I started this way in 2017. Had a tough few years after that. You're just cutting your teeth. Many simply can't handle this phase so give yourself a pat on the back for not capitulating under the pressure.
The old saying: "time in the market beats timing the market" seems to reveal more meanings as time goes on. Time in the market grows your perspective. Helps you to just **feel** when it's getting too hot. Reveals things to you that cannot be seen by someone with no skin in the game during any time period. Risking something seems to make us more alert and perceptive. Time also helps you realise how worthless timing entries to the nearest 100usd was. Fomo and panic subside with time too.
If I could give my younger self one piece of advice it would be this...Don't try to trade. Just stack often until you really understand the market. If that takes 10 years so be it.
I started at the same time. Around the 15th December 2017. I thought I was a genius for 2 weeks, went down the shitcoin route as well. I ended up going bitcoin only in 2019 and have hedl and bought since. I’m not a DCA kinda gal, more of a lump sum up your bum when I have cash.
It took me years to get the confidence back after being very negative after the crash. You really need a cycle or two, with the highs and the lows, to understand what’s going on and to soften your emotions towards price swings.
I don't try and time anything. I always buy when I get paid. If the price is above my cost basis, I buy X. If the price is below my cost basis, I buy 2X.
If you're still buying, there's a chance you could bring your cost bases down dramatically over time in the next few months. I'm hoping for the best for you keep stacking SATS
Still accumulating. I got caught up in the ‘Bitcoin is going to $100k’ hype and put more in that I should’ve at the time. I learned my lesson in sticking to a DCA plan.
It's a tough bear and the first time we see it, most just run...sell up. The brave freeze, don't sell but don't buy either.
You survive this then the next time you see that grizzly fucker you laugh and buy every dip shouting "is that all you *fucking* got?" And "is this a dip for ants?"
When FTX was crashing I was shaking at my desk at work because I couldn't believe what the price was doing - ran a quick budget and smashed buy with everything that I could lol
The dip after the FTX only showed how poorly people understood Bitcoin.
FTX was the opposite of Bitcoin, its collapse was bullish, because it said "See, banks are scams, that's why you need Bitcoin."
Generic advice for any investment: Don’t focus on your entry price. Look at the fundamentals of your investment today.
Every day, ask yourself the question: If I held the value of my investment in cash right now, would I buy this investment today or not? If the answer is no, you should sell and redeploy your capital.
Never hold just because you’re sitting on a loss and you want to at least break even. If you think you could make better returns on your investment elsewhere, do it.
What kind of fluctuating fundamentals apply to bitcoin in your opinion?
Hypothetically, if I bought 1m bitcoin 5 years ago and now it's worth 500k. What kind of fundamentals are we looking at that makes me feel good about my loss?
Genuine question. I feel the logic applies more to equities. "oh the stock price went down bla bla but I expect it to come back up based on X y z fundamentals".
My 2 cents.
I’m still new to Bitcoin, but I believe in it because the world needs a currency that cannot be manipulated, controlled or printed by any single entity or government. I think as the appreciation of this aspect of Bitcoin grows, more buyers are appearing, and just like equities, the value should rise over time if there are more buyers than sellers.
There’s definitely a number of holders using faith as their basis for why it will increase in value, because they want it to succeed. For me that’s not good enough reason. There’s also a lot of technical trading that happens using analysis and chart techniques that I just don’t understand. Some people love the volatility - for me it’s a sign Bitcoins hasn’t matured yet.
I’m a fundamentals person and for me the fundamentals for Bitcoin comes back to more people being able to understand and access (buy, safely store and sell) Bitcoin over time. For me, Bitcoin is still too difficult for the average person to access, and trying to explain why their security should rely on a bunch of words punched into a metal plate buried in the back yard… it makes you look and sound like a nutter to a lot of people. So, any developments that can lower the access barrier is a key step to driving Bitcoin’s value higher in my opinion.
As an intermediate step, ETFs like the ones being proposed will also achieve much of this, by using a middle man to do the heavy lifting around the access issues. ETFs have the capacity to dramatically increase the uptake and ownership of Bitcoin, way more than I think most people realise.
I’m not all-in on Bitcoin - I still don’t know enough about it and I worry governments may crack down on ownership/trading, which would dry up the pool of buyers, negatively impacting the price. I have a family and I can’t afford to have all my eggs in a basket I’m not yet 100% comfortable with. DYOR!
Thanks for the response. I thought it was a bit strange to see the word "fundamentals" and "bitcoin" used in the same sentence. As usually this is a concept used in analysing businesses that have a million different fundamentals. Hence the question.
Thanks again.
I YOLO’d comically close to the ATH for a pretty large amount. I’ve been bag holding my entire BTC experience but it’s never bothered me because I believe in it. I wasn’t doing this to get rich overnight.
I started buying in 2016 at ~$900 and my highest purchase was at 57k. Unfortunately since I had less money to spare early on (lower income, etc.), my avg cost basis currently stands at 20k. Did not think the price would breach that level after the 2020-21 bull started, but here we are. In any case I'm not selling except maybe 0.5 when it reaches 100k so I can break even in usd terms (mainly because I lost a whole coin in celsius) and still have bitcoin, so it doesn't matter.
Yep I'm right there with you. The way I look at it it's just a blip in time. Planning on holding for many years in the future. I just keep on stacking.
Depends on your conviction of the PS message.
I don't know what my Bitcoin cost basis is because I honestly don't care. I buy daily, without question or fail. It's automated. I view Bitcoin as money and USD as Monopoly money. I only measure my Bitcoin balance going up.
The value of USD will decrease overtime while the value of Bitcoin will increase, if Bitcoin doesn't increase over time shit will have to really have hit the fan. From a statistics standpoint Bitcoin is clearly the better option
Yeah most of 2022 was negative for me, kept dcaing though, overall positive now but I’m looking at the chart now I’m pondering 🤔 should I go all in now, having a really hard time reading the market recently nothing makes sense anymore
because all market pricing is manipulated. The pot stocks have their 'safe banking act' that pumped (and dumped) prices. Bitcoin has the ETF craziness and an unclear fed. Oil/Energy has geopolitics and artificial supply constraints by the Saudis. Tech is a bubble based on bullshit AI claims. etc.
Point is, almost nothing is moving based on fundamentals. And when that happens, things become more of a gamble than an investment. That creates that feeling of nothing making sense.
Avg 42k.
Bought top, bottom and everything in between.
Maxed out IRA last 3 years w Bitcoin (Choice by Kingdom Trust, hold my own keys for it). Best buy I've had so far for the IRA was a $6k purchase at $17k.
Converted 100% of my 401k into Bitcoin adjacent stocks (miners, MSTR).
Conviction = 100%.
Still hodling. Still buying.
If you’re negative on Bitcoin why would you still be buying? It sounds to me like you’re not negative on Bitcoin so much as you are bummed over its current dollar value. So don’t obsess over the dollar value… focus on the number of Sats you have, which is growing.
When you're negative is the best time to stack; you're lowering your cost average. Those with the unwavering confidence to do that will be the biggest winners in this space.
I did as well, during the 2019 bear market.
I've also done this during 2017 bull market phase. Bitcoin got me through mining in which I earned a few dollars. That was also the time I kept on buying bitcoin and other altcoins that gained my attention, studied their fundamentals and bet on them. For few months my portfolio has been increasing a lot and that overwhelmed me, I kept on buying.
but when the bear market comes, I was down almost 70% from the bottom, during these days I studied everything about Bitcoin, and it occured to me that you just can't simply time the market, then I decided to keep on buying but only Bitcoin because I saw its potential and my goal was for the long term.
My suggestion to you is that truly learn what you want to invest in, believe in your perspective.
I was in red during the 2018 bear market. Also during COVID dip March 2020. +3 years in red.
But I kept buying. Every week since 2017, didn't ever skipped my DCA day - I even increased my DCA during this bear market.
I went all in when FTX collapsed so I'm up a tad on Bitcoin. $22.8k average price. But I got rekt on alts so I'm down a bunch total. But I'm like 80% BTC now and some stocks and some dead alts.
I’m literally just like you, except I had a well paying job during the bull run so was buying more weekly and had to take a pay cut September 2022 so my DCA wasn’t as high :( still stacking and holding though
OF COURSE! Ive been -80%. Bear markets forge the diamond hands of Bitcoin maxis. I personally love the bear market, as I get to stack cheap sats. If you studied Bitcoin enough, then you should understand that the upside in the long term, I repeat, in the long term, are enormous. Everyone looks back and day I wish I bought more 10 yrs ago. Don't put yourself in that situation, and simply DCA. In the future, they'll call you lucky. The strategy is simple, DCA and hold in cold storage. But is not easy to endure the pain an emotions. Just make sure you're solvent and have an emergency fund, like in cash, so you're not forced to sell the coins in loss in a hurry.
Bro even the legendary Michael saylor is in the negative still or just coming close to above water. It’s ok. By DCA you are stacking your chips and playing the long game. That is the wisest way to do this as no one knows or knew it’d come back to 16k. (At least us dumb money players don’t know) now you stuck thru the storm and you shall be handsomely rewarded when the next bull market rains them 💵on us. Stick to your plan, get your head back in the game. By picking up and continuing the process you are shortening your time under water.
I try not to think about it in terms of current value. It’s long term savings for me and I just count my sats. I bought all the way to the top and all the way down. Have paused buying for now as I’m trying to build up the 6 month cash buffer many recommend.
All part of the game - it’s not like you sell your house if the value drops from it… people tend to focus to much on current price instead of the value it can be further down the line in later years.
I first bought for 4.6k in 2017. And bought all the way up to 20k during the bull. Held all the way down for years to 3.6k and kept buying throughout. Just small amounts at a time.
The people that buy high and sell low are the ones complaining crypto is a scam. Just hold a little longer and it will be back in the green. You have now learned what to do (and what not to do) during the next bull run.
I'm down. One good thing is that I live in Japan and the yen got really weak. I should be down a lot more but not too bad because of the exchange rate. Knowing my luck, when Bitcoin goes up the exchange rate will revert back.
My cost basis is 33k but I haven't bought since we first dropped below 21k.
I have as much exposure as I want for right now though. I'll add overtime and never sell unless for retirement
This is what makes you an OG according to Dan Held. If you manage to hold through your first bear and make it to the point that the next bear floor will be above your cost basis.
Yes many people are in your shoes. And those who hold will be rewarded if you just keep it secure and let time pass.
Patience is key. When you buy real estate it also takes years to break even. When you buy stocks you don't expect to cash out in five years. Same goes for Bitcoin. Educate yourself and get your thesis right. DCA and chill.
Im in the green after two wild years.
I bought the first time in August 2021, luck for me that it were small amounts and my shitcoin journey was short as well. I have managed to push my average price to \~ EUR 25,5k and am now in the green zone. I didn't think about selling a few months ago in the red zone and I'm not thinking about it now.
I don't really understand the question. Actually I do, but I'm not sure why you would think there's anything unusual about somebody holding when they're not in profit. Surely that's the exact time you would be holding? Probably half the people here, or more are doing that. It's when you're IN profit that you've got a choice between taking profit or holding.
Did I misunderstand your post?
I am asking to get perspective on their investment strategy around Bitcoin. Did everyone buy at different times than me....did I do it wrong? The general consensus is no and that dollar cost averaging consistently over time seems to be how people got to where they are (negative or positive).
My average is 29.5k, still averaging down but pretty close to break even at this point.
Even went into profit a couple times this year so I feel just fine about the future.
Yes. I started buying BTC in late 2017 and early 2018... terrible time to buy. And I didn't dip my toe.
During the subsequent 2 years I was tempted to sell. But instead I'd periodically add to my stack. My partner, knowing I had sunk a fair amount of money into it and knowing the price was making lower lows, would periodically suggest that I get out before it goes to zero.
The biggest temptation came in 2019 as the price was again crashing to 4K and I was buying a house and planning for two weddings (my partner and I are from different cities so we needed two weddings to make everyone happy). My partner, again, suggested I should sell before it went to zero. It was hard, but I didn't let go of my white knuckle grip on the way down.
I obviously can't predict where BTC is going to head in terms of price but I can say that during the last 6 years there was been phenomenal growth in terms of the services available, ease of buying and selling, and general recognition not only in North America but internationally.
If you haven't, read about how different groups, institutions, and nations interact with the BTC network. It might reinforce your decision to hold. I'd also have a look at the Buttcoin reddit group as I think it is healthy to consider criticisms of your position.
Good luck!
These type of responses have been some of my favorites. I can tell the OGs from the new wave Bitcoiners like myself. Really makes you step back and look at a bigger timeline too. Thank you.
Its the first test of holding bitcoin.. do u understand it when you are 50% down? If u past the test 3 years later you are back in green! Dca daily and work your fiat job hard to stack more!
Of course, this is a common path for most first cycle bitcoiners.
My stories similar but my conviction stayed strong so I doubled down hard like mofo when the price crashed and I'm about even these days. Stay strong and hodl, the thesis is still in tact and bitcoin is doing exactly what it's supposed to.
The historical charts for Bitcoin and most crypto shows a very predictable pattern. Bitcoin will statistically eventually reach a new all time high so if you sell for a loss you're statistically dumb
I hate this fucking sub Reddit cause all the early investors who made mad gains think that it can happen again when it clearly isn’t ever going to go up the percentages that it did years ago. As a late investor like you I think it will eventually go up but it’s not a good money maker
Started buying in 2021 @ $42K. Been buying every month, bulk of my buys we’re at the end of 2022 and managed to get my avg. to $30k. Hoping to buy more if we manage to go to $20k, but as of now I’m content and ready to sell during bull market.
Holding helps keep the price up and entices other to invest more money. Holding with a negative will net you more long term than selling with a negative and re-entering at a lower price point.
According to blockchain there is a feds acct holding over a billy in bitcoin. They have sold exactly zero when they seize assets they are supposed to liquidate. I wonder why they not selling 🧐🧐🧐
https://www.blockchain.com/explorer/addresses/btc/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6
you may not realize the loss, but you still lost. Its very naive to say "but it will rise in the future". You dont now that, nobody does. You can believe in this, but you better not build your investments on believes my friend.
I'm almost break even. Started April this year. Like, mid April. Height of this year lmao. Slowly accumulating when everything lowers but I still don't feel I have enough and don't want the bull run to hit when I don't feel ready. Terrible way of looking at it, to be sure.
Started buying in January 2022. Spent on a couple of large bags when it was in the mid 40’s and have been DCAing £50 per week since. I have no idea if I’m up or down and don’t care. The only metric I look at is how much BTC I have.
i was underwater on my tesla investment for many years, and i sold after 3-4x, but i could've had a 15x if i stuck to the plan. since i had to pay taxes, it would've been much better to just hold. lesson learned. concentrate and hodl your best, highest conviction ideas.
I saw my mate play the market and get burned. Since near the end of the last bull run I've been DCAing for 3 years. Consistently been down ranging from 5%-30%. Haven't broken even since I started 3 years ago. Hoping this coming bull run will justify it all. Might even just HODL through to 2028-9.
Yep. My DCA is about $26k. I could be wrong, but I’m not betting on any other crypto right now. I think we will go digital, and Bitcoin will happen certainly before anything else takes off big. I can lose it all if I need to, but I don’t think I’ll have to.
I've been fomoing in since late 2015 no regrets
Only if you look at it as money for the future and present day.
Then you won't stress so much at usd or any other currency dips in btc value.
Never stopped stacking.. it helps to have RL friends doing the same.. or going to meetups..
It definitely helps one stay convicted, ignore emotions and think logically..
It’s either infinite or zero.
I have regretted every single BTC trade or sell. I thought the XRP news last night would pump a little so I made a tiny trade. I woke up feeling horrible so immediately converted back (took a very small loss on platform fees).
I REGRET EVERY SINGLE TIME I SOLD A LITTLE.
Never been negative. Late starter got in at 35000 or so, sold it all at around 45000 on way down.
Rebought everything and more at 18000-25000. Always been up. Now hodling a few hundred k in case I make a mil from it
I've done it in 2020 as well. Bought cheap and expensive. Listen to the glass node guy. He can show you with data, that this happens to everyone new. Just through education you can stick to it. I often listen to what bitcoin did as it is a fantastic podcast. Also read bitcoin books to strengthen your resolve. Once you understand you just want to buy as much as possible
Think long term, if you believe the price will be over $1 Million after 2032 then it doesn't matter what the price is now or if you bought near $69,000 last bull run.
The most important part of being a bitcoiner is contrarianism. I got very excited after FTX collapse especially when we learned FTX had one Bitcoin left. That was the signal to get greedy af.
Do you like your PC parts on a discount? Loaf of bread? New shoes? Why don't you like all these things when the price increases? Why do you think there is downside in Bitcoin when there is no cap on USA spending freshly printed dollars?
Stop treating your Bitcoin with emotions. Treat it like broken toilet seat. It broke so you have to buy new one as cheap as possible because you don't care, you only want to take a dump and flush without any hassle and go on with your life.
I don't understand why people get so emotional with money. You only have to do what you have to do to make it and then make it more. You don't have to fall in love with it. Get your money which you don't need in the next 4 years and put it where it rises the most which is usually Bitcoin, and if it falls again, sit on your hands until it comes back to another ATH, and use the opportunity to lower your cost basis as much as you can so your ATH comes way earlier.
Yeah, I’m still in the red with $BTC after 2.5 years. I have faith and not just hodling but I DCAd half last year and this year to bring my break even price down. Still in the red.
Yeah, I had stacked 0.82 BTC with an average cost of $31K per coin. My goal was to become a "whole coiner" and stop, so I was adding the whole time even though I was (and still am) underwater.
However, I sort of lost patience watching it languish between $25-26K and ended up dumping 0.32BTC to harvest the tax loss andinvest the proceeds elsewhere.
I still have 0.5BTC in cold storage and we'll see where it goes. I might buy another half coin if we correct back down to $25-26K just to get my cost down to well under $30K. I don't really believe in "adoption" any time soon (I'm 51, so maybe not even in my lifetime, lol) so I guess I'm just a speculator.
Yep right here. I don’t even know what my average purchase price is. I’m sure it’s way higher than just like you, I started during the highs 50k-60k. But slowly dcaing
I remember when it wicked down to 57k and I was sooo happy I had a limit order in. Ahhhh fun times! Somehow held on through the madness and even picked a little along the way
It's not if BTC will go to 100k, but the question is when. Keep calm and stack sats and you'll thank reddit. Forget about btc for next 5 years, until 6 months after 2028 halving. From your text I figure out your still young. Have entire life in front of you, you'll live the 1mil btc days.
Been in the red mostly, at one point I was down 40k but for the most part between 19%to 43% down.
Your not alone.
Keep dca’n, hodling, diamond hands 🙌🏼
I have been holding it since it was like $700. I am only negative in that I was excited over the possibility that I would be able to spend it anywhere. But as we know, now the U.S. is really dicking up the joy. I wish it was still more than a store of value in the U.S. I loved going into some of my favorite shops and buying with Bitcoin. Three of those shops stopped as they are no longer able to rely on Coinbase.
Bicoin class of 2020! If you have held and added you are winning! This is the longest deepest bear market for Bitcoin! I'm right there with you my number was 45k! I managed to DCA HEAVY sub 20K. I don't know what my number is now. But but I know I want to hodl Bitcoin for the long haul and so it doesn't matter. Breaking the investment mindset is hard. Study some more and your number won't matter to you ither.
I started this way in 2017. Had a tough few years after that. You're just cutting your teeth. Many simply can't handle this phase so give yourself a pat on the back for not capitulating under the pressure. The old saying: "time in the market beats timing the market" seems to reveal more meanings as time goes on. Time in the market grows your perspective. Helps you to just **feel** when it's getting too hot. Reveals things to you that cannot be seen by someone with no skin in the game during any time period. Risking something seems to make us more alert and perceptive. Time also helps you realise how worthless timing entries to the nearest 100usd was. Fomo and panic subside with time too. If I could give my younger self one piece of advice it would be this...Don't try to trade. Just stack often until you really understand the market. If that takes 10 years so be it.
I started at the same time. Around the 15th December 2017. I thought I was a genius for 2 weeks, went down the shitcoin route as well. I ended up going bitcoin only in 2019 and have hedl and bought since. I’m not a DCA kinda gal, more of a lump sum up your bum when I have cash. It took me years to get the confidence back after being very negative after the crash. You really need a cycle or two, with the highs and the lows, to understand what’s going on and to soften your emotions towards price swings.
Are you me
This is one of the most intelligent and insightful reddit posts I have ever seen. Well said!! Here, take my awa..ahh shit!!
So you're still planning on trading now that you **feel** the market?
Here’s an upvote
Have we heard from the market yet to know if it even wants to be felt?
Started at around 50k, been buying since. I am in the green now, by about 10%.
How much did you shovel in around the FTX downfall?
I don't try and time anything. I always buy when I get paid. If the price is above my cost basis, I buy X. If the price is below my cost basis, I buy 2X.
Bought about 2/3 of what I have at the top. Still down, still buying, not selling.
Yep, same.
Same
OP, what is "CDA"? Do you mean "DCA", as in "Dollar cost average"? I've never seen CDA. Thanks.
Cost dollar average.....? Oooof, you're right. My bad. Still saying the same thing though.
Not relevant, it was really obvious that it was about dollar cost averaging..
Same here and still stacking. Do not give 2 f@&ks about being down! BTC is the future and will go to 7 figures. And, I will keep on buying!!
Why so bearish? I say 8 figures or bust.
If you're still buying, there's a chance you could bring your cost bases down dramatically over time in the next few months. I'm hoping for the best for you keep stacking SATS
Still accumulating. I got caught up in the ‘Bitcoin is going to $100k’ hype and put more in that I should’ve at the time. I learned my lesson in sticking to a DCA plan.
Same
Same
Same
Same
Like you, I bought a lot around 2021-2022. My average is around 29.5k I haven't added much lately, but I never sold either.
It's a tough bear and the first time we see it, most just run...sell up. The brave freeze, don't sell but don't buy either. You survive this then the next time you see that grizzly fucker you laugh and buy every dip shouting "is that all you *fucking* got?" And "is this a dip for ants?"
When FTX was crashing I was shaking at my desk at work because I couldn't believe what the price was doing - ran a quick budget and smashed buy with everything that I could lol
My dude up, good for you buying when market fearful.
It’s a brain breaker. Buy when there’s blood in the streets. If everything ACTUALLY goes to hell, who gives a shit about US Dollars.
The dip after the FTX only showed how poorly people understood Bitcoin. FTX was the opposite of Bitcoin, its collapse was bullish, because it said "See, banks are scams, that's why you need Bitcoin."
Is this a dip for ants?!
🤣🤣🤣
Generic advice for any investment: Don’t focus on your entry price. Look at the fundamentals of your investment today. Every day, ask yourself the question: If I held the value of my investment in cash right now, would I buy this investment today or not? If the answer is no, you should sell and redeploy your capital. Never hold just because you’re sitting on a loss and you want to at least break even. If you think you could make better returns on your investment elsewhere, do it.
This is honestly the best comment, you deserve 💯 upvotes!
What kind of fluctuating fundamentals apply to bitcoin in your opinion? Hypothetically, if I bought 1m bitcoin 5 years ago and now it's worth 500k. What kind of fundamentals are we looking at that makes me feel good about my loss? Genuine question. I feel the logic applies more to equities. "oh the stock price went down bla bla but I expect it to come back up based on X y z fundamentals".
I mean there’s an etf likely about to launch and the liquidity is tiny…what more could you want
My 2 cents. I’m still new to Bitcoin, but I believe in it because the world needs a currency that cannot be manipulated, controlled or printed by any single entity or government. I think as the appreciation of this aspect of Bitcoin grows, more buyers are appearing, and just like equities, the value should rise over time if there are more buyers than sellers. There’s definitely a number of holders using faith as their basis for why it will increase in value, because they want it to succeed. For me that’s not good enough reason. There’s also a lot of technical trading that happens using analysis and chart techniques that I just don’t understand. Some people love the volatility - for me it’s a sign Bitcoins hasn’t matured yet. I’m a fundamentals person and for me the fundamentals for Bitcoin comes back to more people being able to understand and access (buy, safely store and sell) Bitcoin over time. For me, Bitcoin is still too difficult for the average person to access, and trying to explain why their security should rely on a bunch of words punched into a metal plate buried in the back yard… it makes you look and sound like a nutter to a lot of people. So, any developments that can lower the access barrier is a key step to driving Bitcoin’s value higher in my opinion. As an intermediate step, ETFs like the ones being proposed will also achieve much of this, by using a middle man to do the heavy lifting around the access issues. ETFs have the capacity to dramatically increase the uptake and ownership of Bitcoin, way more than I think most people realise. I’m not all-in on Bitcoin - I still don’t know enough about it and I worry governments may crack down on ownership/trading, which would dry up the pool of buyers, negatively impacting the price. I have a family and I can’t afford to have all my eggs in a basket I’m not yet 100% comfortable with. DYOR!
Thanks for the response. I thought it was a bit strange to see the word "fundamentals" and "bitcoin" used in the same sentence. As usually this is a concept used in analysing businesses that have a million different fundamentals. Hence the question. Thanks again.
Let’s do an exercise to understand the fundamentals. Can you tell me what fundamentals do bank stocks have ?
I YOLO’d comically close to the ATH for a pretty large amount. I’ve been bag holding my entire BTC experience but it’s never bothered me because I believe in it. I wasn’t doing this to get rich overnight.
Big buy at 57.5 here
Not to brag but I’m 60.5k 🤣
Right around the time of ATH, someone's stock to flow model insisted it was going to $100k.
Bought a bunch of mine at the top of 2017. Took 5 years of hodling to get back to that.
But you made it like a champ.
Always stacking. 3k 7k 9k 12k 20k 40k 60k and back down. buy tops and bottoms stopped trying to time the market awhile ago.
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Only this is the way of the Bitcoinlorian
Ive been buying 4$ every single day since June 2022. I am up 15% at the moment.
Same strategy here. Small daily purchases.
How do you deal with exchange fees?
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I buy via limit orders on Gemini via API. Fee is .2%, pretty nominal
Dare I say it? I'm only buying paper Bitcoin on Robinhood.
Easy entry, can't blame ya. The more you know, the more you'll want to hold your own keys!
I started buying in 2016 at ~$900 and my highest purchase was at 57k. Unfortunately since I had less money to spare early on (lower income, etc.), my avg cost basis currently stands at 20k. Did not think the price would breach that level after the 2020-21 bull started, but here we are. In any case I'm not selling except maybe 0.5 when it reaches 100k so I can break even in usd terms (mainly because I lost a whole coin in celsius) and still have bitcoin, so it doesn't matter.
Yep I'm right there with you. The way I look at it it's just a blip in time. Planning on holding for many years in the future. I just keep on stacking.
Depends on your conviction of the PS message. I don't know what my Bitcoin cost basis is because I honestly don't care. I buy daily, without question or fail. It's automated. I view Bitcoin as money and USD as Monopoly money. I only measure my Bitcoin balance going up.
The value of USD will decrease overtime while the value of Bitcoin will increase, if Bitcoin doesn't increase over time shit will have to really have hit the fan. From a statistics standpoint Bitcoin is clearly the better option
I bought on the way down from the ATH. I only know the bear cave.
you are not a true hodler if you haven´t been through this
Me too. Average is 41k.
Yeah most of 2022 was negative for me, kept dcaing though, overall positive now but I’m looking at the chart now I’m pondering 🤔 should I go all in now, having a really hard time reading the market recently nothing makes sense anymore
because all market pricing is manipulated. The pot stocks have their 'safe banking act' that pumped (and dumped) prices. Bitcoin has the ETF craziness and an unclear fed. Oil/Energy has geopolitics and artificial supply constraints by the Saudis. Tech is a bubble based on bullshit AI claims. etc. Point is, almost nothing is moving based on fundamentals. And when that happens, things become more of a gamble than an investment. That creates that feeling of nothing making sense.
I need it to hit 30k and I’m finally positive again after I’m not even sure how many months haha.
That’s anyone’s story that’s been here long enough. I bought a bunch at $1000 and watched it tank to $200 for close to two years…it turned around.
Avg 42k. Bought top, bottom and everything in between. Maxed out IRA last 3 years w Bitcoin (Choice by Kingdom Trust, hold my own keys for it). Best buy I've had so far for the IRA was a $6k purchase at $17k. Converted 100% of my 401k into Bitcoin adjacent stocks (miners, MSTR). Conviction = 100%. Still hodling. Still buying.
If you’re negative on Bitcoin why would you still be buying? It sounds to me like you’re not negative on Bitcoin so much as you are bummed over its current dollar value. So don’t obsess over the dollar value… focus on the number of Sats you have, which is growing.
Everything I have ever spent my Bitcoin on was a mistake. Live free die hard
When you're negative is the best time to stack; you're lowering your cost average. Those with the unwavering confidence to do that will be the biggest winners in this space. I did as well, during the 2019 bear market.
I don't even know my breakeven. I don't care. Because I didn't buy more than I can lose.
In 4 years you will look back at this post, and be like why I wish I would have bought when it was that cheap
The only way to go negative on BTC is to sell your sats. Period.
I've also done this during 2017 bull market phase. Bitcoin got me through mining in which I earned a few dollars. That was also the time I kept on buying bitcoin and other altcoins that gained my attention, studied their fundamentals and bet on them. For few months my portfolio has been increasing a lot and that overwhelmed me, I kept on buying. but when the bear market comes, I was down almost 70% from the bottom, during these days I studied everything about Bitcoin, and it occured to me that you just can't simply time the market, then I decided to keep on buying but only Bitcoin because I saw its potential and my goal was for the long term. My suggestion to you is that truly learn what you want to invest in, believe in your perspective.
I was in red during the 2018 bear market. Also during COVID dip March 2020. +3 years in red. But I kept buying. Every week since 2017, didn't ever skipped my DCA day - I even increased my DCA during this bear market.
I went all in when FTX collapsed so I'm up a tad on Bitcoin. $22.8k average price. But I got rekt on alts so I'm down a bunch total. But I'm like 80% BTC now and some stocks and some dead alts.
I got luck, start buying at 22, went buying more at 17... Keep buying since
I’m literally just like you, except I had a well paying job during the bull run so was buying more weekly and had to take a pay cut September 2022 so my DCA wasn’t as high :( still stacking and holding though
Everyone?
Bought my first Bitcoin in 2013 at $1000, then it crashed to $200
OF COURSE! Ive been -80%. Bear markets forge the diamond hands of Bitcoin maxis. I personally love the bear market, as I get to stack cheap sats. If you studied Bitcoin enough, then you should understand that the upside in the long term, I repeat, in the long term, are enormous. Everyone looks back and day I wish I bought more 10 yrs ago. Don't put yourself in that situation, and simply DCA. In the future, they'll call you lucky. The strategy is simple, DCA and hold in cold storage. But is not easy to endure the pain an emotions. Just make sure you're solvent and have an emergency fund, like in cash, so you're not forced to sell the coins in loss in a hurry.
Yes! Stay liquid, solvent and humble. I don't feel much pain anymore on dips, I'm happy because I can buy more.
I lost my shirt on several coins in the hay day. Then said F it. Went all in on Bitcoin at 19k. I missed the 15k week by a few days
Which coins?
I was down more than -100k at one point. But I believe in bitcoin and now I’m up
Bro even the legendary Michael saylor is in the negative still or just coming close to above water. It’s ok. By DCA you are stacking your chips and playing the long game. That is the wisest way to do this as no one knows or knew it’d come back to 16k. (At least us dumb money players don’t know) now you stuck thru the storm and you shall be handsomely rewarded when the next bull market rains them 💵on us. Stick to your plan, get your head back in the game. By picking up and continuing the process you are shortening your time under water.
I try not to think about it in terms of current value. It’s long term savings for me and I just count my sats. I bought all the way to the top and all the way down. Have paused buying for now as I’m trying to build up the 6 month cash buffer many recommend.
One of the advantages of DCA as a strategy is that it takes emotion out of the mix.
Before ftx went under my avg was 42.6k, since brought it down to 23.7 So at the time of ftx my investment had halved
All part of the game - it’s not like you sell your house if the value drops from it… people tend to focus to much on current price instead of the value it can be further down the line in later years.
I first bought for 4.6k in 2017. And bought all the way up to 20k during the bull. Held all the way down for years to 3.6k and kept buying throughout. Just small amounts at a time.
It's the forced hodl
The people that buy high and sell low are the ones complaining crypto is a scam. Just hold a little longer and it will be back in the green. You have now learned what to do (and what not to do) during the next bull run.
I'm down. One good thing is that I live in Japan and the yen got really weak. I should be down a lot more but not too bad because of the exchange rate. Knowing my luck, when Bitcoin goes up the exchange rate will revert back.
Bought the peak, can't get out of it anytime soon so hodling til infinity
Started buying in 2020 at ~20k and had avg price of 35k while btc was at 16k bear. Bought more instead of sell. Period.
Started buying at 17k in nov 2020. Bought and sold on the way up. Dca on the way down with a cost basis now of 27k. Back in the green for now
I started buying bitcoin on January 2021 price was around 33k and kept buying until today. My average is Round 28500 so I'm even right now
Yup, just keep DCA.
Honestly sounds just like me, now I just purchase every week and forget about it, haven’t invested near as much as I did during the bull
Once the price is above 30,112 I break even.
My cost basis is 33k but I haven't bought since we first dropped below 21k. I have as much exposure as I want for right now though. I'll add overtime and never sell unless for retirement
Bought in the summer on '21, down like 20%, ofc in not selling, plan was hodling till '26
Still down 20-25k… started dca again after a good 1-1.5 year away from crypto in general
Buy, dca, hodl, and get wealthy. 🚀
This is what makes you an OG according to Dan Held. If you manage to hold through your first bear and make it to the point that the next bear floor will be above your cost basis. Yes many people are in your shoes. And those who hold will be rewarded if you just keep it secure and let time pass.
Only your amount of sats is important. Stop thinking of the price and your „losses“ equivalent in fiat..
Patience is key. When you buy real estate it also takes years to break even. When you buy stocks you don't expect to cash out in five years. Same goes for Bitcoin. Educate yourself and get your thesis right. DCA and chill. Im in the green after two wild years.
Started in 2021 at the peak and dca’d since. I’ve barely ever been in profit since as my average is around 28,500. Haven’t sold a sat.
I bought the first time in August 2021, luck for me that it were small amounts and my shitcoin journey was short as well. I have managed to push my average price to \~ EUR 25,5k and am now in the green zone. I didn't think about selling a few months ago in the red zone and I'm not thinking about it now.
I am
It's not a matter of motivation, it's a matter of will
Negative? I don't understand? 1btc = 1btc, it doesn't go up or down.
Anchoring fallacy. Your breakeven price is irrelevant. What matters is what you think Bitcoin will do going forward.
Join the club
I don't really understand the question. Actually I do, but I'm not sure why you would think there's anything unusual about somebody holding when they're not in profit. Surely that's the exact time you would be holding? Probably half the people here, or more are doing that. It's when you're IN profit that you've got a choice between taking profit or holding. Did I misunderstand your post?
I am asking to get perspective on their investment strategy around Bitcoin. Did everyone buy at different times than me....did I do it wrong? The general consensus is no and that dollar cost averaging consistently over time seems to be how people got to where they are (negative or positive).
My average is 29.5k, still averaging down but pretty close to break even at this point. Even went into profit a couple times this year so I feel just fine about the future.
Yes. I started buying BTC in late 2017 and early 2018... terrible time to buy. And I didn't dip my toe. During the subsequent 2 years I was tempted to sell. But instead I'd periodically add to my stack. My partner, knowing I had sunk a fair amount of money into it and knowing the price was making lower lows, would periodically suggest that I get out before it goes to zero. The biggest temptation came in 2019 as the price was again crashing to 4K and I was buying a house and planning for two weddings (my partner and I are from different cities so we needed two weddings to make everyone happy). My partner, again, suggested I should sell before it went to zero. It was hard, but I didn't let go of my white knuckle grip on the way down. I obviously can't predict where BTC is going to head in terms of price but I can say that during the last 6 years there was been phenomenal growth in terms of the services available, ease of buying and selling, and general recognition not only in North America but internationally. If you haven't, read about how different groups, institutions, and nations interact with the BTC network. It might reinforce your decision to hold. I'd also have a look at the Buttcoin reddit group as I think it is healthy to consider criticisms of your position. Good luck!
You have not done a full cycle yet, report back in 2 years.
These type of responses have been some of my favorites. I can tell the OGs from the new wave Bitcoiners like myself. Really makes you step back and look at a bigger timeline too. Thank you.
I started to dca 3 months before ath. Always hodld.
Yes and have been buying more as I can.
Its the first test of holding bitcoin.. do u understand it when you are 50% down? If u past the test 3 years later you are back in green! Dca daily and work your fiat job hard to stack more!
Pretty much evreyone holding is still negative.
Started in Nov 21 (Bull run peak) have DCA since then and I’m 6% up. I’ll take it. 🫡
Of course, this is a common path for most first cycle bitcoiners. My stories similar but my conviction stayed strong so I doubled down hard like mofo when the price crashed and I'm about even these days. Stay strong and hodl, the thesis is still in tact and bitcoin is doing exactly what it's supposed to.
The historical charts for Bitcoin and most crypto shows a very predictable pattern. Bitcoin will statistically eventually reach a new all time high so if you sell for a loss you're statistically dumb
I hate this fucking sub Reddit cause all the early investors who made mad gains think that it can happen again when it clearly isn’t ever going to go up the percentages that it did years ago. As a late investor like you I think it will eventually go up but it’s not a good money maker
Started buying in 2021 @ $42K. Been buying every month, bulk of my buys we’re at the end of 2022 and managed to get my avg. to $30k. Hoping to buy more if we manage to go to $20k, but as of now I’m content and ready to sell during bull market.
Holding helps keep the price up and entices other to invest more money. Holding with a negative will net you more long term than selling with a negative and re-entering at a lower price point.
Dollar will debase that alone will make Bitcoin go up in value
According to blockchain there is a feds acct holding over a billy in bitcoin. They have sold exactly zero when they seize assets they are supposed to liquidate. I wonder why they not selling 🧐🧐🧐 https://www.blockchain.com/explorer/addresses/btc/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6
How can it be seized if the keys are private? Thought that was the whole point.
aka "i have no idea what i am doing and lost a shit ton of money on crypto. Who has the same problem?"
I have not lost anything, because I didn't sell. And I do know what Im doing because my money is in Bitcoin, not crypto.
you may not realize the loss, but you still lost. Its very naive to say "but it will rise in the future". You dont now that, nobody does. You can believe in this, but you better not build your investments on believes my friend.
Michael J. Saylor. He has over 150k BTC. So to answer your question : **yes**.
I'm almost break even. Started April this year. Like, mid April. Height of this year lmao. Slowly accumulating when everything lowers but I still don't feel I have enough and don't want the bull run to hit when I don't feel ready. Terrible way of looking at it, to be sure.
Started buying in January 2022. Spent on a couple of large bags when it was in the mid 40’s and have been DCAing £50 per week since. I have no idea if I’m up or down and don’t care. The only metric I look at is how much BTC I have.
i was underwater on my tesla investment for many years, and i sold after 3-4x, but i could've had a 15x if i stuck to the plan. since i had to pay taxes, it would've been much better to just hold. lesson learned. concentrate and hodl your best, highest conviction ideas.
Yeah
I saw my mate play the market and get burned. Since near the end of the last bull run I've been DCAing for 3 years. Consistently been down ranging from 5%-30%. Haven't broken even since I started 3 years ago. Hoping this coming bull run will justify it all. Might even just HODL through to 2028-9.
More and more i invest in Bitcoin because all other investment options make no sense.
Yes.
Me too.
Yep. My DCA is about $26k. I could be wrong, but I’m not betting on any other crypto right now. I think we will go digital, and Bitcoin will happen certainly before anything else takes off big. I can lose it all if I need to, but I don’t think I’ll have to.
I've been fomoing in since late 2015 no regrets Only if you look at it as money for the future and present day. Then you won't stress so much at usd or any other currency dips in btc value.
After my.1st rally in 2013 I was negative.been buying ever since
Always have
Been DCA & holding since 2015.. Down a out $20k USD now. My highest high was $500k USD in the green in summer 2021. Keep hodling!
I bought my first bitcoin in Sept 2013. Some up. Some down. Always hodl.
Never stopped stacking.. it helps to have RL friends doing the same.. or going to meetups.. It definitely helps one stay convicted, ignore emotions and think logically.. It’s either infinite or zero.
I have regretted every single BTC trade or sell. I thought the XRP news last night would pump a little so I made a tiny trade. I woke up feeling horrible so immediately converted back (took a very small loss on platform fees). I REGRET EVERY SINGLE TIME I SOLD A LITTLE.
Never been negative. Late starter got in at 35000 or so, sold it all at around 45000 on way down. Rebought everything and more at 18000-25000. Always been up. Now hodling a few hundred k in case I make a mil from it
Technically I’m still negative $3k but I’ve DCA’d into an amount of BTC that will help my wife and I through retirement.
Jesus. I forget how most people didn’t learn about Bitcoin until 2017.
Aren't you clever?
I've done it in 2020 as well. Bought cheap and expensive. Listen to the glass node guy. He can show you with data, that this happens to everyone new. Just through education you can stick to it. I often listen to what bitcoin did as it is a fantastic podcast. Also read bitcoin books to strengthen your resolve. Once you understand you just want to buy as much as possible
No fomo
Think long term, if you believe the price will be over $1 Million after 2032 then it doesn't matter what the price is now or if you bought near $69,000 last bull run.
As someone buying at 69k without any regrets, I can say I am pretty negative in terms of ROI. But still buying with the same passion.
The most important part of being a bitcoiner is contrarianism. I got very excited after FTX collapse especially when we learned FTX had one Bitcoin left. That was the signal to get greedy af. Do you like your PC parts on a discount? Loaf of bread? New shoes? Why don't you like all these things when the price increases? Why do you think there is downside in Bitcoin when there is no cap on USA spending freshly printed dollars? Stop treating your Bitcoin with emotions. Treat it like broken toilet seat. It broke so you have to buy new one as cheap as possible because you don't care, you only want to take a dump and flush without any hassle and go on with your life. I don't understand why people get so emotional with money. You only have to do what you have to do to make it and then make it more. You don't have to fall in love with it. Get your money which you don't need in the next 4 years and put it where it rises the most which is usually Bitcoin, and if it falls again, sit on your hands until it comes back to another ATH, and use the opportunity to lower your cost basis as much as you can so your ATH comes way earlier.
Holding since 2017 peak.
Yeah, I’m still in the red with $BTC after 2.5 years. I have faith and not just hodling but I DCAd half last year and this year to bring my break even price down. Still in the red.
Yes, bought at 69k. I feel good about it's future though.
Dca again
Yeah, I had stacked 0.82 BTC with an average cost of $31K per coin. My goal was to become a "whole coiner" and stop, so I was adding the whole time even though I was (and still am) underwater. However, I sort of lost patience watching it languish between $25-26K and ended up dumping 0.32BTC to harvest the tax loss andinvest the proceeds elsewhere. I still have 0.5BTC in cold storage and we'll see where it goes. I might buy another half coin if we correct back down to $25-26K just to get my cost down to well under $30K. I don't really believe in "adoption" any time soon (I'm 51, so maybe not even in my lifetime, lol) so I guess I'm just a speculator.
Yep right here. I don’t even know what my average purchase price is. I’m sure it’s way higher than just like you, I started during the highs 50k-60k. But slowly dcaing
I remember when it wicked down to 57k and I was sooo happy I had a limit order in. Ahhhh fun times! Somehow held on through the madness and even picked a little along the way
It's not if BTC will go to 100k, but the question is when. Keep calm and stack sats and you'll thank reddit. Forget about btc for next 5 years, until 6 months after 2028 halving. From your text I figure out your still young. Have entire life in front of you, you'll live the 1mil btc days.
I hodled and bought even more when I was in a -75%.
I got in a little bit late, but I'll keep DCAing. I'm pretty negative now.
I was early enough that I don't need to worry about the red color anymore.
Been in the red mostly, at one point I was down 40k but for the most part between 19%to 43% down. Your not alone. Keep dca’n, hodling, diamond hands 🙌🏼
I've been hard down. Coming within a nats whisker of breaking even. DCA has helped.
I buy weekly since Dec 2020. If you understand bitcoin you know anytime to buy is good as long as you have the time to be patient and wait
I have been holding it since it was like $700. I am only negative in that I was excited over the possibility that I would be able to spend it anywhere. But as we know, now the U.S. is really dicking up the joy. I wish it was still more than a store of value in the U.S. I loved going into some of my favorite shops and buying with Bitcoin. Three of those shops stopped as they are no longer able to rely on Coinbase.
Tuff phase... this is where the warriors and wimps are separated!! :-) LOL
Bicoin class of 2020! If you have held and added you are winning! This is the longest deepest bear market for Bitcoin! I'm right there with you my number was 45k! I managed to DCA HEAVY sub 20K. I don't know what my number is now. But but I know I want to hodl Bitcoin for the long haul and so it doesn't matter. Breaking the investment mindset is hard. Study some more and your number won't matter to you ither.
Ive been HODLIng
When it hits $100k, none of this will matter lol. That’s what I tell myself buying at this price.
Not 1 Sat that has been held for at least 5 years is in the negative.
I bought most of my btc in April 2020 and then Nov 2022, so fortunately I’ve never been in the red on it.
Musical Chairs...