Bitcoin regret story, Need advise!

[erikoy]

I had love bitcoin ever since when it was being introduced to me by a colleague. I easily understand all the basic in cryptocurrency and that made me get excited even at first planning to invest with bitcoin. Yes, I did gets too much excited and invested in it on some of my earnings specifically from the real estate commission I made during the time when I was a part time real estate agent.

To cut the story short, I was seeing bitcoin as a way to learn more about financial freedom and financial literacy. Bitcoin for me was the perfect medium to achieve my goals on financial freedom. I have been dreaming like anyone else here that are not working but are earning through bitcoin investment.

However, all failed and I did not achieve or reach my goals. I end up into miserable decision making and are afraid because I stake my earnings that when the time bitcoin was crashing I end up selling it minding that bitcoin will going to end. It was like buying high selling low and that made me miserable right now. Why? It is clear that if I only hold bitcoin I can earn 7x of my money being invested. I can even build my dream house in the profit that I could get.

Now, it is a hard lesson to learn. I regret and hopefully there will be another day that bitcoin will be like this in the future.

For those who manage to earn huge. Congratulations guys! You did a great job.

BTW, could you make an advise to me on what to do right  now? I'm a little bit depressed.

Sana all merong bitcoin ngayon!

[Lucius]

There’s a saying that there’s no point in crying over spilled milk because you can’t go back in time and do something different. Life is made up of good and bad decisions, and I’m sure everyone has made a bad decision sometimes, but what’s more important in everything is to learn something from such mistakes.

I guess the time you sold was that 50% drop in March last year, but there was quite enough time after that to get back in the game - unless you spent all the money? I don't want to give you financial advice, especially if it's wise to invest in BTC at the moment - but if you believe that one day it could reach a price that would be x times higher than today, then decide to start anew and try to think positively.

It may not be something that will completely make you happy, but at least you sold your BTC (regardless of the price), unlike those (and there are a lot of them) who became victims of hacking, various scams or in some way lost access to their wallet/backup.

[bassbity]

The events that you experience illustrate that panic can make us unable to control our minds in a healthy manner. what you do is common in cryptocurrency trading. However, make it look like when you drive and look in the rearview mirror. can see the rearview mirror but occasionally, because you have to focus on the front. The point is to regret what happened because you lost some of your profits selling bitcoins, and this will educate you not to do it again in the future. bitcoin is not weak in the market, in contrast to altcoins that only rely on FOMO and HYPE at that time, bitcoin can be used as an asset for the long term. at least you have that point of view. Then the simpler suggestion is when you enter the market and it's bearish. It's better to close your computer screen, and walk away.
than to stare at the downward price movement which will only make the panic feel even bigger.

[acroman08]

I don't really know what's your financial status right now and if I do I can't still really advise but all I can say is push forward and try again when you are ready. but you should make it a habit to always invests what you can afford to lose(just like in gambling) so you won't be panic selling when the price started going down.

anyway for those who might be curious what the last sentence is. "Sana all" is a popularized phrase in the Philippines means "I hope all" and to complete the OP's sentence "I hope all have a bitcoin right now."

here's a link of urban dictionary definition of the word "sana all" https://www.urbandictionary.com/define.php?term=Sana%20all

[logfiles]

We all do make mistakes, gladly take it as a lesson learnt.
There are common pieces of advice that are usually given to newbies and traders who have plans to buy or invest in Bitcoin, I just want to list a few of them that could have saved you from the mistake you made.

1. Avoid FOMO (Fear Of Missing Out). If Bitcoin's price spikes, and you haven't bought it yet, just let it go, there will always come another opportunity to buy it when the price corrects. In your case, you probably bought Bitcoin when the price was already high and was about to start correcting.

2. Always buy the Dip if you want to enter the market - Whenever the Bitcoin price drops massively, that's the best time to buy. I know at that time, it's so hard to enter the Bitcoin market because most people will be panic selling and exiting, but history has it that it is the best time to enter the market. The perfect example is what happened in March last year. Bitcoin almost touched $4,000 at one point. Anyone who bought at that price range and held on to their Bitcoins up to today has multiplied the value of what they invested in by almost 1000%

3. Always use amounts of funds you can afford to lose. This can help you not to panic sell at low prices when the market dips below the level at which you bought your Bitcoins

4. You have got to have patience at times. When buying or investing in Bitcoin. Don't look at a few months in order to make profits. Sometimes it can even take years. For example, we have had to wait for over 3 years in order to see another serious bull run since 2017

[YOSHIE]

BTW, could you make an advise to me on what to do right  now? I'm a little bit depressed.

You should not be depressed and desperate to invest in Bitcoin, the risk is always there, as you say, not everyone is lucky.

There is not much you can do right now, because the price of Bitcoin in the market is getting crazy, you need to be calm and think what is best for you.
Suggestion:
• for now you can trade / hour and day, the most important thing is that you monitor the movement of Bitcoin at any time and your confidence in doing so.
• I think the current Bitcoin price has not reached its true peak, there is still further movement.
• Currently, Bitcoin price has fallen 2.58% to the level of $ 39,590 means that you still have the opportunity to buy and continue to monitor the movement at the lowest level.

For that you must have expertise in monitoring charts and the development of market volume in determining and making buying and selling decisions which are basically trust.

[joniboini]

If you're still interested in investing in Bitcoin, I guess you should make a DCA plan and buy it regularly. Set a proper exit target (either on a time frame or if you've made some profits) so you can manage your funds easily. Learn your mistakes and never sell at the bottom again (if you truly believe that Bitcoin is valuable). But don't forget to take your profits. Ideally, your initial capital must come back so you don't lose anything. I made this mistake on the 2017 top, believing like an idiot that my alts will continue to rise like crazy when I already made more than $1k without doing anything at all.

[jademaxsuy]

If you're still interested in investing in Bitcoin, I guess you should make a DCA plan and buy it regularly. Set a proper exit target (either on a time frame or if you've made some profits) so you can manage your funds easily. Learn your mistakes and never sell at the bottom again (if you truly believe that Bitcoin is valuable). But don't forget to take your profits. Ideally, your initial capital must come back so you don't lose anything. I made this mistake on the 2017 top, believing like an idiot that my alts will continue to rise like crazy when I already made more than $1k without doing anything at all.

Holding is really one good thing to do. I have the same story with the OP but I made it more worst where I end up converting my btc holdings to altcoins and where market becoming worst too. Worst scenario aftee worst and end up all of my funds was wasted. But, I am not afraid to invest again and actually my set profit for btc was so low and probably next time will take it more higher even if it take some time to do it if bitcoin will not skyrocketed to 100K$ this year.

[Bitstar_coin]

All you can do is learn from your experience and move on,  being sad about it or getting miserable won't change the situation, and you can also start accepting that you already lost a golden opportunity, there is no way btc will be coming back down to the level it use to be, but if there will be such a time again, now you already know what to do, many people pass same experience when the market was down as a result of lack of understanding and patience.

[bL4nkcode]

That's a common mistake here, I say mostly everyone feels the same as you especially those who want a living with bitcoin. Even I had the same experience but that doesn't stop me. I'll try investing more btc in long term and make trading in a few btc I have. I just bought btc when it reached 38k~ish today and will sell when the price reaches 41k or so, just like that.
You can try again and again, there's no wrong about it and serve your mistakes before as your lesson today or when the time you're ready.

[Yaunfitda]

Probably the only advise is just continue to earn bitcoin, or what we now called #stacking sats.

No need to be depressed, you have made your decision and you should man up. You are still in a signature campaign so still in a weekly basis you can still earn and build your portfolio this year.

This is just the start of the year, so there's a lot of weeks and months of grinding, but for sure it's going to be worth in the future. Best of luck!!!

[tsaroz]

You have not lost everything. I know you have move forward a lot to look back but there's always a place to start it from the scratch.
If you are still interested in trading, try to learn the market and other investors. Don't jump all in but keep playing with your money till you get a good strategy that works for you. Even in that case don't jump all in and diversify your holding on both trading and passive interest. There are many legit and trusted platform like binance that provides you the flexibility of both saving and trading at will. Keep experimenting what suits you.

[BrewMaster]

I end up selling it minding that bitcoin will going to end.

don't look at this as a regret story, just see it as a valuable lesson that you've learned and gained a lot of experience doing it. what you had experienced wasn't the first and won't be the last either, we will see it repeated at least a couple of times in very similar manner too.

just know that only because price drops it doesn't mean it is the end of bitcoin! bitcoin is just getting started and is inching closer to mass adoption while being far away from it.

[sheenshane]

I have been dreaming like anyone else here that are not working but are earning through bitcoin investment.

It's not good if you rely upon Bitcoin earning and you go full time in cryptocurrencies like trading or investing, we can't be assured to have a stable profit through crypto, but then, the risk was still there.  I sincerely have advice, find a decent job to have a stable salary every month and then invest Bitcoin every month the amount that you can afford.

You're not alone mate, even me, I wasn't able to save my Bitcoin earning due to financial need when there is a pandemic but I didn't regret it because it was saved me during that time and I still blessed that I have accumulated Bitcoin during when I started entering to crypto.  We need to move on and find other ways, though Bitcoin was pumped too much and hit the highest ATH, we are still thankful for that.

BTW, could you make an advise to me on what to do right  now? I'm a little bit depressed.

Just sit back and relax, do exhale, and inhale.  Diversification into other things might good and come back when you are ready.
There's nothing to regret if you use it for a good purpose.

[Darker45]

It's not the end of the world.

What I'm curious of are the specific lessons that you've learned from this depressing experience of yours. What are those lessons that you've learned from it?

There are a lot of us here who are regretful but when the opportunity knocks again at their door, they still wouldn't respond to it.

Bitcoin reached more than $42,000. Right at this moment, the price is just around $39,500. Would you be willing enough to set aside a portion of your savings to buy back Bitcoin? If Bitcoin would even go much lower tomorrow at $35,000, would you be buying?

[khaled0111]

I am really sorry to hear about your current financial situation but you shouldn't spend too much time regretting your past mistake as this is not going to help and may even make your situation worse by making more wrong decisions.
"You can't change the past but you can learn from it".
I wouldn't recommend investing in bitcoin right now as it's at its ATH but you can try day trading and make good profit from the high market fluctuation. But you should pull yourself together before making any decision.

[t00nces22]

The truth is that you will regret the decisions you make that lose more than you will remember and thrill at the wins. Regret tugs harder and longer than the thrill of victory lifts us. The thing is, there will always be another disappointment to squash all hope.... don't dwell on the past.

[Natsuu]

I don't have any grasp on your personality or anything but here it goes.

KEEP MOVING FORWARD. Failures will always be in place of any traders you will meet. I am not disregarding anything about what you feel, as what you've experienced is oohh la la, but I want to say that what happens happens. As what one of my favorite quote says, "You're never a loser until you quit trying".

If you have someone who you can see and call, DO IT!. Personal advice from peoples you trust and know is the best at times like this. The feeling of trust and bond between the persons whom you will call or see is the best feeling.

[Karartma1]

I feel sorry for you but I'm afraid we're gonna be reading way more similar stories in the future. For those who knew bitcoin since the old days, we were expecting some big price rise but the thing is many of us got fooled by the altcoins/Icos/new best coin madness.
It's never too late to get better, don't get so bad at you.

[ShowOff]

BTW, could you make an advise to me on what to do right  now? I'm a little bit depressed.

You really need to control your emotion if deciding to invest in bitcoin. Bitcoin is a very volatile asset and it continues. Everyone probably already knows that changes in bitcoin price can cause losses for investor and trader if they panic. As we all know, the risk will always be there and will never go away. Nonetheless, I think bitcoin has always had the potential to benefit traders and investors alike despite its high price. Trust that your failures this time will be a good experience to start things off on the right.