Topic: Bought my first BTC @ $4600, slightly worried - page 12. (Read 7816 times)
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.
Hey guys, new member here 
I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.
I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.
Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.
Any words of encouragement?
I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
Well, since you sounded like you are in a panic, I advise you to sell your "1 BTC" immediately. You know I was here since January but until now the most wealthy people that I know who were newcomers to BTC would watch the price for at least 6 months before they totally decide to buy huge amount of bitcoins. Most of them will only buy as little as $100 worth of BTC to start with. Then suddenly I met a brave soul like you my gringo, you had only started watching bitcoin in August and then bought 1 BTC after a little while. Brave! Very Brave! I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.
I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.
Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.
Any words of encouragement?
I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?Sell now, gringo! sell now! jajajaja!
I made the mistake of going all in at around 3900$ expecting it to rise after the first reports. Somehow, more reports have been released and price has dropped for a week at end.
Took a gamble and sold all off with a loss of 300$ per coin at 3600$, bought back in at 3100$ today.
I dunno, the rise and fall is weird and unpredictable. I held it for so long expecting it to rise but eventually I just had to sell it off, it is a tough decision
Took a gamble and sold all off with a loss of 300$ per coin at 3600$, bought back in at 3100$ today.
I dunno, the rise and fall is weird and unpredictable. I held it for so long expecting it to rise but eventually I just had to sell it off, it is a tough decision
I am a coder not a trader/investor but would support you,keep calm.
You will profit more eventually. Don't panic and be in good health.
I mined my first Bitcoin (through LTC) but I've bought most of them, at all prices until 2200€ in May/June, I ran out of money to buy more. So far so good, but I won't sell any before 10000€ anyway, unless I find a way to earn BTC instead of buying.
Don't worry about up and downs, but try to always have some fiat on hand to buy the dips.
Don't worry about up and downs, but try to always have some fiat on hand to buy the dips.
Also remember a few people have a lot of coins and can easily manipulate market prices.
But not possible on Bitcoin.You cant manipulate bitcoins price so easily it might be possible on some coins but not on BTC. Being worried on these times are only being felt by those newbie in the market of bitcoin or on crytpocurrencies on which they didnt really expect for the prices to go down lower than on the time they do buy their coins.It does happen,not only you is experiencing this but all the traders and investors too. ...from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.
Any words of encouragement? I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
Any words of encouragement?
I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?It seems you already know how to encourage yourself and thats good. Let me just support you by saying you're right because you should just hold for 5-10 years and value will surely come back and skyrocket.
I have that same "need" for bitcoin feeling and I deal with it almost everyday. It seems you've done your research well so what I say to you is CONGRATULATIONS. You've made a good investment and as with all investment, all you need to do now is wait.
Also remember a few people have a lot of coins and can easily manipulate market prices.
I should concede getting one Bitcoin at the rates of $4600 USD from the market is very high,No need to freeze due to this.But bitcoin unpredictability is enormous in the event that you contrast it and other conventional investments,I'm almost certain that there are likewise heaps of individuals out there that purchased Bitcoin on a high cost and abruptly there was a value drop.As long as you don't offer away your bitcoins underneath $4600 USD, there is dependably a shot for bitcoin qualities to hit another high record, and you will win some profit from it on the off chance that you are tolerance enough to hold your investment for the time being.
Do not make the newb mistake i did earlier in august (around the 16th ou 17th), when i bought some BTC near it's ATH and sold it when it fell almost 1000$ lower. Because when BTC rose again and hit 5000$ the following days, i almost cried !
BTW i bought some more at 4100$ yesterday, and now it's 3800$ ? Oh my...
BTW i bought some more at 4100$ yesterday, and now it's 3800$ ? Oh my...
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.
Hey guys, new member here
I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.
I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.
Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.
Any words of encouragement? I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
Words of encouragement? Don't be nervous and keep calm. If you're in with long term in your mind, don't let this small fud take away your rationality. There's a lot of fud lately and this is not the first time. Let me remind you the last time fud happen, the price down to $1800 and after that? the bullrun to $5000. I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.
I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.
Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.
Any words of encouragement?
I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
The situation of bitcoin today is just normal. Do not panic. It happened only because some people sell their bitcoins when its value was high. Because of this situation, investors on bitcoin will increase. Thus, bitcoin's value will continue to increase. Just keep holding. Do not ever sell your bitcoin because that will be a huge loss for you.
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.
Hold them for more then 2 months and you'll see profit!
The ICO ban from China is actually not very significant for the future. China banned ICOs 3 times since the beginning.
They only banned the Exchanges, so not the Bitcoin it self. Which means that China is saying: we don't like bitcoin, but we`re too afraid of it to put up a real fight.
In my opinion there will be coming many adjustments from China, and in which way they are going to handle Cryptocurrencys.
But at the end the ban will be soon gone, and your money will come back sooner then expected.
The ICO ban from China is actually not very significant for the future. China banned ICOs 3 times since the beginning.
They only banned the Exchanges, so not the Bitcoin it self. Which means that China is saying: we don't like bitcoin, but we`re too afraid of it to put up a real fight.
In my opinion there will be coming many adjustments from China, and in which way they are going to handle Cryptocurrencys.
But at the end the ban will be soon gone, and your money will come back sooner then expected.
Emotional intelligence
Thats all you need
Thats all you need
You buy btc at a very high btc price. It may take a few days for you to benefit from the btc you have now. My advice do not give up by time and bitcoin price if there is a decrease in price keep hold btc until the price goes up and you get profit. Because btc is the strongest currency in the world remember
This happens, just hold on and keep faith - it'll rise again, always does. You'll still make profit, keep calm and don't panic sell. Even if it drops to $3k, it's not worth it...been there, done that, lost a wedge in the process.
You should buy more now while it is on discount. Then when it goes back above 5K next week you will be up even more
You basically bought at the all time high. Right now you're best bet is not to react emotionally to the price and not try to time the market especially when your so new to the crypto market.
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