Topic: Hiccups that can occur during Bitcoin investments. (Read 399 times)

This, someone that understands clearly what bitcoin is about and has realistic goals about what they can achieve will never fear the short term drops on the price of bitcoin, and instead they will use them as an opportunity to accumulate even more coins, only those that came with a superficial knowledge or had exuberant expectations about the market will suffer setbacks from the volatility of the market, but that is entirely on them and bitcoin has really nothing to do with it.

Investors that have been in the network for a longer time and who understand BTC very well see every dip in price as a chance to buy BTC, it is the newbies and weaker hands that are more concerned about dips in price and they are quick to sell their coins in reaction to any minor fud. However, we must understand that not everyone can see BTC the way we do, that's why most people would worry when they see their asset losing value.

Definitely something that has caused major setback for investors and also aspiring investors too, infact procrastination itself is a devil that has effect on so many area of one's life not only in the aspect of investment in Bitcoin. Sometimes we do these things without even knowing the effect it cause, that same old lie that you would keep telling yourself that you would do over and over again is just something that one should tackle if he does want to grow or even start at all with Bitcoin as investment asset.

The most important thing in investing in Bitcoin, in my opinion, is not to sell the asset (thereby fixing the loss).

A cryptocurrency trader who is used to buying and selling alternative cryptocurrencies knows that almost all alternative cryptocurrencies lose their value over time.

However, Bitcoin is a deflationary asset, a recognized international protocol for transferring value in virtual space. It tends to appreciate over time.

Therefore, in relation to Bitcoin, there is no need to be afraid of its price falling. When the price of Bitcoin falls, you can safely buy this asset at a lower price and expect that sooner or later this investment will bring you profit.

Falling for fud is one. Studying why it's valuable in the first place is a good start. Otherwise any made up fud can change your opinion about it, and you are easily convinced that it could fall.

That's what was my mistake at the beginning anyway. If i would have listened Andreas Antonopoulos before investing, i would have so much stronger hands. That's the one who calmed me down later, but everyone should watch his videos.

Investing may only be done with a cool head intact and a good mood overall. Otherwise, it may end up badly, with greed and temptation taking over.
Thus, trading sessions may only be done when you are ready for them and for the profit at hand.

I think one major hiccup that might eventually be a challenge to newbie investors is too much anxiety. Everyone already knows that bitcoin price fluctuates, with the price fluctuations, investors who know what they are doing will remain relaxed, waiting for the right time to buy or sell.

But when the investor becomes restless and too anxious, it is bad for investment because he might be making lots of wrong decisions which may affect his profitability.

We can solve all problems about investment if we understand the risks that will be faced and how to solve them. All of that will feel easier to overcome or not to happen by continuing to learn a lot. Those who tend to learn a lot and are experienced will easily face problems. I think it all depends on what they have in each person. So not everyone can have diverse problems and the solutions are also varied.

I don't see any recurring obstacles that can hinder a Bitcoin investment plan other than price volatility. The mistakes that occur when the price drops are unjustified fear and selling at a loss. This is the biggest mistake that a Bitcoin investor makes in the long run.

The other mistake is less than the first but it is also a result of price volatility, which is greed. When Bitcoin rises a little, some people rush and sell immediately. Although they have made some gains, it is better to wait until they get the highest and best prices.
So in general, it can be said that it is fear and greed.

It's all about patience. Do you think a person can buy Bitcoin and forget about it if they aren't patient by nature? It's naturally not possible for them to not look at the market or their portfolio to find out how their investment is doing because there will be a general instinct that will pinch you every time to just have a look at their wallet, the urge won't let you stay away from it for even a few days, leaving it for years without looking is unimaginable.

If someone is patient, they have a nature that doesn't make them too eager or initiate an urge to keep looking at the market and then at the wallet, such a person can keep holding for a longer period depending on how much they understand the market as well. Lack of knowledge often makes people sell at dips because they feel it's the end, now their money will be gone if they don't sell.

procrastination is one of the hindering tools that has hinders many people currently and i can used a friend of mine to give an example.. forward back then when bitcoin was around 20k dolls and he called me when is the best time to invest in bitcoin and i told him now (then) is the right time and he said, "can we watch to see if the price could go dipper before investing" and i said is your choice provided that you haven't made your mind to invest in bitcoin you can start when you feels the price is okay for you, that was how he delayed to till date and never invested. Last week he saw me and started regretting why he didn't adhered to my instruction of telling him to invest at that time, now he has no face to keep asking me when to invest again because he knew the price is not that favorable for him again, so he chatted me and said after bull run he would wait for the next bear run, i didn't respond to him.

By hiccups, I want to believe you mean "mistakes", well for me, I honestly do not see any bitcoin investment mistakes that could or has the capacity to hinder a successful bitcoin investment aside from having no other reliable source of income before investing money in bitcoin, it's like whats often said about marriage, that if you rush into it, you definitely will rush out after some time.

The only hiccup I personally think has the full capacity to hinder a successful bitcoin investment is not having another reliable source of income, if one invests in bitcoin when he or she doesn't have other means of making money, such one is likely to sell off the bitcoin investment at their slightest financial challenge, whether the investment yielded any profit or not.

Are you talking about trading, because if you meant just buying and holding BTC, too much strategy does not go into it, you simply buy BTC and hold it, how you buy it is actually another thing though and you can simply buy with the dca strategy. The trouble you'll encounter when holding BTC is how to effectively secure your coins, there's this panic when you just buy BTC, you are not sure if you are doing everything right, but if you do enough research, you'll learn how to store your coins safely.

Definitely there are many hiccups as already mentioned by different users. These hiccups are applicable to happen mostly during the long run and becomes a threat to the investor. Another one on the list should be the fail of creating a budget. I believe any investor who decides to invest in Bitcoin and not be held down by certain obstacles, should adhere raising a target to what they would like to accomplish, this will set their motivations high just by the time those hiccups happens, it will enable them stay strong footed  and not fall off during their accumulation.

IMO in this case all have experiences that seem to be almost the same when it is new to bitcoin and it will not be much different from the level of emotion and lack of understanding that makes the investment we want to do a little hampered because of some problems.

But when we want to be an investor and can be considered successful even though maybe it is our own version of success then indeed everything will not be much different in terms of understanding, plans and goals that we want to achieve in an investment made.

Many people fail because they do not have a good understanding because they are not too willing to learn from the start what we want to invest in and do not want to know what the investment risks are because the benchmark is only to the benefits that will be obtained but are not aware of the risks they have. In addition, sometimes with a lack of understanding, it is certain that our plans also become uncontrolled which makes a lot of people, especially new people, who are wrong in their goals and planning who eventually give up halfway.
It's almost the same when people end up giving up halfway through.  I think, everything has to be balanced because when we want to achieve success in something (in this case investment) then it is important for the person to know what he/she is doing, know the economic situation he/she has and continue to learn so that in the end they do not get lost even though the path is correct.

The biggest obstacle is not having full confidence in what he is investing in. Because so far those who have succeeded have the belief that bitcoin will provide benefits in the future. Imagine there is no higher level after believing. Any obstacle when it is determined to invest in bitcoin everything becomes easier, makes sense and ignores everything that gets in the way. Only those who believe in bitcoin will always be one step ahead when investing. And those who doubt are always stagnant just walking in place.

I would say it must be faith. If you lose faith in bitcoin when the price dumps then you will sell your coins at the wrong time.
This is a common phenomena and occurs in every cycle but the people who don't lose faith tend to HODL and gain their profits back.

In loss journey, if we are not experienced and disciplined to cut loss and exit the market to avoid bigger loss, we will have to hold our positions and wait for recoveries. The second pain comes when market recovers, we will try to trade and lose our bitcoin even we don't have a draw back. If we can hold long enough to see profit, then it's chance for another mistake, take profit too early.

It's more easier to hold for 70% or 80% loss but it's harder with many people to hold for 70% or 80% profit because it's uncertain to know where Bitcoin will move up to, and how high price can move to.

Yeah, it's easier to hold when our investment are on floating loss because we know the asset we invest and we understand how it works. But, when it comes to selling, we hesitant to do it because we're always think tomorrow the price will increase. We might not have a problem to sell it when we're in hurry, it's different with someone who want to maximize the profit that looking to buy at the bottom and sell at the top.

Bitcoin holders and pretty damn strong when it comes to dealing with the volatility. Ultimately I think the hardest thing a Bitcoin holder will ever do is to sell their Bitcoin!