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Quote from: edward500 on September 06, 2022, 07:46:57 PM

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?

$23k to $25k is not a problem because in my opinion that price can still be achieved in the short term,
especially if you look at the data for October bitcoin is always bullish so there is a possibility that $25k can be reached again next month,
just hold on and don't sell cheap if you don't want to regret.

It is important to try to not create expectations that are out of place for bitcoin, while October has been historically a good month we know this has no effect at all on what it may happen next, and it is possible that at best we could move sideways during the upcoming October month.

So it is important to keep our expectations in check, that way if things take a turn for the worse we will avoid panicking and selling our coins for a bad price.

Historically in bear market, even October is one of the worst. So I wouldn't put too much expectation next month, it will be flat again as I expected. Not that I'm negative about it, but that's what happen in a bear market. When we expect that the market will have some good month, it will turn on the opposite.

And with that, I do agree that it's important not to put too much expectations this month as well. $23k->$19k-$20k might be as bad as in the beginning. Nevertheless we can't do anything but to wait till the price bounce back to even levels.

We should not set too many expectations to avoid being disappointed too much later, but we as investors should always have an optimistic spirit, sometimes optimism will bring us excitement and stay awake to hold bitcoin. For me, October is usually a better month for the market, I do not dare to confirm that this October, the market will be filled with green. But personally based on my analysis and a little bit of emotion in it, I believe we will have some rally in october and the price can go back to previous $25k to 30k la when there are more declines.