Newbie often fantasize about buying Bitcoin in 2010 and being a Bitcoin billionaire now, but realistically, you would have this exact feeling of "Bitcoin going to zero" dozens of time, and would have likely sold your coins and took some relatively modest profits, instead of millions or billions.
It's pretty similar now - there's no reasons to think that Bitcoin is going to zero. Nothing has happened to justify that, it's just another speculative crash, Bitcoin will eventually recover. Maybe in a week, maybe in a year or two, but a new bull market will come.
Topic: What exactly do we call this feeling of ‘to hold to zero’ or ‘sell at loss’? (Read 98 times)
June 13, 2022, 05:56:25 PM
June 13, 2022, 05:15:24 PM
Look at it like this OP.
You bought Bitcoin. It doesn't matter what you paid for it, it could've been 30k or 60k, but you wanted it and you got it. It's yours and it still has the same utility that it had back then. You felt fine because other people were also buying at that price so you felt a part of the crowd, like if they're doing it everything must be OK. Then some of them started selling at a loss, but you didn't and now you feel like you're doing something wrong because more people are selling than buying. Think about it for a while, you don't have to follow other people all the time, you have your own brain.
I held Bitcoin when it was worth $500 and $5k and then $20k and then $10k and back to $3k, back to $10k and to $3k again... It's still the same bitcoin and it's not going away.
You bought Bitcoin. It doesn't matter what you paid for it, it could've been 30k or 60k, but you wanted it and you got it. It's yours and it still has the same utility that it had back then. You felt fine because other people were also buying at that price so you felt a part of the crowd, like if they're doing it everything must be OK. Then some of them started selling at a loss, but you didn't and now you feel like you're doing something wrong because more people are selling than buying. Think about it for a while, you don't have to follow other people all the time, you have your own brain.
I held Bitcoin when it was worth $500 and $5k and then $20k and then $10k and back to $3k, back to $10k and to $3k again... It's still the same bitcoin and it's not going away.
June 13, 2022, 04:25:33 PM
i call it DISCOUNT
great time to buy more
Discount indeed but majority of people do see the other way around on where they do instead panic loss rather than on buying and whenever bitcoin reach some new ATH you could normally hear off those great time to buy more
words of regret that they should have bought on 23k price or lower.The lowest or bottom price isnt determined yet and we do continue on going down.
Im waiting for some right time to get in but honestly getting in with these prices are cheap already and not something a very bad idea to make.
im not putting all my fiat into bitcoin. but a nice chunk i wont miss anytime soon.
im not suggest throw life savings at it. as you might need that savings in the short term..
but if you are thinking of wasting $30 tonight on a pizza or wasting $500 for a weekend vacation you dont actually need. (money that will be gone and never seen again next week anyway) could be worth it for a punt, to invest that, after all its not going to be in your bank account next week anyway.
..
dont think about throwing large life changing amounts in on a guess or whim.
for now. just think about how much money you dont mind investing because alternatively it will just be a few toilet flushes after a a evening meal or a few photos of a vacation you cant get back
and just use that "disposable income" you wont regret being without for a few months.
.
next week if the price goes lower. think about ONLY that next weeks "disposable income". and add more coins even cheaper.. "averaging down" your overall hoard if you already had coins at higher prices from a few months/couple years ago.
if the price goes up this week.. alteast you got something out of it and didnt miss the chance
June 13, 2022, 04:20:07 PM
i call it DISCOUNT
great time to buy more
Discount indeed but majority of people do see the other way around on where they do instead panic loss rather than on buying and whenever bitcoin reach some new ATH you could normally hear off those great time to buy more
words of regret that they should have bought on 23k price or lower.The lowest or bottom price isnt determined yet and we do continue on going down.
Im waiting for some right time to get in but honestly getting in with these prices are cheap already and not something a very bad idea to make.
June 13, 2022, 04:15:14 PM
I am a new investor and it has not been easy watching my hard earned money depreciate. Its heartbreaking because I never though this could happen based on the recent stability of Bitcoin. But I am willing to take the risk. I am not selling and I would buy more. I just have this conviction that Bitcoin will bounds back. The world economy is going through a lot and almost every form of investment is affected. But I have also made up my mind that if Bitcoin doesn't bounds back, which is very unlikely, no problem at-least I invested in something I have always cherished.
June 13, 2022, 04:05:56 PM
i call it DISCOUNT
great time to buy more
(disclaimer: my old btc hoard is many years old so im still in profit of hoard. im personally not at loss)
i personally bought more last month and buying more this month. might aswell top-up more coins for the short term discount of the current era of 2020+ valuation.
ignoring my hoard from pre 2020 era. looking at the values of post 2020 era this is a great time to buy when prices are low again.
..
if other long term holders from years back having coins acquired for under lets say $20k and deciding to sell while still at profit at over $22k.. ok let them go. take your profits and go
those acquiring them today having a over $22k will re-inforce the support where less people still have coins acquired below $22k and more people with coins acquired above $22k
great time to buy more
(disclaimer: my old btc hoard is many years old so im still in profit of hoard. im personally not at loss)
i personally bought more last month and buying more this month. might aswell top-up more coins for the short term discount of the current era of 2020+ valuation.
ignoring my hoard from pre 2020 era. looking at the values of post 2020 era this is a great time to buy when prices are low again.
..
if other long term holders from years back having coins acquired for under lets say $20k and deciding to sell while still at profit at over $22k.. ok let them go. take your profits and go
those acquiring them today having a over $22k will re-inforce the support where less people still have coins acquired below $22k and more people with coins acquired above $22k
June 13, 2022, 03:56:14 PM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
Common scenario that do happen with these kind of declines or crashes.1. Panic sell
2. Hodl
3. DCA
4. Sitting still/Doing nothing
Its up to someone on how they would really be treating up these kind of scenario
and since its your money or investment then its your decision whether you do panic sell or hold
but talking or speaking with common sense then its not really sensible to panic sell.
June 13, 2022, 11:37:03 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
I think, HODL of course, because it's not the first time all crypto market is dumping like this...
Breaking the zones we did yesterday felt a lot like the (start of the) drop from 6k to 2.9k we did back in 2018 - this is probably a reflection in the strength of crypto but is still likely disappointing for new investors.
If you're going to get obsessed with the prices of things, you're definitely better off holding.
If you've got an extremely strong level of self control and a good amount of confidence in crypto only then would I consider selling and moving funds out for a short time (perhaps into a diversified equity fund).
Let this be a lesson to all that claim btc is a store of value.
Store of Value don't fall off a cliff like btc.
Store of Value don't fall off a cliff like btc.
By this logic nothing is a store of value (gold fell off a cliff around the same time, oil did similar at the start of the pandemic and might still be doing in some cases).
It is understandable that some people particularly newcomers or new investors in this market are maybe in agitated mode.
We can't blame them because it has been like we saw this $20k+ level of btc last Dec 2020. We already surpassed the hard days of pandemic period.
And yet, why are we going down to 20k range again? And so most of us thought, btc won't go down to this level again.
But if you have been in this market long enough, you will think that it is only a matter of time before it will start going up.
So better hold off because btc's lifespan is not yet over. Just another hurdle to overcome.
Gold has lost only ~$44 right now and is already heading back up.
BTC lost ~$38000, in ~1 year and still heading down.
Little Suzie's college fund is still there if it were stored in gold,
Little Suzie's college fund is hurting if it were in btc.
This is why this market is for people who are not afraid to take high risk because of this volatility factor.
Once you got in, you should know you are susceptible to uncertainty of this market.
But I bet, if someone bought btc to hold, for sure, he is hoping that one day, he will get his rewards.
June 13, 2022, 11:28:10 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
I think, HODL of course, because it's not the first time all crypto market is dumping like this...
Breaking the zones we did yesterday felt a lot like the (start of the) drop from 6k to 2.9k we did back in 2018 - this is probably a reflection in the strength of crypto but is still likely disappointing for new investors.
If you're going to get obsessed with the prices of things, you're definitely better off holding.
If you've got an extremely strong level of self control and a good amount of confidence in crypto only then would I consider selling and moving funds out for a short time (perhaps into a diversified equity fund).
Let this be a lesson to all that claim btc is a store of value.
Store of Value don't fall off a cliff like btc.
Store of Value don't fall off a cliff like btc.
By this logic nothing is a store of value (gold fell off a cliff around the same time, oil did similar at the start of the pandemic and might still be doing in some cases).
Gold has lost only ~$44 right now and is already heading back up.
BTC lost ~$38000, in ~1 year and still heading down.
Little Suzie's college fund is still there if it were stored in gold,
Little Suzie's college fund is hurting if it were in btc.
June 13, 2022, 11:24:54 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss?
Don't worry. This isn't the first time that I've seen someone thinking about this question and putting it up for bitcoin's price going to zero. If you're in doubt now, you better sell/cut at losses. Mental health is much more important than the portfolio that you've got.
If it's going to give you a relief to sell/cut at losses, you think of it before you do because you can go back to the market anytime. But if you can endure looking at the market then you need to be patient and just look at the whole market from years ago up to now.
Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
It's not the end. Bitcoin is here to stay.The same thought was seen on 2018 and even before that, you can picture out what the people were thinking when bitcoin has crashed and was not yet on mainstream and it's not yet massively adopted.
June 13, 2022, 11:20:31 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
I think, HODL of course, because it's not the first time all crypto market is dumping like this...
Breaking the zones we did yesterday felt a lot like the (start of the) drop from 6k to 2.9k we did back in 2018 - this is probably a reflection in the strength of crypto but is still likely disappointing for new investors.
If you're going to get obsessed with the prices of things, you're definitely better off holding.
If you've got an extremely strong level of self control and a good amount of confidence in crypto only then would I consider selling and moving funds out for a short time (perhaps into a diversified equity fund).
Let this be a lesson to all that claim btc is a store of value.
Store of Value don't fall off a cliff like btc.
Store of Value don't fall off a cliff like btc.
By this logic nothing is a store of value (gold fell off a cliff around the same time, oil did similar at the start of the pandemic and might still be doing in some cases).
June 13, 2022, 11:12:19 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
I think, HODL of course, because it's not the first time all crypto market is dumping like this...
June 13, 2022, 11:09:24 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
There will be no ATH for the next few years. IMO
Should you hold to zero, only if you never needed that money.
(Odds are the network will crash long before the price drops to zero.)
If that money is needed anytime in a few years, well better get it while you can.
Especially considering exchanges are locking up and stopping withdrawals as we speak.
Let this be a lesson to all that claim btc is a store of value.
Store of Value don't fall off a cliff like btc.
June 13, 2022, 11:03:37 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
The feeling is called - panic! I am not an investment advisor but I am also seeing red since yesterday. Today the entire day I am only seeing a great slide from 28k to 23k.
Am I worried - Yes I am!
Am I panicking - nope!
Am I buying - certainly!
It's a great opportunity period. Take it or leave it!
June 13, 2022, 10:54:34 AM
I’ve been staring at my portfolio since morning, going through my head is to hold to zero or sell at loss? Do you think this is the end for Bitcoin or we’ll reach a new ATH after this downsize?
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