Topic: How far is this drop going? Sort of regretting buying. (Read 1293 times)

Happens to many and I think you need to calm down until everything also calms down at the events that are happening.
This is just another phenomena against bitcoin and would be clear in the days that will come. It's price will come back because I am also hoping for a 5k price.  Just smile and let bitcoin do the job.

Its good that you are still holding up your bitcoin and didnt tend to sell on panic since the price have dip down back on 3.9k+ and now it start to recover. If you did able to buy on those points then definitely you have profits as of now since the price have gradually increasing again and might reach up on the buy point on where you made.Its quiet high but as you said it doesnt really matter because price would really able to break than 5k resistance soon.

This dump will not last for long of that I'm sure. If you look better now it seems that the price has already begun to bounce back. Yesterday it was around 4100$ and today is over 4300$ again. You don't have to regret buying bitcoin there is still enough room for profit. But sometimes it looks like new bitcoin users that appear each day don't know anything about bitcoins and they realy want to get instant rich people, just over night.

I think so too. It was a short fall and now it's already ending. All users are already accustomed to this. In these scams lose their money only for the newbies. I always remain calm. I kind of like it when that happens. This suggests that we are waiting for a big price increase.

there are some people that have the opinion that this is only a short term pullback; so for your position it all the same if you just hodl however I think it was a mistake that you bought at 4600 because everyone was talking about how a correction is eminent. BTC is strong and will comeback to 5000$ again.

Don't watch the daily price movements, it will drive you nuts.

In the meanwhile, you can lend out your bitcoin on places like Poloniex, and earn a bit of interest. It won't be much, but at least you'll be increasing your stash of bitcoins in the process.

I don't believe this bull run is over, let the rest of the world wake up and see what will happen.

Now you need to continue buying, you'll average down our entry price, see it as a savings account, eventually your investment will return a lot of profit.

That was actually a terrible time to buy... approaching a new all-time high and a milestone.  That is precisely when there is usually a slide, with the movers & shakers cashing out.  And we got a triple, maybe quadruple whammy with several other things coinciding with it that don't "bear" (no pun intended) well for the market right now.  The news from China.  The looming hard fork will have many in a non-committal state until that's over with and they see any after affects.  There are other reasons too.  But never buy high.

But DON'T sell it off.  That's my advice to people that buy in and then watch the value of BTC plummet.  In the long run... possibly quite awhile this time around (several months), it will rise again.  The dumbest thing you can do is take the loss, unless you really need the money for something.  It's the people that bought in when BTC was in it's infancy, in triple digits, or at least sitting around 2200 that should be selling right now, err... actually when the price was approaching 5K.  I remember those people bought in when the price was around 2500-2700 and were thinking about selling, impatiently, when it fell to 2200.  It just makes no sense.

But you should regret buying.  IMO we're about a week into a bull market that could very well last, for the most part, until after everyone assesses the hard fork.  Sure there will be some up's mixed in there over time, but overall a bearish period.  My first assessment was that I expected the price to end up around 3700 before rebounding.  Now I believe that was a very generous outlook.  It was before I learned of the China debacle, and a few other things.  Now I wouldn't be surprised if it dips below 3K before it's done.

November will be a telling month.    

The price bottomed out at $4000 so you actually didn't do that bad.

The floor is generally at that level, which means that in the next few weeks we are probably not gonig to see bitcoin go down below that again. If we were to go under $4000 then we would have done so in the current dump.

In a month or so, i think bitcoin price will be around anywhere between $4000-$4700. The trend is still bullish imo after we make the recovery. But how long it can stay bullish for, i don't know.

If you are a holder, then you are an optimist and never backed down on that. Also, take your mind away from the charts because that could be source of discouragement by checking every now and then. Also, you should know by default the price could go sideways at any point in time and this is what you have signed up to but don't worry, its a set back but not a pushdown as the rising up is coming soon.

When I first heard about bitcoin in 2011 the price trend looked (different scale but yeah) similar to today. I bought 10 BTC for round about $150 and a couple days later they were worth only 50 bucks. I was totally pissed, wrote the money off and didn't care for bitcoins until 2013 when the price rised over $1000. Since then the only thing I really regret is that I definitely saw the potential but lost faith.
Now I have no doubt that it will reach $5k long term and even at least $10k with the next halving. I'm bad at trading and I can wait another three years. Just keep HODLing.

The hype causes the price of all crypto's go down and if you see the list on coinmarketcap you can see that almost all of the alts are been down and maybe this is due to the fud of china and it really hit badly aswell with bitcoins since the price of it suddenly go down harder.

Since the news had gone out that China banned the ICO, prices of the coins including the altcoins had gone down. I think it will still go down further more and hopefully try to get back up once the hype is over.

The correction is almost down by 8.25% already and I believe it cannot decline below  $3000 because of the strong support it had form at that point previously, except something extra ordinary happen. For some of us who are long time holder am not worried at all because, the decline create an avenue for me to buy more and hold.

china banned ICO, i think btc under 4k soon ..

No one knows on how long this correction is happening. This is caused possibly by the China's declaration of banning ICO's until they made suitable laws for it. If you do believe that price will hit $10k this year or not just keep on holding. You don't have to rush and at that rate you had bought it higher, well you have no choice, you can't sell at the moment at $4,010.

If you're a long term holder(5 Yrs+), buy more on dips. You wont lose, dollar-cost averaging.

That news about China banned ICOs is really shake the cryptocurrency price, all going down today but i think it's already calm down right now. The price of bitcoin is at $4,000 and still unstable, well that news is really unpredictable though and that also makes many traders shock. The only you can do right now is hold your coins.

Hard to say how far it could go down.
Don't forget that we were at 1200$ in March, that means half a year ago.
I see some bigger support at 3800 dollars, but I although thought we had that support at 4K and we have already crossed that line on some exchanges.
As a holder who bought recently you can now either cut your losses, or hold still and wait.
I would wait I think. Cutting the loss would only fuel the fire.

I mean I acknowledge now I definitely invested at the wrong time as I did not see this extended dip coming as I thought it might drop $400 at 5k as a few people with auto sell set at 5k would sell out and then people would keep buying as we were on the road to bigger highs. BTC is still outperforming the projection I was looking at, we were meant to be down to well below 4k by now and we're still sitting around 4.2k. I still maintain BTC is very strong at the moment in terms of its backing and confidence levels aren't too bad considering the amount of fresh investment we're getting. If I had the capital I would definitely be investing more. I put in £2,000 when the price was 4.6k haha.