Brought Bitcoin in 2017 and sold in 2018

[RealMalatesta]

I have a friend who borrowed money from his colleagues and bought BTC during the bull run last 2017. He was so regretful when the market started dropping down. He's still paying the borrowed amount until now using his salary. He's still hoping that the bull run would happen again soon. It was a wrong move for him to be influenced by the hype during that time but it's a lesson that he will bear until he's done paying his debt. Excitement and greediness could lead us to wrong decisions in life. It's fine to hope for a good gain but we should also consider the market situation.

Yeah, borrowing to gamble and borrowing to invest are two very big mistakes any noob could do. You don't know how well of an investor you are, maybe you will double their money or maybe you will lose all of it, you don't know how good you can be and that is why I think it can't be stressed enough how important it is to only invest with your own money and even with that money you should only invest with money you do not need at that moment, do not go all in with all of your money because it could cripple your finances beyond your imagination if things go south too much.

Just invest with 5% of your monthly income per month and with that you will both have a good investment portfolio over time and you would also never buy at peak and have to wait, you will buy at lower ends and would be easier to profit that way.

[Gibreil]

If you really did this, I would actually consider you as an unlucky person. This shows that you don't believe in bitcoin and just bought it to gain profits.
If you would have truly believed in bitcoin then you would have never sold it in such a low price.
If you had an emergency then that's a different thing but if you just did it for speculative purpose then you have just encountered a huge loss.
You still have the time with what you have left. You can either hold your altcoins or convert them into BTC and wait for BTC to rise up again.
We all know that BTC will "surely" rise in price but it will just take some time.

You are right! Specially if he bought bitcoin during the peak season and sold it to the deepest candle stick. Probably, he had no more capital or even he has, a lot of money wasted from that wrong decision and timing. Bitcoin gives profit yet, it makes people suffering from crisis. So, better to plan what we need to do as a step to have profits.

[ethereumhunter]

If you really did this, I would actually consider you as an unlucky person. This shows that you don't believe in bitcoin and just bought it to gain profits.
If you would have truly believed in bitcoin then you would have never sold it in such a low price.
If you had an emergency then that's a different thing but if you just did it for speculative purpose then you have just encountered a huge loss.
You still have the time with what you have left. You can either hold your altcoins or convert them into BTC and wait for BTC to rise up again.
We all know that BTC will "surely" rise in price but it will just take some time.

You are right! Specially if he bought bitcoin during the peak season and sold it to the deepest candle stick. Probably, he had no more capital or even he has, a lot of money wasted from that wrong decision and timing. Bitcoin gives profit yet, it makes people suffering from crisis. So, better to plan what we need to do as a step to have profits.

But people would need to be patient to hold bitcoin, and no one knows how long he must hold his bitcoin. Not all people can do that since the bitcoin price is up and down, and that can make people sell at a low price than the price he bought. That would be different if he sold his bitcoin because of an urgent situation that needs money to solve the problem. But some people will not be strong enough to hold for more than 3 years, especially if they buy bitcoin when the price is at a high price.

[Romeotom]

If you bought bitcoin in the year 2017 then you are big unlucky man because this year profitable for everyone bitcoin holders. Even now this year big dumping bitcoin price everyday so you can bought some and take long time holding, stay see next market boom.

[MCobian]

It's true that anyone who buys bitcoin in 2017 and sells in 2018 is a unluckiest person. And including those who can't wait for the price
of bitcoin to go up. Though the key to success in trading is patience, without our patience even difficult maintain the capital we have.
Make mistakes when buying bitcoin in 2017 is a lesson to improve.

[Twentyonepaylots]

It's true that anyone who buys bitcoin in 2017 and sells in 2018 is a unluckiest person. And including those who can't wait for the price
of bitcoin to go up. Though the key to success in trading is patience, without our patience even difficult maintain the capital we have.

You're not unlucky when you got the right time of buying at that year. 2017 to 2018 is a big crash that happen from crypto, but there were times where buying at that time is highly recommendable and profitable, it's not a year of unfortunate and tremendous crash events. 2017 to 2018 is the perfect time for everyone, not until late 2018, probably November or December when the bitcoin price already soared up high at $20K, if you bought at that price then I'm sure you're still waiting til it gets higher than that, if and only if you did not sell it until now.

[Lanatsa]

It's true that anyone who buys bitcoin in 2017 and sells in 2018 is a unluckiest person. And including those who can't wait for the price
of bitcoin to go up. Though the key to success in trading is patience, without our patience even difficult maintain the capital we have.
Make mistakes when buying bitcoin in 2017 is a lesson to improve.

Such mistake is inevitable yet we didnt know on what would happen on next year either a dump or continous rise from year 2017.
Patience is indeed needed but there are really times that we cant stop ourselves to do such act to sell off because of our emotions.
Its our money after all but consider this one as a learning that panic selling is never been good.Yes, future is unpredictable but we should
really not get ourselves to be caught on FOMO because when market tends to reverse then we would surely be wrecked hard.

[Pamadar]

It's true that anyone who buys bitcoin in 2017 and sells in 2018 is a unluckiest person. And including those who can't wait for the price
of bitcoin to go up. Though the key to success in trading is patience, without our patience even difficult maintain the capital we have.
Make mistakes when buying bitcoin in 2017 is a lesson to improve.

If you didn't do your research surely you will ends up selling with panic, this industry have volatile nature so those who able to research and assess every situations will have a much better look to the situations and not to sell everything, or they have some good plans in order not to lose the amount that they can't afford to let go, planning and setting up good strategy before dealing with any investment business is very important.

[kaneki007]

I'm sure there will be many unlucky people like you, but this is crypto, has risks. I think there is still hope because in 2020 there is still a long, coin that you hold can be sold and give you profit. I also bought a few coins at the time of the bullrun but I still believe that one day prices will rise again as in 2017.

[FanEagle]

I'm sure there will be many unlucky people like you, but this is crypto, has risks. I think there is still hope because in 2020 there is still a long, coin that you hold can be sold and give you profit. I also bought a few coins at the time of the bullrun but I still believe that one day prices will rise again as in 2017.

Yes, the idea that you should own bitcoins because of what it stands for and not for profits is not something that is as quite common as the early days, it has became some sort of commodity that people are using nowadays and that is why I doubt anyone really uses bitcoin for the reason why it was created all that common. Don't get me wrong there are still people who work and earn bitcoin from their work and the same people who spend bitcoin for other stuff they might need with the money they earned as well, so there is no fiat going in between that earning and spending and purely a bitcoin life in their regular life.

But there is just too many things in life that requires fiat to this day, mainly your bills for example which is mostly fiat, and everyone still needs fiat. Which causes everyone to focus on getting more fiat instead of more bitcoin.

[bearexin]

You do not have to make a loss when you bought at 20k, it is the selling that realizes the losses that you should be avoiding at all costs.

Now, if you went all in during the 2017 period (some people did, hell some people GOT A LOAN to buy bitcoin, people are crazy) that means you are in a tough spot, but if you didn't went all in during the 20k simply just buy lower and lower the more it goes down and you would be profiting eventually.

Yet if you went all in, the only thing you could potentially do is wait for it to go back up and meanwhile always save up some money and use it to buy bitcoin, you will see that your purchase avarage of 20k will eventually go to 19k, and 18 and 17 and eventually reach to a point where it is under 10k if you buy enough.

[TheUltraElite]

Right, there will be time for us to take risks because with our courage to take risks and get out of the comfort zone will give us the opportunity to get returns that might be better. We cannot stay in the comfort zone when we want something big, but that does not mean we are greedy, because basically we do need to increase profits over time.

This might be true for risk takers but not everyone is a risk taker and that is not bad. One person might have money in store to cover up their losses for a long time but some people may not be that prepared with the market.

Now whether holding long term to sell or day trading to buy and sell are two different things and in my opinion both are important. How much you put in the market is less important than how many way you put into the market.

This is different from diversification - which is a wrong thing in this market, because altcoins are shit.

[buwaytress]

This is different from diversification - which is a wrong thing in this market, because altcoins are shit.

People need to remember, diversification means investing in Bitcoin, in addition to traditional assets. Putting your money into more of other crypto isn't investment, but speculation. Perhaps ETH might get to Bitcoin's level some day, but if you're putting in more money into crypto just to put it into an alt, that's increasing your exposure to crypto, not diversifying.

[Lizzylove1]

You are not the only one in this situation. I bought bitcoin at the peak too, had to use another strategy to recover losses, trading has done more good to me even though I have had some major losses, I am thinking about my 2017 loss anymore because of progressive gain.

[TheUltraElite]

People need to remember, diversification means investing in Bitcoin, in addition to traditional assets. Putting your money into more of other crypto isn't investment, but speculation. Perhaps ETH might get to Bitcoin's level some day, but if you're putting in more money into crypto just to put it into an alt, that's increasing your exposure to crypto, not diversifying.

Exactly, they take it that diversifying means putting money into more and more altcoins and thus increasing their chances of loss. Diversification is for managing risks associated with one to the benefits associated with another, but hey people are stupid and others are using that to their advantage.

ETH is not going to reach anywhere near bitcoin. Maybe by price measures it will be the next highest priced after bitcoin but it is not what the crypto ideals is and bitcoin will always be number one there.

I am thinking about my 2017 loss anymore because of progressive gain.

It is actually bad that people who put their money into bitcoin during the pump were actually manipulated into going FOMO and not buying at a dip. Now when the prices are down people start saying that bitcoin is never going up. Its ironic how much disparity in there in balance of the mindset of traders here. Either their brains have fried with unlimited use of weed or they are just plain stupid.

[Dr.Osh]

I'm sure there will be many unlucky people like you, but this is crypto, has risks. I think there is still hope because in 2020 there is still a long, coin that you hold can be sold and give you profit. I also bought a few coins at the time of the bullrun but I still believe that one day prices will rise again as in 2017.

in fact, many people have felt that since 2018. that is because the pump that occurred at the end of 2017, and early 2018 made many people think that crypto will return to the pump again. however, that did not happen, and it worsened until 2019. well, now, halving will happen again, and I think many people are preparing their assets.
Well, it happened, now hold the assets you have, and think about selling it at a high price in the future.

[imstillthebest]

 you might be unlucky from that time but im sure you are lucky on other times too or on other stuffs not just on crypto  and besides you are not the only one that bought btc that time but there are many people too  . hope you learn a good lesson with it that we must not buy at a high price because the price can usually dump after that and we wont know if when will the price recover again   . so if you are not patient enough you could end up selling your coins at a low price that leads you to loose and regret later on  . stellar is already good to and should not be converted to ripple imo

[Botnake]

you might be unlucky from that time but im sure you are lucky on other times too or on other stuffs not just on crypto  and besides you are not the only one that bought btc that time but there are many people too  . hope you learn a good lesson with it that we must not buy at a high price because the price can usually dump after that and we wont know if when will the price recover again   . so if you are not patient enough you could end up selling your coins at a low price that leads you to loose and regret later on  . stellar is already good to and should not be converted to ripple imo

Patience will reward us success if we can hold enough in a long period of time.

You definitely has to learn more, study the market its past trend so you'll understand that investing in crypto is not a waste of time, eventually the time that we are all waiting for will come, it doesn't matter if we bought at the peak as for sure, bitcoin will rise again and will make a new ATH, and that is the time we should all be waiting for.

[buwaytress]

Exactly, they take it that diversifying means putting money into more and more altcoins and thus increasing their chances of loss. Diversification is for managing risks associated with one to the benefits associated with another, but hey people are stupid and others are using that to their advantage.

ETH is not going to reach anywhere near bitcoin. Maybe by price measures it will be the next highest priced after bitcoin but it is not what the crypto ideals is and bitcoin will always be number one there.

Yup! You're not diversifying when you spread your crypto investments into more crypto. That's just diluting your crypto investment, gambling for quicker returns and risking good capital.

You're diversifying when you add bitcoin to your portfolio. Anything else at this point truly is speculation.

[slaman29]

you might be unlucky from that time but im sure you are lucky on other times too or on other stuffs not just on crypto  and besides you are not the only one that bought btc that time but there are many people too 

People need to realize more that they were lucky if they bought anything in early 2017 and sold in late 2017 or early 2018. At least I know I was lucky I managed to get in and out of most coins (but also unlucky to get in some and never get out haha).

I keep saying, we're lucky and it's all about timing. Accept that, or think long term and invest in bitcoin as a multi-year project.