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Author Topic: Bought my first BTC @ $4600, slightly worried  (Read 7325 times)
Omega Weapon
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September 23, 2017, 07:07:57 AM
 #201

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, you bought near the top and that is a classic newbie mistake, if you are a newbie the best time to buy is when the market has not moved much for some time, some may say that you need to buy the dips but that is a maneuver for a bitcoin user that is experimented because if a newbie did that then he will probably panic if the price of bitcoin kept falling after he bought, now you will need to hold for some months or even a year before seeing any profit from your investment, but do not worry the longer you hold the less you care about the movements of the market.

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September 23, 2017, 09:08:47 AM
 #202

Best way to make an investment when you think the value is at a top value but you are not sure if it will rise or drop is to spread your investments.

e.g. you have 1 BTC, one could consider investing 0.1 BTC every 2nd of a month.
You might miss the biggest gain, if it goes up, but when it goes down, you will buy more at lower value and will gain faster in case of a recovery.
Basically you are buying the avg price of the coin, and after a period of time you will gain the maximum value quicker.

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September 23, 2017, 11:19:43 AM
 #203

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?
The best thing to do is to hold. You already invested money and we all know that investment always involves risk. And besides, dumps and backdrops usually happens because Bitcoin is volatile so fluctuations are expected. The market is down becuase China banned Bitcoin exchanges and ICOs. We are now seeing that Bitcoin is slowly making its way up again after the downfall. We should hope that it will continue until it is back to its state before the dump.

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September 23, 2017, 12:38:59 PM
 #204

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 don't think you made a wrong choice when you invested in bitcoin.
The point of investment might look a bit unfortunate at the moment. But it is in bitcoins nature, maybe even bitcoins big secret of success to be volatile.
The longer you will have your coins, the easier it will be for you to watch the ups and downs of the chart. Just don't panic.

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September 23, 2017, 03:33:26 PM
 #205

Nothing you can do there bud but hold. Most of the mistakes most newbies don't foresee is buying at the recent top. Because of the hype and fomo, almost everyone feels that this could be their biggest break because the price is rising pretty fast. I myself am guilty of this, since I've bought several coins at the top thinking I might snag a few profit off of them.

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September 24, 2017, 01:14:50 AM
 #206

Buying from the $ 4600 level has been a wrong start, and there are a lot of things you need to do right now, or you can bet, or you can save some of the money you've invested to make money.



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September 24, 2017, 01:44:55 PM
 #207

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.
i think there is still some panic in the market which is not letting the price of bitcoin to increase, but still i think that people are giving good support to bitcoin which is not letting the price to fill down from 3000$ and hope that this time again it will bound back from that level and hope that this time it will surely hit 5000$ in a very smooth way.
You're right, the market is lacking in momentum because people are a bit apprehensive about what would become of the proposed hard fork of the network is going to unfold. The proponents of Segwit2x and Bitcoin core are still having divergent opinions and those are sure to rob on the network. Wait n see is the name of the game!

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September 24, 2017, 03:30:30 PM
 #208

Buying from the $ 4600 level has been a wrong start, and there are a lot of things you need to do right now, or you can bet, or you can save some of the money you've invested to make money.
I don't think this to be an wrong decision to buy bitcoin when the price was $4600. You should have known much about the market before investing, if your plan is for long term never get worried. If you thought of making profit in a lesser time, then no other go than just waiting with patience for a price pumping.

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September 24, 2017, 04:34:24 PM
 #209

Just wait some time because it has always grown up after declines, so not to worry that much.
Secondly, don't take any wrong decisions like selling in panic or start trading (if you have no experience) or gambling because these might ruin everything and even worse if you lose them. It was all a planned dump so don't panic and hold tight, because those who hold here are the ones who profit.

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September 25, 2017, 12:20:27 AM
 #210

$4600 bitcoin for your 1st buy is not really good. When the price dump until $3500 maybe would be better for you to buy. I think you are too excited to have bitcoin in that day. Today bitcoin is lower than $4600 which is really not good for you. Try to wait until end of the year.



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Rainbot
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September 25, 2017, 01:11:58 AM
 #211

Just hold on to it don't make a silly decision on selling it, for you might regret it. Be patience man.

talks_cheep
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September 25, 2017, 02:27:55 AM
 #212

It's going to be a long wait for btc price to recover back to $4600. We've entered a bear market, think about it; about a month ago, we were at around 4500, currently we are sitting at 3600. Next month, we will be seeing 2500.

Why? Because of China, simply. Chinese are holding a massive amount of btc and they are going to need to liquidate it all. If you think it's not going to happen, I have a castle in Spain I'd like to sell you.

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September 25, 2017, 03:03:45 AM
 #213

Bought your 1st BTC for $4600? I think thats not a good decision, but we really don't know what will happen next. Maybe you should monitor the bitcoin price from time to time and wait until end of the Month.
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September 25, 2017, 10:35:11 AM
 #214

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.
You are very much right. I will suggest him the very same. I think pump and dump is quite a natural thing. If you are into this business, then you have to make yourself habitual of this thing. The most important thing for is to decide carefully what to do at the time when prices are getting low to avoid any loss.

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September 25, 2017, 06:33:16 PM
 #215

yoy shouls be a bit worried you did buy bitcoin at a really high price but not to worry the price has been rising from paat few days just hold it no one buys bitcoin to sell at a loss it's better if you forget it for a few days and come back later and then check the price so you don't panic

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September 25, 2017, 06:52:10 PM
 #216

yoy shouls be a bit worried you did buy bitcoin at a really high price but not to worry the price has been rising from paat few days just hold it no one buys bitcoin to sell at a loss it's better if you forget it for a few days and come back later and then check the price so you don't panic

Ya you no need to panic now.Today the price of bitcoin is reached around the Value of 3900$.Tomorrow the price of bitcoin may reach the value of 4300$.At this month end the price may reach the value of 5000$.Wait till this month end.you will get 400$ profit for waiting for a week.

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talks_cheep
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September 26, 2017, 03:06:36 AM
 #217

OP is f*cked. It's wise to sell now even with a small loss compared to selling later with a bigger loss. I know of no hodlers who are rich, having 1 bitcoin 8 years ago is exactly the same as having 1 bitcoin today, you just have 1 bitcoin and you will only have 1 bitcoin. That is the sad situation facing a hodler. Their wealth is in their imagination and on paper only. Hodlers are all gonna so f*cked sooner or later.

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September 26, 2017, 11:13:56 AM
 #218

hard to be in your place. Do not check the price during november if you plan on holding. maybe move it before november somewhere where you get the altcoin if it forks.
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September 26, 2017, 12:55:52 PM
 #219

Relax op and believe in btc, you can recover your loss in the right time for sure. Just keep and hold it. Don't sell it atm, you will lose more if you did since you're still a newbie and obviously you know nothing about trading.

If only you're a pro trader, even if you bought at $4600 you can sell it now and take advantage on the $50-$100 swing a day. You can recover your loss fast and make a profit but unfortunately not. So the only thing you can do is hold.
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September 28, 2017, 02:09:50 AM
 #220

Buying from the $ 4600 level has been a wrong start, and there are a lot of things you need to do right now, or you can bet, or you can save some of the money you've invested to make money.
I don't think this to be an wrong decision to buy bitcoin when the price was $4600. You should have known much about the market before investing, if your plan is for long term never get worried. If you thought of making profit in a lesser time, then no other go than just waiting with patience for a price pumping.
The problem is that you are asking a lot of patience from him and while a member of the forum that has seen and experimented situation like that before could do it, you must not forget that he is a newbie, the price of bitcoin has not been that high for some time and I do not think we are going to see that price in a long time, so it is very likely that he gets desperate and sells for a loss.

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