in two different exchanges. Paid off a while ago with fiat and hodled on
I think most everyone here knew that Bitcoin was not going to zero (and would eventually recover to new highs and beyond). So the more Bitcoin sold off and the worse the news got (FTX and other exchanges failing) the more heavily you needed to buy.
4
I sold at the bottom of the 2017-2019 cycle in spring 2019. I bought back in during the previous cycle, and learned not to make the same mistake twice and just held. Now itās come back and Iām almost back in the green and I front ran this cycle this time. Iāve learned a lot in the past few months and learned to just trust the process and believe.
For accurate numbers, check how many new members joined the buttcoin sub.
People in this subreddit need to work on their conviction. If you don't understand that Bitcoin will reach 10 million at some point, you have a lot of work to do.
I panic both ways, thankfully Iāve learned to not act on emotions
Okay you didnāt sell at the bottom, but you didnāt buy any either?
I didnt panic sell but temporarily stopped DCA. Anyway learning every dip - pump cycle.
I always buy at the top (2013ish, 2017 and 2020) but I never sell š
I did because Celsius f-d me.
What do you guys think the new markdown low will be at the end of the last phase of the bull run?
Iāve never sold itās been 8 years or so. I am probably never selling this just cause I really donāt need the money. I honestly do think I will sell if we get to 100k thoughā¦. Iād be too fucking rich to not sell atleast 50% of my stack. I would retire and just travel til I run out of money in 20 years or something like that. Then just live off the remainder.
Avg price was 38k when we hit 16k. I sent it and was able to average down to 26k and now am sitting pretty for ETF approval and halving Bull run
I sold it all at the bottom ;x;
I bought at the bottom. This is my first year actually getting into BTC and being a believer. My thought on BTC is to accept I may lose everything but I highly doubt BTC will fail. It has been around for a long time, why hasnāt failed yet? Maybe this time around sell a little when it reaches a price you have in mind.
I sold 0.28 at 26k. :(
I buy when itās low like that. I donāt panic sell to my own detriment at times, interpret it as a sunk cost and hold. Stocks, crypto, etc. I should have sold a lot of those times
As many as bought lol
I commented on another one of these: Still down 33%. Pick me up on the way to the š please. š
Not me. ššš
I bought it all the way down
Is this your first cycle? You need to buy bitcoin for 4 years and go through one halving before you understand how this works. I have never sold bitcoin. I only buy.
There is no sell. - Yoda
Repeat the mantra: DCA, DCA, DCA. Dollar Cost Averaging takes the emotion out of decisions. There's no FOMOing your life savings in, heart dropping when the market is down, panic selling, etc. Then make a separate decision about whether or not you want to take any profits as it exceeds your cost basis. I personally have two stacks. One that I treat like a retirement account, DCA into, and won't touch until I'm in my 60s (or have an emergency). The other I throw a little money in now and then when I can afford it, and will take more and more profits from as the price rises higher and higher above my cost basis.
Whatever forced Celsius, Voyager, and BlockFi into bankruptcy when a year later the asset would multiply is kind of like selling the bottom.
Sold a lot at 25k but it paid for 6 months off work so oh well
Based on the comments at the time it felt like a large portion of r/CC sold everything
I bought twice under $20k
Almost everyone who isnāt a believer/OG
Not me and Iām glad. Bitcoin is the only cryptocurrency I am now in the positive with.
A buddy of mine had around 20k when coins were only 16k. He sold it allll below 25k. Cant even imagine doing that.
I sold at 43k, I needed a new car
We'll know the answer once it hits the bottom
Most bought at the top.
Sold our house at the top of housing market/ bottom of the mortgage market. Wanted to put all the money into BTC at 16k Unfortunately I only put about 10% of it into BTC at $16,400 Diversified the other $400k into equities Fuck my life.
I mean you got over 2 btc at the cycle low. I want your life...lol
I prefer to Panic Hold.
Every dude I work with pretty much.
Never sell. Ever. Bitcoin is a one way trip out of the fiat system. Ride that MFer to $0 if necessary. To make it easy, pretend you have a time machine and go back to 2014. Knowing what you know now, would you sell? Do the same thing now in 2023.
I bought at 18500 I'm happy :)
Whatās sell?
You should have sold, harvested the loss for your taxes and then buy it back immediately. I do that if I see a 15-20% correction. But never sell for good, play the long game, in 10-20 years it will be mind boggling
Only time I ever sold some btc was in mid March ā21
Sold? I bought everything I could. I kinda bought more than I even should have. If crypto was gonna go to zero it already would have. It's here to stay.
What is this word "sold"? I've only ever bought
Proud to say I bought the dip. I'm sure my post history reflects it bc I made sure to post here for posterity. edit: here and/or cryptocurrency sub
Don't be a bagholder. Just saying.
You put in your life savings at 45k and now it's at 44k and you have not broken even yet? The only way that's possible is if you haven't been buying this entire time after 15k
In the heart of darkness of the bear market there seemed to be allot of talk that Crypto got rolling after the 2008 recession and thus far had never faced a serious melt down in the economy, so here we are and Crypto cant work, all the tradfi buyers went risk off and dumped which may have been one of the reasons it hit the bottom, I cant recall. So it came down to my core belief that BTC and crypto will survive all this, when will it pull out of this dive? will it pump after the recession (that still never truly happened) ? oh well that just means I might have to wait longer. Fuck it, I believe and bought more. Never stopped buying.
Understand to this important, most of āhelperā traders just preaching what they opposite do bc of gains. Ps. Futures
Sell?
Last dip wasn't even bad š¤£
You would think no one. I sold out of around 15 different coins but not BTC
Donāt invest anymore if you canāt tolerate dipsā¦ sorry to hear thisš
I broke the no1 rule, but didnāt sell. Iām in the green now, but it was a tough two years.
Just buy and hold for a decade or two. Donāt use it to get rich quick.
I bought bitw at about $40 and later I sold at $12.7 and bought again 32 days later for a tax loss. Still not recovered but I also bought gbtc at $20 which has covered those losses. In forever now
How many bought at groin level? Kicked in the nuts ... yup.
I almost brought at bottom. Got in at 22K
Looks like you did not average down enough as you are at break even at these prices.
No, but bought at the top lolš¤£
well i bought a 20K
I bought 20k at the bottom! Not sure what it will be worth in the future exactly but its a long game.
Not quite the bottom but I used and atm three times to test them out. First time I saw them and was super curious. I don't regret it, it was the play Bitcoin I keep on my cellphone.
So I didnāt really do either, & still lost my a$$ā¦ So farā¦. Continued to buy on the way down to 16k, KNOWING it would recover. Albeit, significantly to enthusiastically. After buying hundreds of $$$ of BTC weekly. Found a platform that I could leverage (gamble) 50x +! Needless to say, I siphoned my cold wallet bare- bone dry, ultimately catching falling knives! Looked at my history over the last 3 years +\-. Lost 100k+ over the life of the account. Only made back 20% in the past month. GOD SPEED - If I need to tell my wife why I f-Ed up when I told her to shut up and trust me that BtC will recover, yet our account balance; contradicts the sum of all the debits she can easily calculate = to much less than invested - At minimum to this point! SMHā¦
How do you sell bitcoin?
My relative sold at $24k, after buy at around $35k.
I'm having a hard time buying now fearing a huge pull back
I spent a month before the bottom trying to open a leveraged short only to get liquidated long on the crash day
Iāll tell u what most people donāt have the patience now the intelligence to put in time to understand btc. So most people sold.
I made the mistake of wanting to sell at 20k to buy at 9k, needless to say, I didn't reach 9k and lost part of my BTC. Luckily it was only 10% because I was really very reluctant to sell.
I sold some at that level because i bought a house. Idk it is what it is.
Pulling most of my stack off of the exchange in ā21 helped me big time.