Next stop? The $8,000 area. Don't listen to the news, just watch the charts, wait and see. Having balls and having brains are two separate things. You can stare at the charts all day long praying for the price to go up but markets simply do not work that way.
Sounds like that fleecing you took on your longs is still weighing on you. We are still in a downtrend and $8K is possible, but if bear momentum weakens and we don't get there, hopefully you'll be able to recognize it. Bias is a dangerous thing indeed!
The ones who bought in 2013 should have taken them out of cold storage, cashed out at the top of the parabolics, and waited for new lows to buy again on the way up.
It all depends on what time frame they are investing on. If you held through the whole 2018 bear market, this little 35% correction is nothing. There's no reason to sell yet on the monthly chart.
It's also pretty hard to "cash out at the top." Due to market psychology, most people are more likely to
buy the top.
Or wait with the hope it climbs higher... It remembers me back in Dec 2017, a friend who doesn't know any shit about BTC told me "bro, you should sell now, you're crazy" I told him I'm waiting some days or weeks more because the price will be higher. At this time I was truly believing the price could hit ~$22,000 and I had an initial plan to invest in something else.
When the price started to crash a few days later, I was still watching the market. It was too late to cash out some bitcoins, and the plan I had wasn't anymore possible due to this.
I've a plan where I would like to switch from cryptos to real estate. Nothing big, I would like to start buying a small apartment and rent it to someone. After 10-12 years I will hit 100% ROI, It could finance a second apartment. After 20-25 years, I'll be fine with 2 apartments for rent, I will probably be retired too. Not rich for sure, but not poor
As for someone mentioning $8,000 I would say more the days pass less the chance to see it is possible
