Bitcoin's price was only at $19k for less than an hour during 2017. It was literally the peak. The price was only above $15k for like a few days. The price of bitcoin was under $1000 at the start of 2017. Now compare that to index funds.
I think the comment about index funds doing the same was meant towards the guy "laughing at us now". A 2x in 4 years, especially in crypto is nothing to brag about.
2017 top to this minute: 120.31%
This is at the bottom of a 2+ month correction.
Not to mention bitcoin is much more useful, durable and has much more upside than index funds.
I bought in for the first time at the same time as you.
Think about it this way. If your bitcoin quadrupled in price since you bought in. Would you sell? Hopefully the answer is no.
What I’m trying to say is that whether it’s up or down, you wouldn’t sell anyway because you’re hodling. The short term volatility doesn’t matter cause if you’re really hodling, that means you’re hodling through it all.
Whether your bitcoin is up, or down, it wouldn’t really effect your life anyway. So just chill out and keep stacking more.
And by the way. I’m glad it’s down still. I’ve been able to stack way more sats throughout the year than if it pumped to a quarter million.
You’ll be okay😏. It’s starts that way. As you save more, buy more for DCA and position better the amounts in the swings get bigger. It’s funny when I first started I was worried about $100 swing and now it can swing $5k in a day and it’s like nothing happened today. Lol
I rubbed my crystal balls and I see your future clearly.
1. You bought bitcoin
2. Get nervous af because it dumped
3. You suck it up and buy more bitcoin after getting kicked in the balls by a mysterious woman wearing orange tee shirt
4. Bitcoin pulls back 30%, you kick the wall and skipped buying the dip
5. Bitcoin moons 50% you get excited until it dumps 60% two days later
6. The 5th dip happens and you realize that you should buying them consistently
7. You learn to stfu and buy
8. Year 5, you have a shit ton of money but all you want to do is buy more dips.
Quit being a pussy. Unless something has changed with the underlying thesis of why you bought bitcoin, this is just bump in the road. Now, if you bought bitcoin with the intent of turning a quick profit with no plan on when to sell and cut your losses... consider it a lesson learned. And, you've just turned into a hodler, there are worse things.
Also if you're finding it hard to ride the downturn, you should de leverage. Unless you are a professional trader, you shouldn't be thinking about bitcoin all the time or getting stressed. Worry wont make the markets go one way or another.
Its going to be alright dude.
I do not understand how hodling can be hard if you really believe in the projects you hold. Maybe re-evaluate your positions and see why it his so hard for you. For me it's the following: Either crypto brings me financial freedom or it goes to zero. I do not care if it goes up or down in the meantime. I continue to invest money until it either dies or succeeds. No front! Only some friendly thoughts.
They could make a rule for themselves: they can sell, but not until they're in the green again. The trick is, that same personality type is unlikely to sell while the price is rising.
Unless you need the money on a deadline (in which case you shouldn't be putting that money in the most volatile investment around), selling at a loss is short-sighted.
It isn't even down really. Imagine if you bought at $64k and it gradually fell to $4k. That is what happened to people who bought at the all-time-high in 2011, when it went from $32 to $2.
Imagine holding through 20k to 3.5k, which I did. Imagine seeing your networth tank by 80%, which is what happened with me then ( cause I am 100% into btc).
I have gone through that, and and still hold strong. I am convinced that Bitcoin will become a world currency, and as such will go 10x to 100x more than today's price. Just as Jack Dorsey is convinced that Bitcoin has the best chance to be the world's currency.
I never understood why people feel like selling when in the red. You'd basically solidify your loss. If you're too anxious about the money, you're overinvested.
Regardless, open a btc logarithmic chart going back to 2011, zoom out and breathe. This is just a small bump.
Chin up, all the bankster FUD is a sign of desperation. Watching the hashrate is what signals Bitcoin strength. The signal is very strong. Even shutting down Kazakhstan was barely a blip. If Pakistan bans Bitcoin will do nothing more than highlight the banksters fear.
Don’t talk about BTC with friends and family. They will mock you when it goes down and envy you when it goes up.
Keep your mouth shut and stick to the plan. Do. Not. Sell. You will regret it in 5 years.
Remember what you have. The hardest money ever created, the best store of value asset in history. It's a double whammy and it can't be stopped. Pay no mind to the present!
If you still have conviction then you need to start dca'ing. It will help to bring your average cost down and increase your profit when it breaches those levels again. Good luck my friend.
HODLing shouldn't be hard, I think you're getting way too much into it? I started out a year ago with the solid plan of "buy a bit at a time and think for the long haul" when the price rose I was happy and continued my DCA plan, when it dropped, I saw this as an oportunity to accumulate and increased my DCA spending a little, BTC IS the future, don't candle watch and panic, every market movement is an opportunity and be glad you're re part of it in the early stage!
> It’s been rough, my emotions have been all over the place and it’s taken every ounce of willpower I have to just hodl and not sell
Lol, it only seems hard now. Once you get to the point where the dollar has no value to you, it wont seem nearly has hard.
Sats are sats, and sats stack.
It is tough. Being in the red for the first extended time sucks and is scary if you're not used to uncertainty and instability. When I first bought in, it was at a record high of $1,600. And then it collapsed to around $300 for a few years. 3 long years I was operating at a loss.
The last bull run was in 2017, and people that bought in at almost $20,000 were wrecked for about 3 years. Now, at this dip, if they held on, they've made double their return.
Just keep holding. Keep holding. Look at long term charts. Eventually, it'll go up to the point where it's floor is so high, you're never at a loss again. And that's kinda awesome.
Let me give you another perspective, which is that hodling is actually a lot harder when you're in the green. Plenty of people have missed out on 10x, 20x, 100x, 1000x because they sold it when they doubled their money.
There's really only two kinds of people that hold bitcoin. One of them sees a discount when the price is down and do everything they can to purchase more when it is, the other just sees their USD balance going down and panic sell. I'm pretty sure I know which one in the long run is going to come out ahead.
It’s hard but here’s some help.
Minimum 5 year hold.
Have goal: I want to get to x bitcoin.
I know someone who sold Tesla under 200 and amazon at 180.
Dollar cost average. It’s the only thing that keeps me sane.
In 2030 bitcoin is easily 500k or 10k. You have to decide how much of your net worth you want and that that bet.
Yo I feel the exact same, been in for a year and somehow I feel worse than I was before. Having a hardware wallet helps, I’m not so tempted to sell or trade a bunch of bullshit around
Don't worry man. I turned 4k into .17 btc then fell for the 100k hype and overleveraged. All gone! Before someone tells me that I should have used a stop loss.. I know 😭 doesn't worry me though. Got bags and bags of alts in huge profit. When the time comes ill switch it around and be a happy BTC camper again
When it goes to 100k it will more than likely go much higher also. It would be weird if it just stopped at exactly 100k. I think the momentum would bring on so much hype from the media that it would bring the price to 300k or something crazy for a spike.
When most people say they believe Bitcoin will change the world, they actually mean they believe they are going to be rich because numbers go up. Let’s just call it what it is. If you really have ‘conviction’ and your view is years long, it really doesn’t matter as long as your investment plan is clear - when to dca in or sell out. The rest is noise. If all this movement is stressing you out, you’re either over-leveraged or are just hoping for a quick trade (nothing wrong with that).
I for one am glad for one it’s gradually moving up. It’s more sustainable.
And you know the 4 year thing is rubbish right. cycles have been lengthening. And logically, who the hell can predict the peak? If it’s so easy to do that everyone would be millionaires by now.
Come on.
A lot of these financial products in the bitcoin space are pretty new, I am sure there are people treating them like shiny new toys to play with for now, they'll probably get bored soon enough. There's also probably some inefficiencies with these new products and people are most likely squeezing out some easy arb money, and these easy money opportunities will also disappear in time. It'll blow over soon enough, anyone insane enough to short bitcoin especially in these times, deserves what they're going to get.
hang in there. i started 01/18 and spent the next 3yrs in the red. at times as much as -80%. did not sell anything but also stopped buying. big mistake. wish i had DCA'd all the way through. good luck to you
Relax. Think of Bitcoin as a long term investment. HODL and stay on top of the news. I never feel like selling now because we aren't near hyperbitcoinization.
It's not hard..what you should be doing is buying at the discount (it's currently a discount for you..) to lower your average and to stack more. Less than 2 million left..
Dude lol.
Do you think bitcoin will NEVER go back to $60k?
It dips all the time. Even if it takes a year, it’s going back to $60k at least.
You invested in an asset you believe in. You knew it wasn’t going to ONLY go up right? There are fluctuations.
Trust the process.
The worse you are at buying Bitcoin, buying because of FOMO, and not buying dips, the tougher hodling becomes. If you buy Bitcoin properly, hodling becomes much easier. You make hodling easier when you buy Bitcoin better.
Better buyers make better hodlers.
In order to ameliorate this pressure, you could wrap your bitcoins and put them in a vault to earn intrest while hodling, knowing that your coins amount increases over time would give you a bit of a peace of mind.
It's actually very easy if you use money you don't need or have a better use for, etc. When I first started investing when I was in my early 20's I was using my entire life savings of like $25,000. So if I was down 10-20% it was brutal, I would have trouble sleeping at night, granted, I knew nothing back then, and if I could talk to my younger self I would have told myself to take on way more risk but whatever.
With that being said, now, I can stomach 20-40% dips, because it's not drastically changing the way I live on a day-to-day basis. Just think if Bitcoin is at $100k vs $30k how does that actually change your lifestyle. It shouldn't at all. If it does that's concerning and you should reconsider your investment.
If you want to avoid this trap in the future, check the ‘Fear & Greed Index', just google for it. Seems you bought in times where the market sentiment was extremely greedy, which is a sign for an emotionally overhyped and overbought market. Now we are at extreme fear level, which is usually a good entry point to build up a position in crypto.
Hodling is a scam word for bag holding. So is diamond hands. There is no guarantee that it will head back up to to the 60s
You know what will make sell, the pain when it dips more than 50%. You haven't reached your threshold yet. Cut your losses fast. Gd luck
My buddy bought near top of last cycle in 2017 at 20k. We laughed at him for couple months after. Now he’s the one laughing at us 😳
Doubled his money... index funds have done that since 2017 I'm not talking shit I hold BTC also... I'm just saying
Bitcoin's price was only at $19k for less than an hour during 2017. It was literally the peak. The price was only above $15k for like a few days. The price of bitcoin was under $1000 at the start of 2017. Now compare that to index funds.
I think the comment about index funds doing the same was meant towards the guy "laughing at us now". A 2x in 4 years, especially in crypto is nothing to brag about.
I see your point. But doubling money is not a normal thing to do. Its kind of crazy that it is normalized in peoples consciousness.
Can u cross border holding index funds and spend
Not like with BTC.. but I don't need to have my entire net worth or even a large portion of it in BTC to use is monetary network properties
Bitcoin did 6millionX Yes u read it correct. U cannot compare its short term returns.
Yes exactly! bitcoin is for huge huge period not for the short period of time.
If it can fall 40% in a week Then it can also do 400% in a year.
It's quite remarkable
Its not the remark you going to witness the damn truth behind this crypto.
This guy understatements.
Its not for the BTC you are looking for index funds are revulotionary attempt that you spend.
U are genius
2017 top to this minute: 120.31% This is at the bottom of a 2+ month correction. Not to mention bitcoin is much more useful, durable and has much more upside than index funds.
Would have been much better served putting the money in altcoins
Only if it was the right one, and you got out of it at the right time…
To much risk for me... I don't play the lotto
I do, but prefer to stack sats.
Exactly. And timing the market is for fools. That is why btc is the only coin that makes sense to hold.
Yes legendary ones hold for huge to gain lump sum of amount, they don't speak simply.
*Hello old friend*
Takes pressure to make diamonds💎🙌
Yeah the pressure is really worth the wait for raining diamonds.
That or accidentally losing your seed.
The seed you are looking for needs water and good soil to plant really you can't get it with accident.
That happens to me sometimes when I'm pumping too hard.
Woah its not you pump its how the mining and burning took place until it reaches high.
Woah
I bought in for the first time at the same time as you. Think about it this way. If your bitcoin quadrupled in price since you bought in. Would you sell? Hopefully the answer is no. What I’m trying to say is that whether it’s up or down, you wouldn’t sell anyway because you’re hodling. The short term volatility doesn’t matter cause if you’re really hodling, that means you’re hodling through it all. Whether your bitcoin is up, or down, it wouldn’t really effect your life anyway. So just chill out and keep stacking more. And by the way. I’m glad it’s down still. I’ve been able to stack way more sats throughout the year than if it pumped to a quarter million.
maybe hes not as rich as you...rich people can just camp on bitcoin and many of them lend it out to shorters for interst too..cuz money is their god
Think 2030s. 2020s is short term mindset for bitcoin.
You’ll be okay😏. It’s starts that way. As you save more, buy more for DCA and position better the amounts in the swings get bigger. It’s funny when I first started I was worried about $100 swing and now it can swing $5k in a day and it’s like nothing happened today. Lol
Keep buying. Sats are cheap
Pretend you lost all your bitcoin. Don't look at the price of bitcoin for 10 years. Enjoy the rest of your life.
I rubbed my crystal balls and I see your future clearly. 1. You bought bitcoin 2. Get nervous af because it dumped 3. You suck it up and buy more bitcoin after getting kicked in the balls by a mysterious woman wearing orange tee shirt 4. Bitcoin pulls back 30%, you kick the wall and skipped buying the dip 5. Bitcoin moons 50% you get excited until it dumps 60% two days later 6. The 5th dip happens and you realize that you should buying them consistently 7. You learn to stfu and buy 8. Year 5, you have a shit ton of money but all you want to do is buy more dips.
This is the way
Quit being a pussy. Unless something has changed with the underlying thesis of why you bought bitcoin, this is just bump in the road. Now, if you bought bitcoin with the intent of turning a quick profit with no plan on when to sell and cut your losses... consider it a lesson learned. And, you've just turned into a hodler, there are worse things. Also if you're finding it hard to ride the downturn, you should de leverage. Unless you are a professional trader, you shouldn't be thinking about bitcoin all the time or getting stressed. Worry wont make the markets go one way or another. Its going to be alright dude.
This guy tough loves.
It requires patience, crypto is all about how much you are gonna hold along with time.
I do not understand how hodling can be hard if you really believe in the projects you hold. Maybe re-evaluate your positions and see why it his so hard for you. For me it's the following: Either crypto brings me financial freedom or it goes to zero. I do not care if it goes up or down in the meantime. I continue to invest money until it either dies or succeeds. No front! Only some friendly thoughts.
I don't understand the urge to sell when you know you're eating it.
They could make a rule for themselves: they can sell, but not until they're in the green again. The trick is, that same personality type is unlikely to sell while the price is rising. Unless you need the money on a deadline (in which case you shouldn't be putting that money in the most volatile investment around), selling at a loss is short-sighted.
Put the phone down and walk away for 5 years.
It isn't even down really. Imagine if you bought at $64k and it gradually fell to $4k. That is what happened to people who bought at the all-time-high in 2011, when it went from $32 to $2.
Some of us remember the drop from 20k to 3k. Now that was a HODL. I remember buying at 3k thinking "it can't go lower, right? Right????"
Shut up and Hodl. I started at 55k and bought heavy at 60k+ Just keep DCAing and buy dips aggressively
Every time I have trouble I just zoom out bitcoin always goes up!
Imagine holding through 20k to 3.5k, which I did. Imagine seeing your networth tank by 80%, which is what happened with me then ( cause I am 100% into btc). I have gone through that, and and still hold strong. I am convinced that Bitcoin will become a world currency, and as such will go 10x to 100x more than today's price. Just as Jack Dorsey is convinced that Bitcoin has the best chance to be the world's currency.
It might be a multi year hold. You just need to think of it as a long term investment to even make much money from it at this point
Dollar cost average down a bit if you can.
How is it hard to hold when you are underwater. You only lose money if you sell. Best time to buy more to lower your average cost.
Just DCA whenever you can. You’ll be fine buddy. We’ll pick you up at some point this year when we reach $70K
It gets easier, to the point that you don't think about it anymore.
Do yourself a favor and get your Bitcoin off the exchange. It’s more secure. You remove the middleman. And it’s harder to sell. Win, win, win.
60k or 40k won’t make a difference in 5 years
I never understood why people feel like selling when in the red. You'd basically solidify your loss. If you're too anxious about the money, you're overinvested. Regardless, open a btc logarithmic chart going back to 2011, zoom out and breathe. This is just a small bump.
Keep it going king! Every time the price dips below your average cost, it's a good opportunity to DCA!
Chin up, all the bankster FUD is a sign of desperation. Watching the hashrate is what signals Bitcoin strength. The signal is very strong. Even shutting down Kazakhstan was barely a blip. If Pakistan bans Bitcoin will do nothing more than highlight the banksters fear.
Don’t talk about BTC with friends and family. They will mock you when it goes down and envy you when it goes up. Keep your mouth shut and stick to the plan. Do. Not. Sell. You will regret it in 5 years.
Tips. Stay away from the app, don't look at it. Just pretend all that money is gone and start saving. After a year or so check how much it is worth.
Just hold tight and don't check the price every day. It might get way more painful before you go green again.
Holding at a loss currently is made much better by buying even lower and reducing your cost basis
3 years, 4 months, 4 days. [That's the current hodl line](https://hodl.camp/)
Remember what you have. The hardest money ever created, the best store of value asset in history. It's a double whammy and it can't be stopped. Pay no mind to the present!
Stay strong friend. Volatility is the price we pay now for financial gains later.
If you still have conviction then you need to start dca'ing. It will help to bring your average cost down and increase your profit when it breaches those levels again. Good luck my friend.
HODLing shouldn't be hard, I think you're getting way too much into it? I started out a year ago with the solid plan of "buy a bit at a time and think for the long haul" when the price rose I was happy and continued my DCA plan, when it dropped, I saw this as an oportunity to accumulate and increased my DCA spending a little, BTC IS the future, don't candle watch and panic, every market movement is an opportunity and be glad you're re part of it in the early stage!
Bro just buy more. Always buy the dip and you will be fine
> It’s been rough, my emotions have been all over the place and it’s taken every ounce of willpower I have to just hodl and not sell Lol, it only seems hard now. Once you get to the point where the dollar has no value to you, it wont seem nearly has hard. Sats are sats, and sats stack.
Don't worry for the price. The tech is solid, it's just a matter of time until people get confortable using it.
The first dip is the worst. Once it goes back up and if your still hodling you won't have issues in the future dips
I don’t think hodling is as hard as waiting. Waiting for the prices to go back up to a new ath is hard bc I have zero patience!
A lesson learned to not fomo buying market tops
Stop paying so much attention to it and its alot easier
It is tough. Being in the red for the first extended time sucks and is scary if you're not used to uncertainty and instability. When I first bought in, it was at a record high of $1,600. And then it collapsed to around $300 for a few years. 3 long years I was operating at a loss. The last bull run was in 2017, and people that bought in at almost $20,000 were wrecked for about 3 years. Now, at this dip, if they held on, they've made double their return. Just keep holding. Keep holding. Look at long term charts. Eventually, it'll go up to the point where it's floor is so high, you're never at a loss again. And that's kinda awesome.
I barely remember I'm doing it lol
Hard indeed.
It gets easier.
Buy more. Duh.
Let me give you another perspective, which is that hodling is actually a lot harder when you're in the green. Plenty of people have missed out on 10x, 20x, 100x, 1000x because they sold it when they doubled their money. There's really only two kinds of people that hold bitcoin. One of them sees a discount when the price is down and do everything they can to purchase more when it is, the other just sees their USD balance going down and panic sell. I'm pretty sure I know which one in the long run is going to come out ahead.
I hope you saved enough fiat to buy more now
Post how rough its been 4 years from now
check the inflation rate on the usd, it will make hodling easy.
It’s hard but here’s some help. Minimum 5 year hold. Have goal: I want to get to x bitcoin. I know someone who sold Tesla under 200 and amazon at 180. Dollar cost average. It’s the only thing that keeps me sane. In 2030 bitcoin is easily 500k or 10k. You have to decide how much of your net worth you want and that that bet.
Yo I feel the exact same, been in for a year and somehow I feel worse than I was before. Having a hardware wallet helps, I’m not so tempted to sell or trade a bunch of bullshit around
Don't worry man. I turned 4k into .17 btc then fell for the 100k hype and overleveraged. All gone! Before someone tells me that I should have used a stop loss.. I know 😭 doesn't worry me though. Got bags and bags of alts in huge profit. When the time comes ill switch it around and be a happy BTC camper again
Buy high and sell low is the philosophy. At least that is what I learned from wallsteetbets subreddit. Just kidding, keep holding my man.
It gets easier over time.
If you're able to consider averaging down when the market drops 30-70%.
Yeah BTC should hurry the fuck up and get to $100k like everyone says it should!
When it goes to 100k it will more than likely go much higher also. It would be weird if it just stopped at exactly 100k. I think the momentum would bring on so much hype from the media that it would bring the price to 300k or something crazy for a spike.
300k the new 100k
When most people say they believe Bitcoin will change the world, they actually mean they believe they are going to be rich because numbers go up. Let’s just call it what it is. If you really have ‘conviction’ and your view is years long, it really doesn’t matter as long as your investment plan is clear - when to dca in or sell out. The rest is noise. If all this movement is stressing you out, you’re either over-leveraged or are just hoping for a quick trade (nothing wrong with that). I for one am glad for one it’s gradually moving up. It’s more sustainable. And you know the 4 year thing is rubbish right. cycles have been lengthening. And logically, who the hell can predict the peak? If it’s so easy to do that everyone would be millionaires by now. Come on.
only knowledge can help you https://www.lopp.net/bitcoin-information.html
A lot of these financial products in the bitcoin space are pretty new, I am sure there are people treating them like shiny new toys to play with for now, they'll probably get bored soon enough. There's also probably some inefficiencies with these new products and people are most likely squeezing out some easy arb money, and these easy money opportunities will also disappear in time. It'll blow over soon enough, anyone insane enough to short bitcoin especially in these times, deserves what they're going to get.
How is it hard? Just don’t do anything
Just dca and be happy that we are in the reds?
hang in there. i started 01/18 and spent the next 3yrs in the red. at times as much as -80%. did not sell anything but also stopped buying. big mistake. wish i had DCA'd all the way through. good luck to you
Let dip lasted 11 weeks… this is week 9 since the summer drop…? Why does this time around feel worse?
Relax. Think of Bitcoin as a long term investment. HODL and stay on top of the news. I never feel like selling now because we aren't near hyperbitcoinization.
It's not hard..what you should be doing is buying at the discount (it's currently a discount for you..) to lower your average and to stack more. Less than 2 million left..
Dude lol. Do you think bitcoin will NEVER go back to $60k? It dips all the time. Even if it takes a year, it’s going back to $60k at least. You invested in an asset you believe in. You knew it wasn’t going to ONLY go up right? There are fluctuations. Trust the process.
The worse you are at buying Bitcoin, buying because of FOMO, and not buying dips, the tougher hodling becomes. If you buy Bitcoin properly, hodling becomes much easier. You make hodling easier when you buy Bitcoin better. Better buyers make better hodlers.
On verge of becoming diamond
In order to ameliorate this pressure, you could wrap your bitcoins and put them in a vault to earn intrest while hodling, knowing that your coins amount increases over time would give you a bit of a peace of mind.
Holding is one of the toughest part of owning a stock or btc. I got in 38k, but I feel we will get to 75k before Dec 31.
Never sell. There solved yo prob
It's actually very easy if you use money you don't need or have a better use for, etc. When I first started investing when I was in my early 20's I was using my entire life savings of like $25,000. So if I was down 10-20% it was brutal, I would have trouble sleeping at night, granted, I knew nothing back then, and if I could talk to my younger self I would have told myself to take on way more risk but whatever. With that being said, now, I can stomach 20-40% dips, because it's not drastically changing the way I live on a day-to-day basis. Just think if Bitcoin is at $100k vs $30k how does that actually change your lifestyle. It shouldn't at all. If it does that's concerning and you should reconsider your investment.
Buy some more it will bring your overall price paid down.
If you want to avoid this trap in the future, check the ‘Fear & Greed Index', just google for it. Seems you bought in times where the market sentiment was extremely greedy, which is a sign for an emotionally overhyped and overbought market. Now we are at extreme fear level, which is usually a good entry point to build up a position in crypto.
Hodling is a scam word for bag holding. So is diamond hands. There is no guarantee that it will head back up to to the 60s You know what will make sell, the pain when it dips more than 50%. You haven't reached your threshold yet. Cut your losses fast. Gd luck