I have a friend who bought bitcoin during this peak season. When the bitcoin price was 18-20k USD. Now he is sad and disappointed seeing that the current price has dropped to 50% and more and he is afraid he is going to lose all. In short he lost his hope and faith in bitcoin already. Has anyone here did the same as he did? If you did invest in that amount what did you do to your bitcoin, did you sell it or still holding it?
I purchased my Bitcoins in 2012, when the exchange rates were around $10 per coin. I feel bad for your friend, but please tell him that he needs to be more patient. Bitcoin is just like any other investment. There is no guarantee that you will get a positive return. But if you hold on to your coins for at least 2-3 years, then the chances are that you will get a good profit out of it.
A lot of people are trading bitcoin at that price, and i think those people who are experienced and have spent a lot of time in bitcoin, i think they are holding their bitcoin so patiently, in fact they know the nature of bitcoin and expected that its price will increase too much, therefore they are not selling their bitcoin in such a low price, i think those people who do not have good experienced in trading they have sold their bitcoin because of the bearing trend for a long time.
Right time for trading can be the low price and waiting, I hold my bitcoin which gives me a lot of money, but in trading you will have to trade for a lot of time like day trading does not make any sense, for me it is worst time to sell bitcoin when the market is down because bitcoin is really very reliable and safe investment so no need to sell, patience gives us strength to hold and wait for long time,. Holding or selling will completely your own decision so be careful dont be like those who had lose but try to be like them who are earning high amount of money.