Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 7.

serjent05

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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 ?

This kind of Bitcoin market price dip is not new to me anymore. I have witnessed several events like this but Bitcoin is able to recover the price and eventually rally to new heights. If Bitcoin don't have the rebound capability then we won't see Bitcoin at its current price. We just need to believe on the Bitcoin market while keeping ourselves updated on the Bitcoin events.

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

Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

Have trust in the Bitcoin market and don't be short-sighted. Bitcoin had performed well in its years despite of being highly volatile. If one has target price in mind, just have patience and that target price as long as realistic will come true.

JoyMarsha

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Quote from: PX-Z on June 28, 2024, 11:07:37 AM

You should only panic if you sell your holdings when bitcoin dips as -20% then bitcoin price increase after because it is considered as loss.

It's okay to be frustrated at the price but as long as you didnt sold your holdings you shouldn't go panic and it shouldn't be considered as loss.

I don't think newbies understand that. They always have this belief that once the amount of bitcoin they held in their portfolio is at a loss, they won't recover it back which will put them in a panic mood, forgetting that they only lose if they sell, but so longer as they choose to hodl long, they will end up to be at profits afterward.

Newbies mentality has to change on that aspect. We need to let them know that they shouldn't just focus on the downtrend of bitcoin because it will surely come up in price.

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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 ?

Like everything else, the only way to achieve this is with practice, several years ago when I was just starting out I was severely affected by those kind of movements and I got worried about bitcoin and my investment all the time, but as I learned more about this market and how it moves, I got used to it and so far I have survived two bear markets, with the crypto winter of 2018 being specially harsh, so whenever the market moves down and I see others which are just like me back then, I can understand their worries but given enough time they will learn just as I did.

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It ultimately depends on how much you believe in bitcoin. For instance, I strongly speculate it's just a matter of time before we reach the 6 dight mark in price so I have kept some sats I'm hodling for long term.

Further, I have my savings+emergency funds+other investments hence I do think I can afford to take in more risk. I believe I have managed my risk appetite well so I don't feel like I'm one step away from eating canned goods for a year or something lol.

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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...

I used to panic earlier, but I later due to being a member in this forum stopped panicking because I took advantage on the experience of people in this forum that it was a normal thing. People who still panic are new people who are mostly not members of any community where people encourage each other.

Quote from: Die_empty on June 28, 2024, 12:30:24 PM

To a large extent, Bitcoin is predictable so there is no need to be scared when the price goes down because we are aware that the price will always go up at the appropriate time.

We are used to the market, that is why we are confident from experience.

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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 ?

During my early days of investing in Bitcoin, I am always looking at the price movements. But it became clear to me that you don't need this daily monitoring if you have the intention of keeping your coin for a long time. So I have learned to overlook the daily price because it will always go up and down. This is why using the DCA method to purchase your coin is the most appropriate because you take advantage of the drop.

To a large extent, Bitcoin is predictable so there is no need to be scared when the price goes down because we are aware that the price will always go up at the appropriate time. So the best option will be to plan how you want to invest so that you don't sell your coin below the price you bought. You should always invest what you can afford to live without and ensure you have an emergency fund that will help you keep your funds no matter the financial pressure. There is no need to fret because Bitcoin has not failed to rise during the bull run.

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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 ?

Only those don't understand bitcoin very well that will be worried when the price of bitcoin is going down. When the price of bitcoin is going down it is better to just hodl because selling out the bitcoin can be at lose but while still hodling it is possible to recover your money back when the price increases again. I have understand the market very well which I don't need to be panic when the price drop. Those who are fraid when the market drop is either they do not understand the market or they are trying to make money quick from their investment.

OrangeII

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Well, that should be a normal thing, but this will cause the price effect on other altcoins to decrease as well. However, with conditions like this, we need to really think about what steps we need to take. For people who believe in the potential of the coin, I think they still won't panic, and will probably make another purchase. Meanwhile, those who panic may sell or make hasty decisions. Personally, I will probably continue to hold the assets I own, but it all depends on what information makes the price of bitcoin go down.

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I was worried about the price in 2018 and 2019, but I eventually got used to the bear markets, and Bitcoin recovering from the 2018 fall and establishing a new ATH in 2021 made me confident enough in Bitcoin in the long run. So, no, since that time, I have not been concerned with the price dynamics. I know that Bitcoin is volatile; that's how it works when the currency has no regulated price or monetary policies. Volatility is also not bad per se, as it gives traders opportunities. As for long-term holders, it is irrelevant to them, and it teaches a good lesson: patience.

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Quote from: Jawhead999 on June 28, 2024, 12:06:25 PM

10%-20% is big, but since I've hold Bitcoin since 2019 and didn't sell during Covid pandemic, I would say that I'm not panic because I trust in Bitcoin.

If you have been in this market in 2019, you have have reacted panic in 2020 with March crash because of Covid-19 pandemic announcement from WHO. It's very challenging and stressful for newbies to don't panic sell at that moment.

You succeeded to hold your bitcoin because you joined this market earlier than 2019, that's true.

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As long as you invest what you can afford to lose, I think you will not panic even though Bitcoin price falls really big.

If they started not with this mindset, they will not be ready for market volatility and will be most favorite targets of market makers. Less prepared means more easily to feel fearful and panic sell as expected by market makers when they release fud news.

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Invest is for long term prospect, even though there would be many moments could make you in doubt, as long as you hold your coins, I'm sure you will not regret.

ROI from Bitcoin investment in long term is very good and it has been proven since 2009.
https://casebitcoin.com/

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Big drops happen. They can even make the most experienced investors a little queasy. But if you did your homework, this is nothing new. When Bitcoin was worth about $30000, I made my investment. And I have my eyes fixed on the $120,000 (maybe more) prize. That is the long term strategy. So when these little dips happen? They're just bumps in the road.

Dont bet the farm on Bitcoin. Diversify. Spread that risk around. And dont check your portfolio every five minutes. It should be done once a month. Every small fluctuation on the charts should not terrify you.

Everyone takes losses. Even the big guys. Its part of the game. But the winners? They calm down. They follow the plan. They pick up lessons via their errors. And they are aware of this: the money is not everything. Its about having the guts to stick with it. Its about being smarter than the market.

Jawhead999

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10%-20% is big, but since I've hold Bitcoin since 2019 and didn't sell during Covid pandemic, I would say that I'm not panic because I trust in Bitcoin.

As long as you invest what you can afford to lose, I think you will not panic even though Bitcoin price falls really big. Invest is for long term prospect, even though there would be many moments could make you in doubt, as long as you hold your coins, I'm sure you will not regret.

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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 ?

This is more like asking us are we still human, or have we evolved into robots. Of course its natural to feel some sort of disappointment when you see your portfolio go down in value. I only encourage myself with bitcoin proven track record of bull runs. Beyond seeing it ass an opportunity to increase your portfolio, Every Investor now is in great expectation of the bull run and don't feel too happy when the prices keep going down.

The good thing is that we've seen it before and we're convinced that the season is on the way. That singular hope keeps is optimistic and encourages us to BUY AT THE DIP AND HODL until the bull run comes around and we smile.

Quote from: Oshosondy on June 28, 2024, 09:55:28 AM

it would be a profit for me later as it is giving me another opportunity to invest in bitcoin at a lower price..

Definitely, we all need to accumulate as much as we can before the bull run arrives, that's the only way to making profits as investors

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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 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

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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 ?

Bitcoin price has been dumped from ATH several times like in 2017 after first ATH at $20k it dropped back to $3200 and again made a new ATH at $68k but then again Bitcoin price came down to $15k. So when the price of Bitcoin drops by 15-20% it can definitely cause panic. Because it has been seen that Bitcoin has been dumped a few times before but it recovers again. However, if the price is high and Bitcoin can be sold and bought again at the dip, then during the next ATH, a lot of profit is available. For this reason, it is normal to feel some fear when the price of Bitcoin starts to decrease significantly.

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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 ?

Honestly speaking I used to be, but years passed now I got used to it so even if the price dumps 10 or 20% it does nothing and when such incidents happens I don't look into my portfolio tracker and you can also follow it because that's what frustrates us, so avoiding gives us the space we needed that time.

And for long term holders such dumps are profitable because they will just look in the situation as 10 or 20% discount on the original price.

PX-Z

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You should only panic if you sell your holdings when bitcoin dips as -20% then bitcoin price increase after because it is considered as loss.

It's okay to be frustrated at the price but as long as you didnt sold your holdings you shouldn't go panic and it shouldn't be considered as loss.

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I only panic when the price goes down and I`v got no cash to buy some more

Ruttoshi

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I don't panic when the price of bitcoin dips because the price will not keep pumping but will also dip. I am new to the market but with the little experience that I have in the market, price dip is an opportunity to buy bitcoin in discount price.

I have not reached my bitcoin target and I am a low coiner which makes me always DCA weekly. The dip is good for me because it increases my portfolio faster. I am hodling my bitcoin and will not sell soon which makes me ignore the market movement.

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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 ?

Newbies are more sensitive and vulnerable to Bitcoin falls, drawbacks, crashes because they don't understand about the market cycle exclusively psychology cycle, and mostly don't have good strategies for their investments. Many of them even don't actually have plan for investment, just for speculation and want to join a Get Rich Quick Game.

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Or you are no longer affected by such price drops and continue to invest on each dip ?

More experienced participants in the market will be less affected because they used to be newbies and felt panic many times but years and cycles later, they look back and see how naive and stupid they were in the past. Knowledge and experience are keys for experienced people to have diamond hands.

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Any suggestions on how to control own feelings in case of such drastic drops in bitcoin price ?

Three of my topics can help

Are you ready for the Bitcoin bull market? What's your plan? Some ideas for you
DCA vs Smart DCA, what do you choose?
Bitcoin price history, ATHs and bottoms. It includes bull market drawdowns that are enough to create fear and panic.

Topic: Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 7. (Read 1060 times)