AHEM!Because if you really believe that it will be worth (much) more in the end, it's not even doubling down, it's just getting bargain buy-in prices. Unfortunately, you first have to believe, and to believe, you have to understand; so if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses. That's why I would not recommend for OP to ever buy bitcoin as an investment before (s)he understands.
"if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses."If I may direct everyones attention to the highlighted text from piramida below. A Post he made when Bitcoin was still trading in $1000 range on Stamp and I was selling some Bitcoins at a loss.
!!!SMACK DOWN!!!I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.
Oh man I considered you to be smarter than that.
You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.
May I just say, thank fk I know better than to listens to nutters like you!
Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.
Piramida is of course far from being alone in this sort of delusional thinking, but this is representative of the sort of advice that is in perpetual gross surplus on Bitcoin Nutter forums like this and noobs have to be on perpetual guard against.