Bought my first BTC @ $4600, slightly worried

[hangar18]

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

[sudip76]

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

[newguy05]

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.

[MFahad]

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.

[pitiflin]

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?

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.

[reflector]

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.

[RodeoX]

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.  

[bigboi.chabba]

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.

[suvo05]

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.

[Preclus]

...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.

[Lmaooo]

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.

[conkeer]

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

[emuLOAD]

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.

[cynical]

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

[coolstory]

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?

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.

[emberbekas]

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?

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.

[Oceat]

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.

[dead_m92]

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.

[aoluain]

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.

[LesterD]

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