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> But if you bought BTC and held it--at any high or low, for any significant amount of time--you made a lot of money (either realized or unrealized, that doesn'
by goodside 9y ago
> But if you bought BTC and held it--at any high or low, for any significant amount of time--you made a lot of money (either realized or unrealized, that doesn't matter).
This isn't entirely true. If you bought Bitcoin anywhere near the height of the late-2013 mania (which is of course a lot of people, since that's why the price was so high), you lost half your value within a month or two and then had to hold until 2017 before you started to break even. You lost 70% if you held for a year and a half and gave up.
The market from June to November 2011 was even more disastrous, falling from $29 to almost $2 and not recovering until February 2013.
These are obviously cherry-picked dates, and you'd clearly have made a profit eventually if you kept holding, but it's still very possible to hold Bitcoin for years and lose money.
- knownothing 9y agoRight. You would had to have bought and held until today for my claim to be true (and it is only true at the time I write this). But it's still the case that you could have bought in any peak or trough in the periods you're referring to and still have significant realized/unrealized gains right now.
- krrrh 9y agoSure it’s true, but it’s a tautology to say it when something is at an all-time high.
- knownothing 9y agoWhat's your point? I basically say that in my posts.
- csomar 9y agoThe difficult part is holding through the bear period. I'm pretty sure not so many investors can do that.
- knownothing 9y agoCorrect. The most difficult part of trading/investing/betting (call it what you want) is often confronting your own tolerance for risk and uncertainty.