I officially became that guy.
I bought Bitcoin near the top. Not the exact top, but close enough that it hurts. At the time it all made sense. Everyone was saying zoom out, you’re early, this is bigger than price. Twitter, Reddit, YouTube, all full of conviction. I wasn’t gambling, I was investing. At least that’s what I told myself.
Fast forward to now and I just sold everything in a bear market.
Perfectly bad timing. Buy high, sell low. It feels awful in a way that’s hard to explain unless you’ve actually lived through it. It’s not just about the money. It’s the months of checking prices, reading threads, defending your position to friends, convincing yourself every dip is healthy and every crash is temporary.
At some point it stops being about belief and starts being about stress. Real life doesn’t care about four year cycles or long term charts. Bills still show up. Sleep gets worse. You realize that diamond hands sounds cool online, but holding through constant drawdowns takes a mental toll no one really talks about.
The hardest part wasn’t clicking sell. It was admitting that my conviction wasn’t as strong as I pretended. I didn’t lose because Bitcoin is dead. I lost because I bought with emotion, sized too big, and assumed time alone would fix bad entry decisions.
There’s a weird mix of embarrassment and relief now. Embarrassment because I knew better. Relief because I don’t feel chained to a price chart anymore. No more waking up to red candles and telling myself it’s fine while my stomach says otherwise.
I’m not here to bash crypto or say it’s over. I still think the tech is interesting. I just learned the hard way that belief doesn’t override timing, and narratives don’t pay for mistakes. Sometimes stepping off the ride is healthier than riding it all the way down just to say you never sold.
Posting this mostly to be honest, with myself and with anyone else who’s quietly in the same spot. Anyone else been through something like this? Did you come back later or did you walk away for good?
No lessons, no alpha. Just needed to get this off my chest.
Posted by Low_Flatworm_8838
19 Comments
And I’m about to buy $10k when it crossed under 60 in a few minutes.
Thank you for your service!
Red candles are discounts and opportunity to stack your bags
For perspective incase you try again, I bought at a 68ish k high years ago, held, bought at 20k, avged to 30k, sold initial investment at 100k, sitting with the rest. So just dont sell at a loss next time.
Why do people say not to sell when it’s clearly dropping with no end in sight? I sold all of mine and will rebuy when it’s lower
I’ve been holding for years and still in the red.
I bought 1 btc at 99k… down 36k???????
This is way more common than people admit. Most people don’t lose because the asset was wrong, they lose because position size and psychology didn’t match real life. That part gets skipped when everything’s going up.
What you said about stress is the key bit. Holding only works if you can actually hold. If checking the price is wrecking your sleep, that’s not weak hands, that’s just being human.
A lot of people step away, cool off, then come back later with smaller size and clearer rules. Others decide it’s not for them at all. Both are fine. The mistake is pretending conviction when it’s really anxiety.
Appreciate you posting this. It’ll help more people than the usual number go up posts.
If you’re ever rebuilding a plan more slowly and boring, I write a short free UK focused newsletter about this stuff. Link’s on my profile if useful.
Hang on.
You got in near ATH, and then your bills piled up within less than 6 months?
It sounds like you gambled with money you didn’t have to lose.
Bitcoin is not a short horizon play.
Lol
We ALL make investing mistakes. I lost a lot of money in the internet bubble of 2001. I learned from it: don’t concentrate large investments in risky assets. Best to dollar cost average into a mix of stock index funds or ETFs (60%) , Bonds or bond funds (35%) and risky assets like Crypto (5%). Those ratios can change based on time horizon. Just invest what you can afford every month into these investments, and hold for the long term. It worked for me.
Are you guys seriously not able to tell that this post was written by chatgpt? Or am I the only real person on this sub?
Brutally honest. That takes more character than any Bitcoin gains can ever buy.
Bravo.
He sold 30min ago and now it’s going back up lol
I’m sorry you went through that, and yes it sucks hard to see your port drop. But dude… you just locked yourself INTO THE LOSS. I understand the need to pay bills, and everyone has to make that decision for themselves, but consider it tuition for learning when to get in and when to get out. You’re doing the opposite of what you should.
Rule number #1 , don’t buy bitcoin with money you can not afford to lose
Well, your real mistake is that you never understood it.
Also, bitcoin, not crypto.
I just bought some more, thanks for your service.
Your heartbreak has only just begun. Picture this: a year from now, it starts to rise again. You’ll feel the relief of vindication, along with the regret of selling at the lowest point.
Im not saying you should buy again. A lot of us here have experienced it.
The mistake is not realizing that Bitcoin is a long term hold. Think of it like a retirement portfolio. It’s not even something to trade every 4-5 years. It’s the exit from a financial system built on nothing that is coming to collapse.
And yes you invested with emotions which is why you got interested and bought near the top. Now at buy times you sold.
You will one day regret it. You’ll buy in again, but at a much higher price. It’s like disqualifying the internet in the early 90s and now you use it everyday. You’ll look back on a time you could have bought it for incredibly cheap but instead let your emotions dictate your decisions.
This is why in investing you almost have to do the polar opposite of what you think. As Buffet said “be fearful when others are greedy and be greedy when others are fearful.”
This is where theory gets a reality check. I have family expenses including tuition, retirement. After looking through it all, I ended up in a lot more cash equivalents (I wouldn’t even want to admit how high the percentage is) What do you do? TINA – there is no alternative. My actual expenses are in USD and this is likely to be true for the foreseeable future. I’m lucky I’ve never had to sell anything at a loss.
I do think long term BTC will continue to outperform, but I can’t risk this short term, so I don’t allocate more than I can afford to lose.
If you are investing what you CAN afford to lose, a wise man once said “be fearful when others are greedy & greedy when others are fearful”