Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 5.

Mame89

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Quote from: krishnaverma on June 28, 2024, 08:52:49 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'm not panicking at all, in fact the price of bitcoin is down 10-20%, which is good because we get a discount for doing dca on bitcoin. For me, in order not to panic in investing in bitcoin even though the price is going down, you have to consider investing in bitcoin for the long term, so that you will automatically ignore whether the price of bitcoin goes up or down before your target is reached, you will still hold it.

Moreover, the current decline in the price of bitcoin is very natural, didn't the previous halving also happen like this and then the price of bitcoin rose significantly? If you look at the history of Bitcoin prices after the Halving, maybe you won't panic anymore.

EarnOnVictor

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Quote from: krishnaverma on June 28, 2024, 08:52:49 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 ?

Bitcoin is the number one crypto with the hugest market cap and it's in the mainframe of the financial market as well. For these alone, I don't get affected by its price drop. This is because I know it can't be easily manipulated with those characteristics and if it falls so much, one day, it will rise back. It has done this many times, so it will not stop doing that and it is what I call Reliability. The only doubt I have about Bitcoin is for it to hit an ATH of around $100,000, it is going to be a tough task for it. I hope this will happen one day but it might not be as quickly as many thought.

As for the suggestion;

1. Try to invest the amount of money that you can afford to lose.

2. Always try to buy low only, perhaps after a major reversal or retracement.

3. If you can't buy low, you may want to DCA, but at a reasonable price, not at the peak.

4. Be speculative. Learn how to use your trading chart correctly.

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Quote from: avikz on June 28, 2024, 10:36:40 AM

Quote from: krishnaverma on June 28, 2024, 08:52:49 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 actually rejoice when I see such kind of drops in Bitcoin price. 10-20% drop means the Bitcoin is available to buy at 10-20% discounted rate. So I try to buy Bitcoins in small amounts during search drops. If you have faith in any asset class and you are thinking of staying invested for longer term, such drops are actually great opportunities to lower your buying price. Typical DCA!

But if you have entered the market at ATH, then it's bad for heart. Grin

You don't look like a newbie anymore to panic mate and if you still do, then that was so awful.
Can you handle the people laughing at you? Lol. We as an experienced Bitcoiner/HODL'er, it was indeed the opposite reaction or action are the ones that we are going to feel or experience because we know that scenarios like this are the ones that can make us more money.

Of course selling is also there and important because how can we sell the coins that we bought at the dip then? Cheesy

. It is fine to increase our buying size when drops like that occur rarely but it was only when we do a DCA strategy is the ones that we will buy moderately.

DeathAngel

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I’m not but this period of 3 months of total stagnation with a bearish descent has got me slightly concerned. I’m not worried as I’ve been through multiple cycles but I’d really like the see the price start rising soon. It’s been a few months since the halving, we have Spot ETFs now so we should see the price start to go up soon. I feel a little uncomfortable seeing the price down near or dipping into the 50,000’s again.

wallet4bitcoin

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The idea of panic is being pushed by those traders in the space and those who are on the ETF wing.

For someone holding bitcoin as a store of value, he has little or nothing to worry about. Why worry over an asset that is not to be used for the next half decade or even more. It is consoling to stand on this part of the divide as you worry little about 10 to 20% declines.

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Quote from: WatChe on July 02, 2024, 09:23:03 AM

Quote from: bakasabo on July 02, 2024, 02:42:30 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.

The point was not in "not to worry about", but the point was that Bitcoin never ever dropped 20% before and I dont think that such drop will ever happen. Especially with current price. If today BTC cost $60k, and all of sudden it looses $12k during one day? Nobody would allow such thing to happen. And what you say it is different. A drop from $19k to $3.5k did not happen during one day. There is no need for panic, Bitcoin prices never fell so huge during one day.

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Quote from: krishnaverma on June 28, 2024, 08:52:49 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 ?

If you have been in this crypto space for a very long time you will understand how the market works you know as Long as cryptocurrency is concerned there is always a variation in their price. I'm pretty sure that those earlier investors knows how the market is, that is why they don't panick whenever time there's a dip in the price of bitcoin and other coin as well. is only those beginners who does not have full knowledge about how the crypto market works that get panick reason is because they're afraid of losing their money.

I don't get panick whenever time there's a dip in the price of bitcoin because I know it will definitely rise again, if you want to control your feeling you don't have to check your bitcoin wallet all the time maybe just once in a while. the reason why most people always panick is because they almost check there bitcoin wallet all the time, you know if you plant a seed and you keep checking it more often it will look asive growth is no longer taken place but if you leave it for sometime and come back maybe in two weeks time you will begin to experience a massive growth that's how it is in bitcoin investment.

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Quote from: milewilda on July 02, 2024, 02:20:49 PM

Quote from: Tmoonz on July 02, 2024, 01:06:31 PM

Quote from: krishnaverma on June 28, 2024, 08:52:49 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.

I would tell you, that even if you are someone whose really be that tending to hold Bitcoin for a very long time but it doesnt mean that you would really be that emotionless when it comes into your
condition specially if you are someone whose really that active when it comes to watching the market situation or condition, whereas on the moment that you would really be finding yourself
that being affected on which it would be normal because we are just humans and losing up money will really be g iving out that kind of reaction on that particular point because we do really hate up on losing
money and despite of having that long term position then you would really be still having those kind of feeling that you would be panicking.

If you are someone who had been on this market for a while then you would really be getting used to with those 10-20% movement in a day specially into those established coins
and it would really be that totally different if you are dealing with some meme coins or low caps in the market on which we know that when it comes to movement then it would really be that
entirely be that different no matter what the market condition would be.

You are precisely right on this one because if you are already that old or veteran into crypto space then you wont really be making yourself that getting shocked about on the price movement that we do have on here. You are already wary on how it moves or simply into its behavior. The only thing that you should really be that mindful is on how to play with the waves or simply with those price movement on which we know that once we do able to have a good grasps on how to buy and sell then it would really be that an advantageous thing for us. The main issue for some people is that on the moment that they are seeing price is declining then they will really be panic sold their holdings and on the moment that it will really be pumping up then this is the time that they will really be that buying again on which it doesnt really have sense on this regard.

milewilda

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Quote from: Tmoonz on July 02, 2024, 01:06:31 PM

Quote from: krishnaverma on June 28, 2024, 08:52:49 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.

I would tell you, that even if you are someone whose really be that tending to hold Bitcoin for a very long time but it doesnt mean that you would really be that emotionless when it comes into your
condition specially if you are someone whose really that active when it comes to watching the market situation or condition, whereas on the moment that you would really be finding yourself
that being affected on which it would be normal because we are just humans and losing up money will really be g iving out that kind of reaction on that particular point because we do really hate up on losing
money and despite of having that long term position then you would really be still having those kind of feeling that you would be panicking.

If you are someone who had been on this market for a while then you would really be getting used to with those 10-20% movement in a day specially into those established coins
and it would really be that totally different if you are dealing with some meme coins or low caps in the market on which we know that when it comes to movement then it would really be that
entirely be that different no matter what the market condition would be.

Dzwaafu11

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Quote from: krishnaverma on June 28, 2024, 08:52:49 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.

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Quote from: krishnaverma on June 28, 2024, 08:52:49 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, 08:52:49 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.

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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.

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Quote from: WatChe on July 02, 2024, 09:23:03 AM

Quote from: bakasabo on July 02, 2024, 02:42:30 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, 02:42:30 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.

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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.

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Quote from: krishnaverma on June 28, 2024, 08:52:49 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.

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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.

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Quote from: Justbillywitt on July 02, 2024, 04:39:16 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.

Topic: Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 5. (Read 2013 times)