Don't worry. I have it worse.
I'd been holding coins for over 2 years with very little movement...
I sold 100 April 30 and then my last 100 at the end of May, just days before the big rise started.
Normally I'd buy back in, but my money is tied up in mutual funds now.
The crazy thing is that I didn't even really want to sell. I just got an accepted offer on a house, though, and I need the cash to sit in an account for 90 days so I could get a mortgage.
So far, I figure I've missed out on about $60,000 just from the past two weeks of gains.
And there is nothing I can do but sit there and watch.
I'd been holding coins for over 2 years with very little movement...
I sold 100 April 30 and then my last 100 at the end of May, just days before the big rise started.
Normally I'd buy back in, but my money is tied up in mutual funds now.
The crazy thing is that I didn't even really want to sell. I just got an accepted offer on a house, though, and I need the cash to sit in an account for 90 days so I could get a mortgage.
So far, I figure I've missed out on about $60,000 just from the past two weeks of gains.
And there is nothing I can do but sit there and watch.
ouch. that's gotta hurt. Do you have any plans on getting back in?
i really don't get this! how can someone invest this much money in something (100BTC in this case) and have no idea about what he is doing, hold it for "two years" then sell at low prices!!
i mean if you want to sell, you should sell when the loss is small not when it is at max loss and sell just before the rise!
Could you have predicted the rise...??
No, you didn't and you couldn't. Bitcoin could have just as easily gone sub 200.
Now, I'm long time optimistic on bitcoin, but I need the cash for a mortgage application. No, mortgage brokers will not count bitcoin as an asset.
I really had no choice. I still have the 100k I got out, but I was not able to use it to buy back in.
At the current prices, looks like I missed out on $70,000.