Bitcoin Forum

In November 2013, Bitcoin price had hit 1100$ and then a massive crash had begun until it had hit 160$ at the beginning of 2015. It took almost three years for Bitcoin to hit the same price again.

Most of the investors today just know this as a story but what about the ones who were there then and now here as an investor? What is the most valuable advice does a veteran could give us? I'd like to hear how does this patience and tolerance war could be won?

I wasn't an investor in Nov-Dec 2013 but was just a keen onlooker on things that's happening for bitcoin. I was only starting to read here and there about bitcoin until I made my first purchase in April or May 2014, back when the price was hovering @ $300. Back then I thought that it will never achieve the same price point over again seeing how the littlest of price increase ($20-$50) were immediately shut down by the bears. Basically, everything was a shit show in 2014-2015, together with China banning and un-banning crypto. As an investor, I just bought until I have a hefty stash, waited for the price to get up and sold. Just don't stress yourself up in checking the prices during crashes as it will really return negative search results; just keep on with your life and just leave your stash on where they are until you hear a buzz regarding crypto and its markets.

I got to know bitcoin in 2016 when it was around 600$ per 1 btc.  I only read about the previous price actions,. Since then the price has moved up and also down at some percentage increase and decrease. It's a usual trend that many people didn't take note of. Majority are only in price prediction of 50,000$ per 1 btc specially after it hit 19000$ in 2017. I can just say we should take note of this trend and make good wise use of it for better profiting in this space. 

I was here through the last crash, I HODLED & bought more. I’m doing the same now. Don’t panic!
When others are panicking, that’s the time to load up & buy cheap coins.

Profit from others misery!

Started using Bitcoin in 2015. I wasn't there during that time but here's my advice to anyone that's currently holding at a loss. Avoid looking at the price and keep yourself busy so you won't have to remember anything related to Bitcoin.  Don't get carried away by the losses you have now and always think that this is only a short term loss. Endure the loss, the time you spend on waiting won't go to waste at some point the price would eventually go back to where it was. Lastly, never sell at a loss.

I think that with each wave the number of investors increases.

A new wave of growth in Bitcoin prices will begin in 2020. This is my opinion, but I hope that I am right.

I remember crash after Mt. Gox collapse. Few months before that crash I had bad feelings because in Nov 2013 my cash deposit was delayed. I sent money from my polish bank account to buy 1k LTC for price ~5 USD/LTC.  Mt. Gox had my money within few seconds because it was an account in the same bank (BZ WBK in Poland). After a few messages and 30 days later the funds were on my deposit wallet.  LTC was for 25 USD so the same day I changed everything to Bitcoins and sent it to my cold wallet. After that I didn't use Mt.Gox any more.

I've learnt to keep coins on external wallets. But... I wasn't patient. I sold everything in 2016. So lesson #2 if you want to cash out in a bad times, sell only half (if you have to), another half just keep and wait.  

BTC is the founder of crypto but will not last. Mining it is for Chinese slaves. The fees are stupid high. There is nothing positive about BTC anymore. I'm watching the days go by as BTC bleeds a slow death.

Witnessed the crash back in 2013 myself though I didn't have guts to buy the dip back then. It really took some 3 good years for BTC to get back on track. What I learnt is that one has to be extremely patient and ready to wait even if it's 5 years>
So just use the cash that you may not need in your day to day life to buy and keep... 2 to 3 years, the wait may be worth it.
I personally bought some BTCs for myself later on.

I went through several corrections. People constantly focus on the $1100 peak, but the bull run that happened just before that was one to remember as well. I started buying my first coins around $20 back in early 2013 to then see the price pump to over $200 (which I bought at as well), and then drop back to $50-$60. I was a noob at that point and rekkt myself all the way till the $1100 peak.

I don't even consider that to be something scary at all. The moment that really got me was when out of nothing the price tanked like 50% in a matter of minutes due to SilkRoad being shut down by the FBI. I was on the brink of panic selling but decided not to. Not sure what it was that prevented me from dumping (probably the shock) but it was an amazing learning experience.

Great experience here, I hope to use it as a source of motivation through this bear market until the next bull run. I only started to get serious interest in Bitcoin and Ethereum earlier last year.. Made even so profits though i didn't sell all during the December madness later that year.

Am still HODLING some other coins from last year and hope to wait till the next crypto madness.

Bitcoin is overhyped that's all it is and now since allot big investors lost allot of money I'm afraid it will restore again to the same price

Stay away from investing in crypto if you don't accept and understand the risks involve. You can invest in other investment vehicles with less risk. High risk will result to high rewards so if you're a risk taker and want to earn more profit than the traditional investments then go invest in crypto but always remember to invest only an amount that you can afford to lose to avoid frustration and ranting in forums about your loss and blame crypto. ;D

if these veterans are still active in the world of bitcoin until now, maybe they will also give advice on doing HODL for three years like the previous crash
only a few investors do not panic and do not use their emotions in conducting bitcoin transactions for trading purposes
1100 to 100 USD, the moment is like ETH, but will ETH also be able to recover in the current conditions?

Like I always used to say, and TBH this mantra isn't repeated nearly as much as it should be now-days: Only invest what you are willing to lose.

Bitcoin (and other cryptos) have and pretty much always will be a risky investment. That shouldn't be taken lightly.

TL/DNR: BTC is not for making profit in USD, it is about forging money for the machines.

I was there and bought a few bitcoins and never sold them.

The reason I originally bought is because I understood I needed to transfer fiat into BTC as a quicker way than mining, but I never considered and still will never consider the other way around: changing from BTC to fiat.

In my view, BTC/USD has no meaning, they are 2 different units, as in 2 apples divided by 3 bananas, simply gibrish.

The reason i bought BTC and still continue to hold (not hodl) is because I am waiting for the time when it becomes the digital currency of the machines.

I pay you with USD and you pay me back with USD. I will not accept BTC payment from you unless the item i need is priced in BTC, I will not exchange it to a variable, volatile and inflatable fiat, it just does not make sense.

BTC is the currency of the machines, the money of things. Altcoins are the same (well very very few of them actually), they cross borders between the machines, although I do not hold altcoins because I still don't think that BTC/<altcoin> can also mean anything: BTC is finite supply and has a defined set of rules, <altcoin> may change any time so I am for more universal adoption of BTC and BTC only.

And since your question is about history, I think you should give dis-honorable mention to the countless scams that occurred these years, and I am very amazed one would think that the number and volume of scams would reduce with time, only to find that people still fall/fell for things like bitconnect. These scammers need to cash out big time.

More amazingly, you have people who participated in ICOs (worth millions at peak) now worth peanuts, take an ICO, any ICO, would be a good example. Now the amazing part is: the company that issued the ICO is owth only the market cap if all the tokens are available, I'm talking crazy stuff like Tokugawa-like coin which was pre-mined and sold as staking. Can you believe that for example I pay you $100 now and then forever you will keep paying me money back in dividends with secure capital?

the market history is not something secret that only few who experienced it can know it! it is publicly available on at last 50 different websites that provide you with price history and charts and anybody who is willing to spend a little amount of time can know it. and all the news, the FUD topics, the newbie panics,... are also historically preserved on all the social media platforms from news sites to forums and you can see all of it.

...and the only value that history has it to gain experience to not repeat the mistakes of the past not to look at it and repeat the same thing all over again by making this trend into repetition of the past!

I wasnt there when bitcoin was 1100$ and got 160$ ,I'm a total newbie ,I knew about bitcoin in 2017 but I make research history on bitcoin and I see that history is rewriting itself so why panicking? I will keep investing and stop looking at the price everyday

I wasn't there at that time because I can still be said to be someone who is new in Bitcoin. But if see what you say, I'm not sure this second period takes 3 years to reach the same value before, we can see the difference before and now. Nowadays there are many investors in crypto and I'm sure this is a far difference, with many investors currently in crypto, hopefully we will quickly see a significant increase in the near future.

The crash of bitcoin then and the crash we are experiencing now are two different cases and for the records bitcoin still had alot of crashes after 2013

Not sure this kind of a year-long falling trend happened before? And still, it's not clear whether the falling trend ended or not.

That crash is different from the one happening today because it didn't have the infrastructure that we have now. Look at binance, all the payment gateways, venezuela, it will not fall for 3 years

Now we have the big players more and more involved, so now there will be even bigger controlling of the price of Bitcoin. Also you have Bitcoin futures and also trading with leverage, whereby people can short and trade Bitcoin, like you would Forex, without even having to purchase or store any Bitcoin. These two instruments alone have brought the demise of the moon for Bitcoin holders and also Bitcoin enthusiasts. This is the wya down now for cryptocurrency and Bitcoin.

i wasnt in btc from that crash, i came in december 2016, and just in time to catch the crazy bull run, lucky 2017 year :) just to see neo at 5.5 usd recently,

what a bitconnects all over the places, 90% drop from its high is consider little drop, so BTC didnt drop hard, its stable. but i really hope it drops even more, unlike many of you here, i want btc to be 1.6k, i really do want that and neo at 2,3 buks, ltc at 15 usd, eth at 60 usd....

I was there and I can tell you that is was not a good period for Bitcoin, because it just felt as if we were breaking through to the mainstream and then the crash happened.

My advice to all the people who are experiencing this for the first time, will be to stay calm and just stop watching the price. I ignored all the fud and the negativity and I got a huge reward for doing that in 2017 when it reached the ATH of $18 000+

Just stay calm and you will be fine.  ;)

I'm not a veteran but this is about learning the past. If you believe that history repeats itself then its starting the cycle. Don't be discourage with current situations but look to the future.

There might be people that would tell you crazy for not considering the current dips but that's how they see it and its their opinion. As I've said, don't ever let someone discourage and let your feeling down if you believe to bitcoin.

In the face of the economic crisis, financial markets are collapsing!
You can see that the stock market is also collapsing. Only when the world economy continues to move forward can you see the rise of the cryptocurrency market!

I was at the time of the collapse of Bitcoin in last 2016, only the collapse of Bitcoin at that time did not last long so I could take advantage at that time. It is very different from the collapse that occurred this year, at this time I am very difficult to see the direction of the movement of Bitcoin, so it makes me unable to take any steps.