Topic: Newbies: Don't panic and learn to hold - page 2. (Read 1538 times)
I like how you added the part of the importance of using an "investing" strategy of DCA or "Dollar Cost Averaging". I think its important for everyone to remember that inherently bitcoin is NOT an investment. Bitcoin , like all other fiat currencies has however become an investment, but keep in mind what it's really for. Keep in mind it's positives as well as it's negatives. Bitcoin does still have a lot of work to do before it gets to any point where it could be used as a reliable currency, so that should not be forgotten.
I would suggest, in times of panic, just get distracted from crypto overall.
Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
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.Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
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.
I would suggest, in times of panic, just get distracted from crypto overall.
Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
Thanks for sharing the information like this here on the forum, with the chart illustration, it really show a little understanding, which trader's called it technical analysis (TA). Bitcoin price going to 15k is not a surprise, because when was 30k it took a lot of week's to break the support resistance, similar thing may occur at 20k, it also have a strong resistance to break down to 15k to 10k, which is another good entry to buy and hold for a long term investment.
I stick to a strategy of long-term investing. So I try to add cryptocurrencies to my investment portfolio during such price drawdowns. But there can be no talk about selling assets. In the future, all coins will be tens or hundreds of times more expensive and will bring their holders a decent profit! Cryptocurrencies are the future!
Generally, during market shifts, newbies get flustered and panic sell or buy. They should try to avoid making hasty decisions as they are putting themselves amidst the risk, while they should just be patient and hold until the market gets calmer. Understanding when to time their moves is a skill needed to be learnt.
Despite that it dipped to $17k last time, I didn't sell my Bitcoin where I have done some DCA already since May 2022. I am at a loss unfortunately but it doesn't stop me from my long-term goals in building wealth with Bitcoin. I don't mind how long will I be waiting for the bull run and recovery to commence, it's just that I don't want to make the same mistake as before in missing out Bitcoin while it was still cheap. For me, now's a good time despite that there's no perfect time to buy and hold.
If you look at the number of bitcoins you hold, you still haven't lost money if you didn't sell them. I don't think you made a mistake here, we don't know whether the market will go up or down tomorrow so DCA is the right thing to do so we don't have to regret it later. Just don't sell when the market is down and be determined to hold until the market goes up and you will be the winner.
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.”
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this will only matter about how newbie being told of crypto and how they are being lured to invest here.
Maybe but it is only a matter of individuals knowledge and belief in the Bitcoin potential because newbies are not the only ones who panic and sell when the market is bearish. This will always happen when most investors are only after profit making through BTC and not the beauty of the technology and the vision of Satoshi.Some of them are those who learn by their own and see that this is a mining of money so their intention is to become rich earlier.
If they learn how on their own it will be better because there are a lot of posts on this forum that can safeguard newbies but they always choose not to learn because their belief is that crypto is just buying low and selling high schemes.
Despite that it dipped to $17k last time, I didn't sell my Bitcoin where I have done some DCA already since May 2022. I am at a loss unfortunately but it doesn't stop me from my long-term goals in building wealth with Bitcoin. I don't mind how long will I be waiting for the bull run and recovery to commence, it's just that I don't want to make the same mistake as before in missing out Bitcoin while it was still cheap. For me, now's a good time despite that there's no perfect time to buy and hold.
If you look at the number of bitcoins you hold, you still haven't lost money if you didn't sell them. I don't think you made a mistake here, we don't know whether the market will go up or down tomorrow so DCA is the right thing to do so we don't have to regret it later. Just don't sell when the market is down and be determined to hold until the market goes up and you will be the winner.out some reaction when we do see our portfolio or investment is really going to the floor thats why its better to make yourself emotional stable and have that good control.
Holding would be always the best option if we are on a declining market and if your budget or funds permits you then allocating cheaper coins would really be that ideal.
What does it take to work on Bitcoin ??
Ans: Twitter, Telegram, Facebook, Medium, Discord, Linkedin, Instagram, Tik tok,Youtube.
Ans: Twitter, Telegram, Facebook, Medium, Discord, Linkedin, Instagram, Tik tok,Youtube.
Despite that it dipped to $17k last time, I didn't sell my Bitcoin where I have done some DCA already since May 2022. I am at a loss unfortunately but it doesn't stop me from my long-term goals in building wealth with Bitcoin. I don't mind how long will I be waiting for the bull run and recovery to commence, it's just that I don't want to make the same mistake as before in missing out Bitcoin while it was still cheap. For me, now's a good time despite that there's no perfect time to buy and hold.
If you look at the number of bitcoins you hold, you still haven't lost money if you didn't sell them. I don't think you made a mistake here, we don't know whether the market will go up or down tomorrow so DCA is the right thing to do so we don't have to regret it later. Just don't sell when the market is down and be determined to hold until the market goes up and you will be the winner. this will only matter about how newbie being told of crypto and how they are being lured to invest here.
Some of them are being Mentored so they are safer than many newbies that only chooses earning short term than those who knew how to keep long term.
Some of them are those who learn by their own and see that this is a mining of money so their intention is to become rich earlier.
those are the thing to consider on how this advise will be managed and followed .
Some of them are being Mentored so they are safer than many newbies that only chooses earning short term than those who knew how to keep long term.
Some of them are those who learn by their own and see that this is a mining of money so their intention is to become rich earlier.
those are the thing to consider on how this advise will be managed and followed .
and in essence, basic guidance on how to make the right investment is needed by beginners. It is not easy to hold on long term if we are not prepared. some just end up cutting their own losses due to some psychological pressure.
I believe after the rain there will be a rainbow, as well as after a bear market there will be a bullish market.
Its indeed a needed topic though at this situation for all newbies who are new to trades. Yes panic sells causes even more depth. I too have my own experience loosing money selling when the market was in such situation. I later learnt to hold instead of selling at lose. Yes, never worry of value falling down as this is the nature of crypto. For certain, the market will boom back in very near future and yes best advice is to hold what you have. You will not be in lose. Hold your coin much tighter and relax watching the current move.
The pressure to sell assets when the market is crashing will certainly disturb psychology. This is because at first we did not have a strategy to do holding, but when the market continues to fall and the value of our assets continues to decline, like it or not, we have to hold. If you still have reserve funds it can still save, but if the money has entered 100% into crypto assets, it's just a matter of waiting. Panic will definitely happen, but if you sell at low prices, you will lose. This will be a dilemmatic situation, but it will be a valuable experience to get used to when the market crashes. 
this will only matter about how newbie being told of crypto and how they are being lured to invest here.
Some of them are being Mentored so they are safer than many newbies that only chooses earning short term than those who knew how to keep long term.
Some of them are those who learn by their own and see that this is a mining of money so their intention is to become rich earlier.
those are the thing to consider on how this advise will be managed and followed .
Some of them are being Mentored so they are safer than many newbies that only chooses earning short term than those who knew how to keep long term.
Some of them are those who learn by their own and see that this is a mining of money so their intention is to become rich earlier.
those are the thing to consider on how this advise will be managed and followed .
It’s important for traders to keep believing in the power of bitcoin. It might be underperforming at the moment but it doesn’t mean that it will be the same in the coming time too. It’s time to keep patience and wait for it to get back to its normal highs.
For me, the best option at the initial stages of work was the demo account of the Amarkets broker. It seems to me that in terms of work, this is now an extremely convenient and reliable option for a beginner.
Demo accounts can't give you the true experience of holding a coin when its price falls down, pushing you into panic mode. This is because you know it was your real money, and feel way more pressure than the demo account. The time seems quite tough to keep patience and believe in bitcoin but that’s probably the right thing to do at the moment. If you look at bitcoin’s history, it has proved its worth over and over again. Keep your bitcoins safe and let them do the magic for you.
Bitcoin reduction is what actually and what normally happen in cryptocurrency world. What are even expecting to say is that this is the right time of anybody who want to buy cryptocurrency to buy because since it is started falling in the right position to buy it and behold until when it will increase so that the profit can be making with those people that is holding it. 
Its indeed a needed topic though at this situation for all newbies who are new to trades. Yes panic sells causes even more depth. I too have my own experience loosing money selling when the market was in such situation. I later learnt to hold instead of selling at lose. Yes, never worry of value falling down as this is the nature of crypto. For certain, the market will boom back in very near future and yes best advice is to hold what you have. You will not be in lose. Hold your coin much tighter and relax watching the current move.
I myself became more focused on DCA. Because I don't want to regret like when bitcoin hit ATH. and at that time I was very sorry for not having many. so I feel when the price of bitcoin drops then this can be used as an opportunity to accumulate bitcoin little by little.
i also invest in gold and i am now pausing to enter shitcoin because after all when the market situation is like now then the opportunity to take profit from shitcoin trading is very difficult. although i still trade daily but i only trade in bitcoin for now. current price fluctuations are also very good for scalpers. so I trade daily and profit from day trading I always set aside a little to increase my capital for DCA for long term. In this way, my mental and psychology are not disturbed by any kind of market situation. Of course, everyone has their own way of dealing with the current market situation.
i also invest in gold and i am now pausing to enter shitcoin because after all when the market situation is like now then the opportunity to take profit from shitcoin trading is very difficult. although i still trade daily but i only trade in bitcoin for now. current price fluctuations are also very good for scalpers. so I trade daily and profit from day trading I always set aside a little to increase my capital for DCA for long term. In this way, my mental and psychology are not disturbed by any kind of market situation. Of course, everyone has their own way of dealing with the current market situation.
Indeed, everyone has their own way of taking the opportunities into the investment they choose to use, if you think the market will bounce back, it's better to buy Bitcoin and other solid crypto that have a proven usage and already been test by time, it takes longer time frame and huge amount of patience since the market is really unpredictable and if you are not ready better to avoid it first.
But if you already set your plan and you are convinced that the market for your coin will comeback,
it's a best timing to place your entry and wait for the harvest benefits.
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