I made a mistake shorting BTC at 17k

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Quote from: Assface16678 on March 12, 2024, 05:32:16 PM

-snip-
If the OG investors in bitcoin think only about earning, then bitcoin will lose its value because those investors will keep on selling their assets when bitcoin is reaching new heights, but that's not the case because solid investors care for bitcoin, not just for themselves.

There are more investors who are also thinking about how to get more profit, but they still haven't targeted it for the time being.
When Bitcoin reaches the new ATH at $70k it is still the first ATH deposit and there will be a higher ATH target.

We will see how the crypto market will start to be volatile with the rising price of Bitcoin and the Alt season that will occur.

This is no longer the time to buy, but the time to sell for those who want to take some of the profits.
A correction will certainly occur in the near future before the halving occurs next month.

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Quote from: Belarge on March 12, 2024, 04:05:04 PM

Quote from: KiaKia on December 06, 2023, 05:09:10 AM

Anything is possible in crypto, we can't say that 17k will be the final bottom, not until September of 2024, after the Bitcoin halving, another bottom can still happen and might not be like 17k again, but you will still be able to buy at better price compare to this present value.

I hate following what everyone is doing and right now it seems everyone has turned bullish, and that's the danger right there, most times the unexpected always turn up and it will caught people by surprise, I am happy that I bought some good amount of Bitcoin at 17k but that doesn't mean the bear market is over.

Timing the bottom is the most stupid thing you can do in crypto space, you will never know what is coming, that's why its smarter to be prepared for any possibility, I am not bearish and I am not bullish either, I am staying right in between, to take advantage of any opportunities that present itself.

Crypto comes with alot of responsibilities. The bear season is over, and those investors that made solid foundation will start reaping major profits because standing strong enough require good planning. Bitcoin keeps ranking #1 on the market and there's absolutely no pulling opposing projects, the ones we're acquainted doesn't match. Take proper time to invest in solid projects, these are developing. The opportunities of earning profits in the space, is straight. Shorting bitcoin is wise decision but it should be done with good techniques.

True, bitcoin will keep on increasing. Yes, bitcoin can make a dip, but not to the point where those investors or people who want to invest in bitcoin want to buy it at a low price. I'm referring to those who want bitcoin to reach $20k or lower in order for them to buy many bitcoins at a low price. Little do they know that this price or this kind of dip will be impossible to happen at the current state and solid foundation of bitcoin. And it is also thanks for those OG's in bitcoin; if they don't have the mindset of making bitcoin the most powerful crypto currency, then bitcoin will never reach its current state right now. If the OG investors in bitcoin think only about earning, then bitcoin will lose its value because those investors will keep on selling their assets when bitcoin is reaching new heights, but that's not the case because solid investors care for bitcoin, not just for themselves.

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Quote from: KiaKia on December 06, 2023, 05:09:10 AM

Anything is possible in crypto, we can't say that 17k will be the final bottom, not until September of 2024, after the Bitcoin halving, another bottom can still happen and might not be like 17k again, but you will still be able to buy at better price compare to this present value.

I hate following what everyone is doing and right now it seems everyone has turned bullish, and that's the danger right there, most times the unexpected always turn up and it will caught people by surprise, I am happy that I bought some good amount of Bitcoin at 17k but that doesn't mean the bear market is over.

Timing the bottom is the most stupid thing you can do in crypto space, you will never know what is coming, that's why its smarter to be prepared for any possibility, I am not bearish and I am not bullish either, I am staying right in between, to take advantage of any opportunities that present itself.

Crypto comes with alot of responsibilities. The bear season is over, and those investors that made solid foundation will start reaping major profits because standing strong enough require good planning. Bitcoin keeps ranking #1 on the market and there's absolutely no pulling opposing projects, the ones we're acquainted doesn't match. Take proper time to invest in solid projects, these are developing. The opportunities of earning profits in the space, is straight. Shorting bitcoin is wise decision but it should be done with good techniques.

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Quote from: dunfida on March 12, 2024, 03:38:12 PM

Quote from: Bobrox on December 06, 2023, 05:23:23 AM

Quote from: necudo on October 25, 2022, 02:49:02 AM

I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me

Edit: i updated my post at #103

In your position why not have initiative to buy exactly you earned profit with selling Bitcoin around price $18,000 and several days later bitcoin dropped -3% until $15,000 and you have much fund from selling your bitcoin before. I know some people on afraid position exactly with bad news from CPI have many bad news and make some investors are selling their bitcoin in lower price. Looking for current bitcoin market price more drastically I think you was disappointed with your ideas have to sell bitcoin in $18,000 but you can take lesson for the future don't sell all out your fund but left few percent your bitcoin assets for holding.

If you have initiative to be long term holding don't afraid how drop drastically with bitcoin price and remember when bitcoin success raise all time high above $65k with potential always have new all time high price for bitcoin in the future.

Whenever you do make yourself that too active on checking out news every now and then specially into those common or traditional stocks/forex events or whatsoever it would be correlated to this then you would really be likely on having that consideration on selling out your position. For sure OP isnt the only one who had made out such decision on shorting into those levels and there are tons but the only thing on what OP
did is that he made out some DCA. Wondering if he do still able to make up or accumulation when the price is still 40k? If we do see the price now then it is really that making new all time highs then you would
really be able to tell to yourself that you had made out the right choice. It is really just that there are people who are really that too negative or skeptical on purchasing Bitcoins or any coin
in the market whenever we do hit that extreme dump or crash in the market but well its just normal since we are really just that humans.

Regret is always in the end, but good thing you've made out some decisions on which you do know that it would be making out some comeback or u-turn of events on which you've been able to make profits
just because you've been able to take up the risks on DCA'ing when the market is really that in bear mode which not all would really be having the nerve or having the guts on doing so specially when the market is on extreme fear then no matter how veteran or old timer you are on this market but still it would be giving out that kind of emotion that wont really be that simple to contain or control.

Mistakes are natural but once you do able to gain up those learnings and experience towards those conditions then in next time then you would really be wary on what are the
actions you would really be making on next encounter.

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Quote from: Bobrox on December 06, 2023, 05:23:23 AM

Quote from: necudo on October 25, 2022, 02:49:02 AM

I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me

Edit: i updated my post at #103

In your position why not have initiative to buy exactly you earned profit with selling Bitcoin around price $18,000 and several days later bitcoin dropped -3% until $15,000 and you have much fund from selling your bitcoin before. I know some people on afraid position exactly with bad news from CPI have many bad news and make some investors are selling their bitcoin in lower price. Looking for current bitcoin market price more drastically I think you was disappointed with your ideas have to sell bitcoin in $18,000 but you can take lesson for the future don't sell all out your fund but left few percent your bitcoin assets for holding.

If you have initiative to be long term holding don't afraid how drop drastically with bitcoin price and remember when bitcoin success raise all time high above $65k with potential always have new all time high price for bitcoin in the future.

Whenever you do make yourself that too active on checking out news every now and then specially into those common or traditional stocks/forex events or whatsoever it would be correlated to this then you would really be likely on having that consideration on selling out your position. For sure OP isnt the only one who had made out such decision on shorting into those levels and there are tons but the only thing on what OP
did is that he made out some DCA. Wondering if he do still able to make up or accumulation when the price is still 40k? If we do see the price now then it is really that making new all time highs then you would
really be able to tell to yourself that you had made out the right choice. It is really just that there are people who are really that too negative or skeptical on purchasing Bitcoins or any coin
in the market whenever we do hit that extreme dump or crash in the market but well its just normal since we are really just that humans.

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I have been holding two BTC since 2018. A month ago when the inflation data came out any CPI was too high I sold my BTC for $14,000. Then I thought I made the right choice as the stocks went about -5% premarket and I thought both stocks and BTC were going to make a final capitulation, so we sold another BTC coin for $15,000. Later it went down to within 12-13k in 2019Later this btc market everything is fine, after that its market increased about +7%. I shouldn't have done it during the market. I made a huge mistake and I now deny BTC coins at high core. Because when I sold it it was up only +3% and another time I sold it at around +4%. Now if I want to buy back this btc coin I need to invest 19.7KThe current btc coin market is very good so obviously we won't go back above or below btc coin 17K. Now the market of BTC coins is hitting a lot. So I understand this and hope you all do.

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Quote from: necudo on October 25, 2022, 02:49:02 AM

I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me

Edit: i updated my post at #103

In your position why not have initiative to buy exactly you earned profit with selling Bitcoin around price $18,000 and several days later bitcoin dropped -3% until $15,000 and you have much fund from selling your bitcoin before. I know some people on afraid position exactly with bad news from CPI have many bad news and make some investors are selling their bitcoin in lower price. Looking for current bitcoin market price more drastically I think you was disappointed with your ideas have to sell bitcoin in $18,000 but you can take lesson for the future don't sell all out your fund but left few percent your bitcoin assets for holding.

If you have initiative to be long term holding don't afraid how drop drastically with bitcoin price and remember when bitcoin success raise all time high above $65k with potential always have new all time high price for bitcoin in the future.

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Anything is possible in crypto, we can't say that 17k will be the final bottom, not until September of 2024, after the Bitcoin halving, another bottom can still happen and might not be like 17k again, but you will still be able to buy at better price compare to this present value.

I hate following what everyone is doing and right now it seems everyone has turned bullish, and that's the danger right there, most times the unexpected always turn up and it will caught people by surprise, I am happy that I bought some good amount of Bitcoin at 17k but that doesn't mean the bear market is over.

Timing the bottom is the most stupid thing you can do in crypto space, you will never know what is coming, that's why its smarter to be prepared for any possibility, I am not bearish and I am not bullish either, I am staying right in between, to take advantage of any opportunities that present itself.

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My only regret was not buying even MORE bitcoin at 16k than I did. But I definitely caught the bottom through DCA, buying even more than usual at the time
because I sensed we were at or near the bottom. Fortunately for me I was right. But I didn't do it by guessing I did it by simple DCA and discipline.

At the time the price was dropping like a rock and there was a huge amount of FUD in the media, so I admit that buying in that kind of environment
was not an easy thing to do, but I knew in my heart of hearts that it was the RIGHT thing to do--and I did it.

I was a big believer in Michael Saylor back then and still am. Saylor is the man who taught me to DCA and HODL, and never worry about the price action no matter what.

Forget ever trying to time market bottom or tops. Forget ever trying to predict the price--you just DCA and HODL. That is the only way to guarantee success.

You must control your emotions and discipline yourself. Don't let your emotions control you.

Don't ever short or long bitcoin. You might get lucky once or twice, but in the long run you WILL get wrecked. That I can guarantee you.

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That's where we all have to understand what long-term investment is. In long-term investments, we must be able to maintain the assets we own strongly. Don't let our mentality as investors immediately decline just by falling prices. Especially when talking about bitcoin which has the quality of price movements that are always directed. Of course, we as investors have to convince ourselves more, so that we have a stronger hold on Bitcoin.

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Just before last bulls arrived in late 2020, I wanted to long BTC at 19k but at last moment changed my decision (even when I write this comment, it seems stupid decision, probably just hindsight) and shorted it, since that day btc went on to make $60k+, imagine my profits.

I regretted it, but what could be done?

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Quote from: necudo on December 05, 2023, 04:36:24 PM

Hello guys! Op here.. I continued my DCA and im glad i did! It wasn't easy and i worked lot of weekends but im happy now. Keeping my BTC in my hardware wallet was also best thing i've done for peaceful sleeping😃

My average is around 24k.

DCA rocks!

Its still kinda unbeliveable seeing BTC at 43k after eternity lol. Even though we can still crash 20-30%+ short term it would be a great opportunity to do some more DCA

Continuing with DCA is of course a good solution as long as you are prepared for the risks, and storing Bitcoin in a hardware wallet is a good solution and guaranteed security because if you put it on an exchange it is of course potentially dangerous. It's no wonder you're rarely active on this forum, it turns out you're busy working outside, of course that's not a problem because sometimes I'm also busy with the outside world.

You buy BTC with an average of $ 24k, of course you will get a lot of profit if for example you sell now. Because the price of BTC is currently rising high.

Yes, now the price of BTC has reached more than $43k, even earlier it was more than $44k. I was also surprised but happy because I haven't sold my BTC.
Indeed, the best time for DCA is when there is a price drop.

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Indeed, when the market is bearish, many people are tense, sometimes few people want to buy because they are afraid that the price will fall even further, but the situation when the market is bearish is always used by people who are wise and not afraid of risk and in the end the person makes a profit. and you are one of the lucky people because you were still able to buy during the bearish market at that time but you sold it too cheaply and in the end you only got a small profit but what you did was very good, it's just that you didn't get a big profit and of course you will definitely regret it. your actions in the past, because surely you have now seen the price of BTC really high above $40k. and what people say on this forum is very true, namely that it is best to invest in BTC for the long term and only sell during bull runs, and BTC always forms new aths, but unfortunately many people don't believe it and I personally, after seeing the market, are now increasingly I believe that BTC has the potential to form a new ATH.

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Quote from: necudo on October 25, 2022, 02:49:02 AM

I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me

Edit: i updated my post at #103

You sold your bitcoin at the wrong time, but it's still not too bad because you made money and didn't lose. However, you shouldn't have been following all the news you saw because even now, as the price of bitcoin has risen more than #40 now, you would still feel bad about it because you sold it at the wrong time. Because of this, when it comes to investing, we shouldn't rush things instead, we should take our time and consider whether the decision we made was the right one, even though we have different options towards bitcoin. Since we are prepared for any outcome from an investment loss or gain why rush to sell when we are aware of the risks associated with bitcoin? If you hadn't sold, I think your profit would have been bigger by now. I think you would have learned from your experience, and those who are new to investing in bitcoins will still learn from you.

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Fast forward to today, 5th December 2023 (just a year later), Bitcoin has touched $40K and isn’t even looking like it’s resting. It’s been on the rise like something woke it up so badly. Well, I’m hoping that maybe, you eventually took the advice that some people gave you here on buying back while you still can, cause if you wanted to do that today, it’ll cost you a lot more (like 2x) what it would have costed back then.

Just to add to that, I’m not being pessimistic, but if Bitcoin can go all the way from its all time high of over $60k and get down to as low as the $18k (even lower) you saw, then it’s possible to happen again because that is a good example that volatility doesn’t care how high the price was.

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Hello guys! Op here.. I continued my DCA and im glad i did! It wasn't easy and i worked lot of weekends but im happy now. Keeping my BTC in my hardware wallet was also best thing i've done for peaceful sleeping😃

My average is around 24k.

DCA rocks!

Its still kinda unbeliveable seeing BTC at 43k after eternity lol. Even though we can still crash 20-30%+ short term it would be a great opportunity to do some more DCA

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Quote from: Ale88 on June 18, 2023, 03:11:15 PM

Why shouldn't you buy bitcoin again? You made a mistake, we all make mistakes, the fact that you recognize you were wrong instead of blaming "the whales/the government/your neighbor" already is a good sign. But the worst mistake, in my opinion, would be forgetting about bitcoin. When you feel ready just buy again, you will have less BTC, we have all thrown money away, that's how life works, now you won't make the same mistake again.

The OP already said that he has resumed DCA-ing Bitcoin again through 2023, and he is already in a slight profit. You may have missed his last reply in this thread:

Quote from: necudo on June 18, 2023, 01:56:31 AM

Hello OP here..

Im still DCA through 2023😁 now at 0.2btc.My average is 23.5k

Now when look my first post its really funny to see i actually sold my BTC when stocks(SP500) bottomed lol. Glad i got back..

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Quote from: summonerrk on June 18, 2023, 03:24:28 PM

Quote from: necudo on October 25, 2022, 02:49:02 AM

I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me

The price market does not obey any laws. I've been in trading for more than ten years and I know what I'm talking about. No one knows where the price will go in a minute. The only way to predict the furthest course of the price is the support and resistance levels. As well as trend levels. But you can't rely on them, the market price passes through them quite often, but not more than 50 percent of the time.

Here is a screenshot of yesterday's Bitcoin growth with my graphical trend lines and levels. As you can see, the price is predictable. And now I think it will grow to 30k. And then it will drop to 18 or 8k.
https://telegra.ph/file/a3265f3afbfb5e32bce1c.jpg

Great opinion! If the price of bitcoin drops below $20,000 it will be a great time to buy altcoins

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When the cryptocurrency falls, you need to average the position. But I do not consider bitcoin for investment, because I do not have 1.000.000$
I try to find decent coins with a small capitalization. With luck, the amount of investment can increase by more than 100 times

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Quote from: necudo on October 25, 2022, 02:49:02 AM

I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me

The price market does not obey any laws. I've been in trading for more than ten years and I know what I'm talking about. No one knows where the price will go in a minute. The only way to predict the furthest course of the price is the support and resistance levels. As well as trend levels. But you can't rely on them, the market price passes through them quite often, but not more than 50 percent of the time.

Here is a screenshot of yesterday's Bitcoin growth with my graphical trend lines and levels. As you can see, the price is predictable. And now I think it will grow to 30k. And then it will drop to 18 or 8k.

Topic: I made a mistake shorting BTC at 17k (Read 1337 times)