Tell me I did the right thing, please

So I met this guy a few years ago and pretty much love at first sight, we got to talking and have been more than friends but less than a couple, nothing too sexual. Well he starts dating this guy and it's one of those relationships where it probably won't last long. anyways he and I start talking about our feeling, like really talking. he told me he wanted to really give us a chance but didn't know what to do about his current relationship. I told him that as long as he is happy I would bite my tongue, and that if there is a chance that he will be happier than he would be with me he would have my blessing. I feel like I let go my only chance to be happy with him, I'm quite depressed but he seems like he will be happy.