Topic: I lost half of my crypto amount! what to do? - page 110. (Read 10117 times)
You are not alone, I have the same problem, after great faling i just make a decision that I will never sell my coins at low price. I'll waiting until market recovery! Take your mind off and do something else, there are many other interesting possibilities besides cryptotrading.
Each person here empathizes with you, and would definitely ask you to hold. We all make mistakes, whats important is to learn from them. Despite the anxiety or excitement, give your investments enough thought, research and attention.
Well everyone in trading have at least made this mistake once,so you have to learn from this experience and try to not make the same mistake.Next time,you should research the coin that you want to invest,like the news of future update,if there's one,you should buy and sell when the news is about to be released,it's more likely the price will rise when the update is released.
I think that you are not alone in this situation. The only thing I can tell you, it's probably not so greedy people. If you could earn from 1k $ 11k $, then you need to immediately remove them, because the course can not grow forever.
Mate, everyone over here feel ur pain cos the majority've got the same problems after crypto falling. Now alts are dying... It makes Ppl nervous but u gotta chill out. it's currency.
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So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
I guess every one who was holding crypto lost big amount of their investments during this two month, but also all who in crypto for a long time remembers that such thing has happened several times even in the last year, so my advice is it to wait for the market rise, but be ready to lose 90% of what you have right now.
So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
You bought in at a high, so have some immediate losses. But the market has plenty of highs and lows and the trend is strongly upwards. The thing you absolutely shouldn't do is cut your losses. Just keep calm, look at the longer trend charts and have faith that the prices will go much higher than you bought in at. If you feel comfortable trading, that can be lucrative and a way to increase your coins. Otherwise just hold. We have all been through it, and there are plenty more highs and lows to come.
I would not suggest you sell. At the moment you have a paper loss but if you sell you will realise that loss. Is it possible to change into other coins that may increase faster and above the price you paid? If you believe they will not drop further then if you do not exchange it is probably best to hold for recovery. Many investors in stocks would buy more after a crash to lower the average price paid so recovery price would not be so high. Only for the brave though.
I myself have made similar mistakes of FOMO and it just seems like everyone does, like it is an oath to becoming a good trader. So you have made the cardinal mistake of FOMOing (dw we all have) now you are in a spot of hodl or sell I would hodl myself because I don't like selling at losses. Also you have to look at whether those coins or not have a chance of getting out of the red and as far as I know those are okay coins and you should be able to creep out of losses. Lastly, know that I am still bag holding a couple of alts from last year some of which I have had for 10 months now (and don't know when I can get rid of but will wait it out).
I should have just went with bitcoin or ethereum. Cause if they go up then the other alt coins go up. They are the leaders of the pack it seems like. I will hodl since I don't want to sell at a loss. But you think they will go back up by the end of the year?
I myself have made similar mistakes of FOMO and it just seems like everyone does, like it is an oath to becoming a good trader. So you have made the cardinal mistake of FOMOing (dw we all have) now you are in a spot of hodl or sell I would hodl myself because I don't like selling at losses. Also you have to look at whether those coins or not have a chance of getting out of the red and as far as I know those are okay coins and you should be able to creep out of losses. Lastly, know that I am still bag holding a couple of alts from last year some of which I have had for 10 months now (and don't know when I can get rid of but will wait it out).
it seems that you are not alone in facing this situation, I am too, even my friend is worse, this is the risk of cryptocurrency, but believe me, just hold, you will get the value back, keep the spirit
First FOMO is a common mistake of the new folks in our community,second you made a common mistake,third you shouldnt blame yourself because most of the people here have done that,fourth you should know how to effectively pick good altcoins with these bunch of shitty coins out there,lastly do a lot of research before investing to any coin because investing blindly is worst than donating your money to charity because 95% of the coins in the market are shitcoins,spending a lot of time doing research could have saved you.
So I basically got fomoed. Towards the end of 2017 I saw how high bitcoin skyrocketed and decided to invest in ripple as a test. Less than one week it went up 3x. This made me more ballsy and I put in 11k total in various other alt coins like ripple, ethos, tron, and cardano. After the crash I lost about half of my value just like that. I am frustrated with the experience and wish I would have just put in 1k or something. I wish I could just not invested and went into what I was doing earlier which was just investing the boring and traditional way. Should I wait and hodl or pull out and do something else?
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