Post
Topic
Board Speculation
Re: Problem i bought 2 weeks ago $2000 bitcoin and now it goes down
by
The Pharmacist
on 16/07/2019, 19:58:01 UTC
"Never invest more than you can completely lose".
I've heard that so many times on this forum that it ought to be some kind of stickied message on the home page.  Seems like a lot of folks end up getting in over their heads when the bull starts a-chargin'.  

OP, I don't know how much $2000 is to you, but hopefully you're young and that's not your entire life savings.  As far as recouping your loss, I'd advise you hold on and don't sell what you bought.  Obviously that's how people lose money--buying high and selling low.  Bitcoin is a rollercoaster, always has been, probably always will be.  And my best guess is that if you bought at $12k or whatever your price was, it'll get back there.  It probably won't take too long, too.  The market is still very bullish and what we're seeing is just a correction/dip.  Hang tight.

Remember, you have not lost any money until you sell at a loss. So don't do that.

I'm not a fan of that mentality.
Nor am I, and I don't even believe it's a true statement.  If you use mark-to-market accounting, what you have is what you're worth at the end of the day--whether you sell or not.