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Author Topic: Bought my first BTC @ $4600, slightly worried  (Read 7334 times)
jekjekman
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September 21, 2017, 09:51:34 AM
 #161

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?

That is a heart pounding decision for you though, if it was me I am sure I will be depressed and devastated as Bitcoin's price goes low as much as $2,900 almost 40% decrease in the original price that you bought a single piece.

Actually no one can really tells what will happen in the next seconds, minutes, hours.
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September 21, 2017, 10:00:47 AM
 #162

I would suggest along with the holding of coin if you have some extra money start buying some coins regularly. This will help you out to average your cost and make it lower .

In such a way your recover will be faster and also you can earn good profits if you believe in that price is going to rise in coming time.

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September 21, 2017, 10:02:41 AM
 #163

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?

Firstly - dont worry because Bitcoin will break through this
current negative cloud. There is uncertainty in the market
which is driven mostly by misinformation both negative and
positive and also by panic and people driving the panic lower
to buy more at a lower price.

If you feel you can you could always buy another bitcoin at
a lower price like $3500 to lower your average outlay at
$4050
MrCrank
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September 21, 2017, 04:49:50 PM
 #164

Firstly - dont worry because Bitcoin will break through this
current negative cloud. There is uncertainty in the market
which is driven mostly by misinformation both negative and
positive and also by panic and people driving the panic lower
to buy more at a lower price.

If you feel you can you could always buy another bitcoin at
a lower price like $3500 to lower your average outlay at
$4050

You right! I heard today that one man said that need to buy bitcoin today at price below $ 3600 (I forgot name, this is famous)
after price will fast rise. Don't know is true it or not..
In my point of view will be happen.

                             
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electronicash
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September 21, 2017, 05:55:49 PM
 #165


there will be no word of encouragement for me lol dump it if you like and there will be takers. sell orders are going to be filled but so are the buy orders. if you want to learn what is going to happen, try selling it now and set a buy order at $3500 this might ease you out.

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September 21, 2017, 06:38:05 PM
 #166

My suggestion is that you take a chill pill. What goes down, will come up :-). Think long term, not short-term. This time next year the bitcoin price will more likely be higher. Short term volatility is not something to lose sleep over. Think of it as an opportunity to buy.

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September 21, 2017, 06:57:47 PM
 #167

@Fievel
Here is something that might give you a little hope:

https://www.cryptocoinsnews.com/prominent-bitcoin-trader-price-is-heading-towards-100000-in-2018/

My ignore list here: https://bitcointalk.org/index.php?topic=1652334.0 +++ GPG Public key FFBD756C24B54962E6A772EA1C680D74DB714D40 +++ http://pgp.mit.edu/pks/lookup?op=get&search=0x1C680D74DB714D40
haroldtee
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September 21, 2017, 07:01:45 PM
 #168

You have nothing to worry about mate and I am very sure you will be the one telling someone else the same thing very soon. Is there anyone that has never been in your shoes? I guess not! Except for the starters of course who had the balls to invest far back when it was still extremely cheap. If you are still in doubt, you can try going through the history of bitcoin's price since inception, probably that will make you feel better.
Zicadis
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September 21, 2017, 07:04:11 PM
 #169

Apparently it is not only bitcoin that was affected, most altcoins went down to all because of the uncertainty of which the Chinese regulations will influence the crypto ecosystem and the possibility of other countries to adopt and implement similar regulations...but imo its better to hold on to your coins you bought as price could easily raise by a 1000 dollars in a day and allow you to break even.

BJFC1402
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September 21, 2017, 07:07:23 PM
 #170

I'm sure in the long run it's still a ridiculous price. Like now we laugh about 3 years ago when it was 100$
harizen
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September 21, 2017, 07:09:40 PM
 #171



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?

Encouragement? Stick with the idea that bitcoin is long term. No need to based on the recent news and FUD to wreck your expectations. Come on we have reasons to believe that someday another journey to the moon will happened. Sit back and relax.

You are already on the loss but it's not that much with the current price today. Just HODL as you don't have any choice. It's more way better than selling at below your buying price. It's not a wise decision. You already entered the risk then go straight forward by giving some patience. Just let your bitcoin sleep at the moment and don't sell it.

stomachgrowls
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September 21, 2017, 07:09:51 PM
 #172

Apparently it is not only bitcoin that was affected, most altcoins went down to all because of the uncertainty of which the Chinese regulations will influence the crypto ecosystem and the possibility of other countries to adopt and implement similar regulations...but imo its better to hold on to your coins you bought as price could easily raise by a 1000 dollars in a day and allow you to break even.
I was already happy when i do see bitcoins price did hit up again on 4k range but now when i do see again on its recent price we are heading down again 3649 as of writing which do really suck to see these prices on bitcoin but well its still okay i do wait a little bit more for buying cheaper bitcoins because i do know price would really rise up again and for op just hold on to your bitcoin.

Haunebu
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September 21, 2017, 07:13:16 PM
 #173

Don't worry op. You made a smart choice. Bitcoin will reach 100000$ in a few years according to me. Whether you believe me or not, there is a good chance that this will happen. Stay patient and positive.

Simple_Man
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September 21, 2017, 07:16:30 PM
 #174

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?

Yes, you truly have a reason to worry as you are facing a huge loss as per the current market price. However, if you looking at long term, I will ask you start dollar cost averaging procedure. That means buy bitcoin at every dip and hold. The lower the price will be, the more profitable it will become. Also think of longer term. If you are planning to hold your bitcoins for another 2-3 years, I see no reason to worry. You will be rewarded suitably!

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September 21, 2017, 07:18:02 PM
 #175

As of now the price of bitcoin is 3700 dollars and last few hours is 4000 dollars it will decrease 300 dollars. Dont worry if bitcoin price decrease its natural all coin experiwnce dumping and for sure after dumping it will increase again and for sure bitcoin will recover but you need to wait and i think maybe we see the price again 5k dolllars in the month of october. As of now I dont think bitcoin price will hit 5k dollars this month .

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September 21, 2017, 07:22:31 PM
 #176

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?

It's okay, since you already invested there's nothing you can do but to trust bitcoin. Bitcoin is a long-term investment if you want to atleast gain some of your money back you should hold your bitcoin for a long time. Bitcoin will recover but you will have to be patient if you want your money back.

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meliodas
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September 21, 2017, 07:28:03 PM
 #177

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 shouldn't panic, but I understand how you feel since you bought your coin at high price and now it's down to $3000. It already happened in the recent years, so stop brooding about what you've done. All you can do is to hold it till the price recovered. Bitcoin is a long term investment you should hold it for years and see what will happen.

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moataz_ansary
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September 21, 2017, 07:32:29 PM
 #178

So high price but don't worry
may be will go down for bit and will back to 5000-600$
Then 10000$ in next months
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September 21, 2017, 07:45:20 PM
 #179

I bought half bitcoin @ $ 4,500 ....... Only wait to rise.

I hope soon.

Donar: 15CHgocCYGYjBZVhg22bmZida8cUUuNfV4
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September 21, 2017, 07:56:06 PM
 #180

I would suggest along with the holding of coin if you have some extra money start buying some coins regularly. This will help you out to average your cost and make it lower .

In such a way your recover will be faster and also you can earn good profits if you believe in that price is going to rise in coming time.

I think it is a credible idea to start buying more Bitcoin now, but no longer all at once as you did before, instead buy a little and wait to buy more if price drops further to a certain level and you'll turn around to be ahead of the game. At any rate, your first step forward should be the realization that you need trading knowledge and skills to find your feet in trading, else it can be such a pain.

As we warm up for a proposed hard fork in November, the price of Bitcoin is likely to rally above your purchase price before settling lower to await the outcome of the scaling decision. Would not be a bad idea to offload half of your hodl and then followup  the market to buy again after a bottom is confirmed.

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