Topic: WHEN WAS YOUR WORST MOMENT AND CHALLENGE WITH BITCOIN ? - page 4. (Read 1046 times)

This is a nice exercise however I think many members will say something similar to what I’ll say, in my case it was the crypto winter that began at the end of 2017.

At the time the sentiment was that bitcoin had finally reached its goal and worldwide adoption was just around the corner, but we know what happened, a very intense crash came and then years of almost no movement followed, and while I was still convinced in the technology enough to not sell my coins I’d be lying if I said those weren't difficult years.

When it comes to bitcoin. So so far I haven't had any disappointment or anything like that in bitcoin. but the first time I got to know bitcoin I didn't immediately choose bitcoin. because I am tempted or tempted by the quick profits of altcoins. when I was a beginner I experienced a lot of considerable losses. because I am following a new altcoin project. and it turned out to be a scam. from there I turned around and just chose bitcoin for investment. and from there I seriously learned about analysis in trading and investing. and as long as I invest in bitcoin I don't feel anything bad is happening. instead I continue to collect bitcoins gradually and continuously.
I am currently not thinking about the benefits of my investment in bitcoin. because it's more like savings to me.
I profit every day from my routine as a day trader. and every time there is more profit then I buy bitcoin. and so on.

i don't have much bitcoin for now but i have a target in this year or next year. I want to achieve have a lot of BTC. I don't think much about BTC price. that's the reason behind i don't panic when BTC correction. I'm even a little happy. because I can buy BTC for less than any profit I put aside from my daily trading.

so i invest in bitcoin and trade daily on altcoins.
My biggest challenge in bitcoin was when it went through a deeper correction. but I forgot to buy entry at that price point. and the purchase was not executed. from there I installed a lot of buying nets gradually at each bitcoin support point with the DCA Strategy.

I must say that this is a common mistake most of us make at the time. The period 17/18 must be said to be the most unfortunate period for everyone because they no longer had enough faith in bitcoin and the market at that time. At that time most of us lacked knowledge and patience, when we only rushed to profit from bitcoin, especially during the ICO boom. Many people made a lot of profit but then when bitcoin started going down people panicked and sold all their holdings because they all thought bitcoin was on the verge of collapse.

That was my early stage of join this forum and have some bitcoin but was panicked to sold it out due to market dip. You know as a beginner lack of mentoring and impatient makes me lost and sold my bitcoin at cheap rate then 2017/18 dip. First for new beginners should have patients and do more research about the worth of the assets they are acquiring.
Though right from then I have learnt to correct mistakes and learn to stick on holding.

If only at that time you want to really take advantage of the moment by exploring more about Bitcoin when the people closest to you talk about Bitcoin, then by now you have become a person who will not forget Bitcoin and will be familiar with all the conditions that occur in Bitcoin. And now it's also not too late to invest in Bitcoin if you have the will because Bitcoin is still on a good track as an investment option as well as a future asset choice.

There are other opportunities that you can still get from now on if you really like and believe in Bitcoin. Because right now you can also see and find out about how many people already know Bitcoin and then like it as the best asset they have ever known.

My worst movement was when my wallet hacked when I was new to bitcoin usage. I don't know what to do, the hack was on the blockchain wallet. It was my mistake to loss the recovery phrases. I'm not aware of those things and later requested help from support team and they clearly mentioned my mistake. I was helpless as I lost about 0.11BTC

My worst experience as long as I entered bitcoin was in 2019, I lost a lot of my money, because at that time I was in need of money for a very urgent need, I also had no other choice so I had to sell my bitcoin when the price low, after that incident now I have learned not to put all the money I have in bitcoin anymore, I set aside some of my money in other businesses.

I guess you did panicking buy, you may be influenced by the hype.  
But every mistake is a lesson in our life. You can do a better decision and do a proper way in the next year at least. I am sure you know that analysis and knowledge are two crucial factors in crypto trading or investment. Now, you won't experience the bad thing as in 2018 anymore. You did the right way by learning risk analysis. It minimizes the opportunity of a huge loss.

Looks not bad experience with bitcoin because try help your business by selling bitcoin as investment assets and use it for helping your business capital. I have bad experience with bitcoin because when got chance to take much profit keep holding and later when price drop sell it and get much loss, I think if I used your way by selling some bitcoin investment assets and use it for building business maybe I can earn two passive income right now, not only with profitable from bitcoin but also have chance taking profit with real business.

Become good experience later spent your assets in bitcoin and use it for building real business, not always bitcoin guarantee get much profit and have another business become back up passive income when get trouble with bitcoin price.

My first few months when I started Bitcoin. I was like refreshing Google and CMC back then when just a single red line in the chart makes me nervous a lot and I thought it is going to be all losses for me. Gotta admit that I was panic selling back then, but then I realized that Bitcoin is truly a long-term investment and not something that you would just hold out for in a day, in a month, in a half a year.

I would not call bearish market as something I would call it "worst moment and challenge" in Bitcoin since that was like an opportunity for me to buy even more coins.

Let me share the experience of my friend whom I brought onboard the system though it was a sad one and I don't wish anybody to have such experience. I actually felt bad too about the incidence. It was around December 2018 towards Christmas season when it happened. My friend was holding Bitcoin worth $10,000 and planning to use a little for the Christmas celebration only to wake up on the 23rd of December to discover that his wallet has been emptied. He couldn't hold himself as that was his only major backup that period as his other business wasn't in a good state. It was a very terrible experience for him as he couldn't believe such could happen to him. He has been a childhood friend and I had no option than supporting him. It touched me as well because I brought him onboard and we never had knowledge such would happen and that was a terrible experience for him though as he couldn't get his family all they required that Christmas season.

My getting late into bitcoin is one of my worst moment when I could have bought it at a low price, even the few coins I had in pre 2017 was sold off cheaply, I never believe Bitcoin price will rose to ATH in 2017 when it reached $19K+, I also missed another opportunity to buy low in the wake of Covid-19 pandemic when it's price dropped to $3755 unfortunately missed out thereafter it price hit another ATH of $64K, these are great missed opportunities and worst moment because I am sure a lot people became millionaires courtesy of early adoption of bitcoin especially during ATH period.

I didn't have any particularly bad experiences with Bitcoin. But the worst time was that long bear market of 2018-2020. I had a couple of big lows there. One is that I had what was around $1k in BTC at the end of 2017, but I didn't sell. Given how long the bear market lasted, I needed the money and had to sell at $10k, some at $8k. It wasn't panic selling, I just needed fiat for stuff, and I tried waiting it out as long as I could, but the market stayed low just way too long. And then I recall this moment when the price has been very low ($7k-$8k) for months, and then, when I thought it couldn't get lower than that, it went to around $3500. And it wasn't at such a low point for a brief period of time. In fact, the price remained below $4k for 4 months!
Overall, it took almost 3 years for the price to recover, so it was generally a bad period, but that time below $4k was particularly sad.

I think it's not necessarily a bad experience, maybe you sold your bitcoins for not as high as expected. In life sometimes unexpected things happen and luckily bitcoin is your savior, in that case, thanks to bitcoin you have saved your economy and not to mention you have extra business from the sale of bitcoins. This shows that bitcoin investment really works for you, so you should not regret your decision. If you still have faith in bitcoin then you can start over with bitcoin now its never too late to start over with bitcoin.

There has never been a time in bitcoin one should have a feeling or doubt it to be a scam, it has never and will never, however, investments are subjective to people, the way I may buy bitcoin may be different from the way others will, the time you buy it is also another factor.
Take a look at Coinfessions on Twitter and you will feel bad about how many people have lost money into crypto(Bitcoin and Alts) and they all have a common thing from their confessions and mistakes, they all FOMO, bought at the top in anticipation of making it big, they didn't just invest a little, they invested heavily and that is the euphoria of the market if you are bullish when others who bought during the bear market all sold. The rule is simple: buy low(bear market) and sell high(bull run).

Very sad though. It pains most when you are in need and have no option than selling your portfolio at a very poor rate and within just a snap you see the price plummetting. You will have this self regret to have hold a little bit longer but in the real sense what you did needed urgent attention which required you taking such decision. It hurts really bad.

When i had able to know this market 5-6 years ago which HYIPS and ponzi are really that on trend or common.I have learned up about crypto due into that particular situation on which i do really believe that i could

make myself rich in no time but i was wrong yet i have realized that these are just scams and there's no such thing about easy money and then later on i had discovered lots of things or ways for you to earn crypto

via those tasks online which could really give out the chance for you to be able to do so.Then i do touch up trading and find myself able to sustain after a couple of years which im grateful
that i have known this market.

When I paid my debts. Many people told me to not pay my debts and instead I should be using my money in order to just get bigger and bigger investments and even make more debt. I was offered an option of just living off credit card for a few months without ever spending money aside from the minimum I had to pay to my debt, and use that extra money to buy bitcoin as much as I can, and face the debt later on. Which I didn't listen and I paid my debts in full because that's what I liked to do.

If I listened to those people, I would have suffered a few months and in return would have owned a few bitcoins these days, and now I still have a lot of debt, and yet no bitcoins at all, so that was a bit of a problem for me.

My bad experience with Bitcoin, when it was in the middle of the year where I had to be sued to sell some of my bitcoin assets, in order to survive in the future, and even the price of bitcoin at that time really slumped, so I sold all my deposits, to keep it stable  my economy, but on the other hand I opened a business from the sale of my bitcoins, to keep my economy stable, maybe that was the worst thing that happened to me, and seeing the price of Bitcoin last year made me blame myself.

I, too, was greedy enough and did not dare to exchange bitcoins for fiat during its great growth. Since that time, I have lost a considerable amount, as there was a moment when I simply needed cash. This is a bad and unpleasant experience, but I will not deny that the period of growth was also beneficial to me. Therefore, we should always be aware of our limits when our greed leads us there and not be so sure of the future.