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.
