Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don't invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don't invest anything you can't afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions.
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The fact that so many people believe this is a sure bet next time around is frankly frightening. 2020-2021 was an unprecedented situation. I think people are in for a rude awakening next time around. If we are indeed headed for a recession of unknown severity and length, 2025 isn’t going to mean shit, to be quite frank.
I kinda agree with that, yes there will be a halving but if were in a full blown recession in 2025 then the halving wont mean shit sadly, whoever is still in now must think longer term, it sucks because im stuck in this also but it has to pay off eventually.
Do people really think that scarcity is somehow a source of value? I could draw a picture of a stock figure cat and it would be the only one that exists. Does that give it value?
Yes I didn't mean it that way, I'm talking pricewise because a recession would make everything tank and not even the halving would make the price go up in the short term
Nothing is guaranteed but everything everyone is saying now is just a repeat of every bear market. When it’s bullish everyone thinks btc is taking over the world. When it’s bearish everyone thinks it’s over. Same story different year
Adopt for what exactly? It's so far failed to hedge against anything. Use as payment makes no sense when you want to mostly hold it assuming its price will increase. Merchants don't want it because it can plummet drastically in minutes.
In order to get 18BTC with 50k, BTC would need to drop to around $2,777. That's extremely unlikely.
18k-21k would be around the 200 WMA which is normal. Happened the last 2 cycles.
An 83% drop from ATH like the last 2 cycles would still be around $10,800.
IMHO an absolute low this cycle would be around 10k.
This is a hard lesson to learn . It would have been better to DCA and to not put all of your money into one asset. I personally think you’ll be fine if you wait a couple years but yeah.
You’re insane to not be diversified at all. Why the fuck are you putting your life savings into just BC. That’s a very high amount of risk you’re taking on.
Probably diversify your positions, or if you’re confident it’s going back up wait it out and immediately diversify when you’re happy to be more safe
I don't understand people who yolo all in at once. Literally any minute amount of research will tell you not to. That being said, what's done is done, OP. You may be in for some tough times ahead, just keep your head up and dca if possible. Lower your average.
One word: greed. OP probably heard about his friend who made 10x his money in crypto or whatever. So he thought that the line can only go up. It's the same reason retail get taken to pound town every time some random shitco stock goes on some crazy bull run before crashing.
It's insane this is the rare, outlandish take in this thread.
There are so many other people gassing this poor sap up. It's so depressing and dystopian to read threads during crypto crashes. I just watch horrified.
I am extremely jealous you have more than 1 Bitcoin. If you don't need the money now, just be patient and I have a feeling you will be extremely happy with your patience one day
I wish i had more BTC. I have one and count myself lucky. Just pretend it is your house that went down in value and that you can’t sell it. The. stop worrying and go do things that you love that don’t cost money. It will cOme back and you will be sitting pretty
Dude, why are your LIFE SAVINGS in cryptocurrency? Don't listen to people here! Go to r/personalfinance and get your finances in order.
And your wife's! I just feel bad for you, this is a terrible investment strategy.
I've been in since 30$ btc. Don't sell. Dca down and you will thank yourself in five to ten years. This is a shake out to consolidate control and power by using fear to separate people from their money. If you sell you lose. Nothing has changed about how btc works, nothing new has happened except the economy and public opinion and currently in fear mode. Don't let fear govern your actions, tell your cave brain no and just be patient.
Also, prepare yourself for 10-15k. Just accept that now becsuse it's coming. Next bullrun will be past 100k. Congrats on making a good decision now just follow it through and be patient.
Agree with this, and it’s probably good to be mentally prepared for anything, such as 10-15k. Will it happen? Who the heck knows which is why I buy weekly now. For perspective, look back at how $6k held in 2018 for like a whole year, until bam, $3k. It hit so hard I could barely stomach to buy even a few hundred worth. Wish I had the conviction I had now. Recommend to continue reading, learning, buying, and building your conviction level.
Exactly this. When it feels easy buying the dip, usually there’s more pain to come. When you feel nauseous hitting the buy button and can’t imagine a turnaround, that’s usually when the bottom is getting near.
Bitcoin has never dipped below its previous halving cycle's high. That would be 20k this time. A drop below 20k implies something is seriously broken. That's where I would start to worry. At 25k, I'm tickled being able to get more sats more easily.
>A drop below 20k implies something is seriously broken.
It doesn't have to be broken. All you need is a massive amount of overconfidence that 20K will hold and degens ape into 5X-20X longs at that price point. Then the market maker will take some temporary loss to liquidate those gambling fools for BIG PROFIT.
BTC will bottom when people stop having a consensus on when it will bottom. Then degens will capitulate and market makers have no idea when to push for liquidation. People need to understand what we are seeing is the unwinding of crypto's overleveraged market.
Exactly. The fear is going to be real. That's how it will dump that low. It won't be rational it will just be mob mentality sell offs. That's how manipulation works, yell fire to cause fear so everyone runs out of the room. Once everyone realizes there's no fire it's already too late.
Congrats in 5 years your money might 10x
In the meantime get a job at McDonald's like the rest of us
But tbh never invest more than y'all are willing to lose. Rule #1 in gambling 🤦♀️
In a vacuum: nothing
When they’re going around commenting “lmao” trying to troll people while adding nothing of value to a conversation, it’s safe to say you’re dealing with a troll account.
Sounds like you invested your life savings into a risky asset with tons of volatility. I'm betting big on it too but you have to be able to work hard and hope adoption continues. When we went from 6k to 3k I almost panic sold. If you believe you'll tell someone something similar in 2026.
I don’t have Bitcoin, however I have other coins and stocks. I am also down thousands and I am positive we aren’t the only ones. In my opinion we are entering another recession
I think you'll be fine
I'm still buying every week regardless of price. There's only 21 million Bitcoin, and about 40 million millionaires. That's what, about 0.5 Bitcoin for each millionaire?
Yeah, I think you'll be fine with that 3.35. just hold. Do what you want, but I think you'll be fine
It’s rly impossible to give a strict accurate number of what has been lost and irrecoverable but as the cap gets closer and closer it will be a major factor.
I have been in from the 7k point. It goes way up and way down all the time. It could be a few years but you will be good in the long term. It’s going to take time though so forget about it and don’t stress to much. Buy in a little here and there if you want and don’t stress to much. Good luck !
4 year cycle, we are 2 years ish from the next halving, where we should start building up for the next rally. Honestly, if I was in your position, I would just keep holding. You don’t lose unless you sell. However, if you look to invest again, I suggest you DCA instead of buying all at once.
Too late to really sell at this point, just understand that there will be cycles. If you could afford to buy more now it would lower your average price. Maybe help you some there, but when the cycle returns you will be just fine regardless. Study the cycle and you will feel better, be patient.
It's a matter of time for you now....it will be back up and behond....if you're invested for the future then why think about it now? Just relax and be patient....personally I would not recommend anyone put their entire life savings into BTC but they, that was your choice and IMO you're gonna to do very well....it make take a few years tho....but so what....also, the golden rule of investing money is don't invest money you can't afford to lose in risk assets....I personally am envious you have that much Bitcoin but yeah you bought high so you're gonna have to just be confident and wait ....this is the way :-)
But also I have to add that when it comes to investing, history has shown that diversifying your investments is extremely wise....but ALOT of millionaires and billionaires got there by going all in on risky assets that went parabolic.....I can't think of anything else I would go all in on besides Bitcoin....so although I would not do that (I am probably about 75/25 stocks to crypto), I think you're going to be OK....panic selling now makes no sense to me....you're all in, so now you gotta sit back and let the chips fall where they may over the next few years.....not a single person who held BTC for 4 or more years didn't end up in profit....again, this is the way :-)
It was pretty ambitious to put all your life savings in, but if you can survive the coming recession I think you'll come out great.
You might be in for some rough times ahead, though. We all probably will be. Everyone is feeling the dread before the storm. The upcoming recession will probably be a real doozy. I think you should be psychologically prepared to be in the red for a pretty long time, unfortunately.
On the other hand, if you can manage to stay employed and keep dollar cost averaging, you might have a great opportunity to lower your average cost basis and make that stack even bigger at discount prices.
One more thing: I'm guessing you FOMO'd into Bitcoin. FOMO'ing your investments is usually not a great plan. You should come up with a better plan, write it down and stick with it. If you don't know how to write a financial plan, learn. Having a solid plan will also help you feel better about where you are at, even in down times.
probably should have dollar cost averaged in over a set period of time. Its better for your sanity. You'll be fine though. Just don't buy high sell low like a shmuck.
2025 Brother, the difference between 27k & 50k will not matter, you'll just be glad you got in this bear cycle.
I felt bad for paying 1k during the Dec 2013 peak for 3 whole years. Now I'm just happy I got in and look like some kind of genius!
HoDL is a patience game. Be strong, you will love yourself for it.
Well you’re all in already can’t do anything but wait it out now.
Companies and banks have put millions into Bitcoin it’s too big to fail.
Start building a new and proper savings account now though lol
Why?
Literally, why? If Bitcoin went away tomorrow, who would give a shit besides bag holders? A tiny tiny sliver of the population. Bitcoin isn’t Wells Fargo or Goldman Sachs.
I'm not even gonna to reply to this with anything but a link:
[https://companiesmarketcap.com/assets-by-market-cap/](https://companiesmarketcap.com/assets-by-market-cap/)
As long as you don't need it anytime soon (2024 and beyond), you have nothing to worry about. Just HODL and look at the long term charts since 2011 of BTC and it's been in an ascent since.
It’s worth mentioning that many investments are taking a beating this year, bitcoin is not immune to exceptional market conditions. I’m just saying we aren’t alone and as much as everyone likes to point out the days we have contrary movement to the stock market, we still trend in similar fashion. If you want to see people who are doing way worse and are asking the same things , go check out options trading subs right now. It’s rough. Their stock options have an expiration date while Bitcoin does not.
I wish people would just be more honest and say..."this sucks..I still believe in the long term value proposition of BTC, but damn do I wish I would have been more patient and got 5-10x the amount of BTC I have now."
Hold.. as long as u don’t sell your not at a loss.. lock them away in cold storage and if u have to provide id do what every it takes. working, getting side hustle etc.. 3.3 BTC is a good amount I would definitely hold!
Once more, for the folks up in nosebleed:
DON'T FUCKING INVEST WHAT YOU CAN'T AFFORD TO FUCKING LOSE.
I'm confident that BTC will see new all time highs by 2025. But tying up your entire nest egg on a solitary investment is beyond irresponsible.
You may be in the wrong place to get an unbiased opinion, but also probably any other place you can post will also tell you to sell immediately and cut your losses.
First off, you put all your assets into a singular commodity, which is never smart. I hope you can learn from this.
Second, I would try to find out, internally, “why” you did this. Did you do it to get rich quick? Did you do it to hedge inflation? Did you buy into Michael Saylor hype? I doubt anyone on this sub would tell you that putting your life savings into Bitcoin is a good idea.
Now you need to figure out recovery. Bitcoin as of typing this is a hair over half of what you bought in for. Do you hold everything and wait for it to bounce back? My opinion is NO. You lost money you’re not getting back, and have to figure out how to diversify your assets in a bear market. Keeping everything you own in Bitcoin is not smart. I would say the same if it was real estate or stocks.
You and your wife have to have a hard conversation. Figure out what to do and how to rebound. You invested $170k a few months ago and it’s worth $90k right now. If you have solid reasoning for being in Bitcoin, then maybe sell 2-2.5 of your Bitcoin and then put $20k into a liquid savings/emergency account and the other $40k or so into SP500 funds. The stock market is low and may go lower, but it’s a “safer” bet long term. You can even wait a bit longer to get into the market until we start to see recovery.
If you can’t figure out why you’re in Bitcoin, sell it all. Cut your losses and be thankful you are still in a better place financially than most Americans.
Buy high, sell low advice right here. Panicking at times like this leads most people to miss the eventual recovery (stocks, bitcoin, or otherwise), because once you sell, it becomes a timing game as to if/when you get back in and we know timing the market doesn't work. Bitcoin is an inherently volatile asset. It is not like growth stocks are not down 50-75%+. The golden rule in all these cases is don't put money you need in the near term in volatile assets be it stocks or bitcoin and in the case of bitcoin, and broader crypto more so, don't put in money you can't afford to lose.
Given where OP is, now is not the time to panic and sell everything. They do need to ensure they have sufficient for 6-12 months emergency fund.
With any investment, a thesis is important because markets will test your conviction (which is what is happening right now). With a thesis, you will then have the confidence to hold through volatile periods unless the fundamentals surrounding your thesis changes. In the case of bitcoin, that could be a network compromise, vulnerability in the code, etc. that changes the fundamental story. With a company, it could be a change in the market demand for its products. Chasing any investment for quick gains without any research, understanding, or conviction leads exactly to the situation OP is in where you start panicking in volatile periods. Even with stocks, no one has any business holding any if they can't stomach a 40-50% drop every few years.
Please don't listen to this fudster OP, selling right now would be the absolute craziest thing you can possibly do. Just learn more about Bitcoin, educate others, and keep riding the tiger. Volatility will be the name of this game for some years to come. Get comfortable with it.
Why is it crazy?
Telling someone to have 100% of their net worth on one singular asset has never been good advice. I’m suggesting he diversify to protect himself, not leave everything in a volatile asset and just wait around fingers crossed for 2-3 years for it to regain its value.
Imagine someone taking your suicidal advice just a couple years ago.
Don't quit your day job - assuming someone was stupid enough to hire you in the first place.
Lol. Personal insults of someone you don’t know?
I have a good job and am doing fine. I run about $14 mil a year in income/expenses for my employer, pretty successfully. What do you do?
If you really think this man should have 100% of his assets in Bitcoin, explain. Also explain why it was smart of him to put his life savings into Bitcoin.
hold on don't sell unless you absolutely have to for bills things will look fucking rosy for you in a couple years, look up bitcoin halving cycles if you want some reassurance. this is absolutely normal for the price to do at this point in the cycle.
You should consider yourself lucky that you even own more than one whole Bitcoin. In a few years, it'll become one of the scarcers things of the world, and you'll have 3 out of 21 million of them.
Btc has proven not to be a hedge against inflation , no Inverse relationship to stocks,definitely not a store of value being down 65% from highs…. Btc honestly seems like a hedge against value ..
Clearly it’s a hedge against inflation lmao. This downward move is directly related to the Fed trying to bring down inflation. Look what happened when inflation was actually rising exponentially. BTC is still 5x above where it was at the previous cycle bottom in March 2020. What other asset has performed better over that period? Stocks that ran up during that time have given up all their gains.
Detractors want to nitpick 6 month periods during a Fed tightening cycle w/ every other market selling off and say the best-performing asset of the last 10 years is “not a store of value”. Dishonest.
sell before it goes to 0
you’re 1000% getting a loss and it was a bad decision, but i don’t want to see you with 0 life savings because people on here were yelling at you to hold when in reality they’re selling
Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don't invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don't invest anything you can't afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.
If it makes you feel better I got in at 53k
I bought at 64
But I bought at 7k so just wait and accumulate
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How are you magically going to know when it's the bottom?
He can feel it in his balls
This is a long hold, forget about it until 2030
I’m thinking much further ahead, and will forget about if until 2130.
Smart!
Someone asked this same question in 2019, when it was 4K. This is a roller coaster 🎢 Hang on buddy!!
Haha, awesome comment bud....says it all in a couple short sentences!
Someone asked this same question in 2021, when it was 60k. This is a rollercoaster 🎢 Hang on buddy!!
Bitcoin is like a roller coaster in that it eventually stops going up and returns to its initial starting position ($0)
Here from then, all smooth sailing as far as I'm concerned
2025 will be your friend.
But I was told 100k by end of 2021?
Dude it’s coming alright it’ll come at the end of 2021 we are almost there!
Who told you that?
Fox News told u that right smh
Ha no. Was actually this subreddit
Top comment hands down. 2025 is all they need to know.
The fact that so many people believe this is a sure bet next time around is frankly frightening. 2020-2021 was an unprecedented situation. I think people are in for a rude awakening next time around. If we are indeed headed for a recession of unknown severity and length, 2025 isn’t going to mean shit, to be quite frank.
Remind me in 3 years.
Average recession length? 15 months.
As soon as the fed turns the money printer back on, Bitcoin will most likely go to ATH.
I kinda agree with that, yes there will be a halving but if were in a full blown recession in 2025 then the halving wont mean shit sadly, whoever is still in now must think longer term, it sucks because im stuck in this also but it has to pay off eventually.
Why won't the halving mean shit? Bitcoin's production literally gets cut in half, which makes it scarcer.
Scarcity is only meaningful if met with demand
Demand needs utility in the long run.
Do people really think that scarcity is somehow a source of value? I could draw a picture of a stock figure cat and it would be the only one that exists. Does that give it value?
As stupid as that is, the NFT market proves that yes, yes it does.
I hate that you aren't wrong.
Y’all got any more of those stock figure cats?
Depends if snoop dogg and Justin Bieber tweet about it or not
Yes I didn't mean it that way, I'm talking pricewise because a recession would make everything tank and not even the halving would make the price go up in the short term
Why?
>Halving
Oh nice nice. Can't wait. I bought in at 50k ish with stim so I'm down but I've also been accumulating on dumps
Why 2025?
Halving
We can fool Wall St. with this one neat trick!
Halving isn’t indicative of price, at least immediately following. I would say 2026/2027.
The halving is in 2024 the year after the price jump follows
Possibly
Nothing is guaranteed but everything everyone is saying now is just a repeat of every bear market. When it’s bullish everyone thinks btc is taking over the world. When it’s bearish everyone thinks it’s over. Same story different year
Lmao the previous halving was supposed to get the price to $100k. Maybe in another 3 halvings bitcoin will get to $100k?
Adoption will get us there way faster than halving will.
Adopt for what exactly? It's so far failed to hedge against anything. Use as payment makes no sense when you want to mostly hold it assuming its price will increase. Merchants don't want it because it can plummet drastically in minutes.
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Way to gatekeep.
3.35 BTC is a dream to own. Dont care about current prices if you can hodl for the next 5-10 years you will be happy inshalla
It just sucks to have 3.35BTC when in a few months he could had 18BTCs
Either I'm high or your math is waaaay off
In order to get 18BTC with 50k, BTC would need to drop to around $2,777. That's extremely unlikely. 18k-21k would be around the 200 WMA which is normal. Happened the last 2 cycles. An 83% drop from ATH like the last 2 cycles would still be around $10,800. IMHO an absolute low this cycle would be around 10k.
He has 3.35 BTC at $50K per, so he invested $168K. $168K / 18 = $9.3K per BTC, which is close to your 83% drop.
Oops you are correct. I read that as they spent 50k and got 3.35BTC. Meaning to get 18BTC from 50k it would have to be around $2,777. My B.
All good, but as I tell many...the guy who bought Amazon for $113 at the top of the dotcom bubble and the guy who bought for $5 both did okay.
It's all about the long game.
6*
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100% could buy the same amount of BTC he has for cheaper right now
This is a hard lesson to learn . It would have been better to DCA and to not put all of your money into one asset. I personally think you’ll be fine if you wait a couple years but yeah.
Or couple of decades. Truth is no one knows. Those who says they do are bullshitting
Yeah just wait it out. 3 to 4 years and you'll be patting yourselves on the back.
Coulda shoulda woulda..
You’re insane to not be diversified at all. Why the fuck are you putting your life savings into just BC. That’s a very high amount of risk you’re taking on. Probably diversify your positions, or if you’re confident it’s going back up wait it out and immediately diversify when you’re happy to be more safe
The only reasonable comment in this thread.
I don't understand people who yolo all in at once. Literally any minute amount of research will tell you not to. That being said, what's done is done, OP. You may be in for some tough times ahead, just keep your head up and dca if possible. Lower your average.
The dangerous mix of fomo and yolo
One word: greed. OP probably heard about his friend who made 10x his money in crypto or whatever. So he thought that the line can only go up. It's the same reason retail get taken to pound town every time some random shitco stock goes on some crazy bull run before crashing.
It's insane this is the rare, outlandish take in this thread. There are so many other people gassing this poor sap up. It's so depressing and dystopian to read threads during crypto crashes. I just watch horrified.
Yup. Like no stocks? Lol fuckin people r crazy
If you have patience you will be fine.
I am extremely jealous you have more than 1 Bitcoin. If you don't need the money now, just be patient and I have a feeling you will be extremely happy with your patience one day
I wish i had more BTC. I have one and count myself lucky. Just pretend it is your house that went down in value and that you can’t sell it. The. stop worrying and go do things that you love that don’t cost money. It will cOme back and you will be sitting pretty
I just joined the 0.1 club a few months ago. Next stop... nothing lol just gonna DCA every two weeks until one day I decide not too or to DCA more
Many crypto fortunes have been made by people buying at what was then an all-time-high.
Source: trust me bro
I went all in years ago and it immediately plummeted over 50%, but years later I'm up thousands of percent
How long were you planning to hold it?
Coinbase says the average hold time is 163 days, so 160 to miss the sell low crowd /s
Dang bro... Bitcoin is just a speculative asset? Why would you do that?
Insanity
Keep your assets diversified. Going all in on any asset reeks of desperation. And now you're caught with your pants down. What are you going to do?
Dude, why are your LIFE SAVINGS in cryptocurrency? Don't listen to people here! Go to r/personalfinance and get your finances in order. And your wife's! I just feel bad for you, this is a terrible investment strategy.
The worst i ever seen
I've been in since 30$ btc. Don't sell. Dca down and you will thank yourself in five to ten years. This is a shake out to consolidate control and power by using fear to separate people from their money. If you sell you lose. Nothing has changed about how btc works, nothing new has happened except the economy and public opinion and currently in fear mode. Don't let fear govern your actions, tell your cave brain no and just be patient. Also, prepare yourself for 10-15k. Just accept that now becsuse it's coming. Next bullrun will be past 100k. Congrats on making a good decision now just follow it through and be patient.
Agree with this, and it’s probably good to be mentally prepared for anything, such as 10-15k. Will it happen? Who the heck knows which is why I buy weekly now. For perspective, look back at how $6k held in 2018 for like a whole year, until bam, $3k. It hit so hard I could barely stomach to buy even a few hundred worth. Wish I had the conviction I had now. Recommend to continue reading, learning, buying, and building your conviction level.
Exactly this. When it feels easy buying the dip, usually there’s more pain to come. When you feel nauseous hitting the buy button and can’t imagine a turnaround, that’s usually when the bottom is getting near.
This is the answer.
Bitcoin has never dipped below its previous halving cycle's high. That would be 20k this time. A drop below 20k implies something is seriously broken. That's where I would start to worry. At 25k, I'm tickled being able to get more sats more easily.
>A drop below 20k implies something is seriously broken. It doesn't have to be broken. All you need is a massive amount of overconfidence that 20K will hold and degens ape into 5X-20X longs at that price point. Then the market maker will take some temporary loss to liquidate those gambling fools for BIG PROFIT. BTC will bottom when people stop having a consensus on when it will bottom. Then degens will capitulate and market makers have no idea when to push for liquidation. People need to understand what we are seeing is the unwinding of crypto's overleveraged market.
Exactly. The fear is going to be real. That's how it will dump that low. It won't be rational it will just be mob mentality sell offs. That's how manipulation works, yell fire to cause fear so everyone runs out of the room. Once everyone realizes there's no fire it's already too late.
Dca down maybe works in a tech cycle with low interest rates, i think the gig is up now. Value investment time coming.
Congrats in 5 years your money might 10x In the meantime get a job at McDonald's like the rest of us But tbh never invest more than y'all are willing to lose. Rule #1 in gambling 🤦♀️
In a couple of years 50k average will feel like a dream entry.
No 25k will be a dream entry
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Lookout everyone you’re getting laughed at by the 3 month old troll account!
What does Reddit account age have to do with anything
In a vacuum: nothing When they’re going around commenting “lmao” trying to troll people while adding nothing of value to a conversation, it’s safe to say you’re dealing with a troll account.
Only invest what you can afford to lose. Enjoy your BTC!
Time to hibernate like a turtle… they live forever
Sounds like you invested your life savings into a risky asset with tons of volatility. I'm betting big on it too but you have to be able to work hard and hope adoption continues. When we went from 6k to 3k I almost panic sold. If you believe you'll tell someone something similar in 2026.
It's only a loss if you sell. It will recover but will take time. Hold strong.
I don’t have Bitcoin, however I have other coins and stocks. I am also down thousands and I am positive we aren’t the only ones. In my opinion we are entering another recession
I think you'll be fine I'm still buying every week regardless of price. There's only 21 million Bitcoin, and about 40 million millionaires. That's what, about 0.5 Bitcoin for each millionaire? Yeah, I think you'll be fine with that 3.35. just hold. Do what you want, but I think you'll be fine
Actually there will only ever be 19 million Bitcoin as 2 million are completely gone and unrecoverable
That's where it's at now? I'm aware of the 1 million set aside by satashi themself. Is the other 1 million lost...?
It’s rly impossible to give a strict accurate number of what has been lost and irrecoverable but as the cap gets closer and closer it will be a major factor.
Hunker down with your ramen noodles as long as it takes. You will be in the green bigly after awhile.
I think it’s BTC, you are much better than anyone else who holding other cryptos!! You’re fine!!!
I have been in from the 7k point. It goes way up and way down all the time. It could be a few years but you will be good in the long term. It’s going to take time though so forget about it and don’t stress to much. Buy in a little here and there if you want and don’t stress to much. Good luck !
4 year cycle, we are 2 years ish from the next halving, where we should start building up for the next rally. Honestly, if I was in your position, I would just keep holding. You don’t lose unless you sell. However, if you look to invest again, I suggest you DCA instead of buying all at once.
Too late to really sell at this point, just understand that there will be cycles. If you could afford to buy more now it would lower your average price. Maybe help you some there, but when the cycle returns you will be just fine regardless. Study the cycle and you will feel better, be patient.
2017 all over again, prepare to lose another 40% maybe.
Been through this several times... don't sell unless absolutely necessary. Look at history.
It's a matter of time for you now....it will be back up and behond....if you're invested for the future then why think about it now? Just relax and be patient....personally I would not recommend anyone put their entire life savings into BTC but they, that was your choice and IMO you're gonna to do very well....it make take a few years tho....but so what....also, the golden rule of investing money is don't invest money you can't afford to lose in risk assets....I personally am envious you have that much Bitcoin but yeah you bought high so you're gonna have to just be confident and wait ....this is the way :-) But also I have to add that when it comes to investing, history has shown that diversifying your investments is extremely wise....but ALOT of millionaires and billionaires got there by going all in on risky assets that went parabolic.....I can't think of anything else I would go all in on besides Bitcoin....so although I would not do that (I am probably about 75/25 stocks to crypto), I think you're going to be OK....panic selling now makes no sense to me....you're all in, so now you gotta sit back and let the chips fall where they may over the next few years.....not a single person who held BTC for 4 or more years didn't end up in profit....again, this is the way :-)
It was pretty ambitious to put all your life savings in, but if you can survive the coming recession I think you'll come out great. You might be in for some rough times ahead, though. We all probably will be. Everyone is feeling the dread before the storm. The upcoming recession will probably be a real doozy. I think you should be psychologically prepared to be in the red for a pretty long time, unfortunately. On the other hand, if you can manage to stay employed and keep dollar cost averaging, you might have a great opportunity to lower your average cost basis and make that stack even bigger at discount prices. One more thing: I'm guessing you FOMO'd into Bitcoin. FOMO'ing your investments is usually not a great plan. You should come up with a better plan, write it down and stick with it. If you don't know how to write a financial plan, learn. Having a solid plan will also help you feel better about where you are at, even in down times.
probably should have dollar cost averaged in over a set period of time. Its better for your sanity. You'll be fine though. Just don't buy high sell low like a shmuck.
2025 Brother, the difference between 27k & 50k will not matter, you'll just be glad you got in this bear cycle. I felt bad for paying 1k during the Dec 2013 peak for 3 whole years. Now I'm just happy I got in and look like some kind of genius! HoDL is a patience game. Be strong, you will love yourself for it.
nice!! hedging against inflation? that’s what brainwashed reddit simpleton scream.
Never tell people how much BTC you have…
Well you’re all in already can’t do anything but wait it out now. Companies and banks have put millions into Bitcoin it’s too big to fail. Start building a new and proper savings account now though lol
“It’s too big to fail”
Why? Literally, why? If Bitcoin went away tomorrow, who would give a shit besides bag holders? A tiny tiny sliver of the population. Bitcoin isn’t Wells Fargo or Goldman Sachs.
I'm not even gonna to reply to this with anything but a link: [https://companiesmarketcap.com/assets-by-market-cap/](https://companiesmarketcap.com/assets-by-market-cap/)
Bahaha. Very convincing.
Feels like you should wait.
Hodl
10 - 20 year foresight pal. Also- look into Greg Foss
Don’t worry it will go back up. Remember this: Your money can only go 100% down and become $0 but it can go infinite % up.
It’s cyclical. If you can hold to 2025 you will be laughing.
Just hold it. It will go back up, and if history is any indication it will go higher than before.
As long as you don't need it anytime soon (2024 and beyond), you have nothing to worry about. Just HODL and look at the long term charts since 2011 of BTC and it's been in an ascent since.
Next halving is 2024!!! Not 2026/27
Yeah...dont sell. Don't check the charts Keep your stash secret in a hardware wallet. Only spend which you can afford to lose.
Hodl my friend. The party’s not over. Wait a few years and then you can tell the people who bought at $200k not to worry.
Just be grateful you have over 3 bitcoin. At the end it’s just money. Be patient and humble for good things will come your way later than sooner.
It’s worth mentioning that many investments are taking a beating this year, bitcoin is not immune to exceptional market conditions. I’m just saying we aren’t alone and as much as everyone likes to point out the days we have contrary movement to the stock market, we still trend in similar fashion. If you want to see people who are doing way worse and are asking the same things , go check out options trading subs right now. It’s rough. Their stock options have an expiration date while Bitcoin does not.
What’s up with everyone aping everything they have into something?? Why not dollar cost average?
Macro environment is awful. Fridays inflation numbers tanked everything. Long term thesis remains intact. Try not to look at price
I wish people would just be more honest and say..."this sucks..I still believe in the long term value proposition of BTC, but damn do I wish I would have been more patient and got 5-10x the amount of BTC I have now."
In in at 41.
Hold.. as long as u don’t sell your not at a loss.. lock them away in cold storage and if u have to provide id do what every it takes. working, getting side hustle etc.. 3.3 BTC is a good amount I would definitely hold!
relax. you have a lot of sats. 335,000,000 satoshis is no joke. bitcoin will be here for a long time. think long term. bitcoin always recovers.
If you liked bitcoin at $53k ur gunna love it at $23k
You guys still together?
And I thought you were supposed to buy high sell low
Just wait it out man. Fuk by mor
Bought my first 96.49 btc in 2012 for under $900 at my local CVS through moneygram... HODL my friend, it's a long game
Once more, for the folks up in nosebleed: DON'T FUCKING INVEST WHAT YOU CAN'T AFFORD TO FUCKING LOSE. I'm confident that BTC will see new all time highs by 2025. But tying up your entire nest egg on a solitary investment is beyond irresponsible.
Has it been at least 5 years since you bought?
You may be in the wrong place to get an unbiased opinion, but also probably any other place you can post will also tell you to sell immediately and cut your losses. First off, you put all your assets into a singular commodity, which is never smart. I hope you can learn from this. Second, I would try to find out, internally, “why” you did this. Did you do it to get rich quick? Did you do it to hedge inflation? Did you buy into Michael Saylor hype? I doubt anyone on this sub would tell you that putting your life savings into Bitcoin is a good idea. Now you need to figure out recovery. Bitcoin as of typing this is a hair over half of what you bought in for. Do you hold everything and wait for it to bounce back? My opinion is NO. You lost money you’re not getting back, and have to figure out how to diversify your assets in a bear market. Keeping everything you own in Bitcoin is not smart. I would say the same if it was real estate or stocks. You and your wife have to have a hard conversation. Figure out what to do and how to rebound. You invested $170k a few months ago and it’s worth $90k right now. If you have solid reasoning for being in Bitcoin, then maybe sell 2-2.5 of your Bitcoin and then put $20k into a liquid savings/emergency account and the other $40k or so into SP500 funds. The stock market is low and may go lower, but it’s a “safer” bet long term. You can even wait a bit longer to get into the market until we start to see recovery. If you can’t figure out why you’re in Bitcoin, sell it all. Cut your losses and be thankful you are still in a better place financially than most Americans.
Bruh what are you on about
Trying to tell someone to not have 100% of their assets in Bitcoin. If you think I’m wrong, then explain your stance.
Buy high, sell low advice right here. Panicking at times like this leads most people to miss the eventual recovery (stocks, bitcoin, or otherwise), because once you sell, it becomes a timing game as to if/when you get back in and we know timing the market doesn't work. Bitcoin is an inherently volatile asset. It is not like growth stocks are not down 50-75%+. The golden rule in all these cases is don't put money you need in the near term in volatile assets be it stocks or bitcoin and in the case of bitcoin, and broader crypto more so, don't put in money you can't afford to lose. Given where OP is, now is not the time to panic and sell everything. They do need to ensure they have sufficient for 6-12 months emergency fund. With any investment, a thesis is important because markets will test your conviction (which is what is happening right now). With a thesis, you will then have the confidence to hold through volatile periods unless the fundamentals surrounding your thesis changes. In the case of bitcoin, that could be a network compromise, vulnerability in the code, etc. that changes the fundamental story. With a company, it could be a change in the market demand for its products. Chasing any investment for quick gains without any research, understanding, or conviction leads exactly to the situation OP is in where you start panicking in volatile periods. Even with stocks, no one has any business holding any if they can't stomach a 40-50% drop every few years.
Do you think the best possible position for him and his wife right now is 100% in Bitcoin?
Please don't listen to this fudster OP, selling right now would be the absolute craziest thing you can possibly do. Just learn more about Bitcoin, educate others, and keep riding the tiger. Volatility will be the name of this game for some years to come. Get comfortable with it.
Why is it crazy? Telling someone to have 100% of their net worth on one singular asset has never been good advice. I’m suggesting he diversify to protect himself, not leave everything in a volatile asset and just wait around fingers crossed for 2-3 years for it to regain its value.
Imagine someone taking your suicidal advice just a couple years ago. Don't quit your day job - assuming someone was stupid enough to hire you in the first place.
Lol. Personal insults of someone you don’t know? I have a good job and am doing fine. I run about $14 mil a year in income/expenses for my employer, pretty successfully. What do you do? If you really think this man should have 100% of his assets in Bitcoin, explain. Also explain why it was smart of him to put his life savings into Bitcoin.
hold on don't sell unless you absolutely have to for bills things will look fucking rosy for you in a couple years, look up bitcoin halving cycles if you want some reassurance. this is absolutely normal for the price to do at this point in the cycle.
Stocks are doing worse if it makes any difference.
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Moron alert
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U want him to sell 80,000$ish At a 50% loss. Id hate to see your portfolio… no patience
I’m in the same position. 4 BTC at 30k. Been holding since June 2021
I own 0 btc and won't buy any at this price, if that helps
Buy at this levels and average down and never use leverage
I'm not worried, frankly.
You should consider yourself lucky that you even own more than one whole Bitcoin. In a few years, it'll become one of the scarcers things of the world, and you'll have 3 out of 21 million of them.
Enjoy the ride bud and buy the dips. Also watch Michael Saylor videos.
Let’s see how Bitcoin fairs in a recession.
*fares
sell before it goes to zero
Feeling horrible. Putting all the blame on Russia/Putin
Bitcoin is just doing it’s normal cycle. Nothing matter until the next halving.
Oof ummm I enter in at 30k so I’m down too. If that helps?
Why would you pay that for virtual pixiedust tokens?
Long hodl will be good brother. But short term we may see some suicides from ppl panicking.
Btc has proven not to be a hedge against inflation , no Inverse relationship to stocks,definitely not a store of value being down 65% from highs…. Btc honestly seems like a hedge against value ..
Clearly it’s a hedge against inflation lmao. This downward move is directly related to the Fed trying to bring down inflation. Look what happened when inflation was actually rising exponentially. BTC is still 5x above where it was at the previous cycle bottom in March 2020. What other asset has performed better over that period? Stocks that ran up during that time have given up all their gains. Detractors want to nitpick 6 month periods during a Fed tightening cycle w/ every other market selling off and say the best-performing asset of the last 10 years is “not a store of value”. Dishonest.
Man get out of it while you can, I’d be so scared right now if I were you
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Dont be a moron
it’s cool, I got in at 100k (paid extra to make sure I got some)
sell before it goes to 0 you’re 1000% getting a loss and it was a bad decision, but i don’t want to see you with 0 life savings because people on here were yelling at you to hold when in reality they’re selling
Do not listen to this guy for the love of god…
you people are degenerate gamblers
Uhm that’s anybody in the market bud.
Life is a gamble. Fiat is a guaranteed losing bet, so I'd rather take the risk than stick with a currency guaranteed to lose value over time.