Post
Topic
Board Bitcoin Discussion
Re: I made a mistake shorting BTC at 17k
by
Smartvirus
on 27/10/2022, 22:01:07 UTC
I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.

Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.

Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Mistakes are where we learn lessons and at other times, it doenst mean you would have to be the one making the mistakes. You can learn from other users or people's mistakes. You already made the mistake of selling too early, following the analysis that was appealing to you at the time and I get it, the burden of buying at a higher rate and have far less bitcoin than you were hodling before but, perhaps you could try an investment plan and just buy sat by sat without looking at the pump or dump price untill you've got a significant balance on your wallet again. Don't make the mistake of just looking and do nothing.