Bought my first BTC @ $4600, slightly worried

[uztre29]

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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[KuromaYoichi]

Hey guys, new member here

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? 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.

[buwaytress]

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.

[kaedcoin]

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...

[seattletu]

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.

[Golerm]

Also remember a few people have a lot of coins and can easily manipulate market prices.

[jmigdlc99]

...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? 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.

[milewilda]

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.

[aesma]

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.

[Starbtc]

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.

[xdev]

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

[N@p$t3r]

Hey guys, new member here

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? 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!  

Sell now, gringo! sell now! jajajaja!

[jayram]

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.

[weredo911]

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$

[Polonium]

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

[weav]

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.

[dennyd999]

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.

[ropyu1978]

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.

[Praesidium]

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.

[kamikadze69]

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.