Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 2.

Dzwaafu11

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

As an investor who knows what he is doing, there is no reason for panicking since you knows what he is doing, there is no reason for panicking since you know how the investment works and I know every single rule and risk of the business. I don’t need to panic. I know that regardless of how dump the market is, it will still pump and hit the target I want, but it will take time to do that. Since I have planned to invest in it for a long period of time, I definitely don’t need to panic. However, %10 to %20, I think, is too small for an investor who knows everything about the market to panic.

tread93

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

I stopped checking the price all the time a longgg time ago. With my mind set on like 2030 and beyond before I even think about touching any Bitcoin. I am just trying to stack as many Sats as I can. Every time I watch the news and see what is going on in the world it’s just a constant reminder why my decision to HODL seems like a better idea each and every day.

Tmoonz

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

There is no reason good enough to panick if the plan or target is for longer period of time, considering the fact that Bitcoin is still a growing digital asset, panicking on seeing a drop is mostly associated with traders with a short term view of their investment, while panicking when Bitcoin is still best coin that has a solid foundation such that even when it drops there is a higher chances of it going higher even more than expected, an ideal investors with a long term goal Will never panick for any drop but will rather take advantage to buy even more Bitcoin at every opportunities if there is any money readily available for investment.

Woodie

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10-20% drop is nothing for one to panic tbh, and I think I have seen it all when it comes to Bitcoin price movements over the years.
A few years back when Bitcoin was really volatile to the extent of losing that much in a day and the following day it regains the 10% drop there was so much panic and FUD which actually pushed price to be volatile, but after most Bitcoiners actually realised the damage was done by themselves seems the panic was removed from the equation and price as stabilized ever since.

So would I panic for a 10-30% drop, no I wouldn't as the past as taught us to keep calm in such situations.

DiMarxist

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People want bitcoin to go down like the way it happened in 2022. And I don't think for now it will reach that price again except after next year from April. And that was what happened in the previous bear if we go with the historical downward of bitcoin. After halving, the All Time High came in 2021, and the bear market came in 2022.
Therefore, we had the halving this year April so we might have the All Time High next year then from 2026 we might experience the bear market and in 2027 to 2028 another bull run.

Just Say

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Quote from: WatChe on July 02, 2024, 10:23:03 AM

Quote from: bakasabo on July 02, 2024, 03:42:30 AM

Maybe you can search for a 20% drop in one day example also? However, I doubt that you will find any one recently. It isnt complicated to find a <10% drop per day. 3-5% drops happens quite often recently. But a huge drop is a very, very rare case for Bitcoin. That is why I am so calm when I see topics about people sell in panic their Bitcoins. And as price grows, such huge drops becomes more rare and rare.

There is nothing to worry about Bitcoins dips whether its 10% or 20% a day, important thing is Bitcoin has the tendency to bounce back strongly after every dip. There are instances available where Bitcoin has gone down considerably over a period of time like Bitcoin saw it's ATH in Dec 2017 when price of Bitcoin was around 19k and year later in Dec 2018 we saw Bitcoin price down to 3500$.

I think so too because bitcoin price dropped by 10 to 20% a day is nothing to worry about. Because the price of Bitcoin recovers quickly. Last year we saw the price of Bitcoin drop to around $25,000. From there, the price of Bitcoin briefly recovered to $35,000 even after the ETF was approved, we saw a different pattern in the Bitcoin market. Since then, the price of Bitcoin has risen to an all-time high.

Quote

If one want to get benefit from Bitcoin then he has to think about long term investment since price of Bitcoin is going up with time all the time.

If someone wants to make a profit by investing in bitcoins, he should wait and hold his bitcoins for a long time. Because it is normal for the market to rise and fall, those who will be able to hold patiently during market dips they are be successful during bullish periods.

WatChe

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Quote from: bakasabo on July 02, 2024, 03:42:30 AM

Maybe you can search for a 20% drop in one day example also? However, I doubt that you will find any one recently. It isnt complicated to find a <10% drop per day. 3-5% drops happens quite often recently. But a huge drop is a very, very rare case for Bitcoin. That is why I am so calm when I see topics about people sell in panic their Bitcoins. And as price grows, such huge drops becomes more rare and rare.

There is nothing to worry about Bitcoins dips whether its 10% or 20% a day, important thing is Bitcoin has the tendency to bounce back strongly after every dip. There are instances available where Bitcoin has gone down considerably over a period of time like Bitcoin saw it's ATH in Dec 2017 when price of Bitcoin was around 19k and year later in Dec 2018 we saw Bitcoin price down to 3500$. If one want to get benefit from Bitcoin then he has to think about long term investment since price of Bitcoin is going up with time all the time.

Forever101

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You have asked a good question, I can relate base on experience when I first started the bitcoins journey, I nearly develop heart attack, as i keep checking the price every minutes ,lol. Until I was unable to access my account during bullishness due to faulty phone then the bearish market hit hard, since then, I learnt how bitcoins really worked. The problem of worrying on bearishness is due to the absence of the knowledge of how bitcoins works. If anyone really understand the principle of bitcoins and the history of bitcoins , definitely they will have nothing to worry about.

Some will definitely worry about it because they have invested their life saving or borrowed money on a voltile asset such as bitcoins.

Barikui1

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

No, I don't panic, because their is actually no need in panicking when I am quite confident in what I invested in, which is Bitcoin, see to tell you the truth bro, if you as an investor invest with the purpose of holding for a long period of time, you wouldn't be bothered by any deep in price, you will only see every deep as an opportunity to acquire more Bitcoin, because that's what rich and more knowledgeable investors do in the industry, not panicking, it's only impatient investors or those traders that sell at any slit increase in the value of Bitcoin that get bothered when the price of Bitcoin deep further.

another thing that should make you not to panic is that, if you look at the historical movement of Bitcoin over the years, you will know that it always rally back, irrespective of how deep it value went, so as a sane investor, the best thing to do when the value of Bitcoin deep is to buy more, if you have the financial leverage to do so, so it's not a time to panic.

aoluain

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Panic is for newbies, just as FOMO is also, they are reactions to temporary market movements.
You would only panic if you think or believe that the market will never rise _{or fall} again.
If you adopt a long term outlook ^{if practicing DCA and not trading} daily market movements
will largely not be a concern - its a frame of mind.

as others have pointed out if the price falls 10 - 20% in a day, the market offers an opportunity to
buy yet again the dips and add to DCA.

Princess Leah

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Quote from: Justbillywitt on July 02, 2024, 05:39:16 AM

Why will I panic in something I have no control over, and something that has been here for many years and has been having similar characteristics over the years?

I used to panic a lot and worry about losing all my funds not until I discovered that Bitcoin is volatile in nature, then It made me wonder why i would panic over something I have no control over, something that can't even be influenced by the government and keeps portraying same characteristics after every four years, those are the thoughts that made me genuinely believe never to panic when Bitcoin drops in price.

Rencently I invest in what I can afford to invest for a long term and see the drop in price as an opportunity to buy more Bitcoin, hold it for the next bull season to take profits and then invest again whenever the market gives an opportunity and it's play well for me, the past halving has taught me several things so I see no reason to panic.

Those who panic are people that don't understand how the market operates, cause anyone who's made up their mind to buy Bitcoin and hold wouldn't panic over a slight drop or much dip in price but would seize the opportunity to acquire more if they're opportuned with more cash to spend on it.

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

No, I won't

Justbillywitt

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

Why will I panic in something I have no control over, and something that has been here for many years and has been having similar characteristics over the years? Speaking form my own experience I don't get bothered about those things anymore. I made a resolution sometime ago that what ever will happen in bitcoin let it happen. The worst that can happen is that bitcoin will get to zero and it won't be able to remove one hair from my body. I made that decision during the Covid-19 pandemic period. If bitcoin could survive that period and I survived as well, I don't think 10-20% drop in a day will move me.
The only advice I can give you is to invest in bitcoin with a long term hold perspective. Don't look for quick profit, that way you won't be bothered even if there is a drop that's more than 20% in a day. Long term holders will see that drop as an opportunity to buy more stash.

SmartGold01

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Quote from: bakasabo on July 02, 2024, 03:42:30 AM

Quote from: WatChe on July 01, 2024, 07:14:46 AM

Quote from: bakasabo on July 01, 2024, 06:25:28 AM

Can someone point me a day when Bitcoin lost 20% of its price in 24h? Or even 10% in last 24h?

Bitcoin fell by more than 10% after the tweet, while Tesla shares also dipped. Source
Bitcoin price went down more than 10% on May 13, 2021 after Elon Musk announced that Tesla won't accept Bitcoin as payment option due to climate change concerns.
There are many such dips in Bitcoin's history of 15 years and whenever there is dip it's seen as an investment opportunity by mature investors. I am also not very worried about sudden dips of Bitcoin as I am convinced that Bitcoin will eventually recover sooner or later.

Maybe you can search for a 20% drop in one day example also? However, I doubt that you will find any one recently. It isnt complicated to find a <10% drop per day. 3-5% drops happens quite often recently. But a huge drop is a very, very rare case for Bitcoin. That is why I am so calm when I see topics about people sell in panic their Bitcoins. And as price grows, such huge drops becomes more rare and rare.

You are right never seen this happening in the market before and could be difficult to see such thing happening just like that in the market. When people sells their bitcoin it makes not knowing the important in bitcoin they are holding, when user sells their bitcoin so quickly due to panick when seeing price depreciate so quickly makes me feels as if they don't know why they are investing in bitcoin because if they there isn't a way they could panicked and sell. Except they are beginners who are practicing how to sell and buy bitcoin or could hold their emotions seeing price drops uncontrollably on them.

MarjorieZimmermanGinger

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

In the past, I also experienced panic when the price of Bitcoin decreased every day, but as time went by I realized that the decreasing process was the best opportunity to accumulate purchases. If you want to control your feelings then it's best to invest in bitcoin for the long term so you don't have to check it all the time. Bitcoin has a repeating cycle and if you understand the process you will understand much better how to control panic and feelings.

Which makes you more panicked when involved in short-term trading because it is difficult to decide on losses when the price of bitcoin experiences a sharp decline. But if you are running a long-term investment, falling prices are not a problem because Bitcoin will definitely find recovery.

Dave1

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

It's normal to panic, but the question is what are you doing if there is a massive drop? Do you sell or continue to buy and do DCA? Perhaps for newbies, they are really afraid when they see their portfolio going down and so they push the sell button, but they might regret their decision later.

As compare to those who have been in the market for so long, maybe when they see a downward spiral, their buying mentally is going to be activated and so instead of being nervous and panicked, they understand that this is a great opportunity and look at the situation in a positive way.

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

Fore I think that Bitcoin investment shouldn't be done with souch emotions attached to it, if it is about volatility that is even what makes Bitcoin more interesting, I think is more like it's culture or custom to go up and come down too. Most importantly Bitcoin price coming down should be given those that don't have or those that have to to be adding more to the one they since buying when there is drop will the opportunity of buying more quantity at a lesser amount, panicking when there is drop is most associated with those that buys Bitcoin for a short term profit maximization while those with long term takes such advantage to buy more, another thing is that to one should investment from a disposable income after taken care of your personal needs so that even there is drop you will not panick especially if it is a long term goal and objectives.

bakasabo

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Quote from: WatChe on July 01, 2024, 07:14:46 AM

Quote from: bakasabo on July 01, 2024, 06:25:28 AM

Can someone point me a day when Bitcoin lost 20% of its price in 24h? Or even 10% in last 24h?

Bitcoin fell by more than 10% after the tweet, while Tesla shares also dipped. Source
Bitcoin price went down more than 10% on May 13, 2021 after Elon Musk announced that Tesla won't accept Bitcoin as payment option due to climate change concerns.
There are many such dips in Bitcoin's history of 15 years and whenever there is dip it's seen as an investment opportunity by mature investors. I am also not very worried about sudden dips of Bitcoin as I am convinced that Bitcoin will eventually recover sooner or later.

Maybe you can search for a 20% drop in one day example also? However, I doubt that you will find any one recently. It isnt complicated to find a <10% drop per day. 3-5% drops happens quite often recently. But a huge drop is a very, very rare case for Bitcoin. That is why I am so calm when I see topics about people sell in panic their Bitcoins. And as price grows, such huge drops becomes more rare and rare.

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Quote from: krishnaverma on June 28, 2024, 09:52:49 AM

Are you one of those who get panicked when bitcoin price falls by 10-20% in a day ? Or you are no longer affected by such price drops and continue to invest on each dip ? Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

I know how volatile bitcoin is so if there are price drops happening every now and then, I don't see it as an odd but part of its volatility, and never gets panicking because eventually the price changes from time to time. Instead, I just take an edge everytime there is huge price drops and start buying at its dips.

Being emotional most especially if you are seeing your investment is dropping is a normal thing. But going beyond that just to validate what you feel and end up panic selling, that makes it so wrong. Instead, just keep calm and learn to control your emotions, that's the safest way so you won't lose all your future profits because of jumping into conclusion and making wrong decisions when you are highly emotional and inflexible.

johnsaributua

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When there is a drastic decline, if I have more money and have previously sold bitcoin, of course that's what I hope for and I feel happy Grin

because my chances can get more sats (decimals) with the money I have. Likewise, on the other hand there is sadness because the portfolio is reduced. Indeed, the investment mindset was like that, but the feeling is certainly different because my goal is to at least be able to manage the portfolio intact / well. If there is a potential for too deep a decline, of course I will sell it if I still have it, and I will buy a few % below the current price, even though it is against the hodl style but so far I am comfortable rather than having to blame the market, bitcoin is the right asset even when the dump or pump perspective on bitcoin is still good, even though panic selling occurred in the period leading to the halving yesterday (2020-2023) Grin

Topic: Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 2. (Read 1060 times)