So my portfolio is down %70...too late to pull back now I guess - page 4.

uelque

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

The market will soon be okay and we are all sure of that, it's just that we really don't know when. And don't worry that much about the loss you are experiencing right now because you are not alone. As long as we are holding or we have invested in good coins or coins that somehow have the potential to become big then we are safe. Once the market goes back, everything will be fine. We just have to keep on holding and be more patient. This kind of downtrend already happened before so nothing is new anymore.

Ziskinberg

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Then it is a need for you to skip some days of not checking your portfolio in order to keep you healthy.
Whar you have experience, is also what the most had experiencing this time. However, they are able to understand the market condition and accept the challenge.

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Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

Those who know crypto and being here a decade before, they'll exactly have the experience of this and had witnessed the recovery of the market.
The market had follow the market cycle, bear market- bull market, and vice versa. We are certainly expecting prices to roll up high again.

cheezcarls

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

I feel you. I’ve started getting serious into cryptocurrency in late 2017. And as of now, I am no stranger when it comes for my portfolio to get dipped for a long time (and mostly even got rugged and abandoned plus making poor decisions of being greedy rather than taking profit early in altcoins). I am getting used to it, except the one day that I was hacked $12k due to a malware that I have accidentally clicked over a month ago.

The worst downtrend I have ever experienced was in 2018 because I had a lot of good assets there that I have hold but got dipped much harder and I was so greedy holding and believing that it would recover, but it didn’t. Lesson learned indeed.

hyudien

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Quote from: Viscore on May 21, 2022, 05:32:13 PM

You should have known the market before you start investing because what we have right now is just a repetition of the past bear market conditions. Whether you invest in bitcoin or in any good altcoins, the moment bear market turns in, its normal to see our portfolio losing that much. However, the market will not be like this for years. Things will come back to normal again when we start receiving positive news that will bring its momentum and boost the market value again.

Along with the celebration of Bitcoin Pizza, it looks like the market is showing its existence again. Whether it's true or not about the relationship but I'm still very optimistic that it will stay above the line of support giving us a little bit of room to breathe. In the midst of unstable market conditions, altcoins are not an option. So the power to make big profits is in Bitcoin.

Hamphser

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

How many times if we do base up on lots of years I've been here on this market which lots of downs and ups that I'm able to experience .Yeah it's normal to freak out but you should put up into your mind that as long you don't sell then those coins won't be having materialized losses which means that you would really be still having that chance for you to recover.

Try to use DCA system if you do have the money to invest on which it could really take advantage of the drop and make profits instead on the time where market starts to recover.

South Park

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

Since you are down 70% I suppose that you have invested in something else other than bitcoin or you are not just holding and you are trading as well, but whatever the case we have seen even more dramatic crashes in the past, what you need to do is to rethink your strategy, if you were holding altcoins for the long term the first question that comes to my mind is why did you do that? Altcoins are to be traded but not to be held for the long term, and if you are only holding bitcoin then maybe holding is not for you as you are not able to endure such losses and trading could be a better option for you.

NotATether

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

BTC went down by about 200-300% in early 2018. And even that was just a temporary phase.

I'm not quite sure how your portfolio lost 70% unless maybe you bought when BTC was at $60K or somewhere around that. Because from the normal $48K prices, the total loss is actually just around 35%.

At any rate, talking about percentage figures will just make you more anxious if you're in this kind of state right now. My advice is to just forget about it all for the next few weeks. It's very bad for your health to keep it focused on the stock market, particularly the downs. So just take a break from looking at the prices.

UmerIdrees

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

Lunch money? Did you invest your money in crypto which you needed on daily basis? It's always emphasized here that invest only which you have spare with you so that you have the power of holding in bear times.

What was your buying price? Its hard to see bitcoin pumping back to 40k-50K level any time soon as it is struggling to maintain the support of 30K ? You never know if you may see bitcoin between 15-25K during the fourth quarter of 2022.

Darker45

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Not only did we experience this kind of downtrend before, we experienced much much worse than this. As per Coingecko, Bitcoin's price right now is only 57.3% less than the ATH. And the ATH was reached just 6 months ago. Surely, you didn't buy during the ATH so your portfolio must have registered a much lower paper loss. The 2018 bear season, in this regard, is much worse. Furthermore, the bear season right now has only been running for a few months. Again, the 2018 bear season was much worse.

I'm sorry that the market has caused you certain health issues. But I must tell you that quitting at this point might not be worth it. There's no point telling you that you should have known better, that you should have sufficiently informed yourself of what you're getting into. So for now, this is the kind of market you are in, stay strong and HODL. I think that's better than accepting your loss and sell.

tbct_mt2

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Quote from: noorman0 on May 21, 2022, 09:55:03 PM

If you analyze a 4 year cycle (based on the bitcoin halving), this trend is just routine and will inevitably experience a price bounce. Likewise, the top altcoins which are usually influenced by bitcoin prices will experience the same trend.
But here I'm not talking about altcoins (or alttokens) that grow based on hype, looking at the fact in the last 5 years maybe 90% of them have failed to recover.

Market has its cycle that will be repeated. People have their basic instinct that they mostly don't change. So winners will be winners and losers will be losers now and in future cycles. Because most of losers don't change. They only can become winners in future cycles if they are able to change themselves.

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Another note, there will always be regret in every price trend, even if you make a profit from it. But what can you contend with when faced with the discontent that inevitably clings to the ego? What they really want is to buy at the bottom and sell at the top

Market has many opportunities and cryptocurrency is here to stay. It will mature more with time so you don't have to be fearful that it will die next year and no more opportunity for you. Let's get rid of such non sense fear.

When you don't fear of missing out, you will be safe and you will have other opportunities to take at better entries.

GreatArkansas

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Quote from: noorman0 on May 21, 2022, 09:55:03 PM

But here I'm not talking about altcoins (or alttokens) that grow based on hype, looking at the fact in the last 5 years maybe 90% of them have failed to recover.
(....)

OP must make a decision here, I am afraid that OP invested in some altcoins that started during this season or pure hype and lost their value in just a short period of time.
OP can convert their altcoins to some high market cap altcoins or even in Bitcoin because if the market will recover I believe some altcoins will not or the percentage is small compared to other altcoins/Bitcoin. I realized this last bull run and a bear market.

noorman0

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[Nope]No hype delivers more than hope

If you analyze a 4 year cycle (based on the bitcoin halving), this trend is just routine and will inevitably experience a price bounce. Likewise, the top altcoins which are usually influenced by bitcoin prices will experience the same trend.
But here I'm not talking about altcoins (or alttokens) that grow based on hype, looking at the fact in the last 5 years maybe 90% of them have failed to recover.

Another note, there will always be regret in every price trend, even if you make a profit from it. But what can you contend with when faced with the discontent that inevitably clings to the ego? What they really want is to buy at the bottom and sell at the top

tbct_mt2

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Two possible future for you.
- You can get your capital back 100% if you chose good projects fundamentally. Even if you bought it at all time high, you still can have chance to get it back.
- You will lose more than 70% up to 90% or higher if what you chose are bad projects fundamentally. Because the bear market is just started and has yet found its bottom.

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Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

It happens many times. In bear market, altcoins lose more than 95% of their values from all time highs. After the bear market goes away, most of altcoins die.

https://coinmarketcap.com/historical/

Oceat

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This is the right time to think of how to buy the dip and not on how to sell low because we can't help it when the market is in bearish already. All we have to do is to HODL instead of panic selling no matter what or how much down your portfolio is and I hope someone should not make the same mistake others made already in the past. Just think this as an opportunity to buy Bitcoin in lower prices than thinking how to make profit when the market is declining.

Make the decision already or lose everything you have work for in a minute.

btc_angela

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Yeah, I guess it's too late, 70% down? might take risk here and choose to let my coins sit in my wallet and 'hope' for the next bull run to happen (although it might take 2 years for it).

And just like the rest of us, I'm a 2017 baby here in the community, so I have seen the bull run and then the bear market that followed. And I did survived although it really did test my capacity as a trader or investor in this market. There are times that I wanted to quit and sell off my bitcoin at a loss, but I did try to control and eventually made good profits last year. So the OP might be going to the same emotions that why his health has been affected too (same with me but I just keep a positive thoughts that eventually my investors will recover).

teosanru

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

One thing I have learnt in trading is that it is never too late to get in and never too late to pull back. Market is entirely unpredictable you might see another 70% downfall from this point or you might get even see an 100% uptrend from this point both the things are very much possible, we have experienced many worse downfalls than this and market has recovered from them every single time it will always recover in future as well. But yes it might go even down so you are losing an opportunity to sell high today and buy cheap later by mitigating the risk of price recovering from here only.

Viscore

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Quote from: hyudien on May 21, 2022, 01:07:46 PM

Have you forgotten that we have had many moments? You should be aware of today's Bitcoin price which has finished from a great bullrun but is still holding above the support line.

You are not the only one who has experienced a minus portfolio, but almost everyone including me has also lost 50% of the current total holdings. Since I don't store them in altcoins, then no matter what I already know Bitcoin will come back with a strong push in the future.

You should have known the market before you start investing because what we have right now is just a repetition of the past bear market conditions. Whether you invest in bitcoin or in any good altcoins, the moment bear market turns in, its normal to see our portfolio losing that much. However, the market will not be like this for years. Things will come back to normal again when we start receiving positive news that will bring its momentum and boost the market value again.

DoublerHunter

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

^Yes, and much worst than this.
A downtrend is very normal in the crypto space but as long as you did not execute selling your amount of BTC will remain the same and nothing will change, for example, if you own 1 BTC it will remain 1 BTC if you did not sell it. Just keep holding your coin until the market will resist because for us, this is just a market correction that anytime the market will grow.

taufik123

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In the crypto world, a downtrend as it is today has become commonplace for old crypto users, even this is still incomparable to the past downtrend.
If you enter crypto, you must be prepared with strong psychology, because price fluctuations will be faster, the risk is the responsibility of each.
If we lose up to %70 then hold on and don't sell cheap, you really have to have some spare money. there is a time when the market will return to normal and bullrun, that's for sure.

Baofeng

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Quote from: 9thsky on May 21, 2022, 12:40:18 PM

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

I'm sorry to hear about your health though and hopefully you can recover. Not sure when you enter you, maybe it was about the end of bull run?

As for me, yeah, seen the last bull run in 2017 and then the subsequent bear market that followed, 2018-2020 and it was really hard. Nevertheless it has bounce back late 2020-2021. So that's kinda what the trend is, bears/bulls. So right now we are in a bear market so again, another difficult and painful period, but we should stay resilience and have the patience to be in the market still despite the price of bitcoin and the rest of the crypto are falling hard.

Topic: So my portfolio is down %70...too late to pull back now I guess - page 4. (Read 689 times)