Topic: In the case of a large percentage drop (Read 884 times)

But when the big cash happens investors will wait to buy at an even lower price because let's face it, after the big crash we are going to go into a period of maybe 1 or 2 years of decline in which time BTC will decline back to under $10,000. This is almost guaranteed because this amount of gains cannot be sustained for such long periods of time.

Hey, what action would you take if a large percentage drop occurs on btc. Would you ride it out with faith it would come back, or cut your loses at a certain point. In the past I've made the mistake of riding stocks down. I'm not comparing btc to stocks just using that as an example of past mistakes. At this point I might be tempted to ride it seeing how Bitcoin bounces back and has proven to be resilient. I don't want to be negative but it's good to look at different sides of investments

I think the people are wise and they are foresighted in the modern times first they think to the currency after that they invested in this currency So for my information the people will not drop the bitcoin and instead of all this they will choose bitcoin among the other crypto currencies for the businesses and profits. If the large percentage drops then the other people will come to join and buy bitcoin.

Since you used to trade on stocks, it is a must to point out a few things. First of all, investing in bitcoins and crypto currencies in general is totally different and has its own conditions and is probably nothing like what you used to do.

In stocks, price changes are nothing compared to what happens in crypto. If a broker starts losing and goes down by a large amount,  it'll probably stay like that or even take years and years till it recovers back up. Here it's totally different. If a coin goes down, that doesn't mean it's the end. If it has some potential and actually has a purpose it will surely get back up. It might take a few days to few months.

I guess you never saw stocks go up and down by 10% , have you ? Well, here it happens. That's why before you jump in and invest your money you need to understand what you're dealing with. Basically let me tell you a simple small advice according to all my previous experiences. NEVER SELL IN CRYPTO ON A LOSS. Whatever happens, don't do it. One mistake that I fell in a few times is buying btc while it's rising and then selling when it starts going down as I'm afraid of losing my money. Only to find that a month later the price is back up and even higher.

And I'm not just talking about the last month which was totally crazy. I'm talking about stuff from 2015 when I had a few bitcoins at $270 for a coin and sold them for about $250 each. Now talk about REGRETS. That's what I learnt. Since that time, whenever it goes down I buy. It's inevitable that it'll rise.

The wisest thing to do I'd say is buy whatever you want and totally forget about them for at least one year. Then check how much they are. I know it's hard but caring less about the price makes you less anxious and drives the idea of selling at a loss away.

When price dips, it is nothing but good timing meeting with opportunity. It is the best time to buy more, hodl and pray for mooning.