I'm panicking, tell me it will be OK...

[TCortese]

I'm sure there are a bunch of posts like this today and I'm sure you all are getting sick of hearing it. I am TRULY sorry. I'm usually VERY self sufficient, but I NEED reassurance today. I tried not to post this, but I couldn't help myself.

Been trading for around a year (crypto anyway, some pennies/forex for a few years back in college), wasn't until past few months that I started seeing REAL profit (like most I imagine...). I lost lots by panicking on those red days back in June. It turns out I don't handle this sort of pressure well. Not well at all...

Knowing this, I was going to move into fiat a few weeks back in preparation for the scaling issue FUD and corresponding dump, but I decided that I had the intestinal fortitude to keep a portion of my portfolio in small cap coins, dumps be damned. At first it was 1/10th, then 1/4, and by the end of June I was gobbling up shitcoins like hungry hippos eat white marbles, constantly telling myself "bah, I can handle any losses knowing that they are only temporary". I have about 1/2 my portfolio in low cap alts.

I was WAITING for today, for something FAR worse than today, for the mythical 1500-1800 everyone keeps talking about, the pools and pools of blood flowing like a river through the streets, yet I'm already freaking the f*ck out. It turns out my hands are not strong. Not even a little. They're like little baby hands that shake like leaves at the first sight of a daily close below 2200.

 BUT, I should continue to hodl at this point right?

 I have patience, I'll hold for years, that's not a problem, but my imagination has me thinking that the cryptobubble just burst and we'll never see prices like the past few months again. Just somebody PLEASE tell me this thought is stupid and completely without merit. That I'm not the only one hodling. To uninstall Blockfolio so that I'm not constantly grabbing my phone. That we will see 3k again by the end of the year. That it will all be OK in the end...

I'm also open to any suggestions you vets have on how you get through these times. Experience?


T.

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[coolstory]

If you want the truth here it's coming. We observed a great pump times and this happened for almost last 2 months. But it ended for a while. There must a serious correction and it came up now. Moreover, bitcoin fork rumors made the things even worse.

The market will take a rest. If you're a long term investor, I think there is nothing to fear. It should be allright again. If not in 2017, it will be okay in 2018. But it will, for sure.

[shinratensei_]

BUT, I should continue to hodl at this point right?

What do you think about your question? You already had your answer.

I have patience, I'll hold for years, that's not a problem,

but my imagination has me thinking that the cryptobubble just burst and we'll never see prices like the past few months again. Just somebody PLEASE tell me this thought is stupid and completely without merit. That I'm not the only one hodling. To uninstall Blockfolio so that I'm not constantly grabbing my phone. That we will see 3k again by the end of the year. That it will all be OK in the end...

I'm also open to any suggestions you vets have on how you get through these times. Experience?


T.

Those are selling to grab more for the low price of bitcoin. My thought if there will be a clear news regarding the bitcoin upcoming scaling problem I mean to make a clarification how the scaling agreement works.
But we don't know about crypto if the more countries or people trying to adopting it in the future.

[sweetbet]

I believe that the uncertainty of what might or might not happen with Bitcoin after the 1st of August is creating an atmosphere of fear and panic. The main advice that I keep reading is "take your bitcoins offline until we know what's going to happen with Bitcoin". The alt coin that I've invested 100% of my funds in is 50% down, so I'm not cashing out at a loss. I will hold and wait until I am no longer in the red before I decide what to do next. But as far as Bitcoin is concerned, judging by the growing number of businesses that are using it, and the number of governments that have and will be legalizing it, I believe that Bitcoin will come back bigger and stronger yet.

Legality of bitcoin by country or territory
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

[xuan87]

The decreasing is getting worse, the volatility in the market had cause difficulty for me to do trading, the price really unstable and unpredictable, but if you are a long term investor then there will be no problem, unless you are investing in alt coin, if you are investing in Bitcoin then you can relax

[Ultegra134]

If you're a long-term investor, I think you'll be fine, these ups and downs in cryptocurrencies have been happening lately.
In Coinmarketcap.com, two days ago, all major coins had a positive shift, have a look now, they are all going now.I'm panicking because I invested a large amount (For me at least)
and I want the full return of my investment as soon as possible.

[mk4]

If you've been really trading for more than a year, you should definitely know that this drop is only going to be temporary. I honestly expect alot more panic from the newer crowd.

Should you sell? or not? If you think you can make more profit or make back your losses by selling at a loss, then go sell! Want to make profit with lower risk? wait till the price goes up again.

[fistfullofbtc]

ive taken some profits, there are a lot that will hold like the captain of the titanic, clutching the wheel whilst it sinks. Never think you know the market, never think you can out wit it and like any roller coaster enjoy the ride.

People get hung up on profit taking but any profit is profit.

[TCortese]

OK, first let me thank everyone who responded.

Reading the responses, if there is one thing I was reminded of, it's my faith in this technology. Every coin I'm holding, I purchased not because I saw a quick buck, but due to the fundamentals/strong dev/good concept/etc. It's just hard as hell for me to watch my portfolio drop by two weeks worth of work at my day job every time I check it. My stomach isn't strong enough for that nonsense. You veteran permahodlers have my deepest respect...

Twas but a moment of weakness. It's passed now.

"What do you think about your question? You already had your answer. "

You're 100% right. This did a better job of putting things in perspective than I can say. Thanks!

...and now that that's done, embarrassment aside, I must admit I'm thrilled I went seeking out a place to placate my frightened mind as this seems to be a great community. Came for the reassurance, think I'll stay for the knowledge. Thanks!

T.

[TCortese]

If you've been really trading for more than a year, you should definitely know that this drop is only going to be temporary

I've watched a few $100 drops before, but a few things are different this time:

A) I never held enough for it to affect me too much
B) My alt bags used to pump when BTC dropped
C) This is REALLY starting to feel like a bubble

It's the last one that killed me as I'm not sure how the bursting of said bubble would affect my bags long term.

With that said, I think it's a mistake to assume BTC will do nothing but rise in the future.

[The Sceptical Chymist]

Oh for Christ's sake, stop your whining.  This is crypto--no crying allowed here, just like baseball.  You take your lumps like a man, and take your profits where you can get them.  Were you around in 2013-14?  That was a fucking bloodbath.  Nothing like we're seeing today, yet. 

Investing in "small cap coins" isn't a good idea, either.  Most are completely shitty and shouldn't exist in the first place.  If you trade in those, you're eventually going to lose your money.

[JavaScriptus]

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Good luck.

[Images21]

I am also experiencing this very hard ride right now. I was more than shocked when I saw that all the alts I have invested into are going down real low. I have read a post in this same thread that if you are holding bitcoin it is all right because it will gain back. It added me a little more worry because I am holding alts rather than bitcoin. But I want to believe that all these are still normal and temporary as price fluctuation is always normal. I really hope so. I won't sell while I am incurring losses.

[Images21]

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Good luck.

I noticed your post just a little bit late. I was a bit feeling assured with your simple presentation of how things are going to fare in the near future. I hope it will be in the near future.  After all, when everything's at its lowest, there would be no other way but up. For the win!

[bitofc]

whether you sell to fiat, change to alt (which is down as well), HODL for long term to have it recovered later, hedge it with short future contracts are all depends on what you want, and your strategy.  But at least for now, btc and altcoin are in bearish trend.

[Lorne Malvo]

I'm sure there are a bunch of posts like this today and I'm sure you all are getting sick of hearing it. I am TRULY sorry. I'm usually VERY self sufficient, but I NEED reassurance today. I tried not to post this, but I couldn't help myself.

Been trading for around a year (crypto anyway, some pennies/forex for a few years back in college), wasn't until past few months that I started seeing REAL profit (like most I imagine...). I lost lots by panicking on those red days back in June. It turns out I don't handle this sort of pressure well. Not well at all...

Knowing this, I was going to move into fiat a few weeks back in preparation for the scaling issue FUD and corresponding dump, but I decided that I had the intestinal fortitude to keep a portion of my portfolio in small cap coins, dumps be damned. At first it was 1/10th, then 1/4, and by the end of June I was gobbling up shitcoins like hungry hippos eat white marbles, constantly telling myself "bah, I can handle any losses knowing that they are only temporary". I have about 1/2 my portfolio in low cap alts.

I was WAITING for today, for something FAR worse than today, for the mythical 1500-1800 everyone keeps talking about, the pools and pools of blood flowing like a river through the streets, yet I'm already freaking the f*ck out. It turns out my hands are not strong. Not even a little. They're like little baby hands that shake like leaves at the first sight of a daily close below 2200.

 BUT, I should continue to hodl at this point right?

 I have patience, I'll hold for years, that's not a problem, but my imagination has me thinking that the cryptobubble just burst and we'll never see prices like the past few months again. Just somebody PLEASE tell me this thought is stupid and completely without merit. That I'm not the only one hodling. To uninstall Blockfolio so that I'm not constantly grabbing my phone. That we will see 3k again by the end of the year. That it will all be OK in the end...

I'm also open to any suggestions you vets have on how you get through these times. Experience?


T.

Based on what you wrote I suggest to quit immediately. Emotions should not drive your investment or speculation decisions (crypto is the second one). Maybe it will go up or go down. Nothing sure. Any one saying it will surely go to either direction in a certain time frame is just saying it. There can be various opinions but nothing is sure. These are just opinions and the most important one is your opinion. Panicking is not a solid ground and is not an opinion. Asking others to tell you what to do is just a blind ride. Nothing more than gambling. Others influencing you is not necessarily a bad thing but you need to understand your own decisions. I am not saying to quit because I think this market will go down. Maybe it will go up right after you quit. Maybe. The important point here is that you are not on a solid ground in your head. Take a neutral position and think through what are you doing.

Other thoughts:
- 'I never held enough for it to affect me too much': you should never speculate with more money than you are willing to lose. It seems like you do.
- If you are here for the long term and you are not happy with the prices declining then saying 'I am here for the long term' is just to reassure yourself. If you are a long term buyer of any given asset at any given time then you should be happy about the asset getting cheaper. If you are not then be honest with yourself.

[Idrisu]

Bitcoin will definitely going to trade above $10,000 but when it will be I don't know. For now we can all testify what happened few months ago when the price was in serious bubble and we were all clapping our hands for bitcoin and Ethereum but now is the time that we should allow the market price to make a correlation for future price upward movement. If I will advise you this is the time to buy not selling sir.

[Labro]

Rest in Pepperoni... this is a sad day.

[rickadone]

The decreasing is getting worse, the volatility in the market had cause difficulty for me to do trading, the price really unstable and unpredictable, but if you are a long term investor then there will be no problem, unless you are investing in alt coin, if you are investing in Bitcoin then you can relax

what to do ? It is just part of any type of market and unfortunately we are facing it within bitcoin market after the quick time from big bumps. Honestly I'm not getting worried on seeing falling prices of bitcoins because I am confident price will bounce back into multiple times from what we had with last bump.

Segwit activation will be the reason for next rally. Till then I like to suggest you to stay away from your trading because protecting your capital should be given higher priority rather than making new profits.

[JavaScriptus]

one month ago (12 June) open price was 3000$,
wait for this....