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Topic
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Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
smartcomet
on 08/05/2019, 00:36:26 UTC
⭐ Merited by JayJuanGee (1)
Falling below $6,000 last year was where it all started to go wrong last year. The price dropped at an alarming rate after we breached $6,000.

November 5th 2018 - $6,398
December 15th 2018 - $3,179

I don’t know about anybody else but that was a pretty fucking scary time for me. Breaking $6,000 would represent great progress & a sign for me that the bear market has long been left behind & we enter a new, baby bull market.

Enjoy gentlemen, this is going to be a very exciting run over the next year or two & I’m honoured to be on this train with you all.

Yes, it was scary indeed. The scariest part for me was that we fell too quickly from the annoying 6.4K below my main investment point at 4.6K. I felt pretty miserable then but also courageous and immediately I started to make plans how to buy. Anyway, I didn't hesitate each time when I got some money and immediately I bought bitcoins. I increased my sub 20 stash with 2 whole coins in these 3 months. Now I have to invest all my salary for 2 years to get 2 coins at these prices. I will continue to do it, no matter the price. Unfortunately, I had to pay in the last months taxes and insurances for $1K, so I wasn't able to buy more. Today I feel also miserable but for another reason. I attended a presentation by one of my students, who was in Sao Paolo, Brazil. He said, that a typical Uviversity salary is 10 times than my professor salary in Bulgaria. And Brazil is looked upon as a poor country. I am so sad that after 20 years of work my savings are equal to 10 months work in Brazil or any other country in the world in fact. Our country is the only in the world which pays the University professors less than the workers and teachers. I can't go to another country because there are no open positions in my speciality. So my only hope is to convert what is above my monthly expenses in Bitcoins. I drew a lesson from my mistakes in 2017 and I will hold long enough to achieve my goals. On one hand I regret for my lack of nerve back then, but on the other, this made me a strong hand. It may be helpful for some so I write in short my experience.

For starters, I lost my earnings from $700 to $1000 after the crash to $700 for 3 month in the winter of 2017. For an unexperienced trader 2 months is a lot of time, and finally I decided that Bitcoin will never return and sold. After that I thought Bitfinex will go bankrupt and I didn't buy until it was $2000. Then I made some small profit (and I sold bcash for $200) which was completely annihilated by the pump from my sell point $2700 to $4800. Again, 2 months of crashes in the Summer was too long to endure for me then. Next I entered at $4600 to see the drop to $3000 but this time I holded. When the day of the fork neared I panick sold and then they cancelled it so I bought at a higher position (thanks also to Kraken, which was broken and it didn't fulfill correctly the buy order). Finally, I panicked at 12K that the futures will put an end to the bull run and sold half of it. The same day the price went to 17K. I was in shock and somehow I rebought at some drop at $14K. In short: I was good enough to predict the day of the first peak to 17K, but not the hour. The difference was some 30-40%. The lesson is only one - no matter how good is one in trading, noone is so good that ALL his trades are successful. And one bad trade can annihilate 10 successfull trades. So, I will clench teeth and hold no matter what! I have endured more than a year of horrific crashes and I am ready to endure many more years, if this is the price I have to pay for my first $1 mil. I am still in the process of making a selling plan. As a starting point is to get at least 10x profit. But some coins should be kept for 100x also. Oh, well, this is a though problem Smiley

Just like my trading history with different time and price. After I knew the 80/10/10 rule, this is that 80% lose money, 10% get by, and the final 10% take the 80%ers money, I seldom trade, because I know I don’t have any advantage to beat the 80%ers.

When the price fell to $3179, I was a bit scared but much regretted for not selling all at 19666$. I did sell a bit at that price, and rebought at 11K. After I knew btc will not go to zero and will change the world, I felt as calm as a cucumber.

Hodl is what I am doing, and trading is what I occasionally did with losing a little bit stash everytime.