Purchased at $23,500, when should I start to panic? When should I average down? - page 4.

EdenHazard

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Quote from: Jawhead999 on September 12, 2022, 09:36:21 AM

If you're holding Bitcoin for long term, you're supposed to not panic since it would kill your holding journey. It's up to you on how much the price you start to averaging down, it's either you buy every 2 weeks on random price or you need to wait until the Bitcoin price hit x price. You can start when it's decrease every $1K or $2K, if you wait until the bottom, you might missed the bottom.

Well if you looking for an advice like what op did here , it might gets you much more confusing decision to take but hey at least by leaving a post like this you could track back what you have said and thinking what you should have done by now and in the next journey of your bitcoin holding.

$18k you said op? It's getting back up at your starting point , guess what? If you bought more bitcoin back in few days ago at$18k , you might have 20% profit guaranteed already plus your initial capital in the safe point.

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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?

Why do you consider it a mistake that you bought bitcoin at 23K. You should know that you have got bitcoin at a discounted price as in the coming years you will not see this low price again.

Secondly, i hope you have bought it for long term so even if it reaches 15K-18k, that should not make you panic. Also, if you can't see your portfolio down by 20-40%, you should not be dealing in the financial markets.

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Quote from: Jawhead999 on September 12, 2022, 09:36:21 AM

If you're holding Bitcoin for long term, you're supposed to not panic since it would kill your holding journey. It's up to you on how much the price you start to averaging down, it's either you buy every 2 weeks on random price or you need to wait until the Bitcoin price hit x price. You can start when it's decrease every $1K or $2K, if you wait until the bottom, you might missed the bottom.

Do you know while some investors when they invest in Bitcoin and they panic to sell when theirs a slight information or News concerning price falling of bitcoins. Their objectives is that immediately the prices is falling they will be at disadvantages indecencies that they funds will be lose, and it keeps to the newly investors. Actually the obligation of long term investor is to make profit not to lose, but on the process holding your coin their is every tendency that your coin can drop or increased.

Zanab247

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OP you don't need to be panic, because you made the right choice to purchased when the price was 23,500k and even though you want to buy more of Bitcoins now that the price has decreased to $21,100k will not cause you panic than to help you to prepare ahead for a massive bull market that is about to happen in the market. I believe we are still in the bear season, which is the best season many people use to buy and hold until the bullish season appear before they can supply to make a good profits from their investments. No doubt, bullish season will appear before the end of this month of September for those that bought when the price was $18,200k to start earning from their investment.

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If you're holding Bitcoin for long term, you're supposed to not panic since it would kill your holding journey. It's up to you on how much the price you start to averaging down, it's either you buy every 2 weeks on random price or you need to wait until the Bitcoin price hit x price. You can start when it's decrease every $1K or $2K, if you wait until the bottom, you might missed the bottom.

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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?

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.

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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.

He didn't clear it but I think what he really mean is to panic buy and not panic the other way because if you notice on his second sentence, he wants to know if which price is best for accumulation. We all have our own desired price for buying a btc. Some will buy regularly like per month and they don't care if whatever the price of btc is, while some will wait for a price that was lower than their last buying price.

OP should figure his own once he gains some experience in this field but the best thing that he can do for now is to follow your advice of hodling his coins for at least a month. I think after it, he already knows how to react in different situations or scenarios in this market.

pieppiep

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Quote from: Smack That Ace on September 11, 2022, 05:24:31 AM

There is no need to panic, we can see, according to the OP's post on September 6, the bitcoin price has dropped to $18k but now, in less than a week, bitcoin has also recovered quickly to $21,000. While this is a small, insignificant increase, it shows that bitcoin could also fall but also rise again afterward, so no need to panic but to sell bitcoin at low prices to sharks.

Every time bitcoin drops in price there will be an opportunity, an opportunity for us to buy cheaply, if we want to make a profit, we must buy when the price of bitcoin is down, not sell bitcoin when the price is down.

That's why we shouldn't panic and be able to use the time the bitcoin price fell to buy more bitcoins because after yesterday's decline, the price could recover quickly. And that is good news for us because we can sell some amount of satoshi to withdraw the profit and get back our initial capital while we still wait for another high price. People may think that it is a small gain but if they realize that if they can repeat it over and over again, that small gain will surely grow bigger in the future.

The opportunity to buy bitcoin at a low price will always be there and it depends on how we see it. So we must always pay attention to the market to see the signs of when to buy bitcoin.

Quote from: GreatArkansas on September 11, 2022, 06:14:42 AM

Exactly, there are a lot of ways to recover from this, like you Dollar Cost Averaging (DCA) but you gonna need another capital here. That's why when I am buying on the sports market, I scattered my buy orders, or I always reserve some capital just in case the market will go to the wrong side.

DCA is still the best strategy at any moment in the market because they can buy bitcoins at other lows so they will have more bitcoins. If they could do it, they would be amazed and wouldn't think they could do it.

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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?

Why are you in the rush? You can always hodl your Bitcoin until the market trend recovers. I do not think that it is a mistake to by Bitcoin at $23500, Bitcoin is in for a massive surge this coming bull run though it will take some time.

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?

You can always target every dip as your go signal to average down or if you don't want that type of strategy, you can average down every 500 or thousand dollar interval of price dump. This might need a lot of time monitoring the market but it will give you a very good chance to average down your entry price.

worldofcoins

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Quote from: Charles-Tim on September 06, 2022, 02:52:06 PM

1 BTC equals to 1 BTC. This is an unrealized loss, you do not have to panic, check the price history of bitcoin and see the good reason not to panic. If you can hold for like 2 years, you can just leave it there and see when the bull run will start. I will not advice you to sell in loss if you do not need the money for anything now.

I agree with this reply!

We've seen a similar bitcoin movement from 2011 to 2022.
Bitcoin goes up, then down, then doubles up from the initial down the way I'm writing. It could be hard to understand but keep in mind the longer you hold bitcoin, the better you're set up for the future.

Bitcoin is the main cryptocurrency, and no altcoin can beat it down.

GeorgeJohn

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Quote from: adaseb on September 10, 2022, 10:59:39 PM

Nobody knows what the low will be or if it was $18K. Sure $10K is a great price however everybody is expecting bitcoin to go there and most likely it'll never reach that price and you will miss out.

Bitcoin price is not what we can be accountable for the regulation. Those who are waiting for the price to reach the bottom before they purchase. They are not ready, because it can be tomorrow the price fall below their expectation and it's same as the bottom and same thing is applicable for the price to rise in any points in time.

Beparanf

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Quote from: electronicash on September 11, 2022, 08:02:34 AM

you are still in a good position if you zoom out. a lot of short term investors would panic however if it really goes below $17,000 because that means a break out.

there is still a battle against Gensler (SEC) when it comes to crypto regulation clarity. if this is still a looming threat there is a reason to panic. panic sell results to a loss though. the decision still belongs to him

I see different view on technical analysis when I zoom out unless you are pertaining to the Bitcoin rainbow chart which obviously not reliable since that chart is created for hype purposes since there’s no such parabolic movement in long term. That chart will obviously result to a big bubble if that thing will really happened in the future. I think we need to experienced first the long bear season since that is the part of the cycle before we can see new bullish movement.

You are right that there’s nothing to be afraid of if we view long term but having your money stuck instead on investing it on low price is much better even if you need to cut loss to do it rather than to wait on a very long time. I think DCA is really the best rather than all in purchase at one price point.

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Quote from: adaseb on September 10, 2022, 10:59:39 PM

If you bought near $20K, you most likely about it at 1/3rd of the price compared to the people that invested at the end of 2021 and early 2022. Remember how celebrities were pumping crypto at the time. So many people are bag holding at $60K or so. Many already sold at a loss.

Your price is very close to the current price. Just dollar cost average every week for whatever price we are at and hold on to it. Nobody knows what the low will be or if it was $18K. Sure $10K is a great price however everybody is expecting bitcoin to go there and most likely it'll never reach that price and you will miss out.

Yeah, I wouldn't be too worried about buying in 33% of the ATH. That's equivalent to buying at $7k after the 2017 ATH. Sure, you'll experience pulldowns up to 50% off from your buying mark but they won't be as painful or as long.

That means you needn't worry even at $10k (if we even ever get there).

Perfect DCA moves from now on would have seen you bring your average down to 20k if you've been faithful.

electronicash

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you are still in a good position if you zoom out. a lot of short term investors would panic however if it really goes below $17,000 because that means a break out.

there is still a battle against Gensler (SEC) when it comes to crypto regulation clarity. if this is still a looming threat there is a reason to panic. panic sell results to a loss though. the decision still belongs to him

Franctoshi

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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?

I did understand your reason for panicking at the price which you bought your Bitcoin ($23k) and have it dropped to $18k, while the current price is at ($21k). What does this tell you?, It tells you that Bitcoin is a volatile asset and you need to zoom out and stomach the volatility of Bitcoin and look at the Bigger picture, and define your mission with Bitcoin before coming in to invest,Whether

•You are a short term investor 1Mnth- 2 years (weak hands) Or
•A long term investor 4years -10 years and above (strong hands).
When you answered this question, I guess it will help you know what to do at this point in time.
To tell you categorically Bitcoin isn't for short term minded investors ,Because the price which you bought your Bitcoin ($23k) will no longer matter when HODL and Bitcoin gets back to ($60k) ,($100k) and above.

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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?

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.

GreatArkansas

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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?
(....)

(....)
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.

Exactly, there are a lot of ways to recover from this, like you Dollar Cost Averaging (DCA) but you gonna need another capital here. That's why when I am buying on the sports market, I scattered my buy orders, or I always reserve some capital just in case the market will go to the wrong side.

Smack That Ace

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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.

There is no need to panic, we can see, according to the OP's post on September 6, the bitcoin price has dropped to $18k but now, in less than a week, bitcoin has also recovered quickly to $21,000. While this is a small, insignificant increase, it shows that bitcoin could also fall but also rise again afterward, so no need to panic but to sell bitcoin at low prices to sharks.

Every time bitcoin drops in price there will be an opportunity, an opportunity for us to buy cheaply, if we want to make a profit, we must buy when the price of bitcoin is down, not sell bitcoin when the price is down.

pieppiep

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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?

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.

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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?

I believe you are not detailed with your questions as you did not point out whether you are holding it, buying it on the spot market or future. However, if you buy it on spot or hold it, just seatback and relax, Bitcoin will always bounce back to a higher level than where you bought it.

But if you bought it in future trading, you will have to consider your risk in relation to your account size. If your capital could hold it down to $10,000, then you don't have any issue. If not, I would have told you to liquidate the position on sighting a negative price action on the daily chart. Thankfully, Bitcoin is bullish in the short-term trend and might hit back above your striking level of $23,500 in no time.

Topic: Purchased at $23,500, when should I start to panic? When should I average down? - page 4. (Read 1030 times)