Topic: I bought my 1st BTC 2 weeks ago for $6 500 ("Lucky"). Pls recommend next steps (Read 425 times)

Im aiming for 85% profit or nuthin...

 Hodl.

Better than December 2017...

The delay of the bakkt is unfortunate but a good move for the greater good. If there is a small recovery beforehand then the bakkt will help to trigger a full recovery, at least back to $6500

Always try to take steps towards knowing some things about cryptocurrency before investing into it. If you bought your bitcoin about two weeks ago, I'm sure that you are probably at a loss already but there is no need to worry because the market will recover in the nearest future.

yes, you should considered yourself "lucky" compared to someone who bought btc in dec 2017

may have something to do with the delay of BAKKT?
as many already suggested... like it or not you'd better be a hodler
and the market could suddenly recover and rise up higher than before who knows?

I hope you won't be frustrated that much in the market. Don't let your emotions get through of you especially the thought of "Why did I buy at $6.5k, I made a wrong a decision." You didn't. We don't know where will the market go. For sure the market will go up again, we just don't know when. This is normal in the market. Stay strong and hodl for now. Search, read discussion and learn. Things will get through the way... and time.

Welcome to crypro
As your buying price is quite more than BTC's current price, just be patient. Do not panick sell your BTC even if it's price decreases more.
You can trade your BTC with good alts which can give you good returns and increase your BTC. Do research about the alts you are going to invest in.

Its matter of weeks as you see. You decided long time to buy, it lost only 30% of value, its nothing important yet. Remember it had value of $20 000 this year. It can be $1000 next year or $200 000 next year. Noone knows but i would advice to stick to your decision keep calm, make some tea or coffe and chill.

Welcome to the forum. If i be in your situation i will just hold , even if it i will need to wait 2-4 months for a bigger profit. I think bitcoin will grow in the first 3 months of 2019, and i think can reach over 15,000$ at that time, so nothing to worry in my opinion, the only problem is the time needed.

You are just on trial mode of facing the risks. Faced it.

Just hodl then get out of crypto world at the moment. Have a cup of tea somewhere with your friends. It's not a wise movement for me to minimize the loss at early stage of your career.

Well then, up to you decide at the end of the day.

Hodl.

I second this advice while very tough to see the value fall once the "bch wars" are over things will calm down and you will see your coins value return.
Just keep in mind you have bought something that is a finite resource and as such will only grow over time.   

Cold storage would be advisable to store your coins on or hardware wallet.

Damn, should be hard to see how easy you lost $2,000 in two weeks. But you only need to be patient, it will bump again someday, the bad news is it can take years for the bump. A year ago i read an article who tell us the recipe to become rich with btc, first buy bitcoin and then wait 5 years, that's all.

So put that BTC in a cold wallet and let time do the magic.

You use the name "trading girl", and yet you are  buying Bitcoin when it is in a bear market. I'm buying Bitcoin, but I'm price averaging for a long term holding. If you are planning on trading, then I think you have quite a bit of reading to do before you take any more positions.

There are a lot of videos on you tube, and they have a variety of opinions and mixed records. One that I find interesting is Carl from the Moon. This is his latest video.

https://www.youtube.com/watch?v=gHfjJ4u_QOw

I would suggest HODLing even if the price drops lower.

HODL means to hold on for dear life no matter what.

Bitcoin  has a big future and in 5-10 years from now you will be happy you held on to it.

As you were looking to invest in crypto since 2016, there were many good opportunities to acquire Bitcoins at comparatively lower levels. However, I would say that Bitcoin is still in the basic phase of development and anyone getting involved even today is an early adopter in my honest opinion. I am sure that you have done adequate research since you are following up the market since the last couple of years. I would recommend you to stick with your research instead of getting yourself under the fear of missing out. This is my personal opinion and please consider your own understanding before taking any decision.

And to follow up on that, I guess my suggestion would be to probably just wait it out. Part of me feels like bitcoin has been too compromised to ever really represent what crypto has the potential to really do for the world, and the other part of me feels like bitcoin HAS to make it in order for any crypto to make it simply because of public perception.

A little part of me has this hope that even though it is obvious that the central banks are intentionally driving the price down and keeping it suppressed, that eventually enough bitcoin will be bought by "hardcore holders" that there will not be an ample supply for the manipulation bots to buy back and then "sell down" into the market after amassing a great enough supply. (if that all makes sense lol)

Funny too how XRP has been the only crypto performing well over the last few days.  

And congratulations on buying your first btc.

My personal opinion is that this market fall is a direct attack by the central banking powers. They did the exact same thing with gold. They do this because bitcoin poses the greatest threat to their monopoly on the creation and control of money. If anyone tells you the central banks aren't manipulating the markets, they are either a central bank shill, or intentionally naive. The polish central bank was caught paying a youtuber $40,000 cash in february just to talk FUD about bitcoin. $40,000 cash. That's a lot of money to spend just on talking FUD. Now imagine what they would spend on actual market manipulation and price suppression to effectively "kill" bitcoin. People don't realize exactly how untouchable the central banks are. But perhaps this will give some perspective. The bank of international settlements is the "central bank" for central banks. It is owned by all of the central banks in the world and the heads from every country meet there every two months. The land it exists on is sovereign and exists outside of any country. No government official is even allowed on the land. They have their own police force. The members have immunity from arrest, search, and seizure WORLDWIDE. The bank cannot be audited, pays no taxes, cannot be sued, or charged in any criminal court. It holds over 7% of the worlds reserve currencies at all times. All international transfers pass through this bank. It also holds the largest amount of gold reserves in the world. And every government from every country except for Iran and North Korea, signed a special accord granting it all of those "above the law" priveleges.

So yeah. They run the world. It's not just conspiracy talk.

And while we are at it, here is an interesting fact. The day bitcoin crashed below $6,000, the IMF came out and said that central banks should make their own cryptos for "Stability".

The next day the head of the Euro Central Bank called bitcoin an "evil" spawn of the financial collapse. Which is funny, because the ECB, The bank of England, The USA Secretary of Treasury, and four of the federal reserve chairs are all ex goldman sachs executives. one of the investment banks that was largely responsible for the 2008 collapse which ruined millions of lives and was directly attributed to over 10,000 suicides the following year alone.

And he calls bitcoin evil. haha

Let it be 

Bitcoin trading or investment is not something anyone dabbles into and before investing money you should have a plan and contingency plans in case the market doesn't react as you predicted.

There are available data and information on the forum which can aid to decide what to do in the current situation. But people generally refrain from giving trading or investment advises.
Do your research.

I wouldn't call you lucky since the value has decreased dramatically since your BTC purchase but you are certainly more lucky than people who bought at 15k or 10k. Nobody can recommend what you should do. Only you know what is best for you. If you need the invested money back even with a big loss - sell it now since many expectations are that we might drop below the 4k line.
If you can wait - dont sell and wait for better days.

It's been a busy week for the bitcoin,and you could feel you probably bought at the wrong time, but that could end up not being the case, I honestly feel this is actually the right time to buy, as its relatively cheaper,but with all the negativity about this being the end of the bitcoin,i really do not know how wise it is..
There are only two options,and one is to sell off,hoping not to lose much more,if the price further drops..
While the second is to hodl and hope the price improves..
TBH it's all down to what you feel is right

There is no certainty in where this is going, as can be seen by all the comments on posts both on the Bitcoin Discussion board, and the Wall Observer thread.

Some will hold no matter what, others will panic sell and cut their losses, whilst others believe it’s time to buy waiting for a rebound after the BCH fork effect and war settles down. You see arguments on all sides, but no one has certainty, so it’s down to you to decide what to do, depending on what you can afford to lose, your hunch, and what argumental trend you believe in most.

With this market condition, holding is the best thing to do right now. You have no losses until you're holding your bitcoin. I personally believe we can see a huge pump as soon as possible. Then keep hodl. 

Thank you! Really useful article.

How do you consider yourself lucky? I did not understand your post actually because you are showing that you bought butcoin @ 6.5K USD and see Bitcoin now thatbhas been drop to 4.6K USD. You're doing it the opposite way. You should buy now because market is really good for buying or wait for more dip and then buy. Bitcoin has been struggling for now but mind you that not all market has like now that always falling for it will going to rise up sooner or later.

Allow me to say welcome to the forum and I wouldn't say you did a wrong thing to purchase bitcoin at that period.
The cryptocurrency market is experiencing a bad period currently at the moment.
 I made a post not to long ago about discussing pressing matters like this and I was gifted with this link
https://bitcointalksearch.org/topic/m.1858442
 I think you will find it helpful as well.


Just hold and be patient

I'm so "lucky" person:))) I have been thinking about buying BTC since 2016. And then I did that - 2 weeks ago.
I can't understand why the market is falling down and what is better to do in this case.

Please share your thoughts about the market situation.