Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 8.

Stable090

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Quote from: SickDayIn on June 29, 2024, 07:07:47 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 ?

Honestly I am not affected by this at all. I dollar cost average, so whether it goes up, down, or sideways, I am still gathering coins every single day.

If you gather bitcoin every single day, then I can’t just imagine the amount of bitcoin that you will be holding currently. When did you start accumulating bitcoin? Because I don’t really believe you when you say you are accumulating bitcoin every single day.

Quote from: chigo on June 29, 2024, 04:43:22 AM

That's what I'm waiting for. Because with Bitcoin dropping 10-20%, it means I have the opportunity to buy bitcoin at a cheaper price and I can save more money than I would have spent otherwise.

People already holding bitcoin won’t really want that to happen, but people that are yet to buy will want a drop in bitcoin price before buying. But no matter how low bitcoin prices go, some people aren’t going to accumulate more bitcoin, they will always want the bitcoin price to go lower, and they will not buy even if it goes lower. They are always saying they want the bitcoin price to drop, but they will never buy even if it drops.

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I only panic when I don't have any fiat to invest while the price is nice and low...

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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've grown past that stage when I usually used to get worried when ever the price of bitcoin wasn't or isn't performing as I expected it to, most especially if this is happening when I just invested in bitcoin and had intentions of selling it for profit in few days; a week or two, I've learnt to completely ignore the market whenever prices are declining Instead of rising, and to be honest wit you, it's really has been very helpful, this has made me more and more confident in myself, my decisions, and most important, it has helped me to enjoy better mental health.

It is important we understand that panicking and worrying over bitcoin losing 10% to 20% of its price value in a day won't solve the problem, worry and panic won't turn the market around from the path it's headed.
So, for a good mental health, it's important we always view such decline in price as a buying opportunity, rather than something to worry and panic over.

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It's normal to feel nervous or somehow panic if it is a sudden 10-20% decline with the market price simply because that would be an instant display of loss to your portfolio. But again, what matters the most is your action; would you be selling at that moment to cut loss or be firmed and wait for the market price to recover. Keep in mind that as long as you are not selling, loss would be temporary. Once the market recovers, things will again continue. Always choose to calm yourself as much as possible and avoid doing things because of your emotions. One reason why knowledge is important to anything that you are engaging yourself with especially investments because it involves your money. The market itself is unpredictable and the best thing to do is to be patient of things.

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Quote from: salad daging on June 29, 2024, 12:03:08 PM

-snip-
For now we don't need to panic, this is not a bearish season that will continue to go down, this is just a correction and the price will bounce again, what we think about is how to buy more during a situation like this, because we are confident that bitcoin will not fall deeper.

Buying more requires spare money that has been prepared from the beginning. That's why it's important to do good management so that the use of money for investment can be maximized.

Getting a cheaper price is an opportunity that will not be easy to get, even when the market is bearish many people start selling because they are too panicked.
But instead we should buy it gradually or wait below the strongest support price.

Ultegra134

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10% to 20% is a huge range, and with that being said, it's difficult to provide an accurate answer. I'm personally not bothered by price fluctuations anymore; I used to get extremely worried back in 2017. I've learned to manage it since then, and currently, it's safe to say that I don't care at all, even if the price dips 10%. At 20%, it's a whole different story. I'd be concerned, and usually, there's going to be a reason it has dumped that much; something significant has occurred; it's rarely going to happen by itself. I wouldn't panic and start selling my coins, though.

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Quote from: Viscore on June 29, 2024, 09:04:31 AM

So far, bitcoin price do not fall that much on a daily basis. However, if ever it happens in the future, I wouldn’t lie I will surely be in panic, but not to the extent of thinking recklessly and sell immediately my coins at a loss. That will only make my investments worst.

But to be honest, since bitcoin is highly volatile since birth, this scenario might probably become possible any time of the day, but as long as we don’t get bothered easily and never fall into the trap, and just focus to our end goal, we will still end up successful and profitable with our bitcoin investment. I think that’s the most important thing here.

Maybe it can be said that it goes down every day it could be when bearish times arrive but for now it is impossible every day to go down deeper, it's just that every decline in bitcoin will stagnate at the current price and recover to the initial price again.

Who doesn't panic when a decline occurs? I will also feel the same way that the heart will not be lied to and even anxiety will always be there to see the price of bitcoin continue to fall.

For now we don't need to panic, this is not a bearish season that will continue to go down, this is just a correction and the price will bounce again, what we think about is how to buy more during a situation like this, because we are confident that bitcoin will not fall deeper.

Viscore

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So far, bitcoin price do not fall that much on a daily basis. However, if ever it happens in the future, I wouldn’t lie I will surely be in panic, but not to the extent of thinking recklessly and sell immediately my coins at a loss. That will only make my investments worst.

But to be honest, since bitcoin is highly volatile since birth, this scenario might probably become possible any time of the day, but as long as we don’t get bothered easily and never fall into the trap, and just focus to our end goal, we will still end up successful and profitable with our bitcoin investment. I think that’s the most important thing here.

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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 know how Bitcoin markets works, you will worryless about price fluctuations and I have never seen where Bitcoin price falls by 10-20% without making adjustments the second day, if there is 10% fall today, the next day there is going to be increased by 5%, if there is fall by 20% there is going to be increased by 10% the next day and beside, I don't think there is anything outside right now that can make Bitcoin fall 20% in just a day, except there is a attack coming from US and the chances are low.

If Bitcoin fall by 20% or even more, that should not be a cause for alarm, it should be a signal for buying more because you don't know when such moment will come back again. Let's look at when Bitcoin went from $55k last time to $15k, many people didn't buy but today, they have seen how Bitcoin is trading above that price today, even went higher. This is how we should be taking advantage of any fall of Bitcoin price, there are days of reward.

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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 ?

Honestly I am not affected by this at all. I dollar cost average, so whether it goes up, down, or sideways, I am still gathering coins every single 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 ?

In my case I get worried, I won't say I get panicked, but I admit that I get very worried, because I start to think how far the price will fall, that's why I want to take advantage of the price drops and not just think about the negative side. of the price drops, I started saving money to buy bitcoin whenever the price drops a lot, this way I reduce losses and still manage to obtain more profit if the price rises a lot later, because this is an investment of patience, something like 2 to 3 years of holding if the person wants to make big profits, then I put this in my head that I am buying with the objective of making a profit of at least 2x if the price is above $60,000 when I buy, but if it drops to $30,000 per example so when I buy, it's because I'm looking at 4x profit at least. In the past, something like 2 years ago when the price dropped a lot I would panic and sell and end up with little profit, today I no longer do that, even when it drops a lot I stay calm

Stablexcoin

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More than 10-20% in a day is much and many people will panic. I won't lie it is normal to panic and ask questions about what is going on so that there won't be anything that may be going on that you do not know. When the Luna coin started dropping, some people felt it would go back up because they believed in the technology, not knowing it would be the end. After those experiences, many people are vigilant with their investment so that such a thing won't repeat to them ever again.

However, Bitcoin is different and I don't see anything that happened to Luna coin to occur in the place of Bitcoin. But it is natural to panic and stay vigilant in our investment it is one step to keep our investment safe.

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Quote from: BitGoba on June 29, 2024, 04:45:09 AM

Bitcoin is very young, its market cap is still very small, and daily trading volume is low at only 30-40 billion dollars. Most people don't understand what Bitcoin is, which affects its volatility. Due to this lack of understanding, we experience panic selling, but this is changing over time. Volatility is decreasing and will continue to decrease as time goes on. When it reaches a larger market cap, Bitcoin will likely move in correlation with gold.

Don't forget that in addition to the decentralized nature that makes bitcoin so attractive, its volatility is also an important factor that attracts many people. If we conducted a survey and everyone answered honestly, I believe up to 90% of people are in the market because of the high returns that bitcoin can bring rather than because of its use case. Therefore, bitcoin becoming as stable as gold will not be what many people want. Not only bitcoin, the cryptocurrency market is also famous and attracts people's attention because of its volatility. I bet there aren't many people who wish volatility would go away.

But if you compare bitcoin to gold and expect it to equal or surpass gold, its volatility is not going away anytime soon. Bitcoin's capitalization only reached 1.2 trillion USD while gold has surpassed 15 trillion USD, a huge gap.

https://ingoldwetrust.report/chart-gold-bitcoin-marketcap/?lang=en

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I don't panic when the Bitcoin price falls by 10%-20% because I am sure the price will increase back. Even if that will needs longer than I can expect, I will still waits for that. When Bitcoin price falls, I can buy back more Bitcoin at a low price.

I don't affect by that price drops because I have seen that many times before. I will not stops to keeps buying Bitcoin and saving Bitcoin in my wallets. You must calm down your minds and not thinks to sell your Bitcoin at the dips because that will makes you lose your Bitcoin while you will difficult to buy Bitcoin at a low price.

You can stay away from the market for a while if you see the price falls. That will helps you to control your feelings about the market. Besides that, you can do many things to avoids the thinking of Bitcoin price that still at a low price.

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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 guess not if your funds is safely stored in your wallet then I don't worry about those changes even if the movement is negative. But if you are engaging on futures trading then provably those continues decline would make you worry since its like your afraid that you are heading into being liquidated.

But any other than that nothing change since the only change on those dumps is the value since we still get the same volume and we can accumulate more for future investment purposes. Only those people who don't have good belief on bitcoin will get scared in that situation that's why they need to learn the certain flows or its volatility so that instead of getting panic they can create certain opportunity like to buy in that scenario.

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Bitcoin is very young, its market cap is still very small, and daily trading volume is low at only 30-40 billion dollars. Most people don't understand what Bitcoin is, which affects its volatility. Due to this lack of understanding, we experience panic selling, but this is changing over time. Volatility is decreasing and will continue to decrease as time goes on. When it reaches a larger market cap, Bitcoin will likely move in correlation with gold.

chigo

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That's what I'm waiting for. Because with Bitcoin dropping 10-20%, it means I have the opportunity to buy bitcoin at a cheaper price and I can save more money than I would have spent otherwise.

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Quote from: Plaguedeath on June 28, 2024, 09:05:49 AM

In a day? it's really rare to happen Bitcoin price falls 10%-20% in a day, I would panic, but I wouldn't sell my coins.

As human beings with emotions it's natural to panic when we see our investment crashing up to 20% in price within 24 hours, although I don't think that Bitcoin has experienced such a dip within a day. If Bitcoin were to experience a massive dip in a day I will not panic and sale because I know that it's a volatile asset that pumps and dumps in price according to it's supply and demand. Bitcoin historical pattern has proven that it's price will always reach new ATH on the long term so short term price fluctuations shouldn't be a cause of alarm for investors who hodl for long term.

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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 ?

Does panic allow you to influence (change) this situation, or does panic make it easier to perceive what is happening?

A cool head is the true value for an investor.

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

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

Price drops should not affect an investor emotionally, but such fluctuations must be taken into account when making an investment strategy. That is, monitor the “weather” in the market. If it's raining outside, do you panic too, instead of just taking an umbrella with you?

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

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

Just stop worrying about the price.

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Quote from: fenixosup on June 29, 2024, 01:34:01 AM

People need to learn how to stay calm during that market. Only long term matters and even 10% dip is not enough to change anything in the long term

That 10% will be nothing if you're for the long term and it's a fact that people should be calm at these dips. Well, what happened was that it was a crash and many didn't expect that it's gonna be as bloody as this one. Whether it falls to 10%, if you've bought long time ago and you're looking forward to that day of seeing it to $100k. You'll just forget about this day and will wait until you recover or you'll become more than 100% in profit on that day. Several tips have already been said and it's best to avoid the market and do something meaningful to yourself aside from checking Bitcoin's price daily.

Topic: Do you also panic when bitcoin price falls more than 10-20% in a day ? - page 8. (Read 2004 times)