To be honest, during the 2018 crash, I was mentally devastated and thought about committing suicide, at that time I was still very stupid
Lol, I'm sure a lot of people have been in the same situation. I ended my damn rampage when ETH fell from $700 to $150 in 2018. I sold BTC to build a house for $9k and what I have at this stage has completed a cycle. . That's unique and it's a miracle even if for a moment you look back and damn it, at least I gave up at least two of my big opportunities. Now, I have family, kids and I feel the calmness and confidence in bitcoin and crypto is immense. I hope I won't be as foolish as I was when I was young.
Topic: Bitcoin's price, and mental health. - page 3. (Read 3587 times)
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To be honest, during the 2018 crash, I was mentally devastated and thought about committing suicide, at that time I was still very stupid because I invested money that I shouldn't have used. I bought bitcoin in the highest price in 2018 which is arround 18-20$k and after that market crash BTC price drop untill $4k. Now, when i see the market it makes me dejavu (2018 crash), but right now i feel more mature and never think about doing stupid things again.
You are not alone, the crypto space gets the largest number of new investors pretty much at the peak of the cycle every time (the 'euphoria' stage of the market cycle). Most people learn a great deal the first cycle they enter the space and although it can be a costly lesson to learn, it serves them well for future cycles.
To be honest, during the 2018 crash, I was mentally devastated and thought about committing suicide, at that time I was still very stupid because I invested money that I shouldn't have used.
I bought bitcoin in the highest price in 2018 which is arround 18-20$k and after that market crash BTC price drop untill $4k.
Now, when i see the market it makes me dejavu (2018 crash), but right now i feel more mature and never think about doing stupid things again.
I bought bitcoin in the highest price in 2018 which is arround 18-20$k and after that market crash BTC price drop untill $4k.
Now, when i see the market it makes me dejavu (2018 crash), but right now i feel more mature and never think about doing stupid things again.
Good idea mk4,,, I think people are all so nervy now I noticed even the moonbois in some youtube channels are quiet for one week now probably hiding from the crowd they told to buy stuff and promised the moon.
Well, people want to speculate,,, how can we tell them not to focus on money on profits? If people just want to hold and not use it, then they are just speculating so let them:)
Don't just focus on money and profits, don't be affected by price fluctuations, manage market sentiment well and hold it for a long time to get some profits.
Well, people want to speculate,,, how can we tell them not to focus on money on profits? If people just want to hold and not use it, then they are just speculating so let them:)
The sharp drop in the price of Bitcoin has created market sentiment for some people. They are afraid of the price and sell Bitcoin. Because some inexperienced investors find it difficult to bear the pressure of such a sharp decline, and do not realize that the price will pull back and rise. For some investors, it is an opportunity to buy cheaper tokens, buying some when the price is low, and then making a profit when the price pulls back.
Don't just focus on money and profits, don't be affected by price fluctuations, manage market sentiment well and hold it for a long time to get some profits.
Don't just focus on money and profits, don't be affected by price fluctuations, manage market sentiment well and hold it for a long time to get some profits.
This is normal if you want to make money online. This is more normal who work with Bitcoin or save bitcoin. The price of Bitcoin can go up or down at any time. There is no way to Know in advance what will happen. There is nothing to worry about. You must be patient.
I like the idea expressed here about the fact that newcomers who do not have enough money, they are forced to invest in shitcoins. This is where the support for shitcoins hides! ) And this, unfortunately, is not a joke. People want to catch their luck. This is what gives life to shitcoins and discredits the blockchain industry. But you can even go further and show that this same principle compromises not only the blockchain, but civilization as a whole. But the problem is also that bitcoin, not being a shitcoin, does not have characteristics worthy of civilization. There are already enough advanced projects for this, but their success has not yet come to them.
Money can be made back in the future through multiple various ways, whereas you have only one life to live. It's not the end.
The best that advice that we can give to every investor out there who are at a loss right now.I will just add, if you can't take the losses that you may get when you are investing then it would be better if you just don't invest at all so you will not think of suiciding.
Whether you're invested in bitcoin, whatever altcoin, or even the stock markets, if you've been having suicidal thoughts, please think twice and try talking to a professional.
For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines
Not only twice but thrice because like you said, money can be retrieved thru different ways but your life is only one and if you wasted it and committed a suicide you will not retrieve it again so think thrice before doing this. We can't stop investors to think like this though but before investing, be ready in the consequences that you may face along the way.For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines
Overall, some of the investors and traders are very emotional with regards to their investments because it is their money and they've work hard for them. Just don't invest if you aren't willing to lose your money in different investments because in every investment, losses are inevitable.
Of course, the probability of suddenly getting rich, catching luck, participating in trade, or investing in a project becomes less than it was 5 years ago or more. Nevertheless, the cryptocurrency market is still a chance for those who do not have sufficient resources, and even knowledge. When investing in cryptocurrencies, a lot of things are decided by the general outlook of a person, his philosophical and practical outlook and intuition. In this case, even an amateur in trade, may be the winner by correctly identifying a promising project. Bitcoin in this sense, gives less chances, it is becoming more academic in terms of trade and conservative in terms of technical capabilities. Mental problems, in my opinion, are the lot of professionals and overwork. Here I agree with one of the speakers. Adventurers, as a rule, easily accept both victories and defeats.
I am absolutely sure that the vast majority of newcomers, and even without knowledge, will only lose the deposit.The only option when you can earn money on the crypt is to make shitcoin
, and throw it on some exchange, merge coins, and go with the money into the sunset.
Of course, the probability of suddenly getting rich, catching luck, participating in trade, or investing in a project becomes less than it was 5 years ago or more. Nevertheless, the cryptocurrency market is still a chance for those who do not have sufficient resources, and even knowledge. When investing in cryptocurrencies, a lot of things are decided by the general outlook of a person, his philosophical and practical outlook and intuition. In this case, even an amateur in trade, may be the winner by correctly identifying a promising project. Bitcoin in this sense, gives less chances, it is becoming more academic in terms of trade and conservative in terms of technical capabilities. Mental problems, in my opinion, are the lot of professionals and overwork. Here I agree with one of the speakers. Adventurers, as a rule, easily accept both victories and defeats.
I am absolutely sure that the vast majority of newcomers, and even without knowledge, will only lose the deposit.The only option when you can earn money on the crypt is to make shitcoin
, and throw it on some exchange, merge coins, and go with the money into the sunset.
Of course, the probability of suddenly getting rich, catching luck, participating in trade, or investing in a project becomes less than it was 5 years ago or more. Nevertheless, the cryptocurrency market is still a chance for those who do not have sufficient resources, and even knowledge. When investing in cryptocurrencies, a lot of things are decided by the general outlook of a person, his philosophical and practical outlook and intuition. In this case, even an amateur in trade, may be the winner by correctly identifying a promising project. Bitcoin in this sense, gives less chances, it is becoming more academic in terms of trade and conservative in terms of technical capabilities. Mental problems, in my opinion, are the lot of professionals and overwork. Here I agree with one of the speakers. Adventurers, as a rule, easily accept both victories and defeats.
I am absolutely sure that the vast majority of newcomers, and even without knowledge, will only lose the deposit.The only option when you can earn money on the crypt is to make shitcoin
, and throw it on some exchange, merge coins, and go with the money into the sunset.
Of course, the probability of suddenly getting rich, catching luck, participating in trade, or investing in a project becomes less than it was 5 years ago or more. Nevertheless, the cryptocurrency market is still a chance for those who do not have sufficient resources, and even knowledge. When investing in cryptocurrencies, a lot of things are decided by the general outlook of a person, his philosophical and practical outlook and intuition. In this case, even an amateur in trade, may be the winner by correctly identifying a promising project. Bitcoin in this sense, gives less chances, it is becoming more academic in terms of trade and conservative in terms of technical capabilities. Mental problems, in my opinion, are the lot of professionals and overwork. Here I agree with one of the speakers. Adventurers, as a rule, easily accept both victories and defeats.
In general, the topic of price and psychological health is relevant in any market. Now is a difficult time - any fluctuations in the cryptocurrency market, one way or another, leave a mark. They say that nerve cells do not recover, - I believe that the most nervous in general should be away from the cryptocurrency market. Only in a stable psychological state can one use the fluctuation in the price of bitcoin in a balanced manner. I noticed one pattern - in addition to a clear plan and its strict compliance, regular rest is necessary. A few years ago, after the next drain of the deposit, I completely tried for a week not to inquire about the price of bitcoin, which was morally stronger, I made a deposit again, and for the first few days there were only positive transactions, then again, greed, fatigue and loss of the deposit. The conclusion is very simple - the price today, tomorrow, the day after tomorrow can be anywhere, and so that your psychological state does not finally break about the price that will play against your deposit, rest more often. Do not forget that in addition to the price of bitcoin, there is still a lot of interesting things.
Thanks to OP for such an advice. One thing investors especially newbies should take into consideration is that Bitcoin and cryptocurrency in general is not a get-rich-quick scheme. The market is formed with periods of price ups and downs and it takes only the patient investor to sail through to a particular set price. It is always to set a price or target for ones investment and never be too greedy.
Above all, never invest what you cannot afford to lose - this applies not only to Bitcoin but all investments.
Above all, never invest what you cannot afford to lose - this applies not only to Bitcoin but all investments.
The market crash is a big blow to a lot of people. So many people have lost huge sums of money. But killing yourself or committing suicide during this time is not an option. Just remember that any amount lost can be made in the future, but we only live once.
They lost because they lack patience ... Also, several times I did wrong, I bought and sold wrong ... As you watch the market even when the price falls after some time and so it returns to a good price. All you have to do is wait, unless you bought a BTC for 20k $, then it's a problem... 
For some people, it's just money, but for some others, they put everything into the trading( similar situation happens in gambling also). Sometimes they put whatever he left and there are some people, who borrow money from others. They set up all future plan on the basis of his future profit only and when that goes opposite to his plans he feels blank in the head, his bad emotions come into play and he does the things only based to his bad emotions only . Such suicidal mentality rise at that time.
So before we invest anywhere we need to make plans on loss also, and we should not put everything on the investment.
Having a mindset that we are prepared to lose is good in order for us to handle the mental stress if we experienced to lose huge amount of money. We should be aware that our mental health is a great factor especially when it comes to investing and trading. That is the reason why keep investing in my trading psychology for me to understand my emotion very well, there is a saying that if you want to fully able to understand yourself; become a trader because analysis is not only the one that we are going to use even our emotions are important. So before we invest anywhere we need to make plans on loss also, and we should not put everything on the investment.
For some people, it's just money, but for some others, they put everything into the trading( similar situation happens in gambling also). Sometimes they put whatever he left and there are some people, who borrow money from others. They set up all future plan on the basis of his future profit only and when that goes opposite to his plans he feels blank in the head, his bad emotions come into play and he does the things only based to his bad emotions only . Such suicidal mentality rise at that time.
So before we invest anywhere we need to make plans on loss also, and we should not put everything on the investment.
So before we invest anywhere we need to make plans on loss also, and we should not put everything on the investment.
Agree, everything is only about money because basically money can still be obtained at other opportunities in various ways, when you lose in anything that involves money in it, at least you also have to realize if you have to have a strong mentality to be able to face any risk with quiet. So in this point I think not only mentality because on the one hand, investors must also have a good mindset going forward, because when you get the value of your investment it crashes and at the same time you also have a good mindset, at least you will not panic when facing price crashes while other investors panic because they don't have great planning.
For those of us got in the very beginning I don't see how we are affected by the Bitcoin's move.
If btc is over $1, I don't think we have a problem. To stay safu we've moved our position to physical Gold, silver, and ammo a long time ago. Debt and Exchange (that allows manipulation) is the source of your mental hygiene issues.
If btc is over $1, I don't think we have a problem. To stay safu we've moved our position to physical Gold, silver, and ammo a long time ago. Debt and Exchange (that allows manipulation) is the source of your mental hygiene issues.
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