Wrong Moves With Your Bitcoin

[hd49728]

Three years ago, I got bored with the movement of Bitcoin so I look for other good alternatives which I can use to replace...unfortunately I decided to go for BTCV all in. And it was a big horror because two months after the price of BTCV dropped to just 30% to when I bought them...got no choice but to cut loss.

You can not know Bitcoin price bottom and can not know what is best entry for your investment. Because of this fact, you must never all in Bitcoin with your money.

Apply DCA (Dollar Cost Averaging) for your entry and you will not feel bad like with all in investment at only one entry price. With DCA, you can buy low, lower or high, higher but with many entry prices, you will have an average entry price for your investment, that can help you to get rid of need to find market bottom.

https://costavg.com/

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[icalical]

unfortunately I decided to go for BTCV all in.

Your biggest mistake is not selling your Bitcoin not even choosing Bitcoin Vault instead of the original Bitcoin, your biggest mistake is you put all of your money in one basket. I think there has been so many thread and post that writes and explain why diversification of investment asset is very important and vital, crypto included. You can sell your Bitcoin and you may buy Bitcoin Vault, but you shouldn't put all of your money all at once in those coin, or any other coin.

[lombok]

What I regret about Bitcoin is that I exchanged all my Bitcoin-paid salary from 2014 to fiat. Supposedly if I kept saving it in bitcoin maybe I would be rich now. Previously, I saved a lot of cryptocurrency in the form of shitcoins which led to scams and fraud, now I only have a few bitcoins left from that year. Ah damn, I'm remembering that gloomy past.

[Kelward]

My only regret about Bitcoin was that in it's early days I was skeptical about it just like many people around the world then, I felt what was this digital currency that is buzzing everywhere, many people like me thought that it was a Ponzi scheme, but today we know better. Even many people that bought it then sold along the line, because they weren't too sure about it's reputation, now that naretive has changed. Most of us that were skeptical are now believers that Bitcoin is the best asset that anybody can hold, it's an asset that will continue to be increasing in value. The best part is you don't need to be rich to start it's investment, you can start with amount that you can afford, be doing DCA method to accumulate and hurdle.

[BlackBoss_]

What I regret about Bitcoin is that I exchanged all my Bitcoin-paid salary from 2014 to fiat. Supposedly if I kept saving it in bitcoin maybe I would be rich now. Previously, I saved a lot of cryptocurrency in the form of shitcoins which led to scams and fraud, now I only have a few bitcoins left from that year. Ah damn, I'm remembering that gloomy past.

I am sorry for your bad decisions, cashing out all your bitcoin but saving shitcoins. It is your painful lesson but I believe mistakes you made are very common with newbies in cryptocurrency market. Because they easily and quickly think Bitcoin is expensive, then decide to buy altcoins, shitcoins and feel better because they own more number of those coins. Hope to get rich with shitcoins and end with valueless shitcoins in their wallets or accounts but have nothing to sell it when those coins are abandoned by developers and delisted by centralized exchanges.

My only regret about Bitcoin was that in it's early days I was skeptical about it just like many people around the world then, I felt what was this digital currency that is buzzing everywhere, many people like me thought that it was a Ponzi scheme, but today we know better.

Bitcoin Spot ETF approvals in January 2024 by the USA. SEC. are strong confirmations that Bitcoin is no longer a fraud. It has been becoming more legally in the USA. and globally.

[Samlucky O]

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days? Three years ago, I got bored with the movement of Bitcoin so I look for other good alternatives which I can use to replace...unfortunately I decided to go for BTCV all in. And it was a big horror because two months after the price of BTCV dropped to just 30% to when I bought them...got no choice but to cut loss.

Please share your story here if you have one so we can learn a lesson or two...

Back then I heard about Bitcoin but never know what it really was, but later I understood what it was I bought many altcoins and also sold some. I was unable to buy Bitcoin then because I thought it was too expensive that no matter the amount I buy I will never make profit because I didn't start early. But today I know a little about bitcoin compeard to then.

[Ale88]

Made mistakes with your Bitcoin in the past...that you still regret or at least considered to be a wrong move especially considering the price of BTC these days? Three years ago, I got bored with the movement of Bitcoin so I look for other good alternatives which I can use to replace...unfortunately I decided to go for BTCV all in. And it was a big horror because two months after the price of BTCV dropped to just 30% to when I bought them...got no choice but to cut loss.

Please share your story here if you have one so we can learn a lesson or two...

I'm pretty sure that at some point we all exchanged bitcoin for some shitty altcoin, I did, and sometimes it wet well because it went up in price more than bitcoin and many other times it didn't go that well, meaning that keeping my funds in bitcoin would have been a better choice. But that is the only way to learn, making mistakes, losing money, it's part of the process and it makes you understand what to do and what not to do.

[passwordnow]

It's always the big mistake that I've done and that's through selling too early my positions even before the bull run. I don't know what came to my mind and I did that mistake and that's because that I've got my determination to hold but it seems that it's not that strong at all and whenever I want to sell, I'd sell because I have my own free will. And it's just that I really need some money by that time so I guess that's the reason and if I'll understand my position.

I was unable to buy Bitcoin then because I thought it was too expensive that no matter the amount I buy I will never make profit because I didn't start early. But today I know a little about bitcoin compeard to then.

This will be the problem of many that they'll always think of buying bitcoin as something expensive. They won't at the opportunity of the current market if ever it bottom rocks again but as of now, it seems that there won't be any signs that it will be down even below $29k. We have seen it at $38k and that's likely the support this time. But looking forward if there will be some possibilities of looking at it at that range, we have no idea if it's going to happen soon.

[umbara ardian]

The OP's story, and countless others like it, highlight the psychology of the human investor. We crave immediate gratification, and losses, even small ones, can send our nerves into a tailspin. We often judge investments based on short-term fluctuations, forgetting the long game.

But here's the thing: true wealth, in crypto or any other realm, isn't just about numbers on a screen. Ask anyone who's held through 90% dips and come out the other side – the experience, the resilience, the knowledge gained – that's a treasure worth more than any quick buck.

Every story is unique, a tapestry woven with individual risk tolerance, goals, and perspectives. What's a blunder for one might be a calculated move for another. The key is to learn from each other's experiences, not judge. Take every story as a lens, a chance to reflect on your own investment journey.

[lombok]

What I regret about Bitcoin is that I exchanged all my Bitcoin-paid salary from 2014 to fiat. Supposedly if I kept saving it in bitcoin maybe I would be rich now. Previously, I saved a lot of cryptocurrency in the form of shitcoins which led to scams and fraud, now I only have a few bitcoins left from that year. Ah damn, I'm remembering that gloomy past.

I am sorry for your bad decisions, cashing out all your bitcoin but saving shitcoins. It is your painful lesson but I believe mistakes you made are very common with newbies in cryptocurrency market. Because they easily and quickly think Bitcoin is expensive, then decide to buy altcoins, shitcoins and feel better because they own more number of those coins. Hope to get rich with shitcoins and end with valueless shitcoins in their wallets or accounts but have nothing to sell it when those coins are abandoned by developers and delisted by centralized exchanges.

Yes, this is normal, especially since at that time in 2014 he was still not married and tended to prefer to waste money on momentary pleasure. Besides that, I'm new to Bitcoin because I get paid using Bitcoin. I don't really understand, and there is a friend who also knows and trades. I was tempted and traded on Bittrex and several other exchanges. Yes, I thought I could double my Bitcoin by buying altcoins, but instead the Bitcoin I had was slowly decreasing due to my lack of accuracy in buying altcoins. Try saving it in Dogecoin or Litecoin or even Bitcoin itself. Yes, this is a very valuable experience for me and maybe it can be a lesson for other people to be careful in trading, investing and choosing altcoins for investment purposes. And as a heart boost, holding Bitcoin is the right and safe choice.

[FatFork]

I've totally screwed up with Bitcoin trades in the past.  When I first started out, I was way too trigger happy, just trying to make a fast profit.  I was buying and selling coins constantly, racking up fees and losing money left and right.   
It was a rough lesson to learn and took me forever to wise up, but eventually it clicked that the smartest way to play Bitcoin is chill out and go long.

Personally, I think it's normal to make mistakes when you're new and inexperienced. What is important is to learn from them and not repeat them.

[Dzwaafu11]

During my early days in the crypto industry, I had upto $158 in my wallet balance, I was told to buy only Bitcoin by the guy mentoring me, which I agreed to it, a few days later, a friend of mine told me that their is not much profit from Bitcoin, so he suggested a coin to me called Gft, I ignored the advice of my mentor and go with that of my friends.

These are because you lack the knowledge of investing in bitcoin investment and you don't have the mind to take the risk involved in a bitcoin investment. That is why you did that. However, I will also blame your mentor for advising you to invest. He could have taught you how to invest, and he should assure you that your investment will take a long period of time before you get a profit. If he did that, you wouldn't sell your bitcoin and invest in a project that isn't worth investing in. However, I can say that you just waste your money by investing in it because I know you won't get anything from it. If you followed your mentor's advice, you would have made it in bitcoin right now.

And it’s good that you realise your mistake now, although it is still never too late to invest. Just because you missed the early opportunity of bitcoin, you can still invest now that you already know the risk, longevity of bitcoin investment, and other necessary things you are supposed to know before you invest in bitcoin because it is not easy to invest in bitcoin. Although this is not the learning process, but how long you’ll leave your money in there is what some people are still scared of.

[DaNNy001]

There has been lot of such instances which I regret right from selling BTC when it was roughly $1000 at the beginning of 2017 and then boom the price reached $20K the same year in December, one more incident which I have repeatedly mentioned in the forum wherein I lost my seed phrase for Blockchain wallet without giving much important considering the price of Bitcoin that time and now I cannot recover it. Also I had converted some of my funds from Bitcoin to a shit coin named Nebilo and lost almost everything and it was not even 10% worth the amount I had invested. These are few of the blunders I have made.

That's some crazy shit mistakes, well atleast you have learnt and took it as a positive energy and I know you wouldn't make such mistake again. For my own experience, I have really gotten such messed mistake maybe that's because I didn't encounter the crypto world quite early but the one I would classify as a mistake would be me selling off my little BTC earnings from the start as of that the price was low and the figure was big , if I had left if till now I know that the earning would be x3 now.

[tbterryboy]

I never doubted the potential of Bitcoin, since the beginning, I've always known that Bitcoin cannot be replaced and even if there are more cryptocurrencies, Bitcoin will still stay on top. So, I never made the mistake of migrating from Bitcoin to other cryptocurrencies, however, since I'm human as well, I did make a few mistakes during the initial phase after joining the Bitcoin and cryptocurrency industry as a newbie without having much knowledge and experience.

The very first mistake of mine was to sell my assets at a very low price just to buy a materialistic thing for myself that I've always wished to have. I know the money wasn't wasted but I could hold them and I would have a lot of money today based on how high the price of Bitcoin went during the last bull run.
I was also a victim of scams back then because there wasn't much knowledge about how things work and I used to believe in cloud mining and similar scams for profit.

[sokani]

Well... if there are no mistakes, there won't be lessons to learn. Some of us have been there, we've had our own share of Bitcoin mistake.

Mine happened some years back. I was just this naive fella looking for ways to make money online, I got introduced to a ponzi scheme. I bought some Bitcoin which I used to participate in the scheme and I got scammed. The bitcoin I bought with few bucks is now worth quite a lot in today's market.

[Lorence.xD]

It was with the previous bullrun; I overlooked price increase before which pushed me to just be too confident and just be firm holding my Bitcoin holdings even if a price correction already happened. I've learned that the market price no matter how high the demand is, will still be prone to changes caused by general factors. In my circle they call me 'diamond hands' for not selling easily. It is indeed the right thing to do in some instances however, if you want to maximize the profit then respect price ceiling and volume in price charts. I ended up selling too late and moving to other crypto with hopes of getting back with my maximum profit thru different coin but ended up with loss.

Don't get me wrong, long term investment is okay as long as you are talking about years for holding. Just be firm of your vision  as an investor of a particular asset.If you can endure just holding, then continue until satisfactory and avoid shifting your plan jist because you had feelings of greed to earn more.

We may commit as many as possible mistakes with our Bitcoin holdings but be sure to learn in between those mistakes 'cox things won't be cheap in return. Also, erase the idea of easy profit in crypto investments. You'd always be encountering challenges along the way such as tempt to sell early.

[Odusko]

What is the need to sell your Bitcoin when you know that the price can recover from at whatever time and this is why it is most important to take concussion and not to jump in and out of bitcoin at frequent, in fact,  i have not been up and doing greatly in my bitcoin accumulation, and my biggest negative hit was when I lost almost 1 BTC to scam project, and funny enough, I won the siad Bitcoin from gambling way back then when the price of Bitcoin was low and I couldn't feel the impact that much, but know that reality is downing on us I realize that I have made a bad mistake to have invested in a cheat coin,
But also I am glad I made those mistakes, at least they taught me the lessons that I have learned so far and as such I won't be making such mistakes again in the future since I also learned from my own mistakes which is the best teacher for me at this moment.

[mirakal]

I’ve got wrong moves but never in bitcoin, that is trusting those shitcoins and meme coins before right after dogecoin has surged very high. I thought meme coins could actually bring the best profits in the crypto market so I never hesitate to make a big purchase and look where I end up, I end up losing and regretting.

So now, I’m trying to recover by trusting bitcoin this time. I’m actually aware that bitcoin is the king of crypto but due to it’s expensive price, I was tempted to invest in meme coins instead. But now that I’ve learned my lesson, I’m back to investing in bitcoin by using DCA consistently and hold them like there’s no plan of selling. For now, I believe that the best time to sell is when the market is already in bull run, but I’ve come to decide that I won’t be selling all my bitcoin that time but continue to hold so I can be able to gain future profits in the next bull run, and of course I’m doing all of this for my future retirement.

[Cryptoprincess101]

Actually some of us one way or the other sold our Bitcoin due to the price drastically going down at some point and bought other cryptos we felt is being hyped and believed that it would be better than Bitcoin but when it starts dumping and possibly the price of Bitcoin starts skyrocketing, there is this anger of disappointment that we have of which I've been a victim of such and after that day I actually sworn I would never sell my Bitcoin to purchase any other cryptocurrency even if I wanted to buy another crypto, I would still hold the Bitcoins in my portfolio.

[mamesso]

Who knows what will happen in the future, maybe Laszlo Hanyecz wouldn't trade his Bitcoins for two pizzas. If you are talking about mistakes made in the past with Bitcoin, perhaps Laszlo Hanyecz is the person who regrets it the most after seeing the reality of Bitcoin trading at prices reaching above $40k per day. Mistakes in investing in Bitcoin or other assets are the most valuable lesson, when the plan has been neatly prepared and followed by action, patience will in any situation provide maximum results.