I messed up and feel terrible about it

[GideonGono]

I messed up, big time. I don't think I've messed up that much in a long time.
I sold my almost last bit of Bitcoin I had, (about 0.03 BTC), during yesterday's new all-time high at approximately 37.000 Euros. It's definitely a small amount, close to nothing, especially when comparing to what you guys probably have, but I totally screwed up.

I did it thinking that the price would crash later on, then proceed to spend that money to buy more Bitcoin, but I don't see that happening. I should have kept my balance intact, 0.03 BTC would still be 0.03 BTC, now, in order to buy back I'd have to spend way more money than I would. I think that I might be panicking way too much for nothing, I mean it can't continue rising forever, but the thought of regret is eating me.

I don't know but as a trader you should provably get used to it you could call it as an experience and I think most of us had the similar experience,
Specially those who gets caught out of FOMO letting their emotion gets them.
Don't worry about it if you want to continue to trade I could guarantee you that it wouldn't be the last,
Just joking but you know that jokes are always half meant.

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[age7393]

Well, I would not say that you made a mistake. Nobody knows the highest price, and the price that you indicated is quite high, so I would not blame myself ...

[irixo10]

You should learn to control yourself in this market especially when it comes to Bitcoin. Let me ask, what if you had slept and woke up, only to find out it has dumped badly, what would you have done, maybe hurt yourself or refuse to eat for days. The truth is, no one can predict this market therefore when you sold in profit which is the most important, then don't regret it but learn to be contented with it. No one knew it will pump like this, therefore since you had it in mind to buy back later, if you are yet to do so, then wait for market correction and do so, stop worrying too much as it will not solve anything but learn from it, maybe another time, sell a portion at a time, such that when it goes up, you won't miss out but sell again.

[Ultegra134]

Thank you for your replies! Made me feel a little better.

I am by no means an experienced trader, I've definitely made mistakes in the past and will probably continue to do so. I usually bought at corrections and then proceed to sell them at a higher price, sustaining a decent profit. However, that's not the case with Bitcoin. The 0.03 BTC was half of my balance which I was holding since 2014-15 if I remember correctly. Used to have approximately 0.055 BTC and sold half of it.

I can't actually remember how I acquired that Bitcoin, it was definitely not bought though. I was holding it for many years and I actually felt I was missing out, like a user mentioned.

I sold my almost last bit of Bitcoin I had, (about 0.03 BTC)

This is how FOMO looks like: buying or selling without thinking much.
If you buy back now, then you've lost about 38 EUR. If you buy back later, who knows? I don't. Maybe you'll make a better business or a worse one, depending if/when/how big a correction could be.

And I couldn't agree more, in the worst case scenario, I've lost around 40 Euros, it's definitely not the end of the world. There are others who have sold (Myself included, at some other instances) at a lower price, or have spent them in the early days.

I'm hoping for a slight correction, to buy back the amount I sold and some more to set aside.

[Sterbens]

I haven't sold a bit for 8 years, it's very hard to pass $1K, $10K, $25K without doing it but I'm in for the long run. I'd advise you to buy back at least 0.05 BTC because you never know how high BTC could be in the future, the potential is HUGE.

wow 
you are a true holder who can get this far to the highest point with the toughness to last for years. I wish I were like you when I held it and didn't let go too early in 2017. And it's over. You are brave enough and have a super holder mentality that I just found out that there are still strong defenders with the temptation of bitcoin buoys.

[pinggoki]

Actually bro you didn't mess up just because you've been sold your 0.03 bitcoin because if you've already had profit then why not? it is okay because you already convert and sell it into fiat. Don't make sad about it and what you are feeling right now is FOMO or fear of missing out, you are scared of what would happen again in the next few days on bitcoin if it will pump up again or not. What I am trying to say is that don't regret what you've done because it is normal that sometimes if we have already made a profit we are obligated to get out.

[iTradeChips]

Umm, you did not messed up. You just sold your BTC at the time you decided is the right time to sell your Bitcoin. You should be well aware that nobody knows the future. You will never know if Bitcoin will come 40,000 dollars tomorrow or in 5 years. Just because it went up so quickly and you are not there to enjoy the profits does not mean you have messed up your investment. If you profited when you sold the BTC that would be it. Someone bought your BTC at a very high price and might be the next one that will hold the coins until the coin goes to 100,000 dollars or near it. Be grateful that fate gave you a chance to sell your Bitcoins and got something out of it.

[tranthidung]

In theory this sounds very easy but since OP is obviously not an experienced trader ( otherwise he wouldn't make this topic) chances are good that he ends up with even less bitcoin than he would have if he just buys back with the loss (which I don't suggest btw).

Afterall, OP sold it at the all time high so even  from that point of view it's not a horrendous mistake.

It takes time to practice but nothing bad to practice if OP are not going to gamble with margin trades. In the time bitcoin rises or falls 20% like this newest wave, waiting to take profit or buy at dip with the percent of falls or rise at 1.5% to 4% is cool. You can do it many rounds and enjoy the lively trading time.

1.5% and 2 times per day that total to 60 times per month. The net effect would be 90% and I don't have to wait for a rise at 90% in one or few days.  

I gave rough numbers and don't say complicated (and non-sense) things with TA indicators.  

TBH, sometimes I made mistakes and got temp loss in BTC but I did not feel bad when I have profits to spend for my daily expenses.

[NotFuzzyWarm]

Meh.
@OP, you did not 'mess up'. You took your gains at what looked to be a good position - and it was. The fact that price continued to rise is beside the point.

In my case, I sold a few BTC late last Dec @ $28,500k to pay off the mortgage on my house (which I did and THAT was very satisfying). The jump from under $11k in Nov up to my sell target made it look like a good decision.  Now am I pleased that shortly after my sale BTC continued to skyrocket and hit above 35k meaning I could have spent less coin - well no, however, I nonetheless accomplished my goal so I'm good with the decision. This rise to almost $50k is certainly a kick in the butt however, BTC could have just as easily tanked back down to what were more reasonable historic levels instead.

Luck & timing is what it is...

[buwaytress]

If you're living in Europe, then you can easily get that same amount with a few months of salary, and that's assuming you're in a low min wage country. Don't worry too much about it. Get right back in, and then keep stacking. Why'd you sell if you didn't need the euros? Like NotFuzzyWarm, I sell all the time to pay bills and larger chunks when I need. No point to regret. At least if Bitcoin ever crashes to zero, we'll have gotten some use out of it.

Also, you can probably save the same amount if not more doing your signature campaign for a few weeks. Stack those sats, OP. Stack. Those. Sats.

[panganib999]

Umm, you did not messed up. You just sold your BTC at the time you decided is the right time to sell your Bitcoin. You should be well aware that nobody knows the future. You will never know if Bitcoin will come 40,000 dollars tomorrow or in 5 years. Just because it went up so quickly and you are not there to enjoy the profits does not mean you have messed up your investment. If you profited when you sold the BTC that would be it. Someone bought your BTC at a very high price and might be the next one that will hold the coins until the coin goes to 100,000 dollars or near it. Be grateful that fate gave you a chance to sell your Bitcoins and got something out of it.

BTC is a volatile type of coin. The value of it can change time by time. And I agree that we didn't know what will happen to itd value from time to time. Trades might predict and some of the pump signals activity yet we do not know the actually 100% happen of it. It is okay that you think that you sold your bitcoin for low price because in that time you have a high profit to take and for you, you have a win win kind of effect. And you also used that money in the long time ago right? Actually you do not lose. You won in that time, and in this time it is just a matter of changes that btc value become high. And I also experienced same situation because I sold my bitcoin last 2017 and happens to regret later on. But I realized that I gain profit.

[NeuroticFish]

And I couldn't agree more, in the worst case scenario, I've lost around 40 Euros, it's definitely not the end of the world. There are others who have sold (Myself included, at some other instances) at a lower price, or have spent them in the early days.

I'm hoping for a slight correction, to buy back the amount I sold and some more to set aside.

Keep in mind that if there will not be any correction in the near future, there's also the chance that the 40 EUR were not the worse case.
As I said, I don't know what's going to happen next. Trading is fine only for those who can "read the trend" and can also take the safety measures to limit the loses.

[NotFuzzyWarm]

Keep in mind that if there will not be any correction in the near future, there's also the chance that the 40 EUR were not the worse case.
As I said, I don't know what's going to happen next. Trading is fine only for those who can "read the trend" and can also take the safety measures to limit the loses.

Ja.
Speaking of 'reading the trend', given the nice roller coaster of the previous weeks this year I figured I should try my first round of sell-high, buy again at low trading (all my coin has been earned through mining since 2014) so last week did a 0.25BTC sell @ $38,500 to hold in my BTC brokerage act and setup up a buy-back for when it again dipped to around $32k. Looked like a safe bet  

Rather rude of Elon to screw that up... Oh well, guess only Time will tell if we can ever again buy at that price point. If things seem stable for a while at the new highs I'll probably revise the buy-back to something just under what I sold at. Until then the money stays in the trading acct. At least it (should) never equate to a loss unless everything goes to Hell in a handbasket

[Ultegra134]

Keep in mind that if there will not be any correction in the near future, there's also the chance that the 40 EUR were not the worse case.
As I said, I don't know what's going to happen next. Trading is fine only for those who can "read the trend" and can also take the safety measures to limit the loses.

Ja.
Speaking of 'reading the trend', given the nice roller coaster of the previous weeks this year I figured I should try my first round of sell-high, buy again at low trading (all my coin has been earned through mining since 2014) so last week did a 0.25BTC sell @ $38,500 to hold in my BTC brokerage act and setup up a buy-back for when it again dipped to around $32k. Looked like a safe bet  

Rather rude of Elon to screw that up... Oh well, guess only Time will tell if we can ever again buy at that price point. Until then the money stays in the trading acct. At least it (should) never equate to a loss unless everything goes to Hell in a handbasket

That what I was planning to do and well, didn't go according to the plan. But from my point of view, it can't just stay at that level, there will be corrections, I guess? Won't the price fall after the Tesla trend dies down after a few days/weeks? It's something that sounds logical to me.

And I couldn't agree more, in the worst case scenario, I've lost around 40 Euros, it's definitely not the end of the world. There are others who have sold (Myself included, at some other instances) at a lower price, or have spent them in the early days.

I'm hoping for a slight correction, to buy back the amount I sold and some more to set aside.

Keep in mind that if there will not be any correction in the near future, there's also the chance that the 40 EUR were not the worse case.
As I said, I don't know what's going to happen next. Trading is fine only for those who can "read the trend" and can also take the safety measures to limit the loses.

That is correct, the 40 euros loss isn't the worst case scenario. I might end up losing more if I do not buy any time soon. This, in case it continues rising or stays at that price level.

[Oceat]

This is what it feels like when using emotions while trading or shall I say you dumped it because you believe it was going to dump soon just like what happens in 2017 after reaching a $20k ATH it starts to fall gradually plus considering the price correction after the ATH and I believe everyone did dump their Bitcoin too that's why it plummet too fast.

I think you just need the profit, so why regret and feel terrible about it? When you still have a chance to gain that Bitcoin you've lost if you are patient enough to wait for the right time to buyback. But if you really needed the money why you sold it too soon then I guess you are not the only one learning the hard way.

[Jesabela04]

You're not alone because we all have that kind of experience. We usually fail and learn from it. You actually did a good job because you still got a good profit. Always keep in mind that a profit is still a profit no matter how small it is. There are still lots of chances for you to reinvest again so don't feel bad about your experience.

[Bitcoinislife09]

I messed up, big time. I don't think I've messed up that much in a long time.
I sold my almost last bit of Bitcoin I had, (about 0.03 BTC), during yesterday's new all-time high at approximately 37.000 Euros. It's definitely a small amount, close to nothing, especially when comparing to what you guys probably have, but I totally screwed up.

I did it thinking that the price would crash later on, then proceed to spend that money to buy more Bitcoin, but I don't see that happening. I should have kept my balance intact, 0.03 BTC would still be 0.03 BTC, now, in order to buy back I'd have to spend way more money than I would. I think that I might be panicking way too much for nothing, I mean it can't continue rising forever, but the thought of regret is eating me.

I think we all made some mess-up decision that losing us money I also do this by selling my bitcoin at a low price to invest in other altcoins in the market but I think it's a good investment already since the profit I made is also triple of my investment. But in the volume of your investment in bitcoin, I think it is really a bad decision since you could earn a good amount holding that bitcoin up to 50k$ or even more. But at least you still made a good profit with the cashout and with that profit, you could easily reinvest and earn more with your profit.

[CarnagexD]

I can see this bwing your first time experiencing this huge regret after a wrong decision made. Don't worry, you are getting there my brother. This will not be the last of your mistakes in the cryptocurrency investment industry, but you should also keep in mind that there will be more winnings in the future, provided that for every mistake you commit, you learn something new which in turn is applied in your future decisions.

You're not alone because we all have that kind of experience. We usually fail and learn from it. You actually did a good job because you still got a good profit. Always keep in mind that a profit is still a profit no matter how small it is. There are still lots of chances for you to reinvest again so don't feel bad about your experience.

Definitely, look at the bright side just like what they say.

[Yatsan]

Regrets do always come after doing decisions based on your own instinct of what you think things will get into. But regrets are part of learning and that will make you improve as a better individual so that once you get into the same situation once again, you would already know what exactly you will do. I do not think if it will make you feel better saying this but I do also have made lots of terrible decisions before until now but still I manage to lift myself up saying that I would just try my best to get better the next time around. Being messed up and feeling terrible is just normal in this workplace because we exactly do not know what will be the next phase or what will happen next.

[Jaycee99]

I messed up, big time. I don't think I've messed up that much in a long time.
I sold my almost last bit of Bitcoin I had, (about 0.03 BTC), during yesterday's new all-time high at approximately 37.000 Euros. It's definitely a small amount, close to nothing, especially when comparing to what you guys probably have, but I totally screwed up.

I did it thinking that the price would crash later on, then proceed to spend that money to buy more Bitcoin, but I don't see that happening. I should have kept my balance intact, 0.03 BTC would still be 0.03 BTC, now, in order to buy back I'd have to spend way more money than I would. I think that I might be panicking way too much for nothing, I mean it can't continue rising forever, but the thought of regret is eating me.

You did was a panic selling same as panic buying. one thing that I thought you should do to buy more add up the value of money and invest back in, you might get lucky, Why did I say that it may sound like a noob to others but my point is if can you guess or can see the value for bitcoin goes up now many people will buy a chance of making the value go up and go down. You'll make a gambling decision the worth of your bitcoin that you sell add more money to it and buy.

For that reason, you should now start trading which is the smart thing to do for your case there you won't regret that you made a decision to trading.

https://www.thebalance.com/day-trading-versus-long-term-investing-4139868

Likely you should learn that there can be a big good spot for trading in your case like holding a bitcoin let say there can be advantages and disadvantages and same as trading your start studying now if you like to earn and you won't regret that you sell your bitcoin.