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No, you are still learning the lesson, it's not been learned at all. You are being illogical about your investment. Go back to the moment you bought the Bitcoi
by tinco 13y ago
No, you are still learning the lesson, it's not been learned at all.
You are being illogical about your investment. Go back to the moment you bought the Bitcoin. You apparently thought they were worth $1000 per Bitcoin at that moment, there is nothing wrong with that.
That you invested in Bitcoin means you expected them to rise, do you remember how much you expected them to rise? In what timespan? Does the price going down for now affect that estimation? In what way? Why would you sell your Bitcoin?
There's answers to all those questions that go in every direction, but they lie in the future, so the only thing you can do is make a reasonable prediction, and hope it was realistic enough.
Some people think Bitcoin will go to $10k, some people think Bitcoin will prove useless and die out. Decide in which camp you are.
About MtGox: If MtGox would somehow mess up bad enough that your money/btc is not safe there, that would hit the BTC so bad that its value would at least half, if not more, at every exchange. Trying to withdraw your bitcoin now is madness, you're just risking getting it stuck.
Be careful with your panicking. I myself am too afraid to go long on Bitcoin, if I had I'd have over 10x my original investment now, instead I just speculate and profit from panic sellers, it's fun and pretty low risk. I sell whenever Bitcoin is stable, and buy whenever there's panic.
I don't believe in Bitcoin being worth $1000 right now, but I do believe that the technology and ideas are solid enough, that whenever there's a panic the price will recuperate fairly quickly as people realize not actually all that much changed.