Bitcoin Forum

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

1 BTC equals to 1 BTC. This is an unrealized loss, you do not have to panic, check the price history of bitcoin and see the good reason not to panic. If you can hold for like 2 years, you can just leave it there and see when the bull run will start. I will not advice you to sell in loss if you do not need the money for anything now.

Hold your position as long you dont still need some funds or do still able to live and survive then its not really that wise on making some panic sell.Where you should average down? current price would be a

sweet spot but if we do talk about technicals then price could go down as deep as $13k but it wont be an assured thing to happen and its up to someone whether they would able to take risk or not.

This is very subjective because we dont really have different perception and views towards the market but you should bare up into your mind that you shouldnt
panic sell and its the worst thing to be done on a bear market.

$14-17k looks like a good price to buy in next imo if we do indeed go that low..

If we don't, would you be more confident buying a rise than buying a drop as that might be the next best thing you can look at doing - if we get there too after waiting a while just to confirm it wasn't a bull trap.

I don't think $20k will be that hard a price to reach again but we might be stuck down here for a while so you might want to get used to it a bit - also if you'll ever panic sell you might want to consider not investing too much while th ings are this uncertain (selling at a loss is something that's possible if you think you'll panic/get annoyed with the market and just sell).

Its only a mistake if you are compelled to sell, come here before the buy to discuss I guess might be best.    Its a rough market sure, I was noticing the price was stuck sideways or what I would call a triangle neither up or down.   It has now broken that sequence, we went down:

https://talkimg.com/images/2023/06/12/AI1iZ.png

So the triangle holding pattern wasnt really a buy it was a wait and see observation, I guess you were higher and a prior price range anyway.   Resolving downwards like this looks bad, however recovery can and will happen and we judge by the quality of that recovered price.   
  So quite a simple target, 19200 we need to trade above this and hold it as a low.   4hr bar, daily and then weekly is best to decide a buy/hold type decision.    Theres lots of time and  development needed now, we can recover just have to check how its acting and gauge vs your expectation and hopes.   Anyone new I would recommend to buy over 12 months, split it up dont hope to guess the bottom just be glad all these prices make your BTC purchased far larger then previous buyers so you are better off in this long term view.

If any price drop for BTC would leave you in a panic, you are already overinvested.  However, it is the time to start dollar cost averaging into Bitcoin.  I would recommend setting up weekly or bi-weekly buys and letting it run for a while without worrying about the price.  If you buy through this bear market, you will come out stronger on the other side.  Just make sure you aren't investing too much, because you won't want to sell for the next 2 years.  Check back on the price in 2025 and you'll be glad you ignored the noise.

the OP is looking at short term here, hence, he is too worried about the price. if he will look at the price on a daily basis, for sure, he is already feeling panic here. but should remind himself, what is his goal why he invested on this market? in my opinion, you can panic if you think btc market is slowly fading its popularity and no one is talking anymore about its existence. but for now, i believe, there's nothing to worry. just one of the bearish seasons of this market.

Now you have to be more patient and hold longer.
The price is down again but you should not sell at panic instead buy again later on to average down the cost. $18k might be more possible to happen now because of so many failed attempts to break the resistance. BTC can still go down though. If you are just doing trades, it’s good to always have a cut loss price so you can know when to stop but it looks like you are still not familiar with the market, and miss to sell short.

You don't make a single mistake, once you haven't sold you won't have any loss here. The first thing you should keep in mind once you have decided to buy, never think that it is the bottom of the market but that it is the right price at which you should begin your buy. Bitcoin can still continue to fall but will definitely rise again later, don't put too much pressure on yourself, relax.

Bitcoin investing is a long term investment so don't panic and sell at a loss on short term volatility, let's look at the long term, bitcoin has never dropped in the long term.
Currently, we are at $19k and if bitcoin goes below $18k then you can DCA from there, I think that will be the right distance for us to make a new buy order.

You could begin to DCA even right now, however I think that before you do that you need to really question yourself about your goals in this market, the price of 23k was a good entry point, you bought at a price which is only a third from the highest price bitcoin reached, that is good enough and over the long term you will get great profits, and yet you are worried about your investment due to the current drop, so you need to do some soul searching before you put more money into a market which could keep going down during the next months.

It's your choice to make your decision, because at this moment any decisions you make is the perfect one. A situation like this, the best option is to hold the coin either or weather it's increasing or decreasing more or more than the price stage you bought, the best suggestion is to allow it to propagate before you sell. Because if you panic to sell having in mind that it will continuously decreasing, i believe that it will prompt you to sell and also adventure into lost.

if you urgently need that money then close everything and cash out. if you have the possibility to wait, then definitely hold.
Just remember that someone bought it when the value was $53500. of course, some of them don't panic and are waiting for the market to return.

There's no need to panic anyway even if you bought your BTC at the ATH it's still the same as 1 BTC, unless if you needed the money which is in fiat dollar then you should have to panic since you lost some of your investment. But overall if you are only investing and planning to go for long term that's just enough while holding and extending your patience or do something that won't consume your time looking always at the market.

Besides, it's an accumulation phase since this is the bear market and you are just on the right time to buy, you just have to work your patience though.

As others pointed out, this is as much dependant on your need for cash. If you were looking to hold for less than a year, in order to take profits at higher levels, it could be considered buying a bit early. But given you bought around the 200 Week MA (4 Year average), maybe intentionally, then if you intend to hold for this similar period of time (4 years minimum), then $23.5K isn't a bad price whosoever, even if price does drop down to half that. If price did fall to around ~$12K, but that level became the low and price swiftly recovered, than $23.5K wouldn't be seen as a bad entry level imo. It'd be similar to around $6K in 2018.

If you otherwise want to keep things very simple, then you could buy more (same amount ideally) at 400 Week MA (8 Year Average) if it get's there in order to get a better average. This would be around $13.1K, would would also be around 50% lower than your current entry. If price only get's to $14K and doesn't reach this target, and instead rebounds strong, then you'd likely have little to worry about in the immediate term.

At least you are asking the right question on when to average more. There is a strong argument for if $17.5K low is broken then price can fall significantly lower, so I'd avoid trying to re-buy that level personally.

Bitcoin ATH is 69k $ and compared to the price you bought it, you bought it at a very cheap price, many people bought bitcoin at a higher price than you and they are still holding and focusing on DCA. you should define bitcoin as an investment for the future and long term should not panic when the price goes down because bitcoin fluctuates non-stop, no market can only go up without going down.

You can DCA from now on and bitcoin can also drop further or not. So think twice before putting more money into the market. Be consistent and firm with your decision whether the market continues to dump or not.

Yes, you have made a mistake, but not the mistake you are thinking of. The mistake is buying bitcoin expecting it to go up in the short term rather than for what it is.

Also, I think you have started to panic.

The best thing you can do is to inform yourself very well about what bitcoin is and stop making short term bets with it as if you were trying your luck at the casino.

All those who think like this have to first ask themselves a very important question: why did I buy bitcoin?

Did you buy bitcoin to make a quick profit?
Then you made mistake buying bitcoin regardless of the price, bitcoin is not going to give you quick profit. It is too risky for that specially at times like this when the market is very unpredictable and manipulation is at highest.

Did you want to make a long term investment?
In which case there is nothing wrong with buying at $23.5k. It was a good price to buy at since nobody can see the future and the analysis says bitcoin is currently undervalued regardless of how much lower the price goes. For any future purchase I'd wait a little to see how effecting this current market manipulation is before deciding what the bottom is to start buying.
Long term investment is at least a year or two.

Did you want to day trade?
In which case you should be actively buying and selling bitcoin in all dips and rises not just any specific price.

the right question here is that "What is your capacity to keep your coin and how long you can wait" because if you wanna deal with panicking then better to sell all your coins now and remain nothing .
this is not the place for you to keep in risky market like this.

I would advise you mate to please keep your funds inside your folio and forget the market for a while .

I know this is hard but if you will look into what the market manage all this years? then you will understand that Holding is the best tools to profit here.

No, you bought bitcoin at a pretty good price. However, you made the mistake of not researching the volatility of bitcoin before investing, it is very normal for bitcoin to drop in price. Looks like you invest in bitcoin and you expect bitcoin to increase continuously so you can profit. Let go of that silly thinking if you want to continue investing in bitcoin, bitcoin is not a fast food box that we can indulge in quickly. Bitcoin profits come from long-term holding and only those who end up can enjoy its rewards.

that wasn't a mistake mate instead that is a normal way of buying when you fully trust the market you are investing , buying at high shows us how you believe in bitcoin to climb in the future.
just let that 23k price in your folio and only buy more in the coming months or at least this September will make us have a chance to buy more in much lower prices.

You found it a mistake because you see the price went down after buying but if you have see prices goes high, you really be saying "I was right".
But I say it wasn't really mistake, it was just in the wrong time. What you need is hold and wait for the price to rallies back, it actually come someday, just be patient.

Actually, you can have it now. Instead of thinking selling your first bought Bitcoin, better keep it and accumulate more. In fact, that was the thing we supposed to do, "as  wise investor".

I advise you not to panic right now because bitcoin will surely return to the level of $23,500 and even higher. You can try to buy bitcoin again at the current price level and I think it will lower your average buy price. As long as the price is still under $20k, I think it's a good low price to buy but it's up to you because you have to analyze the price you want. We'll never know if the price of bitcoin will ever get back to $15k or even $10k and if it does, I'm not sure it will happen any time soon unless some really bad news hits bitcoin.

Why did you buy at 23.5k? What did you do when the price sits at 20k and lower? But it's acceptable if you are away last time or if you are a new comer in here. The price did drop by 5k. I know it's kind painful seeing it but I think there is no need to panic as panicking can only cause more problems.

Just try to be calm instead because btc price can always recover. If not these coming days or weeks then it can surely occur on the beginning of October. If you want to, you can start adding more coins now in your stash. This price is better than your last buying price so this shouldn't gave you a heavy regret if ever the price drops more.

What you are seeing currently is a "paper loss", not unless you hit that sell button (on which not a good idea). No need to panic as you have no choice but to hold in the first place. Besides, reaching the $23,500 level or higher is realistic. You just need to maximize your patience though.

If planning for another entry, then just buy at the current rate or the moment you think it's a good buy. Waiting for $10,000 or $15,000 is not wrong though but are you willing to wait for that price before taking an action? Regret is really part of the game and you can't avoid doing a risky move.

There are lots of "what if" after you made an action that's why you really need to stand strong in your decision.

No one should decide for you what will be your next move but only, it's you.

Unless there’s no reason to sell, then panicking should be out in the picture. Bitcoin is highly volatile so expect that its price will move upward or in downward trend from time to time. Just stay patient and never check more often the price chart if you’ll be easily affected. That way, you will not be bothered especially when bitcoin price plummeted.

Maybe he is new to the market, the price did drop by 5k is a small drop and bitcoin could also go up to 5k in short time. Since he bought at 23k he should not rush to buy at current price, in my opinion he should wait for bitcoin to drop to 15k or maybe lower then keep buying.

Calm is what he needs to do now, don't panic or continue to buy in fear, uncertainty. Once you are not sure about something, you should calm down to review it all.
If you still believe in bitcoin, prepare a plan for the next drop, if you no longer believe in bitcoin then sell them and get out of the market now.

If you were able to hold unlike the market condition then there is no need of getting into panic. Patience is a must to experience the profit out of the investment. As an user mentioned 1BTC is always 1BTC and the USD value just varies. If you find yourself learning or making your holdings increase, then you can practice trading out of the regular fluctuation. This is risk involved, but the same can give you a learning on money making.

I don't think you made a mistake, so no need to panic and sell it right now because obviously you will not profit. The best thing to do is just hold on it. What if the price shoot up in the next bull run? I guess you have to answer if you are for the long haul or not.


$15,000 would be a good price to average, again, what if the price didn't go down that low? You really have to understand what is your main goal first, be a long term holder or sell right away for a small profit?

There are no benefits in panicking when you are investing (at least that's what I know).
If you panic, you will end up losing your money permanently but when you decided to hold even the coins you are holding are down, you will be only losing impermanently and you can just hold it until it goes up again. It happens all the time so what you need is patience to go up again.

Right now, Bitcoin's price is in the ATL of Bitcoin year-to date so you might consider accumulating more Bitcoin again now that it is in the $19,000 price range again. I will not wait for $10,000 or $15,000 because sometimes, waiting will lead to missed opportunities and for sure many who chose to wait are sometimes the one who are feeling a bit of regret. If you have some cash right now, maybe you can accumulate Bitcoin and just be patient to hold it.

So do you think Saylor also had the wrong strategy when she announced that she was buying bitcoin in bulk between $40K and $50K?

I never thought buying expensive was a bad thing when the price dropped lower over time. You can wait for higher price in the future because the volatile bitcoin price will allow you to make decent profit if you want to hold it long term. Be wise when you own bitcoin, and now think of other strategies on how you can make a profit from it. You can accumulate bitcoin during dip, so make plan well for your future and avoid panic as much as possible.

If you dont know when, just buy every month is really simple and easy to do.   Whatever plan allows you to still be buying in 12, 18 months or however long.  Its usually not best to try and enter a market and decide its now the best price or close.   It could be we never see a price again in the teens but usually it requires alot of volume to ascertain a good level of confidence in pricing amidst upset.  I do think the wider market continues to show upset for this whole year so crypto wont have any easy path.  My judgement of BTC overall is that its been doing well in rough weather

No, you didn't make a mistake, just bad timing. As you can see, it's back to 22k. That's bitcoin! Get used to it.


Consider buying more whenever you feel comfortable. Don't invest more than you can handle, and don't ever panic. Be patient. It's a long-term game. That's how you make money.

This is the most important thing, I think that buying at a price and then the price going down in a significant manner is something that has happened to everyone, but the way to deal with this is to avoid panicking, we know that over the long term the price of bitcoin will eventually recover and the only thing we need to do is to wait and hold our coins, now if someone has some money available and they are completely sure about investing in bitcoin then they can use a dollar cost averaging strategy and try to reduce the average price at which they bought their coins, but even that strategy can be too much for newbies to bear so it is important to keep that in mind.

yesterday bitcoin is up more than 10% and it's back above $21k, you see nothing to worry about bitcoin falling, it falls and then rises is normal
if you don't get scared, keep catching the bottom and buy bitcoin at $19k a few days ago you are in profit
once you have invested, you should be confident with your choice and always keep a cool head, only then can you overcome the fear and temptation in front of you
bitcoin is a long term investment so don't look at its chart too much in the short term, it won't make the bitcoin price go up, it will only make your fear bigger

If you bought near $20K, you most likely about it at 1/3rd of the price compared to the people that invested at the end of 2021 and early 2022. Remember how celebrities were pumping crypto at the time. So many people are bag holding at $60K or so. Many already sold at a loss.

Your price is very close to the current price. Just dollar cost average every week for whatever price we are at and hold on to it. Nobody knows what the low will be or if it was $18K. Sure $10K is a great price however everybody is expecting bitcoin to go there and most likely it'll never reach that price and you will miss out.

I believe you are not detailed with your questions as you did not point out whether you are holding it, buying it on the spot market or future. However, if you buy it on spot or hold it, just seatback and relax, Bitcoin will always bounce back to a higher level than where you bought it.

But if you bought it in future trading, you will have to consider your risk in relation to your account size. If your capital could hold it down to $10,000, then you don't have any issue. If not, I would have told you to liquidate the position on sighting a negative price action on the daily chart. Thankfully, Bitcoin is bullish in the short-term trend and might hit back above your striking level of $23,500 in no time.

There's no need to panic when the price goes down because it's only temporary and the price will go back up. Now you can start smiling because the price has increased to $21k even though it hasn't hit $23,500 or higher. It will get back to that price and higher.

If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

There is no need to panic, we can see, according to the OP's post on September 6, the bitcoin price has dropped to $18k but now, in less than a week, bitcoin has also recovered quickly to $21,000. While this is a small, insignificant increase, it shows that bitcoin could also fall but also rise again afterward, so no need to panic but to sell bitcoin at low prices to sharks.

Every time bitcoin drops in price there will be an opportunity, an opportunity for us to buy cheaply, if we want to make a profit, we must buy when the price of bitcoin is down, not sell bitcoin when the price is down.

Exactly, there are a lot of ways to recover from this, like you Dollar Cost Averaging (DCA) but you gonna need another capital here. That's why when I am buying on the sports market, I scattered my buy orders, or I always reserve some capital just in case the market will go to the wrong side.

Either you are new to this Crypto industry or really impatient dude.
I mean what’s the use of panicking? It’s normal Bitcoins to fall in it’s price. If you don’t know how the market works then better you should avoid money investments.
You are fearing and that too when you have BTC in your wallet. Just do a quick search on the internet about the marketcap of Bitcoins. That is enough to prove Bitcoin’s power my friend.
Just don’t panic always. Hold the coins for at least a month and then see the profits.

I did understand your reason for panicking at the price which you bought your Bitcoin ($23k) and have it dropped to $18k, while the current price is at ($21k). What does this tell you?, It tells you that Bitcoin is a volatile asset and you need to zoom out and stomach the volatility of Bitcoin and look at the Bigger picture, and define your mission with Bitcoin before coming in to invest,Whether

•You are a short term investor 1Mnth- 2 years (weak hands) Or
•A long term investor 4years -10 years and above (strong hands).
When you answered this question, I guess it will help you know what to do at this point in time.
To tell you categorically Bitcoin isn't for short term minded investors ,Because the price which you bought your Bitcoin ($23k) will no longer matter when HODL and Bitcoin gets back to ($60k) ,($100k) and above.

you are still in a good position if you zoom out. a lot of short term investors would panic however if it really goes below $17,000 because that means a break out.

there is still a battle against Gensler (SEC) when it comes to crypto regulation clarity. if this is still a looming threat there is a reason to panic. panic sell results to a loss though. the decision still belongs to him

Yeah, I wouldn't be too worried about buying in 33% of the ATH. That's equivalent to buying at $7k after the 2017 ATH. Sure, you'll experience pulldowns up to 50% off from your buying mark but they won't be as painful or as long.

That means you needn't worry even at $10k (if we even ever get there).

Perfect DCA moves from now on would have seen you bring your average down to 20k if you've been faithful.

I see different view on technical analysis when I zoom out unless you are pertaining to the Bitcoin rainbow chart which obviously not reliable since that chart is created for hype purposes since there’s no such parabolic movement in long term. That chart will obviously result to a big bubble if that thing will really happened in the future. I think we need to experienced first the long bear season since that is the part of the cycle before we can see new bullish movement.

You are right that there’s nothing to be afraid of if we view long term but having your money stuck instead on investing it on low price is much better even if you need to cut loss to do it rather than to wait on a very long time. I think DCA is really the best rather than all in purchase at one price point.

Bitcoin price is not what we can be accountable for the regulation. Those who are waiting for the price to reach the bottom before they purchase. They are not ready, because it can be tomorrow the price fall below their expectation and it's same as the bottom and same thing is applicable for the price to rise in any points in time.

I agree with this reply!

We've seen a similar bitcoin movement from 2011 to 2022.
Bitcoin goes up, then down, then doubles up from the initial down the way I'm writing. It could be hard to understand but keep in mind the longer you hold bitcoin, the better you're set up for the future.

Bitcoin is the main cryptocurrency, and no altcoin can beat it down.

Why are you in the rush?  You can always hodl your Bitcoin until the market trend recovers.  I do not think that it is a mistake to by Bitcoin at $23500, Bitcoin is in for a massive surge this coming bull run though it will take some time.


You can always target every dip as your go signal to average down or if you don't want that type of strategy, you can average down every 500 or thousand dollar interval of price dump.  This might need a lot of time monitoring the market but it will give you a very good chance to average down your entry price.

That's why we shouldn't panic and be able to use the time the bitcoin price fell to buy more bitcoins because after yesterday's decline, the price could recover quickly. And that is good news for us because we can sell some amount of satoshi to withdraw the profit and get back our initial capital while we still wait for another high price. People may think that it is a small gain but if they realize that if they can repeat it over and over again, that small gain will surely grow bigger in the future.

The opportunity to buy bitcoin at a low price will always be there and it depends on how we see it. So we must always pay attention to the market to see the signs of when to buy bitcoin.

DCA is still the best strategy at any moment in the market because they can buy bitcoins at other lows so they will have more bitcoins. If they could do it, they would be amazed and wouldn't think they could do it.

He didn't clear it but I think what he really mean is to panic buy and not panic the other way because if you notice on his second sentence, he wants to know if which price is best for accumulation. We all have our own desired price for buying a btc. Some will buy regularly like per month and they don't care if whatever the price of btc is, while some will wait for a price that was lower than their last buying price.

OP should figure his own once he gains some experience in this field but the best thing that he can do for now is to follow your advice of hodling his coins for at least a month. I think after it, he already knows how to react in different situations or scenarios in this market.

This type of question doesn't make any sense to me. At least, logically it doesn't. Just $5k drop from your purchased price and you're already panicking? Come on, you aren't a baby, are you? There's a reason for that investment caveat – Don't invest cash you can't afford to lose or be willing to let go of. On a side note, you should think of those who bought at peak and console yourself with that. At least, I ain't aware that any of them has committed suicide yet now that price isn't great. BTW, if this would be any consolation for you, Bitcoin is heading back to $23k. Current price is $22,333.51 as I type this.

If you're holding Bitcoin for long term, you're supposed to not panic since it would kill your holding journey. It's up to you on how much the price you start to averaging down, it's either you buy every 2 weeks on random price or you need to wait until the Bitcoin price hit x price. You can start when it's decrease every $1K or $2K, if you wait until the bottom, you might missed the bottom.

OP you don't need to be panic, because you made the right choice to purchased when the price was 23,500k and even though you want to buy more of Bitcoins now that the price has decreased to $21,100k will not cause you panic than to help you to prepare ahead for a massive bull market that is about to happen in the market. I believe we are still in the bear season, which is the best season many people use to buy and hold until the bullish season appear before they can supply to make a good profits from their investments. No doubt, bullish season will appear before the end of this month of September for those that bought when the price was $18,200k to start earning from their investment.

Do you know while some investors when they invest in Bitcoin and they panic to sell when theirs a slight information or News concerning price falling of bitcoins. Their objectives is that immediately the prices is falling they will be at disadvantages indecencies that they funds will be lose, and it keeps to the newly investors. Actually the obligation of long term investor is to make profit not to lose, but on the process holding your coin their is every tendency that your coin can drop or increased.

Why do you consider it a mistake that you bought bitcoin at 23K. You should know that you have got bitcoin at a discounted price as in the coming years you will not see this low price again.

Secondly, i hope you have bought it for long term so even if it reaches 15K-18k, that should not make you panic. Also, if you can't see your portfolio down by 20-40%, you should not be dealing in the financial markets. :)

Well if you looking for an advice like what op did here , it might gets you much more confusing decision to take but hey at least by leaving a post like this you could track back what you have said and thinking what you should have done by now and in the next journey of your bitcoin holding.

$18k you said op? It's getting back up at your starting point , guess what? If you bought more bitcoin back in few days ago at$18k , you might have 20% profit guaranteed already plus your initial capital in the safe point.

I can't really stress how important this is, it is going to be quite a big deal when you consider crypto is not as easy as you imagine it is for some people and how scared they could become. I know it is normal for us but they are not that normal and that is the problem. I believe that we should give them some slack and teach them how to be a bit more relaxed when it comes to this.

Obviously it is not going to be a simple thing but it is not going to be impossible for them to learn neither, so if they are doing a mistake by not understanding 5k drop is not a big drop, then the smarter decision would be just focusing on how to make them better, not to give up on them.

Expect that bitcoin price will never stay up the whole time. It will always have its own lows some time, but this is not enough reason to panic as no matter how the price drops, it will always recover and comes up surging again. All you need to do is be more patient, that way you will never have to be bothered by price fall backs as you never intend to sell at a loss.

Bitcoin is the safest choice for investing in the crypto world, as you said no matter how deep the price of Bitcoin falls, it can always recover.
So if we buy Bitcoin at a price of $23,500 and soon the price drops even more, we don't need to panic, just be patient holding Bitcoin that we have
until it recovers. Even if we still have capital, we can buy more Bitcoin at a much lower price. That's why Bitcoin is said to be very good as
a long-term investment, because it does require patience when investing in Bitcoin. Even if the profit we want to make maximum can be holding
until the Bitcoin halving occurs, because based on the history of Bitcoin movement, every time a Bitcoin halving occurs, usually the Bitcoin price
will reach new ATH. The most important thing is never to think about selling Bitcoin at a low price, it's an action that we will regret later on.

You should have known the price volatility of bitcoin before you decide to invest. That way, you will be aware that panicking will never be helpful at all. However, investing in bitcoin is mostly profitable than seeing it as more of losses. But if you keep on fearing and panicking every time bitcoin price drops, then expect that you will never experience profits as it takes a lot of courage and patience before you will gain profits.

At least to the OP, the price of bitcoin has recovered and pushes back to more than $22k. So maybe he doesn't need to panic for the meantime as he is about to break even at this point.

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

As long you dont sell anything then it wont really be considered to be a loss, if he had made some average down or DCA then he had already made out some profits in short time and thats the beauty whenever

you do know on what to do on a declining market.It wont really be that simple since this would be mainly playing with emotions and if you do really lack up some market awareness.

Now the price is starting to climb up once again and for those who had bought on that bottom are really making profits on short time.It all matters on risk taking since
not all are really that much confident with it.

This recent action is 100% an example to save, print off stick to the wall why you should resist marshmallow hands when you buy BTC.   Dont melt at the first instance of heat appearing, its part of the game you bought into it.   Dont overbuy is a constant message Ive read and understood on these forums for at least a decade and its good advice, dont borrow to buy BTC ever as its just way too volatile and its a bad effect in the end so nobody here wants to see weak hands playing speculator like that.
   Save the BTC graph for at least the last month, great reversal action and quite typical of how it rolls, all over the place :)

As mentioned OP have already made a big recovery. Should not focus just on the decline in the portfolio value, because we have got the same holding in our portfolio and just the value in USD varies. If we have got the patience, then surely bounce back of the value in USD is assured.

this depends on His desire and needing , if he badly needed the funds then there is no other way but to sell now or be loss more in the coming days.

because it sounds like he is not ready to Hold as the post says it all.

what I do believe is that he tries to pull the trigger to earn but the timing is wrong that is why he is more concern now.

Really? As far as I know, if you still consider panicking when there is a sudden fall back of price, then how much more if the price recovery takes long. There’s no reason to panic mate because that will only lost your focus and determination on reaching your target goal. Bitcoin is highly volatile so expect that it will undergo price changes or price decline from time to time. And you should have been aware of that before entering the market.

It is very important that before people take decisions that can affect them economically for years to come they question themselves about why they are investing in bitcoin and what are they expecting out of it? Because quite honestly the price at which the OP bought their coins is a good one and most of us do not really see any problem with the decision, however the OP is worried about it which probably means that he didn't really have a plan when he decided to invest in an asset which is known for its high volatility.

Panic is the worst thing you can do right now. I would recommend not letting your emotions into ruling your investment decisions. If you want to buy more, thats your decision but it has to be a decision based on the long term expectation of the BTC price. Are you hoping to see 100k? In that case a 23k entry point is quite a nice steal. Anything below that is obviously a nice price to buy at, if you view it from a relative standpoint of the 100k goal. So whats the point in panic?

If you ask any veteran here on this forum they will tell you that 100k is nowhere near the goal. And a lot will tell you they will never sell.

Personally I belong to the latter. Bitcoin will be the global money. Don't cash out for worthless fiat unless you really have to.

With bitcoin dropping back to its current price, it gives more opportunities for people to buy it again. While others have bought bitcoins for over $21k, they will have to be more patient and wait for the price to rise again. And hopefully, those people are not panicking because seeing the price is down again. And this time, we don't know when the price will rise again. And maybe we can rest for a while until the price starts rallying again.

Nothing wrong upon  buying at the top since you can still recover it unless you dump all the shit you bought. But if you can't handle the pressure much better if you do cut loss then decide if you want to buy again for second time around on another dip or just take home your money and just learn more information about trading.

Better invest on yourself to be knowledgeable traders so that you will not create more further bad decision which can create more heavy loss.

I think you shouldn't panic even if you bought it at $23,500. Although the price of bitcoin had dropped to $19k in early September, now bitcoin is starting to rise where the price of bitcoin again reached above $20k. It's better for you to hold on for now and don't rush to sell because the bull market will definitely happen again even though we can't predict for sure when it will happen.

don't panic and don't make a loss sale...

the thing you have to do is hold until the price goes up again or buy more if the price goes down to reduce losses when the price goes up. The point is, don't be afraid because the price of bitcoin is very volatile and unstable, so $18k is not the final bitcoin price.

The easiest long hold for BTC will be with the people who know the story on Dollar.   If you think all is good on the politics that overshadowed good governance in currency and fiscal budgets then I can understand genuine fear for any long term hold of BTC.  Hence I always say scale in, its a bumpy road but anyone who knows Dollar has problems long term and the debt is great burden to its ongoing value and usage worldwide even then BTC is a good hedge just dont over do it and dont worry excessively.

People who start to worry about when they just bought when it was recent, make me laugh. The reality is that we are looking at something that is decently doing well enough and that is why I believe that we shouldn't be really worried about anything at all when we are questioning the "fear" factor, fear is something that you feel yourself, same as worry too, that's what you feel and not something you should ask.

If you panic then you panic, and if you do not then you do not, which is why it doesn't matter at all. I believe that we should be focusing a bit more towards what we feel inside, what we want to do, and not what people are telling us to do.

Tell me, what is your purpose of buying, Do you want to trade in the short term or do you want to invest in the long term?
Panic can happen at any time, it should not only be when you see the price going down but there are times when you will start to panic and can't wait to sell if the price suddenly goes up and makes a profit. Panic depends solely on your purpose for buying bitcoins, meaning you need to pay attention to price fluctuations if you want to trade and ignore fluctuations if you want to invest in the long term.

Buy on every drop and hold on, it's been suggested many times. But you also need to pay attention to how much drop you have to consider adding that bitcoin to stack your portfolio, I might consider a $5K drop for example.

Obviously, OP is not really much aware about the high volatility of bitcoin. One day, you’ll see it’s moving up, the next day you’ll be surprised it’s now falling down. So never expect for bitcoin price to stay on top all the time. And I don’t think resorting into panicking will ever help you, it will only make you develop more fears and doubts on bitcoin. Instead, learn to be more patient and hold more, and in case bitcoin price drops more, just focus on buying so you can reap huge profits when bullish season comes.

You did not make a mistake. You just need a year or two in waiting to justify that you made the right decision.  Just have patience my friend.


You can start the moment you see that BTC plummet lower than its previous lowest price.  or to say, buy when lower lows appear.  You an set a target of $100 (may lower or higher) gap between the previous lowest price before buying for cost averaging.

The current situation i have two stages in making an investment, i know market things like this have happened before, if i want to buy bitcoin i will buy two stages, buy now one stage and buy when Bitcoin really hit rock bottom, it's the best move if you do.

the mere fact that you are investing in bitcoin is that you knew already how much risk you need to put and how much you wanted to earn because this is the safest but fast moving coin so buy coins now or buy coins later? that is what we need to decide and what we wanted to attain.

for OP? there is nothing to worry because it will surely increase in the future , maybe not too soon but at least too sure.

if you have bought Bitcoin at a price of $23k, of course that should be a concern,
because right now the crypto currency market sentiment is very bad, and maybe the Bitcoin price dump is below $17k again,
in my opinion, just put a stop lose, if the dump is below $17k and the candle closes at the end of the month shows that,
then I'm sure a more severe dump will occur

Even if he was aware of the volatility of bitcoin it is completely different to read about something than to experience it, it is very easy to think that you will be able to deal with the volatility of bitcoin but it is when you actually have to see the value of your investment going down when doubts begin to surface, I hope the OP does not sell for a bad price as he has bought his bitcoin at a decent price and the only thing he needs to do to obtain some huge profits is to hold his coins for a few years.

When emotion do kicks in then this is something a really very hard to control even if you are really that aware on how this market behaves which we are just humans which it is normal to have these kind of reaction
whenever we do really experience these sudden declines.If you are on a situation which you had just recently bought and then the price dips even more then it would really create that kind of feeling which you
would really that panic.Asking out whether you would DCA or would just simply sell for cutting loss(which is a decision to make).Its better to hold no matter what because those negative numbers arent still realized
which means that you arent still losing money since it was never been sell which does simply imply that accumulation in much cheaper price is suggested.

Bad falter so far, we are constrained by the 2 day average the only hope is that weight is lifted and we surface higher like a submarine blowing the ballast tanks :p    However we have dipped below various measure of support today and it looks poor, but sure enough we stuck to this MA ceiling as a measure like a fly upside down hence perhaps  it is short term as a 2 day average might well be.
  18973 is midway between most negative yesterday and the high at night, needs to break the negative soon.

while it is true that this should be a concern yet expecting the price to fall that bad is too soon . imagine that the lowest price this yeah is 17k and you want this to fall down more ?
maybe this is an overstatement for now till it happens.

exactly , but I think this is far late? as he had put a stop loss when the price is still at 20k above and not when this low already at house?

We may have to wait for next month tough, at least in the first two months and see if we can break past $20k. Currently and leading to the end of the month, we're lucky if we can get back to $19k. So I guess the OP is still in panic mode because his portfolio is losing in value.

Nevertheless, this could be a great opportunity for him to really know how the market operates in bear market. You buy during dips and just continue to DCA as long as you have the money to invest. And in the future he can go back to this thread and says the did the right thing.

At the price of $ 18k you can increase the amount of Bitcoin balance. Then you sell at $20k, and buy again at $18k. In no time the loss amount you bought at $23k will be covered by the balance you bought at $18k. But don't sell all of it, just hold some of it until the Bitcoin is actually pumped.

It is true that this time isn't perfect for selling. It is time to increase our portfolio by buying more Bitcoin. I hope Bitcoin will rise to grow again within short possible of time. I'm expecting that we will be able to cut good amount of money in the early November if we buy Bitcoin at this current stage.

Invest wisely, you don't need FOMO because prices are currently low. You don't have to feel left out to invest because all decisions must be thought out wisely so you shouldn't ignore the risks.

Investment now or later does not matter because the actual price of bitcoin will still fluctuate. It's just that it might be good to think that now is a good time to buy and accumulate bitcoin as the price is still at 70% below ATH. I will be placing more bitcoin during this bearishness in the portfolio, this will provide many opportunities to take profits when the market recovers.

This other coin should really be chosen wisely too in my opinion, because not all other coins besides Bitcoin can be good when the price of Bitcoin starts to increase. Let's say in general the top 20 coins in order of cryptocurrencies are good ones to buy at this point, but I've seen Bitcoin more often than not as my first point of reference when buying another coin. Because other coins still have an influence on the movement of the Bitcoin price, so putting more money into Bitcoin is still a very good choice in my opinion than more into other coins.

Not that I think it was a big mistake that needs to regret but it was accepted being in the wrong timing because we never know if the market will pump after buying. Because even if you are good in TA, sometimes you fail and this means that the market is unpredictable. You will just get worried if the price of Bitcoin will reach $10k but as it was still above it then, I suggest make yourself calm and have some space in crypto. Better not to think about your investment as this time as this will certainly bothering you and might think about selling which could make you lose.

I agree, there is a good chance that we could go back above 23.5k very soon, I feel like we already reached those levels since OP started right? I mean it feels like it did reach those places. At the end of the day bitcoin is a volatile thing and but we shouldn't be really worried about the current situation, just look at the volatility and how it could get you to a higher level and that would be something profitable for all of us.

I want it to be something good and as long as it is good, we should not be worried because bitcoin has never let us down. If you are ever worried just look at the past crashes and how all of them recovered after a while.

If we are just about to get panic after investing in Bitcoin, it is supposed we don't try it. I assume that you are already aware OP about the volatility of the market which we sometimes experience declines and abnormal market trends. As you are here, better make clear of yourselves and get ready to face such changes. The market will dump but it rises back naturally. If we can manage to hold our coins, no losses will happen to us.
That is why practice yourself OP to be strong and make a habit of it. And manage to control your emotions.

I often tell crypto users in the speculation section, the current crypto market is a little difficult to predict, especially Bitcoin, we are all aware Bitcoin goes down and up all the time, the problem is the lowest Bitcoin price.

However, if the current situation, I can say, maybe right now it's better to have two factors in investing, this is so you don't panic.
What I mean: you must have a goal of the final price of your investment to determine the price of Bitcoin in the future, for example: buy for $23k aim to sell for $50k in a certain time, another thing is don't buy Bitcoin all your assets at the current price, buy half and buy again when Bitcoin is really cheap, according to your beliefs.

It's been said before but I always find it worthwhile repeating often: DCA. It's dumb, it's pain free, it gives you absolute freedom to go about your life and make yourself useful without getting lost in the panic of speculative markets, most importantly, it works.

23k to 18k, that's really nothing. If it makes you panic, or think of panicking, highly recommend getting out now and save yourself some worry. Just deal with the regret at next ATH ;)

Of course, not coming back here since you posted, makes me think... liessss *hiss*

This might work, but no guarantee. In fact it might only get complicated for the OP's position, because he is even worried about the $23k buy and then you need a separate fractions of Btc to cover the loss? No, it's not even a loss as long as he's not selling any of those he bought.
DCAing would definitely work for him. Buy at any given entry points. Don't chase for what you think your loss, let Btc cover it for you, look at the historical data and calm yourself down.

$23k to $25k is not a problem because in my opinion that price can still be achieved in the short term,
especially if you look at the data for October bitcoin is always bullish so there is a possibility that $25k can be reached again next month,
just hold on and don't sell cheap if you don't want to regret.

It is important to try to not create expectations that are out of place for bitcoin, while October has been historically a good month we know this has no effect at all on what it may happen next, and it is possible that at best we could move sideways during the upcoming October month.

So it is important to keep our expectations in check, that way if things take a turn for the worse we will avoid panicking and selling our coins for a bad price.

Historically in bear market, even October is one of the worst. So I wouldn't put too much expectation next month, it will be flat again as I expected. Not that I'm negative about it, but that's what happen in a bear market. When we expect that the market will have some good month, it will turn on the opposite.

And with that, I do agree that it's important not to put too much expectations this month as well. $23k->$19k-$20k might be as bad as in the beginning. Nevertheless we can't do anything but to wait till the price bounce back to even levels.

Precisely, there is success if we are too impatient and worried about every drop that we see. As the market prices keep on changing from time to time, we gonna expect such a terrible drop but because we trust Bitcoin and we know the capability of this project to recover, nothing we have to think about it. I think, even 100 years from now the same story we are still able to hear - worries are still in our minds if we keep thinking about the negatives. It is a need for us to change and OP must have to stop bothering himself because of the drop or else, emotions will tend to grow fast.

We should not set too many expectations to avoid being disappointed too much later, but we as investors should always have an optimistic spirit, sometimes optimism will bring us excitement and stay awake to hold bitcoin. For me, October is usually a better month for the market, I do not dare to confirm that this October, the market will be filled with green. But personally based on my analysis and a little bit of emotion in it, I believe we will have some rally in october and the price can go back to previous $25k to 30k la when there are more declines.

Well since I think we are in a Bear Market but I still think it’s very likely that BTC will continue to rise until the end of the year you are in no need to start to 'panic'.  What I tell myself is only time to panic when we see a price point of below 15k which has not been seen yet.
If you are one to HODL your BTC and not sell them for a quick profit you will be ok in the long term if you do not 'panic sell'.  Just dont look at your wallet thats what I do when I am being stressed from the price drop.  It will go back up we all know this.

23500 as a buying price isn't a price to panic. Think about this, what can be worst price Bitcoin can drop? That's mainly I think 15000 or maybe like 11-12000 and its extreme low. So max you will lose is gonna be %50. If you wanna cut losses you can, especially around 14-15k levels so you wouldn't lose that much. But if you can wait in patience it will return back to 40k price levels in near future.

You are pressuring him, yes we should think the worst case and if everything turns out to be true then we shouldn't panic. but with the thought that selling when bitcoin drops to 14k-15k is not advisable at all.

We don't know if OP is using money to buy is idle money or daily spending money...but if it's idle money my advice would be that the market can go bad but one thing you need to remember is that even if bitcoin goes deep below 10k bitcoin will still rise again. There is no forever bear market and the bears will at some point give way to the bulls. So always trust and hold your bitcoin in any situation, OP should only sell when it is profitable.

Maybe you are one of those people who are like that but you already learned your lesson and you are now giving advices for others to avoid the same mistakes as you did though I think that having an optimism can still be link as having an expectation.

You are are optimistic to buy and hodl a coin because you are expecting that your coins will grow huge in the future but I am with you when you say that October is a better month than being the worst because I've also witnessed some years where the price starts to get better by the time the month of October comes. Even the price just cross $25k this last 3 months, I think that's already better because at least we know that btc still tries its best.

Bitcoin is indeed the safest coin to buy, because several times the price has fallen very deeply, but Bitcoin can always recover and rise again.
So no matter how bad the market situation is that can make the Bitcoin price drop very deep, we don't need to panic and sell our Bitcoins at
low prices. Due to the wrong decision to sell Bitcoin at a low price, however we will only sell Bitcoin when the price goes up. This means that
if we haven't made a profit or reached the desired price target, we should never sell the Bitcoins that we have. Bitcoin has proven to be very good
for long-term investments, meaning the longer we hold Bitcoin, the profit that we generate will be even greater. That's why when investing
in Bitcoin we must always use extra money, and never use money for daily needs. That is so that we can be patient holding Bitcoin in the long term,
without needing to sell it when the price of Bitcoin falls very deep.

The best investment you can do in Bitcoin is to buy whenever the price cross twenty thousand (20k) in price and hold for long term investment, because it's very obvious that after this year Bitcoin will experience massive turn up, now everyone is exaggerating of the price if it's going to rise or fall and it's what do contribute to massive panicking of selling bitcoin when it's experiencing degradation in market circle.

If you know how volatile bitcoin from the start, then you should never end up panicking because even if its price suddenly drops, it will always manage to recover in due time. That's how bitcoin works. And since the market is still in bearish season these days, then always expect that bitcoin price will have more chances for decline, but never see it as a threat or whatsoever, but learn to take advantage in buying more bitcoin as soon you see opportunity to buy.

Self awareness and acceptance would be the key because these things would really be making yourself prepared and aware on how this market behaves or works.You wouldnt really be ending up on freaking out

just because of volatility.If you are someone who had come prepared then you would know on what you should gonna do.These type of questions are usually into those someone who had just stepped their foot

without even realizing on what they are dealing with.If you do know on how this thing behaves then you do know on whats next.You wouldnt panic and freaked out but instead
you would really be doing that average down.

OP, like most of the advice you've read so far - then I can really assure you not to panic if the price drops any time. You will not lose your assets, only their value is calculated in the estimate to fiat. Just calm down and think of additional strategies so that you can maximize your profit opportunities if the market recovers after some time.

Bitcoin is known as a potentially profitable asset for its long-term investors, so you may need to accumulate if you have funds in reserve. Accumulation is an additional plan you need to consider instead of panic.

Market conditions have improved several times since the price dropped $18K. The increase is not very high, only a price change of $2k, or with a price increase of $20k, then you can already make a profit. But if you just leave Bitcoin in your wallet, of course to get back $23k, it will have to wait a long time. Because the current market conditions are bearish.

And if you're just waiting for the price to recover to $23K I don't think it's too far away for Bitcoin to reach even though these price levels have been rare lately. But to wait for that level to come again in Bitcoin I don't think it will be too long if the next increase can occur from $20K. And for the matter of waiting long or not, it also depends on the increase in prices in the market. Because the longer it went on, obviously the longer one would have to wait for it.

If you could play with the price movement or volatility then you could actually make profits and able to compensate or patch up with those loses which it wouldnt really be needed for you to wait up for a

very long time before you could really break even with your purchase price but if you cant bare up with the risk or not able to play with those volatility then you could really still have option on not to

do something or anything but just simply wait for the recovery.Selling on loss is never been worth, we know that it wont be that simple whenever we do see our portfolio
is going down but you should really make yourself have good control of your emotions.

Wait , How could you call this as  Mistake? answer this question first " What is your Plan for Investing"? are you  term or daily base trading? because this will distinguish what will you act in the coming days.

you should have add when the price reached 17k because that seems to be the lowest price of this year.

The price has dropped to $18,000 levels already, then bounce back above $20,000 and now we are in $19,000. So it's not that huge decreased if the OP bought at $23,000, just a few thousands dollars and if the price goes sideways then just hold on and don't sell.

Again, it might be take several years to recover, but once the market enter the bull run, you won't regret your decision to hold or even buy at the current price.

I agree with you buddy, that to be able to reach the price of $ 23-$ 25K will be achieved in the near future.
but will it be achieved in October? looks like it will be hard to come by and it will still take a long time, especially now that we are entering a crisis that has occurred in many countries which will obviously have an impact on bitcoin as well.

if the funds used by the op to buy bitcoins are also funds that will be used for short trades, obviously you have to buy when bitcoin drops again, so that when bitcoin returns to the initial buying price, you will get a hefty profit.

but if you still have other funds, there is no need to panic, because the losses experienced are only a matter of time, it may take longer, but remember the halving period even though it is still quite long, but it will definitely happen and we know that that's when bitcoin will increase.

Unfortunately for the OP, the last several months, we don't see any movement at all. Although now the price was over $20k++ but still very far from his purchase of $23,500. Nevertheless, if the OP is really that serious in investing here, maybe a good DCA (if he has used it already), could be a good strategy to offset his previous buys. And this might sound be redundant, but this is another lessons learn here in crypto market specially on how we enter the market and what should we do or what will be our mindset in this kind of situation, just to remain calm and continue to invest and hold.