What is the best advice for Bitcoin ATH investors ?? - page 5.

vycl87

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Quote from: DDante on May 20, 2020, 02:26:19 AM

What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

I think your friend has 2 options.

1) Will wait for Bitcoin to reach new ATH
2) Increasing the number of BTC owned by Altcoin trade.

These 2 options are the only partner, that is, your friend should not return to cash right now.

chaser15

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Quote from: DDante on May 20, 2020, 02:26:19 AM

What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

They are holding it for years now so why give up. Continue to hold.

Hold it more for long or basically after the crash, they should already considered those as loss so that when the time comes that Bitcoin reached again the $19,000 they will bring up back to excitement.

What have they done after the ATH? Did they buy to acquired more bitcoins at any price level, or they didn't do anything until now and just waiting for the rocket?

AakZaki

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HODL can be an option and pray that Bitcoin can reach ATH $ 20k in 2020 or 2021.
It takes extra patience and mentality to hold Bitcoin purchased at $ 19k in 2018. If you still have more funds, you can buy twice the initial capital. it will cover losses and make a profit when the price of bitcoin returns to $ 20k.

Don't cutloss if you don't have another strategy. Cutloss is done if you want to trade scalping to recover losses quickly.

Piston

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The price of bitcoin is prone to a massive drop from time to time. Bitcoin have witnessed more than 60% drop in their value on the market. This has happened to bitcoin about that times. Bitcoin price crashed down into the $4,000 because of the highly leveraged nature of the cryptocurrency market.

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Quote from: gentlemand on May 20, 2020, 04:50:54 AM

The fact that they're still here and haven't sold with a loss shows they have some potential. Most people would be long gone with a loss of 75% or more.

On top of that is the sign of the market that it is getting good after the halving phase, anyways he did not sold it yet right? So what he needs to do ( if he is not really in a hurry or need the money so bad) monitor the market at least once in a while, have an application that notifies the price of bitcoin. But to be honest, bitcoin to reach its ATH is quite difficult these days. Hopes up!

Quote from: gentlemand on May 20, 2020, 04:50:54 AM

I would simply stay put and wait as long as I didn't need the money. It took me three years to get back in the black after 2013 and once it did it all seemed like a bad memory as it left it firmly behind.

We all had a bad experience in the market, it will be a lesson for good.

Quote from: gentlemand on May 20, 2020, 04:50:54 AM

No one has any idea of if or when it'll return to that level but as long as it remains above ground there's a chance of it happening. Selling when interest is low doesn't really make sense and things are still quiet.

As I said, reaching its ATH is quite difficult, If I were him I'll just target the lowest possible loss like selling in the mid $15K to $17K ( if it happens)

slackovic

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Quote from: 20kevin20 on May 20, 2020, 04:06:15 AM

A smart move would've been to lower down their average purchase price. If they bought $2k worth of BTC when it hit $19k and bought $2k more when it hit the low $3k, today they'd own approximately 0.8 BTC so about $7.8k. That's a profit of $3.8k overall.

This "I'm waiting for it to get back to $20k" I believe has a much lower chance to turn into reality than the strategy above. If you lower down your average purchase price, you may enter profit without even knowing it.

Even if you bought $2k worth of BTC at $19k and only a quarter more (so $500) at $3k, you'd be today on approximately $0 loss as you'd own exactly around $2.5k worth of BTC. Still much better than a $1k loss.

The biggest problem with this is to decide when to buy more. It's easy now to say that he should have bought more BTC when the price was $3k, but how could anyone have known that it is the bottom? The price could have easily drop a little more. Today we all know it didn't, but who knew back then? No one. That's the biggest problem.

Slow death

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Quote from: DDante on May 20, 2020, 02:26:19 AM

What advice can you give those who buy Bitcoin at 19k in 2018?

this a psychological game. Okay, people bought it in 2018 when the price was $ 19000 and they are at a loss, right? and these people should ask themselves the following question:

- These people who bought in 2018 for the price of $19000 are in urgent need of money?

- When will these people need money?

after answering that question and if the answer is that they don’t need money then what they should do is the following:

Wait when the bitcoin price drops a lot (if it drops a lot) and buy when the price drops a lot, then wait for the price to go up a lot and sell and repeat the same process of buying low and selling high

f they do that they will make a profit and if one day they sell the bitcoins they bought in 2018 they will not have losses because they already have big profits with the trade they made. this I call Plan B

Quote from: DDante on May 20, 2020, 02:26:19 AM

what is the best advice to pass unto someone in this situation??

I will summarize what I wrote above:

you bought us $19,000 in 2018 and the price dropped to $10,000 then holding.

The price then drops to $ 8000 then you take your money out of your pocket and buy for the price of $8000 and sell when the price is $10,000 and wait again for the price to fall, in a nutshell: buy low and sell high up you have a lot of profit to cover your loss of $9000

FAHRKERIM

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I'd rather forget about that money altogether until good times come. Nobody believed it could go to $20,000, well, they were wrong. Hope is a bitch, but I'd still stick to hodling

Cnut237

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First advice is don't dwell on the past. He could have sold during the long price drop and then bought back at a lower price - but that is all in the past now, I have made similar mistakes myself, all that we can do is learn from them.

Bitcoin remains volatile. There will be plenty of upswings and downswings in future. Your friend can still sell high and buy low, and either recoup some money or else increase his holdings. There is of course a risk attached, but the biggest mistake in trading is to end the trade too quickly. You could sell BTC now at $9.7k, then the price rises to $10k and you panic-buy back and lose some coins... or you could instead assess whether bitcoin might return to say $9.5k at some point in the future, even months or years down the line, and hold until that point and make a profit.

If he doesn't want to trade, the other option is dollar cost averaging. Buy more at a lower price to reduce your average entry price.
Say you bought 1 BTC at $20k, now buy another 1 BTC at $10k... your BTC now cost you on average $15k each. Appreciate this is an extreme example, and he may not want to throw so much more money in, but it's a valid option for someone who believes the price will increase from its current level.

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Quote from: DDante on May 20, 2020, 02:26:19 AM

What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

He's just doing what I will probably do if I'm one of them. The advice that I'd tell is if he still believes in bitcoin, let those bitcoins that he bought at ATH at the side.

And while he's waiting for the right time to get back his capital gains then, he should start making up another batch for buying while the price isn't yet peaking. In that case, he's going to have profit from the new set that he bought while waiting for the ATH to come.

Darker45

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Tell your friend to hang on! Hang in there, mate!

1. If your friend does not need to sell it, he should just HODL it. Sooner or later we'll get back to that price and even beyond. All we need is just a little patience, says Guys N' Roses.

2. If your friend is already bored HODLing while waiting for that $19k to come back, interested to play with the price a bit, and willing enough to face some risks, he could do some trading, sell high and buy back low. For the next week or two, we could probably see Bitcoin hitting $10k and $9k a few times. There's money in there. Of course, it is easier said than done.

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Quote from: DDante on May 20, 2020, 02:26:19 AM

What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

Firt of all does your friend accept a recommendation that be needed again another funds to leverage his loss or he just want a suggestion to cope up with to divert his loss?

Suggestions

The first thing is hold wait and relax until it goes back to 19k
Used his bought BTC on platform that has staking rewards/lendingor any sort of payment plan that has interest.
Trade and ride the TA and FA until you got your capital back

_{These are my suggestions without adding any funds. But the first one is the best idea especially for beginners. I presume that your friend just drag down to invest due to fomo.}

gentlemand

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The fact that they're still here and haven't sold with a loss shows they have some potential. Most people would be long gone with a loss of 75% or more.

I would simply stay put and wait as long as I didn't need the money. It took me three years to get back in the black after 2013 and once it did it all seemed like a bad memory as it left it firmly behind.

No one has any idea of if or when it'll return to that level but as long as it remains above ground there's a chance of it happening. Selling when interest is low doesn't really make sense and things are still quiet.

20kevin20

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A smart move would've been to lower down their average purchase price. If they bought $2k worth of BTC when it hit $19k and bought $2k more when it hit the low $3k, today they'd own approximately 0.8 BTC so about $7.8k. That's a profit of $3.8k overall.

This "I'm waiting for it to get back to $20k" I believe has a much lower chance to turn into reality than the strategy above. If you lower down your average purchase price, you may enter profit without even knowing it.

Even if you bought $2k worth of BTC at $19k and only a quarter more (so $500) at $3k, you'd be today on approximately $0 loss as you'd own exactly around $2.5k worth of BTC. Still much better than a $1k loss.

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Quote from: DDante on May 20, 2020, 02:26:19 AM

What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

Just hold your ground or accumulate more Bitcoin along the way.

The journey of Bitcoin to reach its new ATH is bumpy. Many ups and downs will happen but in the end, many are expecting that the price of Bitcoin will be higher than its previous ATH in 1-2 years (based on the past halvings too). If you know how to trade though then it would be better but overall, accumulating more Bitcoin is the best thing to do when you bought it at its peak. Just hold and don't let your emotions eat you. Just tell your friend to hold it for a long time and buy more.

mu_enrico

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So your friend already bought BTC at ATH... It would be an unrealized loss if he didn't sell it yet.

Here's what he can do to minimize the realized loss:
(1) Do Nothing
* Pray so BTC price will be higher than 19K.

(2) Trade
*Sell at high, maybe 10K (realized 9K loss);
*Buy at low, maybe 8K, so he has 1.25 BTC;
*Sell at high, maybe 12K (gain 5K profit).
*His loss would be only 4K.

(3) Buy More
*Buy more at 9K;
*When the price is 12K, his loss (-9K) would be offset by 3K gain.
*If he buys 3x at 9K, he will win his money back at 12K.

The strategy (2) and especially (3) involve risk so that he may lose more than 9K.
*not financial advice, DYOR & DWYOR

Byakuga

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It might take a long time for Bitcoin to grow that higher again, my advice is to keep holding, nothing is impossible I'm crypto space, your friend is not at loss until he decide to sell his Bitcoin, if I were him I will hold on

Jawhead999

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Well, I believe your friend decide to buy bitcoin after he see bitcoin in major pump in 2018. IMO, buy bitcoin because of FOMO is not good, especially buy bitcoin near halving. It's why he should know, just invest only what you can afford to lose.

It's hard to give advice for this case, especially if your friend is not a small investor... he will got much loss. We can't know in the future, how much bitcoin will be worth next. Does it will reach new ATH for $100.000 or it will crash bellow $1.000 ?

But it's really depend from your friend, I believe he will not sell it even Bitcoin in the worst situation because he's really afraid of losing money.

Why this thread in Altcoin discussion? Move to Bitcoin Discussion

DDante

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What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

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