Wrong Moves With Your Bitcoin

[Lantind]

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.

If you have been able to learn from the mistakes you have made then you will be able to invest well later, because the bad experiences we had were our own fault and it is important for us to fix them and when we are going to invest again we have to be careful so that we don't again making the same mistake as before.

Selling some of your Bitcoin income because you don't understand crypto well, of course everyone has done this and if you don't have any other income apart from crypto income then it is very difficult to be able to hold on for a long period of time and if we have several sources of income of course we will not sell it and will hold it until the target we have set.

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[Asuspawer09]

I have done the same thing selling my Bitcoin in the past, but I guess it wasn't that bad since I still sold it at a profit I used that money for some things that I've wanted, but I guess it is still better if I still have a good investment or if I still holding it that might probably take a long time to profit but it still has a chance for a higher profit. I guess the thing here is we just don't know the limitations of Bitcoin here, we might know that Bitcoin is going to increase its market price in the coming years but how far can it go right? then you're just going to realize that it's better to hold in the end when the market price already skyrockets to something that you don't really expect.

It is surely true that experience is the best teacher, I really learned a lot of things in the past Bullrun, and today, I have already accumulated a fair amount of Bitcoin, I wouldn't sell and to be honest I'm already expecting the market price to drop especially when near the Bitcoin halving there are for sure going to be a lot of up and down that is going to happen.

In the end, the goal of an investment is to earn a profit, there are some investors that don't want to sell their Bitcoin at any market price to the point where there is to point in investing if you not really going to use those funds right. So It wasn't a wrong move to sell at a profit at some point you going to reach a point where you could have a chance to sell your Bitcoin and I could always recommend making a profit if you can since the market is still a cycle so you could always reinvest your money.

[boyptc]

You are making me remember of my friend that has the same reason for disposing and selling his bitcoin. The reason doesn't make sense. He has got bored as well and that led him to sell.

I think that was on 2018 and bored in a way that it was a bear market and prolly he lost hope by that time. A mistake that can no longer be corrected but can still recover somehow through accumulation.

I think thats why we shouldnt be impulsive in making decisions. But if the money actually help him, then it is not a loss after all. your friend can totally jump back into Bitcoin whenever he wants. Crypto's always open for a comeback.

Yeah, I knew that it had helped him but regret is there and he's never come back to this market. He told me that he would by this year because he's aware of halving and bull run.

But I don't know when he exactly DCAed or did he actually do it already or not. I wish him the best as well and told him that I am always here to support him but not financially. 

[Gormicsta]

If we knew what the future would hold, perhaps many people would be more greedy. I once sold bitcoin at a price of nearly $400, but to say it was a complete mistake I don't think so, because I'm still here and my confidence in the opportunity that bitcoin brings is growing.

The story that OP mentioned here is probably the common psychology of many people, they only feel comfortable when the investment profits immediately, or the loss is not too much. I feel like it's more of a short-term trend than a long enough process to see fluctuations. Ask people who have invested for over 5 years if they've ever seen their investment decrease by 90% but still keep it then receive a large profit. Not everyone has the same opinion, as well as approaches to investing, so take every story as a lesson to look back at what your own investment is getting, it's not necessary to always say in terms of monetary profit, but also things like knowledge accumulated and applied back to that field.

Individuals frequently overlook the long-term effects of investment because they are engrossed in the short-term trends and feelings involved. Investing demands perseverance and patience; it's a marathon, not a sprint. A 90% dip can be demoralizing, but persistence can pay off with enormous advantages for those who persevere. You also correctly point out that investing is about more than simply making money—it's also about the knowledge and experience you pick up along every step of the way. That's a really crucial thing to remember, in my opinion, especially for people who are new to investing.

I've also had similar experience as the OP, some years back, I decided to diversify my investment since Bitcoin trend wasn't encouraging, and I've till today regretted that decision.

[LesterD]

I made the same mistake I made in the past. I was holding Bitcoin when the price started to rally. I noticed that the Altcoin price movement was faster than Bitcoin. So, I decided to sell my Bitcoin to purchase a specific Altcoin, but unfortunately, that Altcoin was already at its peak and the price suddenly went down. I don't want to cut my losses as it is only in my Spot wallet, so the only thing I can do is hold it. Nevertheless, the regret of not holding onto my Bitcoin during that time is the biggest mistake I have made.

[Kelvinid]

I can't say it was a wrong move to sell our Bitcoin earlier because what if the price never reached the current price? Let us say it dumps to $1000, I was certain that people are in regret for not selling them as well.

We made a choice to sell or hold and it was not regretting anymore. In fact, we benefited from it as well unless we are selling at panic but I know that the majority are in the profit which means that we are still winning.

The wrong move is that we never invest Bitcoin even though we know it already. It simply means that we are rejecting opportunities.

[Rockstarguy]

I was already aware of the existence of cryptocurrencies it is just that I was so uninterested that I did not want to learn any more of it I thought there was no future in learning such and just accepted that this would be my fate

Years later I finally learn more and now I know better I wish I had already invested way back then

I see nothing bad when people don't invest bitcoin when they have no interest in it. It is better to invest it when their is a better understanding of it, so if you force yourself to invest bitcoin when you have no interest understanding you will end up up losing your money due to lack of knowledge.  I think people shouldn't regret why they never invested bitcoin in the past, whenever people get to understand bitcoin and have good interest to invest in it they surely get the benefit that bitcoin has. It is better to understand it, have interest in it at the right time which it will be productive than to invest in it blindly.

Everyday their is opportunity in bitcoin and their is no late comer in bitcoin. Their are many people that had the chance of having bitcoin but because of the lack of understanding good amount of money was lose in the market. For me I prefer to understand it first and have good interest in it than investing without knowing it better just trying to see if it will work or not.

[0t3p0t]

If you plan to hodl for long term purposes stop watching your investments every single day it might stress you out. Leave it there and relax keep on acquiring more and more Bitcoins use DCA and forget it all and wait for your estimated date like every four years to reap your profits so you are not gonna make any wrong decisions along the way.

[iamsange]

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...

That's a very sad story for yourself because you have made the wrong step by giving up Bitcoin for altcoins whose potential or future is very unclear. If you say for the past three years, that means you are currently in a period of very good market conditions and not at all bad because three years ago was in 2021 which in general the price of Bitcoin is experiencing a very large and quite increase. good for everyone. But I don't understand why at that time you started to not believe in Bitcoin's potential so you were more willing to choose altcoins at the expense of the Bitcoin you had at that time.

Now you should know that there is no better option than Bitcoin so you should go back to choosing Bitcoin and also apply more patience after choosing Bitcoin. Whether it's for long-term investment purposes or other things that can make you more profitable, because Bitcoin always gets better after experiencing a price decline and now you can also see that Bitcoin has returned to more than $43K in the market. It has also allowed more people to profit after regaining faith in Bitcoin in the past year and buying it in amounts they can afford.

[snowpega]

This happens to only faithless people I mean those who just have little idea of Bitcoin and sell when prices make some correct and when they see their read portfolio they rush to sell their amount of bitcoin. These kinds of things happen due to fake FOMO on social media.

Well if anyone has sufficient knowledge he will never sell his points rather he/she will accumulate more by considering it a buying opportunity. Because they know the power of Bitcoin and don't fall prey to any FOMO due to their strong Believe in Bitcoin.

[Pi-network314159]

Earlier this year I fell a victim of it. Where I bought a newly listed coin and I thought it would boom,only for me to discover that the coin dropt drastically down by %30 I was hoping for a recovery sothat i could sell. but to my greates suprise it fell down to %60 before I could no my $30 turned 5 dollar I was so terrified about it that I had sleepless night and after that great encounter I hated the name shitcoin.

[Learn Bitcoin]

I guess I have posted this several times in several threads. My only wrong move was to sell it for a cheap price. I bought Bitcoin before the last bull run and I was holding tight without realizing that the bull run was over now. I didn't understand when I should have existed in the market. I could have some little profit from there.

Later, when Bitcoin was moving sideways, I was still holding with the hope that the bear market wouldn't be there for a long time. Then the lowest price was 15K, but I had to sell my Bitcoin in the 20K range because I needed some urgent cash. That is my only wrong movement with my Bitcoin.

[Julien_Olynpic]

I guess I could admit that I made some mistakes with my Bitcoins. These mistakes were not fatal, but they were an expensive lesson. I was too arrogant about transferring quite a significant portion of my bitcoins into altcoins, I now regret it. But on the other hand, if we don't make mistakes, then we don't grow intellectually. It was my mistakes with Bitcoin that made me delve deeper into technical analysis and wave analysis in particular. And now I’m rather grateful to fate that this happened. Now I look at the chart quite confidently and can tell from it a lot of things that none of the analysts know and that I didn’t know before. This is a bitter experience, but an amazing step in development.

[Hamza2424]

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...

Hmm, What a perfect Youtube Thbmnail OP inserted to get attention for the topic, good job buddy. TBH I'm not used to such large images with no stats (memes are an exception here). At the same time, I wonder if you've chosen an alternative BTCV and I've never even heard about it honestly. At the same time there were many other alternatives if you are not a hard Bitcoiner you could have chosen nay of the alternative to out perform the returns easily.

Anyway, it was up to you, and considering the current market momentum with the 3 years seems like situations are different we are not actively checking-out that the entire market sentiments are highly bullish and that a win-win situation just needs a little patience. Bitcoin is not the best performer at all, Bitcoin is one of the most reliable best performers. If you are willing to take risks then you should definitely look onto the diversifying strategy and it would be great with some popular narratives.

[MFahad]

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.

That was a horrible mistake you did. leaving BTC and going to BTCV was nothing but stupidity. Good that you accepted 30% loss and took a exit. If I were  you I would consider myself lucky for realizing my mistake when there was still time. becuase you could've lost 90% of your money in that because any altcoin that has a BTC in it's name is 100% a scam or a rugg pull.
BTW which BTCV is that you talking about? I searched CMC and there are tow cryptos with BTCV ticker. I thougtht it is a Fork of bitcoin you talking about. but looks like it is even worse. LOL

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

Thank god I don't have any experience like that. I did invest in other altcoins. but never left BTC and never invested 100% in any altcoin.

[kryptqnick]

It's actually great if the op sold after BTCV lost just 30% of the price because I see that it went way-way down pretty fast and now has virtually no trading volume and a price of something very close to zero. I've always been suspicious of BTC clones, so I didn't invest in those and often didn't even bother to claim when via airdrop when that option was available on some platforms. But in 2017, I decided to keep hodling when the price was $15k+, mainly because I thought it would continue to rise and because I didn't want to spend a lot on transaction fees. But then the bear market lasted for so long that I ended up selling by coins, just at a much lower price. Sometimes selling at a good price is the right thing to do if you know you'll need to sell at some point in the near future anyway.

[Zanab247]

You are making me remember of my friend that has the same reason for disposing and selling his bitcoin. The reason doesn't make sense. He has got bored as well and that led him to sell.

I think that was on 2018 and bored in a way that it was a bear market and prolly he lost hope by that time. A mistake that can no longer be corrected but can still recover somehow through accumulation.

Those that always sold their BTC during the bear season always have some regre to experience because, it was not their wish to sell their BTC at the moment but they don't have choice that to sell to solve issues at the moment but such people always have way to succeed to overcome such condition to be part of those that is hodling long these days.

Likewise what is happening right now in the market that is making some to start avoiding BTC investment because, since they join the hodling they never experience bull market over two years now but if they can endure before the end of this year 2024, it will help them to share a good story about their hodling.

[Dunamisx]

In everything, we should learn to first make research before starting, many people have made the mistakes of leaping in before looking, to get out of it becomes a different task entirely, the moment we realized that we are doing the wrong things, that would have taken us someway too far and we cannot avoid to have the negative consequence that may follows, we should seek to learn more than doing more.

[AakZaki]

I guess I could admit that I made some mistakes with my Bitcoins. These mistakes were not fatal, but they were an expensive lesson. I was too arrogant about transferring quite a significant portion of my bitcoins into altcoins, I now regret it. But on the other hand, if we don't make mistakes, then we don't grow intellectually. It was my mistakes with Bitcoin that made me delve deeper into technical analysis and wave analysis in particular. And now I’m rather grateful to fate that this happened. Now I look at the chart quite confidently and can tell from it a lot of things that none of the analysts know and that I didn’t know before. This is a bitter experience, but an amazing step in development.

Everyone has had bitter experiences that will become learning material like what you experienced. I also made a mistake in investing by selling my bitcoin holdings just to enter the Altcoin launchpad which ultimately provided no profit. seeing how bitcoin grows quickly makes me quite regretful that I sold it. but it will indeed be a lesson, starting to carry out management and analysis to find out about the projects to invest in and of course not sacrificing bitcoin.

[The Cryptovator]

I made similar mistakes at the beginning of my crypto journey. I converted my bitcoin into a shitcoin and eventually lost everything. I was too greedy to earn from Alt. I almost lost everything there and became hopeless at that time. So I start building myself again and recover slowly. Though I can't recover through trading, I earn from my marketing services. However, I am very careful when dealing with my crypto. I don't want to repeat my mistakes by investing in altcoins.