Bought my first BTC @ $4600, slightly worried

[Kingofbitcoin12345]

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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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.

[AGD]

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?

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.

[erickkyut]

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.

[jc89]

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?

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.

[leirou]

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.

[kevoh]

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.

[jseverson]

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.

[iamTom123]

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?

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!

[Marcus yoyo]

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

[Cormoran]

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?

Lesson learned, it's always better to be greedy when others are afraid, but only when others are afraid. 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.

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. It's not an easy choice, if you care about losing that initial investment.

[ramsdaj28]

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?

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]

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.

[zoolz]

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.

[semisyntheticpsy]

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

[diguyo]

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.

[red4slash]

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

[Prince8]

Emotional intelligence

Thats all you need

[Snapsnaggen]

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. 

[pereira4]

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.