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magneto
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February 06, 2018, 09:08:11 AM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
This is a tricky situation and it's much more complex than "just holding it". If you bought wtith your own money then that would have been my advice to you. Hold it for a while, wait for the consolidation to be over. Or at least hold until the rebound comes and then sell, never sell at the bottom. But since you've bought BTC on credit, which is a big no for any investment in the first place, the consequences are much greater than losing all your money. You could be losing all your money + interest, potentially even ruining your credit score. I would recommend waiting until price is at least in the $7-9k's again, which I think has a decent chance of happening. Sell your holdings then. Or even sell now if you're really anxious. Make up the rest of the borrowed money with your own savings, take the big L and learn the lesson. It's not what I'm doing since I didn't buy my share of BTC on credit, but markets are volatile atm and I don't think that an investment on credit that has an unknown amount of time before it booms again is a good idea... |
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Aikidoka
Sr. Member
 Offline
Activity: 1078
Merit: 342
Sinbad Mixer: Mix Your BTC Quickly
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February 06, 2018, 09:13:03 AM |
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It was really a bad decision to buy bitcoin at 19k$. Although many experts predicted that the price would reach 25k$, none of them were right. You must have done too many researches and articles talking about the rise of the bitcoin price. So, I think I understand in what way you have made your decision.
What is done is done. Hold your bitcoin and be patient because patience will make you the winner in the end. Added to that, the bitcoin price will surely grow again as usual. It might take time, but what matters most is the result.
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semaforo
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February 06, 2018, 09:14:15 AM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
This is a tricky situation and it's much more complex than "just holding it". If you bought wtith your own money then that would have been my advice to you. Hold it for a while, wait for the consolidation to be over. Or at least hold until the rebound comes and then sell, never sell at the bottom. But since you've bought BTC on credit, which is a big no for any investment in the first place, the consequences are much greater than losing all your money. You could be losing all your money + interest, potentially even ruining your credit score. I would recommend waiting until price is at least in the $7-9k's again, which I think has a decent chance of happening. Sell your holdings then. Or even sell now if you're really anxious. Make up the rest of the borrowed money with your own savings, take the big L and learn the lesson. It's not what I'm doing since I didn't buy my share of BTC on credit, but markets are volatile atm and I don't think that an investment on credit that has an unknown amount of time before it booms again is a good idea... What do you need credit for? Ikea condo and a new honda civic you can be enslaved by? |
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babygun
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February 06, 2018, 10:13:28 AM |
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Before you do such an investment, you need to do your own research and only invest money that you are willing to loose.
The only thing that you can do right now is hold and hope that price will go up again in the near future.
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Typex
Jr. Member
Offline
Activity: 61
Merit: 1
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February 06, 2018, 10:20:29 AM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
This is a tricky situation and it's much more complex than "just holding it". If you bought wtith your own money then that would have been my advice to you. Hold it for a while, wait for the consolidation to be over. Or at least hold until the rebound comes and then sell, never sell at the bottom. But since you've bought BTC on credit, which is a big no for any investment in the first place, the consequences are much greater than losing all your money. You could be losing all your money + interest, potentially even ruining your credit score. I would recommend waiting until price is at least in the $7-9k's again, which I think has a decent chance of happening. Sell your holdings then. Or even sell now if you're really anxious. Make up the rest of the borrowed money with your own savings, take the big L and learn the lesson. It's not what I'm doing since I didn't buy my share of BTC on credit, but markets are volatile atm and I don't think that an investment on credit that has an unknown amount of time before it booms again is a good idea... What do you need credit for? Ikea condo and a new honda civic you can be enslaved by? Enslaved by? Your a stupid tool. A place for shelter and transportation to a job are pretty important things. Do you say stuff like that at your job? To your friends? To women? Fucking idiot. |
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lablab03
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February 06, 2018, 10:25:49 AM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
you must hold mate even the price is dumping at 6k just control your emotions and dont sell at the same time if you don't want to lose some of your profits. You must hold and fight this volatility 'cause for sure it will pump again after this blood waves. |
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Old_Timer
Member
Offline
Activity: 131
Merit: 13
In the fray since 2013.
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February 06, 2018, 10:42:55 AM |
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You can do nothing but HODL.
Be patient it may take a couple of years, but you will turn a profit in the end.
When market stabilises you can try to increase your bitcoin by playing with other RELIABLE crypto (LTC, eth, bcash, monero etc).
But always stay in Crypto until you are break even with the cash you payed.
Trust me I've been here since HODL did not exist.
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MadAndHoldersPattern
Newbie
Offline
Activity: 52
Merit: 0
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February 06, 2018, 10:47:53 AM |
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What was your reasoning and plan before buying? Or you just expected it would go straight to 100k? It's dumb to sell now only a month later after 70% decline, it will probably rebound, if not sooner, then later. Wait for a year or two for another bubble, I doubt bitcoin will go away. It's speculative in nature, and people love speculation so they will come back once the dust settles.
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bucciarati
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February 06, 2018, 11:16:33 AM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
i am sorry for you but you really take a huge bet! i can understand that this crash is causing you big troubles.. i do not want to be rude but i think that this will teach you a good and valuable lesson about future financial decisions.. repetita juvant: do not invest more then you can afford to lose! |
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semaforo
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February 06, 2018, 04:00:14 PM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
This is a tricky situation and it's much more complex than "just holding it". If you bought wtith your own money then that would have been my advice to you. Hold it for a while, wait for the consolidation to be over. Or at least hold until the rebound comes and then sell, never sell at the bottom. But since you've bought BTC on credit, which is a big no for any investment in the first place, the consequences are much greater than losing all your money. You could be losing all your money + interest, potentially even ruining your credit score. I would recommend waiting until price is at least in the $7-9k's again, which I think has a decent chance of happening. Sell your holdings then. Or even sell now if you're really anxious. Make up the rest of the borrowed money with your own savings, take the big L and learn the lesson. It's not what I'm doing since I didn't buy my share of BTC on credit, but markets are volatile atm and I don't think that an investment on credit that has an unknown amount of time before it booms again is a good idea... What do you need credit for? Ikea condo and a new honda civic you can be enslaved by? Enslaved by? Your a stupid tool. A place for shelter and transportation to a job are pretty important things. Do you say stuff like that at your job? To your friends? To women? Fucking idiot. "Your a stupid tool" I don't really need to say anything more. |
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Janation
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February 06, 2018, 04:31:58 PM |
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Before you do such an investment, you need to do your own research and only invest money that you are willing to loose.
The only thing that you can do right now is hold and hope that price will go up again in the near future.
Which I think might take some time. Bitcoin's price will not pump that easily back to it's ATH or even close to $19000. The only thing we can do is to wait for it to reach there, well you don't have any choice since you will be losing your investment if you sell it all now. This will be a good lesson for you and other people who wants to invest on digital currency. |
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josgandosbro
Full Member
Offline
Activity: 561
Merit: 101
https://imgur.com/cUCkVsv
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February 06, 2018, 04:45:55 PM |
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be patient is the key to your success. investing does not always bring profit but also can be a loss but if you are patient all will be beautiful in his time
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Barcode_
Staff
Hero Member
Offline
Activity: 3010
Merit: 568
APP下载sbapp.io
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February 06, 2018, 06:01:09 PM |
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You are in deep trouble if you bought the bitcoins using money loaned from banks, the interest rates might be a huge burden to you since you can't possibly sell your bitcoins away at such a bad rate, I believe it would be better to hold all your bitcoins for now and wait for the price recovery if you are able to do it, but the price of bitcoin might take a very long time to recover back to the $19000 USD level.
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hynext
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February 06, 2018, 06:05:28 PM |
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You are screwed, it's hard to realized that the price of bitcoin is going down and you bought high then is all credit. I will advice to all who wants to make easy profit on bitcoin never do debt or loan your house because bitcoin is volatile. You may lose if your investment is debt. It's better to hold yet than selling it.
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greeklogos
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February 06, 2018, 06:36:40 PM |
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 Honestly, it is to early to dig bitcoin. He is like Terminator, always coming back  Bitcoin is a roller coaster and you need to hold your found till time will come and we will see 20k$ again. Calm down and HODL! |
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dmamigo
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February 06, 2018, 06:44:26 PM |
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It is not only you, there are many who bought it around $18000. Till now spoken with many, they are holding them, no other options they have. And whoever is not willing to risk more are converting it into fiat. Simple solution for you as well, either HOLD or SELL according to your needs and wants.
Patience can turn to your favor but with huge higher risk.
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Gobeller
Member
Offline
Activity: 156
Merit: 10
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February 06, 2018, 06:56:22 PM |
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I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
Hold on still. Just relax and avoid selling bexause it will just make its market value lower also, you will lose money from your investment. Just patiently wait. It is just that bitcoin at this moment is struggling with its volatility in the market but chances are high that its price will eventually increase.For now, just hold and wait. It seems there is no other better option rather than holding. Especially if you got some tokens with high rates. This is time to calm down and think about the future plans of your portfolio. |
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ragavancoin
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February 06, 2018, 07:13:36 PM |
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My suggestion to you please hold the credit tokens as now the value of pre token is more than 0.50 USD in upcoming days surely it will reach around 2usd.
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flyingplows
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February 06, 2018, 08:59:20 PM |
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If he sells now - he is accepting a loss. Given that the price gone from 19 to 6 already there is no point to desperately save whats left.. I would say the best choice is to hold and hope for price recovery - it might still be a profitable investment even after one year.
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Kahhar
Copper Member
Newbie
Offline
Activity: 14
Merit: 0
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February 06, 2018, 09:50:06 PM |
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Can you transfer the balance to another credit card where they'll let you pay it off in a year?
If so, I would do that and start making monthly payments. Rinse and repeat with new credit cards until the full balance is paid off.
If you think BTC will recover, continue to hold the BTC.
If you think BTC will fall more, sell it off and take the loss.
If you think BTC will fall more, but then recover; sell it off and buy back so you increase your BTC holdings.
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