Topic: Hiccups that can occur during Bitcoin investments. - page 2. (Read 508 times)

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!

I suppose initial hiccups might be due to a lack of understanding of how Bitcoin works and is stored. So one might make a mistake in transfer and lose the coins, lock oneself out of a wallet forever by forgetting to write down the passphrase and forgetting the password. Or buy at a high point and panic sell when Bitcoin goes 20% or more down from that. Alternatively, one might store BTC on a centralized exchange and fall victim to a scam or be unpleasantly surprised with needing to go through KYC.
I think these are the biggest risks, even though they don't have much to do with the investment strategy itself.

Most of the hiccups I see on this post are lacking of controlling emotion, been greedy and others but I place all of these on investing more than you can afford to lose and this to me is what brings about the reason for selling even at a loss during emergency situations or periods. Although some emergencies sometimes comes in huge that even saved emergency funds cannot take of them. But most at times when you invest what you can afford to lose you can have emergency funds aside and That will go a long way.

With an amount you can afford to lose you can simply Limit this hiccups like been confident even in during dips because the funds aren’t setting you in panic mode, not been greedy to go out early because it is not a borrowed funds and its likes

I wouldn't call it a hiccup but if you are all in, and at one point you need some money because of emergency, then you will have to withdraw it. Or if you are buying and accumulating for so long, again something big come up, and you have no choice but to get some out of your stash.

The beauty though is that you can start all over again, and since you have already experience doing it, then it will be just a piece of cake already. Mentally you have passed the big test, just doing DCA months after months, or years grinding hard in order to save x amount of BTC.

Being greedy is the most difficult part when investing into bitcoin. Buying bitcoin and not setting a target to sell it will result in losing your money. I've been a crypto investor since 2018 and experienced 2 bull runs, I missed taking profit during their peak because I keep listening to the unrealistic speculations by influencers on social media. I keep hodling thinking that this X target could be achieve on that bull run until it goes into correction and enter into bearish phase.

This upcoming bull market, I already have a plan when to take profit regardless if it still goes up. Hopefully, I can follow it and experience some success being into crypto for many years.

I think if we want to replicate a strategy by other people and they have been successful with that strategy, market timing is one of the most significant challenges. The volatility in Bitcoin can make it tough to say when its price may go up or come down, although Q4 has always historically yielded positive returns. Same for this year, in Q4 Bitcoin is expected to break through resistance levels, but missing the right entry point during consolidation phases may hurt your returns.

The other problem is sticking to one strategy and not trying to take a look at what is going on in the current market. The crypto market keeps on changing due to institutional activity and greater macroeconomic factors, like recent interest rate cuts. These would increase sentiment, but sudden liquidity shifts or derivatives activity may create unforeseen risks. One needs to be adaptable and keep updated with information so as to try and achieve success.

Most Importantly I think most Bitcoin investors have lost their Bitcoin because of security bridge and some persons too purposely gave off their asset to scammers because they didn't know it was scam. Even up till date, so many people are still falling victim to scam and are losing their money to scammers. So, for one to have a successful Bitcoin investment, I suggest they should learn about the security of their assets.

I always say start with one month, it should be the starting point for anyone. If you could save just one month of salary this would allow you to have such a big freedom. If you ever end up being unemployed, one month isn't enough, but you start to learn you could technically survive with half of your salary too, because you do not do anything and just stay at home, go to interviews and start eating cheap food, so what would cost you anything.

Secondly, this is a start, you end up trying to do 3-6 months like you said gradually, both thanks to help of you saving more and investing those too, and also price going up as well. When you reach 6 months, I suggest stop investing this way and start investing like an investor, because until that moment you invest like you are saving, after you reach six months you should start investing like an investor, meaning care about TA when you are investing so you can get the most benefit out of your investment.

The emotion if that time comes to them is going to be mixed. The feelings are going to be mixed and that's hard to bear because they cannot think right when that time comes.

All of the negativities will be there and thoughts will come to them as if there is no solution to that. And there will be no time for it to recover.

That is the reason why many of the long term holders doesn't feel any emotion anymore when the market dumps quickly because we all knew that it's going to recover.

I would say don’t think about any obstacles or hiccups when you have already thought of investing in Bitcoins. Bitcoins are meant to be invested for the long term. So there will be many short-term distractions in between. We need to ignore that and keep the investment on. We have seen Bitcoins rise from 500$ to 72,000$. Hence, it’s always ideal to invest for a longer period of time. Just put money in the coin and don’t follow the market for a few years; I am sure you will make thrice the money that you have invested after the completion of the third year.

You should first have the believe in bitcoin as an investment worth throwing some value on. Use only your extra cash to buy bitcoin so that you can do without it and buy constantly to build and grow your stash.

Set up an emergency funds of 3-6 months of your monthly salary, so that if real emergency occurs like losing your job, health challenge as so on arises, you will be able to solve them without deeping hands into your bitcoin investment.

Don't get carried away with little profit on your bitcoin investment but focus on reaching your bitcoin target with patience. Don't think Bitcoin investment is a get rich rick scheme.

I would agree because, for newbies especially, it's hard not to see at least some green for a long time, they think that there will be no tomorrow and their investment is failing them (even if everybody else is holding alongside them and they just do have more skin put into the BTC, thus not worrying about it).

The excitement will be a failure at the first volatility that an inexperienced investor sees. We see these panic sales, and we see the accusation that the price has fallen and people are forced to sell to save the funds that are left. And until a person sees his mistakes after recovery and further growth, he will not be able to truly test everything on his own experience. No matter how much is written that investing should involve strong hands and faith, you can also often see accusations from those who are impatient or too hasty.

The "hiccups" are going to be mostly you acting on your emotions — panic selling due to fud, going all in, or buying on leverage because of greed, those stuff.

There should be little to no "hiccups" if you're just dollar-cost averaging and buying spot.