Topic: Newbies: Don't panic and learn to hold (Read 1488 times)

Learning is very important for those who are new to cryptocurrency. Most of the new investors invest in trading without learning proper knowledge. If they take any trade for short term and if it is loss, then they hold it for long term. They don't know what is for long term or short term. If one learns here and starts a trading business, he will be able to understand which one to hold and which one to give up. After all, they should not be panic. The biggest thing is that without proper knowledge, a trader may not be able to survive for long.

Not only newbies but the old investors also get panic seeing prices of bitcoin below 20,000$. More panic is being created by crypto related news sites which can more negative news shaking the confidence of the bitcoin holders. In these times, we need someone to keep reminding us that we have to stay strong and threads like this really help us to stay focused and not get involved in panic selling.

I personally hold the coin there is a target which if it hits the target then I will release the coin. I don't hold it for a long time as long as the coin I hold has touched the price as I expected then I will release it.

I think this topic is worth to remind again for many newbies who panic about the current situation where Bitcoin price $30K strong resistance now drop to $24K currently traded. There are many so called expert who always predict Bitcoin price will go to x, the bottom is x etc, also one of them were offer to give his money to everyone if his prediction gone wrong, this strategy is to convince newbies to believe his words.

Take look on these so called expert who predict Bitcoin price:
1. The ‘Ultimate’ Bottom?—Major Fund Manager Reveals Shock Bitcoin Price Prediction And Stark Crypto Warning As Ethereum, BNB, XRP, Solana, Cardano And Avalanche Plummet
2. Renowned analyst who predicted Bitcoin price top at $69,000, now claims the bottom is at $24,000
3. Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level
4. Crypto is dead. Long live crypto
5. Long-Time Bitcoin Bear Offers $1,000 To Every Retweeter If His Prediction Of BTC Hitting $10K In 2022 Goes Wrong

Don't believe of those so called expert predictions since there's no guarantee their words will come true, there's no crystal ball in this world. If they're a time travel who know the correct Bitcoin price in the future, they would shut up and just bought the bottom price, so they can sell at the peak since they're already know it. But, why does they need to told everyone the Bitcoin price will crash to x etc? Because they want to gain popularity if their words are come true. They just randomly guessing the price in hoping they're correct.



Did I scared after looking this chart? No, because if you look at the history, you will see Bitcoin have been survive 3 times about the dump/crash.


The first is on 2017 and 2018, where the peak is $19K and the bottom is $3K (84% change)
The second is on 2019 and 2020, where the peak is $11K and the bottom is $5K (54% change)
The third is on 2021, where the peak is $60K and the bottom is $30K (50% change)

Now we're previously at the peak $69K and currently the bottom is $24K (65% change) is still not beat the 2017 and 2018 history where the change is 84%, why would we panic and not trust Bitcoin anymore? Think about it.

If you still keep thinking Bitcoin will dead, do you forget all the adoption from any institutional, government, and foremost the countries who accept it as a legal tender. Not to mention Bitcoin already improve a lot of the development e.g. Lightning network to solve the scalability issues, using for friendly energy for mining, hash rate & difficulty increase to prevent from 51% attack etc. Bitcoin right now is more scarcer since it's already mined 19Million Bitcoin, only 2Million left. We're already close Bitcoin will be accepted in entire countries due to it's value and become a currency since the price will be more steady. This is the reason why I AM HODLING.

Don't predict the bottom, just do Dollar Cost Averaging or Averaging down to accumulate more Bitcoin. We're as a Bitcoin enthusiast are looking for long term, not short term or instant profit by pump & dump of shitcoins. Also there's nothing wrong to diversify your investment, but make sure you're diversify to other assets/commodities e.g. gold, silver, bonds, real estate etc, never diversify to shitcoins since it's worst than Bitcoin.

Now is the right time to be a hodler. Selling bitcoin at a lower price won’t get you anything. You are anyway at a loss if its price doesn’t go up. So, better learn to wait and get an idea of what is happening before you start panic selling. No whales are selling their bitcoin.

Don't predict the bottom, just do Dollar Cost Averaging or Averaging down to accumulate more Bitcoin. We're as a Bitcoin enthusiast are looking for long term, not short term or instant profit by pump & dump of shitcoins. Also there's nothing wrong to diversify your investment, but make sure you're diversify to other assets/commodities e.g. gold, silver, bonds, real estate etc, never diversify to shitcoins since it's worst than Bitcoin.

Not only newbies but the old investors also get panic seeing prices of bitcoin below 20,000$. More panic is being created by crypto related news sites which can more negative news shaking the confidence of the bitcoin holders. In these times, we need someone to keep reminding us that we have to stay strong and threads like this really help us to stay focused and not get involved in panic selling.

I think this topic is worth to remind again for many newbies who panic about the current situation where Bitcoin price $30K strong resistance now drop to $24K currently traded. There are many so called expert who always predict Bitcoin price will go to x, the bottom is x etc, also one of them were offer to give his money to everyone if his prediction gone wrong, this strategy is to convince newbies to believe his words.

Exactly! Sometimes I feel like the whole of design of some portfolios (all those red arrows/ red losses) is design is such a way that trigger some panic especially among newbies/new investors. I always advice to new investors to find some sort of a hobby that is NOT about finances. If you believe in a long term investment, whats the point to check it every day?

But one should also know what currencies to hold. One can’t hold any crypto without knowing its potential. It is said,”better to half loaf than to have nothing.”

Good, advice. Look elsewhere for your distraction and just keep your portfolio if you're long term. That's an effective thing to do if you can't take it anymore but you're believing that long term holding will make you successful here.
It doesn't need to be that extreme or what, you just need to remove your attention temporarily in the market so that you won't be thinking anything like forcing yourself to sell because, you might even think of it despite having losses.