Panic? I'm already down around 30k in less than a week.

DISCLAIMER: This is a throwaway and I don't check DMs or pay attention to anything on this account. Don't try to scam me, it won't work.

Here's a reason you shouldn't panic.

Prior to this week, my wealth allocation was around 40% crypto (mostly BTC) and 60% stock market. Then, on November 29th and November 30th, I wanted to rebalance my allocations to 75% (mostly BTC) and 25% stocks, so this is very close to "going all-in" at around 60k per BTC. I moved a total of $70k USD from stocks to crypto between those two days. Fast forward to today, my crypto holdings are down 28k USD.

How does it feel? Fine. I haven't sold, and therefore I haven't lost. Will I sell? Not a chance, even if BTC drops to 8k per coin.

How do I recover? By DCA'ing. Each time I will deposit more fiat into crypto, I will be lowering my average cost per share. Then when Bitcoin inevitably reaches a new ATH, my gains will be even higher than if ATH happened today.

Moral of the story? There's no reason to panic unless you sell.

Submitted December 04, 2021 at 10:42PM by ThrowMeABone38 https://bit.ly/3xWG0DT