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

qwertyup23

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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 remember there was an instance that during the last quarter of 2017, the prices of BTC skyrocketed from $4,000 to almost $20,000. Every person who despised BTC at that time was forced to invest and there were lots of people who were also unaware of what they are investing on. When the first quarter of 2018 came, prices dropped from $20,000 to $6,000 and people were losing their minds, saying that BTC is a "bubble" and a "scam."

So what lesson can we gain from here? First, you must always create a contingency plan before you invest. If your investments are down by 70%, then you failed to pull them out before they reached 70% to begin with. Personally, I would HODL your coins since it is already down by 70%, might as well just wait.

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Quote from: Ultegra134 on May 28, 2022, 08:36:46 AM

As someone who also panics during such periods, I've decided to not resort to any Altcoin purchases and stick to holding Bitcoin. I'm considering it as a long-term investment, thus, I've stopped worrying. Trading and especially dealing with Altcoins was causing me anxiety during periods of recession, that's why I decided to stick to Bitcoin.

The majority of the altcoins should be just a way to be able to accumulate more bitcoin because when it's alt season they gain value against bitcoin, the problem is that when the market goes down, altcoins lose way more value compared to bitcoin, they are usually very weak. With this I'm not saying that all altcoins are bad, I really like BNB and DOT for example.

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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've seen Bitcoin went down more than 80% last 2018 and for sure, there are some investors who experienced way more losses than you have right now.
Same situation here. Your impermanent loss is 70%, and it will not be permanent unless you will sell it. Right now there are investors who are experiencing the same as you right now or even a higher impermanent loss.

In 2018, that downtrend took almost a year before we see some daylight. Now I don't know how long this will happen and there is a chance that it last until the end of the year. The best thing to do right now if you are down 70% is to just stay calm, accumulate more and be patient. Many of us are down as well. Even CZ and Vitalik are down in their portfolio as well. It will recover soon. Just be patient

.

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That's right, me too. This downtrend has also brought many surprises in history this year, some even went viral for up to 99% free fall and almost no price. Some prefer to keep the coins stable and accumulate them in certain wallets/markets. You believe the past will repeat itself, maybe saving without cutting the current price like bitcoin and eth could return to a bearish position in the future. natural law predictions can turn a bull market into a bearish one.

Slow death

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your situation is very complicated, you can choose to hold for many more years waiting for the price to recover and if you have a lot of money invested and if you need to use a part of the money, use a part of the money and hold another part of the money , you can also choose to keep buying every drop because that way when the price recovers you will have high profits and not come out with losses. But pay attention:

-If you bought any altcoin then I suggest you pay close attention if that altcoin still has any future in case it has no future then you can exchange for bitcoin and hold that at least you will be able to recover your loss

SpenserReed

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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.

That's a big chance it will recover soon, just look at BTC 1W chart - we are near very strong support right now. Cool

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Quote from: Kakmakr on May 28, 2022, 06:38:54 AM

I have been there several times before .... and if I panicked I would have lost a LOT of money. I bought bitcoins when it was $300+ and also when it was $21000 .....and then it went down with almost 60%! If I sold... I would have kicked myself into a Mental institution, because shortly after that.... the price increased with 800%.. Grin

If you use Bitcoin as a "Commodity" or an investment option.... you should look at it as a long-term investment. It is not some "Get Rich Quick" scheme, where you come in and quickly take huge profits. Roll Eyes

As someone who also panics during such periods, I've decided to not resort to any Altcoin purchases and stick to holding Bitcoin. I'm considering it as a long-term investment, thus, I've stopped worrying. Trading and especially dealing with Altcoins was causing me anxiety during periods of recession, that's why I decided to stick to Bitcoin.

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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 understand how you feel, it's very hard to accept that reality, Im also experienced that in 2019 and it's really hard. Just Imagine 70% of your portfolio was already wipeout so that was really hard to accept that it was happening. but don't let that feeling devours you.

I believe that in crypto everything is possible, so just don't lose hope, because until you hold that portfolio and you won't sell anything, you have still a chance to recover it. just think positive, 2024 is another halving year so who knows that Bitcoin price will achieve another ATH milestone.

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keep holding because you've lost 70% can't be saved, just waiting for the market to recover that's all my advice at this time. downtrends like this have existed but are not as extreme as now

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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.

Typical newbie investors mindset? This is not the first time and this is also not going to be the last time that we see this much of ups and downs in the price range. In general we see the cycle of 4 years so hopefully you will be in profits if you can hold for the next 4 years but never expect the returns on your investment from the next day itself from you invest because everything will take time even rich person like Warren Buffett needs decades to reap his profits in the initial stages.

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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, I have experienced that before, when I dump because I panic, I just regret it later. You know, if you are into long term holding, you should keep your faith in the coins you are holding as what we are seeing now is normal, we are in a bear market, of course, the price will go down, but once the market will turn bullish, things will improve and it will make you profitable.

Bitcoin will reach a new ATH in the next bull run, believe that.

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I have been there several times before .... and if I panicked I would have lost a LOT of money. I bought bitcoins when it was $300+ and also when it was $21000 .....and then it went down with almost 60%! If I sold... I would have kicked myself into a Mental institution, because shortly after that.... the price increased with 800%.. Grin

If you use Bitcoin as a "Commodity" or an investment option.... you should look at it as a long-term investment. It is not some "Get Rich Quick" scheme, where you come in and quickly take huge profits. Roll Eyes

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Of course 2018 was much worser than what we've experienced so far thus year. And to answer your question @OP - it's indeed late to pull back now, we just need go sit back and relax and of course make sensible use of the bear market to bag up more.

niceli

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It is clear that people will always look for a way to get out when they are losing, instead of getting in even further more. I personally believe that the drops are not the times to get out, it is not "too late to pull back", because it is not a time to pull back. I always believed that anyone who chased these crashes and found them and invested right when the drop happens, that means that they could end up making a profit when it goes up. Just chase %50 drops and x5+ increases, thats it, and you are going to end up being super rich.

isaac_clarke22

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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.

Considering that you had registered in this forum for almost 5 years, you should be aware that downtrend for Bitcoin when it was down to around 4k-ish after it attempted to reach 20k the same year (2017).
Knowing that it affects your mental health, you should stop worrying too much about crypto for now. Believe me, it is like a snowball waiting to grow if you keep thinking about it now that we're talking about mental health.

Source: Been there mid-2018.

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Quote from: Ziskinberg on May 22, 2022, 07:46:48 AM

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.

Quote

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.

When the market goes down, it's best not to check your portfolio constantly. That will not improve our spirits but only make us feel worse and will make wrong decisions. The market grows sharply and then plummets, so to speak, this is how the cryptocurrency works that the OP should get used to and adapt to it if the OP wants to continue to exist in this market.

Not just you, I guess everyone here our portfolio is falling but very few people have to worry about because everyone knows the market will recover and we won't lose anything if we haven't sell your property.

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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 current downtrend is indeed quite severe if we compare it with what has happened in recent years, the strong hammer on bitcoin prices has made various investment assets we have experience a price decline of more than 50%, I think you're not the only one experiencing a decline in portfolio estimates right now, but for those who have been holding bitcoin and altcoins of course experiencing the same thing and maybe even altcoin holders like terra are the ones who feel the most affected by the current decline, while maybe for BTC holders, they still have greater confidence because many of them hold for the long term.

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Quote from: AmoreJaz on May 27, 2022, 12:56:35 PM

Quote from: Ultegra134 on May 27, 2022, 12:51:57 PM

Due to the Terra incident a few weeks ago, I woke up one day my wallet had lost over 40% of its value because of the depegging of UST. I had my money on staking and could never had imagined that it would result in such a loss. Fortunately, I was able to recover most of it, since it came to $1, but still lost a decent sum of money for my own standards.

On the other hand, my Bitcoin has lost over 50% of its value, but I'm not that worried, because I'm aiming long-term and not planning to cashout anytime soon.

if you're not cashing out yet with btc, you will not incur losses yet. because the likelihood of bouncing back is just around the corner. however, the situation is different when you talk about the LUNA scenario.
so if the OP has large percentage of btc in his portfolio, he may be down today but it doesn't mean he already incurred losses if he has not sold it yet. if you're holding, then, you have the chance to get your target profits when the market goes bullish again.

Yeah, I'm not converting my Bitcoin, I'll hold till the market recovers, and then I'll reconsider what to do with it. I mentioned the Terra incident as an example, where me and plenty of others were forced to take a loss, it was inevitable. With Bitcoin though, it's a completely different story, since I'm pretty confident that it will recover in the next 1-2 upcoming years.

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Traders and investors will tell you that it doesn't work like that. You take a loss whenever your asset goes down in value, you just don't accept this it but cannot deny that it is there. You can see it being down 20% and think that you'll wait for recovery, but what if this recovery takes 10 years? You will be at a loss the whole time even if you won't accept it, it will be like your money's frozen. You won;t be able to use it because using it would mean accepting the loss and selling at this new low price.

Don't worry though. throughout my time in Bitcoin i was at a loss in my first bear market in 2016 but i took it like a man and held. Then we had that drop in 2020 and I was at a loss again, but I held. There's almost no way that we're going to revisit 2020 lows ever again. Just think of the worst and be ready for it. 20k this year? Bring it on. Once we reach the lows there will be only higher prices from that point.

Gyfts

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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.

Your portfolio isn't down anything until you sell. Rule number one of investing: losses are not losses until you realize them by selling.

The market will recover, it always will. Panic selling or selling out of depression to cover your losses at a time when all the markets are down is foolish. The only circumstance in which you should liquidate any asset is if you're in desperate need of funds to cover immediate expenses. At that point, I'd argue that you've invested too much into the market if you don't have enough cash left over without forcing yourself to take funds out of the market. Unfortunately I saw this with COVID. People lost their jobs and were forced to pull their funds out in a crashed market because they didn't have any income. Hopefully you're not in this same predicament.

Point being, HODL.

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Quote from: Ultegra134 on May 27, 2022, 12:51:57 PM

Due to the Terra incident a few weeks ago, I woke up one day my wallet had lost over 40% of its value because of the depegging of UST. I had my money on staking and could never had imagined that it would result in such a loss. Fortunately, I was able to recover most of it, since it came to $1, but still lost a decent sum of money for my own standards.

On the other hand, my Bitcoin has lost over 50% of its value, but I'm not that worried, because I'm aiming long-term and not planning to cashout anytime soon.

if you're not cashing out yet with btc, you will not incur losses yet. because the likelihood of bouncing back is just around the corner. however, the situation is different when you talk about the LUNA scenario.
so if the OP has large percentage of btc in his portfolio, he may be down today but it doesn't mean he already incurred losses if he has not sold it yet. if you're holding, then, you have the chance to get your target profits when the market goes bullish again.

Ultegra134

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Due to the Terra incident a few weeks ago, I woke up one day my wallet had lost over 40% of its value because of the depegging of UST. I had my money on staking and could never imagine that it would result in such a loss. Fortunately, I was able to recover most of it, since it came to $1, but still lost a decent sum of money for my own standards.

On the other hand, my Bitcoin has lost over 50% of its value, but I'm not that worried, because I'm aiming long-term and not planning to cashout anytime soon.

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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.

You need to focus on something else so as not to harm your mental health anymore. Life is not limited to just observing the exchange rates and the crypto market. In any case, you still can't influence the downtrend in any way, and even more so the price of cryptocurrencies. From your close observation of the price charts on the coinmarketcap, you will not trigger a bullish trend. Also, stop thinking about your losses. It's are not real, as long as you control yourself and don't sell your assets. The duration of this trend may turn out to be a year, but two, but certainly not 5 years. Assume that this will most likely last more than one week and more than one month, therefore, be patient.

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Quote from: alisonwonder on May 27, 2022, 12:16:43 PM

Quote from: mindrust on May 27, 2022, 10:22:18 AM

Are you mostly in alts? Because if you are, then your pain and suffering might have only begun. Bitcoin came back from every major crash happened before but alts don't share the same luck.

If the portfolio is filled with altcoins it will hurt when the market drops lower, but if you own most of the top bitcoins and altcoins then there is no need to worry too much, because once the market recovers the losses will likely recover. So the fact of recovery is guaranteed for Bitcoin because without an increase from Bitcoin there is no hope of a recovery at its previous price.

Doesn't matter if we hold top coins or not,yet we are always pertaining about USD value which we do sees most of the time or being mindful or watchful with it because whenever we do see some declined then we do really start up to worry.

As long you don't sell then you won't lose something that's why self control and emotion handling will really be that crucial because if you don't then you would really able to experience losses which is something that very common to happen due to bad acts.

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Quote from: mindrust on May 27, 2022, 10:22:18 AM

Are you mostly in alts? Because if you are, then your pain and suffering might have only begun. Bitcoin came back from every major crash happened before but alts don't share the same luck.

If the portfolio is filled with altcoins it will hurt when the market drops lower, but if you own most of the top bitcoins and altcoins then there is no need to worry too much, because once the market recovers the losses will likely recover. So the fact of recovery is guaranteed for Bitcoin because without an increase from Bitcoin there is no hope of a recovery at its previous price.

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Quote from: mindrust on May 27, 2022, 10:22:18 AM

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.

Are you mostly in alts? Because if you are, then your pain and suffering might have only begun. Bitcoin came back from every major crash happened before but alts don't share the same luck.

I believe that he is focusing most of his attention on alternative cryptocurrencies because his portfolio drop a lot. As you may already be aware, most of those alternative cryptocurrencies are having trouble regaining their previous prices, or doing so will take several years or even longer like ETH. Additionally, I won't say the current market situation as a bitcoin crash because it is not a crash; rather, BTC is in downtrend. This takes place every year without fail. You probably remember when Bitcoin reached $20,000; after a few months of that, it dropped quite a bit, but what happens after that? It created a new ATH.

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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.

Are you mostly in alts? Because if you are, then your pain and suffering might have only begun. Bitcoin came back from every major crash happened before but alts don't share the same luck. Look at Litecoin for example, almost 10 years ago ltc made an ATH at $50 and then went to $3. Now LTC is trading at $65-75. Yes it went to $400 but it don't look like it will go back there any time soon. LTC btw is one of the lucky coins out there. There are hundreds of others which just collapsed to zero and never revived again.

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Quote from: lixer on May 26, 2022, 09:23:26 AM

Quote from: m_nief on May 25, 2022, 10:31:46 AM

Your portfolio down until 70% better keep hold it and waiting time take recovery or make cut loss when your portfolio down under 40% or 30%. Still the same with you I got down portfolio and have been 1 years waiting when price going up, but my portfolio down under 40% and have take recovery last several months, but sadness not selling my altcoin until get down again and loss opportunity to get back my capital. I think not have to worried if you hold potential coin your portfolio will back to the top price, keep hope and don't forget pray every time get back your altcoin holding reach higher price.

Holding it will be a very hard thing when you are down that much but people need to learn this.

Selling it at a 50% loss is way much harder. Remember holders never lose something until he sells.

Quote from: lixer on May 26, 2022, 09:23:26 AM

I hope that people would learn how to hold, but if they are holding something like Luna then we shouldn't say that they should hold and it will recover, holding could be still done in that case but it will probably not recover. So, it is going to be something that would be difficult, both keep holding it but first you need to learn to pick something decent.

To learn how to hold need strong faith in the BTC. Having all the knowledge in the crypto world won't let you hold unless you have a strong belief in the BTC market.

Quote from: Cryptmuster on May 26, 2022, 06:03:19 AM

Many, just like in 2018, remain with their coins, there are those who were waiting for the alt season,

It looks like alt season won't come this semester, worst, this year.

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Quote from: m_nief on May 25, 2022, 10:31:46 AM

Your portfolio down until 70% better keep hold it and waiting time take recovery or make cut loss when your portfolio down under 40% or 30%. Still the same with you I got down portfolio and have been 1 years waiting when price going up, but my portfolio down under 40% and have take recovery last several months, but sadness not selling my altcoin until get down again and loss opportunity to get back my capital. I think not have to worried if you hold potential coin your portfolio will back to the top price, keep hope and don't forget pray every time get back your altcoin holding reach higher price.

Holding it will be a very hard thing when you are down that much but people need to learn this. I mean I am down 50% as well, and that is not a problem for me, well I am actually up and not down, but I am 50% down from my peak portfolio which is why I do not believe that this would be any difference to me.

I hope that people would learn how to hold, but if they are holding something like Luna then we shouldn't say that they should hold and it will recover, holding could be still done in that case but it will probably not recover. So, it is going to be something that would be difficult, both keep holding it but first you need to learn to pick something decent.

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Quote from: tbct_mt2 on May 21, 2022, 09:50:25 PM

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.

Quote

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/

You check the waves on the chart. think 4'rt is gonna be even higher

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Quote from: nur rochid on May 26, 2022, 02:24:21 AM

at the time of 2018 at least similar to current events, where bitcoin experienced a significant decline so that various fud news emerged, and made many people stressed because of it. but after that bitcoin can rise from adversity and make people believe in it again. Of course, from the previous lesson, we can take the lesson that the current situation is certainly easier to deal with than in the past, because now many people have been trained with better cryptocurrency knowledge.

Many, just like in 2018, remain with their coins, there are those who were waiting for the alt season, but did not wait, there are those who invest for the long term and are waiting for the price they need. I didn’t sell my bitcoins, I still have them, but I sold all my altcoins and now I’m waiting in stablecoins to see what happens next. I will wait until I see a clear market reversal, then I will buy. It is difficult to say whether it makes sense to sell to those who have not yet sold, the market has already fallen heavily, but I do not exclude its further fall.

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at the time of 2018 at least similar to current events, where bitcoin experienced a significant decline so that various fud news emerged, and made many people stressed because of it. but after that bitcoin can rise from adversity and make people believe in it again. Of course, from the previous lesson, we can take the lesson that the current situation is certainly easier to deal with than in the past, because now many people have been trained with better cryptocurrency knowledge.

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Quote from: BITCOIN4X on May 25, 2022, 01:20:03 PM

Quote from: sunsilk on May 25, 2022, 01:11:16 PM

It happened on 2018 when the market too low and dropped a lot which had made a lot of people too wary about the market condition by that time.

This time, it's the same and you're likely in the same shoe just like everybody else on that particular bear market. If you're holding bitcoin, you need to be patient and avoid unnecessary purchase with altcoins that do not have the potential because it will potentially add losses.

I think it's still safe to ask him to hold for the long term without selling anything if the OP only has bitcoin in his portfolio. But if he has a non-potential altcoin then I'm not sure if a long-term hold will bring it all back for him later. Obviously bitcoin has great potential to score new ATH in the future so the best advice for that is to hold it.

I can think that the OP's losses are cumulative from the altcoin and bitcoin because it looks like the OP would never have lost that much if he had only bought bitcoin on ATH last year. Nonetheless, I think hold is the best advice for him right now especially if the altcoin he owns have good potential to come back at the highest price.

We all do have the same opinion about bitcoin's future and it's possible that it will reach another ATH because that's what we've seen in the past. It won't be stopping to the last ATH that it did and it shall be greater than what it has reached.

And when it does, those who have prepared and held for a long time hoping for the comeback of bitcoin together with their holdings, they'll all be winners and so are we.

Just don't sell at losses and if you're too patient, you don't need to do anything but only hold.

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I don't know if it's the same or not, but we've fallen from high prices to low prices in 2018. It also makes a lot of people mentally ill. however, I also feel the same way. although the decline in the price of my assets from 2021 is tiered, however, if I count them, maybe my assets have decreased by more than 80%. however, it was a mistake I made when I still had a high asset value by the time bitcoin hit its ATH, but I assumed that there would be a better price. Well, but this is the risk of investing in crypto.

Kasabus

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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.

This is just the beginning, you will still experience more decline in your portfolio when the market turns more bearish so be ready for that. However, this is what all smart investors have been waiting to come, to take advantage of the current bear market and buy more bitcoin while they are not yet recovering. Otherwise, you will never enjoy the bear market and lose the chance to build your wealth in your portfolio. As no one knows how long this bear market will be, i think its best to just enjoy doing DCA until you ran out of your funds allocated for your investments.

Ale88

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Quote from: Argoo on May 25, 2022, 11:39:05 AM

Quote from: Ale88 on May 25, 2022, 11:03:59 AM

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.

How long have you been in the crypto game? This bear market until now it's not even that bad, years ago we had a way way worse bear market that laster years, if you can't handle it right now maybe it's better that you take a little time off the crypto for your health because things could get even worse.

Yes, it is quite possible that this is not the price bottom yet. There are forecasts that the cryptocurrency can also fall by about 40-50 percent even longer. There was already a similar drop in the first half of 2018. But then the bearish period lasted one and a half to two years. I don't think it will happen again. I think that in the autumn the cryptocurrency will gradually recover and will continue to grow. But summer will still be about the same. But in any case, it should be remembered that the cryptocurrency market develops cyclically and a big drop will be followed by a big rise.

Let's say that another 50% dump would mean BTC around $15k, and it also means going below the previous ATH, and that's something that, for the moment, never happened in bitcoin's short history. Personally I hope we won't go below $25k, otherwise even some big players would be in troubles.

BITCOIN4X

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Quote from: sunsilk on May 25, 2022, 01:11:16 PM

It happened on 2018 when the market too low and dropped a lot which had made a lot of people too wary about the market condition by that time.

This time, it's the same and you're likely in the same shoe just like everybody else on that particular bear market. If you're holding bitcoin, you need to be patient and avoid unnecessary purchase with altcoins that do not have the potential because it will potentially add losses.

I think it's still safe to ask him to hold for the long term without selling anything if the OP only has bitcoin in his portfolio. But if he has a non-potential altcoin then I'm not sure if a long-term hold will bring it all back for him later. Obviously bitcoin has great potential to score new ATH in the future so the best advice for that is to hold it.

I can think that the OP's losses are cumulative from the altcoin and bitcoin because it looks like the OP would never have lost that much if he had only bought bitcoin on ATH last year. Nonetheless, I think hold is the best advice for him right now especially if the altcoin he owns have good potential to come back at the highest price.

Piratte

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Quote from: EdenHazard on May 22, 2022, 05:46:43 PM

Quote from: amishmanish on May 22, 2022, 12:52:06 PM

I will suggest you one thing, keep hodling. The current fall is just as intermittent and such falls are bound to happen as any new tech establishes it self, there are times when the value baloon up exponentially before massive corrections. There is a phase of fast but temporary growth, a fall and then a slow but stable growth. There are many factors for current fall including but not limited to war and sanctions. Also current operational cots of bitcoin are very high, but believe me in years to come the transaction fees and operational cost will reduce and bitcoin will boom.

Yet if you have not a backup money for your daily spending then you might have to sell some.

In most cases ... when the portifolio goes down badly like -70% or so , people tend to losing control and keep putting the whole money in! Until you realized that you have lost your life saving as well in there , irony .
I'd say you might have to wait up to 3 years from now at max to see your investment get back up to where it's belong!

sad but true Undecided

2 years ago I lost 90% of my money. tnx covid and ethup

OgNasty

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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.

It is not uncommon for crypto assets to experience a 90% downturn. It's happened before and it will likely happen again. Just don't double down or do anything crazy like take loans to try and catch the bottom. It is quite possible this market too experiences a 90% drop, and if so there's still a long way down from 70%... Brace yourself if you're going to hold, but make sure you're committed. If you hold for a while only to sell the absolute bottom when it hits, you won't be doing yourself any favors. That's why they say to only invest what you can afford to lose, that way you'll ride out the bottom.

sunsilk

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It happened on 2018 when the market too low and dropped a lot which had made a lot of people too wary about the market condition by that time.

This time, it's the same and you're likely in the same shoe just like everybody else on that particular bear market. If you're holding bitcoin, you need to be patient and avoid unnecessary purchase with altcoins that do not have the potential because it will potentially add losses.

Argoo

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Quote from: Ale88 on May 25, 2022, 11:03:59 AM

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.

How long have you been in the crypto game? This bear market until now it's not even that bad, years ago we had a way way worse bear market that laster years, if you can't handle it right now maybe it's better that you take a little time off the crypto for your health because things could get even worse.

Yes, it is quite possible that this is not the price bottom yet. There are forecasts that the cryptocurrency can also fall by about 40-50 percent even longer. There was already a similar drop in the first half of 2018. But then the bearish period lasted one and a half to two years. I don't think it will happen again. I think that in the autumn the cryptocurrency will gradually recover and will continue to grow. But summer will still be about the same. But in any case, it should be remembered that the cryptocurrency market develops cyclically and a big drop will be followed by a big rise.

Ale88

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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.

How long have you been in the crypto game? This bear market until now it's not even that bad, years ago we had a way way worse bear market that laster years, if you can't handle it right now maybe it's better that you take a little time off the crypto for your health because things could get even worse.

m_nief

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Your portfolio down until 70% better keep hold it and waiting time take recovery or make cut loss when your portfolio down under 40% or 30%. Still the same with you I got down portfolio and have been 1 years waiting when price going up, but my portfolio down under 40% and have take recovery last several months, but sadness not selling my altcoin until get down again and loss opportunity to get back my capital. I think not have to worried if you hold potential coin your portfolio will back to the top price, keep hope and don't forget pray every time get back your altcoin holding reach higher price.

Sanitough

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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.

No one holds the future so you can't expect correct predictions but only speculations. However, if you trace back the history of the market movement, bears and bulls will always be the cycle, so there's always hope for the market to recover, as well as your portfolio. Just never attempt to sell your coins and stay hodling, otherwise you will be facing a huge loss. Forget about the current downtrend, what's more important is that you have taken advantage of the market by accumulating more bitcoin to fill in your portfolio.

ChiBitCTy

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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.

If your portfolio is down 70% then you aren’t properly invested. Hopefully your entire portfolio isn’t made up of only cryptocurrencies. A proper portfolio should be well diverse and the exact reasons are clear to see in the current environment where most everything is getting slaughtered but not in the same fashion. Own traditional investments, precious metals and other assets besides just cryptocurrency.

kryptqnick

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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.

Op, whether you should worry and what you should do next depends on what's in your portfolio. If these are high-cap popular cryptos, there's a chance they'll recover (especially if it's the top ones like Bitcoin or Ethereum). If they are no-name low-cap coins, there's a chance they'll go up again, but some never do. Overall, I wouldn't be too worried, it just seems that you haven't been around in 2017-2018 when so many of us went through this phase (or perhaps you witnessed it but didn't invest back then). But then it worked out for those who were patient enough to wait and those who invested in strong projects. Some coins didn't fully recover (like XRP), but it wasn't all bad, and some went way up (like BTC and ETH).

Newbie.

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Depends on what you wanted to achieve with this portfolio. If this is an ideological HOLD for your favorite coins, then nothing terrible happened, because they have not gone away, but if you wanted to earn money, then you should understand that the risks here are exactly the same as in all investment projects

wiss19

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Hey OP, your account was registered on 2017 and now you are asking if this have occurred before? But, yes this wasn't the first and this won't be the last. The past downtrends are more brutal than what we are seeing lately but we don't know if the downtrend that we are going to experience in the future is now going to be less critical or can be much worst than the previous one's but I can assure you that market can always recover and return to normal.

Just make sure that the coins that you have invested in are really good coins. For now maybe you need to leave your portfolio for a while. Just take a moment to relax. It's good for your mental health you know.

Bitcoin_Arena

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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.

This exactly why you are always told to not invest money you can not afford to lose. Once things go sideways, you are bound to get depressed, which is not good for your health.

One of my portfolios is down by around 50%, but I don't really care about it even if it goes to 99%. The goal is to hold for long term and never accept to sell off at a loss during a bear market. If the price goes up, well and good.

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.

Far worse trends than this have ever happened.

EdenHazard

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Quote from: amishmanish on May 22, 2022, 12:52:06 PM

I will suggest you one thing, keep hodling. The current fall is just as intermittent and such falls are bound to happen as any new tech establishes it self, there are times when the value baloon up exponentially before massive corrections. There is a phase of fast but temporary growth, a fall and then a slow but stable growth. There are many factors for current fall including but not limited to war and sanctions. Also current operational cots of bitcoin are very high, but believe me in years to come the transaction fees and operational cost will reduce and bitcoin will boom.

Yet if you have not a backup money for your daily spending then you might have to sell some.

In most cases ... when the portifolio goes down badly like -70% or so , people tend to losing control and keep putting the whole money in! Until you realized that you have lost your life saving as well in there , irony .
I'd say you might have to wait up to 3 years from now at max to see your investment get back up to where it's belong!

Issa56

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We all see that bitcoin is down, so all other altcoins are also down, which is normal, have witnessed this kind of dump so many times so I dont really panic that bitcoin is down and other altcoins are also down, I believe the only people that should panic are the newbies but as a professional you should have witnessed this multiple times so you shouldn't panic because we all know the market will bounce back, it might take time before it bounce back but it will definitely bounce back. So the best thing to do now as a trader is to Hold and if you are having extral money you won't be using for now, you can still bag more bitcoin and wait for the bull run. Actually nobody knows when the bull run will come but it will definitely come.

amishmanish

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I will suggest you one thing, keep hodling. The current fall is just as intermittent and such falls are bound to happen as any new tech establishes it self, there are times when the value baloon up exponentially before massive corrections. There is a phase of fast but temporary growth, a fall and then a slow but stable growth. There are many factors for current fall including but not limited to war and sanctions. Also current operational cots of bitcoin are very high, but believe me in years to come the transaction fees and operational cost will reduce and bitcoin will boom.

Nrcewker

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LuckyDiamond.io - FLAT 50% Deposit Bonus!

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.

Every asset’s price has the equal risk of going down, if it goes up for some period of time.
Same happen with Bitcoins also. It is very much normal.
All the hardcore Bitcoin investors are happy seeing this, as they are getting another chance to buy as much as Bitcoins as they want.
And I don’t get you OP regarding the “lunch” thing you mentioned. Does that mean you don’t have enough money to buy you a lunch?
Then I would really say you a fool, who don’t know how to manage his finances.
Invest what you can afford to lose and invest only when your necessity is complete.

At last I would say, don’t lose hope on Bitcoins, wait for some more time and enjoy the profit.

TribalBob

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I think yes you are too late to withdraw your assets if it reaches 70%, but I think this is a cycle of crypto itself, let's say you are saving for the long term, because the market will recover slowly if it is not always attacked by fud from hating countries bitcoin et al

pawanjain

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Nothing lasts forever

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.

You will never get to know how long this might last because nobody can accurately predict it. It's all just a speculation.
We have experienced even worse crashes than the current one and it was not very far from now.
Just after the ICO hype in 2017 we experienced a bearish trend in 2018 where bitcoin went down from around $19k to $3k.
That is almost 83% drop in price. So we are still at a better place and don't worry because things will get better sooner or later.

KaliLinux

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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 wouldn't worry much because the market has witnessed this before and as far as you have invested in good projects and not shitcoins, I believe you should be good even if it will take years. Just stop looking at your wallet every time so that you don't give yourself a heart attack.

Lucius

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Blackjack.fun-Free Raffle-Join&Win $50🎲

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.

You made a few mistakes when you invested in cryptocurrencies :

Never invest what you are not ready to lose, which means not gambling with money for lunch or food for your child.
First get well acquainted with what you are investing in, do not invest blindly because sooner or later you will fall into a hole from which you will find it difficult to get out.
Never buy during the bull market with the intention of a long-term investment, it is completely wrong and you could have learned it from history.

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.

No one can tell you how long this crypto winter will last, although many predict we haven't reached the bottom yet. If nothing else, we all know that in 2 years there will be a new halving - and so far it has proven to be a starting point for a bull run. The market will recover one day, the question is do you have the patience not to sell by then.

Mauser

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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.

Sorry to hear you are down so much. It's hard to give advise without knowing your exact position. What kind of coins are you holding? In general I would not sell coins if they are down so much. Only if the coin is a scam and will be worthless soon I would sell, otherwise I would hold it and sit out the dip. But since you are already suffering mental health issues you need to take a break from cryptos. I hope you only invested money you don't need at the moment. So my advise would be, forget about your crypto portfolio. Take a break for 6 months, stop checking prices and your portfolio values. Come back at the end of the year and reevaluate things.

Anonylz

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If your wallet is 100% btc I don't you should worry much even with -70% down because you already know the strength and performance of btc. However, is this portfolio is mostly alts, well there is a need to worry because most alts that were launched last year haven't experienced any bear market so it is very likely majority won't survive this bear market except for those who truly stand out.
You should probably get an offline if you don't already to support you through this hard times.

maydna

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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.

Almost all of us are experiencing this downturn because that's what's happening in the crypto market. Don't complain but be patient because this is only temporary, and the situation will definitely change and get better again. We have often experienced downtrends like now, and we continue to be patient while waiting. I hope you can be patient and wait too.

We will not know how long this can last but what is clear, a rising market will replace the market downturn, and at that time, we can get big profits again.

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.

Quote

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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Looking for gigs

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.

lalabotax

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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.

What coins are you holding? If you are holding top coins, no need to be worried so much, you can continue to keep them. Just wait for the next bullrun season, you can sell them at that time, probably in 2024-2025.

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.

Sure, we have experienced the same situation because it is almost the same as in 2018. After bullrun 2017, crypto market drops as well like we experienced this time, but it recovered in 2021, right? So, we shouldn't be worried since it is proven that after bearish should come the bullish season.

AmoreJaz

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Quote from: Rengga Jati on May 21, 2022, 04:05:51 PM

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.

As for what @bittraffic said that we guess you have been in the crypto world since July 2017, so actually you also should meet this kind of downtrend like this, much worse Grin

And this downtrend will still continue again and again until Bitcoin reaches its bottom in the bearish era.
We are here all experiencing this downtrend exactly and our portfolio is in the same drops.

In this situation, if we are holding Bitcoin, we can still hold them for the next bullish era and I believe that the price will exactly pump at the time.
But on the other hands, if they are altcoins moreover hype or new altcoins, well, I ma not sure that it will be back again or not. That is the fact, still not sure

Be patient, dude, only this that I can say

as a holder, you should prepare this up and down movement in the market. but when you are holding btc, the chance of getting back your profits is always around the corner. but if it is other alts, like let us say LUNA, then, that's a different scenario that you need tackle with. with btc, you can wait and hold. as it is only a matter of time before we see it rising again, just like in the previous years. but with other alts, you need to keep an eye with the team themselves, because their decision matters, whether they are getting out or not. if you will sell now, definitely youre at a loss. so why not wait, as you are already waiting anyway? this is not the end of crypto.

Rengga Jati

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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.

As for what @bittraffic said that we guess you have been in the crypto world since July 2017, so actually you also should meet this kind of downtrend like this, much worse Grin

And this downtrend will still continue again and again until Bitcoin reaches its bottom in the bearish era.
We are here all experiencing this downtrend exactly and our portfolio is in the same drops.

In this situation, if we are holding Bitcoin, we can still hold them for the next bullish era and I believe that the price will exactly pump at the time.
But on the other hands, if they are altcoins moreover hype or new altcoins, well, I ma not sure that it will be back again or not. That is the fact, still not sure

Be patient, dude, only this that I can say

coolcoinz

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If you're -70% right now it means you held some really shitty altcoins. All that Bitcoin did was close to -60% so you are complaining in the wrong section, OP. There's an altcoin section where you'll find people in a much worse situation, especially those who held Luna.

If you really held when you were -50%, there's no point in selling now at -70%. Were you even at profit because to be at -70 you'd have to buy at the peak of 2021? If what you're saying is true then you bought the top and then held all the way down, despite being at a 20, 30, 40% loss. That's really unfortunate, but If I were you I'd think about the probability of going down vs going up from here. We kept falling for the last 7 months, it can't go on forever.

TheNineClub

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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 cyclic movement of the market seems to be the norm at this point and the same rethoric was heard the last time (2018) when the marked went down. But will it recover as it did before (after a year or two) is anybodys guess as there are diferent factors at play such as world recession and what happened to Luna.

Fortify

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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.

There was similar downtrends when Bitcoin was worth much less, but that was a few years ago. Nobody can say if it's going to recover into the future, but the trend does not look very good right now and it seems to be staircasing downwards. It does seem like there is some correlation between Bitcoin and the wider economic situation right now, people seem to be cashing out of it as the markets are looking jittery with a recession on the horizon due to wild inflation. Unfortunately it is a tough lesson to learn, if you're down 70% then you really must have purchased near the peak, otherwise it doesn't make sense? Hopefully you can take it as a future lesson to diversify and not put all your money into a single asset class.

Charles-Tim

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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.

If you have altcoins in your portfolio, then not a surprise that your holdings worth has been decreased 70%. Better to hold bitcoin. This time is for the bears but the bull time will come but can still be long before it would come. The market can still be of the bears, many altcoins do not always reach all-time-high, avoid them and hold bitcoin.

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.

You can check 2018, it was full of bears. If 2016/2017 were bullish, also 2020/2021 were also bullish. But in 2018, bear market started and lasted for long, also 2022, bear market has started and may last long. I am waiting for 2024/2025 to be bullish again.

The Cryptovator

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We know all about if we can't hold then we can't make money from crypto. Cryptocurrency become most popular because of volatility, we can't exclude it from the crypto world. To be honest this is the time for accumulating and filling your bags right now. But sadly most of us already bought higher price and our pocket is empty now. But I don't think it's something to worry about your funds. No matter how many percents it has dumped. Just hold and wait for the recovery.

hyudien

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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.

DaveF

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BTC Price high 2017 $19000
BTC Price low 2018 $ $3500

So that was a much bigger BTC price pullback, at least as of now.
If you had other coins then I hate to say it but with a few exceptions then you were gambling anyway.
With everything else going on in the world at the moment and the spectacular implosion of Luna the current pullback is not that unexpected.

-Dave

bittraffic

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You have been in crypto in 2017 which means you are not new to this kind of pull back as it had happened before. The more worried an investor would be if he has invested altcoins because normally altcoins drop way more than 70%. Its not unusual any more for someone who had experienced the long bear market back in 2018. Those investors after 2018, learned their lesson to dump before the alt markets dive.

Yes it going to be depressing when you saw your money that was once more than 300K, now drop to less than $50K. Feel sorry for myself too when I don't have any idea if I'm going see it goes 300k again, its detrimental. But after 2021, I learned my lesson.

9thsky

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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.

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