Long time lurker, first time poster. I made a very silly mistake of buying coin at $1160. I use bank transfer which takes days to process, so there was nothing I could do when the collapse started just 2 hours after my purchase. I've also had a fair bit of coin that I bought at 800 months ago. When the price began to dip under 1000, I thought I could just sell the coin I bought for 800 to break even. But I held on expecting a recovery. And now we're at 780. There was a lot of hype on this board which certainly impelled me to buy. But I'm starting to think BTC is unrecoverable at this point. I don't see a rebound. I don't mind holding onto my coins for another 6 months, but if it's just going to drop to 600 and stay there for another 2 years then I might as well sell now. What do you guys think?
You are already on a loss and there will be no change if you will minimize the loss by doing selling at the current rate. Since you just face the output then why extent it more by still holding the coins you have purchase at $1160. It's just the same since you will buy again at the current rate or should I say waiting for more dip. Just hold and hold and hold and let it idle even it will take years. What you must do now if you have still some extras ammos there is to take advantage of the current dip and plan for another rounds of buying.
Anyways is there any other way/s available in your country to buy coins without using bank transfers? When there is a rally it's not good if all our funds or ammos can't be accessed immediately.
P.S Im not saying you should do that. If Im on your situation that will be the possible actions I will made.
This message reminds me of how people panicked when bitcoin corrected form 30 to 3 US dollars in it's early days. Many sold booking heavy losses. Look where the price is now. I just want to say that you hold on to your bitcoin for the years to come and see the result for your self. You can diversify some bitcoin to projects such as singular dtv and iconomi.