Bitcoin Forum

Then it immediately crashed.

Then it creeped back up to almost what I paid for it...

Then it immediately crashed.

Then it creeped back up to almost what I paid for it...

Then it immediately crashed.

Then it creeped back up to almost what I paid for it...

Now it appears to be crashing again.

Ay yi yi.  I am beginning to think this is all just a grand conspiracy to screw with me.

Don't worry about it.

I know that doesn't help, but it is surprisingly sound advice.

We all say that at the price point we bought in at. It takes a full year or more to get a great ROI if you bought at a peak. While it's lower is a good time to buy a little more to hedge. Usually it's best to buy with cost averaging.

You failed by not buying more at a low an thus averaging your holding entry point. You could be sitting in profit right now if you had doubled your fit investment whilst at the bottom.

$2000 = 2btc @ $1000/btc
$2000 = 4BTC @ $500/btc

total = near $6000 right now with a cost of $4000

 

Just take it easy, at the end it wil be mutch higher than $1000 8)

In late 2011 I was down over 90% on the first bitcoins I bought. You can guess my ROI now.

If you haven't been down >75% for some period in your bitcoin holding, consider yourself lucky.

The fact that it recovered to almost $1000 WITHOUT the massive chinese support in about a month should really say something about bitcoin's growth and stability though.  China made up a huge portion of the bitcoin population/ecosystem and was largely responsible for bitcoin's explosive growth in November, but now we see that the void is getting filled up at a good pace and will continue to expand worldwide.

China is still in. http://fiatleak.com/

You bought an asset/currency/instrument that has a very clear history of such volatility.  Why are you so surprised and taking it personally?   This is what you signed up for.

long term buy and hold is the winning strategy,

http://www.moneychimp.com/features/monthly_returns.htm

no worry cough up more dollars and aim at 600 or lower and prey

Like mentioned above, you should have bought more when it dropped. If i had more money, id have bought more at $600.

Now you know why traders are paid so much and why they suffer so much stress :P

You bought into a highly volatile asset during its all time peak... what did you expect?


Like others said ITT, just wait.




I bought LTC at $32, same thing is happening to me... but I'm not worried

Atleast your not like me, I had heard and supported bitcoin over 2 years ago, but I never go around to buying any until it was like 600-800 dollars. I just didn't have any money/job to buy then, but it feels shitty.

If bitcoin gets widely accepted as a currency though, you and me are both going to be sitting on a lot of cash.

Good on you for not selling! Pat yourself on the back for that and keep it up! :)

Forget about how much Fiat you paid and just be happy you have some coins.

It's not about the Fiat anymore, it's about the Bitcoin.

Bitcoin should be considered a longterm holding. Do yourself a favor, secure your bitcoins with an offline cold-storage wallet, and forget all about it for at least 6 months, then come back.

Well he still needs to worry about his bitcoin's buying power doesn't he?

HODL! Stick your coins in a cold wallet and come back in a year.

Good job! We need more suckers like you to keep the price up.

Don't worry, the price of bitcoin will rise over $2000 in Q1 2014.

It is a common experience in BTC to buy as the price rises and then experience these "ups and downs."  My husband and I had the same thing happen to us in April.  We bought into the spike up to $266.  Our average price at that time was about $120 per coin.  We then were under our average price for most of the Summer.  It was a bit unnerving.  We did not invest more than we could afford to lose so we just waited, like many people on the board advised was the best strategy and as you can see that was great advice.  Sure it would have been nice to buy earlier, or later when the price dropped.  But the problem with BTC is we are never really sure how high it will go or how low when the price is bumping around.  But in the history of BTC it always has gone up so holding has been a "no lose" strategy for those that can do it without panicking. 

HODL MAN, HODL!

But seriously, if it dropping is making you that worried, maybe you shouldn't be hodling so much BTC :)

Come on guy.. Despite how much you may want it to be true or how big your ego is - I'm sorry to say but the world does not revolve around you or your shit life. You are not living the Truman show.

Are you one of those guys that occasionally refuse to watch a sporting event because you think that whenever you watch one the team you like loses or you bring them bad luck?

Or maybe when your team wins you blame it on your presence and how you tend to bring good luck whenever you watch

Get your ego checked kanye

I guess that's why they say buy the dip "BTFD" but in this case your lucky you just bought before a dip which is preceding a tectonic rise.

Wow. Someone can't take a joke. OP is being humorous. It's funny. Some people take this too seriously....

That's what I was just thinking.. Buying + $1000 might hurt for a while, OP.  But everyone here is right.  Don't sell.  Wait.  Your profits won't be the same as those who got in earlier, but there will be profits. 

Don't worry. Bitcoin is on the cusp of mainstream business in the US.

http://www.cnbc.com/id/101316945

Believe me there is a whole lot of room for Bitcoin to grow in this country alone. Vast spaces as Bitcoin is a multi-faceted asset.

You will be feeling fine very soon!

PS There are many in your position and I am in from the upper hundreds. I am holding for the long-term.

What the fk are ya talking about boy!?

65% of current Bitcoin trades are done in CNY.

How much skin do you have in the game anyhow? 0.5 BTC?

Misinformation comments like this contribute to people losing money.

Those who bought at $32 in 6/2011 got laughed at for months. Who is laughing now?

MatTheCat if you have money to buy get ready now. Things will go back up quicker than you think! You know you tend to be a bit too negative at times? Well watch out!

OPEN ORDERS
Order type   Date and time   BTC amount   Bitcoin price   Order value   Order status   
Buy   Jan. 7, 2014, 2:14 p.m.   5.00000000   $660.00   $3,300.00   Open   Cancel
Buy   Jan. 7, 2014, 7:33 p.m.   5.00000000   $650.00   $3,250.00   Open   Cancel
Buy   Jan. 7, 2014, 7:33 p.m.   5.50000000   $640.00   $3,520.00   Open   Cancel
Buy   Jan. 7, 2014, 7:33 p.m.   6.00000000   $630.00   $3,780.00   Open   Cancel

How negative is that 4 ya?

Last time I posted one of these in here it was for between $400 - $500 on Bitstamp. Everyone laughed at me and a few people reasoned that my bets were placed wildly low, so I raised the bar to $500 - $600. Bitcoin slumped to $380, so this time, I am going to stick to my guns and if I miss out, then I miss out....at least I won't lose money. I fkn hate losing money.

It's all true.

LOL! How I thought that at the beginning!  :D

"Buy on red, sell on green"

--Confucius (i think)

It sounds counter-intuitive at first, but it does make sense. 
For short-term profit: buy when prices are dropping, sell when they're rising.

For long term....just buy and forget. Come back in a year or two.
Don't spend any time at all monitoring the markets, unless you like to be stressed every time Bitcoin catches a cold.

Buying at all time high of anything is pretty dumb.

But you could have done much worse.

All you simply have to do is wait, it'll go up in price.  

It's not so much that bitcoin is so awesome (although it is) it is more than fiat imaginary money loses its value so quickly that anything that doesn't, appears to be booming in comparison.

Suckers like him?  ???

He didn't sell. He hasn't lost anything yet.

It's those who sell for less than they paid who are the suckers.

i bought near the top of the june 2011 bubble. it went down so far and anyone thought it was dead, i started to think it was a scam and erased everything and forgot all about it. (i had my btc at a mtgox account that got hacked) and felt sooooo stupid that i burnt almost 3000 dollars. i had to wait more than 1.5 years to break even. now those 100 coins are worth 78 k (stamp).

to pay less than $30,- seems so cheap now, but was so expensive for 1.5 years.

same with $ 1000,-
relax, you did your best investment in life. short term you timing sucked, but long term it makes no big difference. 

Hey, don't worry.. hold on to those coins, because I think that bitcoin still has 1 or 2 bubbles and crashes before people start to relize that the bitcoin market is a scam :)

Totally true

I hesitated to invest in 2012 - it was at 9 dollars when I first heard of bitcoin. After the Cyprus bubble I was still thinking, I thought it was going to drop to a very low price, I didn't realized the power of bitcoin then. After a few month reading I finally went into it and started mining bitcoins. During the last november/december phase I had some spare dollars that I judged better to place into bitcoins. I bought at 990. No problem with that  :) It reached that price two times since, and will reach twice that price maybe a few times

See this site: www.bitcoinpulse.com

Wallet growth rate is 29.91% per MONTH. You have nothing to worry about.

When Btc user base increases from 1 million to 10 million, we would only be scratching the surface.

To get to 1% of the population requires a user base of 70 million.

That's why so many people recommend a buy and forget strategy for 6 to 12 months.

Crash is not proper for the price trend, if you see the price go down from $37 to $1, you will not say all these trends recently are crashing.

   Just keep reading about bitcoin. The more you understand it, the less worried you will be.

true.

We averaged around $120 at first and we were upside down all summer.  We're fine now.  Just continue to hold.

If you believe in BTC, best thing to do is just buy and put it somewhere you can't touch it.  You start to worry about what happens day to day and week to week less.

I did what you did for a while after buying in the $200s on the way up to $266 back in April.

Now I don't have to ride that rollercoaster you mentioned anymore!

Forget about the short term.
Think about the hyper long term, say March or April 2014.
 ;D

If you think litecoin is undervalued at present consider using half your bitcoin to buy litecoin. Never hurts to diversify.