Missed out on bitcoin, please make me a plan now

[studioman]

I hope you accept a novice like me probably looking like a fool   For a couple of decades the only thing I've invested in has been flats and houses, but thanks to it my financial situation is good enough to accept some risk. I started investing in stocks and ETFs last year and have spent a lot of time practising it. The start has been good enough.

However, while getting myself into that I forgot to pay attention to the crypto side. All the time it was somewhere in back of my mind that I should put some money into bitcoin, but it was such a new world to me I never remembered to get into it. Then to my horror I realised the price has skyrocketed. Well now I've studied some basics and opened a couple of accounts, but it's kind of too late. If I'd actually got into bitcoin I'd probably invested at least 10-15 000 euros in it, which would now give some piece of mind to wait and see what happens. Maybe take what I invested out.

BUT I didn't. So now I'm wondering what to do. If I don't do anything and if there's no major dips anymore my "loss" gets much bigger. But if I put money in it I accpect that not paying attention cost me tens of thousands and then there's the possibility of a dip, which would let me correct a part of the mistake.

I have about 20-25 000 euros to invest in cryptos, some more if there's a terrific buying opportunity. I'm not rich but I've lived a pretty cheap life and worked hard to be able to tolerate losing maybe 10-20 000 and my life would go on with some more too. As long as it's for a good reason and a piece of mind (by not missing out completely) may be a good enough one.

So what would you guys who actually know about these things suggest? What do you think would be a good plan? Maybe put 10 000 to bitcoin now and wait and see what happens? Or are there some other cryptos I should buy? Maybe spread the money? Is there a better buying opportunity for something else right now? How well has stop loss worked with Bitcoin? Maybe I'd invest 6000 with no stop loss, 6000 with a stop loss to 25% lower? Then see what happens and buy more if there's a dip. I know it's a shame I woke up too late so I don't need to be reminded of that, but I would really really appreciate if you could share your knowledge of how to salvage whatever can be salvaged, thank you!!




  




  
  

[studioman]

Sorry I want to add that it's not like I think money means everything or that my situation is tough. In fact I feel quite lucky to be in a situation where I can put some money for these things. It could be better, but could be worse. I also want to say that last year there have been two situations which were so alarming I would rather have those end happily than take all the money in the world. Money helps things, but there are bigger values. But I'm also prone to cycling thoughts in my head even if things are well in general, so I'm trying to find a compromise and asking for your thoughts to make right decisions and maybe find new investing options from cryptos.  

[crdmoney]

First you need a plan . You don't invest with stop loss , if you invest in crypto you just hold without stoploss . If you want to trade , there you go with the stop loss . Put money bitcoin , eth and some altcoins in the  top 30-25 coins in the market , leave them 1-2 years , and you will see how much money you can make with the patience . Don't be emotional , let the money work for you It's never too late in crypto . You'll see , 40 k is to big , 100k is to big and you will never go into it . Go right now , and just start . !

[studioman]

First you need a plan . You don't invest with stop loss , if you invest in crypto you just hold without stoploss . If you want to trade , there you go with the stop loss . Put money bitcoin , eth and some altcoins in the  top 30-25 coins in the market , leave them 1-2 years , and you will see how much money you can make with the patience . Don't be emotional , let the money work for you It's never too late in crypto . You'll see , 40 k is to big , 100k is to big and you will never go into it . Go right now , and just start . !

Thank you so much for your reply, I really appreciate it! I guess you're right, I should probably bite the bullet and accept that I missed the cheaper price and now need to buy for whatever is available. I suppose you guys over here are conviced that it's very likely cryptos will go up sooner or later?

If I'm 70% convinced cryptos will raise in the coming years I could move some extra money from the stocks, but it's hard to be that convinced when I don't know much about this. I've read all kinds of things and most seem to feel positive about it, but I wouldn't mind some more convicing   Of course it's always my own decision and risk. Is there other particular cryptos I should look at and at what percentage would you put money to different ones? Thank you so much again and it'd be nice to get thoughts from others too!

[cytpoway121]

In trading; there is nothing like missing out because there are always oppportunities to invest or trade. The first plan you need on the blockchain trading space is one that lets you learn crypto currency trading. Then another plan that guides you on cryptocurrency market. With consistencies; i suppose yyou will be able to make better choices in the near future. The market is always there for the taking.

Always do your own research

[studioman]

In trading; there is nothing like missing out because there are always oppportunities to invest or trade. The first plan you need on the blockchain trading space is one that lets you learn crypto currency trading. Then another plan that guides you on cryptocurrency market. With consistencies; i suppose yyou will be able to make better choices in the near future. The market is always there for the taking.

Always do your own research

Thank you so much to you too! These may be basic words to you guys, but for me they are valuable parts of the lesson. The way you put it with opportunities sounds much better  I'll get into these. I'll try a couple of more questions:

If I decide to put say 5000 to bitcoin in the first stage, while I'm still stuying the whole thing, is there some particular advice for this move? Maybe try to look for a good moment (when the price is kind of low for the day/days) and that's all  Or maybe set a price limit a bit lower and see if it gets done.             

Are there any particular cryptos that you guys find especially interesting right now (apart from Bitcoin)?

[crdmoney]

Depends on you . If you put now 5k on bitcoin and you wait for the bitcoin price to go to 150k , it's useless to wait to buy at 49k or 48k . Altcoins to look , link , uniswap , theta , zil , dot , egld , iota , xlm , ada , maker , vet

[bitbollo]

I have seen a lot of newbies asking the same question. Have missing the big pump that we have seen in last decade with bitcoin is not just a casualty. A lot of people make the same mistake and probably the were aware of bitcoin.
But the idea that it can be achievable this type of returns with another crypto currency it's something very hard, and implies the risk of getting 0 at the end of investment.
I get some data from this topic https://bitcointalk.org/index.php?topic=2106360.0 "The next 100x or 1000x coin", where people trying to guess/suggest the coin that could receive a big pump.

and these are the results after 3 years:
13,18% Reported a positive result.
10.83% Reported a 0 (total loss)
the others just negative results (prices go down).
(full post here https://www.publish0x.com/bitbollo-cryptocurrencies-blog/a-depth-analysis-of-bitcointalkorg-speculation-thread-the-ne-xpnnjwq )

You should think a lot before investing in crypto because the profit isn't easy at all and mostly of advertised product can be just a loss of time (and money!)

[mk4]

Ah, the classic "too late" argument that people have been saying since like $20,000. Guess what happened to the coins bought at $20,000 if they just simply held and be patient? Probably nothing special, just an easy 145% increase in less than 3-4 years. And bitcoin hasn't stopped increasing yet.

Here's an easy and nifty "trick" for you: https://dcabtc.com/

[Maus0728]

So what would you guys who actually know about these things suggest? What do you think would be a good plan? Maybe put 10 000 to bitcoin now and wait and see what happens? Or are there some other cryptos I should buy? Maybe spread the money? Is there a better buying opportunity for something else right now? How well has stop loss worked with Bitcoin? Maybe I'd invest 6000 with no stop loss, 6000 with a stop loss to 25% lower? Then see what happens and buy more if there's a dip. I know it's a shame I woke up too late so I don't need to be reminded of that, but I would really really appreciate if you could share your knowledge of how to salvage whatever can be salvaged, thank you!!  

The answer is quite simple. The good and best plan is to study, have your own research, and analyze the market on yourself then just enter the market whenever you already had figured how much risk you can take. Crypto market in general aspect is volatile and fluctuates sensitively depending on the flow of the crypto community. It was never to late, and never let yourself be FOMO just because of the current hype. You've already stated on your thread subject that you missed out. Yes, but that must not be your reason to just invest in Bitcoin.

Here's some of my personal suggestion, yet never take this as a financial advice. DYOR and TAYOR.

• BTC in current charts seems in to bullish divergence. It is still altseason so better focus on investing or trading in altcoins.
• ETH, SAND, NOIA, and LIT has the most potential of gaining twice of their current price within this year, or maybe more. But remember, once you already had enough profit, take it and search for another alt that might have a chance.
• Try investing as well on Polkadot projects, but be careful as there are tons of projects that were fake and imitation of the other legit projects.
• Never invest without stop-loss, unless you really had convinced yourself that the crypto you are in would increase.
• Again and again, take a time to research and never let yourself be convinced on just the hype. This isn't a race.

[blockman]

You're thinking and worrying a lot. Just buy bitcoin without any worry and keep it. Wait for the price to increase from your buying price and then sell it once you're in profit if you want.
That's all you need to do and hold it. Don't look at the daily price because it might hurt you emotionally.

[TheUltraElite]

20k - 25k is a big sum of money. Of course you are late in the game and you will end up with a loss if you buy bitcoin or any altcoin at this price trend. The market recently pumped and you are not the only one to get attracted to it right at this time. Nobody cares about bitcoin when it dumps and become bearish - do they?

Putting that aside, you have to first learn to see buying points, right now like I said is a bad time to buy bitcoin because the pump is in my opinion an inorganic one and will drop very soon. Either way choosing a buying level right now is a tough thing to do. I would go with the <30k USD price range to buy but even that is pretty high comparing to what we saw in the last 2-3years. The best way to determine this is to wait for the bull market to reverse.

Important thing is patience. Newbie traders get burnt out because of their enthusiasm, hence dont get too cocky on things.

[MIner1448]

Of course, I recommend that you invest in the Top-5 cryptocurrencies with your deposit of 10,000 euros, then for another 2,000 I would invest in little-known tokens, which have promising projects and change their strategy every month. I do not recommend that you invest in only one bitcoin, it is best to adhere to a diversification strategy.  I wish you good luck!

[Lucius]

No one missed the opportunity to buy Bitcoin, there is enough for anyone who wants it at the moment. What people find hard to come to terms with is the fact that the price is now almost $50 000, and until a few months ago it was even 5 times lower.

How do you make a plan now that will fix the situation in terms of taking things back? I see only two options here - invest now regardless of the price and believe that the bull run will continue - or wait for a new big correction that should happen as every time so far - or maybe not.

As I see it the current situation is that Bitcoin is increasingly positioned as something that only the rich can afford (by which I mean some significant amounts), while the average Joe conflicts with the numbers in his head with how it is possible that his $100 can now buy only 0.002 BTC. Until Joe waits for a better opportunity, for the same amount of dollars he could soon get only 0.001 BTC...

[FanEagle]

I have about 20-25 000 euros to invest in cryptos, some more if there's a terrific buying opportunity. I'm not rich but I've lived a pretty cheap life and worked hard to be able to tolerate losing maybe 10-20 000 and my life would go on with some more too. As long as it's for a good reason and a piece of mind (by not missing out completely) may be a good enough one.

So what would you guys who actually know about these things suggest? What do you think would be a good plan? Maybe put 10 000 to bitcoin now and wait and see what happens? Or are there some other cryptos I should buy? Maybe spread the money? Is there a better buying opportunity for something else right now? How well has stop loss worked with Bitcoin? Maybe I'd invest 6000 with no stop loss, 6000 with a stop loss to 25% lower? Then see what happens and buy more if there's a dip. I know it's a shame I woke up too late so I don't need to be reminded of that, but I would really really appreciate if you could share your knowledge of how to salvage whatever can be salvaged, thank you!!

20k euro is a lot of money, don't know your situation and what you want to do but there are few things you need to check before you can get involved. First one is that you need to make sure you will absolutely not need this money for at least 5+ more years, this money is gone for five years and you will not touch it, can you guarantee that you will not touch this money as long as you can? If you can guarantee it, you could get involved.

Second thing you need to do is make sure you have a goal in mind, you want to make that 20k into 50k? You want to make it 20k to 50k? Or 20k to 1 million? All of them are different, some of them are easier to achieve whereas others are very difficult and requires risk taking. So, if you want to make sure that you get into this, you first need to know what you want to do in the crypto world before you get in.

[livingfree]

50:50

Buy 50% of that capital bitcoin and use the other half for buying Ethereum. As you've said that you're not rich but do you avail to lose that amount? just like any other investments, you should be strong enough to invest in assets.

Another option is to use 80%-90% of that capital for bitcoin and the remaining depends on your choice of alts.

You buy bitcoin and hold it, and that's the strategy you only have to do.

[Twinkledoe]

It's never too late to decide to invest in the crypto market, don't be sad that you've missed out on bitcoin, there are still hundreds of potential projects in this market.
If you want to invest in the crypto market then I think there are potential coins among the biggest caps on the market and their prices are still very cheap right now. Pay attention to Polkadot coin most likely it will be an ETH in the future.

Few years from now and if bitcoin's price will be high, same sentiments that we will read. They missed out on bitcoin. There is no wrong time for entry in bitcoin. As long as you can get profit from your buying price, it is still good. But if you feel it is too expensive now for you to get in, what will be your impression in the next coming months if bitcoin will hit 60k? So what I am trying to convey here is that, no one can give you a plan because it is your money and it is a matter of how you strategize your funds to get the profit from your buying price.

[2double0]

No need to cry as buying dips will also bring some profits to you. Did you buy the dip that happened on 14 Feb? Excuses don't work in financial world and you should take action and wait for its reaction instead of looking for help. There are new IDOs taking place and many coins are still undervalued with a chance to go up any time. Why are you still waiting? Go, find some by DYOR and then invest. Nobody can tell you that specific coin to buy because you will blame them if it will not perform.

[goinmerry]

Maybe I'd invest 6000 with no stop loss, 6000 with a stop loss to 25% lower? Then see what happens and buy more if there's a dip. I know it's a shame I woke up too late so I don't need to be reminded of that, but I would really really appreciate if you could share your knowledge of how to salvage whatever can be salvaged, thank you!!

Rather than take advice from us on what would be the best thing to do, why not put up a market test. You will trade with a low amount and see what strategy will work for you. It's not advisable for you at the moment to just fill your bags quickly as you don't have any idea what you are doing.

You have funds to spare and I think you afford to lose it so use that for the moment while gaining knowledge.

I'm not the type of person that will tell anyone to just buy bitcoin. Even saying bitcoin has a future, that is non-sense if you don't know how to manage it. Trade little by little and don't stop until you understand even the basics.

[studioman]

Guys, this is incredible, thank you so much for all these posts!!! I thought this thread was dead, for some reason there wasn't reminders in my mail. And I was busy trying to open accounts, can you imagine the newcomer panic 

I can't believe it's been so difficult to open an account.

etoro = doesn't accept phone number -> waiting for a reply from customer service
Binance = verification status still "pending" -> tells to go add a bank card, doesn't work and I've seen I'm not the only one with this problem
Coinbase pro and Coinbase => This one actually works. Coinbase has high fees but I guess I should accept that. Coinbase pro may be difficult for a newcomer.
Kraken = This is finally working. Had to contact the customer service robot but I made my first trial purchase.


I'll go to your messages now, there's quite a few waiting 

The reason why I'd like to invest with a risk is that I basically had been planning to join the previous price jump, but at the moment had my money tied to real estates. Last year I started investing in stocks and all the time it was somewhere in my mind that I should put some money to Bitcoin, but just didn't do it or watch what was going on. I guess it was a scary world and the stocks thing took all my thoughts. Then I realized the prices are 5 times higher and that if I'd got into this I'd certainly invested pretty much money at the time.

Without that I'd be happy to put whatever I put and watch others become rich - or lose their money. Now I feel I have to bite the bullet and risk some money. If bitcoin (and maybe some altcoins) do raise in value I can invest that money in real estates and thus ultimately gain something useful from this. I know it'd be very little compared to being early enough, but still some piece of mind. I'm also fortunate enough to be able to lose some money (of course wouldn't be nice) in this and probably to invest some more if the prices come down a lot. 

So I've accepted I've "lost" a lot and now am ready to gamble for piece of mind. Unfortunately I'm new in this and I have to say I'm amazed by how you've taken me and advised me, thank you so much!!! Now a couple of more questions:

1. So I have an account in Kraken. I live in Scandinavia and I don't know how long it takes to get a harware wallet sent here. Obviously there is no wallet in Kraken, just the exchange part. So if I buy say 10-20 000k of cryptos where should I transfer the money? I've tried to read this and obviously there's online wallets, I guess that's better than nothing. So do I open an online wallet and what do you recommend?

2. Obviously there's one in Coinbase but are there large transfer fees etc.? Or should I send the cryptos to Coinbase Pro? 

3. And ultimately, maybe a paper wallet would work, but do I then do that from Coinbase or from another hot wallet?

 THANK YOU GUYS, SO SO MUCH!!!