HODL.... if you bought in order to flip it for fiat gains, then you're in the wrong place and misunderstand what cryptocurrency is about.
You wanna make fiat? Go to the stock market...
Topic: Bought my first BTC @ $4600, slightly worried - page 11. (Read 7868 times)
Just look at it this way: Did people that buy at $1300 back in 2013 feel really bad for a long time? yes they did.
Do people nowadays dream to buy bitcoin at $1300? yes they do.
In Bitcoin you never lose money if you are patient. Sooner or later the price will go higher than where you bought at, you just need patience, and most people simply aren't cut to hold long term on the red. Don't be the guy that sells at a loss.
21 million bitcoin. 7.5 billion people. Do the math.
Lots of nice words, some silly ones too, in this thread.
Reality is just a little simpler yet more complicated.
You bought "high", as in you bought during a bullish moment of growth. That's only a mistake in some very specific cases, so unless you used your rent/food money to buy those coins, and unless bitcoin died tomorrow (hint, that won't happen), you did fine. Not brilliant, but fine.
Now how to deal with the current collapse (other hint, you've not been in a crypto crash until you lose 60-80% of your potential value)?
This answer is where the simple yet complicated decisions come, and it's up to you.
Did you use money you needed in order to live to invest in bitcoin? Sell, now, at a loss, and don't come back until you've got money you can afford to light a cigar with.
You will rot your blood if you play with money you need to live off.
Did you buy these coins with a large fraction of your "superfluous" wealth? Then hold tight onto them, chances are very high that eventually price will increase above and beyond your entry point. Is it guaranteed? nope. Do we have a timeframe? Sure. Something between a day and a decade.
Do you have a considerable amount of superfluous funds you are interested in using to invest? One possible strategy is to lower your break-even point by purchasing additional BTC at price-points lower than you did when entering. Word of warning, this increases your exposure and potential loss, and needs to be done with care. a possible strategy is to set yourself budgets. Say... I will purchase 0.1 BTC if it hits 3900, then another 0.10 if it hits 3800. then 0.2 at 3500. maybe finish with 0.3 at 2500 and 0.2 at 2000 as placed orders in case of a full correction or flash crash.
These are just some of the options you've got. Just keep in mind that if the value of bitcoin worries you, you're playing the game wrong.
We all need to be here with the knowledge one day our crypto networth might become irrelevant, valued at 0. This resignation is what lets you act rationally and clinically when investing. Also, and learn this quick, never keep all your eggs in one basket. you win some, you lose some. be sure to always have something else.
Reality is just a little simpler yet more complicated.
You bought "high", as in you bought during a bullish moment of growth. That's only a mistake in some very specific cases, so unless you used your rent/food money to buy those coins, and unless bitcoin died tomorrow (hint, that won't happen), you did fine. Not brilliant, but fine.
Now how to deal with the current collapse (other hint, you've not been in a crypto crash until you lose 60-80% of your potential value)?
This answer is where the simple yet complicated decisions come, and it's up to you.
Did you use money you needed in order to live to invest in bitcoin? Sell, now, at a loss, and don't come back until you've got money you can afford to light a cigar with.
You will rot your blood if you play with money you need to live off.
Did you buy these coins with a large fraction of your "superfluous" wealth? Then hold tight onto them, chances are very high that eventually price will increase above and beyond your entry point. Is it guaranteed? nope. Do we have a timeframe? Sure. Something between a day and a decade.
Do you have a considerable amount of superfluous funds you are interested in using to invest? One possible strategy is to lower your break-even point by purchasing additional BTC at price-points lower than you did when entering. Word of warning, this increases your exposure and potential loss, and needs to be done with care. a possible strategy is to set yourself budgets. Say... I will purchase 0.1 BTC if it hits 3900, then another 0.10 if it hits 3800. then 0.2 at 3500. maybe finish with 0.3 at 2500 and 0.2 at 2000 as placed orders in case of a full correction or flash crash.
These are just some of the options you've got. Just keep in mind that if the value of bitcoin worries you, you're playing the game wrong.
We all need to be here with the knowledge one day our crypto networth might become irrelevant, valued at 0. This resignation is what lets you act rationally and clinically when investing. Also, and learn this quick, never keep all your eggs in one basket. you win some, you lose some. be sure to always have something else.
Chill, man. $3,775 
just trust BTC that will pump and not only you but so many of us are believing on this ... dont worry it will rise again and will reach the 10k USD at the first month of 2018.. but theres one thing i think you did .. you hit buy on the 4600 so fatsts .. it was the highest value by that time .. and when BITCOIN reached that 4600 as i remember it went dump to 3600.. am ii correct ? if you are on investment/savings you should wait and dont worry but if you are just trading wow dude you lost a lot
Not to worry, Bitcoin will survive just like always.
If you look at the Bitcoin chart, the price go up and down.
If you look at the Bitcoin chart, the price go up and down.
Any words of encouragement?
I would start by asking you the following question:
Do you know when low is low and when high is high?
you do not know.
what can you do?
To be a day trader, you need to know technical analysis.
being a long-term trader you will need faith since bitcoin is used in real life and there are not many countries that accept bitcoin as a form of payments so you just need to think like this:
what will happen when all the countries of the European Union, Africa and America accept bitcoin as a means of payment to pay for electricity, water, telephone, to buy goods and services. the price will be much more than $4600
You know, I also bought bitcoin for that price. Don`t worry, it`s just beginnig
I think buying at that price is very risky though it is likely that bitcoin prices will go up. but why not wait for the price to go down at the lowest price
I'ts time for 3k$ crash.
It was barely 1k even early this year. It trends upwards over time, and quickly at that, but it's hardly a straight line.
I would be worried buying BTC that high as well. Nothing ever goes up in a straight line, we have seen this time and time again in history. A slow climb higher is way more healthy for a long term market.
I'm also a newbie, more interesting in all this, is the proportion that Bitcoin is reaching, (from the big media to the personal reality of each one)
I think in this case you have to make a very wise decision to make your investment work. I suggest you be patient and do not panic sell.
Dont you worry pal, because even though the price of bitcoin goes down now it will still increase in the future. Like what happened in July bitcoins price dumped as low as 1850$ but after that the price of bitcoin surge upwards upto 4K+$ so dont worry just hold your bitcoin as long as possible so that youll earn alot of profit in the future.
Just look at it this way: Did people that buy at $1300 back in 2013 feel really bad for a long time? yes they did.
Do people nowadays dream to buy bitcoin at $1300? yes they do.
In Bitcoin you never lose money if you are patient. Sooner or later the price will go higher than where you bought at, you just need patience, and most people simply aren't cut to hold long term on the red. Don't be the guy that sells at a loss.
21 million bitcoin. 7.5 billion people. Do the math.
Do people nowadays dream to buy bitcoin at $1300? yes they do.
In Bitcoin you never lose money if you are patient. Sooner or later the price will go higher than where you bought at, you just need patience, and most people simply aren't cut to hold long term on the red. Don't be the guy that sells at a loss.
21 million bitcoin. 7.5 billion people. Do the math.
I agree with you, the key is patience. long-term investment is the thing that most test your patience. and I'm monitoring the bitcoin development of late, china is a real rumor. I am still waiting for a few months until I'm sure I bought bitcoin.
You can try to convert your 1 BTC to some promising alts or new upcoming ICOs with the idea to make more btc. If you will be carefull enough and will spend time to investigate the market it will work well.
Dont fall to panic sell or panic buy. Never.
Dont fall to panic sell or panic buy. Never.
At least you can admit to and recognise some of the emotional play involved when entering Bitcoin as a newbie. Assuming you didn't just dump your entire life savings into that 1 BTC, you should just take a backseat and enjoy the ride. If Bitcoin's price history is anything to go by, it won't be long before $4,000 is the new safety net (yeah, sorry, it's at 3,800 now!). Even if it takes a year for it to recover to $4,600, that's a worst-case scenario and it's no real loss to you, seeing as that $5k is a possibility close (in the medium scale!) at hand.
I know I wish I were able to buy more often, and each dip like this current one makes me rue the fact I don't have cash on hand even more. Do stick around, stay active, contribute. Then when prices recover we can all get excited again.
I know I wish I were able to buy more often, and each dip like this current one makes me rue the fact I don't have cash on hand even more. Do stick around, stay active, contribute. Then when prices recover we can all get excited again.
This is the best advice , don't sell now for a loss just sit it out and see the stupid people panic sell.
Price will go up eventually.
This is actually a good chance for you to increase your investment now that the price of bitcoin drops, don't worry to the dropping of bitcoin value to now $3900, hold and you'll see comeback in price as early as 1 month and will continue to surge until the end of the year
If your set for a long term investment then there is nothing to worry, In fact, this is actually a right time to purchase more bitcoin since the prices have drop at now $3900. Hold them by at least 3 months and you'll start to see your profit. I suggest that you read more about bitcoin, it pros and cons, the factors affecting its value and other information so that you will have more knowledge and gain more confidence in your investment.
After btc-e back people will dump more bitcoin. Price can fall down to 3k6 before recover to 5k$ Jump to: