Bitcoin is very close to passing its all time high price point.
The last time was in May of this year. It was on a sharp rise upwards when Elon Musk tweeted some nonsense and the dive down started.
For whatever reason, the fall kept going all the way below 50%.
There were many frantic selling. I was shocked at what happened though I was unaffected by a similar fall in 2017. It was my first time and it felt brutal.
Gradually, in the past few weeks, bitcoin has made a comeback. Especially in Oct, it's been on a sharp rise again.
History tells me to brace myself for another fall. But it is so hard to sell at a high.
The last time was in May of this year. It was on a sharp rise upwards when Elon Musk tweeted some nonsense and the dive down started.
For whatever reason, the fall kept going all the way below 50%.
There were many frantic selling. I was shocked at what happened though I was unaffected by a similar fall in 2017. It was my first time and it felt brutal.
Gradually, in the past few weeks, bitcoin has made a comeback. Especially in Oct, it's been on a sharp rise again.
History tells me to brace myself for another fall. But it is so hard to sell at a high.
I think many investment books (in ETFs and shares in general) say to set a stop loss order, but as long as you aren‘t realising gains (or losses), you didn‘t lose „real“ money in the process. Eventually it will recover.
But I was there and sold at loss and bought back way later to “use the upwards trend” when the price just started going down again.
With the large investment in my Apartment I’m now trying to ignore when the price goes down. Not looking at the portfolio every hour is a good idea for that. :)
Eventually it will recover (or it won’t) :)