Topic: Current scare affect the decision making of starters. (Read 273 times)

Bitcoin is the king. No matter what people still benefit from bitcoin. The best idea hodl and maintain good strategy.
Remember what is difficult for you is also difficult for someone else what differentiates you from the rest is your ability to learn and use experience to grow your portfolio.

 
If I have no idea what will happen in the cryptocurrency industry tomorrow or in the near future and I am holding some amount of Bitcoin and the price of Bitcoin is dropping, I will surely panic because I am not aware of what will happen in the future. Maybe the price will keep declining; I don't know, and that is what normally puts fear in our minds as newbies. I believe that only those who have good knowledge about Bitcoin or who have experienced the decline of Bitcoin's price many times before will be the ones who are strong and will not panic.

This is an important aspect that all bitcoin investors and enthusiasts should know and not only limited to newbies alone. Bitcoin will never reduce in quantity if at all you don’t sell any of them and keep them when experiencing market crises. The moment you sell them in fear of losing them more, that’s when you’ve started losing your money. For those that have understood the market more, downtrend of market is always an opportunity for them to buy more and not to sell their bitcoins.


Checking data’s and news about bitcoin is indeed helpful and can serve as a guide on your decision making idea. But also have in mind that the bitcoin market is unpredictable and things can turn side ways from the way you’ve seen it in the past. Understanding the market thoroughly will really help in this, even if there’ll be a mistake, it won’t be that bad that you can’t predict some of its outcome.

I guess I agree with your assumptions guys - but this concern affects not only beginners, but also experienced users. As a result many investors are expected to be more careful in making decisions – this will help them develop their investment strategy.

Mental readiness, knowledge and the like are the most important things when starting to invest – but of course unforeseen things can happen so they will also make adjustments. If they are long term holders - then it is unwise to be swayed by market corrections. While accumulation tends to be expected - it is useful in building his portfolio for the better.

It would be better for them to feel difficult and worried if they want to invest in crypto in the first place. Because, with this, they can be more alert and careful to decide whether they are really going to get into crypto or not. This could encourage them to prepare themselves better, regarding their understanding of crypto and also their mental readiness. Rather than a starter who only has reckless and courageous capital without having strong knowledge and mental readiness, and only with their high hopes. This is precisely what is sometimes worrying.

Those who do not understand how the Bitcoin market works will really got scared of the current trend of the Bitcoin market price.  For those who do their research, this dip can be a motivation because of the opportunity to buy Bitcoin at a lower price.  If they understand the Bitcoin market and its cycle, they will eagerly buy Bitcoin at a discount because when the market transitioned to bull run, the market may not be able to revisit this price range again.  For those who have funds but hesitant will miss out on this great opportunity for sure.

To those who has Bitcoin, nothing to worry, they just need to hodl and wait for the market to recover and eventually surge.

The way Bitcoin is moving right now is inappropriate even to me, but if you claimed you would keep an eye on its development, you would not make any investments. I was terrified when I saw it dump, but I just have hope that it will no longer be dumping since I understand that no condition is ever going to last forever.

I'm not sure how you can come to a conclusion like that when bitcoin has lost so much value in the past month. Panic has hit the market and it's hard to even expect the panic to subside while the market is trying to recover. The price fell too fast which is probably the effect of the panic reaction of traders, but of course things are hard to say for sure.

Sure, but not everyone will do it especially since they don't have the budget.
Even if there is a budget, they need adjustments due to inflation and increasing living needs. Fiat has lost so much value that potential investors need to make some adjustments so that they don't cause problems when they want to invest in bitcoins and accumulate them.

I don't see much panic in the air this period that Bitcoin dip in price,  it seems as if newcomers are becoming more aware of the advantages that come along such Bitcoin market reactions,  many may have already taken advantage of the discount price presented by Bitcoin to increase the bitcoin holdings and also to buy only amount there can afford to hold for a long term.
So the recent market dive didn't create too much panic for the newbie rather it gave them another chance, Only the weak hands would panic and dump at a loss,  but the smart investor would take advantage of the market.

I wouldn't be surprise to see beginners scared on the price of bitcoin because even old timers that don't understand bitcoin movement might also get scared and sell their bitcoin. Knowledge and guardians is what those who are in the panicking mood presently needs,so that they don't regret their actions later when the price of bitcoin recovers.

 This is my first time to experience the downturn in bitcoin price to this level but I am a newbie and have the intention to buy more bitcoin so that I can accumulate to a certain amount before the next bull run and this is why I am not in panic. I believe that in whatever price we find bitcoin to be there are people that will benefit from such price. I wish I had a good cash inflow this is the best time for me to buy in lump.

Yep, I get OP's drift there. However, while I like teaching new users on stuff like this; I still believe people should be allowed to make their own mistakes so they can easily learn from it and move on. A few days ago I was teaching some folks the difference between knowledge and experience. To wrap it up, I told them knowledge is the experience of others that we learn from reading books or oral stories told to us while experience is our firsthand knowledge of something happening to us. That's why they say experience is the best teacher. No matter how hard and truthful you want others not to make your mistakes you will still find most of them committing those same mistakes. You know why? It's simply because people learn faster from experience than from knowledge.

Actually sometimes I think it's okay if a beginner makes the wrong decision when they're just starting out because they panic and don't have patience. Things like that are a natural thing in my opinion, because some beginners sometimes don't have a mentor and enough knowledge to direct them to make the right decision when they first join.
I think the most important thing for beginners is not to give up easily because at the beginning they made some wrong decisions because of their limited knowledge and mentality. Some beginners, in my opinion need valuable experience and bitter lessons to be able to make or shape their readiness in this highly volatile market.

Yes it's true about the right decisions will indeed bring big profits, but sometimes even the wrong decisions can also provide valuable experience for them to be better able to make the right decisions in the future.

It's normal for newcomers to panic even the old timers also panic. Well, if they want to sell their bitcoins then let them sell it and you will see who remained holding their crypto and know who sold their crypto. Well, some people sell their Bitcoin and bought stable coins and sell it once the price of Bitcoin is stable enough (the price is not decreasing much or the price stays a certain price range) or when it's increasing. I would have done the same if I am panicking but I not.

It’s normal for beginners to be scared of the current dump happening, it once happened to me when I was a beginner, and I was also scared. It's not really easy to see your money dropping, but beginners should have believe that the dump is just temporary and with time it will bounce back. If you are a professional, I see no reason why you should be scared of the dump because it’s not a new thing. Everyone that has spent time in cryptocurrency will understand how it works, and they don’t have to panic. It's annoying when I see professionals panic when bitcoin dumps. They have the experience already, and they should know it will bounce back no matter how it dumps.
 
So I am encouraging the newbies just joining cryptocurrency to have patience in the current market conditions. They should just keep on having patience, ignore their wallets, and stop checking them frequently.

You are encouraging the newbies to grab extra funds to play with the market, but I believe that’s a really wrong idea. The market is currently really dangerous, and don’t be surprised if the market ends up playing with them. If they have extra funds, they can just invest more and ignore it, but don’t try to play with the market.

To me it's all about perspective. The glass is either half empty or half full depending on how you look at it.
The current price of Bitcoin can be an opportunity.
I personally didn't see this coming to be honest, I thought the lowest Bitcoin price will get to in a long time is 29,000 dollars after reach 31 and 30k.
But this can be an opportunity to buy Bitcoin at a lower price. Now we have an opportunity to buy Bitcoin for 26k instead of 30k.
That's like a 4,000 dollar discount. 
Every time Bitcoin dips is an opportunity to buy at a relatively cheaper price
It's a discount because we all know the price will still go up, it's the actual time that we do not know, but what's certain is that it will go up.
So in as much as I would love Bitcoin price to get to $70k ASAP, we have to see every dip as an opportunity to to exploit the discount if you have the funds to buy.

Speaking in the context of a market moving in a negative direction, it is necessary to consider all decisions before regret arises when the market starts moving in a positive direction. Patience needs to be formed in beginners when facing a market that is fluctuating downwards, they must be able to control their emotions in order to save the value of their assets.

The right decision will bring big profits, when the market is moving in a negative direction, you should increase the number of assets while the price is cheap. The Bitcoin market that moves in two directions always gives a different feeling to Investors. Beginners need to build character to keep their emotions in check when market conditions are unfavorable.

Either they sold their coins or they continue to hold their coins, both of them will give them a lesson. If they sold their coins and after the next month, Bitcoin price recovered and reach more higher, they will learn what is holding. If they continue to hold their coins and still don't want to sell their coins when Bitcoin price increase a bit which they can use that to take profit, they also learn how to control their emotion.

This is actually the right time for a beginner that seeks knowledge to start because they can get bitcoin at a very low price. Only people that think it is a get-rich-quick scheme will be afraid to invest or join because they have no guarantee of when they will be making a profit if they invest now.

This is applicable to altcoins, but Bitcoin did not need all these; just create your wallet, save your seed phrase, and invest the amount you can afford to lose. Then keep holding for a long time until you are satisfied to sell.

I was expecting that to happen, in fact, even old timers are still in a panic situation - this is really how the dumps affect an individual's mindset. This really means that if you never know what the crypto space looks like and don't understand the volatile behavior of the market, I can assure you that everyone could be in this panic state.

That is why before we have to start investing in Bitcoin, we have to assure ourselves that we are ready to face the challenge and the consequences as it comes whether we like it or not. And the only thing we do is to become strong and have faith on our invested project.

As for newcomers that think the price of bitcoin is only going up,this is their time for them to learn and gave experience on the market to become strong in the next circle. The chickens among them will panic and sell off but they will regret it later because the price will pump again. And the newcomers with strong mindset and has been told about the fluctuating price of bitcoin and knows that it is for long term investment will hold and remain in the game. Experience is the best teacher and this is the best time to learn on bitcoin price movement to become stronger in hodling.

It seems not to wonder and I understand why because if you are also in their position, fear and worry could be in your mind as well. But because we are already exposed to this kind of situation, we know what we are going to do next and that is to hold and calm.
Perhaps they will know when they will find it and if they'll think differently. Many newbies have already done the research, they are new yes but their understanding is quite huge already. This is a huge advantage when you do a dip research before investing in something. It is very important and for us not to get surprised by whatever will happen in the market.

I remember the market was literally dead when I joined Crypto, i.e. in march 2020. Covid was going on and the prices literally dropped a lot. And I actually thought that Cryptocurrency or Bitcoin is about to die. So I didn't bought it for the next 2 months and then, I bought in. I am lucky that I was able to buy before a massive bull run. I had never seen something like that happening in my life. Like some coins were literally 100x. Yes, 100 multiplied by your investment. Bitcoin literally went 20x within a year and half. Bull runs are crazy.

Any newcomer in the crypto market who invested in Bitcoin will surely be scared of what is happening around the Bitcoin market. Imagine if a newbie bought a Bitcoin last week and the dump that happened recently will make that newbie think and question himself about buying Bitcoin at the wrong time. This is why as a trader you are not expected to go all in when buying Bitcoin, you can divide your funds into two parts and use one part to buy Bitcoin and the second part to buy when the Bitcoin price dumps more. We must know this in our minds after the bear market comes the bull market.

Most likely it's going to be a big lessons for them, I mean, if you are a starter or beginner here, you are going to be scared to see the price going down to $25k. However, if you are going to closely analyst it, well it's a good thing that this happen this downturn.

For once, the price is going to be cheap and at a discount, second, as I have said, learning curve here, you are going to ask yourself whether to buy and what you are going to do? yes, you are going to HODL on it. So that is another lessons, you need to be a long term to be able to make money in the next bull run.

Lower prices are like bonuses for anyone looking to buy, so any starter who gets in when the price is low or dropping is quite lucky cause they can get some bitcoins fo less dollar bills. Everytime is a good time to buy if the asset is a good one, but buying the dip is far more beneficial in the long run.

Getting in when prices are low also indicates that you're not solely influenced by the price or fomo around it. Such people are more likely to make a better decision than others.

Edit; this is my post number 5000 
Been an amazing short chat with you all.

Not only newcomers, but even those who have been here for a long time and have not learned their lessons or observed the market closely. There's only one simple principle that I always follow, and I'm consistently profitable with it: buy when the market dumps and sell when the market pumps. This process occurs frequently in this highly volatile market.

The thing is, if people panic, the price becomes cheaper, and that's when whales take advantage of their influence. Later, they can easily pump the market to make quick profits.

So what? OP, do you care about newcomers' decision to be so nervous and, with some market turmoil, to panic and dump their holdings? Only the strongest will remain on stage. Sometimes it seems that this is precisely what such volatility works for—to shake off newcomers. How will these people know they made a mistake? Only when they see the growth of Bitcoin, but their reserves will be at zero. Maybe some who are very hesitant will sell everything, but others will get a good experience and understand more about the value of Bitcoin.

We all started as newbies and all had fearful feelings when we were newbies. We must be in the market long enough to witness many market crashes together with fud and also witness market recoveries later to understand that fud does not kill Bitcoin and Bitcoin market.

After having enough experience, we will become more calm when facing with market crashes and FUD. With our experience, we will be smarter, less greed and if we don't have opened positions with leverages, future tradings, we have better ability to be calm against market massacres. No education is enough and can help a newbie quickly gets that emotional and psychological control, it takes time and own experience.

In my opinion, the easiest thing to do as a beginner is buy bitcoin, hold your bitcoin, and learn more about bitcoin and cryptocurrency.
Forget about all the downtrend in the bitcoin market for now; it is just a matter of time, and everything will be ok.

Currently, the bitcoin market price is experiencing a decline, which is sure to shake the minds of beginners a little. But actually, if you look at the potential for bitcoin in the future, I don't think you need to worry or worry. Because it is certain that the market price of bitcoin will rise again. Moreover, in the next year bitcoin will face a halving cycle, and after that it is usually followed by a bull run market which is bound to happen. So basically beginners who are investing in bitcoin don't need to worry about the state of the bitcoin price which is currently experiencing a decline. In fact
the price decline that is happening to bitcoin as it is today, can be used as an opportunity to buy bitcoin again, which is then held for the upcoming bull run market.
Yes, you are absolutely right, when the bitcoin market is experiencing a decline, usually beginners who don't know the potential of bitcoin in more depth, there are two possibilities for what they will do. The first possibility is that he will sell his bitcoin assets, because the fear will go down. Then for the second possibility there are those who survive to hold on to the bitcoin assets they own. But for now, I'm sure most beginners won't make mistakes, such as selling their bitcoin assets at a loss.

"Newcomers to the cryptocurrency market are often like half-baked cookies- So, fellow half-baked cookies, embrace the learning curve, keep your stash close, and remember, even the best cookies sometimes need a bit of time to get that perfect golden brown!"

Can't blame starters to get scared about the current condition of bitcoin since no one like to see how the market move in negative direction but they should know that there are some ways that can make them avoid losses and that is.

In my opinion this is the few best things that need to consider.

Hodl since the only thing they lose is the $ and not the volume bitcoins still 1:1 ratio so this is best to do.

Decision making is also critical since we need to see each situation will occur and if we rush to decide without even thinking the whole point for sure we can lose our funds on simple mistake.

Fund management if they can able to grab for another funds they can set aside their funds experiencing some down turn and use an extra money to play with the market again and earn.

Proper researching by checking data's and news since this is helpful for us to learn.