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Topic: Keep your emotions balanced especially regarding Bitcoin (Read 366 times)

full member
Activity: 1708
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www.positivebetting.com
The price is not so much of a concern to me as I stopped being bothered by it sometime ago. I focus my energy and emotions on some other profitable stuff going on in the crypto world.
I saw that there has been a pump in price. This is good but I am still indifferent to it. Because once you do, you become a pawn in their invisible game.

Money comes and money goes. Gotta just stick with building.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
One of the key ways to balance emotions when it comes to Bitcoin or any other investment is to have a clear investment strategy in place. This means setting clear goals and objectives for your investment, and having a plan to achieve those goals. For example, if your goal is to hold Bitcoin for the long-term, then you should be prepared for short-term fluctuations in price and not let them affect your investment decisions. Another important aspect to consider is diversification.

Diversifying your investments across different asset classes, such as stocks, bonds, and real estate, can help mitigate the risk of any one investment performing poorly. This can also help balance emotions, as you will not be as affected by the fluctuations in any one investment.
Emotions are essential when it comes to investing because it can be our strength for us to have a successful investment plan or it can be our downfall if we don't give a care to it. When emotions are controlled and managed, it allows us to make a good financial decision.
Being able to control our emotions can help us to build a plan to achieve our financial goals. This will build a strong foundation for us to reach our goals and make us more confident in ourselves. I also want to agree when it comes to diversification because it is one of the risk managements that works very well with me and help me to play a long game in this kind of financial market. I usually divide my portfolio in 4th parts:
1st - real estate
2nd - crypto market
3rd - stock market (local and international)
4th - in my drop shippings services.

As long as we can still manage our emotions well, we can think calmly and overcome all problems that may arise in our business. But it's not easy because managing these emotions takes time and continuous training so that we can control them properly. And that's also what we have to do if we want to invest in bitcoin and maybe spreading the type of investment can provide us more profit.

Your portfolio in 4 sections can be profitable, but you must be careful with the stock market because it will move fast like the crypto market. For real estate, it takes a lot of money to get started and so does your drop shipping service.
hero member
Activity: 2744
Merit: 588
I guess there is no problem if you are happy when Bitcoin rises a little bit. It's actually normal to have emotions based on the circumstances and events of daily life. It would be strange to not have any reactions at all. And to throw a party when Bitcoin is doing well doesn't mean the investor is going to get rid of all his coins if BTC drops a little. Of course he will be upset, but it doesn't change his long term goals and expectations regards Bitcoin. I understand OP's concern, and I understand that could be a helpful mindset for people who are too impulsive, but I believe we have to celebrate when good things, like a Bitcoin pump, happen.

Maybe, you can celebrate but not to the point of throwing a party.
A cup of coffee enjoying the morning view or a good dinner with your family is more than enough to acknowledge that you did something right.
But if you happen to lose a lil bit, don't get too hard on yourself. Look on the brighter side, at some point, you can also recover your losses, especially if you don't sell off.
But we can't deny the fact that most of btc holders already experienced so many ups and downs throughout the years, and it was the experience that mold them how to react with an open mind.
sr. member
Activity: 1036
Merit: 281
One of the key ways to balance emotions when it comes to Bitcoin or any other investment is to have a clear investment strategy in place. This means setting clear goals and objectives for your investment, and having a plan to achieve those goals. For example, if your goal is to hold Bitcoin for the long-term, then you should be prepared for short-term fluctuations in price and not let them affect your investment decisions. Another important aspect to consider is diversification.

Diversifying your investments across different asset classes, such as stocks, bonds, and real estate, can help mitigate the risk of any one investment performing poorly. This can also help balance emotions, as you will not be as affected by the fluctuations in any one investment.
Emotions are essential when it comes to investing because it can be our strength for us to have a successful investment plan or it can be our downfall if we don't give a care to it. When emotions are controlled and managed, it allows us to make a good financial decision.
Being able to control our emotions can help us to build a plan to achieve our financial goals. This will build a strong foundation for us to reach our goals and make us more confident in ourselves. I also want to agree when it comes to diversification because it is one of the risk managements that works very well with me and help me to play a long game in this kind of financial market. I usually divide my portfolio in 4th parts:
1st - real estate
2nd - crypto market
3rd - stock market (local and international)
4th - in my drop shippings services.
sr. member
Activity: 2296
Merit: 348
One of the key ways to balance emotions when it comes to Bitcoin or any other investment is to have a clear investment strategy in place. This means setting clear goals and objectives for your investment, and having a plan to achieve those goals. For example, if your goal is to hold Bitcoin for the long-term, then you should be prepared for short-term fluctuations in price and not let them affect your investment decisions. Another important aspect to consider is diversification.

Diversifying your investments across different asset classes, such as stocks, bonds, and real estate, can help mitigate the risk of any one investment performing poorly. This can also help balance emotions, as you will not be as affected by the fluctuations in any one investment.
hero member
Activity: 2044
Merit: 784
Leading Crypto Sports Betting & Casino Platform
I guess there is no problem if you are happy when Bitcoin rises a little bit. It's actually normal to have emotions based on the circumstances and events of daily life. It would be strange to not have any reactions at all. And to throw a party when Bitcoin is doing well doesn't mean the investor is going to get rid of all his coins if BTC drops a little. Of course he will be upset, but it doesn't change his long term goals and expectations regards Bitcoin. I understand OP's concern, and I understand that could be a helpful mindset for people who are too impulsive, but I believe we have to celebrate when good things, like a Bitcoin pump, happen.
legendary
Activity: 3122
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
That is why emotional management is one of the keys that we must have if we want to invest in cryptocurrency. This is exactly very important moreover for newbies who are still very new in this crypto world.
With the plenty mess happening around and with how it is now more likely to meet people daily who can have an influence on our state of mind, maintaining and keeping a balanced emotion is now more of a task than before. To keep your emotions balanced, you have to be in control of activities around you and for the activities beyond for your control, you have to accept the fact that you cannot control those activities so it should be allowed to affect your emotions to the extent that it forces you to make bad investment decisions concerning your cryptocurrency. Also, if you are know that you have lost control and balance in your emotions, avoid making any investment decisions.

i guess this kind of emotional management is not only true with crypto investments but all the other investments that we need to make in our lifetime. you should not follow your emotions when you are in rush as more then likely you are not thinking logically. you may have been influenced by sudden movement in the market and you feel you are getting left out. think why such movement happens. can it sustain long-term? what i am saying is, be more objective with your decisions. at least think why such situation is happening and do you think you can gain from such situation?
full member
Activity: 952
Merit: 232
That is why emotional management is one of the keys that we must have if we want to invest in cryptocurrency. This is exactly very important moreover for newbies who are still very new in this crypto world.
With the plenty mess happening around and with how it is now more likely to meet people daily who can have an influence on our state of mind, maintaining and keeping a balanced emotion is now more of a task than before. To keep your emotions balanced, you have to be in control of activities around you and for the activities beyond for your control, you have to accept the fact that you cannot control those activities so it should be allowed to affect your emotions to the extent that it forces you to make bad investment decisions concerning your cryptocurrency. Also, if you are know that you have lost control and balance in your emotions, avoid making any investment decisions.
full member
Activity: 1582
Merit: 132
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Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.
If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.
.....
Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.
Indeed, not all people are aware of this emotion management. Many will be out of mind to be very happy when the price of Bitcoin is increasing more than 3%. But they will be more stressed again when the market goes down even only -1%. Their imbalance of emotion management will probably drive them to be easily not controlled. This will deliver their emotion to be up and down easily, making them frustrated condition, sad and happy again. And what's worse is that they may panic when the market is going down and then selling of Bitcoin even under the rate because they are too afraid that the price will keep decreasing.


That is why emotional management is one of the keys that we must have if we want to invest in cryptocurrency. This is exactly very important moreover for newbies who are still very new in this crypto world.
sr. member
Activity: 1022
Merit: 368
The price is not so much of a concern to me as I stopped being bothered by it sometime ago. I focus my energy and emotions on some other profitable stuff going on in the crypto world.
I saw that there has been a pump in price. This is good but I am still indifferent to it. Because once you do, you become a pawn in their invisible game.
sr. member
Activity: 574
Merit: 252
When you understand Technical analysis, Fundamental analysis, On-chain analysis and risk management, you don't really need worry about your emotions
hero member
Activity: 1680
Merit: 845
Giving sh*t about a 3% Bitcoin price movement is something only the noobs do.
After dealing with the Bitcoin volatility for several years, you just develop a different mindset. It sucks to see the BTC price dropping severely, but this is the nature of volatile assets. They just go up and down. When the price is down, that doesn't mean that it will stay there forever.
The same thing applies to the price being at a high level. I don't think that Bitcoin would be able stay at a 60K USD level for months and years.
I have faith in the concept of Bitcoin and the Bitcoin Core blockchain. I just don't think that 99% of the altcoins/tokens will exist after 3 years.
A 3% increase is a petty increase after seeing what Bitcoin is capable of. It does feel good to suddenly see your BTC being worth more, but certainly not to freak out. I've accepted that cryptocurrencies are volatile, but this is actually their beauty. The crash of Bitcoin is now seen as an opportunity rather than a failure.

Personally, I've accumulated so much more Bitcoin during the bear market that I've stopped bothering about the market's condition. I used to get extremely frustrated with myself that it was getting the best of me, but I feel a lot better now after fully trusting my money on Bitcoin.
hero member
Activity: 1624
Merit: 791
Bitcoin To The Moon 📈📈📈
In crypto, there is no space available for emotion. Crypto, teach me the meaning of patience. I was too panicked and emotional when I first started using cryptocurrency. But as I mature, I keep my emotions separate from crypto. Now it doesn't matter what the price is. I held out until I made a profit. I'm not in a hurry to make money these days. If I notice an uncertain pump, I sell it immediately, but I buy it back when the dump begins. Because I've noticed for a long time that Bitcoin drops after every uncertain pump.
At the first start we did feel panic and emotional because there was no hope at that time but after walking for a long time we have understood how we have been in crypto for many years in this space of course everything becomes a meaningful experience and changes the pattern for the better.

Balance is always needed because it involves our emotions, so far the price of bitcoin has risen 23% for one week I am still holding on this is not a profit to take because I am not going to rush it even takes patience to enjoy bigger returns so enough to last until the next few years.

I'm sure from this increase there must be someone who has sold it and even feasted on the results, but that's not a good way for me even I will continue to buy bitcoin even if the price is above $ 21k.
hero member
Activity: 2912
Merit: 556
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
This price continues to rise due to the ups and downs of bitcoin there is nothing to be disappointed about, you can't invest if you can't control your emotions. That's why you need to keep a balance of emotions regarding bitcoin going forward. It is better to invest long term and hold bitcoin without checking its price major business organizations in the world are considering cryptocurrency as one of the most important assets. Crypto market is bullish for bitcoin.
Even though the crypto market is bullish for bitcoin, those who haven't had time to invest in bitcoin can still take the opportunity to buy bitcoin right now or wait for the price to correct. But it's true that they don't need to get emotional seeing the price starting to climb because maybe yesterday they didn't consider this to be the case. It's a valuable lesson in investing in bitcoin: when the price is down, it's a good time to start buying bitcoins and holding them for a while.
legendary
Activity: 2506
Merit: 1394
(.....)
If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.
This act is common for OGs or those people who are already in the market for a long time, people who experienced multiple ups and downs in the Bitcoin market.
But there are some people, especially new people coming and first time to experience such volatile, they are intended just like this and we can't blame this because I can say, I experienced it before too.
member
Activity: 165
Merit: 21
This price continues to rise due to the ups and downs of bitcoin there is nothing to be disappointed about, you can't invest if you can't control your emotions. That's why you need to keep a balance of emotions regarding bitcoin going forward. It is better to invest long term and hold bitcoin without checking its price major business organizations in the world are considering cryptocurrency as one of the most important assets. Crypto market is bullish for bitcoin.
legendary
Activity: 2338
Merit: 1775
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How do you guys emotionally balance Bitcoin?

At some point you simply just get tired of refreshing your portfolio that you just ignore most price movements. Though I'll admit that in extra-volatile times, I still refresh CoinGecko a lot — but I don't make impulsive buy/sell decisions.

All experienced holders know that 1 BTC = 1 BTC. 

The price of a bitcoin, expressed in fiat currency, does not matter much.  The price of Bitcoin can go down or up, but this does not affect the value of the first cryptocurrency. 

Bitcoin is a deflationary asset.  This means that in the long run, in terms of any fiat currency, Bitcoin will always rise in price.  This is a natural process, since the modern financial system is based on interest on loans and annual inflation. 

Therefore, I am absolutely calm about the future of Bitcoin.  Changes in the price of bitcoin do not bother me at all and do not affect my mood!
hero member
Activity: 2366
Merit: 594
Before I tend to panic when the price is dropping like if I am losing 10 - 20% I cant sleep and thinking of negative thoughts, that is my first time holding bitcoin. There are times I sold it but then I regret it. Right now I tend to have neutral feelings but I don't do checking the prices of bitcoin on a daily basis as this can trigger my emotions I tend to see it on weekly basis and also I keep in my mind that I need to buy more if the price is dropping
hero member
Activity: 3150
Merit: 937
Giving sh*t about a 3% Bitcoin price movement is something only the noobs do.
After dealing with the Bitcoin volatility for several years, you just develop a different mindset. It sucks to see the BTC price dropping severely, but this is the nature of volatile assets. They just go up and down. When the price is down, that doesn't mean that it will stay there forever.
The same thing applies to the price being at a high level. I don't think that Bitcoin would be able stay at a 60K USD level for months and years.
I have faith in the concept of Bitcoin and the Bitcoin Core blockchain. I just don't think that 99% of the altcoins/tokens will exist after 3 years.
full member
Activity: 560
Merit: 141
★Bitvest.io★ Play Plinko or Invest!
When getting into bitcoin trade you need to calm yourself down and focus on your trade, don't be move by what is going on around you and by what you are facing why doing your bitcoin trading investment.
When I first went into trading on Drive Go trading app i was moved by my emotions and I lost everything I had in it,this is as a result of me been so eager to make alot of profit and not lost so I end up losing everything because of my feelings to make huge profit with out getting to know about how to control my emotions,so we shouldn't let our emotional state make us loss or lost our way why get involve it bitcoin trading.
legendary
Activity: 2156
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How do you guys emotionally balance Bitcoin?


accept all the consequences that arise from the movement of the value of btc itself, and because before we enter into investing btc we should already know the worst thing we will face, namely if btc experiences a decline
hero member
Activity: 2184
Merit: 891
Leading Crypto Sports Betting and Casino Platform
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.
This is a postulate and a common sense at this point but as common sense is, it's not really that common. Anyways, it's always important to keep a calm and collected attitude whenever you're trading as slight changes in mood and emotions may render you falling into your own heuristics and biases which itself is not good. So just like you said, don't celebrate, and most of all don't let it get to you as well when bitcoin goes down in value. After all the cryptocurrency is cyclical in nature and there will come a time in the foreseeable future when it will bounce back and reach another ATH like always. I think this suggestion is the most important thing you can impart to newbies as a seasoned crypto trader.
hero member
Activity: 2282
Merit: 560
_""""Duelbits""""_
Actually, in this case, we may be happy, but we also shouldn't cross the line in any case.
Regardless of what the current state of affairs governing emotions is important I wouldn't say trading on this but on the other hand it's clear the current state of affairs is still a bit tricky and it's too early to be happy with the upside now after quite a dip.
We really need to bring our mind down and not be overwhelmed about the current state of the crypto market especially for those that had large holdings of Bitcoin and the worth of there portfolio had reduced drastically. This is how the market moves and we all need to be calm and not take a stupid decisions that will make us sell our holdings making us to lost drastically.

There are some newbies who still do not understand the market and are still confused while the crypto market is highly bear this season when we all expected the market price to return to the upward direction.
In this condition, control over oneself is very important.
But this condition doesn't always have to be able to be done because sometimes there are a lot of things that are very difficult to avoid when a fall like this happens so it's not too strange actually to see a lot of people giving up and I don't blame it for that even though I thought their actions were very careless.
On the other hand, now an increase has occurred, but this is only a percentage of the number of declines, so we still have to be patient, whatever is happening now, hold on and focus on your assets for the future.
hero member
Activity: 1680
Merit: 845
That applies to all investments in general. You can't be emotional or you're gonna make mistakes.
It may depend on your motive because as a trader one still needs to keep in touch with the market price to know when to take the next action, bit of one have a long-term investment plan then one can easily look away from the bitcoin price.

Bitcoin price may be very frustrating if not viewed in the right sense and frame of mind, and going by that one should only check price when exchanging bitcoin to the  dollar.

Well, it depends on how you decide to look at Bitcoin's price. Traders, for instance, see market volatility as an opportunity and will continue trading no matter how much Bitcoin is worth. Holders like myself, on the other hand, aren't bothered by the market condition and simply stick to accumulating Bitcoin. That doesn't mean that I'm not monitoring its price or that I don't check how much my balance is worth, especially after this minor bull run, which spikes up your interest. Having said that, I'm not closely monitoring my money, but I haven't left it on autopilot either.
hero member
Activity: 1176
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Actually, in this case, we may be happy, but we also shouldn't cross the line in any case.
Regardless of what the current state of affairs governing emotions is important I wouldn't say trading on this but on the other hand it's clear the current state of affairs is still a bit tricky and it's too early to be happy with the upside now after quite a dip.
We really need to bring our mind down and not be overwhelmed about the current state of the crypto market especially for those that had large holdings of Bitcoin and the worth of there portfolio had reduced drastically. This is how the market moves and we all need to be calm and not take a stupid decisions that will make us sell our holdings making us to lost drastically.

There are some newbies who still do not understand the market and are still confused while the crypto market is highly bear this season when we all expected the market price to return to the upward direction.
sr. member
Activity: 672
Merit: 273
That applies to all investments in general. You can't be emotional or you're gonna make mistakes.
It may depend on your motive because as a trader one still needs to keep in touch with the market price to know when to take the next action, bit of one have a long-term investment plan then one can easily look away from the bitcoin price.

Bitcoin price may be very frustrating if not viewed in the right sense and frame of mind, and going by that one should only check price when exchanging bitcoin to the  dollar.
hero member
Activity: 2170
Merit: 530
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.
Hmmm I think I'm used to it, I am not too much anxious about it especially if I know that it really happens just like what we are having right now in our chart where bear market came in last year, a lot of projects goes down. I really like when bitcoin goes up but it doesn't make me too much happier I mean maybe when it will reach $50k or $60k maybe it will start to affect my emotion again. I just need to have a good mental fortitude so that when we will experience some dumps again before halving next year, it will not be painful for me and it will not make me sell my assets because of panic.
hero member
Activity: 1498
Merit: 504
Such is life , people always want to be in the receiving side always. Like it is always said if you don't deserve the the bearish market you don't also deserve the bull market. The problem people normally have with bitcoin market is the lack of patience,  most people just want profit so fast but find it difficult to invest, wait till the investment becomes profitable. I believe in the market  and their is time for everything,  as far as their is time for the bear market,  their is time for the bull market which definitely come. Everything is just a matter of time which people needs to understand.
For an investor to have patience and be able to control an emotion is an obligation if they want success in investing, because investing is an act of sowing or storing an asset for a long time or you can say long term with the aim that the assets stored can be multiplied. thereby making a profit.
However, if you want to get profits quickly, someone can trade by buying an asset and then selling it after the price has increased. The buying and selling strategy only takes a short or certain time and the profits are not that big.
But a trader can get more profit if you do it consistently.
sr. member
Activity: 952
Merit: 275
I have emotions just as other humans like me but when it comes to crypto I've learned to control my emotion, the last time I was so on the edge of my sit after buying Bitcoin was in 2017 and I bought at a high price, the lesson I learned was to never buy Bitcoin at a very high price again.  

Now I bought at 17,000$ and also 15,000$ and still sitting my ass on some stable coins just in case we see 10,000$, my emotions are zero now, maybe when 2025 is here and Bitcoin starts surging over 69,000$.

5% or 10% gains on my BTC does nothing to me, not even 50%.
legendary
Activity: 3234
Merit: 5637
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Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

You are quite wrong here, because most people who have invested in Bitcoin or are just planning to do so have no other reason than to earn as much money as possible. If we take into account that a large percentage comes from countries where the standard of living is quite low and that Bitcoin serves them as a kind of lifeboat, and that they do not even have basic knowledge about investing and the risks associated with it - then I I'm not surprised that they behave in exactly the way that seems illogical to you.

I don't know if it's just plain ignoring or a low IQ, but in the last few days at least twenty threads have been opened with the question "why is the price of BTC rising", and everyone who asks that question has not read a single article about the economy or maybe sometimes watched the most ordinary news on TV. I can understand that, but it is not clear to me that someone invests in Bitcoin and has no idea what is happening in the world around him - Bitcoin is not some isolated island but part of the world markets.
hero member
Activity: 1050
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Such is life , people always want to be in the receiving side always. Like it is always said if you don't deserve the the bearish market you don't also deserve the bull market. The problem people normally have with bitcoin market is the lack of patience,  most people just want profit so fast but find it difficult to invest, wait till the investment becomes profitable. I believe in the market  and their is time for everything,  as far as their is time for the bear market,  their is time for the bull market which definitely come. Everything is just a matter of time which people needs to understand.
legendary
Activity: 3654
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It is not as easy as it looks, it takes time before you could do something like this and it's understandable, but at the end of the day it is going to be a pretty big part of your life if you are going to keep focusing on what is happening.

I believe that the best thing to do would be limiting your emotions, getting rid of them is not easy but you could at least limit them. Like for example locking your money would mean that you can't use it even if you want to and that is why I tend to lock them when I can, it allows me to not look at them for a while. Too many people end up with a bit of a problem when they end up with emotions during a bear market.
hero member
Activity: 504
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Pizza Maker 2023 | Bitcoinbeer.events
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.

If there's one thing I've learned with bitcoin it's that you shouldn't look at the price at all.  It's ridiculous to try to put a value on Bitcoin, because it's still not quite clear that 1BTC=1BTC and yet apparently we still look at the price too much.  So answering your question, I have no emotions when BTC goes up or when it goes down, I'm still the same.
hero member
Activity: 1918
Merit: 564
It is a given advice by many successful traders and investors that one of the key for a successful venture is to have a balanced emotion or controlled emotion.  We can be happy, angry or whatever but as long as we don't make these emotion affect our judgement in our investment venture, we are good to go.  

Relying on emotion or being affected by emotion often makes our rationality vague, missing important details and information that can resulted in failing to think wisely and have a good and unbiased decision toward our next action.

legendary
Activity: 2422
Merit: 1140
duelbits.com
When you do see your portfolio is dropping even on small percentage then you would really get stressed and would be happy even if you do see some small percentage gain.
If you invest in Bitcoin for the long term, it is not necessary to check it very often.
Just keep it in your wallet and only check it when you think it is needed. Too often checking it will lead to stress and feeling emotional. It is such a waste to do, you won't sell the Bitcoin very soon. I believe people who are experienced in Bitcoin investment, rarely check their Bitcoin value if they invest for the long term. Only people who trade Bitcoin need to check the Bitcoin value every day.

hero member
Activity: 2282
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_""""Duelbits""""_
Actually, in this case, we may be happy, but we also shouldn't cross the line in any case.
Regardless of what the current state of affairs governing emotions is important I wouldn't say trading on this but on the other hand it's clear the current state of affairs is still a bit tricky and it's too early to be happy with the upside now after quite a dip.
sr. member
Activity: 1008
Merit: 366
When I feel like I am getting emotional on trading, I simply just divert my brain on to doing something else. Could be anything! I have a bad habit of smoking cigarettes, so I take a break and smoke one in order to think a bit more and clear my thoughts. I am not referring to anyone to smoke.
But as an example, I think it fits well.
And to get emotional, you need to have a fear of losing. That's why it's always said that, 'Don't invest what you can't lose'. So keeping that in mind, if you have no worries then it is more likely to not get much emotional over that. But emotional decision could still come by greed. Also, there are other things that need to be address as well.
But it's so simple to divert your mind from it and focus on other thing.
legendary
Activity: 2646
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Being emotional is the true nature of the people. When the same have got something connected to finance people easily turn emotional. People need to know well about the volatile market scenario. This will keep the common people's mind prepared for the best. When the portfolio value drops, people always look for maintaining it through some other means. This have landed people into gambling and other much riskier ways of moneymaking.
hero member
Activity: 2814
Merit: 576
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.
I just think it’s a very volatile investment and that monitoring its price movement will never be helpful at all. That way, I can avoid my emotions to burst out especially when my portfolio is filled more with bitcoin than altcoins. And I always have come to accept that bitcoin never guarantees profits all the time, we can be profitable today but we might also lose the following day so bitcoin will always be uncertain and unpredictable. That’s why if we can protect our emotions as much as we can, then we should stay neutral and accept that bitcoin is all about winning and losing.
hero member
Activity: 2688
Merit: 540
DGbet.fun - Crypto Sportsbook

How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.
You cant blame out someone on having this kind of approach or reaction when it comes to price since its been a while which we didnt able to see this kind of movement specially on gaining side
where it would really be a common approach and reaction into that particular situation.We are just humans which we are really that  emotional into something that involves money.
When you do see your portfolio is dropping even on small percentage then you would really get stressed and would be happy even if you do see some small percentage gain.
Just deal up according into your emotion and the important thing is that you are aware on what you are doing which is they key into this.
hero member
Activity: 2940
Merit: 613
Winding down.
In any form of investment, you should separate your emotions from your action especially with this blockchain wherein the market price is changing from time to time. If you'd be eaten by your emotions whenever the market price moves, you'd end up with huge loss. This market is unpredictable in the first place so expect that things won't be easy. There will be times you will need to set aside frustrations perhaps, to avoid making your losses bigger. There will be times you need to calm down and be patient. Also, times you have to accept that things won't always come in accordance to your own liking. That's just how this market works. Those who will be eaten by emotions will push their way to earn profit. Since things are not certain, attempts of creating profit might become a way to lose more.
I think it’s hard to separate emotions in all that we do, especially if we are craving for success. But since bitcoin is a very volatile investment, and anytime it’s price may dump or pump, so it’s best to just lower down our emotions and never be totally attached to it, that is when separation is really hard to do. Otherwise, when we put our emotions especially in bitcoin trading or investing, we tend to fall mostly on poor decision making and left us impatient seeing our portfolio is losing. That will eventually create more losses instead.
legendary
Activity: 1050
Merit: 1100
In crypto, there is no space available for emotion. Crypto, teach me the meaning of patience. I was too panicked and emotional when I first started using cryptocurrency. But as I mature, I keep my emotions separate from crypto. Now it doesn't matter what the price is. I held out until I made a profit. I'm not in a hurry to make money these days. If I notice an uncertain pump, I sell it immediately, but I buy it back when the dump begins. Because I've noticed for a long time that Bitcoin drops after every uncertain pump.

The unpredictability of Bitcoin makes it very difficult to trade. You can't just pinpoint a reason for the fall or rise in price. I have had some losses in this past bearish run and I am hoping that it would be able to recover all I have lost. Selling my Bitcoin and profiting from the sales would be a decision I have to take with my wife because she has been encouraging me to keep hodling regardless of the price. Within these few months her confidence in Bitcoin rose to a large margin. I am not emotional because Bitcoin have made me to be patient and disciplined. I believe the price might rise above $20,000 this month. For now, all my critics are silent because their predictions failed.
hero member
Activity: 2884
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I am terrible at Fantasy Football!!!
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?
This is something which takes time to get used to because even if you had experience in other markets bitcoin moves way faster than them, as an example lets suppose that you ride the most extreme roller coaster you can find, at first every single movement will put you on alert and produce all kind of emotions in you, however if you were to ride that roller coaster hundreds of times then eventually you will get less sensitive and only the biggest movements will have any effect on you, I see bitcoin in the same way, and the current positive movement is a great way to see how this is true, newbies are going crazy about the current positive movement of bitcoin, while experimented investors just look at it and while happy they do not think too much about it.
hero member
Activity: 1680
Merit: 845
Honestly, I don't care at all; I'm well beyond that point with Bitcoin. I used to get so emotional and frustrated in the past that I've stopped being bothered by volatility. I'm not planning to sell anytime soon. Certainly, if Bitcoin surpassed $50.000 tomorrow, I'd be pleasantly surprised, but chances are that I wouldn't sell nor proceed to change anything with my planning. Personally, I just fancy accumulating as much Bitcoin as possible without being distracted by the market's fluctuations.

I used to get emotional in the past, which only resulted in me making stupid and repetitive mistakes.
hero member
Activity: 1778
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Leading Crypto Sports Betting & Casino Platform
Controlling self-emotions is the key for whoever enters any financial market and this market can be bitcoin and cryptocurrencies or other markets still controlling emotions is an important element for everyone. But whenever are talking about bitcoin and cryptocurrencies, since compared to other markets this market is much riskier and this risk can grant reward for people, the market can be much more dangerous for people who start doing emotional movements such as panic selling or greed buying if you can control your emotions bitcoin can be heaven for you.
legendary
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Top-tier crypto casino and sportsbook
Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.
I will not blame people who freak out easily whenever the price of bitcoin changes, they are mostly inexperienced or built that way. Learning to control your emotions and not letting them affect your decision making is a skill to master because our emotions are always tested by almost every situation.

How do you guys emotionally balance Bitcoin?
Before making a decision always double check to know if emotions are involved.
hero member
Activity: 3052
Merit: 606
How do you guys emotionally balance Bitcoin?

At some point you simply just get tired of refreshing your portfolio that you just ignore most price movements. Though I'll admit that in extra-volatile times, I still refresh CoinGecko a lot — but I don't make impulsive buy/sell decisions.
Yes. When you are a long term hodler of bitcoin and you have witnessed already its highs and lows, you won’t be thrilled anymore with price changes and monitoring the price often will never be your thing anymore. Instead, when the price drops rapidly and heavily, you may consider buying but the moment it goes up again, you won’t even care selling it, unless if it reaches its new ATH.
legendary
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Signature space for rent
In crypto, there is no space available for emotion. Crypto, teach me the meaning of patience. I was too panicked and emotional when I first started using cryptocurrency. But as I mature, I keep my emotions separate from crypto. Now it doesn't matter what the price is. I held out until I made a profit. I'm not in a hurry to make money these days. If I notice an uncertain pump, I sell it immediately, but I buy it back when the dump begins. Because I've noticed for a long time that Bitcoin drops after every uncertain pump.
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
OP, I think your words are encouraging to those who find it difficult to balance their emotions for most of the events in their lives. The nature of man varies. There are some people who find it difficult to balance their emotions over certain things they do. for example, in the casino, some will play and win consecutively, but at a point if luck runs against them, they begin to have some mixed feelings, trying to bring their emotions into the game, which can trigger them to gamble off everything they win earlier on trying to recover their loss. @OP, I can attest to how happy someone I know was when Bitcoin hit $65k in 2021. The neighborhood heard his voice, but he was heartbroken during the downturn of the market in 2022.

I often checks the market condition, but I don't get my mind worked off with 24h PNL, and that's because I am in to hold for a long term and I have other sources of income, so I am not too bothered.
legendary
Activity: 3248
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I used to be concerned with the price in 2018 because back then I didn't expect such a long bear market and while I generally believed Bitcoin will get through this, it was hard to convince myself of that. But the bear market was so long that I kind of got used to it, and then nothing seemed impossible when Bitcoin finally recovered. So now I don't have strong emotions about the price, especially if we're talking about minor changes (below 15% within a week). I think the idea that helps me stay calm is 'this, too, shall pass' (whether it's good or bad, it's temporary, and that's the way of life). Another thing that helps is not having the amount in BTC that you can't afford to lose.
hero member
Activity: 2632
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Jack of all trades 💯
Traders need to be prepared mentally especially when trading volatile coins like bitcoin since if they are not. Provably they will got huge disappointment because market moves unpredictably. We need to be mentally prepared and to have this a better crypto education is needed before investing so that we are armed with knowledge which we can use on multiple scenarios in the market and earn profits with this.
hero member
Activity: 3038
Merit: 617
Can't help myself celebrating as well when BTC goes up, I would even gamble more when my money increased its value. It gets me motivated but may also spend more. Happens probably too many investors also.

Emotions are hard to control when something happens that is to be happy or sad. This is why emotion is among to discuss in the trading tutorials. Today as BTC move more than $19k, my plans multiply also.  Cheesy
legendary
Activity: 2576
Merit: 1252
Leading Crypto Sports Betting & Casino Platform
In any form of investment, you should separate your emotions from your action especially with this blockchain wherein the market price is changing from time to time. If you'd be eaten by your emotions whenever the market price moves, you'd end up with huge loss. This market is unpredictable in the first place so expect that things won't be easy. There will be times you will need to set aside frustrations perhaps, to avoid making your losses bigger. There will be times you need to calm down and be patient. Also, times you have to accept that things won't always come in accordance to your own liking. That's just how this market works. Those who will be eaten by emotions will push their way to earn profit. Since things are not certain, attempts of creating profit might become a way to lose more.
sr. member
Activity: 826
Merit: 460
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.

I think your explanation is a common occurrence for investors and that in my opinion is a natural thing because basically the orientation of an investor will be happy because whatever profit the price increases, vice versa, they will feel upset or disappointed when the price decreases, the emotion will always be present within.
But basically we have to be able to regulate our emotions towards rising and falling prices so that it doesn't become excessive panic and uncontrollable excitement.

I think your view is more directed towards measured investors who are new to investing in bitcoin because those who are experienced in investing in bitcoin will not be overly exaggerated in any situation.
hero member
Activity: 2366
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Bitcoin = Financial freedom
You have to be balanced no matter what and if you can't then you won't be a successful investor for long time period. Personally I don't take anything too personally because its a loss of money not the end of this world and we know money can be earn later and we did it already so just take it easy and be cautious all the time while making investment choices.
newbie
Activity: 93
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That applies to all investments in general. You can't be emotional or you're gonna make mistakes.
mk4
legendary
Activity: 2870
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Paldo.io 🤖
How do you guys emotionally balance Bitcoin?

At some point you simply just get tired of refreshing your portfolio that you just ignore most price movements. Though I'll admit that in extra-volatile times, I still refresh CoinGecko a lot — but I don't make impulsive buy/sell decisions.
jr. member
Activity: 322
Merit: 1
Bitcoin the future of finance

How do you guys emotionally balance Bitcoin?


Mate, you are completely correct,
First thing is we don't set this crypto field as our primary source of income because of high volatility ,
second thing is patience and patience ,in both buying and selling ,
Dont know fundamentals first learn then invest .
staff
Activity: 3304
Merit: 4115
I just use it. Whether that be to trade something or to store my wealth off of banks. Whatever, you choose to use Bitcoin for, embrace it for that rather than it's current price. If you aren't purchasing or selling things for Bitcoin that's even more true. Don't look at the price. I don't tend to look at the price often, and I've gone years without checking it myself. Usually, get the price from threads on here. However, recently I've just been enjoying the ride, and speculating (horribly) on what the price might turn out to be. Although, I have nothing really riding on those predictions as I have a relatively positive medium to long term outlook.

As long as you understand why Bitcoin was created, and why it's considered revolutionary by some; you probably won't have to worry about it increasing in price in the future. Also, the fact that it's designed to be deflationary too.
full member
Activity: 1708
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www.positivebetting.com
The way I have always tackled anything in life especially Bitcoin is to have balanced emotions.

Lets say Bitcoin is $19,000. If it goes up 3% then do you throw a party? Then don't be upset when it drops 3%.


If Bitcoin doubles, I wouldn't throw a party especially since it was at $60k+ at one point. So if it cuts in half and goes to $9k I will treat it the same.


Not financial advice, but lots of people freak out over the price of Bitcoin or anything for that matter but don't have real logical reasons.

If it goes up 3% and you would be happy or neutral, then you can be bummed if it goes down 3% but don't sell based on that.


How do you guys emotionally balance Bitcoin?


Not financial advice, this thought could be applied anywhere.
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