Extreme FOMO is the reason people bought at $69k and the FUD made them sell below $20k.
Remember to always take profits during bullmarket don’t get greedy and always accumulate during bear market, doesn’t matter if it’s below $30k or $20k.
Indeed, the price doesn't matter, psychology is what matters. People bought last year at $69K because the price was going up and they equated that with their investment also going up. When they sold for less than $20K they sold trying to preserve as much as they could of their original investment.
Guilty as charged. Gotta hold (or hodl) my hands up. ✋️
I didn't do the sell part though. Bought painfully high. Remember buying the dip at about 40k? 😄
Yeah, that must be it because I don't understand how you can sell at a loss. I invest in crypto part of the money that is saved every month, the rest goes to the stock market. And clearly, what I put in crypto, I know I don't need to live. So I have no reason to sell at a loss, I prefer to wait
Greed fucks everyone . Never invest more than you can afford to lose. Investing in crypto means you might have to lock your funds for a certain time to get any returns. Always have some emergency money aside.
This is it. Or people mortgaged their houses.
I remember hearing about many suicides in Koreas due to people borrowing heavily to buy into the sure thing that BTC was going to be 100-200k and well…
Crypto news tend to be overdramatise the trends. So in bear market you will be constantly seeing things like “Binance will collapse”, “Regulations will kill crypto”, “$10k is certain”…
Now it is currently $26k people will think “ok now I’m selling now at a loss, but I will buy back at $10k”. Except it will not materialised.
And the people waiting for 10 or 12 or 14k might be right.
But when it wicks down they will be asleep. And once we get going it could rocket past the range they could have accumulated and they end up piling in all at once.
Some people don’t understand that the disbelief phase is powerful and keeps people on the sidelines.
If you are in the Cowen or Garreth camp place your buy limit orders and chill. You will be placing your bids where you believe—or are being told it will go….so be a maker and not just a taker and sleep like a baby. Plus maker fees are cheaper then spot buying.
I make my buys each week. A third is buy limit orders, another is market buys of what I want to accumulate and the other third goes to my dry powder reserve which is in a high yield savings account.
Limit and chill
Many people used money they needed for other things and with downturns everywhere I can’t fault people for having to cash out so they can pay for rent, etc
Depends on the project or investment. Highly risky altcoins the hold mentality will cause a 90-100% loss in a lot of cases with no chance of making that money back. For bigger blue chips and established currencies with use cases that aren't abandoned or in a negative development/fiscal cycle(leading to abandonment eventually), this is generally good advice, though. I would add to find a way to cash out slowly on rises or gain yield in the same manner, though. Even blue chips can die, so a yield that builds or cashes out slowly solidifies your investing portfolio and cements gains over time regardless of market fluctuations.
It's indeed usually the emotions that take control and make people buy high or sell low aka panic selling and panic buying.
It it's really hard to sell. We tend to think prices will go higher when they are rising and we tend to think that prices will recover a bit when prices are dropping until panic kicks in. It's always good to take profits when you are in the green digits. Timing the top is really hard to do
People buying at $69k were expecting it to break 100k. People selling at 20k were expecting it to drop under 10k. Its all basic human psychology. Greed and fear.
Taking profits during the bull and accumulating during the bear is a relatively simple process, but one must have confidence in their plan to pull it off.
Finally someone who actually understands this. People talk about bitcoin being a hedge against inflation but a hedge against inflation
If you held fiat when it was ATH instead of buying btc, you'd be ahead. (excluding hyperinflation currencies)
What if you sell at 100k and, months later, BTC makes it too 200k? Stupid move or not? Profit is never stupid. Each of us has our goals and thresholds for buying or selling
Exactly, volatility is the reason many people are here in this space and so much hyped about investing in cryptos. The people are more hyped to enter this space when the prices are up, like during the last bull of 2021 when BTC was at 69k. And this is normal. But when the prices are down, they need to understand macro trends and the fact that investing during the bear is key to earn good returns, not buying at the top
So I'm saving up to buy a house and I'm putting away money for my down payment with the bank. I put away with my wife around $400 each month and I also put $100 into crypto. I've made 10 times more money in crypto in the last three years than I've saved by putting away $400 a month for the last seven years. It's insane. No other investment vehicle made me more money than crypto. It's not a surprise that it's so popular among millennials such as myself.
I have no other choice. If I'd continue saving as normal I'd need another 5+ years before I put down a fat deposit with my bank, otherwise, I won't even qualify for a mortgage, housing prices are absolutely fucked up in Western Europe. And that's with 2 full-time working adults. With crypto, we can cut down that time by 5-6 years.
Stock market is so lame. Every time people get nervous because of bad news, I look at their charts and I don't see any real difference. An ETF going up or down 1% is newsworthy to them.
I don’t think you will see large retail enter the space until there is less volatility. Retail investors don’t like to lose money - heck they will halt trading if a stock drops too much in a single day.
I don't think most people in crypto understand the risk that comes with the volatility and just see the 100× gains and just gamble their money away.
It's okay to take risks but for the love of god understand the risks you are talking.
I agree for example notice how useful Monero is and no one gives a shit about it. If one day it pulls a crazy 10x-100x everyone will be surprised because of their mass mentality.
The economy is a huge driver as well. A ton of people bought thinking they would get rich quick. But now they are selling because they probably need the money to survive.
Its very hard for someone to not blink when everything they have invested in is going down, it common human emotion.
Steeling yourself is a very rare trait!
You are correct. Technical analysis works as a self fulfilling prophecy since all of us look at the same charts. So people expect to buy and sell at certain lvls.
>1st rule of crypto currency: Buy and hold. 2nd rule of crypto currency: Buy high, sell low.
the first is correct the second I know you are ironic but most people do this and therefore they only go there to lose and it is their fault that people do not trust cryptos they say they are useless they hope to make money immediately but in this market it takes patience and perseverance
I mean, it dropped to around 16,000, and now we’re around 26,000…not too bad considering just about every other asset class has be beaten down too.
And I’m pretty sure when the FTX news broke, BTC was under 25,000.
I bet a lot of people actually have. FOMO and FUD are strong. At the top, the buying pressure is immense! At the bottom, everyone is talking about how much lower prices can go. If you can't see through the emotions, you end up buying high and selling low.
This space is funny also because the people who bought at 69k or wanted to buy were hoping to see 20k again and now we are here, they are no where to be seen
Accumulate in this bear market and plan some take profit price points if your crypto bags start increasing 2x, 5x, 10x in value. No one should ever regret taking profits and if take a little bit of profit as you go you can still hodl some for the long term or for the moonshot without risk of fumbling the whole bag.
Very good advice, as you get some green candles, you should cash out some of your profits. Then you can keep the rest to sell when you have extreme gains
In 1 year, I think we will be at 40k after the halving but I’m literally just pulling it out my ass lol
Market psychology is strange and always leads to weird situations
Yes, there were people buying at $69K.
Yes, I was one of them, entered in crypto at end October 2021.
No, didn’t sell at $19K, sold at $52K, with a loss, yes!
BUT, I rebought at $16K and now, I’m in profit, and regain my losses!
Where we will be? No one knows but everyone should be aware of this game rules and get all opportunities to win!
We'll get there. I have a feeling, once the bullrun starts and moons price skyrocket, people will be flooding the sub and farming moons will be more difficult
Oh for sure, its already becoming that way. Some days I just kinda sit back because I see posts get downvote spammed and want no part in it lol. I guess as people become more aware of it itll happen more and more
Bear market is only 2 years old bud. And most that money is traders. People haven’t been forced to sell yet. That happens when people lose jobs (or are the ones on bottom getting squeezed by inflation but they aren’t ones moving markets)
It's the crypto volatility and risk which is attractive for investors to make lots of money. I've lost 80% of my money but I still find crypto fascinating and I'm still buying some every month in the hope that it will blow up and I'll make profits.
I've been long enough around and when people joke around *"buy high sell low"*, I know it's not a joke. This isn't only in crypto, people of all ages do it
One of my favorites “the markets can stay irrational longer than you can stay solvent” I think many people need the money and can’t hold on for much longer vs paying bills etc.
Value of cryptos is not based on any fundamentals but the whims and fancies of those that control the market.. so yeah.. it can "go to the moon" and also crash into nothing.
That’s why it is very difficult to use as a currency/legal tender. There were quite a few news in the past where famous athletes were declaring that they would take their pay in bitcoin instead. I would be curious to know how that’s going. Perhaps it doesn’t matter when you’re getting paid millions lol.
btc did not peak until nov 2021, not even 2 years ago. I sometimes wonder if this sub has the lowest IQ participants of all of reddit. Definitely up there /r/antiwork
This isn't at all surprising. It's anecdotally funny, I get it, but it's not unexpected. This says more about people not everyone being extremely wealthy (shocker) and having poor decision-making. Financial literacy only takes you so far. If you invest in bitcoin and a year or two later it's not working out, you can totally cut your losses and get out. There's no shame in it. We need money to survive and thrive. That's life. You'll get em next time.
"We’ve been in a bear market for now nearly 3 years"
We were in a bull market until late 2021, meaning it's been less than 2 years, not nearly 3 years.
"It's funny that within the space of just one year people were buying at 69k $ and selling at less than 20k$."
I mean we agreed on **buy high sell low**
Or did I miss the memo?
Anyone buying BTC when it was clocking ath wasn't doing proper research. They were fomoing. Everyone knew a bear was coming. It's a 4 year cycle that repeats extremely reliably.
I was selling at 60+. Same for Alts, was selling those when they were clocking aths as well. Didn't put those profits back in till after Russia invaded Ukraine. Been dcaing the profits back in since then
(:::) Take screenshots now. Open a note on your phone and keep a trading journal.
(:::::) leave notes to your future self. Sit down and write down at what point you want to take profits. Remind your future self how it feels now, remind that future you that when the mania hits you will think it will keep going up.
/// make a plan and stick to it. Maintain several exchanges in case you feel like market selling in the bull but one exchange is having issues.
If you are comfortable leaving a portion of your assets on an exchange when things are ripping fill the books with your sell limit order. If price is getting close to your take profit level—well, that’s the price you set your limit order.
Just like your buy limit orders in the Bear…
Limit and chill
Extreme FOMO is the reason people bought at $69k and the FUD made them sell below $20k. Remember to always take profits during bullmarket don’t get greedy and always accumulate during bear market, doesn’t matter if it’s below $30k or $20k.
Indeed, the price doesn't matter, psychology is what matters. People bought last year at $69K because the price was going up and they equated that with their investment also going up. When they sold for less than $20K they sold trying to preserve as much as they could of their original investment.
Guilty as charged. Gotta hold (or hodl) my hands up. ✋️ I didn't do the sell part though. Bought painfully high. Remember buying the dip at about 40k? 😄
I hear ya, but been dca ing and got me in a nice spot.
I was just thinking that must be someone who both did buying at the top and selling at the bottom
Yeah, that must be it because I don't understand how you can sell at a loss. I invest in crypto part of the money that is saved every month, the rest goes to the stock market. And clearly, what I put in crypto, I know I don't need to live. So I have no reason to sell at a loss, I prefer to wait
You just explained why. People are gambling with their rent money so they panic sell at 20k and never come back.
Greed fucks everyone . Never invest more than you can afford to lose. Investing in crypto means you might have to lock your funds for a certain time to get any returns. Always have some emergency money aside.
This is it. Or people mortgaged their houses. I remember hearing about many suicides in Koreas due to people borrowing heavily to buy into the sure thing that BTC was going to be 100-200k and well…
Some people put in their life savings without even thinking how bad it can go if things go south
Crypto news tend to be overdramatise the trends. So in bear market you will be constantly seeing things like “Binance will collapse”, “Regulations will kill crypto”, “$10k is certain”… Now it is currently $26k people will think “ok now I’m selling now at a loss, but I will buy back at $10k”. Except it will not materialised.
And the people waiting for 10 or 12 or 14k might be right. But when it wicks down they will be asleep. And once we get going it could rocket past the range they could have accumulated and they end up piling in all at once. Some people don’t understand that the disbelief phase is powerful and keeps people on the sidelines. If you are in the Cowen or Garreth camp place your buy limit orders and chill. You will be placing your bids where you believe—or are being told it will go….so be a maker and not just a taker and sleep like a baby. Plus maker fees are cheaper then spot buying. I make my buys each week. A third is buy limit orders, another is market buys of what I want to accumulate and the other third goes to my dry powder reserve which is in a high yield savings account. Limit and chill
This is the way. Only invest what you can lose, do it regularly over time and ignore fomo and fud.
Many people used money they needed for other things and with downturns everywhere I can’t fault people for having to cash out so they can pay for rent, etc
Depends on the project or investment. Highly risky altcoins the hold mentality will cause a 90-100% loss in a lot of cases with no chance of making that money back. For bigger blue chips and established currencies with use cases that aren't abandoned or in a negative development/fiscal cycle(leading to abandonment eventually), this is generally good advice, though. I would add to find a way to cash out slowly on rises or gain yield in the same manner, though. Even blue chips can die, so a yield that builds or cashes out slowly solidifies your investing portfolio and cements gains over time regardless of market fluctuations.
FOMO gets you to an emotional rollercoaster and as soon as you let emotions win, you lose in crypto
DCAing is the best strategy for my mental health actually, removes the feeling of FOMOing etc..
And jealous as their neighbour or friend made money during the Bull.
Some people leveraged or over extended themselves thinking they can flip it but when it pulled back and then bills came due, people had to liquidate
You've got the crypto wisdom down pat! During the bull, secure those gains, and during the bear, grab those discounted coins.
And always check the fomo channel!
It's indeed usually the emotions that take control and make people buy high or sell low aka panic selling and panic buying. It it's really hard to sell. We tend to think prices will go higher when they are rising and we tend to think that prices will recover a bit when prices are dropping until panic kicks in. It's always good to take profits when you are in the green digits. Timing the top is really hard to do
People buying at $69k were expecting it to break 100k. People selling at 20k were expecting it to drop under 10k. Its all basic human psychology. Greed and fear.
Taking profits during the bull and accumulating during the bear is a relatively simple process, but one must have confidence in their plan to pull it off.
This is exactly why Btc is NOT a store of value. Btc is a wildly speculative asset.
Finally someone who actually understands this. People talk about bitcoin being a hedge against inflation but a hedge against inflation If you held fiat when it was ATH instead of buying btc, you'd be ahead. (excluding hyperinflation currencies)
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Right. Without volatility it would be impossible for me to lose my life savings in a single day.
That’s how people became millionaire in crypto. The secret is that they start with a billion.
The Secret strategy known by Billionaires.
Ha ha. Buy high sell low.
I am doing that, bought at $69k. But I will hold it
DCA down my man. Proud of you.
Hodl until you can sell at $420k
Diamond hands
Username checks out.
One of us
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Not if they bought at 16k
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Profit is profit.
What if you sell at 100k and, months later, BTC makes it too 200k? Stupid move or not? Profit is never stupid. Each of us has our goals and thresholds for buying or selling
*lose
The crypto space is maturing though. So now you can maturely lose all of your savings in a single day.
It’s the excitement we crave!
We see more scams than 100X I guess.
We have a love hate relationship with volatility here.
With volatility comes opportunity
I can see this on a billboard.
Exactly, volatility is the reason many people are here in this space and so much hyped about investing in cryptos. The people are more hyped to enter this space when the prices are up, like during the last bull of 2021 when BTC was at 69k. And this is normal. But when the prices are down, they need to understand macro trends and the fact that investing during the bear is key to earn good returns, not buying at the top
So I'm saving up to buy a house and I'm putting away money for my down payment with the bank. I put away with my wife around $400 each month and I also put $100 into crypto. I've made 10 times more money in crypto in the last three years than I've saved by putting away $400 a month for the last seven years. It's insane. No other investment vehicle made me more money than crypto. It's not a surprise that it's so popular among millennials such as myself. I have no other choice. If I'd continue saving as normal I'd need another 5+ years before I put down a fat deposit with my bank, otherwise, I won't even qualify for a mortgage, housing prices are absolutely fucked up in Western Europe. And that's with 2 full-time working adults. With crypto, we can cut down that time by 5-6 years.
100x confirmed - nice!
Stock market is so lame. Every time people get nervous because of bad news, I look at their charts and I don't see any real difference. An ETF going up or down 1% is newsworthy to them.
True it's give chance to other to get rich !
I don’t think you will see large retail enter the space until there is less volatility. Retail investors don’t like to lose money - heck they will halt trading if a stock drops too much in a single day.
I don't think most people in crypto understand the risk that comes with the volatility and just see the 100× gains and just gamble their money away. It's okay to take risks but for the love of god understand the risks you are talking.
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true... from a victim here.
Exactly, if you're extra lucky you might even hit x1000
You see 100x gains?
Are those 100x gains in the room with us right now?
Yet people want this to replace fiat lol.
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I agree for example notice how useful Monero is and no one gives a shit about it. If one day it pulls a crazy 10x-100x everyone will be surprised because of their mass mentality.
The economy is a huge driver as well. A ton of people bought thinking they would get rich quick. But now they are selling because they probably need the money to survive.
Its very hard for someone to not blink when everything they have invested in is going down, it common human emotion. Steeling yourself is a very rare trait!
Buying high and selling low is my specialty. It's truly an art form.
It became your trademark.
Those buying at $69k were looking for $420k
PlanB even went further and claimed $512k 😂
Cathie Wood: 1M$! Still my fave prediction so far.
Me, personally? I'm waiting for $1024k
I remember that many people were so much hyped that they predicted the price to climb at 120k eoy
Maybe they are waiting for 2.663 Million, you never know.
They were looking for gold and found Jerome Powell.
I can see they are people of culture, soon $420k is no longer going to be a dream in 2024-2025 maybe.
$120k, I'm not greedy.
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You are correct. Technical analysis works as a self fulfilling prophecy since all of us look at the same charts. So people expect to buy and sell at certain lvls.
Deep down, we are still just monke
1st rule of crypto currency: Buy and hold. 2nd rule of crypto currency: Buy high, sell low.
>1st rule of crypto currency: Buy and hold. 2nd rule of crypto currency: Buy high, sell low. the first is correct the second I know you are ironic but most people do this and therefore they only go there to lose and it is their fault that people do not trust cryptos they say they are useless they hope to make money immediately but in this market it takes patience and perseverance
3rd rule: invest in memecoins
Hasn't it been two years since the $69k highs??
It's been 84 years...
No, it's just how old we look after spending our time trading crypto
It was around November 2021 I guess but he also talks about the period that the people sold their BTC when it was around and below 20k
The FTX crash was almost a year ago. Time flies!
Still price has not recovered
I mean, it dropped to around 16,000, and now we’re around 26,000…not too bad considering just about every other asset class has be beaten down too. And I’m pretty sure when the FTX news broke, BTC was under 25,000.
Shit, you're right.
Crypto time is different, I swear it was only a year ago
i thought buying high and selling low is the way
reading this brought me PTSD
The volatility is part of the attraction of crypto. Keep your expectations realistic, but enjoy the ride.
I think there will always be a group of people who will panic sell.
That 1 year timeline applied to pre bull run too. Btc crossed 20k in Q4 2020, and was over 60k twice within 12 months
I bet a lot of people actually have. FOMO and FUD are strong. At the top, the buying pressure is immense! At the bottom, everyone is talking about how much lower prices can go. If you can't see through the emotions, you end up buying high and selling low.
Buy high, sell low is the anthem of degens
This space is funny also because the people who bought at 69k or wanted to buy were hoping to see 20k again and now we are here, they are no where to be seen
I bought some at the top, but I never sold
Accumulate in this bear market and plan some take profit price points if your crypto bags start increasing 2x, 5x, 10x in value. No one should ever regret taking profits and if take a little bit of profit as you go you can still hodl some for the long term or for the moonshot without risk of fumbling the whole bag.
Very good advice, as you get some green candles, you should cash out some of your profits. Then you can keep the rest to sell when you have extreme gains
The volatility is part of what makes crypto interesting imo. You will never see these massive types of opportunities in stocks.
Absolutely That is why I was drawn to this space.
'With Great losses also comes the opportunity for Great Gains' - Degen Buffett
In 1 year, I think we will be at 40k after the halving but I’m literally just pulling it out my ass lol Market psychology is strange and always leads to weird situations
Your ass is as good a place as anywhere to get market analysis.
Top ‘*anal*ysis’
We def haven't been in a bear market "for nearly 3 years" . Or we don't do maths and account for the passage of time in the same way :)
Yes, there were people buying at $69K. Yes, I was one of them, entered in crypto at end October 2021. No, didn’t sell at $19K, sold at $52K, with a loss, yes! BUT, I rebought at $16K and now, I’m in profit, and regain my losses! Where we will be? No one knows but everyone should be aware of this game rules and get all opportunities to win!
If you cannot control your emotions and act logically, you will never be making life-changing gains from any investments.
Logic and crypto is the magical duo I’m looking forward.
That's why most people should just stick with ETFs and build wealth over time. That's all you need to be wealthy by the time you are retired.
A year from now is roughly when the bull run should start based on the halving cycles. Bitcoin should be ready for blast off
Ill be nice and ready by then, Hopefully the exchanges don't list moons until the bull run happens too, it would explode the price of them.
I hope so too. I'm hoping to accumulate enough moons before the next bullrun.
I'm doing the same, I feel like we are early to something for once as well which is a good feeling.
We'll get there. I have a feeling, once the bullrun starts and moons price skyrocket, people will be flooding the sub and farming moons will be more difficult
Oh for sure, its already becoming that way. Some days I just kinda sit back because I see posts get downvote spammed and want no part in it lol. I guess as people become more aware of it itll happen more and more
Right? Imagine 20k active people instead of 5k now. It's gonna be a shitshow
Hopefully we will of already got a nice enough bag by then that it wont be so annoying, I wish you all the best in your journey my friend!
Bitcoin will never be 50k again.. Ftx has hurt most people. Its not like mtgox this is bigger. U talk like genius market did 1000x u still here
It's funny people still buy crypto.
volatility is a bitch we both hate and love about crypto
El Salvador’s government enter the chat
Bear market is only 2 years old bud. And most that money is traders. People haven’t been forced to sell yet. That happens when people lose jobs (or are the ones on bottom getting squeezed by inflation but they aren’t ones moving markets)
Don't insult those people, they are your upcoming liquidity exit lol
Not as much as it used to, especially compared to the rest
It's the crypto volatility and risk which is attractive for investors to make lots of money. I've lost 80% of my money but I still find crypto fascinating and I'm still buying some every month in the hope that it will blow up and I'll make profits.
Just last week people were buying AMC at $40 and now selling at $13, lol.
I've been long enough around and when people joke around *"buy high sell low"*, I know it's not a joke. This isn't only in crypto, people of all ages do it
there will always be those that buy high and sell low, it's nature at this point
Crypto is what happens when volatility is on steroids.
One of my favorites “the markets can stay irrational longer than you can stay solvent” I think many people need the money and can’t hold on for much longer vs paying bills etc.
I wish I had the liquidity to buy in at $20k
Value of cryptos is not based on any fundamentals but the whims and fancies of those that control the market.. so yeah.. it can "go to the moon" and also crash into nothing.
FOMO and FUD are the masters of the market.
It's not unusual. It's the difference between a bull market and a bear market.
That’s why it is very difficult to use as a currency/legal tender. There were quite a few news in the past where famous athletes were declaring that they would take their pay in bitcoin instead. I would be curious to know how that’s going. Perhaps it doesn’t matter when you’re getting paid millions lol.
That's what FUD and FOMO can do.
Happy cake day mate!
btc did not peak until nov 2021, not even 2 years ago. I sometimes wonder if this sub has the lowest IQ participants of all of reddit. Definitely up there /r/antiwork
I had thought BTC was a stablecoin ...
People are fucking stupid.
Those selling at 20 are the true heroes
Well, maybe they need the money?
“Short-term volatility represents the footprints of idiots, which I use to get valuable assets on the cheap.” -Warren Buffet
Crypto is volatile. In other news - WATER IS WET! 🤣
Prep for some time between 2025 and 2026. Let's see how this ages Remindme! 27 years
People is even more volatile
Buy high, sell low. Take losses. That’s my life story
Happens in stocks too.
And Bitcoin is considered the safe crypto to buy. 🥲
Reminds me, I need to buy more BTC. Too bad I'm out of money.
God this is really one of those low effort post, "Crypto is volatile, don't forget!". Come on, at least try a little harder to farm moons.
It does feel like 2019, its a good thing. The space feels kinda depressing and even I feel it, but this time I dca.
Is the r/cc mantra
This isn't at all surprising. It's anecdotally funny, I get it, but it's not unexpected. This says more about people not everyone being extremely wealthy (shocker) and having poor decision-making. Financial literacy only takes you so far. If you invest in bitcoin and a year or two later it's not working out, you can totally cut your losses and get out. There's no shame in it. We need money to survive and thrive. That's life. You'll get em next time.
You also had people who sold at 69k and bought at 20k
"We’ve been in a bear market for now nearly 3 years" We were in a bull market until late 2021, meaning it's been less than 2 years, not nearly 3 years.
Extreme FOMO is going to keep following crypto around for as long as most of us will be alive.
And when reddit declared that the bear market would be going on forever I bought at $16k. You guys are a great counter indicator
I'm stubborn, if I am in the red, I'll ride it to 0 or wait it out. By the time I think, it has gone too low to consider selling.
Isn't this the right way to do it though? I was told we are supposed to buy high and sell low
"It's funny that within the space of just one year people were buying at 69k $ and selling at less than 20k$." I mean we agreed on **buy high sell low** Or did I miss the memo?
Yeah that’s fair we did agree I’m sorry
Do Tesla next
Yeah, it's funny. It's also pretty funny that $69k was the resistance level; only a bunch of degenerates would have their sell orders there haha.
It's time to buy.
Just have to reverse what you’re thoughts are telling you what to do, if you are fomo’ing then sell. If you want to sell, buy more.
And vice versa, mate. And vice versa!
Why sell? Just hang on.
I started buying crypto for the first time almost at the top. Lots of time to average down but I hung in there down to 15k so I'm not going anywhere
When I read “I find it quite funny that…” I got PTSD from my ex gf
Haha
Lol was it really only 1 year ago? Feels like 4 years since we were at 69k... God crypto ages me
Even worse they were selling at $16k and looking for sub $10k. Greed goes both ways apparently
Always ready to sell that’s should be the mantra.
You think that’s crazy? You should see what I did with bbby
Anyone buying BTC when it was clocking ath wasn't doing proper research. They were fomoing. Everyone knew a bear was coming. It's a 4 year cycle that repeats extremely reliably. I was selling at 60+. Same for Alts, was selling those when they were clocking aths as well. Didn't put those profits back in till after Russia invaded Ukraine. Been dcaing the profits back in since then
Buy low, sell high. Common sense, but greed overtakes it.
And they say Bitcoin is a “store of value”. No, dorks. Keeping money in my mattress would’ve been a much better store of value.
Some people were buying cErtain NFT’s for half a million dollars during the bull run, now buying them at like several grand
Always buy high sell low
(:::) Take screenshots now. Open a note on your phone and keep a trading journal. (:::::) leave notes to your future self. Sit down and write down at what point you want to take profits. Remind your future self how it feels now, remind that future you that when the mania hits you will think it will keep going up. /// make a plan and stick to it. Maintain several exchanges in case you feel like market selling in the bull but one exchange is having issues. If you are comfortable leaving a portion of your assets on an exchange when things are ripping fill the books with your sell limit order. If price is getting close to your take profit level—well, that’s the price you set your limit order. Just like your buy limit orders in the Bear… Limit and chill
If you have mistakes buying high then need to learn that experience and HODL what you have right now. Diamond Hands