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Author Topic: Bought my first BTC @ $4600, slightly worried  (Read 7337 times)
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September 13, 2017, 08:02:11 AM
 #1

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

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September 13, 2017, 08:10:31 AM
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Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Sure. Even for old timers, there is a perpetual feeling that one doesn't have enough coins. But such market sentiment (greed) is inevitably balanced by fear, and the nature of markets is to test the mettle of its participants. That means squeezing bulls and bears alike. If I were you, I'd prepare for the worst, which from here looks like a return to the $2000s. In the interim, there is major support in the $3000s, perhaps after a stop run below the $3600 low.

For all I know, this is just a shakeout before new all-time highs next week. But it's also possible that you bought a long term top. You need to be prepared for that. Undecided

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September 13, 2017, 08:10:40 AM
 #3

wow that a lot of money you got there. my advice is to closely monitor the price of bitcoin. then decide whether you sell it if the price goes up more a little more than you in invest or let it sit for a very long time and wait for the price to go up to 7k. then withdraw the profit.

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September 13, 2017, 08:10:50 AM
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New to the game, but I'm sure this thread has been made 900,000 times.  Just hold.

$3,900 and dropping, though.  Undecided
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September 13, 2017, 08:18:59 AM
 #5

If you're aiming for long term investment, nothing to worry.
Yes, according to the price, Chinese exchanges really dumped bitcoin around $3837-$3860 right now, but global exchanges could hold above $3900 which is good. Some advice; do not look at the price every hour or everyday, just wait until next week or next month, it may takes several months before the price bounce back to $5000 again. Keep holding  Grin

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September 13, 2017, 08:22:32 AM
 #6

New to the game, but I'm sure this thread has been made 900,000 times.  Just hold.

$3,900 and dropping, though.  Undecided

Yeah its dropping but I think it will have a  buy support at $3800 or less. @OP its wrong timing fopr you, but If you can still hold, thats the right thing to do now or you can sell and bought again to a lower price just to cut some losses.


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September 13, 2017, 08:26:42 AM
 #7

Surely you will recover your losses in the long run. It would be a real struggle to cut your losses than holding since that's a very decent amount you thrown there but think of if you sell it now then you will lose but if you hold it then you'll profit. Just hold and chill. It might dump even more so be prepared but don't panic. It will soon recover in a couple of days, weeks, or even months. Just trust Bitcoin.

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September 13, 2017, 08:28:38 AM
 #8

It's a bear trap. Same manipulators manipulating the price! Keep holding. I've seen this week in week out since I bought in 2013. Its the Ethereums of the world I would be worried about!

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September 13, 2017, 08:29:15 AM
 #9

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Well everyone goes to what you are feeling right now specially newbies. But don't be nervous and just stay calm. If you bail out today you will lose your investment so the logical thing to do is just hold on your bitcoin. The news coming from China really put a impact on the price right now. But rest assured that bitcoin can recover from all of this. It has proven time and again that it can bounce back from this minor bumps along the way. Just don't look at the price because if you constantly looking at it and seeing the price going down you will panic and might think of selling your coins resulting in a loss. Just stay positive maybe tomorrow we will see the price going up again.  Smiley

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September 13, 2017, 08:31:12 AM
 #10

You buyed just when it got on the top of its price. That is a beginner mistake. Think if you would research a little and wait till now, you could buy 1 bitcoin with 700$ less and you would be closer to make profit in future. Anyway, I think there is absolutely no reason to worry. Dont panic and keep your bitcoin in wallet for future. Its price is going to double in next 2-3 years
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September 13, 2017, 08:31:19 AM
 #11

Don't you worry... I have been in your position before and i can assure you that some people do worry about the bitcoin price even with no bitcoin at all but every time it's the same bloodbath but it gets better overtime and settles then goes BOM and i hope in the next BOM your wait will be worth it

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September 13, 2017, 08:33:13 AM
 #12

Since you said you ve not been here for long i will just give you one word, PATIENCE. Just wait until December and tag me. It's definitely gonna grow just be patient

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September 13, 2017, 08:37:42 AM
 #13

It is tricky when you are new to this kind of business. Time always seems to be running out, forcing you to make quick decisions.
But with having bought at 4600, I would not worry too much. At least not on the long run.
Don't let irrational emotions fool you. The market is unstable at the moment, but when things are a little more clear again, it will get back on track.

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September 13, 2017, 08:42:03 AM
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dont worry!
bitcoin is a long term investment and you will be happy in a few years.
will come other mistakes...on your first trades!
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September 13, 2017, 08:45:11 AM
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I'm sure bitcoin will go up like it always does. As long as you hold it, it should be fine
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September 13, 2017, 08:46:22 AM
 #16

Put it in a long term wallet, delete all bitcoin related bookmarks and set an alarm for next spring to check on progress.

Some of us bought at the $1300 high a few years ago... And eventually it worked out.

Ignore all these "traders" who "know the market". They are coin flippers. Some are lucky gamblers who think they are skilled. Some are unlucky gamblers who understate losses.
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September 13, 2017, 08:47:26 AM
 #17

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

there is nothing more encouraging than looking at the charts. open a bitcoin chart and then start panning to the left as much as the chart goes. look at each time price takes a dive. there has been someone like you who bought on top of that dip without exception, so many of them sold and never bought back, some sold and bought back again at the bottom, some held. I think you can guess who is the winner today.

here are some of the similar dips: https://bitcointalk.org/index.php?topic=1935374.0;all

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September 13, 2017, 08:47:44 AM
 #18

Do not worry too much, bitcoin price will return $ 4600 soon and up very high,
Calm
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September 13, 2017, 08:53:00 AM
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Dont worry if you bought bitcoin at 4600 dollars becayse even bitcoin price decreasedfor sure it will increased again after few weeks it will back again to the highest price and maybe it will be high to the current price. As of now the price of bitcoin is 3980 dollars and its time to buy bitcoin and for sure it will increase again . So if you buy today holding after weeks or months for sure you will earn profit

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September 13, 2017, 08:55:59 AM
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I belive price will come back 3k6$ soon. In 3 day. brace your self. But it's will recover soon. Hope so

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September 13, 2017, 08:59:45 AM
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Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
Wow, that's a lot! For me, don't sell it yet just hold it for now and wait for the price to go up. I am still certain that next year and for the coming years, bitcoin will still continue to rise. It will recover soon. Don't worry, everything will be alright. Just keep updated with the price and the updates though.

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September 13, 2017, 09:00:01 AM
 #22

Hold on to it and if the price keeps dropping buy some more if you can afford it. I bought my first at €800 and then the price dropped to around €300. Bummer, but I bought some more and when the price went back up to €500 I would have been able to make a small profit by selling them. I haven't sold any BTC yet. I thought I was late to the party in 2013.

In the mean time, make sure your 1 BTC is secure in a desktop wallet, read the manual of your wallet, know how to backup and restore your wallet. Seeing the price drop is bad, losing your BTC because of a computer crash or virus or because the exchange gets hacked is the worst.
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September 13, 2017, 09:03:29 AM
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That's my advice to you and to everybody who became in the same situation and feel a little bit of panic. All this news around China are actually not proved and no one exchanger has not announced yet about it's closing, everything keep working. When this period will pass bitcoin will continue it's raising. It's not the babble yet  Wink
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September 13, 2017, 09:06:04 AM
 #24

Most people who would be worried about this news and price dip are those who are still new to bitcoin. But you got nothing to worry about, just keep and hold the bitcoin that you have. Be patient and wait because you are sure to recover your loss and gain some profit when bitcoin increases in price again. Just think positive and don't bite the bait.

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September 13, 2017, 09:10:03 AM
 #25

I bought some at 4200 and little worrying too for now  Cry , but we got strong support at 3900 recently Cheesy
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September 13, 2017, 09:10:29 AM
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OP, my advice to you is for you not to have a shaking or doubting mind, the price now is $3900, yes but don't just rush in and sell.
In BTC business or investment, you should learn one thing which is 'Patient'.
You leave and highly secure your bitcoin for a month or two. You will recover and have your gain by then. Smiley

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September 13, 2017, 09:13:55 AM
 #27

Well, if you didn't buy that BTC with money you can't lose, than I suggest you wait, because I think bitcoin's price will rise again, and pass thos $4600 with which you both the BTC.  It's better you stay a holder if you have not much to lose.
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September 13, 2017, 09:25:18 AM
 #28

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

If you believe in bitcoin then all you can do is ride it out. Many of us have been here when people were saying the same thing about buying bitcoin when it was $100/500/1000 and panicking when it fell. You could just try trading with that bitcoin by buying and selling at the lows and highs but I personally would just regard it as a long term investment but as with any investment nothing is guaranteed.

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September 13, 2017, 09:28:11 AM
 #29

I'm a bit worried myself. On some strange level a part of me is excited. I think that part of me enjoys the thrill of the ups and downs of Bitcoin. If it collapsed, I would be devastated. You must feel pretty awful buying at $4,600. I can understand that. I bought at $2,200-$2,500ish so it doesn't feel as big of a deal since I'm still technically up. I think in the long run Bitcoin will be successful. Hang in there and you should be fine.

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September 13, 2017, 09:30:49 AM
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that is why it is recommended that you should split and buy, like if you want to buy one BTC then start buying 1st only 0.2BTC and when there is more price decrees you can go for another 20%. so like this your buying price will get averaged. and you will be getting opportunity to buy in low, this is the best option to invest in crypto currency  
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September 13, 2017, 09:31:30 AM
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Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

You have been lurking in the forum for a couple of months? that's not enough go further and check bitcoin history, so many fake news fuds trying to take down Bitcoin, consider what your holding as a long term investment so far there's a lot of winner investing in Bitcoin and a lot more sorry stories for not holding and trusting bitcoin enough.

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September 13, 2017, 09:31:50 AM
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Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
You should not worry at all and as you said you are not the only one who do have this kind of emotions or even regrets on purchasing bitcoins price on a high point.Even those experienced people do also commits these mistakes but eventually they dont easily panic since most of them do know that price will eventually recover up later on which we can really tell ourselves not to worry but if those funds if yours are your savings or fund being used for priorities for sure you would really worried too much.

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September 13, 2017, 09:33:32 AM
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Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

I must be sincere that it will be a little difficult to tell you to hold on because even me, I was surprised when I saw the thread that I had to go check the current price but was surprised to see the amount of hit that the price has gotten even after showing some form of recovery in the past days to have gone below $4000.

At the same time, the reason for the crash will be unconnected to the skepticism surrounding the situation of things. News from China, authorities in the field of finance expressing their views on the negative, among others. But I will only enjoin to no join in the band wagon and just hold tight and deny yourself the stress of checking prices now and then because the recovery might not happen any time soon.
At

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September 13, 2017, 09:35:29 AM
 #34

Remember, you only lose money the moment you press the "sell" button. Also, look at each investment choice as your vote that you believe that business/technology is going to succeed in the long run. Do your research and make informed decisions. Smiley
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September 13, 2017, 09:55:04 AM
 #35

Well, I think you must decide what you really want to do with your coins, and how you see them. Do you want to trade them, and try to explore the volatile crypto market, or you bought them as an investment, and are thinking what the price will be 3-5 years from now. I see myself as a holder, so I really don't care about all these fluctuations. Yes it would be better if you bought them bellow $4k, since they keep going there, every time China opens their mouth, and everyone starts to panic sell.

My words of encouragement to you are: put that BTC in a safe wallet from which you own your private keys, and hold it. There will be a halve in 2020, so the price will probably double by them or more. Also, it's expected for the wall street guys to start moving into bitcoin during 2018, so you will probably see a big rise in the price as well. Also don't forget that BTC has a coin cap, that will take a while to reach of course, but this means that for that reason alone, the price should rise, if they remain popular. I all wished we bought our coins when they were worth pennies, but we didn't, but this is still recent, so I think you still got them for a good price, so don't worry.

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September 13, 2017, 09:57:07 AM
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Do not get worried in buying bitcoins. You are just preparing yourself for your future. I think that you should be happyrather than being sad. Because bitcoin will journey to the moon and you will surely love it/

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September 13, 2017, 09:59:17 AM
 #37

I feel you! I bought a similar amount over the past month at an average of $4,200. I was doing okay but then bought some just before last weeks crash and then again before this one. The ICO ban effect I was fine about, it was always going to happen and the price recovered quickly. This one however I am much more concerned about. I am quite deep in the red overall and I cannot understand why the recovery has been so slow compared to what happened last week. There doesn't seem to be much upwards action or positive news coming out at the moment. Even the most positive people are waiting and riding out the storm this time whereas last week they were buying the dips and bringing about a speedy recovery.

I know this has happened before but there is just a sense amongst a lot of people I have spoken to that this is going to be a big test and that more bad news is around the corner... Now obviously no one can predict what will happen. We may see a recovery in the next few days. However if everyone is waiting for more news and HODLing then it means few are being defiant and buying which will inevitably lead to further reductions in price.

Rumours, if anything are worse than solid news. If China just banned exchanges we'd probably be at $3,000 but recovering by now however the because of the rumours we're holding out at $4,000 and barely moving from there. A negative announcement therefore will have significant effect as the starting price will be lower.

Overall I am positive in the long run. I cannot see how BTC and other cryptos can be killed off or be knocked back too much more however their strength is certainly being tested right now and there desperately needs to be some kind of widespread positive news to rev up the engines once again.

My overall prediction is that the rest of the year will see a continued decline overall, a trap that BTC has so far avoided apart from in the early days. However after that there will be slow and steady recovery... Maybe lows of $2,500 rising back up to $5,000 through 2018. I'm holding regardless and will continue to use the portfolio I currently have to look for opportunities to soften the blow and bring about some nice gains in the future once it all calms down.

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September 13, 2017, 10:04:40 AM
 #38

I bought some at 4200 and little worrying too for now  Cry , but we got strong support at 3900 recently Cheesy

You don't need to worry about these short-term dips. Just forget about your holdings for the next 2-3 years. Anyway November 2017 is not very far away. Once the 2MB block size is implemented successfully, the prices will move past the $5,000 mark. The FUD about the exchange ban in China, and the statement from the JP Morgan CEO won't be able to push down the exchange rates for very long. They will be forgotten after a few weeks. But please store your coins safely and securely.

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September 13, 2017, 10:10:56 AM
 #39

Well. The price is plummeting right now, and I think it will continue to gently decrease over the next few months until the next piece of big positive news arrives.

Just hold. I did kinda what you are thinkig about and sold out at $400 per BTC. Now at these prices (~$3900) I'm only just back to where I was (BTC balance wise) after months of playing with the forum and a few lucky breaks. Bear in mind I still only have 0.07-0.1 BTC.

This forum can make you Bitcoin. I left for a while. I came back with $20 worth and now I have around $300 for a bit of my spare time over the past few months. I genuinely beleive I will make myself 1 BTC within the next year at the rate things are going (which in fiat, is a terrible wage where I live) - and I wont be selling it.

Dont sell. Trust what people tell you.
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September 13, 2017, 10:13:26 AM
 #40

don't worry just hold your bitcoin I'm sure it will increase $5000 in next month or maybe in next year if you set your goal in $6000+ just don't panic sell.

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September 13, 2017, 10:15:30 AM
 #41

I know all of them will advice you to just hold on to it because that's the only you have right now.. You can't just sell it and regret about doing it the rest of your bitcoin life.. So hold on to it as long as it takes to makes a profit at that way you have the possibility to profit than losing some few hundred dollars at this time.. Don't panic in due time you would be immune to it as others do..

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September 13, 2017, 10:20:37 AM
 #42

I must admit buying one Bitcoin at the rates of $4600 USD from the market is quite high, but bitcoin volatility is huge if you compare it with other traditional investments, as long as you don't sell away your bitcoins below $4600 USD, there is always a chance for bitcoin values to hit another high record, and you will earn some profit from it if you are patience enough to hold your trades for now.
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September 13, 2017, 10:21:08 AM
 #43

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Depends. If you want to hold Bitcoin as a long term investement, you shouldn't care about the ups and downs. Rather buy more when the price is low and turn into a true HODLER.
If you are trying to make a quick buck, you might be wrong at Bitcoin.

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September 13, 2017, 10:30:23 AM
 #44

No need to panic because of this. It already happened a lot of times before. I'm pretty sure that there are also lots of people out there that bought Bitcoin on a high price and suddenly there was a price drop. Some of them held their Bitcoin and they are happy now because they gained a huge profit. Some of them started to panic and sold their Bitcoin thinking that they might lose more if they will still hold it. Always remember that no matter what happen, Bitcoin has the chance to recover in the future. Keep believing on Bitcoin and I'll assure you that you will never regret it.





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September 13, 2017, 10:30:37 AM
 #45

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Oh, that's unfortunate. If only you've bought earlier like mid-August you could have gained 2x of your investment. Or maybe even waited until this week of September, you could have bought for a lower price. But seeing that you're new in bitcoin, if I'm not mistaken, I couldn't blame you for waiting a month before investing. It's a must for investors to test the water first before diving in. In fact, when I was a newbie in cryptocurrency I've waited for 3 months before I actually tried it. But don't you worry there's still hope for your investment. No matter how low btc gets don't you ever sell it. The bubble will eventually come again you just have to wait for a little while. If you are gonna ask people here how long they've hodl (hold) their btc you will be surprised that they did for 4 months and even for a year. And they reaped what they sowed. Just hang on there and you'll be fine there's nothing to worry that much because this dip is normal and healthy for btc.
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September 13, 2017, 10:36:51 AM
 #46

It is okay to worry as it is normal in all currency to go up and down but there is nothing really to worry about as there is a promising future use for bitcoin. It might even hit its all time high soon enough.

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September 13, 2017, 10:40:50 AM
 #47

Patience is key especially in crypto currency world. My advice for you is to remain patient and hodl for a long term. See this your recent purchase of Bitcoin as a longterm investment as soon as the market gets bullish again you will begin to see profit.
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September 13, 2017, 10:41:24 AM
 #48

Oh wow. Getting 1 Bitcoin off the bat. You have balls, sir, if nothing else. It's a huge amount of money, and I personally would have put in less, but different strokes for different folks. Still, though, I wouldn't panic just yet. It will recover like it always does. It's just bad luck on your part to have invested immediately after a crash.

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September 13, 2017, 10:46:17 AM
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Hey guys, new member here Smiley I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget. I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent. Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows. Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

I fully understand how you feel...we are all humans and we worried if there is that possibility that we can lose anything especially in the area of investing. Yes, I think you made it to Bitcoin at the wrong time with that news coming from China on offering ICOs within the country. And then here is this persisting rumor that eventually China will also ban the operation of Bitcoin exchanges (though Bitcoin itself may not be ban at all and P2P transactions can be allowed).

However, I am suggesting that you do not entertain the idea of cashing out or converting your Bitcoin to other coins as that can be counterproductive in the long term. Eventually when all of these news coming from China would wear out we can see that Bitcoin will slowly inch its way up. It is just a matter of time and not really a matter of if.

I am hoping that you are part of the club that is really believing in Bitcoin and would continue to HODL what we got...let's just ride this storm as it will surely pass away...and then sunshine would come in to give us new reasons to celebrate again.

Long live, Bitcoin! We hodl...we are good!
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September 13, 2017, 10:47:05 AM
 #50

You buyed just when it got on the top of its price. That is a beginner mistake. Think if you would research a little and wait till now, you could buy 1 bitcoin with 700$ less and you would be closer to make profit in future. Anyway, I think there is absolutely no reason to worry. Dont panic and keep your bitcoin in wallet for future. Its price is going to double in next 2-3 years

That's not really a beginner mistake as he had no clue of the market would drop to below $4000. What if he waited and waited for it to drop and Bitcoin went to $7,000 instead? He had no insider info that China would all of a sudden want to ban ICO's
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September 13, 2017, 10:52:21 AM
 #51

dont worry guys. because i believe that the price must be increases
just hold until in the end of this year. and im sure that you can get the much profit.
just be patient bro

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September 13, 2017, 11:22:51 AM
 #52

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Lesson learned, it's always better to be greedy when others are afraid, but only when others are afraid. Smiley The trouble, of course, is telling the difference. Buying on a rush of bullish sentiment on seeing the $5000 mark is an easy mistake to make, you don't want to miss out on all the profits. That makes you become one of the profits, unfortunately, at least in the short-term. If you're confident enough about your trading abilities, you can sell and try to time the market so that you buy back in when it's rebounding; that could work out great, if this bear run reaches its projected low at $3164, or not so great at all if it's nearly done already and you end up buying high after selling low. IMO now that bitcoin has broken out of its recent "coil" formation (several days of higher highs and lower lows) to a more standard bear market formation of lower highs and lower lows, we can be fairly confident that it's going to last at least a little while, but the question is how much further it's going to fall, or for that matter if it's going to fall further at all. The news that North Korea is using bitcoin to avoid UN sanctions could cause more regulatory hammers to fall, in which case it would probably crash pretty hard as people take their money out for fear of having it trapped in exchanges that are shut down - breaking news of China's ban on exchanges being just a rumor after all, on the other hand, might very well restart the bull market. Obviously I'm not confident enough in my trading abilities to time this market. Tongue

If you're willing to lose what you've invested, keep holding on. This is not an uncertain market caused by community differences, which can be easily solved just by bitcoiners agreeing; this is the point where bitcoin is drawing lots of notice from the powers that be. If they don't decide that it's too inconvenient and crush the burgeoning enthusiasm with regulatory burdens beyond what's necessary, it has a lot more growth potential. If it's wrapped around with lots of pointless red tape, or just banned entirely from even more major exchange countries, it could end up being worth the paper it's written on. That's a choice only you can make as an investor. Ideally, you already made that choice before investing, but of course it's easier to make that choice when everything's sunny and it looks like you'll end up being another of the overnight millionaires you hear so much about. What you don't hear as much about are the people who supplied those millions of dollars to the market's liquidity and then ended up cutting their losses early, because they were afraid of losing it all. This could be another of those situations very easily - it only takes a little bit of different news to change people's moods about speculative markets, given the herd mentality you tend to see with these things. If you read back in the forums, people had this discussion every time bitcoin hit a new high - is it time to sell now? Is this as far as it'll ever go? It wasn't, obviously. Personally, I'm holding on to what I have, but I'm not quite confident enough that this is the end of the bear run to buy more. Dunno if it helps you at all, hearing about why and how I'm ambivalent. Tongue It's not an easy choice, if you care about losing that initial investment.
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September 13, 2017, 11:33:09 AM
 #53

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
As a first-timer in the world of cryptos, you should have asked for suggestion first before buying bitcoin, especially that the bitcoin price is too high these days. I think, you've just made the WRONG MOVE for this year since you bought a bitcoin at the time when it is on its peak price. Well, you have only two options for now: its either you'll trade your 1btc to other coins, or save it and wait for btc price to rise up. But be sure to watch the price of other coins so that you'll be able to gain profit.
istake
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September 13, 2017, 11:44:35 AM
 #54

Hi

You need to look at the value you have right now forget how much bitcoin you have for a minute. That would help you understand my next statement. This is only my advice as you seem like your not really cut out for this. First of all you have to be very vigilant jump off the horse now, i mean sell if you think its still  on a downward slope, then as soon as it starts to climb or reaches the value you sold it for jump back on. With that method if you are lucky you could end up paying $3000 for a bitcoin. Now there are various factors like buy sell prices, and whether you think its still going to go down lol yh I never said it'll be easy but if it goes back up at least you limited your loss.

Please do your own research, this does not constitute as any sort of investment advice. Its merely an opinion.

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September 13, 2017, 11:46:29 AM
 #55

You basically bought at the all time high. Right now you're best bet is not to react emotionally to the price and not try to time the market especially when your so new to the crypto market.
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September 13, 2017, 11:50:38 AM
 #56

You should buy more now while it is on discount. Then when it goes back above 5K next week you will be up even more Cheesy
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September 13, 2017, 11:51:13 AM
 #57

This happens, just hold on and keep faith - it'll rise again, always does. You'll still make profit, keep calm and don't panic sell. Even if it drops to $3k, it's not worth it...been there, done that, lost a wedge in the process.

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September 13, 2017, 11:58:03 AM
 #58

You buy btc at a very high btc price. It may take a few days for you to benefit from the btc you have now. My advice do not give up by time and bitcoin price if there is a decrease in price keep hold btc until the price goes up and you get profit. Because btc is the strongest currency in the world remember Smiley

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Prince8
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September 13, 2017, 11:59:56 AM
 #59

Emotional intelligence

Thats all you need
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September 13, 2017, 12:03:45 PM
 #60

Hold them for more then 2 months and you'll see profit!
The ICO ban from China is actually not very significant for the future. China banned ICOs 3 times since the beginning.
They only banned the Exchanges, so not the Bitcoin it self. Which means that China is saying: we don't like bitcoin, but we`re too afraid of it to put up a real fight.
In my opinion there will be coming many adjustments from China, and in which way they are going to handle Cryptocurrencys.
But at the end the ban will be soon gone, and your money will come back sooner then expected.  Grin

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September 13, 2017, 12:06:48 PM
 #61

Just look at it this way: Did people that buy at $1300 back in 2013 feel really bad for a long time? yes they did.

Do people nowadays dream to buy bitcoin at $1300? yes they do.

In Bitcoin you never lose money if you are patient. Sooner or later the price will go higher than where you bought at, you just need patience, and most people simply aren't cut to hold long term on the red. Don't be the guy that sells at a loss.

21 million bitcoin. 7.5 billion people. Do the math.

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September 13, 2017, 12:13:12 PM
 #62

The situation of bitcoin today is just normal. Do not panic. It happened only because some people sell their bitcoins when its value was high. Because of this situation, investors on bitcoin will increase. Thus, bitcoin's value will continue to increase. Just keep holding. Do not ever sell your bitcoin because that will be a huge loss for you.

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September 13, 2017, 12:24:06 PM
 #63

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
Words of encouragement? Don't be nervous and keep calm. If you're in with long term in your mind, don't let this small fud take away your rationality. There's a lot of fud lately and this is not the first time. Let me remind you the last time fud happen, the price down to $1800 and after that? the bullrun to $5000.

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September 13, 2017, 12:24:22 PM
 #64

At least you can admit to and recognise some of the emotional play involved when entering Bitcoin as a newbie. Assuming you didn't just dump your entire life savings into that 1 BTC, you should just take a backseat and enjoy the ride. If Bitcoin's price history is anything to go by, it won't be long before $4,000 is the new safety net (yeah, sorry, it's at 3,800 now!). Even if it takes a year for it to recover to $4,600, that's a worst-case scenario and it's no real loss to you, seeing as that $5k is a possibility close (in the medium scale!) at hand.

I know I wish I were able to buy more often, and each dip like this current one makes me rue the fact I don't have cash on hand even more. Do stick around, stay active, contribute. Then when prices recover we can all get excited again.

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September 13, 2017, 12:25:31 PM
 #65

Do not make the newb mistake i did earlier in august (around the 16th ou 17th), when i bought some BTC near it's ATH and sold it when it fell almost 1000$ lower. Because when BTC rose again and hit 5000$ the following days, i almost cried !

BTW i bought some more at 4100$ yesterday, and now it's 3800$ ? Oh my... Cheesy

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September 13, 2017, 12:35:33 PM
 #66

I should concede getting one Bitcoin at the rates of $4600 USD from the market is very high,No need to freeze due to this.But bitcoin unpredictability is enormous in the event that you contrast it and other conventional investments,I'm almost certain that there are likewise heaps of individuals out there that purchased Bitcoin on a high cost and abruptly there was a value drop.As long as you don't offer away your bitcoins underneath $4600 USD, there is dependably a shot for bitcoin qualities to hit another high record, and you will win some profit from it on the off chance that you are tolerance enough to hold your investment for the time being.
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September 13, 2017, 12:42:50 PM
 #67

Also remember a few people have a lot of coins and can easily manipulate market prices.
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September 13, 2017, 12:48:01 PM
 #68

...from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

It seems you already know how to encourage yourself and thats good. Let me just support you by saying you're right because you should just hold for 5-10 years and value will surely come back and skyrocket.

I have that same "need" for bitcoin feeling and I deal with it almost everyday. It seems you've done your research well so what I say to you is CONGRATULATIONS. You've made a good investment and as with all investment, all you need to do now is wait.

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September 13, 2017, 12:51:47 PM
 #69

Also remember a few people have a lot of coins and can easily manipulate market prices.
But not possible on Bitcoin.You cant manipulate bitcoins price so easily it might be possible on some coins but not on BTC. Being worried on these times are only being felt by those newbie in the market of bitcoin or on crytpocurrencies on which they didnt really expect for the prices to go down lower than on the time they do buy their coins.It does happen,not only you is experiencing this but all the traders and investors too.

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September 13, 2017, 02:23:32 PM
 #70

I mined my first Bitcoin (through LTC) but I've bought most of them, at all prices until 2200€ in May/June, I ran out of money to buy more. So far so good, but I won't sell any before 10000€ anyway, unless I find a way to earn BTC instead of buying.

Don't worry about up and downs, but try to always have some fiat on hand to buy the dips.

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September 13, 2017, 02:31:17 PM
 #71


I am a coder not a trader/investor but would support you,keep calm.
You will profit more eventually. Don't panic and be in good health.
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September 13, 2017, 02:39:53 PM
 #72

I made the mistake of going all in at around 3900$ expecting it to rise after the first reports. Somehow, more reports have been released and price has dropped for a week at end.

Took a gamble and sold all off with a loss of 300$ per coin at 3600$, bought back in at 3100$ today.

I dunno, the rise and fall is weird and unpredictable. I held it for so long expecting it to rise but eventually I just had to sell it off, it is a tough decision
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September 13, 2017, 02:46:09 PM
 #73

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
Well, since you sounded like you are in a panic, I advise you to sell your "1 BTC" immediately. You know I was here since January but until now the most wealthy people that I know who were newcomers to BTC would watch the price for at least 6 months before they totally decide to buy huge amount of bitcoins. Most of them will only buy as little as $100 worth of BTC to start with. Then suddenly I met a brave soul like you my gringo, you had only started watching bitcoin in August and then bought 1 BTC after a little while. Brave! Very Brave!  Grin

Sell now, gringo! sell now! jajajaja!
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September 13, 2017, 02:50:14 PM
 #74

If your set for a long term investment then there is nothing to worry, In fact, this is actually a right time to purchase more bitcoin since the prices have drop at now $3900. Hold them by at least 3 months and you'll start to see your profit. I suggest that you read more about bitcoin, it pros and cons, the factors affecting its value and other information so that you will have more knowledge and gain more confidence in your investment.

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September 13, 2017, 02:54:42 PM
 #75

If your set for a long term investment then there is nothing to worry, In fact, this is actually a right time to purchase more bitcoin since the prices have drop at now $3900. Hold them by at least 3 months and you'll start to see your profit. I suggest that you read more about bitcoin, it pros and cons, the factors affecting its value and other information so that you will have more knowledge and gain more confidence in your investment.
After btc-e back people will dump more bitcoin. Price can fall down to 3k6 before recover to 5k$

I have pretended to be mentally retarded for seven years.
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September 13, 2017, 02:58:53 PM
 #76

This is actually a good chance for you to increase your investment now that the price of bitcoin drops, don't worry to the dropping of bitcoin value to now $3900, hold and you'll see comeback in price as early as 1 month and will continue to surge until the end of the year

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September 13, 2017, 03:17:41 PM
 #77

At least you can admit to and recognise some of the emotional play involved when entering Bitcoin as a newbie. Assuming you didn't just dump your entire life savings into that 1 BTC, you should just take a backseat and enjoy the ride. If Bitcoin's price history is anything to go by, it won't be long before $4,000 is the new safety net (yeah, sorry, it's at 3,800 now!). Even if it takes a year for it to recover to $4,600, that's a worst-case scenario and it's no real loss to you, seeing as that $5k is a possibility close (in the medium scale!) at hand.

I know I wish I were able to buy more often, and each dip like this current one makes me rue the fact I don't have cash on hand even more. Do stick around, stay active, contribute. Then when prices recover we can all get excited again.

This is the best advice , don't sell now for a loss just sit it out and see the stupid people panic sell.
Price will go up eventually.



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September 13, 2017, 03:25:51 PM
 #78

You can try to convert your 1 BTC to some promising alts or new upcoming ICOs with the idea to make more btc. If you will be carefull enough and will spend time to investigate the market it will work well.

Dont fall to panic sell or panic buy. Never.
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September 13, 2017, 03:34:02 PM
 #79

Just look at it this way: Did people that buy at $1300 back in 2013 feel really bad for a long time? yes they did.

Do people nowadays dream to buy bitcoin at $1300? yes they do.

In Bitcoin you never lose money if you are patient. Sooner or later the price will go higher than where you bought at, you just need patience, and most people simply aren't cut to hold long term on the red. Don't be the guy that sells at a loss.

21 million bitcoin. 7.5 billion people. Do the math.


I agree with you, the key is patience. long-term investment is the thing that most test your patience. and I'm monitoring the bitcoin development of late, china is a real rumor. I am still waiting for a few months until I'm sure I bought bitcoin.

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September 13, 2017, 03:50:05 PM
 #80

It's a third crash like this for me and I'm pretty calm. I learned not to check the price every 30 minutes because it only stressed me more!
Keep calm and buy, that's the ultimate advice Wink I'm not even plugging in my Ledger because it shows the countervalue and it distracts me.

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September 13, 2017, 04:07:10 PM
 #81

Dont you worry pal, because even though the price of bitcoin goes down now it will still increase in the future. Like what happened in July bitcoins price dumped as low as 1850$ but after that the price of bitcoin surge upwards upto 4K+$ so dont worry just hold your bitcoin as long as possible so that youll earn alot of profit in the future.

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September 13, 2017, 04:10:57 PM
 #82

I think in this case you have to make a very wise decision to make your investment work. I suggest you be patient and do not panic sell.
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September 13, 2017, 04:11:59 PM
 #83

I'm also a newbie, more interesting in all this, is the proportion that Bitcoin is reaching, (from the big media to the personal reality of each one) Smiley

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September 13, 2017, 04:13:30 PM
 #84

I would be worried buying BTC that high as well. Nothing ever goes up in a straight line, we have seen this time and time again in history. A slow climb higher is way more healthy for a long term market.

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September 13, 2017, 04:15:25 PM
 #85

It was barely 1k even early this year. It trends upwards over time, and quickly at that, but it's hardly a straight line.
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September 13, 2017, 04:18:26 PM
 #86

I'ts time for 3k$ crash.

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September 13, 2017, 04:19:36 PM
 #87


I think buying at that price is very risky though it is likely that bitcoin prices will go up. but why not wait for the price to go down at the lowest price
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September 13, 2017, 04:22:54 PM
 #88

You know, I also bought bitcoin for that price. Don`t worry, it`s just beginnig Smiley

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September 13, 2017, 04:26:45 PM
 #89

Any words of encouragement?

I would start by asking you the following question:

Do you know when low is low and when high is high?

you do not know.

what can you do?

To be a day trader, you need to know technical analysis.

being a long-term trader you will need faith since bitcoin is used in real life and there are not many countries that accept bitcoin as a form of payments so you just need to think like this:

what will happen when all the countries of the European Union, Africa and America accept bitcoin as a means of payment to pay for electricity, water, telephone, to buy goods and services. the price will be much more than $4600


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September 13, 2017, 04:29:25 PM
 #90

Not to worry, Bitcoin will survive just like always.

If you look at the Bitcoin chart, the price go up and down.

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September 13, 2017, 04:32:20 PM
 #91

just trust BTC that will pump and not only you but so many of us are believing on this ... dont worry it will rise again and will reach the 10k USD at the first month of 2018.. but theres one thing i think you did .. you hit buy on the 4600 so fatsts .. it was the highest value by that time .. and when BITCOIN reached that 4600 as i remember it went dump to 3600.. am ii correct ? if you are on investment/savings you should wait and dont worry but if you are just trading wow dude you lost a lot




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September 13, 2017, 04:37:42 PM
 #92

Chill, man. $3,775 Smiley
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September 13, 2017, 04:48:09 PM
 #93

Lots of nice words, some silly ones too, in this thread.

Reality is just a little simpler yet more complicated.

You bought "high", as in you bought during a bullish moment of growth. That's only a mistake in some very specific cases, so unless you used your rent/food money to buy those coins, and unless bitcoin died tomorrow (hint, that won't happen), you did fine. Not brilliant, but fine.

Now how to deal with the current collapse (other hint, you've not been in a crypto crash until you lose 60-80% of your potential value)?
This answer is where the simple yet complicated decisions come, and it's up to you.

Did you use money you needed in order to live to invest in bitcoin? Sell, now, at a loss, and don't come back until you've got money you can afford to light a cigar with.
You will rot your blood if you play with money you need to live off.

Did you buy these coins with a large fraction of your "superfluous" wealth? Then hold tight onto them, chances are very high that eventually price will increase above and beyond your entry point. Is it guaranteed? nope. Do we have a timeframe? Sure. Something between a day and a decade.

Do you have a considerable amount of superfluous funds you are interested in using to invest? One possible strategy is to lower your break-even point by purchasing additional BTC at price-points lower than you did when entering. Word of warning, this increases your exposure and potential loss, and needs to be done with care. a possible strategy is to set yourself budgets. Say... I will purchase 0.1 BTC if it hits 3900, then another 0.10 if it hits 3800. then 0.2 at 3500. maybe finish with 0.3 at 2500 and 0.2 at 2000 as placed orders in case of a full correction or flash crash.

These are just some of the options you've got. Just keep in mind that if the value of bitcoin worries you, you're playing the game wrong.

We all need to be here with the knowledge one day our crypto networth might become irrelevant, valued at 0. This resignation is what lets you act rationally and clinically when investing. Also, and learn this quick, never keep all your eggs in one basket. you win some, you lose some. be sure to always have something else.
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September 13, 2017, 04:52:09 PM
 #94

   
Just look at it this way: Did people that buy at $1300 back in 2013 feel really bad for a long time? yes they did.

Do people nowadays dream to buy bitcoin at $1300? yes they do.

In Bitcoin you never lose money if you are patient. Sooner or later the price will go higher than where you bought at, you just need patience, and most people simply aren't cut to hold long term on the red. Don't be the guy that sells at a loss.

21 million bitcoin. 7.5 billion people. Do the math.
oh i think it is not good to buy it at that price, i think now is the good choice to buy it. because we need to buy bitcoin in small value then will sell it at high value in that case it will be good enough that we will wait until bitcoin slightly drops its price, in that case it is suitable for us, we can buy that in small price, it is good to buy bitcoin in small price, so that we can sell it and have a profit on it when it increases.

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HODLwearz
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September 13, 2017, 04:52:47 PM
 #95

HODL.... if you bought in order to flip it for fiat gains, then you're in the wrong place and misunderstand what cryptocurrency is about.

You wanna make fiat? Go to the stock market...

http://hodlwearz.com
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September 13, 2017, 04:55:43 PM
 #96

It's always the same -- when the price continues to increase rapidly, people are extremely bullish and throw with $10,000 predictions, but as soon as the market is heading down, these bullish thoughts are gone. People get distracted far too easily, and that directly shows that they landed in the wrong place. Situations where people buy at near peak levels are quite common, but the most important thing is to stick to what you did -- panic selling is never a good idea. Instead, use the lower rate to buy more coins and get your initial purchasing price to decrease this way.

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September 13, 2017, 04:58:07 PM
 #97

I must say I was surprised when I saw the price today of ~$3800 (preev.com) but you have absolutely nothing to worry about, price will be back up soon. We've had corrections, bubbles, price dropping by a significant amount afterall. Hold what you have and wait, the price will go over $4600 for sure.

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September 13, 2017, 04:59:26 PM
 #98

I feel you man, I invested some more fiat after this first dip, but the dip kept dipping, I'll just hold for now, it was extra funds made from other trades so no harm done...
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September 13, 2017, 04:59:35 PM
 #99

It is interesting to read these comments.

Sounds to me, that most writers are super duper  optimistic about the value of bitcoin, which is good.

You should remember that a few months ago bitcoin had NEVER been over 4000$. We have just had an all time high for bitcoin.

I think it is perfectly natural, if bitcoin would go back to 2500$ level for a while. It wouldn't even be a "crash" if you can look with a little longer time-frame.

But in the long run, if the bitcoin scaling and transfer fee problems will be solved and if governments wont start attacking bitcoin, the price will go back to over 5000$ levels.

My Address: 121f7zb2U4g9iM4MiJTDhEzqeZGHzq5wLh
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September 13, 2017, 05:01:23 PM
 #100

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

OMG, first lesson I always give all, never buy entire Bitcoin at one go, we'll what's happened you can't change it, but you should be strong, currently it's down to China but it's shall bounce back very soon and strong, what I can say is buy small dips of Bitcoin so over a time you shall have a average. Time is difficult but I am sure Bitcoin will rise, it has to rise, I am very positive on this, just be strong and don't give up.

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September 13, 2017, 05:02:39 PM
 #101

wiser person will not allowed to sell a their loss its better to hold it and never to think to panic while the crash is still on going, I might suggest to think
about your position about this investment if you are a long term holder just keep it inside your wallet and stop looking inside exchange do your routine
and stay calm.

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September 13, 2017, 05:03:53 PM
 #102

See it at $3944 now so it is going back up as I think I saw someone say it dipped back to $3800 earlier last night.
It is amist all the fud from china exchanges going down by governments there according to Pboc announcements and also the news from J.P Morgan Ceo saying that bitcoin is a fraud. lol

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hangar18
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September 13, 2017, 05:04:51 PM
 #103

just trust BTC that will pump and not only you but so many of us are believing on this ... dont worry it will rise again and will reach the 10k USD at the first month of 2018.. but theres one thing i think you did .. you hit buy on the 4600 so fatsts .. it was the highest value by that time .. and when BITCOIN reached that 4600 as i remember it went dump to 3600.. am ii correct ? if you are on investment/savings you should wait and dont worry but if you are just trading wow dude you lost a lot
What is reason makes you are sure the price of Bitcoin reaches to $10,000 in 2018? I see you do not have any proof or reason can convince me, your said look like as predict from a dreamer and have a strongly faith in future of Bitcoin Tongue



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September 13, 2017, 05:11:39 PM
 #104

Bitcoin price increase very soon. so definitely you get profit from bitcoin. just hold it!!!

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September 13, 2017, 05:25:36 PM
 #105

Bitcoin gained 400% in this year and gave 13% in a month below 4k but prepare for landing as below 3k strong resistance levels. You got your lesson as investing in piece rather than buying lump-sum amounts.

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MFahad
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September 13, 2017, 05:43:05 PM
 #106

Glad to see you bought 1 BTC and wish you a good luck for your future work. Ok come to the main point did you think about what to do next
before buying btc ?.  Have you any plan for btc ? I Suggest you keep it until the bitcoins go up. Since the China Banned the BTC which takes the BTC down. Just wait for a week or month.

                                 
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September 13, 2017, 05:46:08 PM
 #107

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?
You have bought bitcoin, but just not at the right moment. Now the question to ask yourself is will that money that you spent on bitcoin ,won't cause you any trouble financially Like for compensating your expenses, if not I would suggest you to keep bitcoin for a few years from now don't worry about it at all. The price will go up and down because of many factors, but at the end of the day you don't have to worry.

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September 13, 2017, 05:47:55 PM
 #108

Bitcoin gained 400% in this year and gave 13% in a month below 4k but prepare for landing as below 3k strong resistance levels. You got your lesson as investing in piece rather than buying lump-sum amounts.

Please we do not need worry about the current price dump. If there is any potential adoption or bitcoin investment by whales on it means again bitcoin's price will be reach again to the next peak. I also feel worry because of it and there are so many thread created to speak about this dump today. Nearly 380$ price dumped from yesterday to now.

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September 13, 2017, 05:49:00 PM
 #109

It's like when I bought an $8 bitcoin and then it dropped to $2. What was I thinking, bitcoin could never be worth $8.   Kiss

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September 13, 2017, 05:52:40 PM
 #110

Just hold on to it. Bitcoin will get through all of this. It is just having a correction right now but after weeks it wil be back in the game again.
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September 13, 2017, 05:55:36 PM
 #111

Yes I would also worried if I were in your situation. But don't worried too much you will see your bitcoin value grow soon. but you have to keep your mind cool.

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September 13, 2017, 05:56:11 PM
 #112

...I finally gave in and bought 1 BTC for $4600,...

When you bought your bitcoin, you gave $4600 to someone who probably bought their bitcoin for $40. They are now happy and have your money and probably invested that money in the stock market or put it in a bank account.

You now own a number in a transaction list in a chinese controlled database (chinese miners have a majority of the hashrate and thus control the blockchain).

There is no law that says you ever need to get any value for what you bought. If you get nothing back for your $4600, there is nothing you can do about it and nobody owes you anything. When you deposit money in a bank, you are loaning money to a bank and legally, they are required to give you back your money with interest. When you buy a stock, you own a portion of a company that you hope is profitable and you legally own that portion of the company and it gives you various rights to vote, etc. (depending on the stock).

When you buy a bitcoin, you have no rights. You only have the hope you can sell it to someone else. You might be able to sell to someone for $1000 less than you paid for the bitcoin right now. But maybe if you go to sell on an exchange, the exchange will simply keep your bitcoin itself and shut down as MtGox did. Maybe you'll try to sell your bitcoin on a chinese exchange and the government will block it. Maybe the price will fall again before you sell it. And if there is someone with a billion dollars in bitcoin trying to sell their bitcoin, it will take them years to sell out and the price will continue to drop during that whole time.

I wish you good luck selling the number in a chinese database you bought to someone else for a higher price in the future.

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September 13, 2017, 05:56:37 PM
 #113

The issue is there so many things going on in the Crypto-Currency market right now. From China ICO ban to fake FUDs, to Jamie Dimon of JP Morgan who calls Bitcoin as a fraud. I think bitcoin will certainly recover in time. All you need to do is hold your coin for now because the value will recover in time. Cool

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September 13, 2017, 07:32:02 PM
 #114

i made this stupid mistake twice, buying a lot in one go.

the first time i got a nice profit, but the second purchase (which i made some days ago) is getting bad due to this recent drop

all in all I´m about 10- 15% loss from what i invested, i dont worry so much because i´m hodling for couple of years at least, i just need to get rid of the bad habit of checking bitcoin price daily.... soon i´ll move all my coins to an hardware wallet and hopefully forget about it

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September 13, 2017, 07:39:12 PM
 #115

The biggest mistake is assessing a buy in terms of immediate result. Unless you want to day trade, the only relevant info is, at most, quarter-on-quarter change.

IMHO the fun in bitcoin is in trading (well, with a portion of your coins), but for situations like yours hardware wallet is a good idea. make sure to keep good backups though.
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September 13, 2017, 08:22:11 PM
 #116

From reading other boards on this forum it is only very recent that people were saying bitcoin was headed for 5k and beyond so I would not worry
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September 13, 2017, 08:50:35 PM
 #117

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Dude, never worry if you're not a day trader here. All Chinese do is speculation to make the price o down. Then they exploit other normal people's bitcoins by buying them with cheap prices.

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September 13, 2017, 08:55:49 PM
 #118

Hey guys, new member here Smiley

I've been watching Bitcoin's development since early August this year, and I finally gave in and bought 1 BTC for $4600. I didn't wait because I figured the value could easily break the $5000 barrier at any time, and if the price would suddenly normalize above that level, 1 BTC would be outside my budget.

I probably went OCD on the matter and should've waited instead of having to have 1 full BTC, especially since the ICO-related news from China were still pretty recent.

Anyway: the 2nd wave of news regarding shutdown of local exchanges hit hours after I made the purchace, and the value plummeted (it's now hovering just above $4000, that's a 13% decrease). Lesson learned I guess. I've been lurking on the forums for a couple of months trying to pick up some sound advice from you guys, and from what I've gathered I should stick with holding for 5-10 years instead of panicking. But honestly, it's tough to ride the lows.

Any words of encouragement? Grin I guess I'm not the only one who've had a nervous start in the world of cryptocurrencies. Anyone else feeling like they "need" to acquire 1 BTC before the train leaves the station for good?

Up and down is very common. In the past this happened too, from around $ 500 to $ 100. If you believe that the price will reach $ 5000 someday, then keep trust on your own thought. Keep watching the price movement and if the trend back to positive again, you could buy another bitcoin, hence if the price reached the expected number, you will get more profit.

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September 13, 2017, 09:10:59 PM
 #119

wiser person will not allowed to sell a their loss its better to hold it and never to think to panic while the crash is still on going, I might suggest to think
about your position about this investment if you are a long term holder just keep it inside your wallet and stop looking inside exchange do your routine
and stay calm.
Yeah, i agree with this he should hold it when the price is still on the crash. OP should stop thinking about of his investments, it will make him crazy and go panic. Holding is the best choice if they want to gain a profit for what they had invested.

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September 13, 2017, 09:13:05 PM
 #120

Just like i said a few minutes ago in another thread, you can look at the historical charts, everytime that bitcoin went down, it goes up so hardly, and nothing can stop it. Bitcoin will continue to go up, doesnt matter what, but it has to makes some stops, it can be bullish everytime.
So lets give it some time, bitcoin will recover, but it needs time for it to happen.

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September 13, 2017, 09:14:32 PM
 #121

whatever you do do not sell!
you can take confidence that the value will rise again
there are people ready to buy now at a low price, its a great
opportunity and the price increase will follow.

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September 13, 2017, 09:27:25 PM
 #122

you have nothing to worry about, as i see bitcoin will pump soon and reach $5000, so if you buy at $4600 you just have to hold your btc and wait for it. if it reaches $5000 then you can sell to get your profit or hold it still to earn more in the following days

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September 13, 2017, 09:42:42 PM
 #123

I personally suggest you OP to not sell your bitcoins. Imagine you bought them on 4600$ and now if you sell them, you will see a huge loss. This fall doesn't means it will fall forever, it's even normal because if coin rises it was to fall sometimes. Finally it will rise, it's only time of wait, if you hold them and wait even for year if situation will require it, you will see profit.
Depends on how you can to wait.. Welcome to crypto world..

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fancy_pants
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September 13, 2017, 09:48:54 PM
 #124

you have nothing to worry about, as i see bitcoin will pump soon and reach $5000, so if you buy at $4600 you just have to hold your btc and wait for it. if it reaches $5000 then you can sell to get your profit or hold it still to earn more in the following days

Yes there is nothing to worry as price will recover and get back to normal very soon but OP should not get panic and should have patience to hold it till it crosses $5k mark and if he sells now then he will be making major loss on his investments so instead of selling those coins he should buy some more coins at this price.






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