Share your Crypto experience. - page 6.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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.

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 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

Entering cryptocurrency is not based on bad or good times, or whether it is luck or bad luck, rather making a way for us to get income from it depends on the knowledge or ideas that we can get in this crypto industry.

Besides what you said, if your portfolio is down 36% that means you sold it on the trading exchange, right? but if you haven't sold it yet, it's just stocked on an exchange platform, you can tell if you're not a loser or a loss, because as long as you haven't sold it yet and you wait for its value to kick up in the market again, the chances are high that recover and earn money again in the future.

Smack That Ace

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Nothing to fear, not only you but all experienced investors just like you, we are also holding our bitcoins and doing DCA. Bitcoin is a long-term investment measured in years, so don't worry too much about short and medium-term corrections. I think you are very lucky, not as bad as you think, participating in the bear market you will have the opportunity to buy at a much cheaper price than many others. Let's continue DCA, after the rain it will be sunny, bitcoin can't fall forever, history will repeat and bitcoin will have a new ATH in the near future.

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36% is not the worst. There are those whose portfolios have fallen by 70% or more but they have not lost hope. You have to get used to being patient in the crypto space because it is a very volatile field. You may have entered the market with down time but this will not last long The bullish market must come soon, so You have to be patient and keep your assets well in a safe wallet and stay away from storing in central platforms so as not to lose your assets permanently.
Following a DCA strategy will have significant positive results in the long run, especially if you choose your assets carefully.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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.

What's your expectation before you invest? Don't you have any idea on what to look forward?

Because it's a roller coaster ride if you invest in crypto and it really takes a lot of patience otherwise you'll lose your money. If you're able to hold for long and didn't let yourself be influence of FUD then you have a chance to be one of those who can possibly gain once bull market takes place. This situation also happened before and it's only temporary so don't be discourage because being weak won't do any good for you.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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.

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 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

You basically entered when the bubble of the previous bull run had already burst which is probably the worst possible time any person can pick to enter any market, so you had bad luck, however as long as you are invested in bitcoin you can recover your money and earn profits if you can hold your coins, but if you were influenced by social media and invested in altcoins then this is not as likely, as there are many coins which will never recover.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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 don't know how much decrease I have in my portfolio because I am still holding coins that I bought in the last bullish era in 2021. If I am looking at the portfolio, this will really hurt. ut once more, be patinet. I still have another chance in the next bullish. What I must do is by holding tight to the assets until they are able to reach the new ATH or at least pass the price when I bought them. This may be hurt, but this is a crypto investment where everything may really happen.

From this experience, I can take the lesson that I cannot be too greedy by setting very high price during the bullish era. Because If we are too late to take profits, this may end and miss the chance.

ajiz138

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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?

I've been through a lot of experiences, especially since I've known bitcoin for almost 5 years, so whatever experience I've had, it can be said that it's like the ups and downs of water, sometimes we can survive when the market crashes or we even get out of the zone and sell all assets. because of the panic so it was a learning experience for me too.

It is very natural if your portfolio declines by a few percent because of the uncertain market situation even we see prices continue to be due to a lot of negative news that can affect it, one thing that many people can suggest is that surviving is better than cutlos with losses suffered we will definitely recover and that's great too you will continue with DCA rather than nothing, I followed the same strategy as DCA with the aim of lower prices being able to accumulate more at this time.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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

What do you expect in 10 months of thousands of percent profit? In my opinion, a healthy investment is one that will provide profits in the long term, namely yearly, not monthly, because the profit earned in the short period is speculation, which can provide very big profits but also big losses too
If your investment is Bitcoin you just have to be patient enough to keep it and you don't need to pay too much attention to every bad news that appears as well as a decrease in value in USD or Fiat, because eventually Bitcoin will increase in value you just need to keep adding to it every time you have money and with any theory during the target is long term you will get profit, just don't expect to get rich overnight, Bitcoin is not magic.

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Quote from: borovichok on November 22, 2022, 10:03:54 PM

Investing in only Bitcoin doesn't seem like a good idea presently, depending on the fluctuation of the market. There are countless altcoins in the market which can yields good profits if we place an investment on it.

the focus on investing in Bitcoin holdings over the long term is great. that's not a bad thing. especially with what happened to FTT and Luna. it reminds us that a similarly bad situation could also happen to other assets like BNB.
so I guess for now it will be more long term investors focusing on Bitcoin. while those who trade can analyze altcoins for trading.

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Quote from: palle11 on November 22, 2022, 08:52:00 AM

Quote from: cryptoaddictchie on November 22, 2022, 07:31:45 AM

Dont be greedy and always take profits.

This an important advise that comes with experience also. To take profit gives an encouragement and confidence to the trader. When you see an increase in your wallet or trading portfolio you can think rightly because your emotions are calm. If you leave your profit sometimes the market reversal can eat it up. I have experienced this alot of time and have realized this as a disadvantage to myself if the market don't come back to my profit then I have lost that particular profit. So I act promptly to take my profit when I'm not certain about the next market move because staying outside is better to be inside and get consumed.

The thing that is very difficult for a trader or an investor to avoid is greed. We have heard a lot about people who are destroyed because of their own greed, they are never satisfied when they experience benefits and even tend to be dominated by greed which causes them to break. Maybe this kind of story will be considered indifferent if they have never experienced it, but we will realize when we experience it for ourselves. Don't let greed rule us, we can prevent it by targeting the amount of profit.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 PM

When you join cryptocurrency during the bear market, you might think you have made the worst mistake of your life, but I think that's the best thing that will happen to you, it gives opportunity to buy coin at a very cheap price, since I don't think anybody can catch the bottom, so after buying your coin, it might still endup dumping more which you will regret buying it, but just have patience and hold.

If you started trading during the bull run and you will think that's the best thing that have happened to you because you will definitely be making money and immediately you buy a coin, they will start pumping and you will be in profit, but when the bear market steps in, then you will understand that you bought those coins when they are at the top. Just imagine someone that started trading in the last bull run and was happy, imagine the person bought bitcoin at $60k, and someone that started trading during this current bear market and bought bitcoin at $16k, definitely the person that started trading during the bear market is the lucky one, but the person might think he is unlucky.
The only thing I will recommend you to do is just hold and invest in only bitcoin.

Investing in only Bitcoin doesn't seem like a good idea presently, depending on the fluctuation of the market. There are countless altcoins in the market which can yields good profits if we place an investment on it. But it's one of the good investment to place on bitcoin, it's one of the top coin and also have a promising future ahead, I would urge anyone in the space to take good advantage of the golden opportunity before us, Bitcoin at $16k is really an opportunity we can't afford to miss, definitely not now that we're well highlighten about the space.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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.

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 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

10 months is not a quick time to profit from crypto, and I understand because you are a beginner and maybe you have seen ATH before as an example, because a lot of people made big profits then. And it makes you think you can be profitable in a few months or years.
and what you should know is that they really go through a long process, especially patience to make good and long-term profits is the best choice in investing in this industry. For trading, it all depends on the market situation and the coins you hold, which in my opinion is not the right time to make profits in trading at this time and it is very risky.
DCA is a particularly effective option in the current situation, as it is the perfect time for you to increase your purchases during a downturn because they are cheap. And always use money you can afford to lose during the purchase and hold it for the long term.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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

When you join cryptocurrency during the bear market, you might think you have made the worst mistake of your life, but I think that's the best thing that will happen to you, it gives opportunity to buy coin at a very cheap price, since I don't think anybody can catch the bottom, so after buying your coin, it might still endup dumping more which you will regret buying it, but just have patience and hold.

If you started trading during the bull run and you will think that's the best thing that have happened to you because you will definitely be making money and immediately you buy a coin, they will start pumping and you will be in profit, but when the bear market steps in, then you will understand that you bought those coins when they are at the top. Just imagine someone that started trading in the last bull run and was happy, imagine the person bought bitcoin at $60k, and someone that started trading during this current bear market and bought bitcoin at $16k, definitely the person that started trading during the bear market is the lucky one, but the person might think he is unlucky.
The only thing I will recommend you to do is just hold and invest in only bitcoin.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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 may see this current market as a bad time due to the downtrend in the price of your portfolio but this is actually the best time for crypto investment and I will advise you to always choose Bitcoin which is the safe haven in the crypto market.

Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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 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

I believe you have already gotten the needed understanding of the crypto market but the bull run market varies and sometimes it happens before the BTC block halving is executed while it happens sometime after.
I will just advise you to continue DCA on BTC every 2 weeks as you stated and dont keep your holding on exchange.

palle11

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Quote from: cryptoaddictchie on November 22, 2022, 07:31:45 AM

Dont be greedy and always take profits.

This an important advise that comes with experience also. To take profit gives an encouragement and confidence to the trader. When you see an increase in your wallet or trading portfolio you can think rightly because your emotions are calm. If you leave your profit sometimes the market reversal can eat it up. I have experienced this alot of time and have realized this as a disadvantage to myself if the market don't come back to my profit then I have lost that particular profit. So I act promptly to take my profit when I'm not certain about the next market move because staying outside is better to be inside and get consumed.

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Quote from: YOSHIE on November 22, 2022, 08:17:44 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.

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Quote from: JamesDaniel90 on November 21, 2022, 01:59:20 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.

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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.

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Quote from: JamesDaniel90 on November 22, 2022, 06:42:04 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.

Topic: Share your Crypto experience. - page 6. (Read 1669 times)