Topic: Purchased at $23,500, when should I start to panic? When should I average down? (Read 1047 times)
October 28, 2022, 01:21:38 PM
Unfortunately for the OP, the last several months, we don't see any movement at all. Although now the price was over $20k++ but still very far from his purchase of $23,500. Nevertheless, if the OP is really that serious in investing here, maybe a good DCA (if he has used it already), could be a good strategy to offset his previous buys. And this might sound be redundant, but this is another lessons learn here in crypto market specially on how we enter the market and what should we do or what will be our mindset in this kind of situation, just to remain calm and continue to invest and hold.
October 20, 2022, 05:49:13 PM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
$23k to $25k is not a problem because in my opinion that price can still be achieved in the short term, At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
especially if you look at the data for October bitcoin is always bullish so there is a possibility that $25k can be reached again next month,
just hold on and don't sell cheap if you don't want to regret.
but will it be achieved in October? looks like it will be hard to come by and it will still take a long time, especially now that we are entering a crisis that has occurred in many countries which will obviously have an impact on bitcoin as well.
if the funds used by the op to buy bitcoins are also funds that will be used for short trades, obviously you have to buy when bitcoin drops again, so that when bitcoin returns to the initial buying price, you will get a hefty profit.
but if you still have other funds, there is no need to panic, because the losses experienced are only a matter of time, it may take longer, but remember the halving period even though it is still quite long, but it will definitely happen and we know that that's when bitcoin will increase.
October 13, 2022, 07:06:44 AM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
Market conditions have improved several times since the price dropped $18K. The increase is not very high, only a price change of $2k, or with a price increase of $20k, then you can already make a profit. But if you just leave Bitcoin in your wallet, of course to get back $23k, it will have to wait a long time. Because the current market conditions are bearish.The price has dropped to $18,000 levels already, then bounce back above $20,000 and now we are in $19,000. So it's not that huge decreased if the OP bought at $23,000, just a few thousands dollars and if the price goes sideways then just hold on and don't sell.
Again, it might be take several years to recover, but once the market enter the bull run, you won't regret your decision to hold or even buy at the current price.
October 13, 2022, 06:29:07 AM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
Wait , How could you call this as Mistake? answer this question first " What is your Plan for Investing"? are you term or daily base trading? because this will distinguish what will you act in the coming days.Quote
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
October 11, 2022, 06:49:47 PM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
Market conditions have improved several times since the price dropped $18K. The increase is not very high, only a price change of $2k, or with a price increase of $20k, then you can already make a profit. But if you just leave Bitcoin in your wallet, of course to get back $23k, it will have to wait a long time. Because the current market conditions are bearish.very long time before you could really break even with your purchase price but if you cant bare up with the risk or not able to play with those volatility then you could really still have option on not to
do something or anything but just simply wait for the recovery.Selling on loss is never been worth, we know that it wont be that simple whenever we do see our portfolio
is going down but you should really make yourself have good control of your emotions.
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October 07, 2022, 08:07:41 PM
Market conditions have improved several times since the price dropped $18K. The increase is not very high, only a price change of $2k, or with a price increase of $20k, then you can already make a profit. But if you just leave Bitcoin in your wallet, of course to get back $23k, it will have to wait a long time. Because the current market conditions are bearish.
And if you're just waiting for the price to recover to $23K I don't think it's too far away for Bitcoin to reach even though these price levels have been rare lately. But to wait for that level to come again in Bitcoin I don't think it will be too long if the next increase can occur from $20K. And for the matter of waiting long or not, it also depends on the increase in prices in the market. Because the longer it went on, obviously the longer one would have to wait for it. October 07, 2022, 12:23:04 PM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
Market conditions have improved several times since the price dropped $18K. The increase is not very high, only a price change of $2k, or with a price increase of $20k, then you can already make a profit. But if you just leave Bitcoin in your wallet, of course to get back $23k, it will have to wait a long time. Because the current market conditions are bearish. October 05, 2022, 04:53:29 PM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
OP, like most of the advice you've read so far - then I can really assure you not to panic if the price drops any time. You will not lose your assets, only their value is calculated in the estimate to fiat. Just calm down and think of additional strategies so that you can maximize your profit opportunities if the market recovers after some time.At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
Bitcoin is known as a potentially profitable asset for its long-term investors, so you may need to accumulate if you have funds in reserve. Accumulation is an additional plan you need to consider instead of panic.
October 05, 2022, 04:23:50 PM
23500 as a buying price isn't a price to panic. Think about this, what can be worst price Bitcoin can drop? That's mainly I think 15000 or maybe like 11-12000 and its extreme low. So max you will lose is gonna be %50. If you wanna cut losses you can, especially around 14-15k levels so you wouldn't lose that much. But if you can wait in patience it will return back to 40k price levels in near future.
If you know how volatile bitcoin from the start, then you should never end up panicking because even if its price suddenly drops, it will always manage to recover in due time. That's how bitcoin works. And since the market is still in bearish season these days, then always expect that bitcoin price will have more chances for decline, but never see it as a threat or whatsoever, but learn to take advantage in buying more bitcoin as soon you see opportunity to buy.just because of volatility.If you are someone who had come prepared then you would know on what you should gonna do.These type of questions are usually into those someone who had just stepped their foot
without even realizing on what they are dealing with.If you do know on how this thing behaves then you do know on whats next.You wouldnt panic and freaked out but instead
you would really be doing that average down.
October 05, 2022, 02:46:50 PM
23500 as a buying price isn't a price to panic. Think about this, what can be worst price Bitcoin can drop? That's mainly I think 15000 or maybe like 11-12000 and its extreme low. So max you will lose is gonna be %50. If you wanna cut losses you can, especially around 14-15k levels so you wouldn't lose that much. But if you can wait in patience it will return back to 40k price levels in near future.
If you know how volatile bitcoin from the start, then you should never end up panicking because even if its price suddenly drops, it will always manage to recover in due time. That's how bitcoin works. And since the market is still in bearish season these days, then always expect that bitcoin price will have more chances for decline, but never see it as a threat or whatsoever, but learn to take advantage in buying more bitcoin as soon you see opportunity to buy. 
October 02, 2022, 05:23:12 PM
Now you have to be more patient and hold longer.
The price is down again but you should not sell at panic instead buy again later on to average down the cost. $18k might be more possible to happen now because of so many failed attempts to break the resistance. BTC can still go down though. If you are just doing trades, it’s good to always have a cut loss price so you can know when to stop but it looks like you are still not familiar with the market, and miss to sell short.
The best investment you can do in Bitcoin is to buy whenever the price cross twenty thousand (20k) in price and hold for long term investment, because it's very obvious that after this year Bitcoin will experience massive turn up, now everyone is exaggerating of the price if it's going to rise or fall and it's what do contribute to massive panicking of selling bitcoin when it's experiencing degradation in market circle. The price is down again but you should not sell at panic instead buy again later on to average down the cost. $18k might be more possible to happen now because of so many failed attempts to break the resistance. BTC can still go down though. If you are just doing trades, it’s good to always have a cut loss price so you can know when to stop but it looks like you are still not familiar with the market, and miss to sell short.
October 02, 2022, 02:41:29 PM
23500 as a buying price isn't a price to panic. Think about this, what can be worst price Bitcoin can drop? That's mainly I think 15000 or maybe like 11-12000 and its extreme low. So max you will lose is gonna be %50. If you wanna cut losses you can, especially around 14-15k levels so you wouldn't lose that much. But if you can wait in patience it will return back to 40k price levels in near future.
You are pressuring him, yes we should think the worst case and if everything turns out to be true then we shouldn't panic. but with the thought that selling when bitcoin drops to 14k-15k is not advisable at all.
We don't know if OP is using money to buy is idle money or daily spending money...but if it's idle money my advice would be that the market can go bad but one thing you need to remember is that even if bitcoin goes deep below 10k bitcoin will still rise again. There is no forever bear market and the bears will at some point give way to the bulls. So always trust and hold your bitcoin in any situation, OP should only sell when it is profitable.
Bitcoin is indeed the safest coin to buy, because several times the price has fallen very deeply, but Bitcoin can always recover and rise again.
So no matter how bad the market situation is that can make the Bitcoin price drop very deep, we don't need to panic and sell our Bitcoins at
low prices. Due to the wrong decision to sell Bitcoin at a low price, however we will only sell Bitcoin when the price goes up. This means that
if we haven't made a profit or reached the desired price target, we should never sell the Bitcoins that we have. Bitcoin has proven to be very good
for long-term investments, meaning the longer we hold Bitcoin, the profit that we generate will be even greater. That's why when investing
in Bitcoin we must always use extra money, and never use money for daily needs. That is so that we can be patient holding Bitcoin in the long term,
without needing to sell it when the price of Bitcoin falls very deep.
October 02, 2022, 01:10:31 PM
We should not set too many expectations to avoid being disappointed too much later, but we as investors should always have an optimistic spirit, sometimes optimism will bring us excitement and stay awake to hold bitcoin. For me, October is usually a better month for the market, I do not dare to confirm that this October, the market will be filled with green. But personally based on my analysis and a little bit of emotion in it, I believe we will have some rally in october and the price can go back to previous $25k to 30k la when there are more declines.
Maybe you are one of those people who are like that but you already learned your lesson and you are now giving advices for others to avoid the same mistakes as you did though I think that having an optimism can still be link as having an expectation.You are are optimistic to buy and hodl a coin because you are expecting that your coins will grow huge in the future but I am with you when you say that October is a better month than being the worst because I've also witnessed some years where the price starts to get better by the time the month of October comes. Even the price just cross $25k this last 3 months, I think that's already better because at least we know that btc still tries its best.
October 02, 2022, 08:54:30 AM
23500 as a buying price isn't a price to panic. Think about this, what can be worst price Bitcoin can drop? That's mainly I think 15000 or maybe like 11-12000 and its extreme low. So max you will lose is gonna be %50. If you wanna cut losses you can, especially around 14-15k levels so you wouldn't lose that much. But if you can wait in patience it will return back to 40k price levels in near future.
You are pressuring him, yes we should think the worst case and if everything turns out to be true then we shouldn't panic. but with the thought that selling when bitcoin drops to 14k-15k is not advisable at all.
We don't know if OP is using money to buy is idle money or daily spending money...but if it's idle money my advice would be that the market can go bad but one thing you need to remember is that even if bitcoin goes deep below 10k bitcoin will still rise again. There is no forever bear market and the bears will at some point give way to the bulls. So always trust and hold your bitcoin in any situation, OP should only sell when it is profitable.
October 02, 2022, 07:01:52 AM
23500 as a buying price isn't a price to panic. Think about this, what can be worst price Bitcoin can drop? That's mainly I think 15000 or maybe like 11-12000 and its extreme low. So max you will lose is gonna be %50. If you wanna cut losses you can, especially around 14-15k levels so you wouldn't lose that much. But if you can wait in patience it will return back to 40k price levels in near future.
October 02, 2022, 01:28:02 AM
Well since I think we are in a Bear Market but I still think it’s very likely that BTC will continue to rise until the end of the year you are in no need to start to 'panic'. What I tell myself is only time to panic when we see a price point of below 15k which has not been seen yet.
If you are one to HODL your BTC and not sell them for a quick profit you will be ok in the long term if you do not 'panic sell'. Just dont look at your wallet thats what I do when I am being stressed from the price drop. It will go back up we all know this.
If you are one to HODL your BTC and not sell them for a quick profit you will be ok in the long term if you do not 'panic sell'. Just dont look at your wallet thats what I do when I am being stressed from the price drop. It will go back up we all know this.
September 30, 2022, 08:45:07 AM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
$23k to $25k is not a problem because in my opinion that price can still be achieved in the short term, At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
especially if you look at the data for October bitcoin is always bullish so there is a possibility that $25k can be reached again next month,
just hold on and don't sell cheap if you don't want to regret.
So it is important to keep our expectations in check, that way if things take a turn for the worse we will avoid panicking and selling our coins for a bad price.
Historically in bear market, even October is one of the worst. So I wouldn't put too much expectation next month, it will be flat again as I expected. Not that I'm negative about it, but that's what happen in a bear market. When we expect that the market will have some good month, it will turn on the opposite.
And with that, I do agree that it's important not to put too much expectations this month as well. $23k->$19k-$20k might be as bad as in the beginning. Nevertheless we can't do anything but to wait till the price bounce back to even levels.
We should not set too many expectations to avoid being disappointed too much later, but we as investors should always have an optimistic spirit, sometimes optimism will bring us excitement and stay awake to hold bitcoin. For me, October is usually a better month for the market, I do not dare to confirm that this October, the market will be filled with green. But personally based on my analysis and a little bit of emotion in it, I believe we will have some rally in october and the price can go back to previous $25k to 30k la when there are more declines.
September 30, 2022, 08:12:43 AM
snip~
Not that I think it was a big mistake that needs to regret but it was accepted being in the wrong timing because we never know if the market will pump after buying. Because even if you are good in TA, sometimes you fail and this means that the market is unpredictable. You will just get worried if the price of Bitcoin will reach $10k but as it was still above it then, I suggest make yourself calm and have some space in crypto. Better not to think about your investment as this time as this will certainly bothering you and might think about selling which could make you lose. I want it to be something good and as long as it is good, we should not be worried because bitcoin has never let us down. If you are ever worried just look at the past crashes and how all of them recovered after a while.
September 29, 2022, 11:31:29 PM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
$23k to $25k is not a problem because in my opinion that price can still be achieved in the short term, At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
especially if you look at the data for October bitcoin is always bullish so there is a possibility that $25k can be reached again next month,
just hold on and don't sell cheap if you don't want to regret.
So it is important to keep our expectations in check, that way if things take a turn for the worse we will avoid panicking and selling our coins for a bad price.
Historically in bear market, even October is one of the worst. So I wouldn't put too much expectation next month, it will be flat again as I expected. Not that I'm negative about it, but that's what happen in a bear market. When we expect that the market will have some good month, it will turn on the opposite.
And with that, I do agree that it's important not to put too much expectations this month as well. $23k->$19k-$20k might be as bad as in the beginning. Nevertheless we can't do anything but to wait till the price bounce back to even levels.
September 29, 2022, 08:22:32 PM
I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
$23k to $25k is not a problem because in my opinion that price can still be achieved in the short term, At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?
especially if you look at the data for October bitcoin is always bullish so there is a possibility that $25k can be reached again next month,
just hold on and don't sell cheap if you don't want to regret.
So it is important to keep our expectations in check, that way if things take a turn for the worse we will avoid panicking and selling our coins for a bad price.
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