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Any tips or suggestions for those who lost many coins?

Discussion in 'General Discussion' started by mandisa, Aug 11, 2018.

  1. mandisa

    mandisa Contributor

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    I heard that during that last dip of bitcoin ( 7k$ ) and other alts, many bitcoin investor lost so much because of panic selling thinking that they should cut their losses. Some wants to start over again with the money they got but I heard that some became really depressed and are now emotionally unstable. ( Not all ).

    Any suggestion/good tips for them? Also, what we should do to handle these kinds of situations?
    I am not currently an investor but I am looking to put some amount for bitcoin and hold it.
     
  2. MoonWalk

    MoonWalk Scholar

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    HODL and check back in couple years...

    never invest more than you can afford to lose.
     
    GuardianofCrypto likes this.
  3. GuardianofCrypto

    GuardianofCrypto Master of Trolls Staff Member Super Admin

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    There are several methods you can try:
    1. Averaging down - buying more at a lower price to average out your break even price point of your total holding.
    2. Since the market is down, you can transfer one of your coins to another coin that has a much larger ROI potential.
    3. Continue trading/accumulating as if the market is at its steady point. Once bull market picks back up, you'll be able to break even at a lower price point.
    4. As @MoonWalk suggested, consider your investment a long-term hodl and check back in a few years.
     
  4. MoonWalk

    MoonWalk Scholar

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    Also switch over to bitmex
     
  5. MAGA

    MAGA Master of Crypto Staff Member Super Admin Premium Member

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    The problem is that a lot of those who "lost" were in it for too much of a short term, get rich quick type of people. Crypto can make you rich quick, but it also requires some intelligence and a lot of patience sometimes. Those that sold at a loss literally bought at the top and sold probably near the bottom all within 9 months. That's too short term in investing
     

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