Share your Crypto experience. - page 6.

Ryker1

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Quote from: YOSHIE on November 22, 2022, 09:17:44 AM

^[snip]
My advice: if you invest in the crypto market do it in the long term, not short term.

Well, this a piece of short but very effective advice --this perhaps people looking at when they are planning to invest. The amount that you can afford, the amount that you can able to forget in a long term not always thinking of profit in just the short term. People should learn about this because this is a safe method of investing in trusted crypto like bitcoin, think about the future --not just every single day past just always looking at your portfolio.

YOSHIE

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I am just wondering if those who have been involved with crypto for a few years at least could share their experience and offer any advice for those new like myself?

Investment is good, generally Chinese people have taught their children from an early age, if you already understand crypto, of course investing in crypto is a good step, but investing is not in a short time, it's not an investment, you can't make too much for the 1-2 weeks you invest.

Trading on the crypto market may be good to do within 1-2 weeks, depending on the market movement on the type of crypto you are trading, remember trading has a high risk of losing your money, trading requires expertise and trading knowledge, such as: understanding of charts, analysis, volume, market, and so on, you can't trade carelessly it will be fatal.

My advice: if you invest in the crypto market do it in the long term, not short term.

cryptoaddictchie

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Ive been into market since then like years of patience has been there from day 1 up to now but there are circumstances that we still down a lot due to out wrong moves and processes of trading.

It is always hard to perfect it and make it right. Gaining profits should be patience, with the market sympathy we always need to be cautious ecen though we are already gaining a lot. Dont be greedy and always take profits.

tech30338

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Quote from: JamesDaniel90 on November 22, 2022, 07:42:04 AM

For those who have been in crypto since the last bear market are these low prices normal or something to be concerned about?

I will continue to DCA but with the last few weeks of bad news surrounding crypto I am more cautious now.

I think if you will look at the chart last 2017-2018 and 2020-2021 this are times where the price shoots up and goes down temporary , the reason for this are lots of things like for example the ftx collapse, luna, and other crypto currencies that has almost the same pattern of price going down, this concern the people who holds the coins in result they get out of the projects, and stay in usdt for a while waiting for the perfect moment to jump again, because at the end of the day for people who are here before us its just a cycle, the news and fud's make the market so volatile.

JamesDaniel90

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For those who have been in crypto since the last bear market are these low prices normal or something to be concerned about?

I will continue to DCA but with the last few weeks of bad news surrounding crypto I am more cautious now.

tech30338

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I have been to crypto space since 2016 , and i have experience a roller coaster ride i tell you, one time I profit a lot for a certain coin, and the next day its all gone because i fail to get out and convert it to usdt, or bitcoin, but i have learn a lot of things like, you should be prepared, and don't let your emotions, make decisions every time, when its time to get out do it, also gain lots of friends, and exchange information's, also brings me here in bitcointalk where you can learn a lot, simply by reading topics.

Franctoshi

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Just be ready to experience crazy Bitcoin and crypto movements at any given time either ways up or down and also get used to it, because Bitcoin is the captain of this cryptoship and can rough drive when there's big wave in the ocean to navigate those obstacles, The bottom line is that Bitcoin does what it wants to do at any given time and do not panic it's part of the long term journey, because #HODL is not just by mouth, you will definitely see some shake out along the road.

len01

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

no. it's not a bad year for you, but it's a good year for you to buy with the DCA strategy at a low price such as getting a big discount

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

My portfolio is currently 36% down And feel I have no choice but to hold till the next bull run which is hopefully only 12-18 months away. I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

I see you are investing in the right coin (Bitcoin) so I think 36% is not difficult if you are patient you will find more than 36% profit.
and 12-18 months for me that's not a long time for bitcoin. look at the history of bitcoin for several years and always provide the best for long term investment

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I am just wondering if those who have been involved with crypto for a few years at least could share their experience and offer any advice for those new like myself?

Thanks

The key to investing success is to be patient. if you are able to continue DCA and patiently wait for the next few years, you will find something extraordinary that bitcoin has in store for you.
but it all comes back to you whether you are able to be patient holding your assets in a few years

Mpamaegbu

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

Outwardly, yes you got in at a bad time. However, technically that's a better time to get into crypto when the chips are down so you can buy in cheap. So many people who bought earlier are already caught up in this dwindling price and are regretting it now.

Quote

I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

If as a newbie you already have this type of mindset I would say you're doing well. Keep it up with DCA and patiently wait for the bull season in 2023/2024.

JamesDaniel90

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Thanks for replies so far.

I started investing in crypto in January but it wasn’t until the June crash that I started Bitcoin. I have DCA Bitcoin weekly since June and my average buy is currently $19k so feel that was a pretty good time to start accumulating Bitcoin.

I am hoping these very low prices last at least another 3 or 4 months so I can accumulate as much as I can. I am currently focusing more on Bitcoin as some of the altcoins i have invested in are down over 90% since all time high and not sure if they will survive bear market.

Pandu Geddon

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You have to be patient with the decline in the value of the assets you have. you enter the market in a situation that is not good. even some new people who start the same as your position, I'm sure many come out with losses.
if you persist and try to manage your investment assets with better planning. I'm sure you will benefit from the investment you make. the crypto market is not a place to get rich and successful in a short time. a lot needs to be learned to make it all end well. hope you get everything from your patience.

PX-Z

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36% down is still okay, many including me experienced more than 50% in my early years way back on the 2017 bull run and the bear market later on.
DCA is the best way for long term investment, so keep up and just wait.

kawetsriyanto

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

You don't join crypto investment in a bad year, instead it is the right time to buy coins for investment. Since all crypto coins have decreased their prices very significantly, it is your advantage to buy many coins as cheaply as possible. If you are a real investor, you should realize this opportunity and you must don't care about the current drop in your portfolio. Commonly, people will hold for around 3-4 years, they target to sell in the next bullrun (after BTC halving). So, if you have bought enough coins, you can keep them in your private wallets and forget them for around 3 years.

Oceat

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You have no choice but to hold though considering that you invested 10 months from now then you probably be investing when the price was at $30k to $40k-ish and it would be a big loss if you sell it today due to stress and desperation. It's better if you stay away from the market if you always feel like irritated because it won't last just a day since you have to wait till the next bull run.

Try to do different things than what you used to do especially in the crypto market, instead try a new or different hobby that you didn't do in a long time. So that you won't be burn out stressing yourself when you can't do anything at the market.

kamvreto

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it won't be bad when the investment is made properly. If you've been in the market for 10 months, this year will certainly be a bearish year that will make you lose a lot, but you have to remember that this situation is a good opportunity to enter the market. If you have spare money, buy it gradually and hold it. A portfolio decline of -36% is still very reasonable, I myself have even experienced a portfolio decline of around -90%, as long as you don't cut losses there will be no loss, you just need to be patient and wait for the bull market to come.

sheenshane

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

My portfolio is currently 36% down And feel I have no choice but to hold till the next bull run which is hopefully only 12-18 months away. I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

It's a good decision to hold until there's a new ATH will come but don't expect it will happen in a shorter time, there's no time frame for that so invest that you are willing to wait and the amount that you can afford.

Usually, as per the past history of Bitcoin price, ATH will come after Bitcoin's next halving and it's expected that will occur after a year. So possibly 12-18 months isn't enough and might you need to extend your patience until seeing there's a bull trend in the market.
For now, full your bag, and continue purchasing Bitcoin in a DCA way.

examplens

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Quote from: mk4 on November 21, 2022, 04:12:48 PM

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

Guess what — 10 months is nothing when it comes to Bitcoin/crypto or investing in general. Want to succeed in this space? Get used to patiently waiting for years and years.

when we talk about the time period and investing in bitcoin/crypto, what is the acceptable time frame? is it worth the wait and what happens next?
I mean, you invest and hold for 10 years, but what next? just extend the duration of the investment and so on ad infinitum or just enjoy the pleasure of owning cryptocurrency?

if I'm not mistaken, "hodl" hype was created by the creators of shitcoin so that their coin would not be devalued by selling.

joker_josue

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

I don't know what your investment pace is: you buy a little every month; if you bought everything you have 10 months ago.
But as has already been highlighted by several users, the investment - especially in Bitcoin, is a medium / long term investment. It's buy and wait.

If your strategy is to buy a little every month or occasionally, then now is a good time, as the value of BTC is at the same level as it was in 2020. And stay tuned, to buy again if it drops even more.
By doing this, you will be able to lower your average purchase price and allow you to feel more secure in the future, despite the changes in value that may occur.

Dunamisx

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

If you're lucky enough to have invested in the right and appropriate coin then congratulations but you need to be patient since we are still in the dip with bitcoin price, a little patience could change alot of stories about investing with bitcoin, maybe sometimes next year you may push for sell.

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

My portfolio is currently 36% down And feel I have no choice but to hold till the next bull run which is hopefully only 12-18 months away.

And this is the only recovery means to regain back your portfolio as stated by you only if you can hodl, consider it that there's coming another bullrun that will make a new all time high during the halving period but only those that buy the dip and hodl will benefit such period.

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

Two weeks interval is still better than none, all you need is to maintain it with consistency and you will get and enjoy the end result to your decision.

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Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I have now been investing in Crypto for 10 months and its been a test of patience thats for sure, feel like I have entered in a bad year with lots going on causing these bad times and low prices we are currently seeing.

It depends on how you look at the market.
A good year is mostly referring to one in which the price is spiking up and if you enter at that time, it's very likely you would be buying at or close to the top, but when you enter earlier, you have the opportunity to accumulate at lower prices, building says all the way up.

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

My portfolio is currently 36% down And feel I have no choice but to hold till the next bull run which is hopefully only 12-18 months away. I will continue to DCA but in recent weeks I have slowed down having gone from investing every week to every 2 weeks as the prices just keep falling.

• The next bull run could be more than 2 years away.
• Drop in prices should be an opportunity to buy more at cheaper prices rather than slowing down.

Quote from: JamesDaniel90 on November 21, 2022, 02:59:20 PM

I am just wondering if those who have been involved with crypto for a few years at least could share their experience and offer any advice for those new like myself?

• Invest as much as you can spare.
That's the most important advice to navigate the market and avoid selling at a loss. If you invest smartly, you can easily hodl through different market conditions than someone who takes out money they need or takes a loan to invest
• Also, keep your assets out of exchanges or custodian platforms.

Topic: Share your Crypto experience. - page 6. (Read 1449 times)