I think that you're being emotional and shouldn't invest at all if you can't handle massive red candles. Selling now is like buying at >15k. Now is not the time to sell, but to keep cost averaging in.
There is no guarantee that bitcoin will really bounce back one day . I believe it will, but I am totally unqualified.
Of course, there are no guarantees. That is why the vast majority of us are suggesting some prudence, especially considering BTC as an investment, and that is to be willing to lose everything that you invest which means riding it to zero if necessary.
Putting more money is foolish, if you already put all the money you have reserved for high risk assets.
It is not foolish because that is how dollar cost averaging works, and we already know that markets can be more extreme than any rational person would expect.
Of course, you need to have confidence in the underlying fundamentals, and that confidence should not be shaken merely by short term price performance.
In past it bounced from much lower marketcap, much lower media attention, much lower infrastructure (exchanges, media, wallets, ATMs, stores that accept etc).
There is some truth to what you are saying, but bitcoin also remains a baby in terms of adoption that continues to grow - in spite of short term price dynamics.
It's not certain that it will ever reach 10k again. I believe it will, as everyone here. But how much are you willing to bet that it will? That's he point.
Bitcoin does not have to reach $10k in order for it to be an ongoing good investment, even at these price levels.
Sure, it has decent chances of reaching $10k again, but of course, nothing is guaranteed, including $10k and including $4k.
Edited to add further response to same topic below:Just as you said that buying at 15k is stupid, in future selling at 3500 could be a great deal. What is it goes to 1500.? That's a 100 gain if I buy back.
The point is that we're already down 90% and the probability of going down further decreases exponentially as we go down. You're just falling victim to the gambler's fallacy right now.
Edit: What if it goes down to $1? It was $1 before, I could sell one Bitcoin and make 3500 Bitcoins! (fat chance)
Edit2: Invest some money in a book on investing and balancing portfolios. Read it, study it. Everything you post cements the fact that you're just gambling based on emotions. Emotions that traders use to take your money and make profits.
It is down 75%, not 90%.
I am talking about balancing portfolios, when I said that putting more money is foolish if you already invested all you wanted in high risk assets. Less than 2% of my portfolio is in cryptocurrency.
But you are right, I am being emotional. Even though what I am saying makss Sense, because BTC can still fall to 1900 (your 90% down). We are not there yet.
It does sound like you are emotional here. Especially, you are arguing with unimportant technicalities regarding BTCMILLIONAIRE's point.. who cares, 70%, 80% or 90%, his point that the BTC price is largely down already which causes it more difficulties to go down further, even though we have a current bearish trend that gives decent probablities to down.
The punchline also seems to be that even if you only invested 2% of your portfolio, you are acting like you are "overinvested" which does not seem to come from someone with a mere 2% of investment portfolio invested.
Edit2:Ahhhhhhhh
Thank you millionaire, gentlemad and lfcbitcoin
I will hold this shit until it goes up. You are right.
Thanks
I see that you largely have "seen the light," but of course, I am going to leave my above comments stand, as I originally drafted them because there are likely a lot of folks going through similar dilemmas right now, and each of our experiences and opinions can be helpful to resonate with people of varying experiences and perspectives.
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