I bought at 19k, now what?

[nodelover]

awts! sad to say bro but I suggest you don't sell it! just hold until you have a profit, you bought bitcoin with the high amount so that's what happened, next time don't buy if the bitcoin is high, the basic rules is buy low sell high.

[djpitagora]

the fact that you bought with credit put you in a very bad position where you cannot afford to execute a good strategy.

When you bought you should have had a strategy that you would execute without emotion (do this with all investments). You should have know where your take profit and stop loss levels are. I have a clear upper target when I intend to sell and a stop loss of 0 (meaning I'm willing to see BTC go to 0).

Now I don't have a crystal ball to tell you my strategy is a winning one or not. It might not. The way I see it 4 things might happen:
1. BTC will bounce back up before the end of the year and continue to climb
2. BTC will level at a certain price (under 8-10k) and take years to climb back up - and this is what I find the most probable
3. BTC will do a drastic fall under 1k and slowly grow back up in the next 10 years
4. BTC will die off and be replaced by other currencies

Each has a probability chance, and a severity for you if it happens. Risk is calculated by a combination of probability and impact. Even if the risk for something is small (see #3, #4) the impact is huge for you. Nobody is going to know the probabilities unfortunately so in the end it will be about how big your balls are. To tell you the truth I'd be sh***ng bricks if I were you.

Personaly (I'm a risk averse person), I'd wait for a small bounce back (8-9k is reasonable for the average bull trap) and sell. You take a 50% loss which you will pay with hard work for many years to come and will have a lesson to teach your kids, BUT you will be able to sleep at night. If you can't take it like a man you will ruin your health otherwise.

[Gargo]

Buying at a price of 19k $ for borrowed money is a very risky move. You can minimize losses by selling. But at the moment the most reasonable solution seems to hold until the price rises. However, it will take a long time to recover from these losses.

[PartyPete]

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

The best you can do is keep it for the meantime and hope by the end of the yesr that the price will be around 20k-25k usd. There is not much you can do at this point if you sell it now you will be losing immediately.

[First77]

Sell Sell Sell Sell

[mrcash02]

Don't feel sad about it, I believe many others have bought Bitcoin when it was pricing $19.000 too. I hope you have invested money you are afford to lose, what means you don't need to cashout it soon into fiat. You will have to wait Bitcoin rises on its own time, you didn't lose your money and you didn't have a loss, you can still make profit from it, but you need to be patient and keep holding. It can take weeks or months, but sooner or later we reach there again!

[tambok]

Don't feel sad about it, I believe many others have bought Bitcoin when it was pricing $19.000 too. I hope you have invested money you are afford to lose, what means you don't need to cashout it soon into fiat. You will have to wait Bitcoin rises on its own time, you didn't lose your money and you didn't have a loss, you can still make profit from it, but you need to be patient and keep holding. It can take weeks or months, but sooner or later we reach there again!

Just stick to what you have bought and if possible and you have much fund then buy again as much as you can, you are not yet losing something for as long as you are not yet withdrawing the funds, just think of it even if you will put your money in a bank account still you cannot earn that much money from interest in saving in their.
So, just think well it is not yet the end of crypto the game is just beginning.

[severaldetails]

Really sorry to read that op. I hope you have the time to wait a while. Maybe bitcoin recovers to the point you bought within the next year or so. In case you don't have that time, you could try to work with one of your three bitcoins. Maybe you are a talented trader. I see it this way: you already owe somebody more than you can pay back. If you can't pay back 30% more, how much worse does your situation get?
Small tip: never use borrowed money for crypto currencies.

[STT]

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

The best thing is to buy over time and never in lump sums,  its too hard to be perfectly right on market timing and price and nobody can watch markets 24/7 of course.    So you are involved long term I think and as such you have the space now to look around for where best to place your bitcoin.

Some gambling firms will accept your bitcoin as a help towards their float and ongoing business, in this way you will be part of a business rather then purely speculating on the supply and demand for the currency by itself.

I think this would be the most positive way to continue and receive some yield on your asset, normally with a plain crypto token this is not the case.   You are flexible while holding just the BTC but any reasonable view now would be that 19k will take some time to recover, so you can commit to a longer holding such as within a company.   Invest in more then one place I think , do some research.

[Xardasim]

Now BTC's price is 8000$ - 8200$ so in my opinion you must hodl your BTC's because markets already came back to life and prices are green too. Other way you will buy altcoins with your bitcoins which more potensial coins and will get you more profit than bitcoin.

[terrific]

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

Are you not trolling? Can you show the TXID that you really have bought 3 bitcoin while it was $19,000. Since hashes can be seen on when you have bought it. But if that's for real, there's nothing you need to do but to wait for the price of bitcoin to reach back $19,000+. There's still a long way to see that so relax for now and go outside, take some fresh air or have some fun with your peers.

[mike4001]

Are you not trolling? Can you show the TXID that you really have bought 3 bitcoin while it was $19,000. Since hashes can be seen on when you have bought it.

Not if he has it lying on an exchange which is very likely if new is new to crypto :-)

[faatipoke]

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

Are you experienced in trading? If you ever trade in stock exchanges or forex, you can try gaining profit with trading. If you are not experienced do not ever try now since you are already in debt.
The best mistake you had is buying bitcoin with credits. Do not ever do this again. You need to wait and hold bitcoin until it gets higher than 19k. This may take weeks, months or years maybe. You may have to pay credits with your wage. But I am sure bitcoin will reach and overpass 19k level at some time.

[bitcoinvamp]

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

There is only one thing that you should probably do right now is that you HOLD your bitcoins for now and just try to forget that you ever bought them. Just don't see the price after few minutes or even after days. Just wait for the end of the year as that is the time you gonna say thanks to yourself for holding your bitcoins when the price would be way more than 19000$. Also, i know it is hard to wait when you know you are in huge loss but i think you don't have a choice here so you have hold and wait for the right time.

[aardvark15]

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

Hold if you can. The difficulty in your situation is that you bought on credit which I assume you mean you borrowed the money and have to pay interest.

If you’re paying high interest rate like over 15%, then you have no good choices. If you sell you lose more than half your money, if you hold you pay a ton of interest. You need to do he math on which is best if it takes a year to get back to $19,000.

If you are paying a low interest rate, the answer to me is easy. Just hold and you will make a profit eventually.

[greensheep]

indeed, hold your coins!
Maybe converting 1 btc into a promising alt is also an option! But this time do a good research!!!

[Nosk]

indeed, hold your coins!
Maybe converting 1 btc into a promising alt is also an option! But this time do a good research!!!

I have a few shitcoins, I threw something like 0.55 btc in 10 alts (more or less equally).
As I monitored them during the last crash, I saw that when the btc goes down, alts go down more.
At the bottom the total value of my alts was 0.47 Btc. Now it came back to 0.53.

Conclusion, it seems like a terrible idea to try to compensate a btc value loss with an alt investment.

[Crytptohack]

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

According to my calculations based on the Gdax exchange, BTC dropped just over 70% from the high last December.  The good news is that yesterday may have been the low for 2018 and it should rebound fairly quickly IMO.

I haven't read the comments above, but just hodL and you should be OK. Look at the longer term, like a few years from now. BTC has had some massive selloffs over the years similar to the one we just experienced. The crypto market is one of the most volatile markets around.

You may want to look into and learn basic technical analysis before investing again.

[btcone111]

If your interest on the loan is high. Maybe it's better to get rid of at least half your holding...
Problem is we might not see a nice pump at least until 2H of this year whereby you would have paid a lot on interest cost. If somehow bitcoin goes into a bear market, you might lose so much money.

It's important to risk management at this stage, not maximizing gain

[lx001]

It's important to risk management at this stage, not maximizing gain

You are saying something about risk management to someone who did invest more than he could afford to lose, and most importantly with borrowed money. Actually I think he is a troll because such people would never wait so much and would panic sell much earlier when the price started to go down, especially when you took a credit.