Topic: Bitcoin and patience (Read 735 times)
Investments generally focus on holding assets for a longer period of time until a better return is achieved. Investing is a long process if you can research the market well and be patient you can expect good returns on investment. Taking speculative decisions in long term investments can be risky for an investor. Price volatility is thought to be bitcoin's greatest asset. Many times investors get worried by such rapid price changes but if you do proper analysis and wait patiently the best course of action will be.
The solution for this aside from having patience is divert your attention to something else, its not healthy or good or your mind and decision to always monitor or looking at your holding, you see that is the common problem of many bitcoin or crypto currency investors, they tend to always look at their assets and monitoring it, well its not bad to monitor your asset what's not good is 24/7 or spending a lot of time just to looking at your assets, it will not help in fact it will influence you mind and decision to you to act either way, if you see the price goes down there will be an anxiety that you will feel and forced you to exit your holding which is not goof, you see bitcoin investment needs a long term wait to see its profit and downside of price is part of the process that's why technical analysis and charting skills is very important for you to plat your target price or your entry and exit trade.
You have a point but even though you are able to divert your attention into some other thing it will be difficult to totally forget about your investment and whenever you come across a news regarding bitcoin you will instantly realize that you have an investment somewhere and will be forced to check on it. It in our nature to always monitor our investments and it’s the best thing to sometimes but all that really matters is having the right mindset to be able withstand any form of temptation that will make us want to sell off when things are going wrong.
Most people who sell when price is moving downward lack self discipline, they need to understand the concept of cryptocurrency and that it pays off when you are patient enough even when things are going wrong, somedays are hard and sometimes things get better. It is very wrong to sell at loss when prices are low because eventually the price will still rise again so having a price target to realize profit is a good strategy.
Monitoring the price of your holding everyday will earn you nothing, but since we are all humans, it will makes us want to react to some price changes which is not good for the goal of getting filthy rich in the crypto space.
It will just trigger a negative emotion to us especially if we see the price dumping that's why its really good to forget checking the bitcoin price from time to time or in daily basis and just put some target timeline on when you should sell it so that our long term hodl plan will come in reality. To many will get easily affected on what they see that's why they need to think about they are saving those balances for future so that they will never think about touching it. Although sometimes We can't really erase out these thinking that we want to know the status of the market then I think simply reading the news coming from respectable sources is I think enough so that we will get an idea if the market is in bullish or bearish condition.
Monitoring the price of your holding everyday will earn you nothing, but since we are all humans, it will makes us want to react to some price changes which is not good for the goal of getting filthy rich in the crypto space.
Even though patience is important, investing in Bitcoin also requires risk management. When an investor just holds and holds without thinking about the risks, he will tend to invest without direction, which can make his investment unprofitable. In this case, Bitcoin investors also need to think about their investment goals, risk tolerance, and how long it will take before they finally take profit on the assets they hold. When investing in Bitcoin, it will be more profitable to hold it for the long term, for example the next 5-10 years, and it is even better if you invest using the DCA method.
Holding bitcoins in the long term is one of the best ways, as long as you know when to sell them and how long to hold them. Any aspect of business or investment requires patience to move forward, achieve the earnings you expect, or more.
If you have extensive knowledge of Bitcoin and know its concept, you can be sure that the capital you will use here will not be in trouble. We also know that often those who do not know about this are the ones who always put the capital investment in jeopardy.
If you have extensive knowledge of Bitcoin and know its concept, you can be sure that the capital you will use here will not be in trouble. We also know that often those who do not know about this are the ones who always put the capital investment in jeopardy.
Bitcoin is here, the market is here and available for everyone to participate in and find their chances to get rich, enrich their wealth but the market is always a zero-sum game.
It will be proportional to the amount they will invest and I don't think entering the investment space in bitcoin can provide quick riches, especially for those who only invest small amounts.Money will flow from losers to winners in the market and who are greed but don't have patience to wait for profit, will buy at top, sell at bottom and have loss. Their money will flow into wallets of winners in the market who are keen on patiently holding and investment. They don't need to trade, just buy and hold, wait for good prices to take profit.
The market is always spinning, up and down, with its own cycle from price to psychology.
There's nothing wrong with that, it's just that most people buy low and sell high, not the other way around. It is a form of panic that tries to determine losses and the nature of them not understanding Bitcoin's journey in the market so they decide to sell in the wrong conditions. Trading really depends on individual ability and if you are able to carry it out there is nothing wrong because basically trading or investing both expect profits.The market is always spinning, up and down, with its own cycle from price to psychology.
Someone who understands bitcoin will find it much easier to control emotions and price fluctuations will not put them in the panic stage. If they really understand the process of bitcoin's journey and its four-year cycle as a force that continues to push bitcoin to find the next ATH.
It's not only been patient is the ultimate in cryptocurrency investment, the more important things is to ensure that you have scrutinised the time you have to invest in bitcoin and times not to invest, when you invest during the time price of bitcoin is extremely low you will not be bothered or be conscious of your investment..in normal circumstances what makes people to lose in their investment is out of curiosity and patient is one of the elementary elements that contributes immensely for profit advantages of bitcoin investment.
It's true that when a person has bought Bitcoin or any cryptocurrency at a high price they tend to panic more easily when the price goes down a little bit, but that is also a matter of patience because along with proper knowledge and understanding, it's patience that they don't have which is why they start panicking as soon as they see their portfolio losing value. This is the reason why an investor needs to make sure that they have enough patience to bear the ups and downs of the market.A lot of new investors that enter the market lack the basic knowledge about the market and the cryptocurrencies and they have joined only because they have heard somewhere that they can earn money by investing in cryptocurrencies they did it without doing any research and now when they see that their investment is losing value, they start panicking right away.
That is just how bitcoin is and those who don’t understand it concept will lose a lot of money when Bitcoin prices dumps. We have noticed such trends in the past and bitcoin price still bounced back so i see no reason why we should panic sell during such downturn.
Totally agree with you, there's no way someone's going to be able to last long or even make money in bitcoin and crypto market if they're not that patient, the biggest market losers are those that are paranoid and short tempered so they end up not making any profit but they're really good at making losses. That's why everytime I see bitcoin go down in price, I'm relieved to think that I will still be able to buy more in case I get some money.
It's not only been patient is the ultimate in cryptocurrency investment, the more important things is to ensure that you have scrutinised the time you have to invest in bitcoin and times not to invest, when you invest during the time price of bitcoin is extremely low you will not be bothered or be conscious of your investment..in normal circumstances what makes people to lose in their investment is out of curiosity and patient is one of the elementary elements that contributes immensely for profit advantages of bitcoin investment.
It's true that when a person has bought Bitcoin or any cryptocurrency at a high price they tend to panic more easily when the price goes down a little bit, but that is also a matter of patience because along with proper knowledge and understanding, it's patience that they don't have which is why they start panicking as soon as they see their portfolio losing value. This is the reason why an investor needs to make sure that they have enough patience to bear the ups and downs of the market.A lot of new investors that enter the market lack the basic knowledge about the market and the cryptocurrencies and they have joined only because they have heard somewhere that they can earn money by investing in cryptocurrencies they did it without doing any research and now when they see that their investment is losing value, they start panicking right away.
It also depends on the responsibilities someone has. I just read again about taking out a loan to buy BTC. Honestly, if it is the year 2014, someone has little to no responsibilities, no family to feed and is at a young age and not exaggerating with the loan amount, I think it could be a risk that is worth taking. I have been reading some wild posts here in regards to financing BTC investments, like selling the wife's jewelry and stuff. But if someone decided to take out a moderate loan after crunching some numbers, knowing that if it goes wrong life would still go on quite comfortable, then why not go for it? I know people who have invested so much time into understanding BTC back at the time and if they came up with a well-considered approach to build their portfolio, loan money can be a component if someone understands the implications.
I am definitely not against loans, when it comes to business or investment projects. If someone has a prosperous plan and know how to make more money out of given, than a loan could be very effective instrument. Moreover, big estates are made with the usage of someone else`s money. It is normal situation and most of the people who are willing to achieve something take that risk.
And this is what is decisive and should not only be considered some smart wording. If someone takes a loan because he studied BTC for a long time and perhaps also contributes as a developer or in some other function and believes in the industry, I think taking out a loan to increase BTC holdings or get a stake in the network that someone supports can be the right thing to do.
However, I think taking out a loan today is riskier than it was in maybe 2012 or so. It does depend on the perspective someone has, but taking out a $1000 loan in 2012 to buy BTC while being able to afford to lose it had an amazing risk reward ratio because the potential reward was - if compared to today - exponentially higher in relation to the risk.
But I am still convinced that anyone who decides to invest in BTC today and has enough time/patience will go deep into the green zone in the future.
Yeah patients is one of the things you need to be successful in this crypto space, but the thing is that most people don't no that especially when you are new in this crypto space that why I will keep on saying that, that mindset most people have about Btc and other cryptocurrencies as a quick get rich scheme. Is inappropriate because of that mindset and FOMO most people lack patients all they want is for the event to happen real fast neglecting that is gradual process that will happen but will only takes time, few months back bitcoin was around the of 26k$ but now is around 41k$ just imagine the people that was patient to hold Btc to this stage. They definitely in good profit now.
And it's not easy to be patient. It's hard. Seeing Bitcoin prices falling and the value of your coins dropping rapidly triggers a lot of emotions. You'll be torn between selling at a loss or leaving it. You have to know it's not easy. You need a lot of trust in Bitcoin and to know that if the price is falling, it's just a matter of time before it climbs back up.
That's why technical analysis is important. When you have a clue of how Bitcoin works you'll use history to understand that Bitcoin always bounces back.
That's why technical analysis is important. When you have a clue of how Bitcoin works you'll use history to understand that Bitcoin always bounces back.
It's easier said than done, we all know patience and perseverance will help us succeed but it's hard to do that. When our portfolio grows, we get excited, so it's no wonder that when our portfolio shrinks significantly, we get worried, even panicked. Indeed, I have been in the market long enough to see everything that happens in the market, but every time the market fluctuates, I can't help but worry. Controlling emotions is not as simple as many people say.
In addition to needing knowledge and technical analysis... I think it is also necessary to have a good strategy to control your emotions every time the market adjusts. For example, I would limit price checking every time bitcoin drops.
like any other investment patience is needed, like if you are investing in your child's education there also patience is needed you cannot force him to study hard and get a better job in short time.
I sometimes think that how lucky they are who invested very early in bitcoin, but always came to a conclusion that this is not possible for everyone to hold bitcoin for this much long time by seeing big pumps and dumps.
everything investment needs patience, it becomes easy to hold for long time by investing what we can afford to lose.
I sometimes think that how lucky they are who invested very early in bitcoin, but always came to a conclusion that this is not possible for everyone to hold bitcoin for this much long time by seeing big pumps and dumps.
everything investment needs patience, it becomes easy to hold for long time by investing what we can afford to lose.
This season's bear market has brought many lessons for beginners coming into this season. I personally also learned a lot about this. One of them is about patience in holding and patience in accumulating. Holding bitcoin during a high rise is not as easy as beginners imagine at first. But if we are used to it then holding bitcoin is not difficult. Because our resilience in being patient has been honed. And sometimes the most difficult thing is in the process of how we accumulate bitcoins for long-term investment. Sometimes beginners are always in a hurry and sometimes they also feel a lot of doubt about entering, like waiting for the price to fall further. In fact, what you have to do in accumulation is just try to accumulate regularly and slowly. Using the DCA method or Average Down method. But most of those who have gone through the bear market today have learned many things, such as no longer being FOMO and not be greedy people.
That is just how bitcoin is and those who don’t understand it concept will lose a lot of money when Bitcoin prices dumps. We have noticed such trends in the past and bitcoin price still bounced back so i see no reason why we should panic sell during such downturn.
Totally agree with you, there's no way someone's going to be able to last long or even make money in bitcoin and crypto market if they're not that patient, the biggest market losers are those that are paranoid and short tempered so they end up not making any profit but they're really good at making losses. That's why everytime I see bitcoin go down in price, I'm relieved to think that I will still be able to buy more in case I get some money. 
It also depends on the responsibilities someone has. I just read again about taking out a loan to buy BTC. Honestly, if it is the year 2014, someone has little to no responsibilities, no family to feed and is at a young age and not exaggerating with the loan amount, I think it could be a risk that is worth taking. I have been reading some wild posts here in regards to financing BTC investments, like selling the wife's jewelry and stuff. But if someone decided to take out a moderate loan after crunching some numbers, knowing that if it goes wrong life would still go on quite comfortable, then why not go for it? I know people who have invested so much time into understanding BTC back at the time and if they came up with a well-considered approach to build their portfolio, loan money can be a component if someone understands the implications.
I am definitely not against loans, when it comes to business or investment projects. If someone has a prosperous plan and know how to make more money out of given, than a loan could be very effective instrument. Moreover, big estates are made with the usage of someone else`s money. It is normal situation and most of the people who are willing to achieve something take that risk.
And it's not easy to be patient. It's hard. Seeing Bitcoin prices falling and the value of your coins dropping rapidly triggers a lot of emotions. You'll be torn between selling at a loss or leaving it. You have to know it's not easy. You need a lot of trust in Bitcoin and to know that if the price is falling, it's just a matter of time before it climbs back up.
That's why technical analysis is important. When you have a clue of how Bitcoin works you'll use history to understand that Bitcoin always bounces back.
That's why technical analysis is important. When you have a clue of how Bitcoin works you'll use history to understand that Bitcoin always bounces back.
those people that sold their holdings at a loss will be licking their wounds by now and thinking how they wish they hold on to it a little bit longer.
People who sold their bitcoin quick when bitcoin price hits the bottom don't know bitcoin if they knew bitcoin they would not have rushed to sell because hodling Bitcoin when the price is low is an opportunity. It always good for beginners that are new to always make research about bitcoin and to know how the market was before now so that it can also help in the present and the future. Bitcoin market as not change, what is happening in the market is nothing new , their is time for bull market and their is time for bear market. When the price of bitcoin falls low it is an advantage for people to buy and hodl , no need to panic about the market and sell at lose . Hodling is the only way to make profit.
Bitcoin as a digital asset has taught me that patience is the key.
It's near impossible to be successful in crypto without patience, investing is another thing, knowing how to hold is another thing also.
Almost all the crypto millionaire in the crypto space are good holders, think about that!!
Monitoring the price of your holdings everyday will earn you nothing, but since we are all humans, it will makes us want to react to some price changes which is not good for the goal of getting filthy rich in the crypto space.
It's near impossible to be successful in crypto without patience, investing is another thing, knowing how to hold is another thing also.
Almost all the crypto millionaire in the crypto space are good holders, think about that!!
Monitoring the price of your holdings everyday will earn you nothing, but since we are all humans, it will makes us want to react to some price changes which is not good for the goal of getting filthy rich in the crypto space.
Patience is the key to all successful investments, and it includes thoughtful risk management. Because of the volatility of the market, digital currencies such as bitcoin demand patience in addition to a measured risk. It will be simpler for you to make decisions free from greed and fear once you are aware of this.
Seeing or examining the market price every second stimulates fear and greed, which could negatively influence your decision. One of the best ways to make a safe long-term investment in the cryptocurrency market is to use dollar-cost averaging (DCA).
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