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Author Topic: I watched my $5000 metamorphose to $2075 :(  (Read 277 times)
Bolt Brownie
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February 05, 2018, 06:13:16 PM
 #21

I don't know what to say about SC: 1500, XDN: 1500, and ENG: 22. Because I don't know those coins very well, but I would do a thing with the other positions you have. All of them have decent potencial of growth so as soon as this down trend stop, you should be ok, as they will likely recover. From all of your holdings my favorites are BTC and ETH of course, but I've heard some good things about ADA and XLM (I also have some open position of those coins, and I don't intend to sell them).

If you are not good at trading, then don't. Just keep those coins as long term positions. No point in selling when there are good chances that we have already hit the bottom. I would be a little more worried if we crossed the $5k support level down (but even there I would keep my long term position on bitcoin). You must really set a strategy. I believe in BTC so I have a long term position that I will not move no matter what happens, and then I have a trading bankroll that right now is mainly on cash, but I do have some middle term position as well (like the ones I've mentioned about ADA and XLM). Since they are very connected to what happens to BTC, I would considering selling those if BTC crosses the $5k mark.
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February 05, 2018, 06:13:38 PM
 #22


its just panic sellers shitting themselves, once they are gone things will stabilise and build from there. It will take time.
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February 05, 2018, 07:03:12 PM
 #23

back in October price was between $4100-$5700 and current price is $7700 how did your investment go down from $5000 to $2000?!!

that is only possible if you started buying in mid December (3 months later)
no i guess i bought BTC in OCT/NOV 2017 and that time price was at $8500, then in at $13000 and last when it was $15000. But I lost much due to trading in other crypto currencies.
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February 05, 2018, 07:07:33 PM
 #24

I don't know what to say about SC: 1500, XDN: 1500, and ENG: 22. Because I don't know those coins very well, but I would do a thing with the other positions you have. All of them have decent potencial of growth so as soon as this down trend stop, you should be ok, as they will likely recover. From all of your holdings my favorites are BTC and ETH of course, but I've heard some good things about ADA and XLM (I also have some open position of those coins, and I don't intend to sell them).

If you are not good at trading, then don't. Just keep those coins as long term positions. No point in selling when there are good chances that we have already hit the bottom. I would be a little more worried if we crossed the $5k support level down (but even there I would keep my long term position on bitcoin). You must really set a strategy. I believe in BTC so I have a long term position that I will not move no matter what happens, and then I have a trading bankroll that right now is mainly on cash, but I do have some middle term position as well (like the ones I've mentioned about ADA and XLM). Since they are very connected to what happens to BTC, I would considering selling those if BTC crosses the $5k mark.
Than you for the advice and yes it make sense. Actually Sia Coin SA, Digital Note XDN and ENIGMA ENG were good projects I like their idea so made a bet. Well definitely BTC ETH will always be best.  Yeah i learn my lesson trading is not everybody business you need to be geek. Best option is to hold.

I hope BTC wont go to $5000 mark :p
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February 05, 2018, 07:18:49 PM
 #25

Crypto currency trading is like stock market on steroids and is the craziest rollercoaster ride and can really test your emotions,  it's easy 10x up or down so you being 50% down is okay,  don't panic and sell your positions at a loss if you don't need this money then just be patient and hold on and you will be rewarded for your patience you will sure double your money.  Also just a word of advice never put the money you need for your day to day or near future expenses on trading.  Put the money you can afford to loose and you will always stay happy and sleep sound. Best of luck! 
Forget investing in land or gold... bitcoin is the real game..  that was OCT-2017.

I started poring my small savings into crypto and for last 4 months I have invested $5000 on and off and did not get a chance to cash out a single penny. Just kept buying different crypto currencies and ICOs.

But as of today if I calculate all my crypto empire its valued $2075.

Where did I go wrong?

I'm sure no body scammed me.. I did all my prior research before buying any crypto currency or investing into any ICO. But still I lost $2925.

Is it only me or all of us (new comers) have similar story. Yeah we missed the honey-moon period of bitcoin but it would go this bad, I never thought of it Smiley


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February 05, 2018, 07:23:22 PM
 #26

Don't panic and hold. Prices fall prices rise such is the nature of investments.
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February 05, 2018, 07:45:28 PM
 #27

I entered the scene more recent than you but situation is somehow similar.  I came in during the ATH (which ofcourse i did not realize at the time) and seen my investments drop value week after week.

Been investing more during the recent dips as well only to find out an even worse dip a few days later (as we have another one at this very moment).

Not too worried though, i actually do believe that crypto can only become bigger than it is today.  It's still so early in it's life cycle that even we could be called early adopters still.

So i would say, do not worry too much, just work on a nicely balanced portfolio of projects you believe in.

good luck Smiley
Maybe this will make you feel better. I remember one of my cousin buying bitcoin around $4000 before the whole China crazy ban of ICOs which the whales decided to use to create panic in the market and caused some dumps in the market, he really wanted to sell for loss, but to encourage him, I gave him the exact funds he used in buying them and told him to transfer the coins to me which he did.

Just some few days later, the market recovered, moved past what he bought initially and he ran back, begging to give me those same funds back for his coins which I did because I needed to prove a point to him. If you are holding for the long term, just be patient and stop worrying yourself what is presently happening in the market, most especially if you ended up buying at the top, joining other FOMOs.
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February 05, 2018, 11:07:30 PM
 #28

You have said that you have invested in cryptos since October 2017. So in December of 2017, when the cryptos mass increase rapidly do not know you have earned a profit at that time? Now the loss is both the market as well as investors are encountering, not just you. So what to do is calmly analyze the market situation and continue to hold instead of selling off.

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February 06, 2018, 12:26:55 AM
 #29

Now it seems the price of crypto currency were declining, but I suggest to don't panic because it will only make matters worse. I believe the price will go back to normal, but it's up to you want to hold it or sell it.
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February 06, 2018, 12:39:25 AM
 #30

Forget investing in land or gold... bitcoin is the real game..  that was OCT-2017.

I started poring my small savings into crypto and for last 4 months I have invested $5000 on and off and did not get a chance to cash out a single penny. Just kept buying different crypto currencies and ICOs.

But as of today if I calculate all my crypto empire its valued $2075.

Where did I go wrong?

I'm sure no body scammed me.. I did all my prior research before buying any crypto currency or investing into any ICO. But still I lost $2925.

Is it only me or all of us (new comers) have similar story. Yeah we missed the honey-moon period of bitcoin but it would go this bad, I never thought of it Smiley


I think that at the moment the market is extremely volatile, due to the bad news of the Chinese market about bitcoin has made the bitcoin price plummeted, this morning the price of a bitcoin has dropped to 7000 $ and there is no sign of rising again. According to my calculations, bitcoin prices may continue to fall further and reach $ 5400.
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February 06, 2018, 01:44:59 AM
 #31

It depends. How long are you planning on holding anyway? If you're not planning on selling soon, then why bother? Dips and crashes has happened multiple times in the past, and will definitely happen a lot more times in the future. It's just up to you if you're patient enough to stay invested. After all, bitcoin is a long term investment.

Thats true, why you have to worry if you're holding for long term? Dont monitor the value and stop thinking about it for a while because its depressing.

Im hodling my coins for long term however I dont forget to take profit at times and enjoy my earnings. In fact I already get my capital and just re-invest all my earnings I got in my investment and now im waiting for my specific value before cashing out my btc.

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February 06, 2018, 01:59:02 AM
 #32

Why are you so suprised?
Bitcoin price down from $19k ATH and now only $7000, it means bitcoin value dropped 63%. If you can't hold it more, just sell it right now





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.POWER. PLAY




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Xylber
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February 06, 2018, 02:03:45 AM
 #33

You did the first mistake at buying high. Now be smart, and don't sell low.

Remember, in each high/low cycle, there is people who cashout thousands, don't be one of those fools who let them cashout their money. HODL

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February 06, 2018, 02:48:52 AM
 #34

it depends on how long you invest your money, if you do not need it now you do not have to bother seeing it, bitcoin is down now of course all other altcoin also decreased, not just you but all the people who hold altcoin are the same as you, nothing wrong with that. Grin
That's why you should never put your money that used for primary needs , you would get frustrated to see the real crash right now. The situation seems went even worse your $20,000 turned to $6,000 with the current rates, but really when you invest the money that you can forget it for long term you might could see the new ATH come faster. Just forget your investment for future purpose.

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February 06, 2018, 04:47:11 AM
 #35

That's why you should never put your money that used for primary needs , you would get frustrated to see the real crash right now. The situation seems went even worse your $20,000 turned to $6,000 with the current rates, but really when you invest the money that you can forget it for long term you might could see the new ATH come faster. Just forget your investment for future purpose.
I think a lot of people already know about it. Even though you have $ 1 million in your wallet, that number will keep decreasing in case of a decrease in Bitcoin prices. Be patient and be assured that the price of Bitcoin will rise sooner or later. Nothing can prevent the development of Bitcoin prices, Bitcoin prices will always increase especially if you already know the history of Bitcoin price travel. And also I want to give a little advice about investment. Do not use all your money and your savings for investment. You need to eat everyday and it needs money. You need savings to meet sudden needs. It would be better if you had more than one source of income. Because if one of your jobs is having trouble, you can still eat.
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February 06, 2018, 05:55:35 AM
 #36

You did the first mistake at buying high. Now be smart, and don't sell low.

Remember, in each high/low cycle, there is people who cashout thousands, don't be one of those fools who let them cashout their money. HODL
True, never make another mistake investing inside trading crypto. It needs a high hope and a longer patience, a game of trust should be taking place. People who knows the drill takes advantage of the current situation, while newbies need to analyze well if they don't want to lose their money. If you have read most of the replies, you will get lots of positive reason to keep holding. The sweet success might be long, but it will be worth the wait.
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February 06, 2018, 06:08:40 AM
 #37

It is not just for you, but for most of us, including myself. I the past month, the whole crypto market dump down about 50%. So most of us losed about 50%.

Be patient, not to sell now. Buy more at lower price, waiting to sell higher.
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February 06, 2018, 07:11:57 AM
 #38

Forget investing in land or gold... bitcoin is the real game..  that was OCT-2017.

I started poring my small savings into crypto and for last 4 months I have invested $5000 on and off and did not get a chance to cash out a single penny. Just kept buying different crypto currencies and ICOs.

But as of today if I calculate all my crypto empire its valued $2075.

Where did I go wrong?

I'm sure no body scammed me.. I did all my prior research before buying any crypto currency or investing into any ICO. But still I lost $2925.

Is it only me or all of us (new comers) have similar story. Yeah we missed the honey-moon period of bitcoin but it would go this bad, I never thought of it Smiley


Bitcoin has dropped from $1,700 to $40 before and in 2017 went as high as $20,000 in December 2017. I believe that the current dip  is not going to be the end of bitcoin or cryptocurrencies and we would need to have strong mind this time because I don't think the dip is over because the bull is still very weak and if this bearish is over then we would be happy we buy low.

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February 06, 2018, 07:46:51 AM
 #39

Forget investing in land or gold... bitcoin is the real game..  that was OCT-2017.

I started poring my small savings into crypto and for last 4 months I have invested $5000 on and off and did not get a chance to cash out a single penny. Just kept buying different crypto currencies and ICOs.

But as of today if I calculate all my crypto empire its valued $2075.

Where did I go wrong?

I'm sure no body scammed me.. I did all my prior research before buying any crypto currency or investing into any ICO. But still I lost $2925.

Is it only me or all of us (new comers) have similar story. Yeah we missed the honey-moon period of bitcoin but it would go this bad, I never thought of it Smiley


Are you drunk?? Or you just want to make more posts and topic to increase your total activity?? Bitcoin was around $5k in october, and it reach above $6k early november, and start rally mid november so how could you said that you lost half of it?? I buy half of my bitcoin at that time around and sold it when price reached below $10k but i still got altcoins and so far when the price coming back, i haven't lose shit because all my investment was just back to square one to the price where i bought it at the first. I suggest you look for reality before you post anything, even you can analyze it at coinmarketcap
https://coinmarketcap.com/currencies/bitcoin/

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February 06, 2018, 08:11:17 AM
 #40

Are you drunk?? Or you just want to make more posts and topic to increase your total activity?? Bitcoin was around $5k in october, and it reach above $6k early november, and start rally mid november so how could you said that you lost half of it?? I buy half of my bitcoin at that time around and sold it when price reached below $10k but i still got altcoins and so far when the price coming back, i haven't lose shit because all my investment was just back to square one to the price where i bought it at the first. I suggest you look for reality before you post anything, even you can analyze it at coinmarketcap
https://coinmarketcap.com/currencies/bitcoin/

my dear Einstein friend... why you would you even think that I bought $5000 worth bitcoins in one transaction? i bought in different times first in sep/oct and then at $8000, then $13000 and also at $15000. More you did not read I mentioned I did try to trade some coins here and there which contributed to my total loss. BTW as of today i lost even more now at $1645 Smiley
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