Bitcoin Forum

I need some advice here...

I only got into Crypto trading a couple of weeks ago. Pumped in £500 into multiple different coins within the first week. Today my investment is worth about £300.

The way I see it i have 3 options:
1. Pull out. Pay the withdraw fees and take back £250 of "real" money and live to tell the story and learn a lesson
2. HODL
3. Buy the dip. I could probably spare another £500. Do i put that in whilst the price is the lowest it has been for 2 months? Problem with this is we have seen a steady decline now for almost 48 hours. For all i know it could carry on for another 48 hours before rising again. If it ever does. I think if i did this method i would buy Bitcoin only. No trading. Just buy cheap (hopefully) and then use to trade when the value goes back up (hopefully)

Any thoughts and ideas welcome! I'm all ears.

can't really tell you what to do so i'll leave you with what i do.
HODL and buy dips.

Any other advice floating around out there?

You pretty much answered your own question. It only depends on you if you could afford to wait longer for a potential rise in price or if you really need the money and cash out now. Personally though? I'd buy the dips. But if you think crypto's prices are going to drop more, then sell. If you think they're going to rise, then buy.

Assuming you put the money thinking also at the rule "do not put money in crypto that you cannot afford to loose", I would exclude option 1. Based on the same rule you can decide between 2 and 3. If you go buying than the rule is "buy the dip". How deep a dip can be, of course nobody knows. You have to trust your feelings. If you believe crypto will rise back from this dip, it should not matter if you buy now or after it drops (if it drops) another few hundreds.

I'm allready mad at me that i didnt buy in today but lets see how this turns out.
will dump another 2k in the morning.
So if you are like me , buy more.
or wait how it turns out.
but i believe and am in the game for longterm (have allready been since mid 2016)
But do what you are most comfortable with
wouldnt recommend the selling option tho.
wait it out in the worst
Longterm crypto only knows one way , and thats up ; )

What is HODL?

“HODL” – “Hold on for dear life”

hodl
An "on purpose, kinda" misspelling of "hold" - first coined in the altcoin sphere in 2013 & later said to imply "Hold On for Dear Life". It reinforces the financial concept that you don't sell in a Bear Market. You ride it until the bitter end, or the price comes back up. (Hint: Crypto prices usually comes back up.)

First use reference: bitcointalk.org/index.php?topic=375643.0
When the trading prices keep dropping embarrassingly low, keep hodling! This isn't Penny Stocks - it will come back up eventually.

HODL  ;)

while cheap lg market we can get coins, later after high market again we just exchange or d money ..

If the £500 you already put in won't hurt to lose, then hold it. Hodl :)

Investing a second £500 is harder to call - that's up to you. But could I suggest you google the January Dip? It's a thing.

Personally, if I had a few extra quid about now, I'd buy. But I wouldn't spend the rent.

Personally I'd take the risks and buy the dips, and that is if I can afford the potential losses on my pocket. From the looks of it you seem to be anxious about investing in crypto in the first place knowing that you're already scared of a 48-hour downtrend. I myself have been in the same situation back in 2014. Lost some money, reconsidered my goals and told myself to buy the dips whenever possible. Made quite a holding of bitcoin in today's standards and sold them all for a 3000% return. The trick is you take risks you know you can bear if things don't work out well. It is rewarding in the end. Also, try to set emotions aside when dealing with your paper. It ultimately helps you in making wise and sensible decisions. Don't chase losses and always, always be patient.

If a dip scared you enough to post about it, I would recommend holding and not investing anymore until you witness how volatile the crypto market can be.

I think you should "hold" your coins. sell when the price decreases (panic selling) will only make the price of coins is reduced. You just need patience in trading.

This^^^^ is one of the best answers. IMHO

  I'd +1 you @dothebeats but i don't see the button yet?  :-\

KUDOS!  :)

Patience is a virtue, usually the graph goes down when January and after this it will sudden spike up. So, HODL.

Ear to the ground, watch charts/graphs, then make an educated decision and be Nike and Just Do It!  :-*

Of course HODL lol
and buy more, I think
There;s a pretty funny video on cointelegraph which talks about hodl
it's called red wedding of crypto or smth like that
search it! it's hilarious

Buy the dip if you can afford it. HODL for now unless you actually need the money.

To be honest man, if you care about the fiat money or really need it take it out. If you dont need it right now then just HODL. 
My advice is to not buy the "flavour of the week" coin, you know the one that gets 10 000 youtube videos uploaded about it out of the blue, with thumbnails with Lambos, guys looking surprised, an upward graph that says 1000% or anything like that.

Go research and put your money into things you personally believe in, dont ever buy things just because everyone else is. Think about ICOs and coins with a clear mind and think "is there a market for this product?".  If you really believe in the stuff you put  your money in to then you wouldn't be scared to be down for a few days in net worth.

Also, dont day trade unless you really really know what you are doing. That stuffs really risky

All give the correct clues, but no one asks in which cryptocurrency the author invested. After today's fall of the whole crypto market, many weak and young coins will not be able to fly again!  Is not it?

Thanks for all the insight guys, appreciate it.

I ended up putting £200 on the dip.

I was dabbling in the world of trading and had my money spread across about 15 coins. I ended up keeping away from this because the fees to transfer between wallet and exchanges are astronomical and I would have to clear about a 30% return just to break even.

So my goal is now simply to invest. I see this as a savings account now with a volatile interest rate. Each month, what I would normally put away into savings I will invest half into a split of Bitcoin and Ether and just leave it like that.

I love watching the graphs and trying to gain as much knowledge as possible but I'm also acutely aware that I am not going to make a fast buck from trading unless I am an expert at it. And I'm not going to be an expert unless I invest 40+ hours a week into it. I'm quite content now just investing some cash and watching the rollercoaster from a sideline.