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

[Lanatsa]

At least to the OP, the price of bitcoin has recovered and pushes back to more than $22k. So maybe he doesn't need to panic for the meantime as he is about to break even at this point.

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

As long you dont sell anything then it wont really be considered to be a loss, if he had made some average down or DCA then he had already made out some profits in short time and thats the beauty whenever

you do know on what to do on a declining market.It wont really be that simple since this would be mainly playing with emotions and if you do really lack up some market awareness.

Now the price is starting to climb up once again and for those who had bought on that bottom are really making profits on short time.It all matters on risk taking since
not all are really that much confident with it.

[1714981580]

1714981580

[STT]

This recent action is 100% an example to save, print off stick to the wall why you should resist marshmallow hands when you buy BTC.   Dont melt at the first instance of heat appearing, its part of the game you bought into it.   Dont overbuy is a constant message Ive read and understood on these forums for at least a decade and its good advice, dont borrow to buy BTC ever as its just way too volatile and its a bad effect in the end so nobody here wants to see weak hands playing speculator like that.
   Save the BTC graph for at least the last month, great reversal action and quite typical of how it rolls, all over the place

[AjithBtc]

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

As mentioned OP have already made a big recovery. Should not focus just on the decline in the portfolio value, because we have got the same holding in our portfolio and just the value in USD varies. If we have got the patience, then surely bounce back of the value in USD is assured.

[bitterguy28]

There's every possibility that it can go as low as $10,000, though it calls for panic, but take a chill pill. No cause for alarm. The inflation won't last forever. For everything, there's a season.

There's every possibility that btc could rise to $100,000. So chill.

this depends on His desire and needing , if he badly needed the funds then there is no other way but to sell now or be loss more in the coming days.

because it sounds like he is not ready to Hold as the post says it all.

what I do believe is that he tries to pull the trigger to earn but the timing is wrong that is why he is more concern now.

[Finestream]

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?

Really? As far as I know, if you still consider panicking when there is a sudden fall back of price, then how much more if the price recovery takes long. There’s no reason to panic mate because that will only lost your focus and determination on reaching your target goal. Bitcoin is highly volatile so expect that it will undergo price changes or price decline from time to time. And you should have been aware of that before entering the market.

[South Park]

At least to the OP, the price of bitcoin has recovered and pushes back to more than $22k. So maybe he doesn't need to panic for the meantime as he is about to break even at this point.

And as what others have suggested, just HODL on your precious BTC. and if you have a chance just buy when the price goes down. You shouldn't stressed yourself because you see your portfolio going down, you should be here fro the long haul instead.

It is very important that before people take decisions that can affect them economically for years to come they question themselves about why they are investing in bitcoin and what are they expecting out of it? Because quite honestly the price at which the OP bought their coins is a good one and most of us do not really see any problem with the decision, however the OP is worried about it which probably means that he didn't really have a plan when he decided to invest in an asset which is known for its high volatility.

[goldkingcoiner]

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?

Panic is the worst thing you can do right now. I would recommend not letting your emotions into ruling your investment decisions. If you want to buy more, thats your decision but it has to be a decision based on the long term expectation of the BTC price. Are you hoping to see 100k? In that case a 23k entry point is quite a nice steal. Anything below that is obviously a nice price to buy at, if you view it from a relative standpoint of the 100k goal. So whats the point in panic?

If you ask any veteran here on this forum they will tell you that 100k is nowhere near the goal. And a lot will tell you they will never sell.

Personally I belong to the latter. Bitcoin will be the global money. Don't cash out for worthless fiat unless you really have to.

[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.

Expect that bitcoin price will never stay up the whole time. It will always have its own lows some time, but this is not enough reason to panic as no matter how the price drops, it will always recover and comes up surging again. All you need to do is be more patient, that way you will never have to be bothered by price fall backs as you never intend to sell at a loss.

With bitcoin dropping back to its current price, it gives more opportunities for people to buy it again. While others have bought bitcoins for over $21k, they will have to be more patient and wait for the price to rise again. And hopefully, those people are not panicking because seeing the price is down again. And this time, we don't know when the price will rise again. And maybe we can rest for a while until the price starts rallying again.

[arwin100]

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?

Nothing wrong upon  buying at the top since you can still recover it unless you dump all the shit you bought. But if you can't handle the pressure much better if you do cut loss then decide if you want to buy again for second time around on another dip or just take home your money and just learn more information about trading.

Better invest on yourself to be knowledgeable traders so that you will not create more further bad decision which can create more heavy loss.

[arufox]

I think you shouldn't panic even if you bought it at $23,500. Although the price of bitcoin had dropped to $19k in early September, now bitcoin is starting to rise where the price of bitcoin again reached above $20k. It's better for you to hold on for now and don't rush to sell because the bull market will definitely happen again even though we can't predict for sure when it will happen.

[Renampun]

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?

don't panic and don't make a loss sale...

the thing you have to do is hold until the price goes up again or buy more if the price goes down to reduce losses when the price goes up. The point is, don't be afraid because the price of bitcoin is very volatile and unstable, so $18k is not the final bitcoin price.

[STT]

The easiest long hold for BTC will be with the people who know the story on Dollar.   If you think all is good on the politics that overshadowed good governance in currency and fiscal budgets then I can understand genuine fear for any long term hold of BTC.  Hence I always say scale in, its a bumpy road but anyone who knows Dollar has problems long term and the debt is great burden to its ongoing value and usage worldwide even then BTC is a good hedge just dont over do it and dont worry excessively.

[darewaller]

People who start to worry about when they just bought when it was recent, make me laugh. The reality is that we are looking at something that is decently doing well enough and that is why I believe that we shouldn't be really worried about anything at all when we are questioning the "fear" factor, fear is something that you feel yourself, same as worry too, that's what you feel and not something you should ask.

If you panic then you panic, and if you do not then you do not, which is why it doesn't matter at all. I believe that we should be focusing a bit more towards what we feel inside, what we want to do, and not what people are telling us to do.

[Falconer]

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?

Tell me, what is your purpose of buying, Do you want to trade in the short term or do you want to invest in the long term?
Panic can happen at any time, it should not only be when you see the price going down but there are times when you will start to panic and can't wait to sell if the price suddenly goes up and makes a profit. Panic depends solely on your purpose for buying bitcoins, meaning you need to pay attention to price fluctuations if you want to trade and ignore fluctuations if you want to invest in the long term.

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?

Buy on every drop and hold on, it's been suggested many times. But you also need to pay attention to how much drop you have to consider adding that bitcoin to stack your portfolio, I might consider a $5K drop for example.

[Viscore]

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.

Obviously, OP is not really much aware about the high volatility of bitcoin. One day, you’ll see it’s moving up, the next day you’ll be surprised it’s now falling down. So never expect for bitcoin price to stay on top all the time. And I don’t think resorting into panicking will ever help you, it will only make you develop more fears and doubts on bitcoin. Instead, learn to be more patient and hold more, and in case bitcoin price drops more, just focus on buying so you can reap huge profits when bullish season comes.

[BitcoinPanther]

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 did not make a mistake. You just need a year or two in waiting to justify that you made the right decision.  Just have patience my friend.

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?

You can start the moment you see that BTC plummet lower than its previous lowest price.  or to say, buy when lower lows appear.  You an set a target of $100 (may lower or higher) gap between the previous lowest price before buying for cost averaging.

[Frengki_cisco]

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?

The current situation i have two stages in making an investment, i know market things like this have happened before, if i want to buy bitcoin i will buy two stages, buy now one stage and buy when Bitcoin really hit rock bottom, it's the best move if you do.

[rodskee]

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?

The current situation i have two stages in making an investment, i know market things like this have happened before, if i want to buy bitcoin i will buy two stages, buy now one stage and buy when Bitcoin really hit rock bottom, it's the best move if you do.

the mere fact that you are investing in bitcoin is that you knew already how much risk you need to put and how much you wanted to earn because this is the safest but fast moving coin so buy coins now or buy coins later? that is what we need to decide and what we wanted to attain.

for OP? there is nothing to worry because it will surely increase in the future , maybe not too soon but at least too sure.

[newdevices]

if you have bought Bitcoin at a price of $23k, of course that should be a concern,
because right now the crypto currency market sentiment is very bad, and maybe the Bitcoin price dump is below $17k again,
in my opinion, just put a stop lose, if the dump is below $17k and the candle closes at the end of the month shows that,
then I'm sure a more severe dump will occur

[South Park]

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.

Obviously, OP is not really much aware about the high volatility of bitcoin. One day, you’ll see it’s moving up, the next day you’ll be surprised it’s now falling down. So never expect for bitcoin price to stay on top all the time. And I don’t think resorting into panicking will ever help you, it will only make you develop more fears and doubts on bitcoin. Instead, learn to be more patient and hold more, and in case bitcoin price drops more, just focus on buying so you can reap huge profits when bullish season comes.

Even if he was aware of the volatility of bitcoin it is completely different to read about something than to experience it, it is very easy to think that you will be able to deal with the volatility of bitcoin but it is when you actually have to see the value of your investment going down when doubts begin to surface, I hope the OP does not sell for a bad price as he has bought his bitcoin at a decent price and the only thing he needs to do to obtain some huge profits is to hold his coins for a few years.