Purchased at $23,500, when should I start to panic? When should I average down? - page 3.

Viscore

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Quote from: Nrcewker on September 11, 2022, 06:36:07 AM

Quote from: edward500 on September 06, 2022, 02:46:57 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?

Either you are new to this Crypto industry or really impatient dude.
I mean what’s the use of panicking? It’s normal Bitcoins to fall in it’s price. If you don’t know how the market works then better you should avoid money investments.
You are fearing and that too when you have BTC in your wallet. Just do a quick search on the internet about the marketcap of Bitcoins. That is enough to prove Bitcoin’s power my friend.
Just don’t panic always. Hold the coins for at least a month and then see the profits.

Obviously, OP is not really much aware about the high volatility of bitcoin. One day, you’ll see it’s moving up, the next day you’ll be surprised it’s now falling down. So never expect for bitcoin price to stay on top all the time. And I don’t think resorting into panicking will ever help you, it will only make you develop more fears and doubts on bitcoin. Instead, learn to be more patient and hold more, and in case bitcoin price drops more, just focus on buying so you can reap huge profits when bullish season comes.

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Quote from: edward500 on September 06, 2022, 02:46:57 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?

Tell me, what is your purpose of buying, Do you want to trade in the short term or do you want to invest in the long term?
Panic can happen at any time, it should not only be when you see the price going down but there are times when you will start to panic and can't wait to sell if the price suddenly goes up and makes a profit. Panic depends solely on your purpose for buying bitcoins, meaning you need to pay attention to price fluctuations if you want to trade and ignore fluctuations if you want to invest in the long term.

Quote from: edward500 on September 06, 2022, 02:46:57 PM

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?

Buy on every drop and hold on, it's been suggested many times. But you also need to pay attention to how much drop you have to consider adding that bitcoin to stack your portfolio, I might consider a $5K drop for example.

darewaller

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People who start to worry about when they just bought when it was recent, make me laugh. The reality is that we are looking at something that is decently doing well enough and that is why I believe that we shouldn't be really worried about anything at all when we are questioning the "fear" factor, fear is something that you feel yourself, same as worry too, that's what you feel and not something you should ask.

If you panic then you panic, and if you do not then you do not, which is why it doesn't matter at all. I believe that we should be focusing a bit more towards what we feel inside, what we want to do, and not what people are telling us to do.

STT

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The easiest long hold for BTC will be with the people who know the story on Dollar. If you think all is good on the politics that overshadowed good governance in currency and fiscal budgets then I can understand genuine fear for any long term hold of BTC. Hence I always say scale in, its a bumpy road but anyone who knows Dollar has problems long term and the debt is great burden to its ongoing value and usage worldwide even then BTC is a good hedge just dont over do it and dont worry excessively.

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Quote from: edward500 on September 06, 2022, 02:46:57 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?

don't panic and don't make a loss sale...

the thing you have to do is hold until the price goes up again or buy more if the price goes down to reduce losses when the price goes up. The point is, don't be afraid because the price of bitcoin is very volatile and unstable, so $18k is not the final bitcoin price.

arufox

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I think you shouldn't panic even if you bought it at $23,500. Although the price of bitcoin had dropped to $19k in early September, now bitcoin is starting to rise where the price of bitcoin again reached above $20k. It's better for you to hold on for now and don't rush to sell because the bull market will definitely happen again even though we can't predict for sure when it will happen.

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Quote from: edward500 on September 06, 2022, 02:46:57 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?

Nothing wrong upon buying at the top since you can still recover it unless you dump all the shit you bought. But if you can't handle the pressure much better if you do cut loss then decide if you want to buy again for second time around on another dip or just take home your money and just learn more information about trading.

Better invest on yourself to be knowledgeable traders so that you will not create more further bad decision which can create more heavy loss.

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Quote from: freedomgo on September 12, 2022, 02:53:16 PM

Quote from: pieppiep on September 11, 2022, 12:59:37 AM

Quote from: edward500 on September 06, 2022, 02:46:57 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?

There's no need to panic when the price goes down because it's only temporary and the price will go back up. Now you can start smiling because the price has increased to $21k even though it hasn't hit $23,500 or higher. It will get back to that price and higher.

If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

Expect that bitcoin price will never stay up the whole time. It will always have its own lows some time, but this is not enough reason to panic as no matter how the price drops, it will always recover and comes up surging again. All you need to do is be more patient, that way you will never have to be bothered by price fall backs as you never intend to sell at a loss.

With bitcoin dropping back to its current price, it gives more opportunities for people to buy it again. While others have bought bitcoins for over $21k, they will have to be more patient and wait for the price to rise again. And hopefully, those people are not panicking because seeing the price is down again. And this time, we don't know when the price will rise again. And maybe we can rest for a while until the price starts rallying again.

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Quote from: edward500 on September 06, 2022, 02:46:57 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?

Panic is the worst thing you can do right now. I would recommend not letting your emotions into ruling your investment decisions. If you want to buy more, thats your decision but it has to be a decision based on the long term expectation of the BTC price. Are you hoping to see 100k? In that case a 23k entry point is quite a nice steal. Anything below that is obviously a nice price to buy at, if you view it from a relative standpoint of the 100k goal. So whats the point in panic?

If you ask any veteran here on this forum they will tell you that 100k is nowhere near the goal. And a lot will tell you they will never sell.

Personally I belong to the latter. Bitcoin will be the global money. Don't cash out for worthless fiat unless you really have to.

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Quote from: Baofeng on September 12, 2022, 06:02:53 PM

At least to the OP, the price of bitcoin has recovered and pushes back to more than $22k. So maybe he doesn't need to panic for the meantime as he is about to break even at this point.

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

It is very important that before people take decisions that can affect them economically for years to come they question themselves about why they are investing in bitcoin and what are they expecting out of it? Because quite honestly the price at which the OP bought their coins is a good one and most of us do not really see any problem with the decision, however the OP is worried about it which probably means that he didn't really have a plan when he decided to invest in an asset which is known for its high volatility.

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Quote from: edward500 on September 06, 2022, 02:46:57 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?

Really? As far as I know, if you still consider panicking when there is a sudden fall back of price, then how much more if the price recovery takes long. There’s no reason to panic mate because that will only lost your focus and determination on reaching your target goal. Bitcoin is highly volatile so expect that it will undergo price changes or price decline from time to time. And you should have been aware of that before entering the market.

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There's every possibility that it can go as low as $10,000, though it calls for panic, but take a chill pill. No cause for alarm. The inflation won't last forever. For everything, there's a season.

There's every possibility that btc could rise to $100,000. So chill.

this depends on His desire and needing , if he badly needed the funds then there is no other way but to sell now or be loss more in the coming days.

because it sounds like he is not ready to Hold as the post says it all.

what I do believe is that he tries to pull the trigger to earn but the timing is wrong that is why he is more concern now.

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Quote from: Baofeng on September 12, 2022, 06:02:53 PM

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

As mentioned OP have already made a big recovery. Should not focus just on the decline in the portfolio value, because we have got the same holding in our portfolio and just the value in USD varies. If we have got the patience, then surely bounce back of the value in USD is assured.

STT

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This recent action is 100% an example to save, print off stick to the wall why you should resist marshmallow hands when you buy BTC. Dont melt at the first instance of heat appearing, its part of the game you bought into it. Dont overbuy is a constant message Ive read and understood on these forums for at least a decade and its good advice, dont borrow to buy BTC ever as its just way too volatile and its a bad effect in the end so nobody here wants to see weak hands playing speculator like that.
Save the BTC graph for at least the last month, great reversal action and quite typical of how it rolls, all over the place

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Quote from: Baofeng on September 12, 2022, 06:02:53 PM

At least to the OP, the price of bitcoin has recovered and pushes back to more than $22k. So maybe he doesn't need to panic for the meantime as he is about to break even at this point.

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

As long you dont sell anything then it wont really be considered to be a loss, if he had made some average down or DCA then he had already made out some profits in short time and thats the beauty whenever

you do know on what to do on a declining market.It wont really be that simple since this would be mainly playing with emotions and if you do really lack up some market awareness.

Now the price is starting to climb up once again and for those who had bought on that bottom are really making profits on short time.It all matters on risk taking since
not all are really that much confident with it.

Baofeng

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At least to the OP, the price of bitcoin has recovered and pushes back to more than $22k. So maybe he doesn't need to panic for the meantime as he is about to break even at this point.

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

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Quote from: Nrcewker on September 11, 2022, 06:36:07 AM

Quote from: edward500 on September 06, 2022, 02:46:57 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?

Either you are new to this Crypto industry or really impatient dude.
I mean what’s the use of panicking? It’s normal Bitcoins to fall in it’s price. If you don’t know how the market works then better you should avoid money investments.
You are fearing and that too when you have BTC in your wallet. Just do a quick search on the internet about the marketcap of Bitcoins. That is enough to prove Bitcoin’s power my friend.
Just don’t panic always. Hold the coins for at least a month and then see the profits.

You should have known the price volatility of bitcoin before you decide to invest. That way, you will be aware that panicking will never be helpful at all. However, investing in bitcoin is mostly profitable than seeing it as more of losses. But if you keep on fearing and panicking every time bitcoin price drops, then expect that you will never experience profits as it takes a lot of courage and patience before you will gain profits.

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Quote from: freedomgo on September 12, 2022, 02:53:16 PM

Quote from: pieppiep on September 11, 2022, 12:59:37 AM

Quote from: edward500 on September 06, 2022, 02:46:57 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?

There's no need to panic when the price goes down because it's only temporary and the price will go back up. Now you can start smiling because the price has increased to $21k even though it hasn't hit $23,500 or higher. It will get back to that price and higher.

If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

Expect that bitcoin price will never stay up the whole time. It will always have its own lows some time, but this is not enough reason to panic as no matter how the price drops, it will always recover and comes up surging again. All you need to do is be more patient, that way you will never have to be bothered by price fall backs as you never intend to sell at a loss.

Bitcoin is the safest choice for investing in the crypto world, as you said no matter how deep the price of Bitcoin falls, it can always recover.
So if we buy Bitcoin at a price of $23,500 and soon the price drops even more, we don't need to panic, just be patient holding Bitcoin that we have
until it recovers. Even if we still have capital, we can buy more Bitcoin at a much lower price. That's why Bitcoin is said to be very good as
a long-term investment, because it does require patience when investing in Bitcoin. Even if the profit we want to make maximum can be holding
until the Bitcoin halving occurs, because based on the history of Bitcoin movement, every time a Bitcoin halving occurs, usually the Bitcoin price
will reach new ATH. The most important thing is never to think about selling Bitcoin at a low price, it's an action that we will regret later on.

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Quote from: pieppiep on September 11, 2022, 12:59:37 AM

Quote from: edward500 on September 06, 2022, 02:46:57 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?

There's no need to panic when the price goes down because it's only temporary and the price will go back up. Now you can start smiling because the price has increased to $21k even though it hasn't hit $23,500 or higher. It will get back to that price and higher.

If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

Expect that bitcoin price will never stay up the whole time. It will always have its own lows some time, but this is not enough reason to panic as no matter how the price drops, it will always recover and comes up surging again. All you need to do is be more patient, that way you will never have to be bothered by price fall backs as you never intend to sell at a loss.

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Quote from: Mpamaegbu on September 12, 2022, 08:33:19 AM

Quote from: edward500 on September 06, 2022, 02:46:57 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?

This type of question doesn't make any sense to me. At least, logically it doesn't. Just $5k drop from your purchased price and you're already panicking? Come on, you aren't a baby, are you? There's a reason for that investment caveat – Don't invest cash you can't afford to lose or be willing to let go of. On a side note, you should think of those who bought at peak and console yourself with that. At least, I ain't aware that any of them has committed suicide yet now that price isn't great. BTW, if this would be any consolation for you, Bitcoin is heading back to $23k. Current price is $22,333.51 as I type this.

I can't really stress how important this is, it is going to be quite a big deal when you consider crypto is not as easy as you imagine it is for some people and how scared they could become. I know it is normal for us but they are not that normal and that is the problem. I believe that we should give them some slack and teach them how to be a bit more relaxed when it comes to this.

Obviously it is not going to be a simple thing but it is not going to be impossible for them to learn neither, so if they are doing a mistake by not understanding 5k drop is not a big drop, then the smarter decision would be just focusing on how to make them better, not to give up on them.

Topic: Purchased at $23,500, when should I start to panic? When should I average down? - page 3. (Read 1048 times)