So my portfolio is down %70...too late to pull back now I guess

[Kakmakr]

I have been there several times before .... and if I panicked I would have lost a LOT of money. I bought bitcoins when it was $300+ and also when it was $21000 .....and then it went down with almost 60%! If I sold... I would have kicked myself into a Mental institution, because shortly after that.... the price increased with 800%.. 

If you use Bitcoin as a "Commodity" or an investment option.... you should look at it as a long-term investment. It is not some "Get Rich Quick" scheme, where you come in and quickly take huge profits. 

[Botnake]

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

Yes, I have experienced that before, when I dump because I panic, I just regret it later. You know, if you are into long term holding, you should keep your faith in the coins you are holding as what we are seeing now is normal, we are in a bear market, of course, the price will go down, but once the market will turn bullish, things will improve and it will make you profitable.

Bitcoin will reach a new ATH in the next bull run, believe that.

[jrrsparkles]

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

Typical newbie investors mindset? This is not the first time and this is also not going to be the last time that we see this much of ups and downs in the price range. In general we see the cycle of 4 years so hopefully you will be in profits if you can hold for the next 4 years but never expect the returns on your investment from the next day itself from you invest because everything will take time even rich person like Warren Buffett needs decades to reap his profits in the initial stages.

[D ltr]

keep holding because you've lost 70% can't be saved, just waiting for the market to recover that's all my advice at this time. downtrends like this have existed but are not as extreme as now

[masterrex]

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

I understand how you feel, it's very hard to accept that reality, Im also experienced that in 2019 and it's really hard. Just Imagine 70% of your portfolio was already wipeout so that was really hard to accept that it was happening. but don't let that feeling devours you.

I believe that in crypto everything is possible, so just don't lose hope, because until you hold that portfolio and you won't sell anything, you have still a chance to recover it. just think positive, 2024 is another halving year so who knows that Bitcoin price will achieve another ATH milestone.

[Ultegra134]

I have been there several times before .... and if I panicked I would have lost a LOT of money. I bought bitcoins when it was $300+ and also when it was $21000 .....and then it went down with almost 60%! If I sold... I would have kicked myself into a Mental institution, because shortly after that.... the price increased with 800%.. 

If you use Bitcoin as a "Commodity" or an investment option.... you should look at it as a long-term investment. It is not some "Get Rich Quick" scheme, where you come in and quickly take huge profits. 

As someone who also panics during such periods, I've decided to not resort to any Altcoin purchases and stick to holding Bitcoin. I'm considering it as a long-term investment, thus, I've stopped worrying. Trading and especially dealing with Altcoins was causing me anxiety during periods of recession, that's why I decided to stick to Bitcoin.

[SpenserReed]

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

That's a big chance it will recover soon, just look at BTC 1W chart - we are near very strong support right now. 

[Slow death]

your situation is very complicated, you can choose to hold for many more years waiting for the price to recover and if you have a lot of money invested and if you need to use a part of the money, use a part of the money and hold another part of the money , you can also choose to keep buying every drop because that way when the price recovers you will have high profits and not come out with losses. But pay attention:

-If you bought any altcoin then I suggest you pay close attention if that altcoin still has any future in case it has no future then you can exchange for bitcoin and hold that at least you will be able to recover your loss

[Uang_kartal]

That's right, me too. This downtrend has also brought many surprises in history this year, some even went viral for up to 99% free fall and almost no price. Some prefer to keep the coins stable and accumulate them in certain wallets/markets. You believe the past will repeat itself, maybe saving without cutting the current price like bitcoin and eth could return to a bearish position in the future. natural law predictions can turn a bull market into a bearish one.

[LogitechMouse]

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

I've seen Bitcoin went down more than 80% last 2018 and for sure, there are some investors who experienced way more losses than you have right now.
Same situation here. Your impermanent loss is 70%, and it will not be permanent unless you will sell it. Right now there are investors who are experiencing the same as you right now or even a higher impermanent loss.

In 2018, that downtrend took almost a year before we see some daylight. Now I don't know how long this will happen and there is a chance that it last until the end of the year. The best thing to do right now if you are down 70% is to just stay calm, accumulate more and be patient. Many of us are down as well. Even CZ and Vitalik are down in their portfolio as well. It will recover soon. Just be patient .

[Ale88]

As someone who also panics during such periods, I've decided to not resort to any Altcoin purchases and stick to holding Bitcoin. I'm considering it as a long-term investment, thus, I've stopped worrying. Trading and especially dealing with Altcoins was causing me anxiety during periods of recession, that's why I decided to stick to Bitcoin.

The majority of the altcoins should be just a way to be able to accumulate more bitcoin because when it's alt season they gain value against bitcoin, the problem is that when the market goes down, altcoins lose way more value compared to bitcoin, they are usually very weak. With this I'm not saying that all altcoins are bad, I really like BNB and DOT for example.

[qwertyup23]

This downtrend has been detrimental to my health (mental health). Exactly %70 just now. No lunch money type of money either.

Have we ever experienced this kind of downtrend before?? What's the latest on how long this might last, or if it's even going to recover.

I remember there was an instance that during the last quarter of 2017, the prices of BTC skyrocketed from $4,000 to almost $20,000. Every person who despised BTC at that time was forced to invest and there were lots of people who were also unaware of what they are investing on. When the first quarter of 2018 came, prices dropped from $20,000 to $6,000 and people were losing their minds, saying that BTC is a "bubble" and a "scam."

So what lesson can we gain from here? First, you must always create a contingency plan before you invest. If your investments are down by 70%, then you failed to pull them out before they reached 70% to begin with. Personally, I would HODL your coins since it is already down by 70%, might as well just wait.