Topic: Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 6. (Read 2004 times)

No, I won't

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.

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.

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.

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.

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.

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.

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.

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 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)

When the price starts to fall, a new buying opportunity arises. Price drops are always an opportunity in Bitcoin investment. Bitcoin investors should not expect big profits in the short term. Bitcoin has always provided returns in the long run and this is known. The declines in Bitcoin do not affect me much. I know that the Bitcoin price will rise again. Sometimes it takes a long time to wait, but eventually the Bitcoin price starts to rise.

More purchases can be made when the price drops too much. Bitcoin will always make new ATHs, so dips are an opportunity to buy.

10-20% in a day is actually surprising, knowing the actual purpose of bitcoin investment can prevent an investor from emotions and panic. Bitcoin price fluctuate so no investor will say bitcoin price can never dip, the dip is an opportunity to buy more if only an investor is not satisfied with their portfolio or else an investor can just hold for the long run. I believe every investor will definitely have their different opinion when it comes to accumulating bitcoin as most investors buy during the dip only and hold for the bull market so all this depends on the target and plan, I will always advice any newbie to continue dca strategy with a perfect plan to avoid emotions.

I will be even more happy if the price of bitcoin falls every day, because that is my chance to get a profit from bitcoin in the future. Many communities in the crypto space are praying that bitcoin's price will drop deep in the market.

A deep liquidation or correction will happen to bitcoin. It is certain that the price of bitcoin will be raised in the market, and this time there will be an uptrend again in the future, that's for sure. This means that the drop in bitcoin is an opportunity, not a frustration, for the mature crypto enthusiast.

In this phase, I never panic when the price of bitcoin goes down. Maybe now I have more confidence in Bitcoin.

Apart from that, if you always panic when the price of Bitcoin drops drastically, it must be caused by several factors.

The first factor is definitely a matter of knowledge, I'm sure you are panicking because you have a high fear that the price of bitcoin will not rise again. This thinking is quite common among beginners in the field of bitcoin investment, because of course they don't have extensive knowledge about the bitcoin price cycle, or anything else. Therefore, their minds are still filled with great fear when the price of bitcoin experiences a drastic decline.

The second factor is definitely caused by a mentality that has not been properly trained. Because according to my personal experience and also from several friends I know. Feelings of doubt or fear when the price of Bitcoin falls still remain, even though knowledge about Bitcoin has been explored to the maximum. It turns out that this is caused by a mentality that has not been properly trained or accustomed to. In essence, this is quite natural, because most people are sometimes not completely sure about an object such as a bitcoin investment asset, until they actually experience and feel it directly.

The third factor is definitely caused by short-term bitcoin investments. It is certain that short-term bitcoin investors, especially beginners, will be very afraid and worried when the price of bitcoin falls. Therefore, if you want to be calmer when investing in Bitcoin, try investing over a long period of time. Then perform DCA for every bitcoin purchase you make.

So in essence, these are the three factors that you should probably pay attention to, if you don't want to always be afraid when the price of bitcoin goes down.

Panicking is the least thing an investor should do because as many crypto people always say that cryptocurrency were the most volatile one, it goes lower but then it'll go up faster too but base on my own experience, yeah im still got nervous every low drops it takes but always remember to invest on what you can afford to lose.

When you trade then of course it makes you have to make a decision to be disciplined on the stop loss you are targeting. It seems like a normal stop loss is between 5%-8% of your capital. Then you should not panic because you have used a stop loss according to your target. But if you hold Bitcoin for a long time then it may not make you panic, but it may be a little disappointed that the price is falling. I had 3 halvings and I had a very radical decline, but I have continued to persevere to this day.

The only panic I get is not having the money to buy at every dip and currently we’re still the bill market and for each dip now, is an opportunity to buy more rather than panic because at the end of the day, if there is a panic, there is always a possibility of wanting to sell.
There have been a lot of stories in the past about bitcoin being dead and there have also been times when bitcoin even dropped even more than 10% and yet this bounced back and I also remember when Elon musk made a post of this company not accepting bitcoin but doge and it kept bitcoin at its longest stagnant point but it still bounced back.
Over years, bitcoin has proven to always recover after every bear market with a new ATH price which is a sign that bitcoin is here to stay.

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.

I am already experienced enough with "bitcoin is dead" topics and article, that 10-20% fall in a day does not scare me. What makes me even stronger believe in Bitcoin is the pointing up graph. No matter what happens, with time, the price always recovers. Moreover, I dont remember when Bitcoin really dropped that much in price. Can someone point me a day when Bitcoin lost 20% of its price in 24h? Or even 10% in last 24h?

Bitcoin price dropping 10-20% in a day is a very large amount to some people and it will definitely have a significant impact on those that are holding to be profiting sooner and are no more adding to their portfolio. This will also have effect on short term hodlers who just invest and after some few hours, they take the profit they get. It is a good one for those doing DCA and a very good opportunity for them to complete their investment target. As bitcoin continues to be in the correction mode, it’ll have effect on anyone holding them but to some, it’s an opportunity they’ve been longing for to come.

Panic and fear when seeing asset values ​​decrease or happy when seeing values ​​increase are just temporary human emotions, so anyone who says they don't have emotions is lying. Furthermore, panicking when prices fall does not mean we will sell, being happy when prices increase does not mean we will take profits.

In addition, although bitcoin is very volatile, we cannot deny that a drop of 20% in one day cannot be considered normal, and if it happened for many days in a row, it would cause many people to panic, let alone that is normal. Yesterday our assets were 100k$ but today it is only 70k$, which is not a pleasant feeling at all.