Topic: Been here before. - page 4. (Read 5208 times)
it is a good thing, that i have to hold my coins minimum for 12 months because of tax issues in my country. after a year of holding, every profit is taxed with 0%. that means i have no other choice than hodling till summer 2015.
Bulls are now making threads to comfort each other and convince themselves that this has all happened before and everything is totally okay as long as they keep the faith. This tells me that we're in the "fear" stage, if you believe in that type of thing. and if that's the case, I believe despair is next.. perhaps when we break $266. Things will get ugly here.
The past stuffs don't guarantee future stuffs being the same, but they can tell us about the possibilities of the market.
We've seen the crash then recover to higher before, so it is possible to happen, but there is always a chance of it don't. Put either possibility as impossible is equally wrong
Bulls are now making threads to comfort each other and convince themselves that this has all happened before and everything is totally okay as long as they keep the faith. This tells me that we're in the "fear" stage, if you believe in that type of thing. and if that's the case, I believe despair is next.. perhaps when we break $266. Things will get ugly here.
anything below 600 is a great price to buy. now? a no brainer, just basically free money for you. worrying? let fallling and other trolls do that, I'm fine
But it is below 500 already, what do you think?
anything below 600 is a great price to buy. now? a no brainer, just basically free money for you. worrying? let fallling and other trolls do that, I'm fine
I remember feeling a similar sentiment in June of last year. The feeling that BTC was over-valued and it would keep falling with no end in sight. I remember speaking with a client over the phone about the continually falling price. It was about $60 and he just had to get rid of his. He couldn't hold it out. I wish I could have encouraged him not to liquidate at that point, but honestly, my spirits were low as well. Fortunately, I held my coins, as always.
After selling the August 2012 mini-crash, I learned my lesson. It really does take a few of these cycles to work up the nerve to hold through one. For those of you who have been through it, there is no convincing necessary. For those of you who haven't been around long enough to have the experiences yourselves, I'm not sure I can convince you. But when you feel the most despair is almost always the best indicator of the bottom.
After selling the August 2012 mini-crash, I learned my lesson. It really does take a few of these cycles to work up the nerve to hold through one. For those of you who have been through it, there is no convincing necessary. For those of you who haven't been around long enough to have the experiences yourselves, I'm not sure I can convince you. But when you feel the most despair is almost always the best indicator of the bottom.
Indeed although at these times I'm trying to do a complex thing
Following my emotions to where I feel the most despair and then with that fear in mind buying about another sizeable amount of bitcoins
That said I have a hard number as well for that in case it reaches there that I will definitely enter at but until it reaches that point trying to follow market sentiment remains a large challenge.
... It really does take a few of these cycles to work up the nerve to hold through one....
That's probably (unfortunately) true for many people. Personally, I don't understand how anyone (at least any non-day-trader) could buy bitcoin without a solid long-term investment thesis to guide them, but whatever. Here is such a thesis for those who need one: http://honestnode.com/bitcoin-fair-value-a-first-assessment/
That's a great assessment. I got into bitcoin very slowly because my curiosity was piqued, not because I fully understood it. As my understanding continues to develop, I continue to become more invested. One beautiful thing about Bitcoin is the more you learn, the more you realize the applications of blockchain technology are extensive and beyond whatever we are imagining today. As the price swings wildly, I reflect that the true value is in the knowledge that we have gained. And we can apply that knowledge in whatever way is most valuable to our own personal intentions and desires. Even if that knowledge means nothing more than having the understanding to not walk away when others are feeling despair.
... It really does take a few of these cycles to work up the nerve to hold through one....
That's probably (unfortunately) true for many people. Personally, I don't understand how anyone (at least any non-day-trader) could buy bitcoin without a solid long-term investment thesis to guide them, but whatever. Here is such a thesis for those who need one: http://honestnode.com/bitcoin-fair-value-a-first-assessment/
This time can be quite different.
Price at 60 required much less money infusion to hold the price and pump it higher.
At 500, it will require much more money infusion just to keep it stable.
Price at 60 required much less money infusion to hold the price and pump it higher.
At 500, it will require much more money infusion just to keep it stable.
Could have been said of every higher price level to this point.
I remember feeling a similar sentiment in June of last year. The feeling that BTC was over-valued and it would keep falling with no end in sight. I remember speaking with a client over the phone about the continually falling price. It was about $60 and he just had to get rid of his. He couldn't hold it out. I wish I could have encouraged him not to liquidate at that point, but honestly, my spirits were low as well. Fortunately, I held my coins, as always.
After selling the August 2012 mini-crash, I learned my lesson. It really does take a few of these cycles to work up the nerve to hold through one. For those of you who have been through it, there is no convincing necessary. For those of you who haven't been around long enough to have the experiences yourselves, I'm not sure I can convince you. But when you feel the most despair is almost always the best indicator of the bottom.
After selling the August 2012 mini-crash, I learned my lesson. It really does take a few of these cycles to work up the nerve to hold through one. For those of you who have been through it, there is no convincing necessary. For those of you who haven't been around long enough to have the experiences yourselves, I'm not sure I can convince you. But when you feel the most despair is almost always the best indicator of the bottom.
I think everybody has to go through some "cycles" to gain the courage to hold bitcoins.
I think it depends on how long you'd been around bitcoin. I'd that same feeling back in 2011 when it drop from 32 to 3 USD in a matter of a couple of days...
A couple of days
As I recall it took months to get to $3 (like about 6 mths).
Sorry if my memory isn't that accurate. But I looked up the data:
June 8-12 2011:
~32 to ~10USD
Drop: 68%
November 2011:
2 USD
Total drop: 94%
This article helps:
http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/
EDIT:
Funny to note this of that 2013 article:
Quote
Perhaps we won’t see Bitcoins worth $260 again until 2015. Or ever.
"If bitcoins are worth $500 in 2018, we’ll look back at Wednesday’s sell-off as a freak event that (like the other crashes that came before it) temporarily halted the rise toward the currency’s real value. "
I guess we beat his expectations by a good 4 years
Honestly though, I remember at $1000/coin wishing that I could have another chance to buy some more coins earlier on. Well here is that opportunity I was hoping for. I believe in the long term use of bitcoin and I will exchange my fiat for it accordingly. 
I think it depends on how long you'd been around bitcoin. I'd that same feeling back in 2011 when it drop from 32 to 3 USD in a matter of a couple of days...
A couple of days
As I recall it took months to get to $3 (like about 6 mths).
Sorry if my memory isn't that accurate. But I looked up the data:
June 8-12 2011:
~32 to ~10USD
Drop: 68%
November 2011:
2 USD
Total drop: 94%
This article helps:
http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/
EDIT:
Funny to note this of that 2013 article:
Quote
Perhaps we won’t see Bitcoins worth $260 again until 2015. Or ever.
I think it depends on how long you'd been around bitcoin. I'd that same feeling back in 2011 when it drop from 32 to 3 USD in a matter of a couple of days...
A couple of days
As I recall it took months to get to $3 (like about 6 mths).
This time can be quite different.
Price at 60 required much less money infusion to hold the price and pump it higher.
At 500, it will require much more money infusion just to keep it stable.
Price at 60 required much less money infusion to hold the price and pump it higher.
At 500, it will require much more money infusion just to keep it stable.
I remember feeling a similar sentiment in June of last year.
I think march this year is a more recent example...
I think it depends on how long you'd been around bitcoin. I'd that same feeling back in 2011 when it drop from 32 to 3 USD in a matter of a couple of days... imagine if I sold out back then!
But last year and March and now... I just keep calm. Already used to it.
And people say that today Bitcoin is volatile. That was 90% fall in 3 days, impossible to happens today. At least now we can see the bad signs coming and get out with little to no loss.
And I would say April - May as last crisis we have, we visited the 300's and most of time we hoovered over the 400's, with one fake recover to the 500's. Until we recovered to the 600's again
I have the same feeling. Although, it seems like this drop has spooked more people than the March drop. Probably because we picked up a lot of new buyers in March. Wouldn't be surprised if a lot of this new money is selling now in hopes of buying back in lower.
Anyway this seems like a good prerequisite for an eventual rally. We'll never hit a new ATH or go upwards in any significant way when everyone is expecting it
Anyway this seems like a good prerequisite for an eventual rally. We'll never hit a new ATH or go upwards in any significant way when everyone is expecting it
I remember feeling a similar sentiment in June of last year.
I think march this year is a more recent example...
I think it depends on how long you'd been around bitcoin. I'd that same feeling back in 2011 when it drop from 32 to 3 USD in a matter of a couple of days... imagine if I sold out back then!
But last year and March and now... I just keep calm. Already used to it.
I remember feeling a similar sentiment in June of last year.
I think march this year is a more recent example...
I remember feeling a similar sentiment in June of last year. The feeling that BTC was over-valued and it would keep falling with no end in sight. I remember speaking with a client over the phone about the continually falling price. It was about $60 and he just had to get rid of his. He couldn't hold it out. I wish I could have encouraged him not to liquidate at that point, but honestly, my spirits were low as well. Fortunately, I held my coins, as always.
After selling the August 2012 mini-crash, I learned my lesson. It really does take a few of these cycles to work up the nerve to hold through one. For those of you who have been through it, there is no convincing necessary. For those of you who haven't been around long enough to have the experiences yourselves, I'm not sure I can convince you. But when you feel the most despair is almost always the best indicator of the bottom.
After selling the August 2012 mini-crash, I learned my lesson. It really does take a few of these cycles to work up the nerve to hold through one. For those of you who have been through it, there is no convincing necessary. For those of you who haven't been around long enough to have the experiences yourselves, I'm not sure I can convince you. But when you feel the most despair is almost always the best indicator of the bottom.
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