what should I do, I invested a lot

[Rampion]

hi, I invested a lot at the beginning of this year thinking bitcoin would have risen again as usual, I bought many btc when it was 830 and some after when it was 660. I waited for the pump but things are getting bad. I am wo4ried. I am 26 yo I am not rich and I invested a lot of my savings. I can live without, ok, but they were my savings. What should I do now? is this the end? Will bitcoin rise again at least until 830?

Ask yourself:

1) Why did I buy bitcoin
2) Did I invest only what I can afford to lose?

If the answer to 1) is "to make money quickly" then you understood nothing about Bitcoin. Bitcoin is not a get-rich-quick scheme, it is a disruptive technology in its early phase, and thus it is very risky and extremely volatile.

If the answer to 2) is "no" then you made a big mistake because of the above. Being Bitcoin extremely volatile and risky you will get emotional and thus you will make mistakes.

Furthermore, you seem to have made a poor analysis of Bitcoin past performance. You say "I thought bitcoin would have risen again as usual", omitting that Bitcoin lost 94% of its value in the Summer of 2011 (from $32 to $1.98) and 80% of its value in the Summer of 2013 (from $266 to $50). Just by giving a quick look to the historic Bitcoin price chart you should have asked yourself: "am I ready to see my investment losing 60%, 80% or even 90% of its fiat value without worrying, as this kind of price depression has usually happened to Bitcoin after sharp increases in value"?

Looking at the bright side, post like yours show quite clearly that we are close to the very bottom.

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[nextblast]

hi, I invested a lot at the beginning of this year thinking bitcoin would have risen again as usual, I bought many btc when it was 830 and some after when it was 660. I waited for the pump but things are getting bad. I am wo4ried. I am 26 yo I am not rich and I invested a lot of my savings. I can live without, ok, but they were my savings. What should I do now? is this the end? Will bitcoin rise again at least until 830?

DO NOT SALE NOW.
Consider it a 5-year investment, and you should check the price when it is due several years later. The last drop is nothing but a little wave.

[Junkbarman]

You should buy more. Unless you think it's going to $200?

[ravenjt]

I am surprised that not a single person here has given the standard advice of a financial advisor.

For the avoidance of doubt, the standard advice is to diversify your portfolio. That advice stands irrespective of whatever may have happened in the past to your investments. Just because they have gone down, does not mean you should not diversify.

Therefore the standard advice would be to sell a large proportion of your Bitcoin and to invest in other asset classes, in order to have a diversified portfolio.

That advice does not rely on a prediction of what the Bitcoin price will be in the future. It relies simply on the fact that YOU do not know what the Bitcoin price will be in the future (neither do I).

[Junkbarman]

I am surprised that not a single person here has given the standard advice of a financial advisor.

For the avoidance of doubt, the standard advice is to diversify your portfolio. That advice stands irrespective of whatever may have happened in the past to your investments. Just because they have gone down, does not mean you should not diversify.

Therefore the standard advice would be to sell a large proportion of your Bitcoin and to invest in other asset classes, in order to have a diversified portfolio.

That advice does not rely on a prediction of what the Bitcoin price will be in the future. It relies simply on the fact that YOU do not know what the Bitcoin price will be in the future (neither do I).

So when the price goes back up, they get them to buy back in because things are looking good for Bitcoin again? Genius. 

[ravenjt]

So when the price goes back up, they get them to buy back in because things are looking good for Bitcoin again? Genius. 

Nope, because that would not be standard investment advice. It would break the portfolio diversification rule.
Do you remember your granny telling you "Don't put all of your eggs in the same basket"?
That stands whether your investments have gone up, down or sideways.

[MoonTime]

Investers should have patience or they end up loosing everything.

Calm down and wait for prices to hike.

[twiifm]

I am surprised that not a single person here has given the standard advice of a financial advisor.

For the avoidance of doubt, the standard advice is to diversify your portfolio. That advice stands irrespective of whatever may have happened in the past to your investments. Just because they have gone down, does not mean you should not diversify.

Therefore the standard advice would be to sell a large proportion of your Bitcoin and to invest in other asset classes, in order to have a diversified portfolio.

That advice does not rely on a prediction of what the Bitcoin price will be in the future. It relies simply on the fact that YOU do not know what the Bitcoin price will be in the future (neither do I).

I agree.  I think he should take this opp at 470 to reduce position by half.  Use the funds to diversify

[Junkbarman]

So when the price goes back up, they get them to buy back in because things are looking good for Bitcoin again? Genius.  

Nope, because that would not be standard investment advice. It would break the portfolio diversification rule.
Do you remember your granny telling you "Don't put all of your eggs in the same basket"?
That stands whether your investments have gone up, down or sideways.

Grandma always said "Math my boy, that's where the moneys at". Never once did she say the things you're saying.

She wouldn't believe it for a second, and probably would call you out on your terrible advice and bad portrayal of a financial advisor. Telling your clients to sell after they've had loses? Interesting theory, but terrible advice.

Because if you really had a mind, you'd tell them to buy more. It's simple math really.

You bought at 8, its now at 5. So when it goes back to 650,you've cut you losses in half. But lets try your way. buy at 8, sell at 5. buy something else at 8 and sell at 5...hmm. Doesn't seem quite right.

But I guess you need people like that to keep doing what you're doing.

[Spaceman_Spiff]

I am surprised that not a single person here has given the standard advice of a financial advisor.
For the avoidance of doubt, the standard advice is to diversify your portfolio.

Diversification merely decreases variance, but does not change expected return.  
Whether this is wise depends on how bad it would be to lose a lot of your money (which depends on stuff like how old you are, if you have kids, a stable job etc.).
Sometimes it's better not to have too many eggs in your basket so you can watch the eggs that you have closely enough (or avoid having to spend a disproportionate amount of time in a $100 "investment").

For sure it is a good default advice to follow, but it shouldn't always be the rule.

[Fearless]

600 was the average in previous months. Do not worry, it will climb as BTC is expanding, but no one can tell how soon.

[Dafar]

I am surprised that not a single person here has given the standard advice of a financial advisor.

For the avoidance of doubt, the standard advice is to diversify your portfolio. That advice stands irrespective of whatever may have happened in the past to your investments. Just because they have gone down, does not mean you should not diversify.

Kid is upset about investing 80% of his money for college... so we should advise him to invest his remaining 20% in something else? Yeah ok.

[fred1111]

1) Go to https://bitcoinwisdom.com/markets/bitstamp/btcusd
2) Click on the "1w" button
3) Have a cup of tea.

[Bitwayup85]

860$ is very high buying price, you will have to wait for months to reach that.

There are good chances it will rise so don't worry.

[datehunter]

Now we are close to the bottom so you should invest all of your remainings in btc and wait.

[Soccruo]

Why don't you make a cloud mine service yourself, it can be a profitable investment.

[the joint]

So when the price goes back up, they get them to buy back in because things are looking good for Bitcoin again? Genius.  

Nope, because that would not be standard investment advice. It would break the portfolio diversification rule.
Do you remember your granny telling you "Don't put all of your eggs in the same basket"?
That stands whether your investments have gone up, down or sideways.

Grandma always said "Math my boy, that's where the moneys at". Never once did she say the things you're saying.

She wouldn't believe it for a second, and probably would call you out on your terrible advice and bad portrayal of a financial advisor. Telling your clients to sell after they've had loses? Interesting theory, but terrible advice.

Because if you really had a mind, you'd tell them to buy more. It's simple math really.

You bought at 8, its now at 5. So when it goes back to 650,you've cut you losses in half. But lets try your way. buy at 8, sell at 5. buy something else at 8 and sell at 5...hmm. Doesn't seem quite right.

But I guess you need people like that to keep doing what you're doing.

I'm confused.  How does "simple" math in any way indicate that you should buy more after falling from $800 to $500?  There's nothing about math that will tell you what the price will be in the future.  When you say things like "when it goes back to $650..." you're making the assumption that it's guaranteed to go up.  It's not.

Whether we're talking BTC or some other investment, cutting your losses can save you from losing everything.  It sounds that, based on what I just read, there is no good time to ever sell.  If the prices goes up, buy or just hold, and if the price drops buy more!

Under what circumstance would you, as a hypothetical financial advisor, advise someone to sell their investment?

[MichaelBliss]

Bitcoin isn't a standard investment.  It's a comm. tech. and it's a lot more like placing a bet that MP3s will take over the world, back in the 90s when nobody who was cool anyway had ever heard of MP3s because they had their cool Discmans.  

The potential far outweighs the risk IMO , beware of the opinionated "people" with a handful of posts.   They are often sock puppets who are trying to manipulate you in one way or another.

Keep looking at the fundamentals!  Has the network been hacked or something?  Are merchants abandoning it?  If all you care about is the price in the short term, your going to be disappointed since all of us knew from day 1 that it'll be a bumpy ride.

[GogglesPisano]

hi, I invested a lot at the beginning of this year thinking bitcoin would have risen again as usual, I bought many btc when it was 830 and some after when it was 660. I waited for the pump but things are getting bad. I am wo4ried. I am 26 yo I am not rich and I invested a lot of my savings. I can live without, ok, but they were my savings. What should I do now? is this the end? Will bitcoin rise again at least until 830?

Just hold, by the end of the year it will be an entirely different scenario. Don't get stressed watching the price everyday, it will only make matters worse. Just have faith in yourself that you made a good investment and be patient. How does that saying go, first you must be right (as you are) but then you must sit tight, and that's the hard part.

[cr1776]

Read this thread, perhaps you'll feel better about people panicking:

https://bitcointalk.org/index.php?topic=58634.0