Topic: I made a mistake shorting BTC at 17k - page 5. (Read 1260 times)
It could still go lower if you could stay solvent long enough. It seems like you’re viewing things in too short of a period. Bitcoin is down more than 2/3s since the all time high. That’s not when you want to short. The best bears are the ones shorting as we come off all time highs. The risk reward points to you wanting to be long here. When people are screaming Lambo and you hear stories of peopling making millions in a day, that’s when you want to start going short.
Short/long/leverage is gambling against financial sharks/whales.
Stick to hodl next time.
Stick to hodl next time.
This. What the OP has done is to play roulette, and, although we cannot know the result a priori, we have more indications that we have touched the bottom or are close to it than the opposite. While the stock market has continued to go down these months, the Bitcoin has remained roughly in the range it is in.
To short the Bitcoin as a retail investor on pure intuition is to be a minnow and get close to where the sharks are.
It's not obvious that we won't fall below $18,000 again. We could very easily do so, and in fact I think it is more likely than not that we will fall below $18,000 within the next couple weeks. I simply don't see any indicator that bitcoin will shoot much up further than where it's at right now.
In regards to selling, just buy back in a do some dollar cost averaging. This way you can give yourself a chance to buy lower if it goes back down, which it more than likely will in my opinion.
In regards to selling, just buy back in a do some dollar cost averaging. This way you can give yourself a chance to buy lower if it goes back down, which it more than likely will in my opinion.
hero member
Activity: 2590
Merit: 650
Want top-notch marketing for your project, Hire me
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
Although you make the mistake of selling your whole holding at the lowest price, it's too early to say the market won't go back to or below the $18K price because the last 2 months of the year are always bearish and the bottom price is usually achieved during this month or the first month of the new year.Good luck to all, i hope you're smarter than me
The current trend you see which you consider to be the market pump crazy is just a slight pump to compliment the market.
I suggest you buy back your BTC now before prices shoot back up, because the logarithmic rainbow charts are already putting this current price in "Basically a fire sale", even almost breaking below that color line - meaning we will never see $17K again (sorry Bitcoin to zero doomers).
If you are worrying too much, then do not wait for another bitcoin price since the current price is still a good buy. Though you may experience losses for now, but for certain you will get huge returns in the future. However, waiting for another price drop too is still a good decision but I can’t tell when it will be happening seeing bitcoin price starts to pump these days. The OP did not write how much BTC he sold (which is not too important), but at first it seemed to me that it was a larger amount - because even if it was 1 BTC, the difference between $18k and the current price is only slightly more than $1000 - which in some smaller amounts is not a loss worth mentioning.
Yes, you are correct. Even if a mistake was made, which is what the OP claims, I do not see why that would be such a big deal. I guess I'm just not convinced that a mistake was made. There is no way to know for sure, of course, but there is also no reason to assume that this is anything more than a simple case of nonsense talk.
OP, if you really sold at $18k, and you think it was a mistake, then why not buy back and correct that mistake? Anyway, good luck with whatever you choose to do!
We would really be ending up on different decisions and steps to be made basing up on what we had analyze.Its never been surprising about these sudden price increase.
Although it is really just a small bump in price in the market but you could really have those thoughts that you had made a bad decision.
Its not too late on making up some purchase now but of course it cant be avoided that we would be thinking about the lowest price as possible.
The OP did not write how much BTC he sold (which is not too important), but at first it seemed to me that it was a larger amount - because even if it was 1 BTC, the difference between $18k and the current price is only slightly more than $1000 - which in some smaller amounts is not a loss worth mentioning.
Yes, you are correct. Even if a mistake was made, which is what the OP claims, I do not see why that would be such a big deal. I guess I'm just not convinced that a mistake was made. There is no way to know for sure, of course, but there is also no reason to assume that this is anything more than a simple case of nonsense talk.
OP, if you really sold at $18k, and you think it was a mistake, then why not buy back and correct that mistake? Anyway, good luck with whatever you choose to do!
If you don't want to look on this thread a few years later, and laugh for considering $20k expensive, I recommend you buy back. Selling bitcoin at $17k with $20k as current market value doesn't seem a "huge mistake". However, if the price doubles, triples etc., you're about to regret it.
Also, rainbows make sense until they're broken, same as with S2F.
Well, I don’t see it a huge mistake too because for me, it’s like a common mistake everyone is doing. You just have to be patient to wait for another dump price and it will be very possible this time since we are still in a bearish market. Bitcoin may seen pumping at the moment, but believe me it will always fall back again at any certain price. That’s the time you’ll decide if it will be a good price to buy or just wait for another dump price. Also, rainbows make sense until they're broken, same as with S2F.
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.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
We cannot tell yet if the bottom was touched, however, I also agree that betting on 17k was pretty much foolish (under 20k there seem to be much better chances upwards than downwards).
Yep, best would be to buy back, and although "market pumping like crazy" is not actually correct, not for Bitcoin, I feel like the opportunity window (for buying back cheap) may get very small.
However, please do your own thinking and do with your money as you decide, not by what I'm writing. I may be right, but I also may be wrong.
For me, I would rather wait for another good price to buy back bitcoin when its price will drop again and reach another bottom. That way, I will never have to worry and think about my future losses.
~
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
Currently it looks like a big mistake, but none can predict the future and the price. It is possible that you can now only watch the price go up. Maybe ist fall in January when Mt. Gox payouts are made. Short term analysis: 21-22k$ are being talked about. But hey, you write it, you can't timinig it, so trading against the trend is currently better… maybe. But that happens the best of us. Look at Tesla and Microstraegy, both are worldclass and they bought higher. 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
That's very right, no one can predict what will happen next so you can't blame yourself if you sell at a lower price.
Because when you are selling your satoshis, of course, you are thinking that btc might go down more.
If you think you did right at the time of selling, then, don't be hard on yourself. Other days, you can recover what you've lost.
Anticipate also the possible factors that may affect the market. And decide what's best for your situation.
It is not the end of your trading journey. You are still collecting experiences along the way if you won't give up this market.
legendary
Activity: 2226
Merit: 1049
Leading Crypto Sports Betting & Casino Platform
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
Sorry about your wrong decision bud, this is not something new, alot of us here has made similar mistakes and alot are still going to make same mistakes as long as the market continues to exist and bitcoin continues to remain volatile with its price.Good luck to all, i hope you're smarter than me
This is why I always advice some of my friends, when buying bitcoin with a long term mindset, it makes no sense being concerned about the current price, looking at the current price will only lead to mistakes like this of the op.
I hope no body makes similar mistake (which I believe alot are still gonna make by the way) and I also hope that when we make such mistake, I gather the balls to buy back at a higher price instead of totally losing out on a pump.
~
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
Currently it looks like a big mistake, but none can predict the future and the price. It is possible that you can now only watch the price go up. Maybe ist fall in January when Mt. Gox payouts are made. Short term analysis: 21-22k$ are being talked about. But hey, you write it, you can't timinig it, so trading against the trend is currently better… maybe. But that happens the best of us. Look at Tesla and Microstrategy, both are worldclass and they bought higher. 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
I suggest you buy back your BTC now before prices shoot back up, because the logarithmic rainbow charts are already putting this current price in "Basically a fire sale", even almost breaking below that color line - meaning we will never see $17K again (sorry Bitcoin to zero doomers).
I wouldn't be in a haste to go in if I were the OP. I will wait for today to pass because I believe there will be a correction downside to what price did by tomorrow or so. OP shouldn't be in a hurry to trigger a buy trade. Just relax and watch paint dry.There is some confusion about what you actually did, according to the title you shorted the bitcoin at $17k, however, in the post you state you sold it at $18k.
OP sold at $18,000 and made some gain but felt that Bitcoin was going to crash and then they sold/shorted it at $17,000 hoping it would hit $15k or lower, only for Bitcoin to zoom pass $18k and even $19k now. That's what I garnered from what OP narrated. 
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Who's going to guarantee the price won't go back to $18K or lower? Even if today bitcoin has traded near $20K, then I think its price will always probably drop lower.You sell because you are afraid the price will drop lower, that's natural but you don't have to regret it if you never lose from it. You're just unlucky to get more profit because the price has increased, but that's how it is. A person may regret many things in life especially about his past, but rest assured that you don't have to get too caught up in it and start buying it back and take advantage of the volatility of the market to make a profit.
That's why I never recommend anyone to do leverage trading because the chance you will loss your money is really high and it's not good for newbie. Spot trading and using stop loss is enough if you're doing trading, but for people who doesn't care with trading can do investing.
Personally I'm prefer to invest rather than trading since candlestick, signal, market movement etc is doesn't give you 100% guarantee.
Personally I'm prefer to invest rather than trading since candlestick, signal, market movement etc is doesn't give you 100% guarantee.
Sometimes the biggest lesson is to make a mistake. Most of the transactions made without knowing the structure of the market result in a loss. So we have to act very carefully. There is no such thing as a 100% guarantee in the market. It's the same with investing. All of them have certain risks.
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 direction of the market is still unclear. So I think it's too early to talk like that.
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.
It will be the perfect case of buying high sell low
Now you understand why some people prefer to hold than be in the same situation as you right now. It is not easy to correctly tell what the market will do in the next hours or days.
I think your only option now is to wait it out, hopefully, it will come down below your selling price.
Sell your BTC for $18,000, are you not wrong to sell it? Why don't you wait for BTC to rise again? even in a bear market like today, BTC is still stable in the $19,000 price area. You make decisions too hastily without thinking about the long term. and what's worse, you are short at the price of $17k which is the strongest support that still can't be broken.
It seems you need a little rest and self-control which should be better.
It seems you need a little rest and self-control which should be better.
full member
Activity: 1428
Merit: 129
The first decentralized crypto betting platform
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
We're still in the bear season, bitcoin hasn't pumped like crazy yet. Yes, you made the mistake of selling your bitcoins at that price, nobody is without some mistakes as long as you realize your mistakes and don't give up. Currently, bitcoin is still under $ 20k, in my opinion the price is still very low if you buy and hold for a long time, your chances of correcting your mistakes are still there. Start over now, its never too late with bitcoin, if you don't buy now you will regret more later when you see bitcoin hit $100k.
That's why I never recommend anyone to do leverage trading because the chance you will loss your money is really high and it's not good for newbie. Spot trading and using stop loss is enough if you're doing trading, but for people who doesn't care with trading can do investing.
Personally I'm prefer to invest rather than trading since candlestick, signal, market movement etc is doesn't give you 100% guarantee.
Personally I'm prefer to invest rather than trading since candlestick, signal, market movement etc is doesn't give you 100% guarantee.
Short/long/leverage is gambling against financial sharks/whales.
Stick to hodl next time.
Stick to hodl next time.
Jump to: