Purchased at $23,500, when should I start to panic? When should I average down?

[Rufsilf]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

You found it a mistake because you see the price went down after buying but if you have see prices goes high, you really be saying "I was right".
But I say it wasn't really mistake, it was just in the wrong time. What you need is hold and wait for the price to rallies back, it actually come someday, just be patient.

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Actually, you can have it now. Instead of thinking selling your first bought Bitcoin, better keep it and accumulate more. In fact, that was the thing we supposed to do, "as  wise investor".

[ethereumhunter]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

I advise you not to panic right now because bitcoin will surely return to the level of $23,500 and even higher. You can try to buy bitcoin again at the current price level and I think it will lower your average buy price. As long as the price is still under $20k, I think it's a good low price to buy but it's up to you because you have to analyze the price you want. We'll never know if the price of bitcoin will ever get back to $15k or even $10k and if it does, I'm not sure it will happen any time soon unless some really bad news hits bitcoin.

[tbterryboy]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Why did you buy at 23.5k? What did you do when the price sits at 20k and lower? But it's acceptable if you are away last time or if you are a new comer in here. The price did drop by 5k. I know it's kind painful seeing it but I think there is no need to panic as panicking can only cause more problems.

Just try to be calm instead because btc price can always recover. If not these coming days or weeks then it can surely occur on the beginning of October. If you want to, you can start adding more coins now in your stash. This price is better than your last buying price so this shouldn't gave you a heavy regret if ever the price drops more.

[harizen]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

What you are seeing currently is a "paper loss", not unless you hit that sell button (on which not a good idea). No need to panic as you have no choice but to hold in the first place. Besides, reaching the $23,500 level or higher is realistic. You just need to maximize your patience though.

If planning for another entry, then just buy at the current rate or the moment you think it's a good buy. Waiting for $10,000 or $15,000 is not wrong though but are you willing to wait for that price before taking an action? Regret is really part of the game and you can't avoid doing a risky move.

There are lots of "what if" after you made an action that's why you really need to stand strong in your decision.

No one should decide for you what will be your next move but only, it's you.

[Sanitough]

1 BTC equals to 1 BTC. This is an unrealized loss, you do not have to panic, check the price history of bitcoin and see the good reason not to panic. If you can hold for like 2 years, you can just leave it there and see when the bull run will start. I will not advice you to sell in loss if you do not need the money for anything now.

Unless there’s no reason to sell, then panicking should be out in the picture. Bitcoin is highly volatile so expect that its price will move upward or in downward trend from time to time. Just stay patient and never check more often the price chart if you’ll be easily affected. That way, you will not be bothered especially when bitcoin price plummeted.

[Tony116]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Why did you buy at 23.5k? What did you do when the price sits at 20k and lower? But it's acceptable if you are away last time or if you are a new comer in here. The price did drop by 5k. I know it's kind painful seeing it but I think there is no need to panic as panicking can only cause more problems.

Just try to be calm instead because btc price can always recover. If not these coming days or weeks then it can surely occur on the beginning of October. If you want to, you can start adding more coins now in your stash. This price is better than your last buying price so this shouldn't gave you a heavy regret if ever the price drops more.

Maybe he is new to the market, the price did drop by 5k is a small drop and bitcoin could also go up to 5k in short time. Since he bought at 23k he should not rush to buy at current price, in my opinion he should wait for bitcoin to drop to 15k or maybe lower then keep buying.

Calm is what he needs to do now, don't panic or continue to buy in fear, uncertainty. Once you are not sure about something, you should calm down to review it all.
If you still believe in bitcoin, prepare a plan for the next drop, if you no longer believe in bitcoin then sell them and get out of the market now.

[Vaskiy]

1 BTC equals to 1 BTC. This is an unrealized loss, you do not have to panic, check the price history of bitcoin and see the good reason not to panic. If you can hold for like 2 years, you can just leave it there and see when the bull run will start. I will not advice you to sell in loss if you do not need the money for anything now.

Unless there’s no reason to sell, then panicking should be out in the picture. Bitcoin is highly volatile so expect that its price will move upward or in downward trend from time to time. Just stay patient and never check more often the price chart if you’ll be easily affected. That way, you will not be bothered especially when bitcoin price plummeted.

If you were able to hold unlike the market condition then there is no need of getting into panic. Patience is a must to experience the profit out of the investment. As an user mentioned 1BTC is always 1BTC and the USD value just varies. If you find yourself learning or making your holdings increase, then you can practice trading out of the regular fluctuation. This is risk involved, but the same can give you a learning on money making.

[Kemarit]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

I don't think you made a mistake, so no need to panic and sell it right now because obviously you will not profit. The best thing to do is just hold on it. What if the price shoot up in the next bull run? I guess you have to answer if you are for the long haul or not.

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

$15,000 would be a good price to average, again, what if the price didn't go down that low? You really have to understand what is your main goal first, be a long term holder or sell right away for a small profit?

[LogitechMouse]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

There are no benefits in panicking when you are investing (at least that's what I know).
If you panic, you will end up losing your money permanently but when you decided to hold even the coins you are holding are down, you will be only losing impermanently and you can just hold it until it goes up again. It happens all the time so what you need is patience to go up again.

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Right now, Bitcoin's price is in the ATL of Bitcoin year-to date so you might consider accumulating more Bitcoin again now that it is in the $19,000 price range again. I will not wait for $10,000 or $15,000 because sometimes, waiting will lead to missed opportunities and for sure many who chose to wait are sometimes the one who are feeling a bit of regret. If you have some cash right now, maybe you can accumulate Bitcoin and just be patient to hold it.

[_BlackStar]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

So do you think Saylor also had the wrong strategy when she announced that she was buying bitcoin in bulk between $40K and $50K?

I never thought buying expensive was a bad thing when the price dropped lower over time. You can wait for higher price in the future because the volatile bitcoin price will allow you to make decent profit if you want to hold it long term. Be wise when you own bitcoin, and now think of other strategies on how you can make a profit from it. You can accumulate bitcoin during dip, so make plan well for your future and avoid panic as much as possible.

[STT]

If you dont know when, just buy every month is really simple and easy to do.   Whatever plan allows you to still be buying in 12, 18 months or however long.  Its usually not best to try and enter a market and decide its now the best price or close.   It could be we never see a price again in the teens but usually it requires alot of volume to ascertain a good level of confidence in pricing amidst upset.  I do think the wider market continues to show upset for this whole year so crypto wont have any easy path.  My judgement of BTC overall is that its been doing well in rough weather

[decodx]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

No, you didn't make a mistake, just bad timing. As you can see, it's back to 22k. That's bitcoin! Get used to it.

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Consider buying more whenever you feel comfortable. Don't invest more than you can handle, and don't ever panic. Be patient. It's a long-term game. That's how you make money.

[Silberman]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

I advise you not to panic right now because bitcoin will surely return to the level of $23,500 and even higher. You can try to buy bitcoin again at the current price level and I think it will lower your average buy price. As long as the price is still under $20k, I think it's a good low price to buy but it's up to you because you have to analyze the price you want. We'll never know if the price of bitcoin will ever get back to $15k or even $10k and if it does, I'm not sure it will happen any time soon unless some really bad news hits bitcoin.

This is the most important thing, I think that buying at a price and then the price going down in a significant manner is something that has happened to everyone, but the way to deal with this is to avoid panicking, we know that over the long term the price of bitcoin will eventually recover and the only thing we need to do is to wait and hold our coins, now if someone has some money available and they are completely sure about investing in bitcoin then they can use a dollar cost averaging strategy and try to reduce the average price at which they bought their coins, but even that strategy can be too much for newbies to bear so it is important to keep that in mind.

[Ayers]

yesterday bitcoin is up more than 10% and it's back above $21k, you see nothing to worry about bitcoin falling, it falls and then rises is normal
if you don't get scared, keep catching the bottom and buy bitcoin at $19k a few days ago you are in profit
once you have invested, you should be confident with your choice and always keep a cool head, only then can you overcome the fear and temptation in front of you
bitcoin is a long term investment so don't look at its chart too much in the short term, it won't make the bitcoin price go up, it will only make your fear bigger

[adaseb]

If you bought near $20K, you most likely about it at 1/3rd of the price compared to the people that invested at the end of 2021 and early 2022. Remember how celebrities were pumping crypto at the time. So many people are bag holding at $60K or so. Many already sold at a loss.

Your price is very close to the current price. Just dollar cost average every week for whatever price we are at and hold on to it. Nobody knows what the low will be or if it was $18K. Sure $10K is a great price however everybody is expecting bitcoin to go there and most likely it'll never reach that price and you will miss out.

[EarnOnVictor]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

I believe you are not detailed with your questions as you did not point out whether you are holding it, buying it on the spot market or future. However, if you buy it on spot or hold it, just seatback and relax, Bitcoin will always bounce back to a higher level than where you bought it.

But if you bought it in future trading, you will have to consider your risk in relation to your account size. If your capital could hold it down to $10,000, then you don't have any issue. If not, I would have told you to liquidate the position on sighting a negative price action on the daily chart. Thankfully, Bitcoin is bullish in the short-term trend and might hit back above your striking level of $23,500 in no time.

[pieppiep]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

There's no need to panic when the price goes down because it's only temporary and the price will go back up. Now you can start smiling because the price has increased to $21k even though it hasn't hit $23,500 or higher. It will get back to that price and higher.

If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

[Smack That Ace]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

There's no need to panic when the price goes down because it's only temporary and the price will go back up. Now you can start smiling because the price has increased to $21k even though it hasn't hit $23,500 or higher. It will get back to that price and higher.

If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

There is no need to panic, we can see, according to the OP's post on September 6, the bitcoin price has dropped to $18k but now, in less than a week, bitcoin has also recovered quickly to $21,000. While this is a small, insignificant increase, it shows that bitcoin could also fall but also rise again afterward, so no need to panic but to sell bitcoin at low prices to sharks.

Every time bitcoin drops in price there will be an opportunity, an opportunity for us to buy cheaply, if we want to make a profit, we must buy when the price of bitcoin is down, not sell bitcoin when the price is down.

[GreatArkansas]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?
(....)

(....)
If I bought bitcoins for $23,500 and the price dropped drastically to $10k or $15k now, I wouldn't panic and would use this moment to buy more bitcoins because it was a golden opportunity for me. I'm sure the price will increase and I will get another pump.

Exactly, there are a lot of ways to recover from this, like you Dollar Cost Averaging (DCA) but you gonna need another capital here. That's why when I am buying on the sports market, I scattered my buy orders, or I always reserve some capital just in case the market will go to the wrong side.

[Nrcewker]

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Either you are new to this Crypto industry or really impatient dude.
I mean what’s the use of panicking? It’s normal Bitcoins to fall in it’s price. If you don’t know how the market works then better you should avoid money investments.
You are fearing and that too when you have BTC in your wallet. Just do a quick search on the internet about the marketcap of Bitcoins. That is enough to prove Bitcoin’s power my friend.
Just don’t panic always. Hold the coins for at least a month and then see the profits.