My Bitcoin mistake which I will not make again!
Throwing away money
Back in 2014 I started with buying Bitcoins when Bitcoin was almost at it’s all time high; round $ 1000. I felt confident with getting in to Bitcoin As it was growing. I bought around 2 Bitcoins back then, just to get a feeling. I had Big plans buying more and make my pension out of this. Stories about people buying and mining these Bitcoins, making millions because they were first made me think I would be able to do the same.
Going down
Then Bitcoins started going down. A lot of negative news came in to the market and I lost trust at that time. This was my biggest Bitcoin mistake up till now; Instead of buying at the lowest price of round $ 200,- on Bitstamp I sold at $450!
As you can see now, this was not a real smart thing to do.
What am I trying to say
Don’t panic. If you Have Bitcoin, Based on my History in Bitcoin, price will get back up. Right now we are going down, and sure, you will see your wallet getting smaller and smaller. But without wanting to give you any trading advise, I have the feeling Bitcoin will go back up. Why I think so? Based on history, Bitcoin dropping from $1000 back to $210. I read a lot about Bitcoin, and people who have told me the correct thing in the past, I trust they give me the correct advise right now. Sure they are no psychics, but based in history they gave me correct advise before. Last thing I base my feeling on; is the volume that is traded these days.
As you can see the volume has grown. Back at the first all time high the 24h trading volume was around $ 42 million, right now, trading volumes are aa big as 2 Billion.
What have I learned
I learned not to panic when everything is going down. Should you take my advice on this? Like the people I base my feeling on, I am not a Psychic.. But I am not worrying right now. I am even planning to buy more when the time is right.
Hope you enjoyed my post. Greetings @gindor
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Everybody makes mistakes Gindor! How great to read about yours and how helpfull that is to others like me. . thnx man
I am one week into the crypto space. Massive overload of information and I made a lot of mistakes. Almost sold my bitcoin at a loss after the last weeks dip. But I decided to HODL for the very same reason. It will get back up.
Great info @gindor. Never make 'financial decisions with emotion' - easier said than done. .lol the human animal struggles with this, but that's said it isn't impossible. I noticed that the more I become comfortable with reading charts and analyzing current events - the easier it is to relinquish emotion. Some semblance of factual data can help fill that void. When little or none is present - sit on your hands 😎. When investing, I've learned that sometimes doing nothing is the hardest thing to do. Best advice I've ever been given: "Buy blood in the streets and sell at the party." Followed & Upvoted, nice article.
Good share 😊
thanks!
Welcome😊
Very helpful!!!
Upvoted
Perhaps you need my post too?
https://steemit.com/cryptocurrency/@vnukkarpov/top-10-services-for-analytics-cryptoeconomics-with-screenshots
Thanks for the compliment, and good post.. upvoted and followed
Awesome post!
Thanks!
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If you make a loss of a 1000$ Then you acquire knowledge worth 1000$
at least that what I am telling myself instead of sobbing in a fetal position on the floor....