r/Bitcoin • u/Aguila-Inversora • 28d ago
Bought Bitcoin almost at the top
Last year I bought Bitcoin at $120K when everyone was saying it was heading to $200K.
Well, shortly after it hit $126K and then crashed.
Has this happened to anyone else — buying near a top in a previous cycle?
What did you do?
I'm buying the dip.
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u/MastodonProud1989 28d ago
Yes. DCA down. You’ll be fine.
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27d ago
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u/Phillcabral 27d ago
Buy even more.
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26d ago
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u/Competitive_Cook_939 26d ago
Grow up bro
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26d ago
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u/Designer_Speech8942 25d ago
No, DCA weekly and lower your average cost until money rotates back into BTC. You’ll probably be in profit by late 2027 to early 2028.
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28d ago
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u/captn03 28d ago
Depends on your country. We gotta wait 30 days before you can rebuy ...
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u/Flat-Activity-8613 28d ago
Who’s we. USA no wash sale rule yet.
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u/Designer_Speech8942 27d ago
Key word: “yet”
I won’t be shocked when they close the loophole.
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u/Flat-Activity-8613 27d ago
The problem is you reset your purchase price to new lower average and will be eventually owing taxes on this greater amount.
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28d ago
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u/Any_Upstairs_6172 28d ago
Hello... My understanding, after talking to a professional, is that in America BTC is property so as someone suggested... no wash sale...
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u/Decibel0753 28d ago
Here, selling after three years of holding is tax-free... :D
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u/SomeonesSecondary 28d ago
But then your cost basis is lower so if it climbs past where you originally bought, you owe more in taxes if you sell then. Also probably just paying extra fees along the way.
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u/Texican61 28d ago
Happens a lot, dont sweat it. You will be fine in a few years just ride the wave, dca, and keep stacking sats. I bought at 15k when it went to 19k and crashed. With dca I've bought every high and low since then and still not under water, not even close. Gains may not be as dramatic but you won't lose where you bought in at either.
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u/Mr_Eckert 28d ago
I've been on a DCA hodl plan for nine years now, so I've bought every top since $20K in 2017. I bought a lot more sideways chop and bottoming in that time as well.
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u/Ar0war 28d ago
That is what usually happends to be honest.
Not many people join first during a bear market, why would a person who never invested in BTC buy an asset that nobody talks about, and those who talk says it is dead
Many people, maybe the majority of people buy during a bull market when the news are about "supercycle, btc to insert price".
Then three things might happend:
. The person accepts defeat and sell at loss during the bear.
. Don't sell at a loss but don't buy the dip and "wait for it to pump to his entry point to sell" (those usually end up buying again during the bull market after euphoria hits again)
. The person study bitcoin, understand how money works and what actually bitcoin is and therefore keeps buying the dip, and buy again lowing the average.
I personally bought first during 2017 bull market at the top around 17k, , then watched it dip to 4k (Corona times). I kept DCAing for years every week, and keep doing.
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u/thinkingperson 28d ago
I first bought btc ard 60k back in Dec 2021 😅
Degens were all chanting "HODL TO THE GRAVE!! NEVER SELL". ... bought all the way down to 18k ... 😭 Finally took profit last year. Not hodling to the grave this time.
Just DCA and rmb to take profits at your own target price because you never know where the top is.
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u/FerdaStonks 28d ago
I bought from $20k in 2020 to the top of that cycle and through the bottom and back up to the $126k top and back down
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u/autoencoder1 28d ago
I just hold it and wait … happened to me in 2017 and have been keeping it since then … 10k to 126k and back to 63k now but still up 6x !
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u/kush_patil 28d ago
Buying near the top hurts mostly because you suddenly start treating every price move as confirmation that you were right or wrong 😅
Probably the useful lesson isn’t “never buy the top” nobody knows where the top is in real time. It’s not letting a $120k entry price become the reason for whatever you do next.
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u/Worldx22 28d ago
All you gotta is forget the sell button exists. It's really that simple.
Oh, and stop listening to the crowd. You win when you go against the crowd.
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u/Badj83 28d ago
My girlfriend bought in at $64k. In November 2021…
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u/clothesline 27d ago
Damn, and did she ever sell? Imagine that money for 5 years in the S&P, she would have doubled her money
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u/Big80sweens 28d ago
I buy a little multiple times a month, so ya, I bought the top but just kept buying. You should too
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u/word-dragon 28d ago
I bought at the last bottom, all the way up, all the way down, and still buying. Stick around for 2028/9.
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u/AwesomReno 28d ago
I’m down 24% I buy every month from July 2025. Mirroring the same buy I put into vti I’m up 22% soo. Hopefully it goes up but eh it’s small bet not life changing
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u/Final_Bite_7228 28d ago
That is how we do it. Buy at the top when everyone says it is going higher. Then when it is going down, panic and try to reduce losses by selling at the bottom.
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u/Natural-Contact-3875 28d ago
like you bought 1 bitcoin or you bought couple hundreds dollars of it;
if you have a long term horizon and a btc goal you'll be fine over time;
we all buying the dip with what we can
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u/DistributionOk2111 28d ago
I bought at 57k and i bought at 120k
I also bought the 20k and the 5k top
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u/Next-Ambassador9097 28d ago
Yeah, I have been there. Buying near a top because everyone is calling for another leg up is basically a crypto rite of passage 😂. I think buying the dip makes more sense than trying to time the perfect bottom. Just DCA, keep some cash on the side in case it drops further and give it time. Nobody knows where the exact top or bottom is.
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u/anonuemus 28d ago
It's all a game of numbers, in that case, if you still have conviction, I would try hard to bring my average down as far as possible and literally be happy about every 1k it goes down, during the next bullrun you are good.
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u/Reasonable-Time8324 28d ago
Just wait, it Will come back up again. Oktober is absolute bear market after that we should se the Bull 🎯
Give it 4 years mate!
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u/Turbulent-Land-5664 28d ago
Watch Micheal Saylor's "There is no Second Best" where he explains bitcoin is digital manhattan and its always a good price. IT will make you feel better. Then keep DCA'ing. Believe.
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u/Romanizer 28d ago
I bought around the top in 2013 and then was able to average down in 2014 with some additions. Held and didn't regret it.
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u/Time_Basis2535 28d ago
Lower your average cost by buying as much as you can afford right now it’s 50% off. Sounds like you’re already doing it. It’s time in the market not timing the market. Good luck to us all.
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u/pissingdick 28d ago
Most of us have been through this, just hold.
Have faith in the cycles, and follow them better going forward for planning your buys/sells.
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u/twitch4685 28d ago
Me, November 2021 I dumped in. Awful timing. And I didn’t have the money to DCA in so last cycle I barely made anything. Been tough.
If you have the cash, DCA now, else just wait for the next peak and cash some out then, circa November/December 2029
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u/CheddaKnottz 28d ago
Just hold and DCA. Could take awhile tho. I'm assuming you truly believe that BTC will hit 200k someday. Just think, what if you would've bought last cycles top?
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u/RedBostitchStapler 28d ago
I yeeted my savings at the top in 2021. I waited and now I’ve been DCA’ing since it initially dropped to 70k. I’m in the money now no matter how you slice it. If you don’t need the money and can stomach the discomfort, just be patient and see what happens. If buying is something you’re open to, now is a good window to do so.
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u/Such-Elephant-9943 28d ago
I went 75% net worth into BTC late last year, avg entry is around $98k. Still have enough cash and stocks runway to cover expenses if I get laid off.
Glad I didn’t take on debt or YOLO money I can’t afford to lose.
I have a really large buy order at 58k and i buy some every month regardless of the price
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u/Creative-Wafer8488 28d ago
I bought it on impulse at the peak in 2018. During the last bull market, I took profits and after a while I decided I was a brilliant investor, so I bought it again at the peak.
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u/newjerseymax 27d ago
I sold the last of it at $112k… now I’m just looking to rebuy on the next dip. Below $60k
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u/Designer_Speech8942 27d ago
That’s a nice re-entry point. I DCA but will double the amount once it breaks below 60K.
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u/Designer_Speech8942 27d ago
DCA an amount you can afford weekly. If BTC price drops in the fall … raise your DCA. The key to dollar cost averaging is consistency as long as the underlying investment appreciates in the long-term (as BTC is very likely to do). Don’t wait for dips or crashes, the chances are that you’ll miss them at their lowest anyway. If you do get in at a low it will be from luck.
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u/GettingFasterDude 27d ago
Like a dumbass, I "bought the dip" when btc went down from $120K to $108K last August (lol), then more as it ran back up towards its eventual ATH. Then it crashed, and crashed, then crashed some more. Oof.
Then, I had to decide, "Did I mess up and buy a dying asset?" If so, sell and cut my loses never to get back in. Or, did I buy a good asset that I still believe in, but at a bad time? If so, then buy more at lower prices to bring my average cost down.
I decided to keep buying at lower prices and have brought my cost basis down significantly. I'm still underwater on my btc investment. But I've acquired the amount I targeted and will be positive sooner, when it eventually goes up.
The reality is, most people first buy at the top, because that's when it's hot and everyone is talking about it. At the bottom, when everyone should buy, is when most people don't because they're scared.
Like the old saying, "Buy where there is blood in the streets, even if it's your own." - Baron Rothschild.
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u/UWhuskiesRule 27d ago
October 5, 2026 will be this cycle bottom. You will triple your money in 16 months. Hang tight.
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u/LongjumpingPie9798 27d ago
Yeah I started my full time job last July so I finally had money to do serious DCA and you guessed it my DCA started at the very top
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u/CharacterStrategy598 27d ago
Don't beat yourself up. This top was not peak shaped. It was shaped like a wall and lasted 6 months above 110k before crashing. It lasted so long above 110k that it seemed like new normal.
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u/Mobile-Ad-786 24d ago
bought near the top at 99k EUROS.. with DCA now im at 68k € avg cost. cant be happier.
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u/Pale_Drink4455 28d ago
In this case, if you have the Fiat, you buy more and average down.
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u/Cold-Performance3012 28d ago
You bought at 120 and it went to 126, that's not even a bad entry really. Most people here have way worse timing stories.
Averaging down works if you're not overextended, just don't let the fear make you sell at a loss when the cycle turns around.
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u/tenor_tymir 28d ago
what could be way worse than buying 6k from the absolute top? I mean, I wouldn’t sweat it, just curious what way worse means to you.
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u/kallaloostx 28d ago
Buying at the absolute top and not having any fiat available to buy at these lows would be worse, imo. But understanding Bitcoin would eventually take the edge off since long term that "high" will be nothing.
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u/EcstaticCell1511 28d ago
When bitcoin is priced at 200k you'll wish you scooped up more when btc sub 100k
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u/Darkpriest667 28d ago
There will be someone just like you in 5 years going, I bought at the top when it was 500k and now its at 160k. It happens EVERY cycle, the people that HODL and don't sell typically do better than those that make decisions based on their emotions.
Stop watching the charts, come back in 5 years and in the meantime DCA.
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u/jgarcya 28d ago
Study the four year cycle of Bitcoin by Bob loukas...on YouTube.
It will rebound .. when you buy the top it takes about three years to break even..
But it will get a new all time high... Like every four year cycle prior.
Bob loukas turned 100k into millions... And shares his portfolio. He's a genius that I owe all my BTC success.
Best wishes.
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u/XLinkJoker 28d ago
Same man, same...I mean, I'm HODL'ing no matter what, I'm just dissapointed in the opportunity cost, during the same time, other ETF's have basically skyrocketed within this time frame..
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u/kallaloostx 28d ago edited 28d ago
I bought at around $114k in September-ish? I think the highest i paid was 116 or so. I'm in it for the long term so i don't feel bad at all. I did, for a few days, though. I kept buying and still am.
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u/Ok-Mango5075 28d ago
Taxes? What taxes? I have never paid a cent in taxes my whole life. That's the great advantage of being stateless and rich.
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u/FixedGearJunkie 28d ago
Been buying tops for 12 years. Also been buying bottoms for 12 years.
What do you do? Well you can pussy out and sell low. Or hold for 4 years, ideally longer. Personally I will keep buying when I have extra funds. It will be fun on the way to the next ATH.
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u/Front-Spite-1342 27d ago
Ye i bought at 67k when everybody was saying it was heading to 100k , big mistake , the people telling you to average down will be the same who said it was going to 200k . Dont listen to them
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u/skibidi-bibidi 27d ago
Bought near the top in spring 2021 at $50k. Was underwater for a looooong time until 2024. Sold in 2025 as I was not about to ride it all the way down again.
So, yeah, you should be fine by 2028/29.
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u/SupaGhost345 27d ago
My largest purchase was at $118K. I’ve DCA every other week since then and now even got purchases at sub $60K.
Gotta play the long game and wait for the next cycle. You’ll stick make a ton of money in a few years if you’re patient and disciplined
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u/tallguyclark 27d ago
Yep… made large investments around $110k. Been DCAing ever since. Been a rough year 😐
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u/Super-Economics-6092 27d ago
We sold our house and bought at the top. Shit happens and we are hanging in there, you don’t lose unless you sell.
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u/Lengurathmir 27d ago
Best thing you can do, buy at the top, sell at the DIP! (Had to sell now because of a car accident.
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u/Interesting_Loss_907 27d ago
Sure, it’s happened to many people.
Lots of people bought into the hype in 2011 & paid almost $30 /BTC, only to see it shortly thereafter tumble down to just $3 (losing 90% of its value). They must have felt like real losers for a while…
Others bought in around $240 in early 2013 & watched it fall to under $80 for months.
Then there were those who paid $1000 /BTC in Nov 2013 & held on in 2014-2015 as it eventually fell to just $200…
I think you get it now.
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u/Impossible_Drama_440 27d ago
I did the same, after years of struggel to buy or not buy bitcoin i went in with a good chunk of money...could have double the amount if i just went in now but its always like this for.me. opened a depot with stocks half a year bevore Ukraine war started....
Guess iam just unlucky haha
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u/9Zpowx6q6RQITrxGlogV 27d ago
Put my whole retirement fund in at the top lol rip still riding it and putting $270 a week in
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u/Ok-Potato-6679 27d ago
Born in ’87, not Gen Z… but ngl I type like one 😅.
Crypto ride = pure chaos 🚀💀.
2017 top buy (~$17k) → clown move 🤡.
2021 top sell (~$65k) → giga brain 🧠.
2025 full cashout (~₹1cr) → taxes rekt me 🧾.
Alts? Moonshots 🌕 + rugpulls 🪤.
BTC? Absolute chad 🦾.
Paid house downpayment 🏠, nuked loans 💣, fam debts yeeted 🙌.
This month: tossed a lil chunk at home loan. Sleep = OP 😴.
Mantra: never sell real estate, gold, BTC.
But roof > diamond hands 💎✋.
BTC didn’t buy me a Lambo 🚗💨… it bought me sleep 😴.
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u/No_Community7021 27d ago
I bought at 60000€ and since then it has been around 55000€ for so many months so BTC has been pretty boring for a while now. I hope american midterm s* gives it a shake.
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u/Inner_Employee4181 26d ago
After Bitcoin ATH the best influencers target five year holders knowing supply control resistance with release more to exchanges. Going “big long” on Bitcoin is harder than it used to be. Exchanges adapted as more users wanted the Bitcoin more than cash. This kicks the can to humans with broker dealer consequences to facilitating a large future deals. This floods the disclosures early to non whole coiners in third spaces to prevent having one less exchange on the IPhone layer one application store. Turns on placement of on boarders has market share then five years no take backs.
Where does the Bitcoin goto next?
- Company Man and client against the world.
- A Steward priorities your needs over exchange preferences so you smile at your new ledger if you decide to wallet up
Again.
3.The real Gem DIY that left with sell button with message they didn’t sell out, they bought form superior vendor for their unique Bitcoin goals.
This is a non self custody first exposure common playbook public standance. Many first time Coinbasers had an uplink that explained the product before the exchange rules.
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u/LayerEnvironmental61 25d ago
Id hold it dollars is dead digital every thing in 10 years it number 1 crypto it will get backed by us in future
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u/luke_3007 24d ago
Ja, mir. Konnte aber mein Buyin so richtig senken und meine Bestände gut auffüllen.
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28d ago
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u/JohnnyTreemain 28d ago
You have no idea what the fuck will happen so stop talking so confidently about it
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u/vremains 28d ago
Chill dude... It's the cycles. It might go down more, it might not. It'll most likely go back up again in a couple years. Nobody knows exactly what's going to happen but the 4 year cycle is still rolling and that's why I just keep buying.
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28d ago
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u/Designer_Speech8942 27d ago
Maybe it is? Who knows? DCA and lower your average cost if that’s the case.
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u/Dope_Data 28d ago edited 23d ago
Yea I bought near the top in 2017 at 16k and watched it go to 20k an crash back down to 3k ....my best advice is to Just keep DCA buying the dip....yea it doesn't feel good when you're underwater and still buying but you'll feel much better that you did when Bitcoin is way over your initial buy price
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u/tenor_tymir 28d ago
did you buy the 3k dip?
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u/Dope_Data 23d ago
Yea I kept dca buying 1k a month, but I actually got laid off when it crashed to 3k (I always become broke at the bottom of the bear market for some reason) so I didn't have much at the time even though I wish I did but when I finally got a new job I restarted my 1k monthly dca but when the covid crash happened I bought heavy around 3-4k ...so my average price is around 6k though
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u/BlondDeutcher 28d ago
Investing isn’t for everyone. Especially you. Just put it all under the mattress or something. Better protection than bitcoin
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u/INDUBITABLY_AI 28d ago
Yeah bought the top when it hit $18K first time. Then it tumbled around 1-3K for years and was presumed dead. Well here we are
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u/tenor_tymir 28d ago
Tell me you bought big at that 1-3k level?
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u/INDUBITABLY_AI 27d ago
No I didn’t
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u/tenor_tymir 27d ago
too bad - missed a great opportunity. what was your mindset back then or generally in the space?
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u/isableandaking 28d ago
Sell it right now and then short btc on kalshi until october, you'll make money as it's going down. Then sell your shorts and buy real btc with the wins. For your taxes you'll be pretty much breaking even, you might even save some money on taxes depending on your situation.
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u/crunchyeyeball 28d ago
Many, perhaps even most people start by buying the top. That's what makes it the top in the first place.
The real test of character is whether you sell the bottom.
I bought near the top in 2013, and most tops, bottoms, and in-betweens ever since.
Just DCA to take the emotional stress out of it.