
Lost so much $ on cryptocurenecy . what to do - hamiltonians
I invested a w 6-figure number on bitcoin and etherum 2 months ago. Watched a profit turn into a large loss. Pretty uh I am paralyzed.  Work going downhill. My life feels ruined Any advice
======
drukenemo
Had lunch with an investment advisor yesterday, here's what he told me: if a
client of his is suffering from losses, and also worrying that they may lose
more, he tells them to sell their position. You eat up your loss, but earn the
_relief_ from the day to day stress, fearing to lose more.

I thought this was sound advice.

Take your mistakes as lessons learned. Many lessons learned are extremely
tough. Everyone goes through many of these throughout their lives. They're
still a lesson nonetheless. This shall pass, you've lost money, but gained in
experience. You've tried something. Taking risks is an essential thing in life
if you want to grow from your status quo. It's a matter of learning to better
assess the risks the next time. Your past and present need not equal your
future.

Money is abundant. Skills are more rare. Focus on skills that enable you to
grow. Learn to take better risks the next time and you increase the odds to
your favor in the future.

All the best to you.

~~~
pc86
The alternative (and better) advice is that if you have the funds to support
it, buy more. It lowers your cost basis so the required rebound for you to
break even is less. The obvious pitfall is that a continued decline means you
lose even more, trying to catch a falling knife, etc etc. But for things like
the stock market _generally_ , as opposed to a specific stock or any
cryptocurrency, this is a safe bet in the long term, provided you're not
gambling with money you can't afford to lose.

~~~
celticninja
I think this makes sense in the stockmarket which is much more established
than cryptocurrencies which are not. The stockmarket is unlikely to ever fall
to 0 and if it does then there are much bigger issues going on that you don't
need to worry about it. But bitcoin or ethereum could well plummet to single
digits and you could lose your entire investment. This guy invested a lump sum
and if he isnt happy to lose it all he should withdraw what he can and cut his
losses. If he didnt take a loan out, or used cash that was otherwise going to
be use for investing it may be adviseable to hold onto it for 12-24 months and
check back then.

------
frgtpsswrdlame
You should get a financial adviser. Your problem is that you didn't understand
your own risk tolerance. There is no such thing as free money and as you get
higher and higher returns, you're accepting higher and higher risk. When you
invested in crypto you were thinking about returns but not about the risks (in
all fairness crypto evangelists never advertise this half of the equation.) So
go get a financial adviser and talk with him about your risk tolerance, how
big of a dip in your portfolio can you withstand, that sort of stuff. That'll
help you going forward with your money.

As for now, well you're in a bit of psychological bind. No one knows whether
crypto is going to be $6000 tomorrow or $8000 and no one knows what it might
be in a month. You can't time the market - whether that makes you hold or sell
(or partial sale), that's your own decision but you'll have to live with it so
really mull it over. If you do sell I would advise totally cutting any crypto
news out of your life, if you sit there and watch the price you'll feel sick,
no matter which way it goes and if it does peak over your sale price again
you'll constantly think you could have timed it (you couldn't have, that's why
you're not sure whether to sell or not now.) Also you need to keep work from
going downhill, at this point you need your cashflow. If that means a short
vacation to reset that's up to you but no watching crypto prices on vacation!

TLDR: you gambled and you're not a gambler. Don't do it again and keep your
job in good order.

------
jfaucett
You have a couple options. I'll list them in order of increasing risks, and my
order of recommendation.

1\. You can sell now and cut your rather massive losses - I'm guessing that's
around 40-50% of your initial investment based on a two month old purchase.
Advantage: You save any further losses and have no more continued stress (this
is big!).

2\. You set a price floor and/or ceiling and sell when it hits that level.
Same as above but you gain the ability to define a range for potentially
cutting losses at the risk of increasing them. The advantage here is you
decide the level of continued risk and lack of peace of mind you're willing to
live with.

3\. You settle in, accept you can lose every cent you invested, and just hold
long term, hoping that eventually (1 year, 5 years, 10 years?) you'll make
your money back.

One thing to keep in mind with all this is the opportunity cost of capital
i.e. a dollar today is worth more than a dollar tomorrow, 100k in a bank
account in 2017 is roughly equivalent to 130k in 2027, so if your investment
reaches a value of 100k in 2027 you'll still be operating at a rather large
loss.

~~~
cesarb
You can also do a hybrid approach. For instance, you can do option 1 with half
your stash and option 3 with the other half.

------
seibelj
You should look into a philosophy called stoicism. You have lost money, but it
sounds like you still have your health. Many people would trade every penny
they have and more to be able to walk, breathe, and live unencumbered. It's
only money - you can make more. Things can always be worse, and always be
better.

~~~
subtenante
Not to be pedantic, but Stoics do not attach to health either. Only virtue.

~~~
seibelj
Yes, I was trying to help him practice negative visualization, by imagining a
worse outcome than his current situation. But stoicism can greatly help you
with medical issues, many people have used its tenants to overcome
debilitating circumstances.

I think using a catastrophic medical event, like a terminal illness diagnosis,
is a good technique when trying to consider if a situation is really that bad.
Of course, a terminal illness diagnosis is also something that can be accepted
and overcome with stoic resolve, but it is a good yardstick for something like
losing a lot of money with an investment.

~~~
yesenadam
Sorry to maybe be off topic..

Gee, almost every day, or multiple times a day, I read mention of Stoicism
(usually M Aurelius, occasionally Seneca) on HN. And almost never any other
type of philosophy (in the _wisdom of life_ sense).. I guess Ayn Rand a few
times. I wonder why that is. It's surprising because I don't think I came
across anything about Stoicism more than once every year or two before I came
on here.

------
uptown
I'm not qualified to provide the kind of support you may need, but try to
maintain some perspective that any investment that you've lost is of little
significance compared to your life, your passions, your interests and
everything else this world has to offer.

Please speak with your family and friends, and if you need professionals to
help you cope with what you're feeling, give the National Suicide Prevention
Hotline a call.

[https://suicidepreventionlifeline.org/](https://suicidepreventionlifeline.org/)

------
icedchai
You're never "investing" in crypto. You're gambling.

How badly do you need the money? What percentage of your net worth did you put
into crypto? I advise keeping less than 10% in speculative assets.

~~~
rmwaite
This is a foolish thing to say. If you follow your line of reasoning all
investment is gambling.

~~~
icedchai
Not really. My line is reasoning is that crypto has no fundamentals to support
it. When you invest in a stock, you have financial metrics: revenue, profit,
assets, cash flow, and other business activity... something you can equate to
actual monetary value.

Most crypto behaves like a penny stock, with the same sort of pump-and-dump
schemes, relatively low volumes, and many people trading on hype, hoping to
get rich quick. Bitcoin swings wildly for almost any reason, or no reason at
all.

Yes, you can make money with it, but I wouldn't suggest anyone invest the
majority of their cash into it.

------
pliftkl
You're one of the first people I've seen on the internet actually admit this.
Over the last month, as the price has dropped, many people have pointed out
"sure, it's dropped - back to November price levels". Which is fine if you
invested a year ago, not so much if you invested in December. When I sold six
weeks ago, there was someone on the other side buying, and they are clearly
not happy now.

------
daemin
Same thing applies to the stock market. You have 2 options:

Sell now and accept the loss and move on. This will be a hard thing to accept
but you will not have lost everything.

Suck it up and wait for it to appreciate further. This may take years or you
could lose the lot.

Edit: I am not a financial adviser.

~~~
daemin
Edit #2: There's actually a third option. If you really believe that the price
will go up in the future and you're not in the need of the money for that
time, buy more.

------
autokad
I bought facebook at 25$/share shortly after IPO. It was getting hammered, and
I got scared out of it and sold at 22$. a year later it was in the 150s.

i bought alibaba for 115$/share shortly after its ipo. it sank like a rock
almost immediately after. it continued to the 60s I think, but i held onto it
because i believed in the story and its worth. I eventually sold at 185$/share
about a year later.

not sure if this helps you though, stocks and cryptos are fundamentally
different. I didnt look at current numbers, I looked at the story and what I
believed was ahead.

~~~
icedchai
This sounds like an exaggeration. Facebook didn't rise that quickly. The FB
IPO was in 2012, and it didn't get into the 150's until 2017.

There was plenty of time in between to get back in after seeing the uptrend.
(Full disclosure: I've been holding since 31.)

~~~
autokad
ops, bad memory, didnt realize that much time has gone by. it stuck in the 20s
for a year, the following year in 2014 it was in the mid 60s for a 3x return.
even from 2012 - 2017, you are still looking at 6x returns, which is very
good.

------
everdev
Sounds like a difficult time. Sorry to hear about your struggles.

Life is a long game. Investing is too. Unless you need the money to live, I'd
give yourself a timeframe like 6 months and sell your investment by then when
you feel the time is right. Don't panic though as 6 months is an eternity for
cryptocurrency.

Unfortunately huge losses and common with volatile investments. I have my
money in ETFs. When the cryptocoins are 10xing in value it's hard not to get
jealous but I prefer relative safety vs huge swings.

Same thing in life. It might help to check your happiness in 2 weeks, a month,
3 months. It seems like forever when things aren't going well, but it's not
that long in terms of a long life.

It also never hurts to find a coach or counselor you can talk to in person.
$100-150/hr sounds like a lot but with the right person you can get a lot of
value too and hopefully a fresh perspective.

------
berberous
You need PERSONAL advice here. How old are you? How much other money do you
have? What's your earning potential? Wife? Kids? Risk tolerance?

PERSONALLY, if it were me, I would hold on, and I'd bet you will get back to
being in the black. That said, you need to understand this is an EXTREMELY
risky investment, and it could essentially go to zero just as easily as BTC
could go to $50k. If you are not OK watching all that money go to zero, sell.
If you are not OK watching BTC go to $50k having sold it ALL, sell most of it,
and keep some.

Realize you have gambling tendencies, and make a plan to get out. You sound
like the kind of person who will double down when it gets up to $30K/BTC, and
then cry again when it crashes even harder.

Don't bet money you can't stomach losing in this space. There are WAY too many
failure modes.

------
Talyen42
50% drops in crypto happen 3-6 times a year. That's every 8 weeks. Get used to
regular crashes, or get out of the investment.

~~~
sundaeofshock
Which makes it a horrible investment. This isn't some minor correction; this
looks like a bubble popping. It is currently off 61.5% from it's high mark,
having given back all of it's gains from the last three months. The people who
drove it to it's previous highs are taking a beating right now; they are not
going to get back in and re-inflate this bubble.

Note: I am not financial advisor. Speak to a professional before you light
massive piles of money on fire.

(edited for spelling)

------
gressquel
I am so sorry to hear it. First you have to do is cut your losses. Sell all
the crypto and widthdraw them to your banks asap. Its all collapsing like a
house of cards.

Secondly, zoom out and reflect on your life. You have your health, probably a
caring family and new opportunities in life. Do something you like, and enjoy
your life.

------
troydavis
I am not a financial advisor and this is not advice. Consult a professional.

First, completely ignore anyone who says “I think it will go <up|down>, so you
should…” or “Sell when the time is right.”

Trying to time a momentum-driven investment and failing is what got you in to
this problem. The first step is acknowledging that this was a dumb thing to do
and that you don’t have any more skills at reading this market than anyone
else (and some random commenter sure doesn’t).

Second, that matters because it lets you reach this conclusion: your current
portfolio value is all that matters. You can’t undo the losses, but you have
complete control of what happens to the remaining principal. You bought a very
expensive lottery ticket, it didn’t win, and now all you can do is decide
whether to buy a second very expensive lottery ticket (hold) or learn from
your mistake and do something smarter, like actually investing this.

Ask whether, today, you can afford to have X% of your investable assets in a
single asset. Based on your post, it sounds like X is a large number, maybe
even over 50%.

Assuming you can't afford it, start here:
[https://www.fidelity.com/viewpoints/guide-to-
diversification](https://www.fidelity.com/viewpoints/guide-to-diversification)

Note that you don't need a plan in order to liquidate and hold cash. Don't get
hung up on not having a plan; cash is a fine asset.

The other reason acknowledging to yourself that you can’t time the market
matters is that, if you sell and then it goes back up, you shouldn’t feel any
worse about it than, say, if Google’s stock or some random smallcap stock went
way up and you didnt own it. You didn’t “miss out” on anything, you opted for
diversification and predictability - that is, market-average returns - ahead
of a lottery ticket.

(ObDisc: None of this is a commentary on cryptocurrencies, good or bad, only
on taking outsized risks with money one can’t afford to lose without caring.
OP’s remaining principal obviously is not that or s/he wouldn’t be here.)

Third, after dealing with the time-sensitive stuff, consider seeing a
therapist to see whether some underlying issue led you to take this much risk.
Not at all a value judgment, but taking huge risks with money you can’t afford
to lose may be a manifestation of self-destructive tendencies or at least a
sign that it’s time to make some changes in your normal life. Good luck.

PS in case it makes you feel a little better: many people have spent a larger
percentage of their assets self-funding a startup than you lost – and also
gave up years of their life and opportunity cost to do it. Life goes on. The
important part is to incorporate what you've learned into future decisions
(starting now), and to assess what led you to do this in the first place.

~~~
FarhadG
^^^ This is sound advice.

Focus your efforts on things in your control. To put your energy and efforts
into things outside of your control is not only irrational but it'll bring you
paralysis and misery.

------
msp_dude
I mined bitcoins for 2 weeks in Feb 2009, backed up to an unlabeled floppy,
and forgot about it. Until I accidentally crushed my then coaster and threw it
away 2 months ago. 550 coins.

My best advice is: no coffee, no booze, no drugs, try to sleep, exercise, See
a doctor, physical and mental. Pay a financial advisor and get an impartial (
not on this forum, opinion of what to do. ). Take a low stress vacation,
cruises are good, clearing your head is what vacations are for. Science says
you need AT LEAST 2 weeks to de-stress, so make it real. Either you take a
vacation, or your job takes a permanent one from you.

It's a loss, possibly not permanent, but it was a gamble. I had no gamble,
just an 8 figure loss.

------
cwperkins
I'm really perplexed as to why people would not want to buy into market
tracking ETFs or Blue chips that pay dividends. For a young person a portfolio
of this nature provides a healthy amount of risk while having historically
good returns. The crypto crazy is not regulated and extremely volatile, I
can't quite see how people are referring to it as an "investment" when there's
not a great way of computing intrinsic value as analysts do with company
valuations.

~~~
lykr0n
Because 500% gains look better than 10%, until you factor in the risk.
Coinbase and Robinhood make it easy for people to get into the crypto game
without understanding the risks. They see the big returns, and think the train
won't stop until after they get off. ETFs are graded from a 1 to a 5 for risk.
Crypto goes well beyond that scale.

I think it comes down to our nature to take $10 today and not $50 next year.
It's hard to send 10% of your income to a 401k knowing that that money is
locked away for another 40 years. This will, I think, naturally cause people
to dump money into stuff like Crypto; the line is going up and stories abound
of people turning $1k into $100k. Nobody reads beyond the headline to find out
that they held over years.

There is no warning on Coinbase saying "hey. you should not due this to the
extreme volatility" for any transaction over $500. And when you hit ok, you
are asked again "You realize that there is a good chance that you will lose
this money?". Coinbase (and I'm not picking on them, but they are the only
ones I know) don't care. They want the commission. Schwab, what I use, has a
feature that says "Yo. You got some F Grade stocks. You ... You shouldn't do
that unless you really know what you are doing."

~~~
cwperkins
Crypto has actually made me had a phase-shift in my feelings towards
capitalism in general. I think a healthy amount of inequality and competition
need to exist for an innovative and inventive society. Crypto has taught me
that it's really just human nature to want a get-rich-quick scheme and retire
younger than 30 years old. The funny thing I find in all of this is that if
someone purely believes crypto is the future, then exchange rates back to fiat
currency wouldn't matter. This crash has taught me that all crypto people care
about is the ratio to USD and that to me proves that people have faith in the
Dollar.

~~~
lykr0n
It's a libertarian free-market experiment. I think the fundamental problem of
crypto is that it is finite and quickly centralizes. Which, is the exact
opposite of what the initial goal was. Bitcoin Lightning further centralizes
the ecosystem. Etherum fixed bitcoins problem, but the underlying idea of a
finite resource, to me, dooms it to failure. If I horde my stash, eventually
the value will sky rocket due to limited demand. See the GPU market, which I
think is an ironic analogy. Until people start taking BTC/ETH through the
chain, you have covert to FIAT somewhere, which renders the initial goal
obsolete. I can't take ETH for my business because I pay my suppliers with
USD.

FIAT currency, using the greenback as an example, works because we have the
Fed making sure the liquidity remains constant to ensure stable value. If I
horde USD under my mattress, and I have enough to affect global liquidity, the
Fed would release more greenbacks on to the market to make sure the economy
keeps moving and the price doesn't fluxuate too much. I start to use my stash,
the Fed will soak up some of it to reduce liquidity. Crypto, by its nature,
doesn't have this. Crypto is trying to be the new Gold, but Gold doesn't have
much place in our global economy any more. Nobody is conducting trades with a
volatile mediums anymore. There is a reason that nobody* is on the gold
standard. I don't know enough to say why.

I think we might be able to revisit the idea of crypto in a couple of years as
a viable currency in a couple of years, but we have to wait a long period of
stability or some serious evolution. I have no faith in a currency that
doesn't have some banking capabilities.

The communist ideal is a society where inequality doesn't exist. A perfect
social paradise, but as you point out, this is not in human nature. Most
people will try and hold on to any power that they can get. I like to think
that I'm not like this, but that would be naïve of me. We advance because we
see that new car and want it.

~~~
cwperkins
I agree that I may be bullish on long-long-term prospects. One of my gripes
from the get-go was that even though Crypto was not intentionally exclusive as
anyone anonymously anywhere in the world could create a Bitcoin wallet, it is
intended for the more tech-savvy crowd. This excludes people like my parents
and grand-parents who have used cash for a lifetime or plastic digital
currency. I also believe a central monetary agency and a regulatory agency are
vital to an economy to keep it from getting out-of-hand. The reason for my
phase shift in thinking, is really applying the principal of greed I see here
to other industries such as pharmaceuticals. I admit that I am not an expert
in Pharmaceuticals, but I have to believe that these big pharma companies are
altruistic and can only justify high prices by investing in high-risk, high-
reward studies to find cures for ailments that are currently not treatable. I
believe there exist good people in every industry, but the age-old notion of
"one rotten apple spoils the whole barrow", remains more relevant than ever.

Disclosure: I have formerly worked in Prime Brokerage Tech at Goldman Sachs
and an HFT focused on the US Muni and Corporate Bond market. Currently in wine
tech though ;)

~~~
lykr0n
That "F" stock I have? My parent's Pharmaceuticals company. I can give you a
bit of insight into why the cost is so high.

1\. Because they can. Other countries don't pay as much, so they can get away
with increasing their margins in the US market because they can't elsewhere.

2\. The R&D is a shitload. With research, they are making educated guesses at
stabbing into the dark to find something that works in their lab sample. Once
they find a promising lead, they dig into that. If it shows promise, they
start to experiment on rats. If that works, they try it in humans (phase 1) to
see if it kills or harms people. This is where they see if it actually works
in a human. Then, once there is evidence that the drug doesn't kill a person,
this dose has shown some results they get more people (phase 2). This shows
that the drug is generally effective and what side-affects happen. Then, they
give it to a large population (Phase 3). Sometimes the FDA will allow them to
skip this step if Phase 2 was an overwhelming success.

That process can cost millions, if not billions. People say that "this drug
only costs $0.02 per pill to make, why are you charging $100?" Because they
only have 7 to 11 years to recoup the R&D costs before Generics can move in
produce the drug. The method of using Universities and Research Institutions
helps mitigate some of the initial R&D, which is why you hear "Harvard
Scientists discover cure for super-aids." In the lab, they have a drug that in
their testing cures super-aids. The next step is for a drug company to buy it
and let their R&D department go to work.

And when you are in the trials phase, you have to convince humans humans to be
test subjects, which means giving them money, doctors to run the tests, and
pay for any healthcare costs that results in side-affects. That costs money.
And then add in the costs of making sure literally __EVER __is documented,
numbers add up, and every possible question can be answered. The FDA, for good
reason, goes through everything with a fine toothed comb. If something doesn
't add up, numbers change from document to another, or something minor was
overlooked (like the drug was kept at 10C at Site 1 and 10.5C at Site 2), the
FDA will come back and demand an answer. It's all red tape, but for good
reason. It's the reason why everyone really freaked out when Trump was
floating that crazy dude for the FDA. It's the last place you want lax
oversight. AFAIK, most countries deffer to the FDA's recommendations on
allowing drugs on the market due to it's strict oversight.

3\. As I mentioned, there is only a limited period where they can make money
before other manufacturers can start making the drug. Any sunken costs must be
recouped by this point, which drives up the cost.

------
quickthrower2
If possible you need to emotionally let go that you had that money. Easier
said than done.

It's going to be hard - but there is someone out there with the same job and
same amount of assets as you, who isn't unhappy because they never had the
higher amount and lost it. Logically you can be as happy as that guy.

How you got the money in the first place may have a bearing here. If you
worked hard for it or it is inherited there could be anger/guilt attached.
It's worth thinking about and processing that.

Work is kind of a separate issue and probably totally fixable. A separate ASK
HN or StackOverflow question might help there get you in the right direction.

Get a financial adviser is a good point mentioned below. Also if you are in
financial difficulty you should get advice about that too (debt consolidation
etc.).

Should you hold the coins? I don't know. I've lost a bit of money. Not trivial
but not devastating amount. I will probably hold it for a few years. I went in
knowing I could lose it though so I thought about "what if this happens"
already.

------
davelnewton
This too shall pass.

------
Applejinx
Do you have food? Do you have housing? Seems worthwhile to gauge how much risk
you were taking on, relative to how much you missed out on an opportunity to
get a huge amount of money additional to what you've already got. Do you have
collections coming after you for anything, do you have people in your life
that you don't dare tell that you can't keep your commitments to them?

It seems to me the real question here is whether you are in danger or
distress, or whether you're treating distress to your profits as distress to
yourself. Hence the practical questions.

------
knocte
You should have listened to this guy:
[https://www.youtube.com/watch?v=XbZ8zDpX2Mg](https://www.youtube.com/watch?v=XbZ8zDpX2Mg)

------
Apreche
Just learn your lesson for next time. Don't fall for scams.

------
gesman
Cryptos _are_ volatile.

Check news stories and price charts back few years and see if you notice any
patterns.

Buying at wrong time is painful.

Selling at wrong time is double painful.

------
zethraeus
I'm really sorry.

You've suffered a large loss. You'll have to find some way to draw a line in
between your present and your past, and to move on.

Make a decision about cutting your losses on this investment based on the
understanding that anything you leave in could plausibly depreciate further.

Enumerate your opportunities. Focus on how you can use and build them in the
long term.

------
promise2behave
Did you honestly not consider this when making the initial investment? Why do
people think cryptocurrencies automatically equal free money?

Same with every high risk investment, never put in anything you can't afford
to lose.

Edit: I am a financial advisor, because this is the internet and I can be what
I want. Mom said

------
jordan801
I would just hold on. And next time don't put money in, that you can't afford
to lose.

------
bitconion
buying bitcoins, you may want to hedge your risks using futures or options
derivatives (i.e. to use your bought bitcoins to get corresponding derivative
contracts). There is a handful of exchanges for that (bitmex, deribit and
maybe some more). if your lose in crypto you will get compensation in
derivatives and vice versa. though this would require some knowledge (not the
rocket science of course), there are invest firms that can help

------
patatino
If you don't need the money right now I would just do nothing and wait, I
think it will recover, could take weeks, months. Edit: I am not a financial
adviser.

------
brador
It’s just money. Take the L and go to work tomorrow like nothing happened.

------
lettergram
Write off what you can on your taxes.

------
petraeus
You're best holding it and wait for it to pop again, theres suckers like you
every minute

------
fspear
Keep a portion of your eth and invest in promising ICOs.

------
mamcx
> Work going downhill. My life feels ruined Any advice

I would try to paid attention to this first. How can this mistake ruin your
life? Or is just many other things accumulating?

The loss of money is a _done deal_ , but the others look like _solvable
things_.

\----

After taking care of the other more _important things_ , look at the
investment and use the advice elsewhere.

Also, you can understand this:

You still have the same value of BTC/ETH, but is the conversion to USD that is
suffering. Is like if you get 1 bar of gold, was a US100 now US50.

But you still have the gold.

You HAVE NOT LOSE BTC/ETH. Is the CONVERSION MARKET that is VOLATILE.

Now, some investors are hungry for cheap BTC/ETH. You could turn a minor
"profit" for it.

Also, you can FORGET ABOUT THE USD and start trading to increase the amount of
BTC/ETh. If the loss is so bad, lose all is acceptable to you? Then after you
mind is free of FEAR, you can only get up. And if not, is already a lost
cause, cause that you have accepted.

Or just wait.

P.D: I also "lost" the value of my cryptos. I'm not on hurt because I never
put my life on risk.

------
mtgx
Why did you invest more than you could afford to lose? This advice is
literally everywhere on Reddit and even YouTube. If you can't stomach 20%,
50%, or even 90% drops in your portfolio's value, then you clearly _invested
more than you could afford to lose_.

Did you really think you could just get in at any point in the crypto
lifecycle and the value would keep rising, and rising, and rising? Especially
if you got in when there was a media frenzy?

We seem to be _approaching_ the "despair" phase, as your post clearly implies:

[http://www.thegoldandoilguy.com/wp-
content/uploads/2012/11/S...](http://www.thegoldandoilguy.com/wp-
content/uploads/2012/11/Stages-for-AAPL.png)

Remember you only take the loss if you sell now. Do with that information what
you will. But I think in a year's time you'll regret selling for 2/3 loss. And
you'll probably want to get in again after the crypto value has risen another
10x, and all the media talks about it. but with only 1/3 or less of your
money. Rinse and repeat.

