I threw 30,000 into bitcoin last month. I'm hurting now. What can I expect?

ItDoesntReallyMatter wrote:

If losing $30k is a large financial hit to you, and you were willing to gamble that on something incredibly volatile, then I would say you should expect to keep working until you have 1 foot in the grave.

Sell the bitcoin that you have left over, and deposit that amount in an account with a robo advisor. Going forward, contribute to a 401(k) and/or IRA. If you can, also contribute a small amount of each paycheck to that robo advisor account. Do this whether the market went up down last week/month/year.

I am very concerned because I can't seem to sell my investment. I've been trying to get what is left out of there but with transaction fees I don't know how much more I'll lose. It will probably take until Monday for me to sell and withdraw and I don't know what the strike price would be then.

I think I have hemorrhoids from all the stress as I haven't showered, haven't wiped my buttcrack in 72 hours and some dried out clumps of feces are caked to the pubic hairs underneath down there.

On my 2017 tax return, do I get to deduct the $3,000 as a personal capital loss and carry over the remainder to future years? Anyone know?

Virtual Ponzi scheme. Either find a sucker willing to invest hard, real currency on buying your share, or Declare Bankruptcy! You're better off playing Powerball, or just invest in the Scratch-off Solution. I can foresee your retirement years spent in the Bingo Parlor. Good Luck... Lots of it!

By the way, wipe your nose before you wipe your ass. Such foolish endeavors can result as a pain in the buttocks ??

HODL

Most who trade for a living have been there before. It's an expensive lesson. Don't put on a position where if it goes against you, you will lose sleep. Keep it small so you can ride out the big swings. I am a futures trader and BXT is way too volatile even for me. Your loss is painful, but sometimes it's better not to make a lot of money by doing the wrong thing, like trading too big. It could set you up for an even bigger loss in the future,

Worried1 wrote:

I threw 30,000 into bitcoin last month. I'm hurting now. What can I expect?

To get pegged into oblivion.

Two of my regular prostitutes now accept BitCoin!

What happens if I sold my wife's jewelry to a pawn shop and bought bitcoin? Also I have a prescription to pay for a bacterial infection under my scrotum from the feces caked onto the hairs and I won't be able to go pick it up at the Walgreens until my bitcoin sell order less transaction fees clears on Monday. Oh God this sucks

Worried1 wrote:

I threw 30,000 into bitcoin last month. I'm hurting now. What can I expect?

Doesn't make much sense.

Had you purchased at ANY point in November, you'd be up a minimum of $10,000 from $30,000, regardless of the exchange.

Jerry Maguire wrote:

HANG TIGHT,

Just be patient. It will continue to rise, it always does.

HODL!!!!!

Do not sell. Bitcoin is highly volatile , it has lost 80% before and could again. But it WILL go back up. If it crashes again, BUY MORE.

It'll hit 40K by summer possibly 90K by the end of the year.

Bit coin may also go all the way to zero.

I think you should drop 10-20K in a load of mining rigs, then run them from a hardwire in your garage to get ahead again.

Q: How to you make a small fortune in BitCoin?

A: Start with a large fortune

OP is off to a very good start.

The South Korean government banned Bitcoin exchanges the other day copying China's earlier moves. They said to stop tax evaders and money launderers. But many suspect it's because Bitcoin is a invention of Japan's Ministry of Finance.

hodl wrote:

it's extremely volatile right now

Right now? Bahahahaha!!!! It's always been volatile!

Rule #1 of investing in volatile commodities is to ALWAYS use play money ONLY. If you need that 30k, big mistake.

Rule #2 is to never invest by the time something is receiving massive media hype, or is being discussed around the dinner table by average ma and pa types. It's DONE at that point! Forget about it and move on.

Rule #3 is to never forget rules 1 & 2. Nobody ever really follows this rule, and that's how profits are made on an ever revolving door of suckers.

Sorry that you were the sucker this time. Use this experience as a lesson to always apply the above rules.

This website is so sad

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Worried1 wrote:

I threw 30,000 into bitcoin last month. I'm hurting now. What can I expect?

Hold it. I've got more than that invested. I've invested at 12k, 6K, 3.8K and more at 9K.

Pull up a chart and look at the big picture on a hight time frame like a weekly or monthly chart, It is the best performing asset in the last decade.

We just came out of a YEAR long bear market last year. Then went parabolic out of it. the correction is normal.

I'm very much expecting price to re-test 5000 - 6000 range.

My hope if we range between 5k-8K for another year accumulation.

It look at it like this. Bitcoin is going to have a binary outcome. It's either going to 100k or Zero.

So you are down 20%?

Well you bought in a down trend. I think price is going to re-test 8.5K-9K here in a few weeks before putting in another leg down.

Get on tradeview.com Pull up the the BTC chart get a grasp on what the price is actually doing. Check the weekly monthly chart. Relax.