Topic: Is anyone that held throught 2013 crash worried about the current situation? (Read 406 times)

Most of them are newbies in trading and just like a bandwagon members keep on tailing where the people go, as a result they end up losing their investments without thinking the other possibilities. In crypto world everyone should think differently rather than like buying and selling like a simple goods without thinking the value of it in the future.

Weak hands, the price drops because of these guys.     Too much air in the price, it becomes spongy and we get a sell off or really harsh pullback like we've had.     Then the dynamic becomes like a snowball, people sell because other people sold.

Standard market dynamics and Bitcoin especially is full of speculators so its sliding all over.    Transactions fees have come down so longer term I'm bullish we can build some commerce use which matters way more then people hoping on BTC like its a lotto ticket

I remembered the last time i bought bitcoin when it was $250 and suddenly i sold it for almost $400 then. i didn't know what's happening around that time. It was 3 years ago, now that i'm happy to connect with you guys here and waiting for another 2 years to get in touch with some comments. love the thread by the way.

Most of them must have already exited once the price started to go down and felt like they were losing their money. In futile attempts to at least cut their losses, they must have sold their coins even when the price has been dropping or their investment occured a loss rather than a gain. Not knowing what bitcoin actually is, they mistakenly thought that they would be able to become rich immediately probably after hearing stories of bitcoin millionaires from early adopters. This is a misconception of many.

I'm new to all this so to me the reason is those that bought bitcoin did it because of the hype in the media and now the price is decreasing and we see mostly bashing and FUD so those who bought and have no previous experience with bitcoin or any other investment did it without really understanding what they were doing and are in panic and doing what they are told so they sold their bitcoin.

Well the difference between then and now is that there are far more people who'll panic sell because of the hype btc created last december. But for long time btc holders, we've seen worse. And it happens a lot so i don't think many were concerned that much

Many has been worried about this current situation also those noob always saying bitcoin will end in this crisis time. Most had panic sell even losing all their hodling coins. I agree we can visit this thread after months, years to updates of the current situation that worried for many. Hence, believing in bitcoin would help that price could increment anytime.

You have the power of perspective, experience and time.   Also you've probably gained alot more then people who entered at a higher price, I want to know the weight of people who have entered higher vs the old timers who are well into the black on the long term gains.    

Old timers arent worried because they arent risking more then their profits, its a position of comfort.   New entrants stand on their tip toes on a clifftop in high winds with less gains, or none or even worse borrowed to enter which should never be done as this transaction system is un-leveraged and should stay as genuine in that way as much as possible.

This is why pullbacks happen I reckon, BTC has less slack which propels it upwards and yanks it back too if we become top heavy.   Regular commerce, transactional exchange needs to flatten this market out like a steam roller, distribute gainers and losers more evenly so we get a firmer base to build from.   Too much speculation is not good imo, I agree with OP we'll find a direction and progress and this is less serious then the Mt.Gox sell off/confidence falter even though that wasnt even the protocols fault really.
   I do think growth is very much important and Bitcoin itself needs to develop and justify the worlds interest in it, take nothing for granted as speculation is based on that expectation.

Maybe no, those who were there when bitcoin value was only $100 can still say we are not in crisis and this is just a fluctuations that open up opportunities. Surely they are sitting on a bench while looking to those people who are in panic mode believing bitcoin will going to end so they sell their coins

You could not be more wrong or delusional. There are other, far superior cryptocurrencies out there if you really feel like crypto is the future (which I strongly disagree with). Bitcoin and the crypto space is fundamentally WAY different than it was in 2013, or even than it was in 2016/early 2017. There is competition among alt coins that did not exist in any significant capacity previously, and bitcoin's show-stopping scalability problems have come to light. Why on earth is bitcoin worth anything at all when there are far better options out there?

Yes please, let's revisit this in 2020.

Sure, I can say that I've been through that crash, although I haven't had any coins in 2013, but I got some in 2014, thinking that the crash was over and we'll start going up from the $600s. And we did! For a while we were going up and then the news about a China ban started coming in like every couple weeks and we ended up at 300s. Back then I was so depressed that I decided to forget about it. I stopped checking the charts because every time I did it was ruining my mood. I even gave up the forum for almost a year in 2016 and went on with my life thinking that I'll end up buying booze for all my coins one day and drinking myself to sleep.
Those times are gone and look where we are now. I sold a couple coins and I regret it, but I kept almost 80% of what I had back in 2014 and i'm proud of it.

This is true bitcoin can fluctuates and reach as deepest as $170 but it does not mean that it will going die. The market might experiencing a crisis now as what many people see it, but for those who are part of bitcoin community when the value was $170 surely are not afraid with this current situation and still believing after quite sometime this market will recover and pump even much better than before.

People ain't insane bruh. Insane is good. They are idiots who don't how to act in difficult situations. Bitcoin reached here because of them,their criticism,their nonsense,their shit has played quite a big part in making  bitcoin famous. They panic sold,smart people bought it.
Screw 2013,had people bought when the price was 1000$ in 2017,they would have gained 20X of their initial investment. I remember when people(including me) were warning users not to buy bitcoin when the price was around 3000$,guess where we went.This tradition has been followed for years,even before the Great Depression.

People who invested in Bitcoin or other cryptocurrency or maybe even tokens don't understand how it all works and why it works. They don't want to know. They just want to earn some money fast. That's why they always panic.

I bought at 80 $ back in 2013. My nerves have become molybdenum steel along the way after sitting through three bubles, the Mt.Gox chrash and the Bitcoin24 fraud. Now I'm waiting to buy some more when/if we go below 5 k, otherwise I'll just sit on my position.

Might want to set some levels where you sell a fraction of your btc.  I had levels at $7,500 and $15,000 that got reached during the 2017 pump.  In the future each doubling is another selling point.  It's basically what rpietilla used to post about.  Takes the emotion out of it and you never run out of btc. 

Considering my somewhat positive target was $10.000 for next halving (or around 2020) I can't complaint with current prices. I hodled thru this drop the same as I did in 2013.

There is no point in regretting it, because if I were of the ones that try to "sell at the top" I would have considered it to be $10K or even MUCH lower. So I wouldn't have been able to sell nowhere near $20K because I would have had my BTC long gone before.

Also, it never was my intention to go and sell all. There's some people that seem to imply that's what they will do when their target price is reached. I do plan on taking some profits at staggered target prices, but that's all.

Considering that... Am I worried? Well, I guess I am always "worried", no matter if it is rocketing or dumping but that won't make me change my plans. If it wasn't because currently the amount in fiat value I have on the table is worth more than 1 order of magnitude higher than in late 2013 I think I wouldn't worry at all.

My bet on Bitcoin is a long term one. Only time will tell if I was right or wrong. There's nothing I can do now to change that.

But the thing with bubbles is, we could have never known where the top is. A lot of people sold at $10,000 thinking that was the top, but it went to $20,000

It could have gone way higher, and the higher it goes, the more hardcore the fall will be, granted, but also the highest the floor will be in absolute terms. So if we hit $40,000, the psychological floor would be formed way higher than the $5900 one which is the current one.

So the moral of the history is... holding through the bubbles and not selling (doing nothing) is as valid as trying to time a top and selling.

Fundamentals are all that matter and they are solid. Fiat continues deprecating on the long term, im not falling for short term market noise to shake out my bitcoin position.

My big regret is not accumulating more when nobody wanted in back then.  I don't care what the sentiment is anymore, I'm accumulating.

Seriously, at the moment we entered 2017, the market was hovering under the $1000 level, and my personal target was to see Bitcoin be worth $3000 exactly one year later. Even at the lowest point of the recent correction (which was slightly below $6000), the market has still greatly exceeded my expectations. My current target for exactly one year later from now is $25,000, and everything we end up gaining more than that is a bonus for me. The most important thing is to remain realistic with your expectations, because the peak that we experienced didn't reflect the value of the market. $20,000 was waaaaay overvalued, and bound to come down big time, and it did. The only right thing to do at that point was cashing out profits and re-enter when the market corrects. If you bought at such levels instead of selling, you're one of the get rich quick baboons this market is infested with.

Common sense basic facts that should prevent you from buying at that point;

1) we were very close to an important psychological barrier (i.e $20,000).
2) we were only going up that high because of the speculative hype regarding the future markets.
3) the market was in a massive overbought state already.

At the moment CME entered the game, there was no speculative hype to sustain anymore, and boom, the market went towards the South.