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Author Topic: I bought at 19k, now what?  (Read 2038 times)
newwest
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February 06, 2018, 05:47:48 AM
 #21

I suggest you Hold on!

Although the price is now falling, you bought three BTC for $19,000.

The price is now $6,600, and your 3 BTC is not getting any less!

The price will return to $19,000! Maybe more!

If you sell now, you'll regret it!

Yeah selling now would not make much sense because it is already trading at a lower value and if you sell now so that huge loss you will have to incur could not be recovered and btc if start rising again atleast you can cover up some of your loses in coming time . So better to keep holding as you have done so far.

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February 06, 2018, 05:47:53 AM
 #22

I suggest you Hold on!

Although the price is now falling, you bought three BTC for $19,000.

The price is now $6,600, and your 3 BTC is not getting any less!

The price will return to $19,000! Maybe more!

If you sell now, you'll regret it!
Well i think there is no other choice than to hold or else you will loss a huge amount .Maybe it is really a verry hard thing to do specially when you always see the price that slowly dropping down almost everyday it is really killing those who invest in the high price to see the present price fall.I think we must believe in bitcoin and it's capability to rise again to avoid stress.

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February 06, 2018, 05:49:35 AM
Merited by budi691 (2)
 #23

a good choice. all you have to do now is just be patient and wait for the right time to take it off. Because this time is not the right time. in the hope that bitcoin returns to its best as it did last year.
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February 06, 2018, 05:50:50 AM
 #24

    I think the only thing i can suggest is to hold your bitcoins,don't sell it. Just be a possitive thinker,don't lose hope,always hope that bitcoin price will recover and increase again so you can gain profit from your $19000 investment.

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February 06, 2018, 05:55:02 AM
 #25

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.

nice work friends. you just need to enjoy your days with kindness, positive thinking while being patient. and hope the 3 btc you have will evolve into a dream come true.  Wink

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February 06, 2018, 05:55:20 AM
 #26

Excuse Me OP, you said you did what?! On credit? I'm sorry OP, but that is a very ridiculous decision to make. In as much as Bitcoin is a good investment and a very potential future coin, one should NEVER borrow to invest in it. Well, I can only advise you to HODL your coins till we are out of the dip. But I wonder how you will pay for you loans because bitcoin may not be mooning in a month or two but it may be in many months to come.

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February 06, 2018, 05:55:33 AM
 #27

Unfortunately, people make poor financial decisions and they do not listen to good advice and then they want to complain when things fall apart. A lot of us are constantly telling people not to finance their bitcoin investment with dept. Crypto currency investment is a HIGH risk investment.

What is your monthly instalment on that credit?

If you did not buy bitcoins with credit, I would have suggested this strategy, https://bitcointalk.org/index.php?topic=2878321.msg29569366#msg29569366 but it is even more risky at this stage, because it might put you in deeper trouble if you financed this with debt.

The only thing to do now, if you cannot afford to pay the debt, is to sell say 1 of the coins and to pay the debt with that money. Then you must hope that the price might recover and that the remaining coin or coins will cover the losses.
You are right people never understand about the crypto currency investment they are just looking to make more money in short time so it has great risks too.Buying crypto with loans is the most stupidity ever because if the price of that coin crashes then you will be trapped and may end fatal.Now you just need to hold your coin now or you just sell one bitcoin and pay the interest amount and invest the remaining bitcoins into ICO then the price of bitcoin may recovered at the time of you receiving tokens but it also a huge risky thing.But I think it needs more time to recover from the current price fall than usual because now more countries are against bitcoin.

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February 06, 2018, 05:57:14 AM
 #28

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
Buying at credit was a wrong choice. Selling at the current price is even worse. If you can find ways to pay your credits, then just hold on you bitcoins and try not to make another bad financial decisions.


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February 06, 2018, 05:57:33 AM
 #29

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.

Remember you are never under water until you sell.  You do not lose or win until you realize.  

When dealing with a depressed asset you have to ask yourself (emotions aside) and answer objectively to the question:

"Do I see value in this asset?"

If you see a value, then others most likely also see the value.  If this is true then relax because markets go up and down.  All the time.  When it is rapid it is volatility.  When it is slow it is a trend. There are often volatile up and down trends.  There are also sideways trends which are usually moments building for a bull run or bear fall. Signals can help determine that. Right now you are seeing a down trend referred to as a Bear Market volatile price action.

This happens and you can guess at the reasons but the reasons only matter partly.  The science matters the most.  

Where is your asset in its growth curve?  Why is it valuable?  Why did you buy in the first place?

Sometimes the answers are cases like yours where most probably you wanted to get in on the action and did not want to miss the bus.  That is fine but this is how you pay for it.  Before you do anything the first step should always be to do what? Your research.  The thing about buses is that there is always another one so if you miss this you wont miss the next one right?

Now is the time to do your research because you probably did not do it if you bought at the high.  

Just know this...There are market makers out there who rely on people like you to do what you did and then sell your hand the minute the market starts crashing, declining, or even when it gets really frothy.  Why? It is human nature to want to minimize damage.  You fear losing money.  You are then in fight mode and you make bad decisions.  

If you came to the Crypto Arena hoping to make quick money without any research or experience then you are the fish.  You are the prey.  Now you must learn how to not be prey.  You must learn trading signals.  You must join crypto groups.  You must watch markets and understand patterns and volume and P&D and how to avoid being the sucker.  

That is why I say now you must learn.  Now you do research and learn what you did wrong.  In the meantime, I suggest you get a pad and paper and start making play trades every day.  Learn to watch charts and understand how the market works and play with fake money on trades.  This will help you learn patterns.  This will help you be more comfortable with the market.  

Fear and Panic are the two main components to shaking weak hands loose.  You don't know why the market is declining right now but I can promise you this is where the money is made.  Crypto is not going away.  BTC is not dying.  It is just building pressure and whales are buying low from all the weak hands they shook.  Don't be a weak hand.  
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February 06, 2018, 05:58:31 AM
 #30

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
It is for this reason people are advised to only risk money they can afford to lose in business especially one as uncertain and volatile as cryptocurrency.

OP, you took out a loan to buy bitcoin thinking it's an easy way to riches but now you know it is not. Just like any other investment, bitcoin also has its ups and downs. We are experiencing that down now. It is still going down.We expect the ups to manifest later this month or in March. But honestly, $19,000+ is a long way to get to your entry level

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February 06, 2018, 05:59:24 AM
 #31

I am very sure not only you are facing this problem because many newbies jump into investing last year when the media hype about bitcoin is so high without finding out how or what is cryptocurrency. at this point, it will be advisable to keep your bitcoin save and wait until you recover you're lost. that which i cant or anybody can tell when bitcoin will recover

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February 06, 2018, 06:05:49 AM
 #32

Buying BTC with credit is really a geniues idea. Are you a student at Harvard?
You have to pay your credit with your day job and meanwhile try to avarege down your price. thats the only way.

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February 06, 2018, 06:09:23 AM
 #33

noting you can do now but hold and accumulate a lot of patience. probably wait for months or years to recover what you loss. just don't buy again bitcoin or any altcoins using your credit card because cryptocurrency have ups and downs and we cannot predict what would happen next.

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February 06, 2018, 07:08:25 AM
 #34

The same problem happened with me bitcoin i was looking for the profit but i come to know the loss of very high amount i want to do some of the other investment in altcoin like Ethereum to become the loss bearer for me. Ethereum is a very good source of income for me in the future because the Ethereum buying is at a high ratio i have bought at 19k and then now facing a big problem of this bitcoin currency.

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February 06, 2018, 07:41:58 AM
 #35

Well, you may think as the worst case scenario, you lost that money, so forget about it for some while. Don't look at charts for some months. Then in 6 months you can check and maybe the idea of not selling in February might look as a good idea. This is not the first time this happens.

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February 06, 2018, 07:45:20 AM
 #36

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
I am really sad to hear your situation,getting hold of bitcoin at $19k and that too with credit card is a really bad choice,no wonder the banks are taking strict actions for using credit card to get into crypto currency,the only thing you can do is to hold on to your coins and in the mean time settle your account with your monthly salary.

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February 06, 2018, 08:29:17 AM
 #37

the question would be: Was you going to sell at 25k? or did you still keep it and just pay the credt by your day job? If yes, hold and dont look at the price right now. bitcoin is is matter of been patient for loooooooong times.

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February 06, 2018, 08:57:55 AM
 #38

 I would advise you to go ahead and take out as much more credit as you can, buy more bitcoin, then default on all of your debt, give the banks the finger, and move to a third world country and wait for the next rally, at which point you can marry a local and buy a big piece of land in their name, and be sure to be nice to them and have a good relationship. Cheesy
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February 06, 2018, 09:00:58 AM
 #39

Selling it definitely is not worth it will not be profitable for you, as I think you better keep it at home and wait for the price increase

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February 06, 2018, 09:04:03 AM
 #40

hold to the death ,and live your life ,do not com back 2 years later. when price recover ,it will go higher than $19000,it is just a matter of time.

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