help me not to leave btc - page 3. | Bitcointalksearch.org

AmoreJaz

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Quote from: _BlackStar on December 07, 2023, 05:42:10 PM

Quote from: puradak on December 06, 2023, 05:57:36 AM

What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Simply put, you have to understand what risks you will get from investing - especially in the asset of your choice. This risk tolerance is certainly important to maintain your psychology in the future when prices do not match what you expect - but of course Bitcoin is the best choice in the long term.

If I were you - only one choice: Buy now and hold.
You can accumulate this way - but you also need an understanding that continues to develop over time. Then from that - there are times when you have to be yourself and not let other people influence your investment decisions.

i have the feeling why the OP has the feeling of being agitated because he is seeing other alts to be in skyrocketing stage and he is feeling of being left out. however, it is only temporary. as more then likely, it will also go down as it has no solid reasoning behind such trend.
on the other hand, btc has the upper hand among these markets. because it won't go away as it sustains its top position.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Simply put, you have to understand what risks you will get from investing - especially in the asset of your choice. This risk tolerance is certainly important to maintain your psychology in the future when prices do not match what you expect - but of course Bitcoin is the best choice in the long term.

If I were you - only one choice: Buy now and hold.
You can accumulate this way - but you also need an understanding that continues to develop over time. Then from that - there are times when you have to be yourself and not let other people influence your investment decisions.

GiftedMAN

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Op I think you have got a better motivation since you witnessed the current increase in the price of Bitcoin that alone should give you more reason to keep investing in Bitcoin only, unless you are in for a quick money making that's the only reason I thinkost people invest in altcoins.

You have been giving the best advice here which is to HODL strong till the price rise higher and higher so get your mind off altcoins so you won't lose your funds trying to double it fast rather continue with your DCA.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

The simplest and most effective strategy you can implement as a non-expert is HODL. That is it, nothing more nothing less.

And soon the Bitcoin ETF's in the USA will be offered to traditional investors by institutional investors. This is a very big deal and anybody who sells their Bitcoin now will only have themselves to blame once the price goes up.

And I believe it will go up. Very high up. So obviously I do not think that now is a good time to sell Bitcoin.

But, decide for yourself.

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Just think of how other people's lives were changed because of bitcoin, that way you will continue to understand bitcoin and the crypto market and you will be patient more to wait for the perfect timing to buy and sell bitcoin. Of course, the motivation should also start within yourself and convince yourself that there is brighter future awaits for you with bitcoin.

However, leaving btc will only be a good choice if you think you are not ready to lose your funds. And just invest again when you have stable funds so that losses will never be an issue to you anymore.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

You need to keep holding because many of the coins you have mentioned are meme coins and cam pose some risk to you if you don't understand how they work. Bitcoin is more safer for you to hold than many of the coins you mentioned. Forget about what's happening and how their prices is going up attracting you to think of investing in meme coins rather than Bitcoin. Bitcoin has started moving gradually and you need to keep holding until you are satisfied with the profits you had made so far before you decide to take profits andbkeeo holding some portions.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Stop using your emotion because it can ruin your plan. Don't let FOMO get into you, majority of the people who get FOMOed doesn't end well. If you know that you have a good plan, try checking it back and have a confidence on the plan that you yourself had built. Focus, everything is just a distractions. I myself had been caught on bad situations many times because I failed to execute my plans because of damn emotions, being fomoed by pumps and hype, I ended up losing money and possible profits if I execute my plan well.

Remember mindset you have when the first time that you want to buy bitcoin.

Agbamoni

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This is something that depends on your financial strentght. As your plan to DCA is critical one. If you had known the time and attention you gave to those Altcoins would have been given to Bitcoin. However, it is still possible to accumulate Bitcoin since you still have the zeal and witness. DCA us a good step but you need to understand it will take you some time to accumulate some good amount of Bitcoin in your portfolio. But it seems you lack patience and want to bag it now before the next bull run of which you feel is close then you should lump sum. That is the only way you can get handful of Bitcoin now.

My candid advice is to not hesitate if you have the money then lump sum and expect the best. But if you are low in income then patiently dca as the next bull run is not the last bull run we will experience in the history of Bitcoin. And also, it is not certain that next year will be the next bull run. Its all speculation.

pawel7777

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

All you need to do is remove emotions from making investment decissions. There are always some altcoins that shoot up on a daily basis. The problem is there are thousands of coins/tokens and new are created/die every day. It's simply impossible to predict which coin will skyrocket next, so don't bother with them.
Historically speaking, betting on BTC only was a best bet. There are tons of coins that were massively hyped up in the past that are dead now, or lost almost all their value.

This thread touches on this subject: https://bitcointalksearch.org/topic/is-hodling-top-10-marketcap-coins-a-good-tactic-5418571

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It's understandable to feel the FOMO but it's crucial to stick to your investment principles. Just focus on the long-term potential of Bitcoin and maintain a mindset of patience. Regarding DCA, consider spreading your purchases over time to reduce the impact of market volatility. Just the usual setting a budget for regular contributions and stick to it, regardless of short-term price movements. We stay informed about market trends and avoid making impulsive decisions based on hype. This forum would really help you but i think asking directly what to do is unnecessary. It really depends.

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Quote from: Eternad on December 06, 2023, 06:16:53 AM

Quote from: puradak on December 06, 2023, 05:57:36 AM

What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Stop browsing altcoin price and just focus on checking Bitcoin. Having a mindset of investing only on Bitcoin is very hard to pull off if you are regularly checking altcoin price too which typically have more gains than Bitcoin on bull season.

Just like being loyal to your partner or wife. Don’t look to other girl if you want to stay focus your main girl. Same with Bitcoin, stop looking on altcoins.

Agree with this Bitcoin is the superior of all coins so nothing follows and if we say altcoins monster of them are scams so you need to be careful in order to prevent you from the scammers we are highly recomend bitcoins for the investment rather than choosing those unknown altcoins. And another thing 100% proven than Bitcoin can give us a good profits in the long term anyways the last decision is In ourselves and we need to choose wisely.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Just HODL the Bitcoin you have already, thats the mindset you need to have Bitcoin will still go up so keep Hodling and if you can, add up your positions in bits and take profit after the bull run.

Rockstarguy

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Bitcoin is the best you can ever think of, if you can afford to invest why not than thinking twice but despite bitcoin price is going up what you also need to understand that bitcoin market is volatile and you have to have mindset that bitcoin doesn't make people to become rich. You don't have to get millions to start investing in Bitcoin , you can invest by what you can afford maybe by also accumulating some amount of Bitcoin. Bitcoin is more valuable than any coin you can think about it, for you to make good profit from Bitcoin investment you need to have other source of income which you depend on , depending on you bitcoin can run you investment down.

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Quote from: fauzan Ichsan on December 07, 2023, 12:41:34 AM

The most important thing is how we manage our money well, increasing the risk a little, but also increasing the rewards from investing in altcoins. but indeed by diversifying assets properly we will have the opportunity to get bigger profits, if the development of altcoins is not satisfactory, it will be covered by bitcoin, which is the safest asset to invest in, as long as it is not reversed, where the altcoin investment is greater than the bitcoin investment, then this will only add to the confusion in investing

Managing finances is indeed a very important thing for every person who has a steady income to do, but it will be very difficult if we don't have a steady income to be able to manage the finances we have well. If we choose to invest in altcoins of course we have to be able to do it properly. Choose the type of altcoin that has the potential to make a profit. Don't make the mistake of choosing the type of altcoin that will cause us to experience losses by buying altcoins which could be from the exchange.
I agree with you, if we have to invest more in Bitcoin and we have to be able to hold to be able to make a profit and with altcoins we can trade to be able to get daily profits.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

Honestly, it's not too late for you to start saving Bitcoin through DCA. As long as you have the chance, just save. That is better than having nothing to save when the halving and bull run come.

Then you are not wrong in thinking about Bitcoin and thinking that it will really increase next year. Just don't give up on your belief in Bitcoin if your only goal is to get or experience profit from it. And don't try another crypto first if you don't know how to choose the right one when the bull run comes.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

I would say that you should have a positive mindset about Bitcoin because it's a safe investment and your returns can be a sure thing while investing in other altcoins is quite risky as they can lose a lot of their value in short amount of time. The market is totally dependent on Bitcoin's price if Bitcoin rises other coins will also rise but if Bitcoin doesn't rise then others will follow it again in that case.

Bitcoin is getting a lot of attention from the investors and that's why it's a solid asset for investors and people like you and me. I would suggest you to stop thinking about other altcoins and go with Bitcoin only but still if you want to have some investment in altcoins then make sure to have less then 10% investment in those altcoins and 90% or more in Bitcoin.

I recommend you to have a simple DCA plan where you should allocate an amount of money that you would use on weekly basis to invest in Bitcoin by following that DCA plan. For example if you have $10k then you should invest at least $250 per week by following that DCA strategy as that will allow you to accumulate a lot of Bitcoin over next 10 months and you'll have good returns in 2 years when Bitcoin reaches it's all time high once again in 2025.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

At first bitcoin is a very good project in cryptocurrency network and I believe that bitcoin every one wants to invest with bitcoin due to it increase and it's volatility is higher than any other coins, do you know that their is no time you invest in bitcoin that is not a perfect time to invest with bitcoin, and secondly bitcoin is one kind technology that you will invest and you it will be difficult for you lose the way you can lose in Shiba and other coins, but accumulating your bitcoin is something you have to do when the price of bitcoin falls but right now it seems that the price of bitcoin is increasing every day, so this is another opportunity someone who have money can invest more in bitcoins because the price might climb to 60k before January 2024

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Quote from: Silberman on December 06, 2023, 11:25:48 PM

Quote from: puradak on December 06, 2023, 05:57:36 AM

I'm a 19-year-old boy living in South Korea and now btt, doge, shiba inu, etc.. have skyrocketed in just a few hours on our country exchange 'upbit'. A little fomo is coming. I can't believe it's gone up more than a months I've invested in bitcoin. I personally don't want to invest in other coins, as I think bitcoin is superior.
What kind of mindset should I have to stay in Bitcoin? And I think Bitcoin is about to hit the highest price ever, so how should I plan my dca strategy?

If your main interest you have in bitcoin is because of the economic gains that you may get, then it is reasonable that you also have some passing interest in altcoins which can grow in value even faster than bitcoin, to me it seems way better that you do not restrict yourself from investing in those coins as that is what you seem to truly want deep down, what you can do is to invest a small percentage of your capital on those coins so you can limit the negative impact those coins may have if you are just becoming a victim of FOMO, but other than that I do not think there is anything wrong with investing a small part of our capital in altcoins, as long as those coins are any good.

Yes, there is nothing wrong with investing in altcoins as long as only a small amount of money is used to buy altcoins, and after investing in altcoins, even just a little, of course the feeling of fomo will be relieved a little and I personally also don't limit myself from investing in altcoins, but of course before jumping in to buy Altcoin conducts research first so that we know the potential of the altcoin, whether it has a good future or not. I agree with OP's words and it is indeed the best and safest thing to invest in Bitcoin, because investing in altcoins is of course very risky. but in this case of course the decision is in the hands of the op and I think if the op's knowledge about altcoins is still not much and knowledge about predictions and analyzing fundamentally and technically I think it would be better to just use bitcoin. So in this case of course it depends on our knowledge.

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Quote from: puradak on December 06, 2023, 05:57:36 AM

What kind of mindset should I have to stay in Bitcoin?

You must have a mindset like:

Bitcoin OG: You should be as early as possible in owning bitcoin to experience its benefits; or
Technical Expert: You need high computing specs to corrupt bitcoin.

yazher

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Right now is really hard because I'm sure you have some friends who are talking about their investment in altcoins and they are encouraging others to invest as well. This is not a good reason to migrate your investment or buy some altcoins because this is their fate and you create your fate as well by making your own personal decision no matter what happens. When you already have a strong desire to keep your investment in bitcoins, this sudden event won't really matter to you because you have a strong resolve that you gonna wait for the bull run in the future.

Topic: help me not to leave btc - page 3. (Read 900 times)