Topic: Bitcoin price and my mindset - page 2. (Read 975 times)

Everyone's hope, of course, wants to see prices continue to rise, unfortunately people just hope without doing anything, when prices go up they regret not buying at low prices, and when prices are low they are afraid to buy again because prices will continue to fall.

$20k is a huge amount already and such a feeling (worries) is likely to happen especially if you keep checking the market. But if you are a long-term investor, it is not necessary that we have to check the market every day because the more we check and see the up and down of the price, the more we feel something different and it influences the way we respond to the current situation. We should have to trust our invested coin and believe that it will grow a few years from the time we buy them.

The price of bitcoin is always dynamic and often makes surprises, it seems that happened with January and March which rose significantly, and in my opinion this is not the last and will happen again, the pump will be easy to do from whales so that many people regret selling at a cheap price.

It is true that regardless of the price of bitcoin it is important to develop the right investment mindset in bitcoin. Long term investment will give a good return. One of the benefits of investing in bitcoin is that the investor can profit when the price of bitcoin is high. bitcoin should be considered an uncertain investment and its value can go up and down. Also, there are risks of bitcoin hacking and crashes and should be fully clear before investing.

In my opinion, while a tool like Your Bitcoin Mindset can be useful for calculating the price of various assets in Bitcoin, it is important to combine this information with other factors and cultivate a sound investment mindset to make informed investment decisions.

For those who have large amounts of bitcoin, of course the price of bitcoin will be helped almost every day, in 2018 I have bitcoin worth more than $ 20k I check the price at least 3 times a day, there will always be a feeling of fear if the price of drops so that it makes me sell 80% and with I can hold the remaining 20% until the long run and when there is a fantastic increase in 2021 then with $ 3800 to more than $ 30k.

The market has no buying force does not mean bitcoin has no chance to bounce, let's not forget the market beyond pure investors like us is still full of sharks, and market manipulators. If people are adamant about not buying at this price and waiting, chances are the market maker will push the price creating Fomo and making people buy high for fear of missing out.

Waiting for a lower price to buy is a bad idea when we have DCA strategy. Many also missed the $16k price point as they continued to wait and expect bitcoin to drop further last year. Don't let the mistake repeat, and you have to buy at a higher price than now.

Thanks for reminding that and we also have the option to exit at any price to sell back our bitcoin holding status. This is a period to collect bitcoins and my advice is that you can be consistent in continuing to collect bitcoins.

But I didn't get much information from your post, how did you get profit in the current period, because what I know is that if your investment amount is small then the profit will follow the capital adjustment for now.

That's a great start for your wife and I'm sure she will be quite happy with this, because after all we will end up making our family happy with each other's abilities. Having lots of bitcoins and treasures will mean nothing, if you don't use them for family happiness. Congratulations OP and I hope your wife can develop this business well in the future.

Many people want to see the bitcoin price reach new ATH or even $100k this year, I'm sure if the $100k price happens then we will think and regret for not buying when the price is cheap, now the opportunity comes, the current price is only around $27500 and if one day the price can reach $ 100k then we get a big profit.

Bitcoin will take its time, this month it will stay within the range of $26k - $32k, it may go lower than $26k but I don't expect it to go beyond $32k soon since there is basically not much buying pressure as you said people are speculating a lower price range for them to start buying and as long as that market sentiment stays, we will see a stable price.

Everyone has the mindset of buying a month or so before the halving because they think that halving is the ultimate target for the bull market and it will start right after it which might not be true but buying pressure at that time will surely do its magic.

well, currently the price of bitcoin is trying to break the 30,000$ and for that reason every time it fails to break the 30,000$ it drops to 27700$, if it continues like this then it will only have two ends, the first would be that it would be able to break $30,000 and then break $31,000 to reach $34,000 and then it could start a big price increase up to $39,000, but if the price does not manage to stay above $32,000 then it it can drop to 26000$ but it won't drop so much to the point of going back to 19000$, at least in this part we are sure that we won't see the price reach 15000$ again

now about what you talked about taking your money that you invested in the cryptocurrency market to open a business for your wife, well in my opinion doing business in the real world has always been the best choice, that's why I agree with your decision, because with the price of 29000$, the maximum that someone can make a profit by doing hodl for the next years could be a 3x profit, it's not a bad thing, but you have to be aware that you have to have business in the real world and not just count with cryptocurrencies. you also need to make sure that you are married in the notary to your wife and with property sharing, because if you are not married, then on the day you separate she will be with the store and you could be left with nothing

That's why every bear market looks the same on the charts. There's more and more people slowly buying and getting used to the price being stable after breaking out from the bear market downtrend.
It goes slow at first but then, when it doesn't crash for months, more and more people decide to buy and increase the demand more and more, until a price reaches a significant pivot point, like a former ATH, at which point everybody comes in, throwing their money at exchanges, but there's not enough liquidity to satisfy them all, so the price goes up exponentially.
It's the same every time and it's going to be the same this time.

That's greats because these days doing job for both male and female are necessary as everything is so expensive that a single person cannot tolerate it. Putting money into bitcoin is a good idea and as you have profit from investment in Bitcoin so I think that you have a knowledge about bitcoin and crypto industry and its very important.

Select that business for your wife which you think that your wife has some experience about it and have interest in it because without taking interest one cannot work well. You think well because in hard work your wife will helps you in sett off utilities of life.

Right now the market is clearly ranging as it is unable to take a clear direction as the market participants themselves are undecided about where the price should go, an increase on the price is possible however we are still so far away from the halving that people are hesitating to buy more at the current prices as they are expecting for the price to be lower to make their purchases, and with this in mind it could take some time before the growth people are expecting actually materializes.

Indeed, the price of bitcoin still has the potential to rise again. But it seems that so far we have not seen if bitcoin is in a bull period because the current increase in bitcoin prices is not very significant. Therefore, let's take a look at how far bitcoin's price has moved so far this year. Will the bull run period come soon or not.

What makes trading hard is the idea of you don't need to know what the price will be because there are thousands of combination that can affect the price and the most important thing you should have is plan regarding when you will entry, your cut loss point, your value at risk and how much money you will put. The myth is people think that trading is easy because the of the idea of buying low and selling high. In actual reality, it is hard to execute and you need to have a lot of past price movements in order to make it as your data to rely on and make the execution smooth. Every professional traders knows that it is not about your skills regarding technical analysis but rather it is how you perceived the information that the market gives to you and also how you will execute your plans without a bit of hesitations.

A lot of traders especially those bitcoin traders thinks that their technical analysis skills will solve their poor trading performance, the real key for trading success is in his mind which is how he is thinking before, during and after the trade. Becoming a good trader is hard because you really need to focus on trading psychology and not improving your technical analysis skill. This is the fact and I also thought before that I should know what the price will be in the near future but this idea is very wrong because you cannot perceive the information what the market is offering to us.

Many people hope the price of bitcoin will skyrocket and reach $ 100k soon, but they don't buy when the price is cheap so what happens they will regret it if the price of $ 100k has happened, when the price is cheap like it is now the best thing is to buy as much as we can, but remember that risks can occur at any time, so when buying, only use the money in your pocket.

The best approach to follow the current crypto market towards bitcoin is to apply a DCA strategy. For a long time, the price of bitcoin has been fluctuating between $27k- and $29k. Using a DCA strategy will enable you to gradually withdraw your investment's profits as you wait for the bull run to begin.

I would classify the current price of bitcoin as being in a correlation stage rather than a bull market right now.

This is why trading is often compared to an art rather than a science, you cannot simply say do this then do that and you will become successful, trading is not that easy, it is true that it has quite a significant amount of mathematics and that you require a lot of skill and experience in order to become good at it, but at the same time it requires a little bit of something that cannot be measured, that cannot be trained and that you either have or you do not, and unfortunately for most traders they simply do not have what is necessary to become a good trader.

I totally agree, over confidence may negatively affect on Trader’s decisions and that could cause awful results. Furthermore, it is preferable to expect the unexpected events and scenarios even when you make good decisions ( from your perspective) Plus, accept the failure ( loss ) and learn from your own mistakes. The more you gain experience in trading, the less mistakes.
Moreover, you should adapt yourself in every new condition. At the beginning, read the market and then use a strategy that suits the current situation. , in fact, crypto trading requires knowledge, discipline and patience , these are the main keys to accomplish success.