Mental barrier stops from buying BTC - page 9.

aardvark15

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

Yes the price seems high so you want to wait for a drop to buy but then the price just keeps going up. I've been there many times. In fact, I don't trade much right now for that reason. The price is too high to buy for me. I still think there can be a big correction coming but a big correction now would be $3000 which is high compared to just a few months ago. And I could be wrong and the price could keep going up to $10,000 and we'll be wanting a correction to $8000 to buy. We all face this dilemma.

neurotypical

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

You are looking at the linear chart, look at the logarithmic chart and you see we are not in a bubble at all. A lot of market analysts are calling a 5 figure price for the next year. Anything is possible, as we've seen, fake chinese news can crash the price a big deal, and we got the segwit2x hardfork on november which could cause a crash too, but in the long term everything should be OK. Im not saying great opportunities to buy cheaper aren't around the corner, that is why when some people asked me if I would buy in right I said no, because I don't want newbies to get money on bitcoin, then see a wild crash (like the one we saw) and have them complaining about it to me.

Bitcoin is for special people that understand the technology and do their research first. This is what will make you stay comfortable for the long term and ignore all the drama and price swings. Long term BTC holders are going to get rich period, but few have what it takes to hold long term in this game.

filharvey

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

I think that mostly newbies and people who don't have clear knowledge about bitcoin would only have such feeling and confusion.If we see the previous price history of bitcoin price,we could clearly see that it has not disappointed its investors and it has settled always in a price more than its previous price.If you still wait for the dip,better think about those people who had a golden chance of buying bitcoin at $1850 before august and still they wanted for more dip and finally they had to regret for their delay since bitcoin price immediately rose to $3000.So,invest confidently.Bitcoin seems almost to be a sure to success.

babygun

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Quote from: BitcoinUKmedia on September 08, 2017, 06:14:38 PM

Buy it for the long term and stop worrying.
Over the long term bitcoin has performed as a great investment.

Exactly like that. Buy some bitcoins (even fractions) and keep it for a long term. If you read news, some people are expecting that the price will go up to 10000$ or higher at the end of this year... I am not sure if this will happen, but future is bright for bitcoins

alani123

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I think that people don't quite have the ability to familiarize themselves with the idea of holding such amounts directly into a wallet without any further institutional insurance. But aside of that, many web-shops are accepting bitcoin every day. I went to buy some shoes the other day online and to my surprise the store was accepting BTC. It's very low cost and also low risk to accept it online.

Baofeng

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Quote from: orions.belt19 on September 08, 2017, 11:18:09 PM

Quote from: JimmieA on September 08, 2017, 08:20:07 PM

Emotion and psychology are very difficult to control. But you have to learn how to control it. Only then can you make the right decisions. In order to have confidence in yourself, to control your emotions, you have to understand the market carefully and follow the fluctuation of prices to be able to predict accurately. So you can succeed in investing btc. But all are exceptions. There will definitely be wrong decisions. But, try!

Sometimes, listening to your emotions and gut feelings may lead one to their success because it makes them decide wisely. Other times, it make them too scared to make a decision just as you have shared. There's nothing wrong with that, it is but normal to feel scared sometimes or have some doubts. Just don't let it have total control over you or you will lose your mind overthinking about it.

It really is hard to make predictions and speculations, and there is no 100% accurate price prediction out there so just try to research thoroughly and make a judgement for yourself so that you can make decisions confidently.

Yes, sometimes those gut feeling or emotions are leading you do a good direction. But if you think otherwise then you will regret and a lot of 'what if' questions being asked. So it really depends on the individual if he is willing to hear those feeling inside of you telling to buy bitcoin specially dips. However, its not always right as well, so you have to really balance yourself if you are going to listen to yourself or not.

Qiuyue201

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

Why stop? have you even heard about that in the previous time? I meant in 2013 bitcoin has the same story with this time, the china are trying to ban the bitcoin and that was the reason for us to believe in bitcoin, because bitcoin is the future of the digital payment.

aoihs00

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It's not big deal and almost 90% people do the same thing as you are depicting it here. They might say big things like they don't care about the price drop and investments and etc but the thing is everyone is concerned about the money they hold. After all it's money and in a serious node everyone loves it. Nobody wants to get in loss and that's why everyone is panicked while investing money.

Everyone thinks that they will invest money when the price will go down a lot. The only thing we should take care of is we should not get much greedy and whenever the little change occurs you should just buy the coins. Waiting for long time always gets the thing done upside down.

ss890

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Yeah happened with me many times. It's really difficult to digest that thing because when we think one and happens something else then it goes upside down. I have lost so many opportunities, the good one which could have made me rich and I could have been reinvesting my profits by now and relaxing in the chair. The start of year 2016-17 when the bitcoin price saw dip of 700 usd, the event of bitcoin crash in the mud year 2017 and now the segwit situation when the price hit the remarkable dip of 1800 usd. These were the best investment opportunity I have missed in my life and now hoping for the next dip to occur. This is what happening since I met bitcoin. One should be very strong in the decisions making when we are trading asses like bitcoin.

MoonIsBlue

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

I think you can deal with this by informing yourself understand in what stage we are with this whole cryptoscene. It's still in the early adaptors phase (=$$$) to put it plain 'n simple. If you're planning to make a quick buck than the hesitation is because you don't have the intell to make a reasonable price prediction. If you're looking for a longterm investment well then you should just do it and stop giving a fly if it is 2000, 3000 or 4000 as most likely it will still exponentially rise in the long term.

If I had been a bit smarter watching this scene passively for 4 years I'd have breaken trough my barrier and bought when I saw btc @ 300 but I found it all too complicated.
I wanted to buy ethereum when it was under a dollar but found the process to complicated. Now I don't find it complicated but rather sketchy...

Hope this helps a bit.

btc_angela

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

In the beginning of my journey, Yes. But as I matured enough, I realized that you don't need to wait for the price go to low before buying it. Well of course, its better to buy in dips, but sometimes you already see that the price is dipping and still wait for a certain price to enter, then suddenly the price shift course and you lose that chance already. That's why if ever I got the funds and the price is low, I immediately bought even in a small portion because I don't want to lost that opportunity to earn profits by hodling.

darthmaul

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

This is why they say there should not be mixing of trading and emotions which ends as bad result. This is because you get humbled with greed and you always think you can get the coins at lowest price and will sell them at highest possible rates. That's not the way it works. You have to be better than that in handling the trades. If you want to be in the race for long period of time then you have to go for liquid investment. Which means regardless of price of bitcoin or any coin that you invest you should be putting money into it and then winning the game.

orions.belt19

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Quote from: JimmieA on September 08, 2017, 08:20:07 PM

Emotion and psychology are very difficult to control. But you have to learn how to control it. Only then can you make the right decisions. In order to have confidence in yourself, to control your emotions, you have to understand the market carefully and follow the fluctuation of prices to be able to predict accurately. So you can succeed in investing btc. But all are exceptions. There will definitely be wrong decisions. But, try!

Sometimes, listening to your emotions and gut feelings may lead one to their success because it makes them decide wisely. Other times, it make them too scared to make a decision just as you have shared. There's nothing wrong with that, it is but normal to feel scared sometimes or have some doubts. Just don't let it have total control over you or you will lose your mind overthinking about it.

It really is hard to make predictions and speculations, and there is no 100% accurate price prediction out there so just try to research thoroughly and make a judgement for yourself so that you can make decisions confidently.

Aventhe

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

I agree, bitcoin's price might drop some time soon. Over the past few months, maybe even weeks, Bitcoin's price has dramatically increased. I too am afraid of an upcoming drop that might hit us some time soon as a result of this drastic change.
However, even despite this possibility, holding bitcoins would still have to be my biggest option when it comes to earning bitcoins and making a profit from it. Even if the price does drop, it will most likely stabalise itself after some time, maybe even a few hours. I just don't see any reason why it would collapse.

DoublerHunter

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I also experienced that kind of fearness in bitcoin and i am not be able to buy bitcoin to the price that i am doubting that will go down so i just ignore buying bitcoin and i always experience that when the price was 2,500 USD because my buying price is only 2,000 but the price right now is above 4,000 and i already learned the lesson and i deal with it by buying bitcoin regularly to avoid having doubt for the price for not buying at the right time.

jseverson

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I'm pretty sure everyone encounters this problem. You're risking your hard earned money after all. The safest way, obviously, is to only risk money you can afford to lose. You don't gain as much, but you don't lose much either.

You could also do cost averaging to take mental barriers out of the equation.

cpfreeplz

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I just keep HODLing and they keep going up. Just hoard and hoard and never spend then you never need to worry about the dips when you're at 1000% profit.

muncuss

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imo it is still cheap now (45xx-48xx). it broke $5000 not long ago.
ppl who regret not bought at 2xxx, they don't realize what the price would become in future. so when the price hit 7xxx, there will be ppl who regret because not buying bitcoin now.
buy some btc and save some usd in case it dump hard

hello_good_sir

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

The price is most likely going to be dumped hard very soon.

Even without all this negative press coverage and new regulations that strongly oppose bitcoin from China i think the eventual adjustment of price downwards will be inevitable. Bitcoin is not something that can always go up so quickly. It is a currency, and even though currencies can be considered investments they still don't achieve crazy returns in the long run that btc has achieved over the past few months. It's not sustainable growth.

I would say that buy bitcoin when nobody is talking about it, sell when everyone is.

GreenBits

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Quote from: Beerwizzard on September 08, 2017, 01:12:43 PM

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

You are just being a smart investor. dont feel bad about this Wink

the meteoric rise in value is not sustainable, imo. bitcoin cant go up forever; eventually, it will correct, even if it does continue up. i take sooo much flack about this from some of my crypto bros. i have advised people against purchasing new bitcoin for the last 6 months or so. i wont be responsible for suggesting an asset that goes south a month after i mention it

so those same people, have been like 'fuck you man, i could have made 20%" and to this day, i would still tell them. wait.

and now im waiting to see if ths china rumor bullshit has any teeth to it, and what that will mean for the price and the altcoin markets. all these recent developments may prove me right; bitcoin might be considerably cheaper in the near future, for a limited time Wink

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