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Please Advise

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Thread replies: 55
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I bought in about 5 bitcoins at about $1000 average, and I'm starting to panic a little bit...

Should I dump my coins or "dollar cost average" my investment?
>>
Dump-seriously
>>
DCA works... if you're willing to wait several years to recover your principal. HAHAHA!
>>
Better off using your coins to short on maybe 3-10x leverage if you believe it will keep falling. I'm long now though.
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>>1724287
Step 1: Maybe don't rely on advice from /biz/ since that's probably what got you into trouble in the first place?

Step 2: Figure out your pain threshold. How much do 5 grand mean to you? Is a ~1k loss preferable to investing more money and waiting months or years?

Nobody knows the future, but you should figure out scenarios for yourself. Where would be the threshold that would make you stick to your investment? Then try to gauge how likely this outcome is.

It's not rational, but there's always the psychological aspect. If the current situations makes you "panic a little bit" - maybe you're not cut out for these kinds of highly volatile investments? It you can't handle it, it may be prudent to cut your losses regardless of the money. Hard to put a price on sleepless nights and stress.

Step 3: Make a decision. Never second guess it. Evaluate your decisions from the information you had at the time, not the information you got afterwards. If you've seriously considered your options and arrived at a decision with conviction, nothing the chart will do afterwards will invalidate this decision. Don't bet on good or bad luck in the future, bet on sound decision making given current information.
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>>1724287
>>1724352
>maybe you're not cut out for these kinds of highly volatile investments
Buying btc in hopes of profiting is speculating. Not investing. Bitcoin is meant to be a currency. It is not meant to be an investment.
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>>1724365
More a question of semantics, but I approve of the idea behind your distinction. BTC is definitely a commodity and not a currency, I see it more as really shitty immature digital gold - hence why I used the term "investment".
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>>1724287

Just hold, stop looking at the price, come back in a few months, check your balance, profit, keep holding forever, eventually the world will be forced to adopt Bitcoin.
>>
Your first problem is that you are speculating in a security that you don't understand the fundamentals of.

My advice would be to sell. You're going to learn a lesson here: invest in what you know and understand. "Paying" $500 to learn that lesson is painful but worthwhile.
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>>1724287

Whoops. I thought the price was closer to $900. Didn't realize it had fallen further. In any case, this is still a lesson that you need to learn.
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>>1724287
double down
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>>1724379
>>
>>1724287
you shouldn´t have bought on top of that unhealthy rise in first place.

in my opinion and under neutral circumstances btc found it´s ground now (may drop to 750) and will climb up to 1000 usd again. it may take a few months though

the news from china are overrated
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>>1724413
this is what i will do too
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>>1724413
>Trust me
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>>1724287
> bought in about 5 bitcoins at about $1000 average
rofl
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>>1724334
3x is enough it will fall to $700 or a bit under
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>>1724287
Go long, it always bounces back, just look at the history. Because if you needed the money now you wouldn't have put 5k into BTC, right?
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>>1724287
dca at 700 and again at 500 and again at 450 dca at 300 then dca at 275, 260 DCA AGAIN at 175 annnnnnd you should be good
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Save it. Wait a couple of months and sell when it rebounds.
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>>1724287
Get out.

You would have been safer in gold and silver.
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>>1725861

i like this logic lmao
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> he believed the /biz/ memes

> He didn't see the obvious correction coming from a mile away

Honestly pal, I'd be tempted to hold on to them. I see BTC going way higher than 1k in the long term, but I could be totally wrong.
>>
>>1724352
This

>>1724287
Can you hold it? If so, wait a full year or two. Bitcoins is here to stay in the long term.
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AHAHAHAHAHAH
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>>1724287
convert it all to Trumpcoin, you'll thank me later when it moons
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>>1724413
t. Bitcoin holder who probably offloaded 20% of his bitcoins after the rally
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>>1726255
I cannot stress this enough. Trumpcoins will BOOM soon.
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>buys at $1,000

there's your first mistake.
B
U
Y

T
H
E

D
I
P
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>>1724287
Just make a series of shitty threads about how you're smarter than everyone else.
When people reply that you made a mistake, just tell them to cope.
Repeatedly.
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>>1726531
COPING this hard
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>there are people this fucking dumb who buy at peaks

I don't even know what to say.
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yeah just wait, it hit 1000 once, it hit 1000 twice, is bitcoin really only going to hit 1000 only 2 times in it's whole existence?

yeah I don't think so...
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Lmao ya stupid fucking coiner never gonna learn just sell those shit coins before they're worth 0
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>>1726565
Yep, just like that.
You're a natural.
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>>1725861

i did this last time around. finally unloaded at 950 avg this rally.
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>>1724287

jesus christ man sell it all tomorrow what the fuck are you doing
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>>1724386
The fundamentals of bitcoin are MUCH more sound than the fundamentals of any other stock, currency, asset, commodity, ... where your investment can get fucked over by a single high-level meeting.
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>>1726807
Muh fundamentals are fun but far from mental.

Technicals are a cover for timed and calculated pumps and dumps using HFT Bots.

Don't fall for the trick man.
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>>1726828
Fundamentals are only part of it, sure. But I was just replying to a point that poster made.

And fundamentals are very important in the long term, which is good.
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>>1724287
It's going to keep dropping, it sounds like you've invested too much into bitcoin and you will probably lose sleep over your losses. Get out now and cut your losses!
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>>1724287
>It's going parabolic, they said, it will be at 5000 by the end of the year.
>Buy at the dip, they said, don't sell untill it's $1 000 000.
>It's not a bubble, they said, buy until it goes to the moon
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>>1726834
Is this your first time seeing investments go up and down?
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>>1724287
Dump.
You're in the "fear" stage of this chart. You can see what comes next. The trend is now down and the price is not going to slingshot up. Don't buy in until you can see the trend is heading up for at least a month.
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>>1726843
No, and it was also not my first time seeing memecoiners whipping out retarded claims of buttcoin skyrocketing. It serves him right for buying so high.
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>>1726857
You seem upset.
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>>1726859
Nah I'm just having a lot of fun
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>>1726851
>You're in the "fear" stage of this chart. You can see what comes next. The trend is now down and the price is not going to slingshot up. Don't buy in until you can see the trend is heading up for at least a month.
>Let's take a loss so that we can make a profit when it returns to the rate at which I bought it at..

Just hold and see as a longer term investment. There's too much coverage and hype for it to become worthless anytime soon..And there looks to be increased political and economic turmoil over the next few years anyway.

If you're expecting a 15% return in a matter of days with an investment like this, you must've been aware of the very high risks. Just commit and hold.
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>>1726857
Yeah, haven't seen that "missed out on moon rocket nociners" pic for a few days.
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>>1726865
Does that imply you won't be having fun when bitcoin goes up again?
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>>1726882
I will, because - as a sensible man - I'll buy when it hits the low.
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just thinking what happened to bitcoin, why china doesn't want it ?
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>>1726889
At New Year the child is expected to return to see parents. So cashes in buttcoins to give parent real money .
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>>1726889
they're switching to dogecoin
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>>1724287
Convert it all into ethereum
Thread posts: 55
Thread images: 6


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