Someone close to me sold all her bitcoin last week against my advice. I had her buy in November ‘22. Today she is pissed that bitcoin is up almost 8% since she sold 🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️
Discussion
People will only learn lessons the hard way. She’s gonna need additional emotional support when this next bull market really takes off 😂
For sure. The last thing she asked me this morning is if I thought it would go back to $20k 🤦♀️ The bull is going to make her sick.
😬Like ALL of it? Didn’t she try to reach out before she sold? Did she need the money?
All of it and no she didn’t need the money at all. She just considers herself a savvy investor because her 401k has been rocking.
You should be openly mad at her, just sayin.
Tell her that she needs to buy it back now and stop being stupid. Otherwise that measly 8% is going to hurt vastly worse when it’s 100%. Cut your losses in fiat NOW while it’s still an option.
I told her she is going to feel worse within the year. She wants to wait to rebuy when it dips back into the 20s where she bought. 🤦♀️
Imho this isn’t even a Bitcoin problem so much as just a general financial fallacy, and is the main reason why people usually do better just buying index funds than individual stocks. I have some luck trying to explain this isn’t a Bitcoin thing, it’s a timeless financial principle. There’s a famous investing saying, Water your flowers and pull your weeds. If you sell winners to buy losers you’ll always have shit results in any asset class. What they’re doing is like selling Costco to buy Kmart.
I’m sorry for her loss. That shit will never see 20k again, and even if it did, she’d be scared to death and certain it was dead and never coming back.
The ONLY reason she thinks it’s a “buy” at 20k is literally because it’s worth 3 times that right now. She will literally never buy bitcoin at 20k, whether it ever sees that price or not. If she would actually buy it at 20k after half a year of a complete price dump, she’d never have sold it now.
If she only studied bitcoin...
Yikes… double gut punch because of the taxes
This is typical Orange Piller behavior that nostr:npub1yrf6e774ggeylt7e7s784jv9ydawv5c4z5zj4arvvs04q7lkulvqdgkaz3 warns everyone about.
She’s never ever going to have the same size stack unless she buys it back and then stacks as hard as possible for that extra 8%.
Lollll back into the 20s . Keep dreaming
If she bought in the 20s she at least doubled her fiat amount. Perhaps another approach is to suggest she keep that profit but buy back the original amount. So if she invested $10k and sold all for a total of $25k (for example), suggest she buy back $10k worth of Bitcoin. In 1-2 years she will be happy she did.
Sounds like a great idea. Buy low sell high. I would tell her to just DCA so she at least has some exposure while she's waiting on the dip. You aren't going to change her mind by insulting her decision.
Who says history doesn't repeat lol?
I’ve stopped trying to orange pill….but, when someone asks me, I tell them to study Bitcoin, not buy it. Otherwise, this happens. Sad
She’s in for a rough bull market 😝
Ouch. She should be pissed, at herself of course. Some lessons are learned the hard way. Nobody but herself to blame.
The first rule of bitcoin is, NEVER SELL YOUR BITCOIN.
#HODL
Sometimes we all just have to learn thru pain
welcome to bitcoin
If she is pissed now already, then it’s going to be fun next year.
Are you surprised?
imagine how she's gonna feel when we 10x from where we are now 😂
No offense but this person doesn't deserve Bitcoin...
Hopefully she sold for a reason and not just to take profit.
We all pay the price we deserve.
$58k victim
Someone close to you is a low IQ emotional retard
You hang with losers
can we get a recording of her when it hits 500k?
Education is never free