I made a mistake shorting BTC at 17k - page 2.

Ale88

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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

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.

darkangel11

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Quote from: CryptoHeadlineNews on October 27, 2022, 06:58:40 PM

This may seems like a mistake to you by selling BTC and the price went up, because it's actually a normal thing that happens to all Bitcoin holders, as you never can tell when it's price may rise or fall since in most cases its price movement always independent and inglation data just as you thought. So my advice now will be that you rebuy BTC and have in mind to hold for a long term, as you never can tell when there will be another pump in price, since we all know BTC is currently at $19k-$22k resistance, of which there is every tendency it can pump any soon since it last ATH was $69k.

It doesn't happen to all holders. Dedicated holders know what's up. For example, did not sell my coins. Last time I sold anything was around 50k.
This is also true for the big players.
We all know how all in Microstrategy is. Have you noticed that in the recent SEC lawsuit against crypto, Microstrategy stock has not crashed? It's been on the same level for months.
7% of the company is owned by Blackrock, so they did not sell when they heard about the SEC lawsuit. On the contrary, they're doubling down, applying for a bitcoin ETF.
Saylor did not sell bitcoin, Shareholders did not sell his stock, they know what's coming!

boyptc

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Everyone has got the same story as OP. But you can change your own course and change the attitude of not wanting to buy at a higher price if you think that's the peak.

The reality is that the peak hasn't been reached yet. And that's why for those that are missing to buy or not doing DCA, you'll need to decide before it's actually too late.

There's no need to be worried or feel regret about buying now when you're decided that you'll stay here for the longest term of your life.

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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

Such a pity we have to read such posts every Bitcoin cycle. I can't even count how many I have read since 2011. Thousands probably. You're not the first and definitely not the last person to get rekt.

Jating

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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..

Good for you mate, and as what others suggested you should have buy back and that's what you did. I also did DCA for quite some time and will continue to stack sats even after the block halving. In short just buy as much as we can, or as what our budget can afford.

And let this be a lessons for others though, even if we sell, there is still a chance for us to buy back. It might take some time though as we all know that DCA strategy could be tailor fit to your budget and strategy.

Outhue

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The only problem any crypto investor can have with Bitcoin is trying to find the bottom, I can assure you that you will miss the bottom and you will have yourself to blame, there is no way anyone can know which or when Bitcoin will bottom and trust me, I hate trying to find the Bottom, even if it's not Bitcoin, you will end up deceiving yourself and you will look stupid.

Your post is from 2022 and I hope that you have already bought your Bitcoin, some idiots who believe that they are the smartest are waiting for 10k Bitcoin, some raised an alarm when the SEC sues on Binance and Coinbase came alive days ago that finally, Bitcoin is heading back to 10k, but instead Black Rock came along, and then SEC settles with Binance US...

See what I am trying to say? It's easier to miss the bottom in crypto.

necudo

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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..

panganib999

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Well this "mistake" so to speak could still be rectified by buying back bitcoin even at this price point. You could still recover losses in future pumps if ever, but you wouldn't be able to buy back losses anymore if you don't do anything today. As it stands bitcoin is showing good signs of a possible price pump for at least a good while, enabling everyone to still be able to take in profits if ever.

Quote from: necudo on March 23, 2023, 12:01:12 PM

Hello, OP here. Just to give update, few days after i made this post 6 months ago i bought at around 18k,been DCA between 15k-28k currently. Working extra shifts to buy more if i can..

In that case you just made the right choice. buying back and not letting the regret of panic selling get the best of you.

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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

Unfortunately, most likely you sold your bitcoins at the bottom price (almost the absolute bottom price in this bear market).

The $18,000 price is below the high of the previous bull market (December 2017). The price in a bear market usually does not fall below this level. Yes, you probably made a mistake ....

However, do not be discouraged. In my opinion, even now that Bitcoin is worth $28,000, it is still not too late to buy it.

Bitcoin is always a long-term investment. Your mistake was that you made the decision to sell the first cryptocurrency based on the news about the state of the economy. Meanwhile, bitcoin has a fundamental value that causes its price to rise over time.

Therefore, its price is likely to exceed the past ATH (i.e. $69,000) in the not too distant future.

eaLiTy

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

~
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

It is hard to predict how the market would react, when the US banks started to fail, majority never had a clue how the cryptocurrency market would behave but BTCitcoin was created to avoid these financial crisis but there is no evidence that investors would flock back to BTCitcoin when banks started to fail and that is what is happening as majority are diverting their fiat into the cryptocurrency market and wait for the minor correction and enter again rather than thinking you are left out.

cryptosize

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Quote from: necudo on March 23, 2023, 12:01:12 PM

Hello, OP here. Just to give update, few days after i made this post 6 months ago i bought at around 18k,been DCA between 15k-28k currently. Working extra shifts to buy more if i can..

That's the spirit, son! Cool

siniminomorocomunisakito

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There are things that are important to know when we make mistakes in our trading. In this case, shorting BTC at 17k was a mistake. It's understandable that you sold your BTC for 18k in response to inflation data, but subsequent market moves have shown that market timing can be very difficult, and often results in losses.

It appears the market has recovered from previous lows, and it is unlikely that we will see BTC drop back to 18k or lower. it may be worth considering a long-term strategy rather than trying to time the market. This can help minimize the risk of loss and maximize profit potential.

necudo

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Hello, OP here. Just to give update, few days after i made this post 6 months ago i bought at around 18k,been DCA between 15k-28k currently. Working extra shifts to buy more if i can..

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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 market had done this before and you don't need to panic about the market because what will happen will happen. You shouldn't have bought again above $18k because the market is going to range like this for long and all we need to do now is to buy at a very good pri e and keep holding. Many of us that are short term holders will not have to holding when others are selling so that they can keep making money when they market too is not that favourable to every traders. We need to learn about the market more and get better understanding about the market.

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Hey man you don't need back down, get your feets up and buy back there are still good chances for you to get more of it considering the price for today the variation is not much than backing off. This is not the end considering to the previous ATH so selling at $18k and buying back +$20k is nothing much than living a life full of regret maybe you might not be this lucky anymore, this is why i don't pay attentions to most news flying all over. I believe you are a strong supporter of bitcoin and you don't need to get distracted same thing applicable to me. I believe and trust bitcoin i don't get distracted for any reason or sell off my bitcoin with just a little pressure.

CryptoHeadlineNews

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This may seems like a mistake to you by selling BTC and the price went up, because it's actually a normal thing that happens to all Bitcoin holders, as you never can tell when it's price may rise or fall since in most cases its price movement always independent and inglation data just as you thought. So my advice now will be that you rebuy BTC and have in mind to hold for a long term, as you never can tell when there will be another pump in price, since we all know BTC is currently at $19k-$22k resistance, of which there is every tendency it can pump any soon since it last ATH was $69k.

Ryu_Ar1

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Better to buy another one and wait than to have to get back on the train.
bitcoin is currently still quite strong at $19k amid expectations of a Fed rate hike. and this is still bitcoin's strongest support for now. and if the Bitcoin price movement manages to maintain its green pace, it is likely that the positive trend will continue to hold up very well and be good news for long-term gains.
I personally advise you to re-enter even though it's still unpredictable the movement but it's better to do something like that than you are getting left behind.

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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

Mistakes are where we learn lessons and at other times, it doenst mean you would have to be the one making the mistakes. You can learn from other users or people's mistakes. You already made the mistake of selling too early, following the analysis that was appealing to you at the time and I get it, the burden of buying at a higher rate and have far less bitcoin than you were hodling before but, perhaps you could try an investment plan and just buy sat by sat without looking at the pump or dump price untill you've got a significant balance on your wallet again. Don't make the mistake of just looking and do nothing.

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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

To be honest, I feel we might see a leg down to 17k if we are really going to a bull market, you see entering a bull market requires toppling a lots of shorts, only when there are a lot of sell orders then can the whales actually bring in their capital, to make it look it's bearish time they have to give up a wick down to 17k area again, I think market will gain some green momentum in coming days but then there will definitely be a big wick down before actual rising starts, because so far things have rather been quite slow only if you see. Secondly talking about CPI data and Bitcoin, I have never ever been able to understood the correlation between the both I am surprised how have you figured it out?

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Quote from: Ahli38 on October 26, 2022, 07:45:51 PM

Quote from: jossiel on October 26, 2022, 04:53:05 PM

Well, if you've sold at $18k and you're satisfied just count on your feeling and validate that you've made the right choice if you've spent the money well.

But if not and it's still frustrating, there's nothing you can do but try to accumulate again. Do DCA and that's going to be the purpose that you have for now.

Do not forget to have an allocation for holding.

correctly. Looks like the OP really should be able to trust the analysis he has done himself. and the OP must stop listening to news that can affect the mentality of every bitcoin holder. but because the OP has already sold his btc. then I think the OP has to re-analyze if you want to re-enter to collect bitcoins. and the DCA Strategy is appropriate to use in the current market situation. we should have more confidence in our findings in making buying or selling decisions. and we shouldn't see too much news from influencers which sometimes makes us panic. because they always exaggerate the news they convey. so DYOR. and trust your own analysis.

Anyone who have sold early would likely want to get back on track and accumulate as many bitcoins as they can again.

But the fact is, this is hard to achieve when the price is higher although it may be hard. If you continue to be consistent in accumulation whether you DCA only in small amounts, that's already a good sign that you're having a mindset and aiming for consistency.

Topic: I made a mistake shorting BTC at 17k - page 2. (Read 1337 times)