Post
Topic
Board Bitcoin Discussion
Re: I made a mistake shorting BTC at 17k
by
SmartCharpa
on 05/12/2023, 22:03:00 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

Edit: i updated my post at #103

You sold your bitcoin at the wrong time, but it's still not too bad because you made money and didn't lose. However, you shouldn't have been following all the news you saw because even now, as the price of bitcoin has risen more than #40 now, you would still feel bad about it because you sold it at the wrong time. Because of this, when it comes to investing, we shouldn't rush things instead, we should take our time and consider whether the decision we made was the right one, even though we have different options towards bitcoin. Since we are prepared for any outcome from an investment loss or gain why rush to sell when we are aware of the risks associated with bitcoin? If you hadn't sold, I think your profit would have been bigger by now. I think you would have learned from your experience, and those who are new to investing in bitcoins will still learn from you.