Wrong Moves With Your Bitcoin - page 2.

DapanasFruit

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Quote from: Vaculin on February 14, 2024, 05:39:20 PM

I feel like being robbed by the market after missing the chance to sell my Bitcoin during ATH. I couldn't still forget about that but yes, we have to move on and make this experience to become better, and need to trust our investment.

Wow, I can relate to this kind of feeling and lately it happened to me twice. I became sad and sometimes I do blame myself for not acting fast to take advantage of the market. I am just a poor guy and right now I need some more money to fulfill some obligations even sacrificing my crypto holdings yet when I am to sell the price could come down dramatically and I would have no choice but to let go. People do experience the same thing based on what I learned from my online friends also involved with crypto. Such is just one of the many things that actually makes the crypto market looks like a friend and an enemy to me - on a personal basis.

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Quote from: Yatsan on February 16, 2024, 03:24:27 AM

Quote from: radjie on February 16, 2024, 03:09:44 AM

Quote from: DapanasFruit on January 28, 2024, 01:57:27 AM

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days?

Selling Bitcoin for urgent needs in the past, I think was the right decision if it was used for something useful. although in the end there was regret when he saw the price of Bitcoin soaring high. But that's where it's important to be able to manage your finances so you can separate funds for urgent needs and invest them in long-term investments in Bitcoin.

The decisions I made in the past were not a mistake but a study to correct myself if Bitcoin is indeed very valuable as a long-term investment.

That's urgency and circumstances taking place to an investor's life and I agree that he did the right thing. Regret is normal to be felt in such instance that upon selling it suddenly increased however, what might be the reaction if there was a sudden decline that time? Will it be the same? Most likely it won't and that's just how things work in this industry. No one is certain of the next market price movement and if you need to act upon your daily life struggle concerning your investments and expenses, then pulling out your asset if it will aid the financial problem, is the right thing to do. Also, it won't be the end of your investment journey. You can always start again if you want and there's never a 'too late' moment until its market price again reach its ATH, 'coz that would be the only time recession on its value is guaranteed in relation with price correction.

There are really indeed moments or situations in life on which we do really need up some funding or those emergency funds since we have already used it all up or been depleted on which it cant really be avoided
that you would really be taking up options basing that we do know or have in mind that we've seen that we do have crypto holdings on which most likely we would really be using it up and would really be trying out to resolve those current problems on which i cant blame them specially if your loved ones is really that getting involved or someone whose really that important.

I've been through how many times this kind of situation on which you cant really be able to make yourself that be able to resist out and since you do know that you do have money then you would
definitely be pulling it rather than seeing things becomes worst on which it would really be giving out that potential regret for the rest of your life. Just like been said that its never been too late
when it comes to Bitcoin investment or even into some altcoins too.

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Quote from: GigaBit on February 14, 2024, 02:03:46 PM

This mistake was made by many bitcoin investors and the today's price is a one kind of reminder. Regret is very common situation for them. A friend of mine sold his bitcoin a few months ago when it dropped below 27k and prepared to buy further dip but he waited as the price of bitcoin went up and he now regrets it. Of course I gave him the suggestion but he was afraid to take the risk. Situations like this are not uncommon, but a Bitcoin investor can learn a lot from it. People learn from mistakes.

I think your friend made a big mistake by selling bitcoin at that time. Because now the market for bitcoin is 52k$ if your friend had bitcoin now he could have sold it for a lot of profit. But if he had listened to you and reinvested the bitcoin he would have still made a good profit. Could have. But he regrets a lot because he is not willing to take risks as far as I can imagine. We know that without taking risks we can never achieve success so we have to take risks carefully.

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Quote from: radjie on February 16, 2024, 03:09:44 AM

Selling Bitcoin for urgent needs in the past, I think was the right decision if it was used for something useful. although in the end there was regret when he saw the price of Bitcoin soaring high. But that's where it's important to be able to manage your finances so you can separate funds for urgent needs and invest them in long-term investments in Bitcoin.

The decisions I made in the past were not a mistake but a study to correct myself if Bitcoin is indeed very valuable as a long-term investment.

We always have urgent needs, emergencies in our life so if we don't have reserved money for such situation, and use all money to buy, invest in Bitcoin, I am quite sure that we will have to sell our bitcoins for urgent needs.

To avoid unwanted Bitcoin sale, we have to reserve part of our money for urgent needs, emergencies. Like 10% of our capital must be reserved for emergencies or bigger like 20% to 30%.

With the rest 70% up to 90% of capital, we can invest in Bitcoin without fear.

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Quote from: radjie on February 16, 2024, 03:09:44 AM

Quote from: DapanasFruit on January 28, 2024, 01:57:27 AM

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days?

Selling Bitcoin for urgent needs in the past, I think was the right decision if it was used for something useful. although in the end there was regret when he saw the price of Bitcoin soaring high. But that's where it's important to be able to manage your finances so you can separate funds for urgent needs and invest them in long-term investments in Bitcoin.

The decisions I made in the past were not a mistake but a study to correct myself if Bitcoin is indeed very valuable as a long-term investment.

That's urgency and circumstances taking place to an investor's life and I agree that he did the right thing. Regret is normal to be felt in such instance that upon selling it suddenly increased however, what might be the reaction if there was a sudden decline that time? Will it be the same? Most likely it won't and that's just how things work in this industry. No one is certain of the next market price movement and if you need to act upon your daily life struggle concerning your investments and expenses, then pulling out your asset if it will aid the financial problem, is the right thing to do. Also, it won't be the end of your investment journey. You can always start again if you want and there's never a 'too late' moment until its market price again reach its ATH, 'coz that would be the only time recession on its value is guaranteed in relation with price correction.

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Quote from: DapanasFruit on January 28, 2024, 01:57:27 AM

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days?

Selling Bitcoin for urgent needs in the past, I think was the right decision if it was used for something useful. although in the end there was regret when he saw the price of Bitcoin soaring high. But that's where it's important to be able to manage your finances so you can separate funds for urgent needs and invest them in long-term investments in Bitcoin.

The decisions I made in the past were not a mistake but a study to correct myself if Bitcoin is indeed very valuable as a long-term investment.

thecodebear

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Quote from: mk4 on January 28, 2024, 02:11:25 AM

Back then I moved around 2-3% of my total BTC stack to BCH just for the "what if" factor despite knowing that it would most likely end up failing. It was the first BTC hard fork that had a somewhat-decent amount of community support and I felt uneasy having zero exposure; knowing also that Jihan Wu and Roger Ver had a lot more influence back then.

So yea, it was a slightly costly mistake, but definitely nothing I can't come back from.

Idk what that BTCV thing is tho lmao how did you even end up that deep in the trenches.

lol BCH.

I managed to get on Coinbase during the first 5 minutes after they added BCH, before they shut down trading for a few days or whatever. Just pure luck that I signed on during that handful of minutes. Sold my BCH that I still had from the fork at $4500 a piece, made over $26k out of thin air on that haha. Though if I had waited like 30-60 seconds I could have sold it at $8000 - $9000 where it peaked during those few minutes. It was wild watching it jump around in increments of $500 and double from my sell point in less than a minute haha. But like two minutes after I sold trading was shut down and when they brought it back online a few days later the price was down to the normal market price of like $3k. So I can proudly say I have one of the highest BCH sell orders of all time! I sure took advantage of that useless token haha

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Quote from: nimogsm on February 14, 2024, 04:41:05 PM

It’s never too late to start buying a little at a time. There’s no point in buying a large sum right away if you’re new to this industry.buy once a week for a small amount if your extra finances allow you to do so. Pay attention to the price for the last few months. Imagine if you If you bought it in portions, then your savings would have increased in price, here’s a simple example. The main thing is to start doing it and the result will not come right away, you need to be patient and slowly increase your capital and the result will please you in half a year or a year.

I agree that it's never too late to start but I don't really agree that buying big is pointless.
Buying in DCA is still very much a wlrth it in terms of investment but that doesn't mean we shouldn't buy in large quantities because as long as we can cover the purchases made why not because it's even better if we buy in large quantities if we can afford it.

All have different finances and in this case it depends on the economic readiness we have if we want to invest because after all not everyone who is new to bitcoin has problems in the economy. As long as the large purchases made can be consistent then it will be very much better but if it is burdensome then do as much as you can.

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Quote from: DapanasFruit on January 28, 2024, 01:57:27 AM

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days? Three years ago, I got bored with the movement of Bitcoin so I look for other good alternatives which I can use to replace...unfortunately I decided to go for BTCV all in. And it was a big horror because two months after the price of BTCV dropped to just 30% to when I bought them...got no choice but to cut loss.

Please share your story here if you have one so we can learn a lesson or two...

Actually, your mistake was not buying a shitcoin at some certain period in time, but rather buying a shitcoin at all! People tend to make up all kinds of excuses for not buying Bitcoin: it's too long to wait for gains (I want here and now), you need to invest too much to get some nice returns (altcoins are cheap I can buy tons). That is why most noobs decide in favour of shitcoins, and that is their gravest mistake.

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The highest regrettableble mistake that I have made in Bitcoin since I started is to sell off my holding once it reaches a particular amount, up until the last quarter of 2023 when I had a mindset change and started to handle more Bitcoin and minimised my sales pressure up until I have now arrived at a stage where holding no longer stress me rather it becomes a source of motivation for me at all time.

Many of us have made one mistake or the other, but our ability to move ahead of those mistakes and use them as a stepping stone to achieve a greater future is what makes us different from others who end in they regret without making any corrections.

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Quote from: DapanasFruit on January 28, 2024, 01:57:27 AM

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days? Three years ago, I got bored with the movement of Bitcoin so I look for other good alternatives which I can use to replace...unfortunately I decided to go for BTCV all in. And it was a big horror because two months after the price of BTCV dropped to just 30% to when I bought them...got no choice but to cut loss.

Sorry about your loss, but still, if you didn't risk at all, you may not be able to gain. But this is just due to your wrong choice of investment, you may be happier with other alternatives. Although you didn't explain it well to let us know the time you made the investment, whether or not it was during the mini-bull run season or the last major bullish or bearish season. Either way, you have learned in a way, and even if you would invest in altcoins, you should not be emboldened to the extent of investing all your money in just one, the risk is too much. Unless you are so lucky, it's either it will not move up so much or you will lose some of your investment money.

But as it is now, there is still hope. You may try as much as possible to wait for it to reverse in your favour. It could still dust off the 30% loss, and you might gain back your money with ease. Thankfully, we are entering the major bull run season soon, so you may even gain back your money in multiples, and the gaining could be speedy too.

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Quote from: nimogsm on February 14, 2024, 04:41:05 PM

It’s never too late to start buying a little at a time. There’s no point in buying a large sum right away if you’re new to this industry.buy once a week for a small amount if your extra finances allow you to do so. Pay attention to the price for the last few months. Imagine if you If you bought it in portions, then your savings would have increased in price, here’s a simple example. The main thing is to start doing it and the result will not come right away, you need to be patient and slowly increase your capital and the result will please you in half a year or a year.

Besides that, buying large sums of bitcoins with the limited money you have or taking loans just for the sake of investing in bitcoins won't give you peace of mind while you are waiting for the price to increase because we are not assured to have such scenario whenever we decide to buy bitcoins rather it's a matter of waiting for long because we seek the higher price from our main capital, in that case, we are looking to hold it for long term and using the money we don't need is recommended even though it's lower than the other's investment at least, we won't having any problem once the crypto market is still not moving at all.

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Winding down.

I feel like being robbed by the market after missing the chance to sell my Bitcoin during ATH. I couldn't still forget about that but yes, we have to move on and make this experience to become better, and need to trust our investment. We have to understand how volatility affects our decision and we don't need to let it happen but instead, must remain calm and positive. I realize how important to analyze the market first before making any movements and decisions because that gives us a lead to what we do next. This is what I've been missing before as I was also influenced by the FUDs spread in social media.

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Quote from: Rehan Zakir on February 12, 2024, 09:25:43 AM

The price of Bitcoin fluctuates greatly. During my learning phase, I made many mistakes. I bought Bitcoin at $37,000, but when it dropped to $25,000, I sold it at a loss. Later, the market dipped below $20,000. However, after one month, the market surged and reached $38,000. I felt very depressed that I sold my Bitcoin at such a low price. This was a mistake I regret.

Actually, you are not making a mistake by doing that even though you have experienced a loss because you do not have enough patience to wait for the Bitcoin price to improve again as in the current example. Just imagine if you sold the Bitcoin you bought at the current price of $52K, of course the profit you would get would be very good. So for beginners, apart from having to provide capital when they want to buy Bitcoin, they also have to provide a level of patience for themselves along with a level of not easily panicking when they see a price drop in Bitcoin.

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Quote from: ChiBitCTy on February 07, 2024, 12:12:17 PM

Well for those who've been around long enough, I think it's important for those whom haven't to understand what we've been though. There was and still isn't a guarantee that bitcoin is going to blast off and continue with its climb up north. So for many of us, selling our bitcoin when we've been up a few thousand percentage points, not knowing what the future holds, you can't really blame yourself.

Same thing goes with Laszlo and his 10k btc pizza.

Without these supposedly wrong moves with Bitcoin as OP says, people wouldn’t learn or wouldn’t get confidence in what they ought to do or what’s the best thing they should do with their Bitcoin.
Now, having to spend your Bitcoin when the opportunity presents itself isn’t a worst move, nope. It’s just some unavoidable circumstance that requires you utilizing that medium and maybe, experimenting Bitcoin spending in that moment because, you couldn’t do anything else.

You don’t blame yourself over that. You get to learn from history based on where you didn’t really anticipate or speculate the charts to be and then, you find price beating that mark and being a confident booster for you. Rather than regretting, build from where you are.

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Quote from: JiiBs on February 07, 2024, 10:59:57 AM

Quote from: nimogsm on February 07, 2024, 10:05:44 AM

Quote from: eye-con on February 06, 2024, 03:52:52 PM

I made a big mistake in the past. Whenever the Bitcoin price went down, I used to sell my holdings immediately, hoping to buy them back at a lower price. But this strategy didn't work for me and I ended up losing money. It became frustrating, so I stopped holding Bitcoin altogether. Unfortunately, I missed out on the big price increase that happened later.

I think this is one of the most common situations, we have all been there and this is absolutely normal because when we start our journey we don’t know much. Now the best strategy is accumulation because in the long run it is always more profitable than waiting for drops and buying cheaper.

Unlike you guys, I haven’t had to buy a single Bitcoin at all but I hope to buy some day, maybe when am really satisfied in my mind to take up the investment and fine better means to secure it. I have come to see people talk about a best time to buy and sell but, where does that place me being ignorant about it and how it actually operates and not having to lose them after I only just bought them.
Isn’t it better late than sorry?

It’s never too late to start buying a little at a time. There’s no point in buying a large sum right away if you’re new to this industry.buy once a week for a small amount if your extra finances allow you to do so. Pay attention to the price for the last few months. Imagine if you If you bought it in portions, then your savings would have increased in price, here’s a simple example. The main thing is to start doing it and the result will not come right away, you need to be patient and slowly increase your capital and the result will please you in half a year or a year.

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Quote from: DapanasFruit on January 28, 2024, 01:57:27 AM

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days? Three years ago, I got bored with the movement of Bitcoin so I look for other good alternatives which I can use to replace...unfortunately I decided to go for BTCV all in. And it was a big horror because two months after the price of BTCV dropped to just 30% to when I bought them...got no choice but to cut loss.

Please share your story here if you have one so we can learn a lesson or two...

This mistake was made by many bitcoin investors and the today's price is a one kind of reminder. Regret is very common situation for them. A friend of mine sold his bitcoin a few months ago when it dropped below 27k and prepared to buy further dip but he waited as the price of bitcoin went up and he now regrets it. Of course I gave him the suggestion but he was afraid to take the risk. Situations like this are not uncommon, but a Bitcoin investor can learn a lot from it. People learn from mistakes.

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Quote from: eye-con on February 06, 2024, 03:52:52 PM

I made a big mistake in the past. Whenever the Bitcoin price went down, I used to sell my holdings immediately, hoping to buy them back at a lower price. But this strategy didn't work for me and I ended up losing money. It became frustrating, so I stopped holding Bitcoin altogether.

One thing I was lucky enough to understand during my early stages of this journey was that "Bitcoin price always comes back up". It might take time but the patience is worth it. I also knew that trusting Bitcoin over altcoins was the way to go. I was not good at short-term investments, and that is what a lot of altcoins offered. Within a month you can be getting X10 your investments. I wasn't moved by all that because I could never tell which coin would go up and which wouldn't so I just stuck with Bitcoin.

Quote from: JiiBs on February 07, 2024, 10:59:57 AM

Unlike you guys, I haven’t had to buy a single Bitcoin at all but I hope to buy some day, maybe when am really satisfied in my mind to take up the investment and fine better means to secure it. I have come to see people talk about a best time to buy and sell but, where does that place me being ignorant about it and how it actually operates and not having to lose them after I only just bought them.
Isn’t it better late than sorry?

I won't advise someone who doesn't doesn't have the basic understanding of Bitcoin to buy Bitcoin, no matter how bullish it might be at the moment, but if you have the understanding of it, I mean what it really is, then you can go ahead and buy if you want to and if you have the means to.

But since you said you're ignorant of how it operates, it's a good thing You're here, that's if you're interested in it. Your interest will make you curious and your curiosity will make you learn about it. It's actually not as complicated as it seems, just be ready to learn, that's all.

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Quote from: Altryist on February 13, 2024, 02:31:51 PM

Quote from: redsun114 on February 13, 2024, 12:19:45 PM

That's a mistake that a lot of people made back in the day. Though I didn't have the same mindset and my situation was different, I lived through the phase where people didn't believe in Bitcoin and thought it was something bad and not worth any attention and at that time, the price of Bitcoin was around $400 or something. I still remember, that international media used to call Bitcoin a terrorist coin because it promotes anonymity and decentralization, and people used to call it a bubble.

Throughout this time, I always knew Bitcoin was something magnificent and it would be huge in the future, however, I was a student back then and didn't have the funds to be able to purchase any.

I remember exactly the time when Bitcoin cost $250, one person with shining eyes proved to me that this was the coin of the future, that it would be very expensive. I looked at him and of course I didn’t believe him that this could happen, but he caught my attention because he had bought Bitcoin earlier at a price of $100, and at that time already had a profit.
Of course, he sold his bitcoins too early and was not able to make the profit that he told me about then. I don’t know if he owns bitcoins now, but thanks to him I began to become interested in bitcoin.

I really hope that this person that helped you back then still holds some bitcoin as in a way it would be tragic if that was not the case, now I am not going to deny that compared to the expectations that I had back then when I begun my journey, bitcoin has grown at a speed that is many times faster than what I thought I could see, so I could understand that someone that sold at the time, may have thought that a drop in its price was coming, and then they were surprised when the price of bitcoin kept increasing.

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Quote from: redsun114 on February 13, 2024, 12:19:45 PM

That's a mistake that a lot of people made back in the day. Though I didn't have the same mindset and my situation was different, I lived through the phase where people didn't believe in Bitcoin and thought it was something bad and not worth any attention and at that time, the price of Bitcoin was around $400 or something. I still remember, that international media used to call Bitcoin a terrorist coin because it promotes anonymity and decentralization, and people used to call it a bubble.

Throughout this time, I always knew Bitcoin was something magnificent and it would be huge in the future, however, I was a student back then and didn't have the funds to be able to purchase any.

I remember exactly the time when Bitcoin cost $250, one person with shining eyes proved to me that this was the coin of the future, that it would be very expensive. I looked at him and of course I didn’t believe him that this could happen, but he caught my attention because he had bought Bitcoin earlier at a price of $100, and at that time already had a profit.
Of course, he sold his bitcoins too early and was not able to make the profit that he told me about then. I don’t know if he owns bitcoins now, but thanks to him I began to become interested in bitcoin.

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