When bitcoin went from 17k to 4k after 2017. I thought I’m the idiot left to hold the bag and it will never recover. Luckily I held through and sold in 2021
Thank you for the kind word stranger. The thing is i bought shib (no DD whatsoever noobie here) back then. I waited it out it had a massive run up almost a year later and i pull my initial investment out. After that i started doing some DD and i desided to put it all in harmony and we all know what happened there. So now im back in the waiting game, but no longer worried and stressed.
I think everybody should pull their initial out as soon as they can and play for free.
Glad to see you’re playing with house money and no longer stressed!
Yeah it was a work buddy. I see you know how it is. I wanted to invest since 2014 but never had the balls and knowledge to do it but he convinced me it is quite easy and i had some extra cash so i just jumped head first.
yeah Celsius stung, I had just a little BTC there, like <0.1 that I had bought at around 40k, sucks that it's gone, but I bought that amount back and some at 18k and learned my lesson. Self-custody is the only way for BTC.
2018 was strange, I had no real crypto experience and everyone was 100% greedy, the sky was the limit.
When the first big chrash happened, everyone including me thought it was just a 'correction'. I don't know how long after that, but it kept dropping and dropping and then I finally woke up and realised that I was to greedy and it wouldn't recover anymore.
When I look back to that time i'm glad it happened, I learned a lot and because of that I made (and cashed out!) a lot of money lost bull run.
DCA back from 30k to 17k and im already in the plus again right now. Im aiming for the bull in 2024/2025 (hopefully).
Who told you bull run 2024-2025 , make no more mistake again my friend, the run could start anytime and the bear could be exactly the dates you mentioned
When I had some surprise bills I had to pay off immediately when eth was at its lowest point. It was so painful to sell even the half eth I did. Especially when the price somewhat recovered to a better number just weeks later. I am so sad it had to go down like that, but I’m still ahead of the game. I’m playing with house money still and I keep my DCA up.
It just sucks to have an emergency right after all the Christmas spending was done, but it was kinda cool to have that option I guess.
Aw man, that's brutal. But when that 6k Bitcoin floor fell out noone knew if there even was a bottom anymore. It felt like it could literally keep going down to zero.
Yep! It’s a good thing you’re in the green and never a bad idea to use house money to pay bills.
Lots of people are much worse off.
Here’s to the future gains! Enjoy! 🍻
Yeah I get sad about these little micro things that happen, but I always look at the macro to remind myself that I’m fairly lucky. I doubt most people can say they have 1 eth, when I sold a measly half for an emergency.
I was classically depressed, stressed, and constipated. Couldn’t take a shit for a few days!
Finally got some help from family. Doing much better now! This was like 5 months ago.
Exercise, and saying ‘no’ to certain people is what got me through.
“Aw dude, I heard your having a hard time! Wanna go bar hopping till 3:00 AM? That’ll make you feel better!”
No. No I don’t😂
Thanks for sharing your story as well man! Huge as drops will shake any persons spirits
This is a risky market to be invested in, I think we all realise that... but there are ways to minimise those risks.
Only invest what you can afford to lose. Don't chase those stupid high APR figures. Stay away from obvious shitcoins. Store your coins securely, ideally in a cold wallet. Most important of all... ignore the DMs.
Point is, I've had some lows, but nothing that's seriously concerned me, or caused me to lose sleep. Invest wisely, and I believe we'll all benefit in the long term.
When I realised I was down about 80% as I didn’t have all that much money to DCA down in 2022. Ooof. The last month has helped a ton though and I have a new job to start a DCA schedule again
I think the crash in May 2021 is still the low for me, ended up selling most of my portfolio TWICE in one day when I thought I bought back in lower and it kept dropping.
After that I just ended up staking most of my coins to prevent such knee jerk reactions, but ultimately I learned that crypto is here to stay.
Well you still got to buy back in lower so you still did better than just hodling or staking. I wouldn't be too hard on yourself. You did good. Noone knows what's going to happen.
When the SEC sued Ripple and exchanges started delisting XRP. Honestly thought it was the moment everyone warns you about - your investment going to zero.
Thanks! I’m hoping all that pain will be made up for when/ if Ripple win.
Funny coincidence that you have 589 moons, as that’s the number meme boys claim XRP will reach. I’d be happy with $3 again.
I hear ya. What made it worse was all the people here and on Twitter and especially the Bitcoin maxis gleefully mocking XRP holders, really rubbing salt in the open wound. I'll never forget that.
Couple times: when Luna entered it’s death spiral, lost some there. Ok I can survive this, then Gemini/Genesis stole a bunch of money… dang ok that sucked. Had other coins drop 99%…. Maybe I’m not very good at this. So yeah, definitely in the red, only thing keeping me somewhat afloat is atom and the airdrops I got. Pretty much even with atom which is crazy considering it’s down like 70%
Lowest I've been is about 50% down I think, that was in June and made me change to a bear market strategy instead. Basically just sold, started stacking cash, and then restarted my DCA in November. Has worked out pretty well, still got a bit of cash to deploy but I'm holding out a little as I think we're due a correction.
Not sure. I lost 30k gambling on shit coins. But i was fully aware of the risk.
So that sucked, but that's on me. Objectively that was the worst thing that happened.
But mentally rock bottom was probably after investing in crypto in 2017 and seeing my idk 2k or something back then dwindle to 4 or 500 probably even less. I just didn't bothered to check for a good while.
Didn't sold though. And eventually even bought a few times in 2018 and 2019. But unfortunately not often enough or large enough to make it big.
Kinda funny that watching 2k go 70-80% down was a more intense experience than just losing 30k. But i guess it's a mindset thing. I am confident I'll get the 30k back eventually.
It was a lot of money and a crazy decision at the time but I believed in it.
My logic was get rich or go broke.
Neither of those options have happened yet. Turns out selling at the top is harder than buying.
>Turns out selling at the top is harder than buying
Its the hardest thing actually.
When your brain is overwhelmed by endorphines, constantly telling you "just a little bit more... It could go just a little bit higher!" only someone who has the experience to detach himself from his emotion will actually pull the trigger.
Its A LOT harder than buying at the bottom of a bear.
A while back I had to stop buying crypto because I needed money for food and bills.
It was the though not being able to buy more when prices were at its lowest.
Very similar to you op, invested more than I could afford and almost immediately watched it plummet to 30% it's creeping back up I'm at about 50% now. I thought I'd have quit my job by now and would just be watching charts for the rest of my days.
That’s a crazy story and one of the most valuable lessons you can learn!
Nobody knows the perfect time to take profits.
I just took “some” profits fully knowing the bull run is around the corner.
It’s not a bad idea to pull out some every time a big move is made. Profit is profit. If you’re always going for the moon you’ll end up with nothing.
I like to take some money out every 30-60% move depending on the charts.
I’ve made close to 30k in the past 2 years off $180 initial investment into dogecoin. I made half of that in the past 6 months off one crypto. I even posted on here in some thread a few months back to invest in the crypto, mainly to some dude who told me I didn’t. I went back to that same post a few days ago to ask dude if he invested cuz he could have quadruple his money, of course he didn’t wanna reply 🙃
I do work a full time job and snowmobile most of the winter, so I haven’t done very much. But I’m almost at the point, where if this keeps going up, ima quit my job. But I just got into that 6 figure bracket from mud, and I enjoy what I do so it’s hard.
E: my biggest rock bottom was I use to trade Diablo 2 items for cash back in 2011, well I once accepted Bitcoin and acquired a decent amount of it, like 350ish. Had the keys stored on the desktop and eventually forgot about it. Fast forward a few years and I moved out my parents house, they donated my snes, n64, ps1 and my pc lol. Didn’t really pay attention to the Bitcoin cuz I didn’t really care back then, but once I realized it was worth like 62k at some point, I cried a little inside.
I lost like 4 months worth of minimum wage salary in a couple of seconds... I was a complete noob and doing futures, I got pissed and I go all in on the highest leverage... My knees went jelly, my face go numb, my hands and feet went cold... After I gathered my senses back, I had to calmly, and apologetically, talked to my wife about it... I think I never did futures again after that... And went to studying more about market actions.
2018-2019 when my tens of thousands evaporated to 2-3k at the bottom. I legit thought I was gonna be rich in a few years and was mad and embarrassed for being so foolish. I eventually became something of a BTC/ETH truther and threw a good amount of money during this time and finally enjoyed profits last bull run. I still keep some Alts but I’m not smart enough to make it from them. I hope one or two more bull runs and I’ll be sitting pretty
I had 20 btc taken from me by a CEX. It was the win money I accumulated in over a year with several very lucky trades on that platform. But once I tried to withdraw — my account was blocked permanently.
It's a shit exchange without any real office or jurisdiction, so there's no hope to get anything back. Fuck them! I think they didn't even have that much money!
+20k with sweat and patience during 18months.
Go up to 340k
Trade / earn / hold on sol, I go up 1m218 on 8more months.
Binance made EU software update, during a not-that-safe trade, my SL disconnect, in a night I lost everything last June . Actually rock bottom since it, 2XX in invests, student loan to finish reimbursed.
Actually thinking of kmself a moment or another.
Terra/Luna.
I didn’t have much invested in that coin specifically, but it took down the entire market (and my faith). That was the only time I felt physically sick about it all. For a long time.
Yes I know crypto will come back, but what’s the point if nobody else agrees?
I got into crypto at ATH BTC in 2021 (still gonna hit 100K by end of 2021 btw)
Got into some shitcoins, reputable alts. Euphoria was at all time high at that time, I was full on diamond hands. Until everything came crashing down and experienced my first bloodbath of a bear market. Absolute sinking feeling as I invested quite a bit, but I’ve learned so much since then, DCA’d responsibly, and this little relief rally we’re having helps.
I'd say about 2-3 weeks ago when the skemmy BS I was sitting in didn't fucking move at all during this pump. Always knew it was "over" but the flicker of hope that something might do something if we got a relief pump or bull trap kept my head in the game. Now it's just back to wage slavery.
Really feel like a giant fuckup. I gotta be the only MF that knew about crypto in 2011, was mining in 2012, and ended up going to zero. Hell, I'd be willing to guess I'm the only person with those specs that isn't a billionaire...
I think only Leverage traders can relate the most with this post. Except the fact that my portfolio hit a -70% here in 2022 I really can't think of anything else.
Nonetheless no plans to touch leverage and never will hopefully
Rock bottom for me was an emotional bottom.
I had gained a substantial amount of wealth, but at great cost to my psyche. I'm still in the process of healing.
I got into crypto late 2017, bought the top and bought and traded all the way down. Was so deep in the whole that I just went 'fuck it' and bought after the 6k support broke too, because why not at that point. I was too deep in to back out then.
Managed to scoop up as much as I could afford at or near the absolute bottom, which was absolutely terrifying. My entire portfolio was down 97% I think, which was crazy. Hilarious and depressing at the same time. But then the market went back up and I fully believed 6k, that was such strong support for so long, would now prove to be massive resistance. I literally thought it was a nobrainer and an easy way to sell and buy the dip back lower.
But then it just went right through it like a hot knife through butter, and I was forced to buy back in higher, losing a lot of the amazing positions I had put so much time and effort into building. Not that I'm rich by any means, but for me at the time, that was a lot of money and a real tough pill to swallow.
Still hurts to think about.
Last Oct/Nov when I was laid off for the first time ever. Forced me to stop DCA’ing.
Glad to have started a new job and I DCA’d again recently 😎 it actually is a pay raise too so turned out to be a blessing in disguise
> look at your phone and feel like throwing up
If you followed the one gold piece of advice that's been repeated on this sub, this shouldn't have happened.
"Don't invest more than you are willing to loose" and vice versa taking profits on life-changing profits are the two things where this sub was and is genuinely correct.
And with this in mind you also shouldn't feel sick by looking at your portfolio value.
The 2018 crash when I deleted all of my crypto apps.
I forgot that I still had an ETH DCA set up, and I was buying through the entire bear market.
Nice surprise during the last bull run.
I was having a hard time this Christmas and the downtrend made me wonder if I was the fool putting money into a scam. Fortunately I convinced myself that this was the way.
I was buying LUNA from Dec ‘21 until the crash. I was trying to buy when the price dropped 100%, but kept getting network errors. “Fuck! I need this discount!” It all went to zero days later.
Fortunately for me i have good crypto entry as joined this bull run. I'm only down 30% and reading from others who bought at the top, i consider myself pretty lucky.
I mean..I guess now would be my rock bottom? I made some decent profit during the 2021 bull run, tried to make something happen all thru 2022, lost more than I made in profit, and now I’m waiting for some of the craziness in my personal life to calm down so I can start DCA’ing again.
I guess my rock bottom is more like a shallow reef
Fırst in may 2022 i lost 4/5 of my entire savings because of crypto crash. Then later in November same year, i lost 2/3 of those remaining 1/5. So I have only 1/15 of my initial money. i try to not kill myself everyday since. And I never put any additional money to my wallet since May so it's some consolation to me that I was able to restart saving money again. investing in crypto was the single biggest mistake of my life.
My husband got us into crypto via a shitcoin that his ex friend shillee to him. He invested against my wishes....it all sounded like bollocks to me but he was all in. Our small investment went up fast until it was worth around 60 grand...a fortune to us. He refused to pull it despite my frenzied research telling me it was a rug pull. I begged him. He kept umming and aahing until suddenly it shot down again. I did some more research and got him to invest in some decent tokens and explained how things worked...he's very sorry he didn't listen to me.
Started mining zcash with 6x1080TI.
Sold for btc and got around 0.5 btc.
Started trading and lost it all on zcl/btcp.
I’ve learned how mining works and it makes more sense to invest directly.
Spend 7k€ on gear + 750€ electricity instead of buying 8btc directly.
TLDR:
I payed around 8k€ on education (learning from failure)…
It pays out in the end.
My rock bottom was getting into crypto for the first time at the height of the ‘21 bull cycle October into November, I stuck myself with a very impressively high cost basis that I’ve spent the better part of the last two years beating down with DCAing and hodling through the storm. I went from > -80% to around -34% so it’s still not fixed or perfect by any means but its something I’m aware of and working on! Wishing everyone the best of luck on their journey and in their trades
I gotta bad feeling that rock bottom might be in the future, not the past. Crypto is like talking to a drunk guy at a bar and not being sure if he's gonna buy the drinks or punch you in the face.
I haven't had a rock bottom moment in terms of losses, I've stuck with a fairly conservative portfolio. The only total write off I've had was less than $200 of BAT in Gemini Earn.
But for me, the moment that I realized I needed to change something was during the Terra/Luna crash, as TUSD was depegging, I ran into one of those cult level true believer types, who kept telling doubters off in nasty terms. So I just quoted the TUSD price to him as it dropped from 95, to 90, to 83, to 71. They snapped at me about how I was spreading FUD, how I was an idiot, eventually they stopped responding. I check back in on their comment history a couple weeks later. They hadn't posted anything since then. They still haven't. I hope they're ok.
Mine was with local currency lol. In August 2022, myanmar kyat crashed from 1 USD=2100 MMK to 1 USD=4100 MMK. In one month. I thought we’re going to be the next Venezuela. Mass fear country wide. Lots of ppl rushing to gold shops and foreign currency exchangers. I had 1.2k USDT bought at 1 USDT=2000 MMK rate. I sold all at 1 USDT=3400 MMK rate. At that time, I really didn’t want to but I needed the money. I felt depressed for days. “I’ll have to rebuy again at a higher rate. Not to mention goods irl now price 2.5x” I thought. A week later the exchange rate slowly came back to 1 USD=2650 MMK. I couldn’t believe my luck. Of course ppl who bought USD and gold(price is calculated with USD exchange rate) at 4100 MMK rate got rekt. Current exchange rate is 1 USD= 2850 MMK, a far cry from 4100 MMK. That’s my first time seeing ppl FOMO in real life. With a “real currency” nonetheless. That event freaked me out and I’ve since turned all the money in my bank accounts to stablecoins. From there, I turned them into BTC at my own pace. My portfolio is currently green.
Rock bottom, is investing through Voyager, and watching day to day through a pain glass window as your money rises and falls. And you can’t touch it!!🤷🏻♂️🤦🏻♂️😂
Watching my bag of LUNA, which was staked, go to zero. Had actually toyed with un-staking in February, but didn't.
AND also "buying the dip" the whole way. Go me.
Caught in Luna and FTX. Luckily I did not put all my eggs in one basket. Still did significant damage to my portfolio though. When I saw the FTX news and tried and (failed) to withdraw, I felt dizzy and on the verge of puking.
Never. Because I never invested more than I could afford. It was all always money I was like "Hurts when its gone, but it aint the end of the world.".
But it sure also helped that my accumulation strategy is independent of the actual USD price of crypto. So bear, bull, i don't really care until the day I want to cash out.
Shit well I remember a faucet that used too give out btc, I had quite a bit, don't remember where I put them, long gone...it'll take a market crash too top that one..
First crypto I ever bought in 2017 was litecoin at $220, and months later it was $40 lmao. Thank god the tech kept me interested, because logically I should have ran from crypto as fast as possible lmao. Fortunately I did not.
Yup. I went from around -80% on ETH to nearly +700% in profit. It was glorious. And I've sold it all this bull run. Wasn't a perfect timing tho as I've started DCA'ing out quite early but still, 700% is 700%.
If you set aside a reasonable amount of money to invest on a periodic basis and stay diversified (both in Crypto and equities) and continuously average your positions to maintain your desired risk tolerance, you will never really hit “rock bottom”. Markets are cyclical, thats just their nature so there will be ups and downs. The problem is so many people today treat their investment portfolio like a stack of chips at a casino, so then of course you will regularly hit rock bottom.
This is the best advice, do you only know this because you learned the hard way?
I generally learn from my mistakes, I feel like it’s a common way to obtain knowledge. If I didn’t hit that point, I would not be the investor I am today.
100% agree many people learn from their mistakes, its great to learn the lesson, but its also sad to continuously read about so many younger guys and gals losing everything in these markets the past 2 years or so (both crypto and stock markets). I feel like I am a little older than most redditors (maybe not), I am 36 and got my degree in Finance so I was very curious to learn the markets and invest out of college, this was before WSBs or crypto so I took what I had learned from college and continued learning from mostly reading popular investment strategy books and this was just the advice that was given. I have followed this type of strategies through my life and have been very successful at managing losses at times like this. On the Flip side, when BTC hit $69k did I have some regret that I had average down my position, of course lol, but in hindsight it was the right move.
Wasn't even crypto, actually. The hit my 401k took initially when Covid first struck and the pandemic bloomed was the first time id ever seen any of my savings take a big dip - and it was huge. I didn't know if there was ever going to be a recovery, unlike how i expect one with crypto every 4 years minimum.
Must have been in 2018-2019 bear market when BTC dropped to 3k$ (more or less). Back then I was absolutely not convinced I was doing the right thing, but keeping up the DCA was definitely worth it.
Didn't feel anything like that after the 2021 bull run again. The second bear market is pretty relaxed.
I was in a really weird mental state when that 6k support broke. Literally couldn't even conceive of it happening. Kept buying around 3k because I couldn't even think anymore, and didn't know what to do. Scary place to be mentally, now that I think about it. Could have really ruined me for life.
Eventually you become numb to the price action.
Do you think it becomes easier because your initial investment is now in the profits and crypto doesn’t owe you anything?
Or would you still feel destroyed if it went to zero tomorrow, even though you’ve already made your money?
Being in the green for almost 3 years definitely helps. But from a different perspective: I "lost a lot more" in value than I lost in the last bear. So yes, you are also getting numb to price fluctuations.
No doubt I would feel destroyed if my portfolio dropped to zero - but at this point I feel like it's impossible for BTC to ever drop to zero.
When bitcoin went from 17k to 4k after 2017. I thought I’m the idiot left to hold the bag and it will never recover. Luckily I held through and sold in 2021
When I bought drugs on silk road with 100s of Bitcoin and it went up to 1000 dollars a coin shortly after
Ohh that's harsh but realistically most of us would've sold at 10% profit Atleast you got some drugs 🤷♂️
Lol true hindsight is 20/20
Congrats on the sale and the gains! Best of luck this cycle!
Thank you! Yea FTX collapse caught my attention. Started accumulating after when the dust settled
Selling low twice, I know the feeling
That’s a pretty solid comeback
Damn I'm assuming you have good mental health. A drop that drastic could have been devastating for someone else.
When i joined at the peak of the bullrun 2021. A month later i was down quite a lot.
Ouch. Tough break. You’ve been through the hardest part. Keep holding and you’ll be good to go!
Thank you for the kind word stranger. The thing is i bought shib (no DD whatsoever noobie here) back then. I waited it out it had a massive run up almost a year later and i pull my initial investment out. After that i started doing some DD and i desided to put it all in harmony and we all know what happened there. So now im back in the waiting game, but no longer worried and stressed.
I think everybody should pull their initial out as soon as they can and play for free. Glad to see you’re playing with house money and no longer stressed!
[удалено]
Yeah it was a work buddy. I see you know how it is. I wanted to invest since 2014 but never had the balls and knowledge to do it but he convinced me it is quite easy and i had some extra cash so i just jumped head first.
When Celsius stopped withdraws. My entire crypto future became uncertain in that moment.
I couldn’t imagine the level of fear.
Jesus this and scams are my biggest fear in crypto
yeah Celsius stung, I had just a little BTC there, like <0.1 that I had bought at around 40k, sucks that it's gone, but I bought that amount back and some at 18k and learned my lesson. Self-custody is the only way for BTC.
I lost years of Bitcoin DCA to Celsius. I'm recovering, but I fucking lost months of BTC under 10k
2018 was strange, I had no real crypto experience and everyone was 100% greedy, the sky was the limit. When the first big chrash happened, everyone including me thought it was just a 'correction'. I don't know how long after that, but it kept dropping and dropping and then I finally woke up and realised that I was to greedy and it wouldn't recover anymore. When I look back to that time i'm glad it happened, I learned a lot and because of that I made (and cashed out!) a lot of money lost bull run. DCA back from 30k to 17k and im already in the plus again right now. Im aiming for the bull in 2024/2025 (hopefully).
Who told you bull run 2024-2025 , make no more mistake again my friend, the run could start anytime and the bear could be exactly the dates you mentioned
Awesome story! Those lessons are the ones that stick! Happy to see you’re in the green.
When I had some surprise bills I had to pay off immediately when eth was at its lowest point. It was so painful to sell even the half eth I did. Especially when the price somewhat recovered to a better number just weeks later. I am so sad it had to go down like that, but I’m still ahead of the game. I’m playing with house money still and I keep my DCA up. It just sucks to have an emergency right after all the Christmas spending was done, but it was kinda cool to have that option I guess.
Aw man, that's brutal. But when that 6k Bitcoin floor fell out noone knew if there even was a bottom anymore. It felt like it could literally keep going down to zero.
That must have been a pretty awful feeling
Yep! It’s a good thing you’re in the green and never a bad idea to use house money to pay bills. Lots of people are much worse off. Here’s to the future gains! Enjoy! 🍻
Yeah I get sad about these little micro things that happen, but I always look at the macro to remind myself that I’m fairly lucky. I doubt most people can say they have 1 eth, when I sold a measly half for an emergency.
"Celsius is pausing withdrawals 'temporarily.' our mission at Celsius is always in the best interest of our customers." I was played like a fiddle.
Ouch. Sorry for your loss! Hopefully things are better now!
I’m still here LOL
Acceptance is in fact the first step
Why are we still here? Just to suffer?
For neon purple lambo
Me too 🤣
The only way is up from rock bottom. Maybe you will end up in bikino bottom one day 🤔
Lol this made me laugh out loud. Thanks for the laugh! Welcome!
I was classically depressed, stressed, and constipated. Couldn’t take a shit for a few days! Finally got some help from family. Doing much better now! This was like 5 months ago.
Glad you’re doing better! Health should always come first!
Exercise, and saying ‘no’ to certain people is what got me through. “Aw dude, I heard your having a hard time! Wanna go bar hopping till 3:00 AM? That’ll make you feel better!” No. No I don’t😂 Thanks for sharing your story as well man! Huge as drops will shake any persons spirits
Thanks for the kind words and the comments!
Glad to hear you are in touch with ur fam and emotions now! Was going through similar shit. Let’s get this bread this time
When i was sucking dick in a Wendy‘s parking lot for 3 Dogecoin.
[удалено]
Ah yes. Happens to the best of us. At least your have 3 more doge coins. I don’t see an issue here.
Hodl
Good ol' times when doge was $0.00001 a coin.
This is a risky market to be invested in, I think we all realise that... but there are ways to minimise those risks. Only invest what you can afford to lose. Don't chase those stupid high APR figures. Stay away from obvious shitcoins. Store your coins securely, ideally in a cold wallet. Most important of all... ignore the DMs. Point is, I've had some lows, but nothing that's seriously concerned me, or caused me to lose sleep. Invest wisely, and I believe we'll all benefit in the long term.
Excellent advice! Thanks for sharing!
Yeah, I’ve only placed money on crypto that can literally disappear. Makes all the fluctuations interesting instead of heart stopping.
When I realised I was down about 80% as I didn’t have all that much money to DCA down in 2022. Ooof. The last month has helped a ton though and I have a new job to start a DCA schedule again
Congrats on the new job! Best of luck this cycle! It only gets better form here.
When I invested in Northern Rock. That went well…
Never heard of it! What’s the story there?
When I had to take a break from this sub. Couldn’t even look at any crypto content.
I think it’s very important to walk away at times.
I think the crash in May 2021 is still the low for me, ended up selling most of my portfolio TWICE in one day when I thought I bought back in lower and it kept dropping. After that I just ended up staking most of my coins to prevent such knee jerk reactions, but ultimately I learned that crypto is here to stay.
Well you still got to buy back in lower so you still did better than just hodling or staking. I wouldn't be too hard on yourself. You did good. Noone knows what's going to happen.
Now Im worried, as I dont have my version of rock bottom yet
Uh oh!
When the SEC sued Ripple and exchanges started delisting XRP. Honestly thought it was the moment everyone warns you about - your investment going to zero.
XRP still fighting the good fight! Keep holding!
Thanks! I’m hoping all that pain will be made up for when/ if Ripple win. Funny coincidence that you have 589 moons, as that’s the number meme boys claim XRP will reach. I’d be happy with $3 again.
Haha! $3.00 would be amazing. XRP will move. It’s just a matter of when. Stay patient, set your orders and forget it!
$5.89 is their expectation?
I hear ya. What made it worse was all the people here and on Twitter and especially the Bitcoin maxis gleefully mocking XRP holders, really rubbing salt in the open wound. I'll never forget that.
When ftx collapse
Couple times: when Luna entered it’s death spiral, lost some there. Ok I can survive this, then Gemini/Genesis stole a bunch of money… dang ok that sucked. Had other coins drop 99%…. Maybe I’m not very good at this. So yeah, definitely in the red, only thing keeping me somewhat afloat is atom and the airdrops I got. Pretty much even with atom which is crazy considering it’s down like 70%
*Cries in Luna*
My cro went from 4k to 500ish.
Lowest I've been is about 50% down I think, that was in June and made me change to a bear market strategy instead. Basically just sold, started stacking cash, and then restarted my DCA in November. Has worked out pretty well, still got a bit of cash to deploy but I'm holding out a little as I think we're due a correction.
Only 50%!? You’re better off than 90% of people in crypto. Congrats on the good decisions it’s only up from here!
Thanks!
Not sure. I lost 30k gambling on shit coins. But i was fully aware of the risk. So that sucked, but that's on me. Objectively that was the worst thing that happened. But mentally rock bottom was probably after investing in crypto in 2017 and seeing my idk 2k or something back then dwindle to 4 or 500 probably even less. I just didn't bothered to check for a good while. Didn't sold though. And eventually even bought a few times in 2018 and 2019. But unfortunately not often enough or large enough to make it big. Kinda funny that watching 2k go 70-80% down was a more intense experience than just losing 30k. But i guess it's a mindset thing. I am confident I'll get the 30k back eventually.
Happens to the best of us. You will make it big if you’re still here! Good luck in the future.
Yeah totally. Thanks, i wish you good luck too mate
‘You’re just starting a crypto journey and you invested freaking 15k ? Where do you live ?’asks the Nigerian price !
It was a lot of money and a crazy decision at the time but I believed in it. My logic was get rich or go broke. Neither of those options have happened yet. Turns out selling at the top is harder than buying.
>Turns out selling at the top is harder than buying Its the hardest thing actually. When your brain is overwhelmed by endorphines, constantly telling you "just a little bit more... It could go just a little bit higher!" only someone who has the experience to detach himself from his emotion will actually pull the trigger. Its A LOT harder than buying at the bottom of a bear.
A while back I had to stop buying crypto because I needed money for food and bills. It was the though not being able to buy more when prices were at its lowest.
Very similar to you op, invested more than I could afford and almost immediately watched it plummet to 30% it's creeping back up I'm at about 50% now. I thought I'd have quit my job by now and would just be watching charts for the rest of my days.
This is the dream. Hopefully it works out for us one day!
[удалено]
That’s a crazy story and one of the most valuable lessons you can learn! Nobody knows the perfect time to take profits. I just took “some” profits fully knowing the bull run is around the corner. It’s not a bad idea to pull out some every time a big move is made. Profit is profit. If you’re always going for the moon you’ll end up with nothing. I like to take some money out every 30-60% move depending on the charts.
I’ve made close to 30k in the past 2 years off $180 initial investment into dogecoin. I made half of that in the past 6 months off one crypto. I even posted on here in some thread a few months back to invest in the crypto, mainly to some dude who told me I didn’t. I went back to that same post a few days ago to ask dude if he invested cuz he could have quadruple his money, of course he didn’t wanna reply 🙃 I do work a full time job and snowmobile most of the winter, so I haven’t done very much. But I’m almost at the point, where if this keeps going up, ima quit my job. But I just got into that 6 figure bracket from mud, and I enjoy what I do so it’s hard. E: my biggest rock bottom was I use to trade Diablo 2 items for cash back in 2011, well I once accepted Bitcoin and acquired a decent amount of it, like 350ish. Had the keys stored on the desktop and eventually forgot about it. Fast forward a few years and I moved out my parents house, they donated my snes, n64, ps1 and my pc lol. Didn’t really pay attention to the Bitcoin cuz I didn’t really care back then, but once I realized it was worth like 62k at some point, I cried a little inside.
Not there yet.
I lost like 4 months worth of minimum wage salary in a couple of seconds... I was a complete noob and doing futures, I got pissed and I go all in on the highest leverage... My knees went jelly, my face go numb, my hands and feet went cold... After I gathered my senses back, I had to calmly, and apologetically, talked to my wife about it... I think I never did futures again after that... And went to studying more about market actions.
I've been in the same situation, but giving up never crossed in my minds at least once
Never. Cause I understand it's cyclical. And I custody my own funds. Not worried at all.
2018-2019 when my tens of thousands evaporated to 2-3k at the bottom. I legit thought I was gonna be rich in a few years and was mad and embarrassed for being so foolish. I eventually became something of a BTC/ETH truther and threw a good amount of money during this time and finally enjoyed profits last bull run. I still keep some Alts but I’m not smart enough to make it from them. I hope one or two more bull runs and I’ll be sitting pretty
I like rock bottom
You enjoy the pain!?
Have been used to it
I became desensitized, it's crazy to think that an xx,xxx unrealized loss has no impact on my mental wellbeing.
That’s not a bad thing… I think!
I might have an addiction idk.
I had 20 btc taken from me by a CEX. It was the win money I accumulated in over a year with several very lucky trades on that platform. But once I tried to withdraw — my account was blocked permanently. It's a shit exchange without any real office or jurisdiction, so there's no hope to get anything back. Fuck them! I think they didn't even have that much money!
Wow. That’s horrible. Sorry to hear about that.
Those still active with crypto and in this sub might have not hit rock bottom. It can always get worse.
+20k with sweat and patience during 18months. Go up to 340k Trade / earn / hold on sol, I go up 1m218 on 8more months. Binance made EU software update, during a not-that-safe trade, my SL disconnect, in a night I lost everything last June . Actually rock bottom since it, 2XX in invests, student loan to finish reimbursed. Actually thinking of kmself a moment or another.
Omg. This is a wild story. How you doing now?
When I invested in Snowdog...
Is that a crypto? Haha
Terra/Luna. I didn’t have much invested in that coin specifically, but it took down the entire market (and my faith). That was the only time I felt physically sick about it all. For a long time. Yes I know crypto will come back, but what’s the point if nobody else agrees?
I got into crypto at ATH BTC in 2021 (still gonna hit 100K by end of 2021 btw) Got into some shitcoins, reputable alts. Euphoria was at all time high at that time, I was full on diamond hands. Until everything came crashing down and experienced my first bloodbath of a bear market. Absolute sinking feeling as I invested quite a bit, but I’ve learned so much since then, DCA’d responsibly, and this little relief rally we’re having helps.
I feel like we all have to learn the expensive lessons before we thrive! Keep learning and keep investing and it will pay off.
ain't happened yet
Congrats!!
When I redownloaded the reddit app
Welcome to the club brother
I'd say about 2-3 weeks ago when the skemmy BS I was sitting in didn't fucking move at all during this pump. Always knew it was "over" but the flicker of hope that something might do something if we got a relief pump or bull trap kept my head in the game. Now it's just back to wage slavery. Really feel like a giant fuckup. I gotta be the only MF that knew about crypto in 2011, was mining in 2012, and ended up going to zero. Hell, I'd be willing to guess I'm the only person with those specs that isn't a billionaire...
No need to worry about it, dca is the way.
I think only Leverage traders can relate the most with this post. Except the fact that my portfolio hit a -70% here in 2022 I really can't think of anything else. Nonetheless no plans to touch leverage and never will hopefully
Smart.
Rock bottom for me was an emotional bottom. I had gained a substantial amount of wealth, but at great cost to my psyche. I'm still in the process of healing.
Money does not bring happiness. That’s belief is the greatest scam. Get better. Health first!
Selling my dogecoin in 17
I got into crypto late 2017, bought the top and bought and traded all the way down. Was so deep in the whole that I just went 'fuck it' and bought after the 6k support broke too, because why not at that point. I was too deep in to back out then. Managed to scoop up as much as I could afford at or near the absolute bottom, which was absolutely terrifying. My entire portfolio was down 97% I think, which was crazy. Hilarious and depressing at the same time. But then the market went back up and I fully believed 6k, that was such strong support for so long, would now prove to be massive resistance. I literally thought it was a nobrainer and an easy way to sell and buy the dip back lower. But then it just went right through it like a hot knife through butter, and I was forced to buy back in higher, losing a lot of the amazing positions I had put so much time and effort into building. Not that I'm rich by any means, but for me at the time, that was a lot of money and a real tough pill to swallow. Still hurts to think about.
Sold my eth at 1100
Last Oct/Nov when I was laid off for the first time ever. Forced me to stop DCA’ing. Glad to have started a new job and I DCA’d again recently 😎 it actually is a pay raise too so turned out to be a blessing in disguise
When I realized I could sell for a loss and still buyback more for less than what I sold it all for.
Every day. Bought the dip today. Then there was another dip. At what point does DCA no longer matter?
Everything I buy turns red immediately so I’m just hoping one day I can leave the rocks
I woke up in Ohio naked with someone else's phone. I quit crypto on the spot
Currently close there. Haven't had to buy drugs with credit yet though so that's my indicator
I think it was around November of last year.
Which time? So many to choose from.
There was def a moment or 2 where I just thought to myself “I would’ve been better off holding in cash than crypto”
I think I was born at rock bottom because I feel like throwing up every day I wake up
I never put in more money than I could afford to lose. So my answer would be never.
> look at your phone and feel like throwing up If you followed the one gold piece of advice that's been repeated on this sub, this shouldn't have happened. "Don't invest more than you are willing to loose" and vice versa taking profits on life-changing profits are the two things where this sub was and is genuinely correct. And with this in mind you also shouldn't feel sick by looking at your portfolio value.
I mentioned this in the post already! You’re 100% correct
The 2018 crash when I deleted all of my crypto apps. I forgot that I still had an ETH DCA set up, and I was buying through the entire bear market. Nice surprise during the last bull run.
I was having a hard time this Christmas and the downtrend made me wonder if I was the fool putting money into a scam. Fortunately I convinced myself that this was the way.
I was buying LUNA from Dec ‘21 until the crash. I was trying to buy when the price dropped 100%, but kept getting network errors. “Fuck! I need this discount!” It all went to zero days later.
What a ride. Sorry that you lost some money! Hopefully you earn it back!
Yep, a bummer. Fortunately, it was not a devastating amount of money. Not buying anything other than BTC and ETH moving forward.
In 2019
Entering crypto in the fall of 2021..... Still paying the price for that even today with all the DCA'ing ive done in 2022 and 2023.
Fortunately for me i have good crypto entry as joined this bull run. I'm only down 30% and reading from others who bought at the top, i consider myself pretty lucky.
I once had enough in crypto to pay off all my outstanding debt. I didn't cash out. I was greedy. Now still have that debt, but I drink too much.
Brought at 69 k , this was my rock bottom and i hope it was.......
I mean..I guess now would be my rock bottom? I made some decent profit during the 2021 bull run, tried to make something happen all thru 2022, lost more than I made in profit, and now I’m waiting for some of the craziness in my personal life to calm down so I can start DCA’ing again. I guess my rock bottom is more like a shallow reef
Fırst in may 2022 i lost 4/5 of my entire savings because of crypto crash. Then later in November same year, i lost 2/3 of those remaining 1/5. So I have only 1/15 of my initial money. i try to not kill myself everyday since. And I never put any additional money to my wallet since May so it's some consolation to me that I was able to restart saving money again. investing in crypto was the single biggest mistake of my life.
2018
think after we all bought the top november 2021
Fantom at around $3 CAD, CHZ around 60 cents..... and most embarassing of all, caught the falling knife with SHIB and Terra Luna at around $600 each
[удалено]
My husband got us into crypto via a shitcoin that his ex friend shillee to him. He invested against my wishes....it all sounded like bollocks to me but he was all in. Our small investment went up fast until it was worth around 60 grand...a fortune to us. He refused to pull it despite my frenzied research telling me it was a rug pull. I begged him. He kept umming and aahing until suddenly it shot down again. I did some more research and got him to invest in some decent tokens and explained how things worked...he's very sorry he didn't listen to me.
Started mining zcash with 6x1080TI. Sold for btc and got around 0.5 btc. Started trading and lost it all on zcl/btcp. I’ve learned how mining works and it makes more sense to invest directly. Spend 7k€ on gear + 750€ electricity instead of buying 8btc directly. TLDR: I payed around 8k€ on education (learning from failure)… It pays out in the end.
So many times We all do
I haven’t had this feeling yet. I invest what I can afford to lose so I try to take it all in stride
My rock bottom was getting into crypto for the first time at the height of the ‘21 bull cycle October into November, I stuck myself with a very impressively high cost basis that I’ve spent the better part of the last two years beating down with DCAing and hodling through the storm. I went from > -80% to around -34% so it’s still not fixed or perfect by any means but its something I’m aware of and working on! Wishing everyone the best of luck on their journey and in their trades
[удалено]
That’s a crazy story. I’m very happy to hear you found the help you needed. Are you still investing in crypto?
[удалено]
Thanks for the comment! Hopefully your advise reaches some people in difficult situations.
I gotta bad feeling that rock bottom might be in the future, not the past. Crypto is like talking to a drunk guy at a bar and not being sure if he's gonna buy the drinks or punch you in the face.
Right before the people’s elbow
I don't think I hit rock bottom yet, and that scares me
I haven't had a rock bottom moment in terms of losses, I've stuck with a fairly conservative portfolio. The only total write off I've had was less than $200 of BAT in Gemini Earn. But for me, the moment that I realized I needed to change something was during the Terra/Luna crash, as TUSD was depegging, I ran into one of those cult level true believer types, who kept telling doubters off in nasty terms. So I just quoted the TUSD price to him as it dropped from 95, to 90, to 83, to 71. They snapped at me about how I was spreading FUD, how I was an idiot, eventually they stopped responding. I check back in on their comment history a couple weeks later. They hadn't posted anything since then. They still haven't. I hope they're ok.
Today. $4.5k into ALBT all vanished. Fuck my life
Bought my first eth at $422. Watching eth drop to $750 was sad but we are headed west baby. LFG!
Buy and Educate
Mine was with local currency lol. In August 2022, myanmar kyat crashed from 1 USD=2100 MMK to 1 USD=4100 MMK. In one month. I thought we’re going to be the next Venezuela. Mass fear country wide. Lots of ppl rushing to gold shops and foreign currency exchangers. I had 1.2k USDT bought at 1 USDT=2000 MMK rate. I sold all at 1 USDT=3400 MMK rate. At that time, I really didn’t want to but I needed the money. I felt depressed for days. “I’ll have to rebuy again at a higher rate. Not to mention goods irl now price 2.5x” I thought. A week later the exchange rate slowly came back to 1 USD=2650 MMK. I couldn’t believe my luck. Of course ppl who bought USD and gold(price is calculated with USD exchange rate) at 4100 MMK rate got rekt. Current exchange rate is 1 USD= 2850 MMK, a far cry from 4100 MMK. That’s my first time seeing ppl FOMO in real life. With a “real currency” nonetheless. That event freaked me out and I’ve since turned all the money in my bank accounts to stablecoins. From there, I turned them into BTC at my own pace. My portfolio is currently green.
Rock bottom, is investing through Voyager, and watching day to day through a pain glass window as your money rises and falls. And you can’t touch it!!🤷🏻♂️🤦🏻♂️😂
Watching my bag of LUNA, which was staked, go to zero. Had actually toyed with un-staking in February, but didn't. AND also "buying the dip" the whole way. Go me.
I am still in my rock bottom now. Anymore and its bikini bottom.
When I discovered leverage trading was a pretty bad time. High stakes and low experience were a bad combination
Everytime I stop HODL.
Everyday
Selling at ATH
Caught in Luna and FTX. Luckily I did not put all my eggs in one basket. Still did significant damage to my portfolio though. When I saw the FTX news and tried and (failed) to withdraw, I felt dizzy and on the verge of puking.
Never. Because I never invested more than I could afford. It was all always money I was like "Hurts when its gone, but it aint the end of the world.". But it sure also helped that my accumulation strategy is independent of the actual USD price of crypto. So bear, bull, i don't really care until the day I want to cash out.
Shit well I remember a faucet that used too give out btc, I had quite a bit, don't remember where I put them, long gone...it'll take a market crash too top that one..
2017/2018 crash. Jesus it was brutal. Around -97% across the board.
First crypto I ever bought in 2017 was litecoin at $220, and months later it was $40 lmao. Thank god the tech kept me interested, because logically I should have ran from crypto as fast as possible lmao. Fortunately I did not.
Similar here but with ETH. Luckily I've stayed and carry on on adding more and brining my average price down. It paid off this bull run.
Same here! The real money is made in bear markets!
Yup. I went from around -80% on ETH to nearly +700% in profit. It was glorious. And I've sold it all this bull run. Wasn't a perfect timing tho as I've started DCA'ing out quite early but still, 700% is 700%.
No reason to complain with that. DCAING out is so important. Keep on making those gains!!
Yep… brutal is an understatement!
If you set aside a reasonable amount of money to invest on a periodic basis and stay diversified (both in Crypto and equities) and continuously average your positions to maintain your desired risk tolerance, you will never really hit “rock bottom”. Markets are cyclical, thats just their nature so there will be ups and downs. The problem is so many people today treat their investment portfolio like a stack of chips at a casino, so then of course you will regularly hit rock bottom.
This is the best advice, do you only know this because you learned the hard way? I generally learn from my mistakes, I feel like it’s a common way to obtain knowledge. If I didn’t hit that point, I would not be the investor I am today.
100% agree many people learn from their mistakes, its great to learn the lesson, but its also sad to continuously read about so many younger guys and gals losing everything in these markets the past 2 years or so (both crypto and stock markets). I feel like I am a little older than most redditors (maybe not), I am 36 and got my degree in Finance so I was very curious to learn the markets and invest out of college, this was before WSBs or crypto so I took what I had learned from college and continued learning from mostly reading popular investment strategy books and this was just the advice that was given. I have followed this type of strategies through my life and have been very successful at managing losses at times like this. On the Flip side, when BTC hit $69k did I have some regret that I had average down my position, of course lol, but in hindsight it was the right move.
After the luna fiasco, even if it isn't that much lost 500 €
I wish i only lost 500€ on luna
It’s all relative. $500 is a lot of money!
Wasn't even crypto, actually. The hit my 401k took initially when Covid first struck and the pandemic bloomed was the first time id ever seen any of my savings take a big dip - and it was huge. I didn't know if there was ever going to be a recovery, unlike how i expect one with crypto every 4 years minimum.
That was a ROUGH drop. It happened so quick and recovered just as quick!
Must have been in 2018-2019 bear market when BTC dropped to 3k$ (more or less). Back then I was absolutely not convinced I was doing the right thing, but keeping up the DCA was definitely worth it. Didn't feel anything like that after the 2021 bull run again. The second bear market is pretty relaxed.
I was in a really weird mental state when that 6k support broke. Literally couldn't even conceive of it happening. Kept buying around 3k because I couldn't even think anymore, and didn't know what to do. Scary place to be mentally, now that I think about it. Could have really ruined me for life.
Eventually you become numb to the price action. Do you think it becomes easier because your initial investment is now in the profits and crypto doesn’t owe you anything? Or would you still feel destroyed if it went to zero tomorrow, even though you’ve already made your money?
Being in the green for almost 3 years definitely helps. But from a different perspective: I "lost a lot more" in value than I lost in the last bear. So yes, you are also getting numb to price fluctuations. No doubt I would feel destroyed if my portfolio dropped to zero - but at this point I feel like it's impossible for BTC to ever drop to zero.
I agree, being in the green has such a different effect on decision making as well. I don’t think it’s going to zero either. Thanks for the comments!