unfortunately I bought my crypto at the worst possible time, close to the alltime high, thinking its just gonna keep rising. right after I bought it all started to go down. I am not selling until I get above what I paid but how many years is that going to take? I don't have any bitcoin but bitcoin is always a good indicator of what,s going on with altcoins. I need bitcoin to go back to 60000 before i start making money. I have mostly ETH, ADA and XRP. XRP creators are in court right now,if they win it might go super high, if they lose it will crash to nothing.
@reflectingmonkey I see. Thanks for explaining. That's a bit of a difficult situation.
I mostly predict Short to Medium-term price targets, based on recently preceding price movement and chart patterns.
I do believe that Bitcoin returns to 60k levels, though it's very difficult at this time to predict "When".
[b]I'd speculate that Bitcoin may return to 60k level within 2-3 years.[/b]
[quote]unfortunately I bought my crypto at the worst possible time, close to the alltime high, thinking its just gonna keep rising. right after I bought it all started to go down.[/quote]
Don't think that you are alone.. or even one of the rare ones. Trust me.. LOTS of people bought into Bitcoin between the 50k-60k price range.. especially with Elon Musk being very vocal about Crypto, even investing massive amounts in Bitcoin, around that time.
I assume that you are more of a passive investor/trader, rather than being into day-trading.
For a passive Trader (Hodler), it's best to buy when Low (over-sold), and Sell when High,
I don't have any ideal recommendations for such a situation, however, since you are willing to wait it out:
[b]It may be wise to buy more Bitcoin each time the price gets very low. Especially after a long down-trend.
If BTC price ever returns to as low as 15k and lower, especially close to 10k, then those should be sure and safe buying points.[/b]
You can at least Hedge against your losses in that way, and maybe when the price returns to 30-40k, you would have recovered your losses.
It may not be a straight and clear path to return to 60k. (but it likely eventually gets there.)
@ADtrading i got in with the idea to do some day trading but when it all crashed I reluctantly became a long term investor 😂🤣 it was money that I wanted to play with so I will either sell it at a profit, get my money back or lose it all. I am not selling at a loss. its all or nothing.
@ViciDraco I would say that it's unwise, and risky, to get into any type of trading without proper learning, and practicing with small amounts (or "paper trade"), until you build up the skill to trade successfully.
Otherwise, some can indeed win in trading, by buying in luckily at a low price point, before a big rise in price.
