i put almost all my money and lost a lot

[jamesc760]

I really need the OP to come back and start posting what he's doing, so I can do the EXACT opposite. OP, please come back and tell us your actions!!!

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[UnDerDoG81]

You only realise losses when you sell.

Bought at the $280 bubble mid 2013, corrected into the $50-$60 range I believe. Held strong, I just stopped following bitcoin for a while, but had faith it will bounce back and higher just had to wait it out.

I did the same. Bought 17 coins @~250 and then it crashed. I also hold and forgot about bitcoin for a half year. And then we rised. But this only happened because of the Chinese. I´m not sure if this can/will happen again with so much/fast growth in such a short time period.

And the later (or higher price) you buy, the less growth you will get. Buying @$10 and at $100 you have a growth of x10. Now buying @1000 and we need to go to 10000 to have a 10x growth wich is really hard to achive. Early adaptors won again. For late adapters the price could be too high. Why should somebody buy 1 Bitcoin for $10.000 on such an risky market?!

[jamesc760]

because a sucker is born every minute?

I don't mean to disparage newbies but when new users come in, they think they can make a quick profit, just like the OP did. They don't do "due diligence." When news hits that bitcoin has skyrocketed to $10000 from $1000 overnight, people will swarm in. Next bubble in 6 months, watch it happen. Again.

[Dragonkiller]

You only realise losses when you sell.

Bought at the $280 bubble mid 2013, corrected into the $50-$60 range I believe. Held strong, I just stopped following bitcoin for a while, but had faith it will bounce back and higher just had to wait it out.

I did the same. Bought 17 coins @~250 and then it crashed. I also hold and forgot about bitcoin for a half year. And then we rised. But this only happened because of the Chinese. I´m not sure if this can/will happen again with so much/fast growth in such a short time period.

And the later (or higher price) you buy, the less growth you will get. Buying @$10 and at $100 you have a growth of x10. Now buying @1000 and we need to go to 10000 to have a 10x growth wich is really hard to achive. Early adaptors won again. For late adapters the price could be too high. Why should somebody buy 1 Bitcoin for $10.000 on such an risky market?!

Risk is proportional to reward. The risk when the price is at $10,000 almost certainly will be less than it is today so it won't be 'such a risky market'.

[billyjoeallen]

because a sucker is born every minute?

I don't mean to disparage newbies but when new users come in, they think they can make a quick profit, just like the OP did. They don't do "due diligence." When news hits that bitcoin has skyrocketed to $10000 from $1000 overnight, people will swarm in. Next bubble in 6 months, watch it happen. Again.

I was thinking one to three months out, but it could take a year. It took 18 months after the 2011 spike, but the spikes are closer together now and don't go so proportionally high. $2000 to $5000 before the next correction, IMHO.

[Mythul]

OP you already are a winner since you've invested before 90% of the population.
Hell even people who learn about bitcoin in 2 years will still be early/mid investors.

Just invest what you can, hodl and come back in 1-2 years. Don't miss out.

[boumalo]

OP you already are a winner since you've invested before 90% of the population.
Hell even people who learn about bitcoin in 2 years will still be early/mid investors.

Just invest what you can, hodl and come back in 1-2 years. Don't miss out.

You are probably right but it is pretty hard to buy&hold for most people, people look at the price everyday, they panick when they are loosing a bit because they were here to make some money quickly