Topic: Bitcoin and patience - page 5. (Read 671 times)

If you are investing in bitcoin and you don't have patience, then you might end up being disappointed because you won't be making money from it, you might even be losing. I knew someone who bought bitcoin. Immediately after buying bitcoin, bitcoin started to dump, and after a few weeks, bitcoin didn't bounce back, so he decided to sell. A few days after selling, bitcoin bounced back to the price at which he bought it, and even more. I advised him to keep on holding then and not to sell, but he didn't listen. Actually,  he was a newbie, which I didn't blame him for, but he learned his lesson because he sold his bitcoin at a loss. If you don't have the patience to hold on for the long term, then you shouldn't invest in bitcoin, because you will be disappointed.

Everything is not all about investing, you should learn how to hold. If you can't hold, then you might not be making much profit from bitcoin or even be selling at a loss. Most people that I notice who are finding it difficult to hold are those who depend on only bitcoin or invest everything in bitcoin without having anything left. If you are investing in bitcoin, then it's better to have other sources of income so that you won't depend on your bitcoin holdings. If you don't have other sources of income, then you will have to rely on bitcoin for survival, and if you invest everything you have in bitcoin, then you will have to sell some of your bitcoin in case there is an emergency and you need some funds.

Patience is always a key in anything, Bitcoin is one of the example.

Bitcoin is good for long term purpose, you don't have to think too much in order to make profit through Bitcoin. Yeah some people can become a trader and make money everyday by trading, but not everyone can become a trader. So just pick the safest way.

Those who lack self-control, and trust in the assets that they bought are the ones who sold their holdings. I believe those are the ones who didn't see how Bitcoin moved over the years.

They are just newbies who are just starting to invest in Bitcoin. For sure, those who saw how Bitcoin moved over the years will not sell their holdings at a loss unless they urgently need that capital, but if they don't then they are the ones who are into profit right now.

Anyway, those who made mistakes by selling at a loss will learn their lesson, and will not do it again. That's for sure.

I'm monitoring all of the prices of the coins that I'm holding, and yes I will not earn doing that literally, but I'm not reacting to any price changes whatsoever. I mean I'm not making any decision just because one of my coins went up huge.

Currently, Cardano is up 50% already since last week, but still, I'm not selling it because it reached as high as $3 on the last bull run, so I might sell it near that price or even above if possible.

For anyone person involved in the crypto space, we see how the prices of crypto fluctuates and lead a series of events such as may cause the price or value of the said coin increasing as well people getting to dump such a coin for another with more stable price order and ability to maintain value in the future with HODLing investment for as long as needed.

It's a normal thing to thus see people who don't have patience get into the crypto space excited to make big quick profit but get disappointed having to  face some loss from trading due to prices. BTC has remained more accountable as a coin and currency of the future hence why people like us, invest Long term just to HoDL even if the gain may not be as such promised from alt or shit coins.

You're absolutely right, patience is key when it comes to crypto success. Almost all those crypto millionaires out there got there by holding on to their investments for the long haul, riding the waves of market growth.

Think about it: if you're constantly jumping in and out of the market based on every little price fluctuation, you're basically playing a losing game. It's like trying to catch a falling knife – you're bound to get hurt.

But by being patient and disciplined, you'll be able to see through the short-term noise and focus on the bigger picture. This will allow you to spot those good investment opportunities that might otherwise slip past you. After all, the crypto market is full of potential projects, but not all of them are created equal.

By taking the time to do your research and carefully evaluate each project before committing your hard-earned money, you'll be much more likely to end up on the winning side. So, if you want to be a successful crypto investor, remember: patience is your friend.

There is no get-rich-quick scheme, on the contrary if you think that way then it is the loss that you will experience quickly if you have that mindset, after all this does not only apply to bitcoin other investments also require patience and a long time to get better, so don't ever think you are investing in bitcoin that will get rich quickly.

Bitcoin has an annual market cycle that we know halving every 4 years, during this time you will experience market ups and downs that test your mentality more. When in a bearish market what should you do buy more or just watch it, when the market starts bullish how to take the right profit, do you speed take profits because the price goes up a little directly sell even though in bitcoin the potential for a big increase is always there.

Never think of shitcoin as a long-term it will get worse and it is difficult to guess the price even more skeptical of shitcoin, the only one think of bitcoin as a long-term investment with your patience.

No investment makes anyone rich quick be it Bitcoin or any other investment.  But it is true that Bitcoin is able to provide faster profits than other investments but it does not mean that it will make someone rich quick.  So investment must have a lot of patience.  Otherwise, no one can succeed in investing. So before deciding to invest it must be sure that you have enough patience to hold for long term

Patience in cryptocurrencies at the present time means waiting for four years, or buying at the bottom of the cycle and selling near the top, as it is easy to determine the bottom and almost impossible to determine the peak, which is a short period compared to investments. For example, investing in real estate requires an average of 20 years, and investing in stocks is not possible for everyone. Access to it also requires some knowledge and relationships to know the optimal investment other than Bitcoin, which everyone can invest in.

Pretty accurate. You make a good point.
Insight into the crypto space supported by self-control and patience influences success in crypto investment more than technical ability.

Bitcoin is poised for a big comeback. And its parts are indeed aligned for a cycle.
The bull run is around the corner. Next year will be an exciting year.

It is not only bitcoin investment that needs patience, but all investment. If we want to be successful in whatever investment that we have invested into, patience is needed. This is why I don't see any reason why people will think that business is a get quick rich scheme. Bitcoin investment is one of the best investment that if you can have plans of investing in a long term, you will definitely make profit as long as you are not carried away by your emotion with the price fluctuations. DCA is the easiest method to invest in bitcoin over a long period of time because you will be using little amount like 10% or 5% to buy regularly.

I understand the fear of losing your money especially if it is something you saved up imagine if you are a working middle class and you invested in crypto feeling hopeful and then suddenly the price crashes, your instinct will be to get your money out so you don’t lose everything but crypto is volatile and sometimes patience will truly reward you it might be hard and anxiety inducing to watch your well-earned money go to waste but remember especially in bitcoin that everything  will come back

That's why people who have been in the crypto space longer have always say that every individual investor should have the time to practice their patience. Bitcoin investment is not a type of investment that can make you an instant millionaire in a day. It is possible, I know it is. However, it's not as easy as most people think. Investing in Bitcoin requires more patience, if you can endure being patient until the right time and when the bull run comes, what you endure will bring you a profit that you never expected.

The may have a impact but that's really not the reason why the market collapse, the thing that many don't know is either good or bad news, after every bull market there will always be a bear market, Volatility will always do it's thing, you could have say some about FTX, because I believe that's why we see low price at first, but like I always believe, all these things are meant to always happen.

The patience part is a good one, a necessity for every investor who want to be successful on the long run, but it's a shame that life isn't always fair for everyone,  many won't be able to have patience because of the condition they are in right now.

Bitcoin investment on the long term base is only sweat if you have a good source of income, for someone who come from a bad economic country, even if they manage to spare a certain amount, their mind will always be on the investment, simply because they can't afford to lose the money they are risking.

It's really no good to start investing without having money or good source of income to watch everyday goes by with easy on the mind, the more money you make the better of an investor you will be.

This is true for almost every investment probably. An investment isn’t and shouldn’t be a get rich quick scheme. It takes time to make money. If you quickly make money, you will most certainly lose it quickly as well. You can see this behavior on the charts too. An asset goes higher and higher in a very short time period, also goes lower and lower in an equally short time. Unless you are an expert of buying low and selling high, you won’t make any money in these markets. It looks easy from outside but I shit you not, it isn’t easy. Real wealth comes in the long run. It takes years, sometimes decades.

Bitcoin shows us that time is more valuable than money. This was witnessed in the Russia-Ukraine war, which rattled investors. Who sold for $15k? Yes, they're regretting it. However, Bitcoin's resurgence is a sign of its durability, not chance. All humans react emotionally to market changes. It's a marathon, not a sprint. Those crypto millionaires? In addition to investing, they mastered holding. Checking prices daily may feel useful, but it's a problem. Real deal? The long game is about stability when everything else is uncertain.

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.

Patience is virtue so we should learn to control our emotions when bitcoin is going down because it will always pay off and also understand that the price will not always go up so we should always expect a downturn.

Bitcoin as a digital asset has taught me that patience is the key.
 initial the first time I came into the crypto industry I never knew how important patience was not until I experience last year in the crypto space where the start of Russia and Ukraine war crash the price of Bitcoin to 15k dollars,
other shit coin follow suit, but was even worse, fast-forward from then till now how Bitcoin has bounce back to it current price and is still climbing up,
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.

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 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.