Hi I'm a newbie to this whole thing although I've followed it since My Gox. I registered with an exchange and bought $1000 a few weeks ago at around $2200. It went up to 28 and I took some profit and then it started to drop and I got scared and transferred it to my USD wallet and then bought eth. And also I bought $50 here and there etc. Bitcoin started to go up again and I bought back at a bigger price then I sold it for. Then when it hit $3000 I didn't sell because I thought it was going to keep going up. It crashed and I sold again. I was trying to protect my original investment and at the end of the day I have $950 in my fiat wallet. I added up all the fees etc and I've spent $240 on fees etc! "Buy low, sell high" was lost in the craziness. Now I"m just waiting before I do anything else. Made a lot of mistakes and I"m wondering what is the way to go and is this an investment or a casino??!! Any input would be appreciated. My original goal was to buy 1 coin and keep it and another to trade the market. Thank you.
If you intend to keep trading, read some books and research some experts before you continue. If you want to invest in BTC long term, just buy and hold. Don't worry about the day to day prices, it will drive you mad. BTC has shown tremendous growth over the years that will likely continue barring some catastrophic event. If you intend to hold long term just remember to control your own keys.
I am up 1000% percent but there was a time when I was down 40% and I almost lost hope and sold.
Bitcoin is a great store of value, think long term and you will profit.