I cracked Near the Bottom

[sabriel]

Hi,

I fell for the fud today and I sold most of my bitcoin around the 6800 - 6600 EUR mark. It got pretty scary for me as I've not been around for the past mass dumps and i've usually had my bottom so far from the top that any dips have been nothing. So I was really tried and tested today.

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

I know no-one can see the future, but just from past experience has anyone wished they'd bought back in asap or waited?

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[Lowryy]

If I were you I would not be asking if I should jump back in. I would be asking how not to get into these types of situations ever again.

I'd analyze the situation.

Why did I sell? Because of my emotions? Is it wise to act upon emotions rather than being rational when it comes to investments/financial decisions? If the fundamentals didn't change at all but the price went down then was it necessary to sell? If some other people got scared because the price fell and sold their assets at a very low price then shouldn't I be buying since investing is about buying low and selling high?

[Herman Hesse]

It happened to the majority of people here..it happened to me in July...
Now the price is 6800-6900..so there is no difference than your selling price..
It is hard to predict the price.. but I suggest you to take a few days off and cool your head even if than means that you would buy later at e.g. 7200.  It is easier to calm down when you are not invested.. and than you can come back when you have clear head and stronger hands... you will be better trader and that is longterm worth much more than possible loss of few hundred euros per bitcoin..

[UnDerDoG81]

Just my feeling, could be heavily wrong but my gut says this was not the bottom and we will see 5k or lower. But as I said, I could be completely wrong. Dont take it as a advice.

[mike4001]

Pro Tip: Send all your BTC to yourself with a fee of 1 sat/byte so you freeze them so to speak for 2 weeks

(Or just don't sell)

[hisslyness]

Hi,

I fell for the fud today and I sold most of my bitcoin around the 6800 - 6600 EUR mark. It got pretty scary for me as I've not been around for the past mass dumps and i've usually had my bottom so far from the top that any dips have been nothing. So I was really tried and tested today.

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

I know no-one can see the future, but just from past experience has anyone wished they'd bought back in asap or waited?

"They are good... They are very very good"

You are only $200 euro away... if you buy in now, you are doing exactly what "they" want you to do!

There will be another dip... if you ever get back in ... remember one thing, they can not take your BTC away if you HODL!

[topper26]

Look at the potential of what bitcoin can become, it can be world changing. If you invest with a strong belief system in the future of this technology and a notion to go long, it makes for corrections easier to handle and makes me at least want to buy more.

Banks and the traditional investment groups are scared shitless hence much of the fud.

I beli3ve in this technology, I don't want to be on the wrong side of history and have any regrets

Best wishes from across the pond!

[fabiorem]

Did you go all-in, OP? People who go all-in usually make such decisions when the price falls too much.

I would recommend putting only between 10-20% of your savings, even if they are small. Dont go all-in, and go long.

[Toxic2040]

Hi,

I fell for the fud today and I sold most of my bitcoin around the 6800 - 6600 EUR mark. It got pretty scary for me as I've not been around for the past mass dumps and i've usually had my bottom so far from the top that any dips have been nothing. So I was really tried and tested today.

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

I know no-one can see the future, but just from past experience has anyone wished they'd bought back in asap or waited?

I have found over the years if I step away for awhile after a knee jerk reaction I have much clearer insight as to what direction I want to go.
Taking any financial advice..let alone from forum trolls is problematic at best. That being said the late weekend Monday dump area might be a good place to examine where you might want to re-enter the market.
Learn some tricks about how to manage your portfolio. How to split your fiat/btc ratio so you are selling some when the prices go up and buying some when the price declines.
What ever works for you..but find out what that is...and stick with it. Consistent asset management is the key to success imo.

[celtic99]

[exstasie]

Hi,

I fell for the fud today and I sold most of my bitcoin around the 6800 - 6600 EUR mark. It got pretty scary for me as I've not been around for the past mass dumps and i've usually had my bottom so far from the top that any dips have been nothing. So I was really tried and tested today.

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

You have to consider the probabilities. I mainly see two scenarios here, and both assume that we saw a major bottom last night. In the first scenario, we won't see < $8,000 again and the correction is over. Waiting until we're back near the ATH means losing a lot of coins. In the second scenario, this is a replay of 2014: a big retrace to the 61.8% fib or higher followed by a bear market.

The second scenario would mean you can buy back you coins where you sold them (or lower), but there's no guarantee. In both cases, I think it's worth finding a long entry now.

[dothebeats]

If you still have the money to spare and deem that the current price is an acceptable entry point, then sure, it will not hurt to buy a few more and stash them. Also, timing is a key factor in deciding whether to buy immediately or wait. Weekends usually end up being bloody for bitcoin and Monday is the laziest day of the week, so there's that. You can also look up on recent, unbiased news from credible sources in order to help you make up your mind.

[filharvey]

I hope that if you wait for some more time, then you could buy much lower than your selling price.I hope that bitcoin price would still continue to travel in bearish trend for some more time.

If you still want to buy at this price,then you could divide your investment in to two and buy bitcoins with one part of the amount and wait with the other set of amount until another dip.If dip occurs for another time,it would be beneficial for you and if price increases,even then you could get satisfied that atleast you have bought bitcoins with half of your investment in a lower price.

[sabriel]

Thank you for all your support and advice guys. This is my first real time to worry about this stuff. When it was going so high before it didn't feel too much of an issue.

I sold about 75% of my bitcoin during the FUD. So I have a little left over. I just panicked seeing it drop so low and having all the news issues, tech issues, more altcoins etc and worried it might actually be a bubble burst. If it hit so low and i might have been down a lot for years before recovering to that height again. 

I am worried as you have said that this will be a retrace and we could see lower yet. It's popped back up for a little bit, but it could easily bounce back down.

I feel i am in a better head space now to deal with it though... or i'm too exhausted to worry about it anymore and think fuck it, what will be, will be and just pick a side. but most of your comments have helped.

[egyptian magician]

Hi,

I fell for the fud today and I sold most of my bitcoin around the 6800 - 6600 EUR mark. It got pretty scary for me as I've not been around for the past mass dumps and i've usually had my bottom so far from the top that any dips have been nothing. So I was really tried and tested today.

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

I know no-one can see the future, but just from past experience has anyone wished they'd bought back in asap or waited?

We haven't even seen the latest bubble "pop" yet. There has been no "panic selling"... all we're seeing is very natural, steady deflation because Bitcoin has not added any utility to justify the enormous rise in value. I don't get you guys that are always jumping in and out... just sit out for awhile and start buying back in after all the hype has died down a bit more. I've seen way too many people come and go who think they're going to "day trade" crypto and end up getting burned. I've also seen people buy at the top of all these bubbles and lose patience. I would wait 6 months from now and then start buying at regular intervals, HODL IT, and forget about it. If you follow my advice, you will probably be much wealthier in 3 or 4 years. If you follow the advice of the other people here, you will have nothing but sorrow, because all they're looking for are "bag holders" to buy their stash.

[pooya87]

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

well you have already made one mistake, i suggest taking things slower this time and think more before taking any actions.
you have two options for buying back
1. wait a little longer to see what the market is going to be like. to be sure if this is a long bear market or if it is a long dip that will end soon.
2. buy little by little in big dips. for example if you are about to invest $10000, then buy $1000 when you see a big dip or place low bid orders and see if they get filled. this is of course easier to be used by those who are planning to invest long term.

[egyptian magician]

well you have already made one mistake, i suggest taking things slower this time and think more before taking any actions.
you have two options for buying back
1. wait a little longer to see what the market is going to be like. to be sure if this is a long bear market or if it is a long dip that will end soon.
2. buy little by little in big dips. for example if you are about to invest $10000, then buy $1000 when you see a big dip or place low bid orders and see if they get filled. this is of course easier to be used by those who are planning to invest long term.

It's the biggest mistake of all. Virtually everyone who thinks they're going to outwit the market and buy the dips and sell the bumps is fooling themselves. It may work once or twice, but as all great investors will tell you, the market can remain irrational longer than you can remain solvent. The only people will win in crypto investment are those that have a well defined investment plan and hold long term.

[glowing10]

Pro Tip: Send all your BTC to yourself with a fee of 1 sat/byte so you freeze them so to speak for 2 weeks

(Or just don't sell)

This is the best option if people start doing this as this panic sellers are disturbing the market and thus the price keep crashing else if people do not sell the market would not be crashing this much. Though the selling is still continuing and btc prices are well below 8500$. Though the coming week should be way much better than this week in terms of price and buying demand.

[timerland]

Hi,

I fell for the fud today and I sold most of my bitcoin around the 6800 - 6600 EUR mark. It got pretty scary for me as I've not been around for the past mass dumps and i've usually had my bottom so far from the top that any dips have been nothing. So I was really tried and tested today.

I'm looking to get back in and I wondered if anyone had any experience with this and could give me any advice. Should I look to buy back in at a loss just now or do you reckon to wait for another dip?

I know no-one can see the future, but just from past experience has anyone wished they'd bought back in asap or waited?

That's just unlucky man. You simply never sell at these sorts of low levels because there hasn't really been in the history of bitcoin 3 or even 2 straight days of bitcoin crashing by 15% or more. It just has a very low probability of happening.

Right now, since the price is still under $9k, you could certainly buy in some. The loss you're taking in will be something around $200-400 per coin based on current prices, but that's not a lot when you convert it into a percentage.

Buy with half your funds, leave the other half for buying in case price goes even lower.

Learn the lesson from this mistake - don't trade with your emotions. When everyone else is telling you to sell because it's a bloodbath day, it's not a good time to sell.

[moonblocks]

You'll simply have to wait and see if selling at that price was worthwhile

There's plenty of speculation in the media at present about which way things might go

Here's a chart that might be of some interest: https://bitcointalk.org/index.php?topic=2868460.msg29491028#msg29491028