Re: Purchased at $23,500, when should I start to panic? When should I average down?

I think I made a mistake buying at $23,500 (obviously), so when should I really start to panic now that we dropped to $18K?

At what price point now should I consider to add more to average in at? Like, if you owned a bitcoin at $23,500, would you wait for $10K or 15K to start adding more to average in your high price of $23,500?

Either you are new to this Crypto industry or really impatient dude.
I mean what’s the use of panicking? It’s normal Bitcoins to fall in it’s price. If you don’t know how the market works then better you should avoid money investments.
You are fearing and that too when you have BTC in your wallet. Just do a quick search on the internet about the marketcap of Bitcoins. That is enough to prove Bitcoin’s power my friend.
Just don’t panic always. Hold the coins for at least a month and then see the profits.

Obviously, OP is not really much aware about the high volatility of bitcoin. One day, you’ll see it’s moving up, the next day you’ll be surprised it’s now falling down. So never expect for bitcoin price to stay on top all the time. And I don’t think resorting into panicking will ever help you, it will only make you develop more fears and doubts on bitcoin. Instead, learn to be more patient and hold more, and in case bitcoin price drops more, just focus on buying so you can reap huge profits when bullish season comes.

Even if he was aware of the volatility of bitcoin it is completely different to read about something than to experience it, it is very easy to think that you will be able to deal with the volatility of bitcoin but it is when you actually have to see the value of your investment going down when doubts begin to surface, I hope the OP does not sell for a bad price as he has bought his bitcoin at a decent price and the only thing he needs to do to obtain some huge profits is to hold his coins for a few years.

When emotion do kicks in then this is something a really very hard to control even if you are really that aware on how this market behaves which we are just humans which it is normal to have these kind of reaction
whenever we do really experience these sudden declines.If you are on a situation which you had just recently bought and then the price dips even more then it would really create that kind of feeling which you
would really that panic.Asking out whether you would DCA or would just simply sell for cutting loss(which is a decision to make).Its better to hold no matter what because those negative numbers arent still realized
which means that you arent still losing money since it was never been sell which does simply imply that accumulation in much cheaper price is suggested.