Topic: Bought my first BTC @ $4600, slightly worried - page 10. (Read 7868 times)

The biggest mistake is assessing a buy in terms of immediate result. Unless you want to day trade, the only relevant info is, at most, quarter-on-quarter change.

IMHO the fun in bitcoin is in trading (well, with a portion of your coins), but for situations like yours hardware wallet is a good idea. make sure to keep good backups though.

i made this stupid mistake twice, buying a lot in one go.

the first time i got a nice profit, but the second purchase (which i made some days ago) is getting bad due to this recent drop

all in all I´m about 10- 15% loss from what i invested, i dont worry so much because i´m hodling for couple of years at least, i just need to get rid of the bad habit of checking bitcoin price daily.... soon i´ll move all my coins to an hardware wallet and hopefully forget about it

The issue is there so many things going on in the Crypto-Currency market right now. From China ICO ban to fake FUDs, to Jamie Dimon of JP Morgan who calls Bitcoin as a fraud. I think bitcoin will certainly recover in time. All you need to do is hold your coin for now because the value will recover in time.

When you bought your bitcoin, you gave $4600 to someone who probably bought their bitcoin for $40. They are now happy and have your money and probably invested that money in the stock market or put it in a bank account.

You now own a number in a transaction list in a chinese controlled database (chinese miners have a majority of the hashrate and thus control the blockchain).

There is no law that says you ever need to get any value for what you bought. If you get nothing back for your $4600, there is nothing you can do about it and nobody owes you anything. When you deposit money in a bank, you are loaning money to a bank and legally, they are required to give you back your money with interest. When you buy a stock, you own a portion of a company that you hope is profitable and you legally own that portion of the company and it gives you various rights to vote, etc. (depending on the stock).

When you buy a bitcoin, you have no rights. You only have the hope you can sell it to someone else. You might be able to sell to someone for $1000 less than you paid for the bitcoin right now. But maybe if you go to sell on an exchange, the exchange will simply keep your bitcoin itself and shut down as MtGox did. Maybe you'll try to sell your bitcoin on a chinese exchange and the government will block it. Maybe the price will fall again before you sell it. And if there is someone with a billion dollars in bitcoin trying to sell their bitcoin, it will take them years to sell out and the price will continue to drop during that whole time.

I wish you good luck selling the number in a chinese database you bought to someone else for a higher price in the future.

Yes I would also worried if I were in your situation. But don't worried too much you will see your bitcoin value grow soon. but you have to keep your mind cool.

Just hold on to it. Bitcoin will get through all of this. It is just having a correction right now but after weeks it wil be back in the game again.

It's like when I bought an $8 bitcoin and then it dropped to $2. What was I thinking, bitcoin could never be worth $8.  

Please we do not need worry about the current price dump. If there is any potential adoption or bitcoin investment by whales on it means again bitcoin's price will be reach again to the next peak. I also feel worry because of it and there are so many thread created to speak about this dump today. Nearly 380$ price dumped from yesterday to now.

You have bought bitcoin, but just not at the right moment. Now the question to ask yourself is will that money that you spent on bitcoin ,won't cause you any trouble financially Like for compensating your expenses, if not I would suggest you to keep bitcoin for a few years from now don't worry about it at all. The price will go up and down because of many factors, but at the end of the day you don't have to worry.

Glad to see you bought 1 BTC and wish you a good luck for your future work. Ok come to the main point did you think about what to do next
before buying btc ?.  Have you any plan for btc ? I Suggest you keep it until the bitcoins go up. Since the China Banned the BTC which takes the BTC down. Just wait for a week or month.

Bitcoin gained 400% in this year and gave 13% in a month below 4k but prepare for landing as below 3k strong resistance levels. You got your lesson as investing in piece rather than buying lump-sum amounts.

Bitcoin price increase very soon. so definitely you get profit from bitcoin. just hold it!!!

What is reason makes you are sure the price of Bitcoin reaches to $10,000 in 2018? I see you do not have any proof or reason can convince me, your said look like as predict from a dreamer and have a strongly faith in future of Bitcoin

See it at $3944 now so it is going back up as I think I saw someone say it dipped back to $3800 earlier last night.
It is amist all the fud from china exchanges going down by governments there according to Pboc announcements and also the news from J.P Morgan Ceo saying that bitcoin is a fraud. lol

wiser person will not allowed to sell a their loss its better to hold it and never to think to panic while the crash is still on going, I might suggest to think
about your position about this investment if you are a long term holder just keep it inside your wallet and stop looking inside exchange do your routine
and stay calm.

OMG, first lesson I always give all, never buy entire Bitcoin at one go, we'll what's happened you can't change it, but you should be strong, currently it's down to China but it's shall bounce back very soon and strong, what I can say is buy small dips of Bitcoin so over a time you shall have a average. Time is difficult but I am sure Bitcoin will rise, it has to rise, I am very positive on this, just be strong and don't give up.

It is interesting to read these comments.

Sounds to me, that most writers are super duper  optimistic about the value of bitcoin, which is good.

You should remember that a few months ago bitcoin had NEVER been over 4000$. We have just had an all time high for bitcoin.

I think it is perfectly natural, if bitcoin would go back to 2500$ level for a while. It wouldn't even be a "crash" if you can look with a little longer time-frame.

But in the long run, if the bitcoin scaling and transfer fee problems will be solved and if governments wont start attacking bitcoin, the price will go back to over 5000$ levels.

I feel you man, I invested some more fiat after this first dip, but the dip kept dipping, I'll just hold for now, it was extra funds made from other trades so no harm done...

I must say I was surprised when I saw the price today of ~$3800 (preev.com) but you have absolutely nothing to worry about, price will be back up soon. We've had corrections, bubbles, price dropping by a significant amount afterall. Hold what you have and wait, the price will go over $4600 for sure.

It's always the same -- when the price continues to increase rapidly, people are extremely bullish and throw with $10,000 predictions, but as soon as the market is heading down, these bullish thoughts are gone. People get distracted far too easily, and that directly shows that they landed in the wrong place. Situations where people buy at near peak levels are quite common, but the most important thing is to stick to what you did -- panic selling is never a good idea. Instead, use the lower rate to buy more coins and get your initial purchasing price to decrease this way.