Bitcoin Forum

What advice can you give those who buy Bitcoin at 19k in 2018? Because I still have friend who got in at that time, now he doesn't have the mind to sell and take his loss, what is the best advice to pass unto someone in this situation??

Well, I believe your friend decide to buy bitcoin after he see bitcoin in major pump in 2018. IMO, buy bitcoin because of FOMO is not good, especially buy bitcoin near halving. It's why he should know, just invest only what you can afford to lose.

It's hard to give advice for this case, especially if your friend is not a small investor... he will got much loss. We can't know in the future, how much bitcoin will be worth next. Does it will reach new ATH for $100.000 (https://cointelegraph.com/news/anthony-pompliano-believes-bitcoin-price-climb-to-100k-has-started) or it will crash bellow $1.000 (https://cointelegraph.com/news/bitcoin-price-will-crash-below-1k-in-2020-zengo-ceo-jokingly-predicts) ?

But it's really depend from your friend, I believe he will not sell it even Bitcoin in the worst situation because he's really afraid of losing money.

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Why this thread in Altcoin discussion? Move to Bitcoin Discussion

It might take a long time for Bitcoin to grow that higher again, my advice is to keep holding, nothing is impossible I'm crypto space, your friend is not at loss until he decide to sell his Bitcoin, if I were him I will hold on

So your friend already bought BTC at ATH... It would be an unrealized loss if he didn't sell it yet.

Here's what he can do to minimize the realized loss:
(1) Do Nothing
* Pray so BTC price will be higher than 19K.

(2) Trade
*Sell at high, maybe 10K (realized 9K loss);
*Buy at low, maybe 8K, so he has 1.25 BTC;
*Sell at high, maybe 12K (gain 5K profit).
*His loss would be only 4K.

(3) Buy More
*Buy more at 9K;
*When the price is 12K, his loss (-9K) would be offset by 3K gain.
*If he buys 3x at 9K, he will win his money back at 12K.

The strategy (2) and especially (3) involve risk so that he may lose more than 9K.
*not financial advice, DYOR & DWYOR

Just hold your ground or accumulate more Bitcoin along the way.

The journey of Bitcoin to reach its new ATH is bumpy. Many ups and downs will happen but in the end, many are expecting that the price of Bitcoin will be higher than its previous ATH in 1-2 years (based on the past halvings too). If you know how to trade though then it would be better but overall, accumulating more Bitcoin is the best thing to do when you bought it at its peak. Just hold and don't let your emotions eat you. Just tell your friend to hold it for a long time and buy more.

A smart move would've been to lower down their average purchase price. If they bought $2k worth of BTC when it hit $19k and bought $2k more when it hit the low $3k, today they'd own approximately 0.8 BTC so about $7.8k. That's a profit of $3.8k overall.

This "I'm waiting for it to get back to $20k" I believe has a much lower chance to turn into reality than the strategy above. If you lower down your average purchase price, you may enter profit without even knowing it.

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Even if you bought $2k worth of BTC at $19k and only a quarter more (so $500) at $3k, you'd be today on approximately $0 loss as you'd own exactly around $2.5k worth of BTC. Still much better than a $1k loss.

The fact that they're still here and haven't sold with a loss shows they have some potential. Most people would be long gone with a loss of 75% or more.

I would simply stay put and wait as long as I didn't need the money. It took me three years to get back in the black after 2013 and once it did it all seemed like a bad memory as it left it firmly behind.

No one has any idea of if or when it'll return to that level but as long as it remains above ground there's a chance of it happening. Selling when interest is low doesn't really make sense and things are still quiet.

Firt of all does your friend accept a recommendation that be needed again another funds to leverage his loss or he just want a suggestion to cope up with to divert his loss?

Suggestions

• The first thing is hold wait and relax until it goes back to 19k
• Used his bought BTC on platform that has staking rewards/lendingor any sort of payment plan that has interest.
• Trade and ride the TA and FA until you got your capital back

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_{These are my suggestions without adding any funds. But the first one is the best idea especially for beginners. I presume that your friend just drag down to invest due to fomo.}

Tell your friend to hang on! Hang in there, mate!

1. If your friend does not need to sell it, he should just HODL it. Sooner or later we'll get back to that price and even beyond. All we need is just a little patience, says Guys N' Roses.

2. If your friend is already bored HODLing while waiting for that $19k to come back, interested to play with the price a bit, and willing enough to face some risks, he could do some trading, sell high and buy back low. For the next week or two, we could probably see Bitcoin hitting $10k and $9k a few times. There's money in there. Of course, it is easier said than done.

He's just doing what I will probably do if I'm one of them. The advice that I'd tell is if he still believes in bitcoin, let those bitcoins that he bought at ATH at the side.

And while he's waiting for the right time to get back his capital gains then, he should start making up another batch for buying while the price isn't yet peaking. In that case, he's going to have profit from the new set that he bought while waiting for the ATH to come.

First advice is don't dwell on the past. He could have sold during the long price drop and then bought back at a lower price - but that is all in the past now, I have made similar mistakes myself, all that we can do is learn from them.

Bitcoin remains volatile. There will be plenty of upswings and downswings in future. Your friend can still sell high and buy low, and either recoup some money or else increase his holdings. There is of course a risk attached, but the biggest mistake in trading is to end the trade too quickly. You could sell BTC now at $9.7k, then the price rises to $10k and you panic-buy back and lose some coins... or you could instead assess whether bitcoin might return to say $9.5k at some point in the future, even months or years down the line, and hold until that point and make a profit.

If he doesn't want to trade, the other option is dollar cost averaging. Buy more at a lower price to reduce your average entry price.
Say you bought 1 BTC at $20k, now buy another 1 BTC at $10k... your BTC now cost you on average $15k each. Appreciate this is an extreme example, and he may not want to throw so much more money in, but it's a valid option for someone who believes the price will increase from its current level.

I'd rather forget about that money altogether until good times come. Nobody believed it could go to $20,000, well, they were wrong. Hope is a bitch, but I'd still stick to hodling

this a psychological game. Okay, people bought it in 2018 when the price was $ 19000 and they are at a loss, right? and these people should ask themselves the following question:

- These people who bought in 2018 for the price of $19000 are in urgent need of money?

- When will these people need money?

after answering that question and if the answer is that they don’t need money then what they should do is the following:

Wait when the bitcoin price drops a lot (if it drops a lot) and buy when the price drops a lot, then wait for the price to go up a lot and sell and repeat the same process of buying low and selling high

f they do that they will make a profit and if one day they sell the bitcoins they bought in 2018 they will not have losses because they already have big profits with the trade they made. this I call Plan B


I will summarize what I wrote above:

you bought us $19,000 in 2018 and the price dropped to $10,000 then holding.

The price then drops to $ 8000 then you take your money out of your pocket and buy for the price of $8000 and sell when the price is $10,000 and wait again for the price to fall, in a nutshell: buy low and sell high up you have a lot of profit to cover your loss of $9000

The biggest problem with this is to decide when to buy more. It's easy now to say that he should have bought more BTC when the price was $3k, but how could anyone have known that it is the bottom? The price could have easily drop a little more. Today we all know it didn't, but who knew back then? No one. That's the biggest problem.

On top of that is the sign of the market that it is getting good after the halving phase, anyways he did not sold it yet right? So what he needs to do ( if he is not really in a hurry or need the money so bad) monitor the market at least once in a while, have an application that notifies the price of bitcoin. But to be honest, bitcoin to reach its ATH is quite difficult these days. Hopes up!
We all had a bad experience in the market, it will be a lesson for good.
As I said, reaching its ATH is quite difficult, If I were him I'll just target the lowest possible loss like selling in the mid $15K to $17K ( if it happens)

The price of bitcoin is prone to a massive drop from time to time. Bitcoin  have witnessed more than 60% drop in their value on the market. This has happened to bitcoin about that times. Bitcoin price crashed down into the $4,000 because of the highly leveraged nature of the cryptocurrency market.

HODL can be an option and pray that Bitcoin can reach ATH $ 20k in 2020 or 2021.
It takes extra patience and mentality to hold Bitcoin purchased at $ 19k in 2018. If you still have more funds, you can buy twice the initial capital. it will cover losses and make a profit when the price of bitcoin returns to $ 20k.

Don't cutloss if you don't have another strategy. Cutloss is done if you want to trade scalping to recover losses quickly.

They are holding it for years now so why give up. Continue to hold.

Hold it more for long or basically after the crash, they should already considered those as loss so that when the time comes that Bitcoin reached again the $19,000 they will bring up back to excitement.

What have they done after the ATH? Did they buy to acquired more bitcoins at any price level, or they didn't do anything until now and just waiting for the rocket?

I think your friend has 2 options.

1) Will wait for Bitcoin to reach new ATH
2) Increasing the number of BTC owned by Altcoin trade.

These 2 options are the only partner, that is, your friend should not return to cash right now.

My advice is to just wait and sell in the nex pump. We all know that bitcoin is heading to new ATH but when? that's the question. It could be days, weeks or months
He just should be patient

I do think the following qualities can help you long way :-

1. Patience , wait it will all be good !!

2. Timely checking the prices of your investment

3. Always be one step ahead and read the news from trusted sources

4. DO NOT FOLLOW anyone!! Not on Twitter , not on YouTube.

5. Make decisions wisely , think 10 times before you sell or buy and take into consideration how it can affect you in the future.

6. Always keep track of your profit and losses so that it does not get messy in the long run .

7. Do check for scam accusations periodically if you are investing in Altcoins or a new ICO

8. Keep some of your amount in a exchange wallet downloaded offline so that you can actually sell or buy at the right opportunity , Cryptocurrencies can change their prices drastically , you don't want to wait for your money been transferred and such

9. Make your local community with respect to cryptocurrencies and all so that you can actually do the trading locally without intervention

10. Do not buy BTC or any other cryptocurrencies from individuals you don't know about or third party sites which are not recognized . Always check the reviews .

Hope that helps .

Hello everybody. I believe that many of us were very impressed with the incredible growth of cryptocurrency, even if we take the price of one dollar a few years ago, and the current price of 9500 dollars, then this is very cool. Not many came here to buy bitcoin for 9,500 and sell it for 11,000. We all want to multiply capital by several thousand times. If you trust the forecasts of Bitcoin prices of $ 100,000 or one million dollars, it makes no difference whether you bought it for $ 20,000 or $ 5,000 ... I don’t understand those who doubt it, you came here to take extra profit, so be true to your dream. Buy whenever you can, buy for 9,000, for 15,000 for 20,000. I believe that when bitcoin will cost one million dollars, you will be very sorry that you did not buy it for 100,000 dollars. Perhaps this is a simple demagogy and this makes no sense, but there is no sense in the fact that you bought bitcoin for 19K, and you regret it. We are making huge strides towards the digital economy - do you really have any doubts about the rampant growth in demand for bitcoin and, ultimately, that the price will be much higher than 20K ?!. Personally, I have long been rid of any doubts - I I give the best advice, buy bitcoin even more.

I agree with this. If your friend can manage not to cash out his bitcoins, better hold it. He will incur huge loss if he will sell it now. However, buying more is his prerogative and if he is willing to take another risk. But if I have the funds, I will also buy more as I strongly believe that in the coming months or years, the value of bitcoin will continue to increase.

That's a hard choice for him though but I think your friend has a lot of options to choose that's why he thinks selling it now is not an option at all. Maybe the amount of bitcoin he bought is not that high or he doesn't really care if he loses it or not. so it's better for him to leave it there until the price will spike again just like last time. This is why we always chose to invest something that we will have no problem later on whether we lose that investment or not. Your friend is doing the right thing all you can do is cheer him up.

As long as your friend is not willing to sell at a loss then it is positive, some people jumped into bitcoin after hearing about a rally and they did not even think about anything before investing and got roasted bad, he could have averaged the base price if he would have purchased when the price reach bottom and i expect he did not invest further, either hold for a couple of years or try to average the base position by investing whenever the price goes down.

Why would you think that he should take a loss? As an investment advisor by trade, one thing I stress with everyone is technically you aren't losing anything until you sell.  Yes your account value is down but you still have the same amount of shares (coins)..so you still have the ability to grow your value back.  If you sell then you don't.  The silver lining is if you do sell at a loss, you can use it to offset some of your investment gains.

HODL.

Literally, they aren't still in loss unless they will sold it. Your friend managed to bear the hard and painful period of seeing bitcoin losing its value so why this should be a problem. If I'm your friend, I already assume that as a loss back in 2018 and will just remain those coins untouchable until now while on the way, I do some accumulation at any chance.

Unless your friend needs money, to the point that it will be used into something really important, that's the time selling should be considered. But if your friend can extend his patience and not necessarily a big deal to just continue holding it, then much better.

Bitcoin can exceed its previous all time high even getting at $50M dollars worst case originally from $200M theory if the stock to flow model where to correctly predict Bitcoins price pattern.
So i suggest to have patience and mental strength to hold because you will surely be rewarded and profitable in the long term.

So if he doesn't want to take his loss then what is the next step he do? ask it to him since there are so many decision that needed to think about, If he still funds to trade then its best to baghold those while waiting for a pump since there is a halving occuring and might he can recover his funds when it reach to ATH but if he doesn't have any funds left the best decision he can do is to cut loss and recover his money little by little by trading on the current price level.

What option do they have? To lose or to sustain? If I were to choose, as long as I have enough funds for what I need to survive, I will not withdraw my investment as long as the market price is equal to the day when I bought it. Or else, wait further to see if the market will continue to increase hoping that I will get a profit out of it.

This is a long term decision, if we invest that much for bitcoin with 18k dollars, we should extend our patience us well. Selling it will just give us half the price of what we've invested so think twice.

if the money he invested is still not needed why not hold until the last moment. I mean hold the coin until it reaches 19k or the price he is comfortable with. also, halving just happened so there is a chance that the price might increase(but also might decrease) this year, next year or the next year after that and so on.. but there is no guarantee. but in the end, it is still his choice what to do with his money.

He either continues to wait or he takes the loss like that. How do you buy Bitcoin at $19,000 and the price keeps decreasing and you do nothing about it till now? So, there is nothing to do apart from the two options I have given, but if I were him I would just leave the coins in my wallet for a long time.

There are already experts predicting that the price of bitcoin might reach $70,000 this time around when the bull run starts. So, he should leave the money there and have patience till the next bull run. At least he will learn to only invest what he can risk in Bitcoin. It's just like my friend that kept bugging me and asking if he should invest in Bitcoin, I told him straight that there is no guarantee he will make money, that he can even lose it, so any he's investing there should be the ones he's ready to lose.

That's good stuff.

Another of the main things anyone can do is attempt to get a handle on their emotions. That's the number one thing that destroys people in this space.

If you do the opposite of what your emotions want you to do you're likely to finish up vastly better off. The hard part is managing it and very few can. If a ATH buyer is still here then they might already be doing better than the average person who would've dumped at the absolute bottom.

On the other hand buying at the tippy top is a classic FOMO move. At least it hasn't cratered completely and they've had a long time to process things and be better set up for next time.

Going through a complete boom and bust cycle is massively beneficial to your attitude to everything. You see things much more clearly the next time around. If there was a way of injecting that experience into new arrivals there'd be far less ruination.

I am also an investor who bought bitcoin at the ATH price, and what I have done is still holding bitcoin until now. As long as we haven't sold
the bitcoin that we bought at the ATH price, we haven't lost anything. Therefore my advice to investors who buy bitcoin at ATH prices, don't
do anything. Wait until bitcoin reaches the price of $ 19k again, if we really do get to know bitcoin. Definitely sure bitcoin will return to the
ATH price, now this is just the patience we need.

I think you are not alone holding bitcoin that you bought in 2018 because I guess many others still hold their bitcoin. At these situations, you can hold or trade your bitcoin, and that is your choice. If you sell it right now and you don't trade, you are making a loss, but I don't know how big your loss. But if you trade, you will have a chance to recover your loss slowly, and that will depend on how you can analyze the bitcoin market. And if you have skills in trading, I think you can make a profit in bitcoin or usdt so your chance to recover your loss before will be bigger. And who knows, you can make more profit besides to recover your loss.

Yes, he can wait until the value reaches in break even or above but already a long time have passed from 2018 and the investment is laying idle. Still it is uncertain when this spring will come. So, your friend can take another strategy to recover his capital. First he has to engage in trade. He should buy different tokens and coins with the existing bitcoin and make trade in different platforms. From trading he can make profit and recover loss. But before trading, he should make himself skilled on trading otherwise all the investment may loss.

it was 2017 not 2018.
and my advice is that these people should join the lottery more often because someone who was able to catch the price that only happened withing a very short time (which was a matter of days) and buy bitcoin there whereas bitcoin have been around for 11 years has a high chance of hitting the impossible targets so they may have a good luck in lottery :P

This is not the time to sell if he has been patient since 2017 December and 2018 January. Traders are expecting that price will pump again after the halving has come. So wait and don't keep looking at price every time. You can also buy some coin now if you have the money so you make profit when it gets to $15k and you log out the both.

It's quite unfortunate for anyone who bought bitcoin at > $18K.  A run like that is hard to come by. I have two suggestions though

1. Buying Bitcoin at lower prices

Sometime in late February/ early March, Bitcoin dipped below $4K  settling around $3.7K.  Buying at the price level would've amounted to over 150%  in profits.  A profit margin like that would've reduced the losses incurred in 2017/2018 a great deal. 

2. Continue holding:

While it seems like bitcoin might never hit the ATHs anytime, it should be noted that the market isn't predictable. Today, it's at $3500,  next thing you know, we're talking about $10K.  Bitcoin will probably get to its previous all time high and ultimately surpass it at some point in the near future. It can be frustrating and depressing to constantly check prices and not seeing it anywhere near your desired price.

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There's a popular saying that you don't really lose until you sell.  Since he has been holding since 2018, selling now doesn't seem like a logical option.

And people looked upon those who bought at $32 in 2011 or $1200 in 2013 with great pity for long periods of time. Until those who arrived later started to dream of buying at those prices.

It's all about your appetite for time. If you're a believer and you're in no hurry you have a chance of looking like a champ a while down the line. There's still a lot of growth left, a lot of people yet to comprehend it.

Even when it has reached saturation and literally not one extra person will ever get on board the deflation will be starting to get into swing.

The way you deliver the post meaning your Friend is capable of letting the money inside crypto and He can even wait more longer
 right?because he has been Holding this Bitcoin for the last 2 years and more yet nothing concerns Him.

My point here is Why you seems to be affected when the Owner of the currency is chilling and willing to wait for the next years.

actually i have also some part of my Holding that came from 2017( but small amount only because i did sell most of it in
December that year)

and i see no problem with it as long as i can afford to lose the said amount,though of course i cannot promise not selling in low
 if there is emergency that happen along the way.

Your friend desperately needs money: Your friend should have sold his stash as soon as BTC reached the $13K or $14K mark later on since he could have kept the losses to a minimal.

Your friend can afford to HODL: He needs to continue HODLING his stash since majority of the cryptocurrency community is confident that BTC will reach a new ATH in the near future after the recent halving event.

I like the term you used to explain and enlighten some misconceptions about purchasing Bitcoin at the peak.
Forgetting how Bitcoin was valued 10 years ago. Just like what you said in your first statement, people might be looking to buy at $20,000 in the future because Bitcoin might become 5x or 10x expensive than today's.

As long as the OP's friend won't try to take back his invested money in Bitcoin even if it means he'll be lossing some to cover possible huge loss, I guess he'll be fine, just keep it holding for a few years now.

NO. If you want to earn some satoshis, just earn it by completing micro task (faucets) here https://bitcointalk.org/index.php?board=212.0


Edit :
There is still many legit faucets, you can check and verify it in that's board. If the OP of the thread not get negative feedback and doesn't have any problem with the sites, then it's legit. You can also get a job in real life or freelancing.

But the most of these.. as you said.. micro task (faucets).. are frauds and scam...

So why are you telling me to go there?...to lose more..?

If you know anything specific, about a specific task, please help me
I do not have any problem,  I you know any other way to make profits please tell me

I just asked

Tell him it is a good learning point.
Although I think he knows that already.
It had been 2 years and his thoughts might still be there from making an error.

Do not ride the hype. It always happen.
Next time do learn something before jumping in.

What do you mean? Could you be more clear?

I also have a friend who bought his 0.1 bitcoin at $19k year 2017, because of fomo. He buy bitcoin to join the investors who are earning bucks at that time, but unfortunately the price of btc slowly turning down early of 2018. He already sell his bitcoin at $14k last year. He cant wait longer anymore so he sell his btc and quit.

To those who buy their bitcoin at high price, dont sell if you dont need the money yet. There's a chance to recover your capital or gain from it if you wait and stay positive. Hold and forget for a while the current happenings on the market to bear waiting the right time to sell.

how do you know that they are scam ? you already tried them  ?  and why your afraid to get scam when you just need to work on them without the need of depositing your own money  . he never said you go there just to get scammed but the guy was trying to help you   .  thats already specific and he cant just look for an actual site for you because that is already considered as spoon feeding   .  you should explore more for your self man  , we all here started as noob on here but eventually we do learned alot too  

The question is that can they hold? Some of them might find it worthy of holding because they didn't make a huge investment even though it is a huge investment it is part of their saving that wouldn't bother them. They can hold and hope for good return, bitcoin has potential of passing it's all time high but that will take a long time. If they can hold let them hold if they can't let them know how to trade to accumulate more of bitcoin.

We hope they can hold as long as they can because if they sell it right now, they will regret in the future, especially if they know that the price increase so high. That happened to some of my friends. They sold their bitcoin before the price hit $20k, and they don't have any bitcoin at all. At that year, they were shocked to see how it can be the price hit that such high price. They want to enter the market, but they doubt that they can follow the price, so they decide to leave the market.

And now, they are back to the market, and they told me that they already repurchase bitcoin when the price reaches $4,800, but they don't sell it now because they don't want to regret as before. They will wait until the price increase more than $20k because they have a target price to sell.

It's hard to see that some investors in those bull run days suffered such a great loss but the safest and secured proposal I can make is to hold till we reach another all time high suitable to sell and take profits. On the other hand, if he is adventurous enough then he can forget about his lost at the moment and  invest into something else that can make him profits in the long run. An example is investing in masternode that have working products. Take for instance DIVI Project, Link, Digibyte, Tezos

Not gonna lie, I was one of them haha. Coz why not? It's been the very dream of us all to get it far with bitcoin, I mean I wasn't expecting bitcoin to reached that high at all and so looking back to its price in early years it made me wish that I could have bought as many bitcoin as possible that time.
One factor that I did not believe that deep on bitcoin was because of scammy look on the internet back then, there have  been some quite issues with the internet all the world and you can't just trust anything on it, not until.... bitcoin just exploded.
You can ride any time with it actually, but then that's a risky part of you for a believer.

Nothing! Just move on and dont let your emotion control you and if you dont still need money then better to held of those coins until we would reach up ATH or even higher for which you would able to
sell off those coins that you've been holding for too long and yes this would really test out your patience and if your friend do able to hold upto this time then i do consider that he do have that
strong self control because if this one happens to other people then they might already sell of wayback in previous years where price is crashing because they did panic that time but if you
are a believer then you'll surely wait up for the recovery.

I have a friend who bought after mtgox collapse in 2013 for 700 dollars and held for a year until Bitcoin reached the lows of 200 USD. Then he lost all hope and sold thinking it's all over fort BTC. You can imagine how he felt the next year when it went back to 1000. He lost his savings by this one stupid mistake and the saddest part is that he held for over a year before selling at a low.

If OP's friend held for the last 3 years when the price was at 5000 and lower why would he panic sell now at 9 when he's still at a loss?

He went through atll this because being down 80% on your investment must feel bad and kept his coins and held. Tell him to be strong the worst part is over.

There is no way beside hold, I know that is hard thing to do moreover if your friend need his money back. This is why some user in this forum always say when you spend money to invest in bitcoin then the important thing is yoy have to spend money that you can afford to lose.

Your friend will not feel dejected although he still hold his bitcoin until now. Moreover with some news and some expert's prediction that spread in the crypto space they are trying to convince that bitcoin will have high price in a few years ahead. That is an insane prediction indeed, but at least the prediction can make many holder believe to stay hold their bitcoin.

Since your friend has managed to hold for so long, I would advise to him to keep doing that. There is no reason to change his strategy now. He should hold his position for another two years and perhaps add to it in the case another dip happens, to lower his cost average.

I'm not going to tell you we are going to the moon and that he should hold for ever. What I think  is that in the next two years it will be clear if we will be able to ever make another ATH or not.

Hold it, bitcoin might have struggled at bit to create its new high but slowly its going up again.
It has been proven in the past that bitcoin is always an asset that we can trust, your friend bought bitcoin during the peak, it was a mistake for short term traders but if your friend believes in the future of bitcoin, has has to hold it and wait until bitcoin will have a bull run and break the current ATH.

Think carefully, if he will sell that btc at the current price, then which coin he is going to invest? Bitcoin is the strongest in the market, altcoins is mostly dependent on bitcoin.

There is need crying over spilt milk, since the deed has already been done there is only one way out imo, it is better he hold for as long as it takes, except of course he has plan to spend the money, if not let him hold for a higher price, I believe it will come.

IMO the best advicse for an ATH investor is to find something you're good at and stick with it. I know that I sound like an asshole but it's the truth.
If you're not certain that you want to spend money on something, you don't. If you are sure of your actions, you don't later come asking on a forum "Guys help me, I did this and I don't know what to do".
You can trade your coins and then you set stop losses and never let yourself be in a situation where you're down 70% and still holding, or you invest long-term and forget about it because you believe in it.

Firstly, where was he, when bitcoin drop at 4k dollar? If he bought btc then, right now his loss should be cover. If not, then tell him to buy more btc. If he can afford. Thus if btc raise at 13/14k dollar, his avarage loss should be cover. Avoid selling btc at current price if he doesn't face any economical problem.

My friend had sold His Bitcoin last year when the price surge to 14k$ and lucky to Buy again last march when the value drops down to 4$k level.

But not are lucky to have just decision because some of my friends are still holding now longing this halving will make more than 20k again.


actually they have no other option if they don't wanna lose big.

Unless they know another Coin to invest that will make growth in a shorter period of time.

Everybody does a mistake especially when speculating. Buying bitcoin in ATH price surely seems like a burden but if we take things into perspective and build a strategy then we can cut the loss and hence lower the burden.

I have seen people buying at ATH complaining about their losses but there are others as well who don't complaint and rather "do something" to minimize their losses. If your friend has bought bitcoin at ATH then he can do the following

1. Minimize his loss
2. Wait for bitcoin to go to moon (would probably take a long time - you never know though) - Hence not recommended

There are multiple ways to mininmize the loss such as averaging down the buying price by buying more in lower prices, trading actively so that the overall unrealized gains are increased, short term trading etc.. But these still requires skills and have risk of more loss. So think wisely and decide according by doing a good research.

Or also expecting for much higher value thinking that the pumped still ongoing, forgetting about doing good research to properly
anticipate the market and position the right target exit.



Many people did their investment after seeing the hype, even without doing proper research they've just listened to some
friends or relatives who are into this investment.


He should wait for some time to cut his/her loss, it's much better to keep holding and try to minimize everything instead
of allowing and embracing huge losses by now.

---

The industry still surviving and the chance of seeing another wave of pumped is possible though it's a matter of
proper understanding that will let your investment to grow.

This is what the fomo do cause. Although nothing has spoilt anyway. Your friend should hodl his bitcoin pretty hard, there's much hope for bitcoin to go up against $19k.

If that bitcoin price was skyrocketing more, above that $19k in 2018 till now. You could have imagine how rich he would have been by now.

If your friend couldn't trade then just hold it specially if your friend believes that the price could go up or even get way higher than the current ATH.
We couldn't force them to sell it because it is their investment their money so they should be the one to decide for it but we could guide them.
You could give your friend some tips on trading and some guide on how to trade properly.

The best advice is of course hold the bitcoin that your friend have, because as long as your friend's bitcoin has not been sold, your friend
has not lost money. I am also one of the people who bought bitcoin when the price of bitcoin was at $ 19k, so until now I am still holding
the bitcoin. Actually we do not need to worry about the price of bitcoin which has not yet returned to the price of all time high, because
I am sure the price bitcoin can exceed $ 19k. All we need to do is be patient, I'm sure in 2-3 years bitcoin can reach a price of $ 50k.

Right now, the best thing to do is to just hold the Bitcoins they bought and if they added more BTC along the way then it would be better.

The hell time for Bitcoin is over already (2018) and now is the start of the slow rise of crypto. With the halving done already, many are expecting that Bitcoin and other currencies will slowly increase its price. Just hold unto the Bitcoins that you've bought at ATH. I just hope that you didn't panicked along the way and sold it at a loss :D.

That's really a huge loss for him, but always think positive and never think of giving up, especially in cryptocurrency. We all know that bitcoin is volatile and if it reached that all time high in 2018 or 2017, there's a possibility that it can reach that again or surpass that price. Bitcoin is really unpredictable and I know that there are a lot of people like you who are still hoping for the better results of their investment. Never lose hope, or as soon as possible, manipulate your money or invest to an altcoins where you can have a side-line profits. There are a lot of things that you can make as a source of profit not only in bitcoin, but always prioritize bitcoin above else.

For the time being, holding BTC is the only option because no one wants to loose $9K. Who knows what would be the price of BTC in near future as crypto pioneer Adam Back has predicted that the price of 1 Bitcoin would be as high as $300k. So don't loose hope and hold until price goes back to $20k or more.

If I was among btc ath investors, my only option is to continue to hodl, I will just forget about them in a secured wallet for long term, we have heard great predictions about what btc price could be in few more years, it is possible btc will go even higher that the 20k ATH, if you are not desperately in need of money then hold.

i am in a similar situation with the only difference i bought most of my bitcoins at a price between $400-600 and didn't sell at previous ATH. My advice is to forget for at least one more year until price hopefully (and probably) hit $40-50 K.

Yours isn't same with the guy in OP's story. He bought higher at ATH and low price is far below his price. But for yours, at $400-600, you are still in huge profit. At least profit of $8800 or close there. That you didn't at ATH, doesn't mean you are now at loss.

If it was low amounts - just forgot for the better days. Its the only one that you can really do. Or if you are risky you could out everything in margin trading and try to recover funds

Quite honestly he has no other option but to keep holding, he had a chance to sell his coins for a small loss back in the day but he did not took it, if he was able to keep holding his coins even when the price was very close to 3000 then it does not make a lot of sense to sell at 9000 unless it is because of an emergency, obviously this brings the question about how long he will still have to hold to at least recover his money? And that is something no one really knows as many circumstances need to come together to produce a bull market.

First, I would commend him because he can still think of not selling and take his losses,

Second, continue holding. Since he was able to hold it since 2018, I am sure he can still hold it until the next ATH. It will take time and a lot of patience, I know it is really hard to endure but holding is the only option to take his losses back.

Many burned a big hole in their finance by investing when the price was high and when the market started falling many accounts were wiped clean because many were forced to clear their debt and if they are holding the coins then the wait to level off the entry is painstaking.

 It is not a similar position by any stretch as you are in huge profit and the OP is talking about investors who are at a heavy loss. If you are able to hold for a couple of years then you might reach those valuation but it all depends upon the global economic situation.

Have patience if you can wait you will be rewarded eventually. Refuse to sell at a loss, and try to learn market cycles, parabolic runs and all that stuff that way the next top you will know when to take profits. Or learn how to use a stoploss is pretty helpful as well.

Actually it depends on the target of your friend. If he plans to keep it a long time, then he doesn't need to do anything unless to keep holding until the price can be above $19,000. The problem is when your friend needs urgent money in a big amount, so he should sell the Bitcoin at any price. But, if he has enough money and not needed to sell the Bitcoin, I suggest HODL strategy. Of course, it is not easy to hold Bitcoin for a long time, it needs a strong belief and a calm mind. However, if you trust in Bitcoin, you won't doubt it to keep a long time.   

It's really quite a sad story for everyone that got in during bitcoim ATH of $19k and i must say your friend is really strong for being uptimistic since then. There is a general saying in this space and I've come to realize how much of a truth it is; "You only lose when you sell at a price lower than your entry price". So far, your friend is still in the game and I'll advice he keep holding as when thing is certain in this volatile market, the price will rise up ome day no matter how long it takes

That is the time that your friend accepted the losses he got from bitcoin. Because basically if you bought at that high amount, you should keep your bitcoin and hodl it for a long time, wait for the price to be equal or somehow increase a little bit so you can compensate the time of your waiting for a small profits. But for us who believe in the capability of bitcoin, there's always a chance that we can reach ATH because of the mechanism of halving which pushes demands for bitcoin's price to increase. Wait, they are really pushing the price because miners need it. And I think everyone wants bitcoin's price to increase so it's not impossible for these investors to still have profits soon, in the long run, so just wait.

Well, your friend already accepted the fact that he lost so much money but then decided not to sell it. He is in the right direction, he should continue to keep his bitcoin. Once new ATH was achieved, I know that all those hard times he got will be replaced with joy for being a strong holder.

situation invest on doge XDD

They already afford of waiting until now for more than 2 years,so i believe that waiting another 2 years again is not that long for them right?

Not unless they have a badly need for that amount and needed to withdraw.

But if there is no demand and can be leave again in wallets?keep it hold.

Look at those who early adopted Bitcoin,they have waited for more than 5 years and the product of waiting pays off.

Two things is involved in this situation for him to recover from the loss, if your friend is a good trader he should trade the bitcoin, by buying low and selling high or he should trade the bitcoin against altcoin to gain more units of bitcoin which might eventually be up to or more than $20k if he chooses the right coin to invest, or better still he should hold the bitcoin till it reaches its previous all time high, I'm optimistic bitcoin will surpass the previous all time high but no one knows when it's gonna be

it's such a hard feeling and a big bitter pill to swallow but any investor who bought into crytpocurrencies during those days should come to the realization that they lost and accept their loss. It will be better to sell and invest with it to increase your profits with time than to wait for it to rise again.

I like to salute you for your patience, imagine you are still holding the coin you bought at $19 k, it's a very long wait, now that you have waited that long why not extend your patient and just wait a little more, you seems to have a stable income because you are not tempted to sell your coin, maybe you really don't need to trade or sell your coins because of your need.

I believe he must "lock-down" his coins as he's usually doing till now and just quarantine them for a few more months till we make a new ATH (yes, we are just a few months away from seeing a new ATH price tag for btc as the sentiments are proving it). So, hodl and hodl a bit more longer is my only advice to your friend.

Cut loss. Use the remaining asset to invest into other alt coins, buy low - sell high. Diversify the funds until you can fully recover while waiting for another ATH.

There are some systems of trading, since he has invested in a loss project and now there will no gain to regret. Instead of regretting, he should try to recover the loss. If he has bought Bitcoin at 19k price and still holds them. then he should sell that at the current highest price, as well as invest more. Then he can buy at a lower price and sell at a higher price so that he can recover the loss by trading in this way. To me it seems to be the most effective way to recover his lose, moreover, there is no benefit in holding them.

If I were in that position then I would just keep holding it in and remain confident the price of bitcoin would definitely surpass the previous ATH and if it had been embedded in me and my mind, then of course it would not prevent me from making another purchase at this cheap price. But if indeed we have a challenging mindset, then I will convert it to altcoin and do day trading to turn losses into small profits every day.

Ways to far to get back at that price.
Bullrun will have to come SOONER but the time we don't know WHEN. We can't be hopeless anyway to think about it. We just leave those coins in our wallet and let it grow in time.

What we look now is another opportunity to recover those days that we wasted, by starting accumulating Bitcoin and some Altcoins could something to help and uplift our chances to get back the money we lose after 2017 ATH. Time we need to restart and don't get fall into broken promises.

Only good if they were able to do it early. They should be able to cover the loss by now* with focus and proper trading.

However, not too late if that person is really eager to cover the loss.

Either put an end for that patience, sold some coins from 2017, or let it hold more and used new funds to start. I prefer the latter if I have decent funds.

Don’t you think it’s funny how a lot of people don’t want to buy Bitcoin when the price falls, but they all start flying in when the price is pumping and going to another high price? This is what you get when you’re not careful and don’t seek for advice or go for a simple research. It’s really bad.

Do you still think there is another option for him? He’s just going to leave that money there and pray that price goes up from now to next year so that he can recover his losses. If your friend should go ahead and sell after buying at ATH price and losing, then it’s of no need. So, he should just leave the money there. This is part of experience and he’s learnt from it.

First thing is as long as the currency remains in your wallet meaning your investments still the same(only the Value via Fiat change but the volume is the same)

Next thing is If we are not in need of funds then why bother about your Holding?

People here always tells us to HODL then why not follow since the money you vested is willing to risk?


This is what he needs if there is a need to profit and spend but if not?if the amount he invested is just a spare money?i believe that we can just let it there.

I highly agree to this, his investment will remain the same, nothing but only its value have changed. I know it is still stressful to see your investment to drop its value, we've all been there, but if you don't need the money yet, holding is the only and better choice until the value of it increases again.

As a new cryptocurrency investor, kicking off your shoes and taking your first steps along the Path of The Blockchain, you’ve probably found yourself asking the following questions: did the bitcoin bubble really burst, is it too late to get started, and what are the best tips to be successful in this newly emergent investment space? While you’ve been asking yourself these questions, along with many others, you’ve probably noticed the prolonged bear market cryptocurrencies have been facing the past year, with just last month being the worst month for Bitcoin since 2011. Taking a more historical view, we see this is only the most recent bear market, of which there have been many before. Likewise, for every bear market, there is a bull market; an endless cycle of perpetual balance, akin to the Taoist yin and yang. Thus, despite the recent significant drops, cryptocurrencies are far from being finished, and the path to cryptocurrency investing nirvana stands stronger than ever.