If only....

[charlescoin]

I can give you some advice that worked for me. I bought a bunch of bitcoins when the price was very low. < Example : 20 bitcoins @ $200 ==> My capital investment = $ 4000 > I knew that I needed to reduce my risk, so I waited for the price to rise. The price went up to $400 per bitcoin and I sold 50% of the coins immediately. < Now, I had the $4000 in fiat that I initially invested and 10 extra bitcoins. >  

The risk of losing my initial capital investment is gone now and I can take some risks and even more profits from the remaining coins. The price went to $1000 and I sold 50% again < taking $5000 pure profit and still have 5 coins left >  The price dropped again and I bought some more bitcoins with 50% of my profits in fiat at $500, bringing my total back to 10 bitcoins and $2500 profit in fiat.

I sold 50% of those coins again at $1500 pushing my profits up to $10 000 and I am left with 5 coins.

*This is only an example, the amount of bitcoins I bought and the amount of money I invested is my secret to protect my financial privacy, but you can learn from this strategy. Get rid of the risk first and then take chances. ^smile^

This is such a nice advice really. You are the first one who I have seen doing this compared to others regretting that what if and some of them spend it. Since we know that the future is indefinite and the expectation of Bitcoin at that time is not that much without knowing that the price will rise this high then I could say you have gone into a safe play which really benefited you in the long run. As for me, I wish I have known Bitcoin since then though I don't meddle so much in what ifs and what I'm focusing now is what I can do today so that the time I spend thinking of what ifs will become productive and make use of it in a great manner. I salute you for that wise decision sir.

Thank you for the kind compliment. Just remember not everyone might be as lucky as I might be, but also remember no investment comes with zero risk. You just need to manage these risks and reduce it in any way you can.

It is never too late for someone to follow my strategy. The Bitcoin price has shown that it always goes down after a big spike. < timing is everything > Wait for the price to go down and start buying some coins when the price is much lower. Then WAIT!

The price usually goes up again, so you can sell some coins to get some of your initial investment back and still have some coins to play with. ^smile^ < Rinse and repeat, until you have all your initial money back and then start taking bigger risks with the profits you made >

Enjoy it, I hope it works for everyone in the future.

Your original strategy sounded decent but now you are talking more of short term fluctuations, the better solution is to buy in stages, for example xxx$ every month or week for a smaller amount because at the end of the day even the best trader doesn't know what the price will be.

You can still calculate an average buy price with this long term strategy I'm suggesting and sell out to recoup your original capital.

Wrong, buying monthly or weekly will force you to buy, even if the price is high. My strategy is focused on buying when the price is dipping after a spike or what some people might call a bubble. You have to buy low < when the price average out on the lowest level again > and then just wait until it rise for the next little bubble, to sell again.

Never sell everything, because you never know if the next bubble will be the one that takes you to $10 000 or even better $100 000 per bitcoin. < You want to have flesh in the game, when it reach those levels > ^smile^

This is not risk free, because there are always a risk that the whole thing will collapse for some reason, but it is a better strategy to follow if you want to reduce your risk and still have some of your initial investment in your pocket, if this thing goes belly up. ^hmmmmm^

I have to disagree on your first statement, if you know when btc is cheap you would be a trader rather than a hodler, and you won't have problems like OP mentioned. In reality no one knows where the price will end up so the best choice is to buy at regular intervals unless you have specific market knowledge or trading abilities.

I agree with the rest of what you said though.

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[findingthemoon]

Did I miss something? The last 2 posts said congrats when actually he lost money?

Signature campaign spammers eager to write a lot of posts without reading the threads they post in.



As for OP's original problem its always unfortunate when you are forced to sell for RL reasons, it can happen to anyone but its not a reason that should dissuade us from investing whether that be bitcoin or other investments.

I hope you get back on your feet and I hope you didn't sell ALL your bitcoins as your original post says. Even just a fraction could someday earn it back.

[Xester]

Did I miss something? The last 2 posts said congrats when actually he lost money?

Signature campaign spammers eager to write a lot of posts without reading the threads they post in.



As for OP's original problem its always unfortunate when you are forced to sell for RL reasons, it can happen to anyone but its not a reason that should dissuade us from investing whether that be bitcoin or other investments.

I hope you get back on your feet and I hope you didn't sell ALL your bitcoins as your original post says. Even just a fraction could someday earn it back.

You are right in that point. I have always been selling all of my earned coins but it is not the end for me to get or earn more bitcoins and enjoy the benefits from investing on it. For the author, you can still buy bitcoins if you have some money, it is not too late bitcoin is still increasing in value and if you buy now surely you will have huge profit at the end of the year.

[jorneyflair]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

Well, I dont have anything to say that would pretty much get you out of this, because you have made the decision already: nothing can bring back your bitcoin or the profits you could make, this is past.
But in my opinion you should not really be sad about this: you have missed a great chance but thanks to this, you may pick out correct conclusions that can make you more successful in investing overall, not necessary only in cryptocurrency investing.

My advice? Stay focused, and dont quit using bitcoin. Buy a small amount of it that you can afford every week, and stack the crypto as hard as you can. In few years, maybe you will be lucky again

[Slark]

Op, I feel your pain. I  was in the similar situation. I had spent my bitcoin just survive somehow, as my fiat reserves were completely depleted.
I spent 5-6 BTC when the price was around $600-$700 and even less. Now when I see preset bitcoin's price - $1800 I feel bitter and sad.

I decided to never spent BTC again, not unless next halving (or some really dire personal situation) at least. You should do the same.

[paul gatt]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

I like people like you, we should think about what is going to happen in the future, for bitcoin, it has huge potential from the early days of development, has been through a long time, it has For all of us to see the power of it. Make your decision right, congratulate you on a great profit for a long period of time.

[BitcoinPC]

I could feel you feeling of loss. it is really a big lose, and if you save them than no doubt you will be a richest person. But we realize in that time, you are needy and it was your right decision. So now i suggest you, free you mind and again when bitcoin price down than again buy it and start your new journey with bitcoin.

[Hypnosis00]

Wow, If you have patience then you could earn a lot of money now and you can now enjoy the money by buying all the things that you want and not like what you do where you already regret it, This is why people didn't succeed because they don't have patience.

[Tyrantt]

There's no use in crying over spilled milk, right? There's still time for you to start earning bitcoin again and maybe buy small fractions every month or so, no doubt that it will pile up again. good luck.

[Kprawn]

There's no use in crying over spilled milk, right? There's still time for you to start earning bitcoin again and maybe buy small fractions every month or so, no doubt that it will pile up again. good luck.

You can cry as much as you want, I too has made some wild decisions in the beginning and it did not turn out as I had planned. I too has lost a

bit of money, when life happened and I had to sell some bitcoins. You feel these mistakes the most when the price skyrockets like this and you

think how much money you would have had, if you did not have to sell it when you did. I just started from the bottom again and I have doubled

my investment in a very short time after that. 

[alborg]

I hope you have found a good job and start having income... I also lost my job around that time but I managed to pull through without needing to sell my coins...

The good thing was that you didn't have to worry about bitcoin price after you have sold them- that was a dark and depressing period for HODLers when the price keep dropping and everyone was saying that "bitcoin is dead!"...

Another good thing is that you are back! It is still not too late to invest in bitcoin again and have faith in it. HODL if you can afford to, and soon you will get back what you have lost...

Thanks.  Yes I've been in work ever since and recovered my savings pretty well however I'm much more conservative now.  Saving slowly but surely.  I remember the "bitcoin is dead" days very well as I sold just before they hit the bottom.

[eternalgloom]

Damn, for something like this you can't even be rightfully mad at yourself, you pretty much had no other option than selling.
At least you didn't sell them without really needing it, but I guess that doesn't make it any less painful.

There might still be oportunities like this with altcoins...

[findingthemoon]

I hope you have found a good job and start having income... I also lost my job around that time but I managed to pull through without needing to sell my coins...

The good thing was that you didn't have to worry about bitcoin price after you have sold them- that was a dark and depressing period for HODLers when the price keep dropping and everyone was saying that "bitcoin is dead!"...

Another good thing is that you are back! It is still not too late to invest in bitcoin again and have faith in it. HODL if you can afford to, and soon you will get back what you have lost...

Thanks.  Yes I've been in work ever since and recovered my savings pretty well however I'm much more conservative now.  Saving slowly but surely.  I remember the "bitcoin is dead" days very well as I sold just before they hit the bottom.

Good luck man, never lose faith and look on it as one of life's many challenges. This time around if you are rebuilding your btc savings keep some ££ too for emergencies so you won't have to force sell.

[KesoNie]

it's okay man, atleast bitcoin has been your haven when you are desperate and having no money. we earn bitcoin just to provides our needs when we dont have enough money. just move on and start earning it again and enjoy it.

[alborg]

I can give you some advice that worked for me. I bought a bunch of bitcoins when the price was very low. < Example : 20 bitcoins @ $200 ==> My capital investment = $ 4000 > I knew that I needed to reduce my risk, so I waited for the price to rise. The price went up to $400 per bitcoin and I sold 50% of the coins immediately. < Now, I had the $4000 in fiat that I initially invested and 10 extra bitcoins. >  

The risk of losing my initial capital investment is gone now and I can take some risks and even more profits from the remaining coins. The price went to $1000 and I sold 50% again < taking $5000 pure profit and still have 5 coins left >  The price dropped again and I bought some more bitcoins with 50% of my profits in fiat at $500, bringing my total back to 10 bitcoins and $2500 profit in fiat.

I sold 50% of those coins again at $1500 pushing my profits up to $10 000 and I am left with 5 coins.

*This is only an example, the amount of bitcoins I bought and the amount of money I invested is my secret to protect my financial privacy, but you can learn from this strategy. Get rid of the risk first and then take chances. ^smile^

Excellent advice thankyou.  Playing with free money.  I will use this strategy in any future investments.

[skorupi17]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

A very disappointing and frustrating experience you have there but it will serve as a lesson for others at some point.

Though you had no choice but to sell them, it is a fact that all happened already and what you have to do is to move on with it. Let's just face the reality and start holding bitcoin again It's not too late to start over again, right? But this time, let's make it worth a shot

[Oilacris]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

That situation do the right stuff for you to secure some money or cut lose and its not really a regretful decision afterall because its being used on important thing i suppose. Back on previous years of bitcoin its really risky to buy because prices cant be known it will sudden pump and crash back in a short period of time which we wont really expect but for now bitcoins price movements its somehow having a good support cant easily be crashed or pump anytime.

[SamMurphy]

Just wanted to share my experience of bitcoin with the recent price rises.

I bought £15000 worth of bitcoin at 3 different stages back in November 2013 when the price went sky high from the tens, to the hundreds then up over $1000.  Think I bought at $300, $600 and $1000 or something, can't exactly remember. 

Anyway the price plummeted as we know but I held on for the long term.  But then I lost my job, had a holiday in the US planned and held out for months until I had no choice but to sell. I sold all 27 bitcoins for £7000 meaning I lost £8000 overall.

I didn't want to sell as I would have rather kept them with a chance of either making money one day or losing it all, rather than sell immediately and lose £7000.  Price continued to drop below $300 so in some way I was happy i didn't lose more but when it stabilized at $250 and stayed there for what seemed like ages I knew it had a future and would go up again one day.  But I couldn't bring myself to throw more money at it.
 
Anyway today my 27 bitcoins would have been worth £37000 and a nice £22000 profit.  Oh well. 

I know that feeling too. :p But this was what it happens. But think you could lose more if the price of btc was too low. I don't know if someone can invest easily in btc now because of the high price but from personal experience I do baby steps and I have seen some profit.

[gribble]

Bitcoin is high risk losing money if we want make investments into bitcoin, but it is chance for make double our money
 price of bitcoin can be increasing and decreasing, investing into bitcoin is more huge risk even be compared with stocks
 because bitcoin is not like other kinds of investments, if only you be ready losing money then make investments in bitcoin.

[BitcoinPanther]

Did I miss something? The last 2 posts said congrats when actually he lost money?

Signature campaign spammers eager to write a lot of posts without reading the threads they post in.



As for OP's original problem its always unfortunate when you are forced to sell for RL reasons, it can happen to anyone but its not a reason that should dissuade us from investing whether that be bitcoin or other investments.

I hope you get back on your feet and I hope you didn't sell ALL your bitcoins as your original post says. Even just a fraction could someday earn it back.

Yeah we, I think what OP did is unavoidable.  He badly needs the money since he lost his jobs and nowhere he can get any means of supplementing his finance but by selling his supposed to be wealth generating Bitcoin.  It also happens to me, I have to sell all my bitcoin when the situation needs me to sell them. 

Well, he can still save bitcoins, even without spending any money and by simply doing a task or freelancing online and get paid with bitcoins.