The pain of holding bitcoin in 2017.

drachman

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Quote from: darewaller on November 10, 2018, 08:55:42 AM

Quote from: drachman on November 07, 2018, 09:27:29 PM

Most people want to get the benefits of the market without any effort, so what you are proposing makes sense and it will help people to make more money in the market if they learned from their own mistakes but that is something that is not very common, people prefer to keep doing the same thing over and over again and see if they can get different results and as you may guess that doesn't happen.

All that is required is even patience, but of course, there is no way anyone can even have patience without realizing what they are investing in, the potentials or why they should be looking at the long term in the first place, and all these things will most definitely affect their judgment as well as the way they basically think.

Obviously, most people who are pained right now are those who joined FOMO and of course, that was because they never understood the market and they never took their time to, but while some have learned from their mistakes and trying to make some adjustments, some will be whining and feeling painful for no reason at all, as if that would help them in anyway.

While being patient is one of the most important characteristics an investor should have, been patient is not very easy when the market is crashing in such a way, so while I have no intention to sell my coins as most people have done already I understand why they are doing it, it is simply impossible for them to withstand the huge losses that they are incurring by holding their coins.

BoitCoinZen

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Quote from: nydiacaskey01 on November 15, 2018, 06:34:52 PM

Quote from: omonuyak on October 15, 2018, 02:30:13 AM

This year 2017 has not been favourable to those that buy bitcoin in 2017, ended and are still holding. Bitcoin is in a state that we have not expect as many investors and speculators were saying bitcoin will get to over $50,000 this year. We should still holding as selling below the amount we buy is selling out of pain and frustration.

If you bought Bitcoin last December 2017 and got caught with the drop of price, it's either you sell and buy other coins and sell again until you recover your losses. Seeing your investment slashed by more than half is really painful and you cant recover that losses if you just sit there and watch. You need to lay out a plan if you want to recover quickly. looks like the $50,000 by end of 2018 prediction is not going to happen.

To recover your loss through strong planning and strategizing your actions would help you to rebuild your financial structure. Keep your spirits high and learn from mistakes to achieve back.

Biscutard

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It is only painful because people thought bitcoin would rise above of what they have been expected but it turns out that it just stop at $20k then suddenly drop drastically during the first month of the year. And now people who still thinks that bitcoin would just going back again at least $15k are still holding but bitcoin didn't went that way.

carlisle1

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Quote from: omonuyak on October 15, 2018, 02:30:13 AM

This year 2017 has not been favourable to those that buy bitcoin in 2017, ended and are still holding. Bitcoin is in a state that we have not expect as many investors and speculators were saying bitcoin will get to over $50,000 this year. We should still holding as selling below the amount we buy is selling out of pain and frustration.

Only those greed and noob believe that bitcoin will reach $50,000

You are not contented with the almost 300% of profit from the last quarter 2017 instead you waited for that huge growth so the outcome you become a victim and being trapped when the market drops drastically

bitcoinisbest

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Quote from: boty on November 10, 2018, 09:23:34 AM

the pain that holds back bitcoin when the price of bitcoin in 2017 seems to be very depressed because the current price falls very sharply and it makes a lot of people lose and it is difficult to be able to raise prices again.

It is depressing when you consider of selling at 18k and now it has breached 6k as well on downside. But this is how crypto market works and everybody who think it is shortcut to make money would realize that it is equally risk as well like getting rewards in this market. But this should not make you stay away from the market infact lesser the price more you should be investing in it.

Gastotade

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Quote from: ninuplanste on November 16, 2018, 01:20:47 AM

Quote from: jemarie20 on November 13, 2018, 07:37:04 PM

Just wait the right time when the price of bitcoin will goes up, and take the opportunity that we can buy a lot of bitcoin in low price, so if we buy more now we can have a good investment for the near future.

We must target the market before bitcoin goes higher. Now a days, things are quite easy. Price ranges are quite low so just take the opportunity. Buy low and sell high, simply it will amaze you.

It's like what early investors of bitcoin did, they buy at low price without expecting whether it will rise again but see it did it in 2017 so chances still possible as crypto were not widely use yet.

fullhdpixel

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Quote from: eann014 on November 11, 2018, 04:32:42 AM

Quote from: St4yInTh3D4rk on November 10, 2018, 11:04:10 AM

I think people become familiar for the current market situation because the prices were at the current range for months now so the people who can't hold may already sold and it the who are ready to accept and face the whatever consequences are still holding the coin.No pain no gain so hold the coins if you want the huge benefits someday.

I agree, so it is up to us now if we still want to hold or to wait until bitcoin price will recover, or if it is still recovered someday then that is good for those who hold until now. Maybe we need a long patience right now with cryptocurrencies because as I saw, cryptocurrencies are struggling.

Yeah, the decision to make is always up to each and every one. For those who joined FOMO, no one forced them to do so, it was their decision and for those who are not seeing this as an opportunity now to be at least loading up the dips to at least break even quickly when the market switches back to an uptrend, which it definitely will no matter how long it takes, then it is still their decision as well, which I believe in coming months, years, or decades, a lot of people will be wishing they had been patient. It does not take much to be, it is all about just being smart in your approach to things, which is all.

ninuplanste

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Quote from: jemarie20 on November 13, 2018, 07:37:04 PM

Just wait the right time when the price of bitcoin will goes up, and take the opportunity that we can buy a lot of bitcoin in low price, so if we buy more now we can have a good investment for the near future.

We must target the market before bitcoin goes higher. Now a days, things are quite easy. Price ranges are quite low so just take the opportunity. Buy low and sell high, simply it will amaze you.

nydiacaskey01

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Quote from: omonuyak on October 15, 2018, 02:30:13 AM

This year 2017 has not been favourable to those that buy bitcoin in 2017, ended and are still holding. Bitcoin is in a state that we have not expect as many investors and speculators were saying bitcoin will get to over $50,000 this year. We should still holding as selling below the amount we buy is selling out of pain and frustration.

If you bought Bitcoin last December 2017 and got caught with the drop of price, it's either you sell and buy other coins and sell again until you recover your losses. Seeing your investment slashed by more than half is really painful and you cant recover that losses if you just sit there and watch. You need to lay out a plan if you want to recover quickly. looks like the $50,000 by end of 2018 prediction is not going to happen.

Yamifoud

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Quote from: sheenaedago on November 15, 2018, 05:21:04 PM

Quote from: WinslowIII on October 19, 2018, 10:59:22 AM

Advice to those who are underwater to buy Dash or Neo, or some new icos is just f'g stupid in my opinion. Most likely the entire market will bleed all next year, don't make a bad situation worse - chasing losses is the sign of a gambler not an investor. Trying to fix a mistake buying too high now is asking for trouble, all you can do is wait or dump for a loss if you get desperate. And try not to get suicidal over money, life is too short for that.

I think there is no wrong on being positive visioning in the current situation. As what we have experienced from the last year of holding bitcoin, but in the end we are bountifully receive the profits we wish for. So, it is not too late and do not change a positive perspection.

Even though we think that 2018 isn't the right time for crypto but we can't lost our hope and thinking on the positive. Many are losing their investment today due to unexpected fall of bitcoin and many are thinking of its end. It seems to be helpless if will go that way cause in only give discouragement to the others.

sheenaedago

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Quote from: WinslowIII on October 19, 2018, 10:59:22 AM

Advice to those who are underwater to buy Dash or Neo, or some new icos is just f'g stupid in my opinion. Most likely the entire market will bleed all next year, don't make a bad situation worse - chasing losses is the sign of a gambler not an investor. Trying to fix a mistake buying too high now is asking for trouble, all you can do is wait or dump for a loss if you get desperate. And try not to get suicidal over money, life is too short for that.

I think there is no wrong on being positive visioning in the current situation. As what we have experienced from the last year of holding bitcoin, but in the end we are bountifully receive the profits we wish for. So, it is not too late and do not change a positive perspection.

francedeni

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Quote from: jemarie20 on November 13, 2018, 07:37:04 PM

Just wait the right time when the price of bitcoin will goes up, and take the opportunity that we can buy a lot of bitcoin in low price, so if we buy more now we can have a good investment for the near future.

This is most difficult for those who had bought at high price get really panic. Panic in selling at low price which really resulted in losing profit. Yes by having patience and wait for the increase we can earn from btc.

minersday

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Quote from: yonjitsu on November 14, 2018, 04:52:48 PM

If you have decided to hold your bitcoin until 2017 has already ended then maybe you are holding it for a long term plan. There are times that you will just ignore no matter how high your crypto asset will be if you are keeping it for a long term plan.

The real question is, how many bitcoins are you holding at the moment?

You just sound like any other of those folks that are saying "yes, just hold bitcoin and you will be super rich" but in the truth, you do not even have 0.01.

Bitcoin is good, the price is not the only good thing of it.

yonjitsu

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If you have decided to hold your bitcoin until 2017 has already ended then maybe you are holding it for a long term plan. There are times that you will just ignore no matter how high your crypto asset will be if you are keeping it for a long term plan.

Kevin77

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Quote from: darewaller on November 10, 2018, 08:55:42 AM

All that is required is even patience, but of course, there is no way anyone can even have patience without realizing what they are investing in, the potentials or why they should be looking at the long term in the first place, and all these things will most definitely affect their judgment as well as the way they basically think.

Well, that is usually the problem for most people. They tend to concentrate so much on the pains they are feeling because of some occurrence that is not even meant to be painful and just for the short term, that they always end up missing the opportunities that is available.

I know it is hard for a lot of people who came into this space in the late part of 2017 and now are really regretting they did, but that is the thing, simply because they did not realize their mistakes and they still have not realized their mistakes which balls down simply to at least trying as much as possible to understand the space and know what is possibly available in the future, they just end up getting pained for nothing.

BitcoinPanther

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Quote from: omonuyak on October 15, 2018, 02:30:13 AM

This year 2017 has not been favourable to those that buy bitcoin in 2017, ended and are still holding. Bitcoin is in a state that we have not expect as many investors and speculators were saying bitcoin will get to over $50,000 this year. We should still holding as selling below the amount we buy is selling out of pain and frustration.

Most financial adviser say to only invest what we can afford to lose.

It is not wise to invest the money that we use in our budget. Since when we say investment it means we have to wait for some time and it always have risk of devaluation worst being gone. I agree those who bought for bitcoin must wait for profit to sell else it would really be a pain since selling it right now means that the investment is at a lost. Another thing is that do not buy the rumor, instead sell it and buy when everything is in a state of panic. I guess those who bought bitcoin last year had learned their lesson in a painful way. But, as long as investor did not sell his holding yet, he is still got a chance of profit when Bitcoin recovers and break it ATH.

STT

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Quote from: perfect999 on November 13, 2018, 12:59:19 AM

Hahahaha! You would not blame them and I believe some of them who end up accepting their fate and HODL anyway, even though if it feels painful for them now after being a part of FOMO because they were dumb enough not to understand how market is, will eventually get to find it interesting and be happy they held eventually.

Nobody is dumb in this market especially as its such an unknown and new type sector type then it cannot be certain what exactly is the correct procedure. The only thing I can recommend is for people to stablise their entry and exits from positions, never buy all at once and hold or sell in an instant switch from crypto to fiat and expect to have perfect luck in timing.

Its better to buy a few times over time, preferably over a year. Part of the reason the market was so uneven is people jumping on the bandwagon all at once. Now we have sideways price action some equate it to weakness but thats only the case for speculators and traders who want to profit near term. Overall its far easier to deal with BTC now then it was this time last year when so uneven. There is speculation, so long as underlying development and requirement for BTC exists then the market is prospect should be reasonable to take part in

jemarie20

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Just wait the right time when the price of bitcoin will goes up, and take the opportunity that we can buy a lot of bitcoin in low price, so if we buy more now we can have a good investment for the near future.

perfect999

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Quote from: Siren on November 07, 2018, 10:08:37 PM

Quote from: omonuyak on October 15, 2018, 02:30:13 AM

This year 2017 has not been favourable to those that buy bitcoin in 2017, ended and are still holding. Bitcoin is in a state that we have not expect as many investors and speculators were saying bitcoin will get to over $50,000 this year. We should still holding as selling below the amount we buy is selling out of pain and frustration.

Those People as stupid loke you are the holders that has pain in ass because you are all greed and investing only just to gain money,and the saddest part is you are all being fooled by this manipulators that spreads misleading speculations lol
The true essence of holding is to trust bitcoin and believe the technology behind this.thats how the cryptocurrencies must be treated and not just a profiteering

Hahahaha! You would not blame them and I believe some of them who end up accepting their fate and HODL anyway, even though if it feels painful for them now after being a part of FOMO because they were dumb enough not to understand how market is, will eventually get to find it interesting and be happy they held eventually.

Those who I basically feel pity and at the same time feel no pity for are those who sell as a result of panic, instead of realizing their mistakes, were busy blaming the market and everyone for everything, let's see how that will work out for them in the future.

eann014

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Quote from: St4yInTh3D4rk on November 10, 2018, 11:04:10 AM

I think people become familiar for the current market situation because the prices were at the current range for months now so the people who can't hold may already sold and it the who are ready to accept and face the whatever consequences are still holding the coin.No pain no gain so hold the coins if you want the huge benefits someday.

I agree, so it is up to us now if we still want to hold or to wait until bitcoin price will recover, or if it is still recovered someday then that is good for those who hold until now. Maybe we need a long patience right now with cryptocurrencies because as I saw, cryptocurrencies are struggling.

Topic: The pain of holding bitcoin in 2017. (Read 1279 times)