Newbies: Don't panic and learn to hold - page 5.

jossiel

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Quote from: breathlessz on June 16, 2022, 07:48:18 AM

Quote from: jossiel on June 16, 2022, 06:48:47 AM

Those new comers that have experienced the bear market already are in advantage. Because this will not be the last time that this bear market will exist.

In the future, when they've got several experiences about all the market changes and behaviors, when it comes again then it will be an easy thing to adopt for them.

Just like us, they'll feel that it's going to be just as nothing as what we see today because we've been there and it's pretty normal to have it. So, in the end they'll just chill and get used to it.

For those who already understand the behavior of the market, I think it will be different to respond to a bear market as it is today with those who are new to bitcoin. we can say don't panic, but for beginners, I think they will feel worried because the value of assets continues to decline, and this is human, and with continuous learning, over time it will form by itself psychologically stable, because they already have previous experience

It's normal for them to feel worried and panicked. That's because the market on this situation will totally give them anxiety and uncertainty.

That's okay to tell them that they shouldn't worry at all if they trust your words and you've experienced the first bear markets. Those words of yours will encourage them and will give them a sign of relief based on your experience.

It'll make them grow as they already have the guidance of someone who has experienced it before.

DoublerHunter

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Quote from: AmoreJaz on June 17, 2022, 05:01:18 PM

Quote from: Davidvictorson on June 17, 2022, 04:49:54 PM

Avoid the news if you can. This is will help to reduce the amount of FUD you are exposed to. Everyone who holds strong is soon going to be smiling because the price of Bitcoin is going to be valuable enough to generating good ROI. Hodling for every newbie is just like starting a workout routine. At first it seems very difficult but then as you do it consistently, you would begin to see the reward. Just hodl.

Here's a picture to make the vision clearer
-

the above picture is very true. people thought when you hodl, it is like smooth sailing. but for those who really did experience of hodling long time, the experience of them is what the second picture depicts. for sure, those who are holding their btc long time have experienced all kinds of emotions already. and that will make you believe that this market has future. i guess, each one of us has experienced an agitated mode at some point of our hodling here. and that for me, is very normal emotion.

^ For me, I did not make things more complicated when it comes to HODL.
We can set a goal when we take our profit out because holding BTC is not all the time there is a bull market. Every time when the market was down, I usually never look at the market to avoid attempting to sell my BTC. Because the more you look at it, the more your emotions trigger and make a panic sell decision. Just always think about the reward in the future.

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Quote from: Davidvictorson on June 17, 2022, 04:49:54 PM

Avoid the news if you can. This is will help to reduce the amount of FUD you are exposed to. Everyone who holds strong is soon going to be smiling because the price of Bitcoin is going to be valuable enough to generating good ROI. Hodling for every newbie is just like starting a workout routine. At first it seems very difficult but then as you do it consistently, you would begin to see the reward. Just hodl.

Here's a picture to make the vision clearer
-

the above picture is very true. people thought when you hodl, it is like smooth sailing. but for those who really did experience of hodling long time, the experience of them is what the second picture depicts. for sure, those who are holding their btc long time have experienced all kinds of emotions already. and that will make you believe that this market has future. i guess, each one of us has experienced an agitated mode at some point of our hodling here. and that for me, is very normal emotion.

Viscore

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Quote from: Apocollapse on June 13, 2022, 05:36:46 AM

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.

In this very bearish market, newbies are mostly seen losing because they cannot hold their emotions anymore and have become compulsive seeing they're not going to make it in this bear market. So they resort into selling their coins at a very low price, which leaves them become poorer and make the whales richer in their hodlings. When in fact, newbies should have more patience because that is the best key not to lose in a such unpredictable market. And they should always realize that crypto do not give instant profits since they are mostly for long term investments, so they must learn not to panic and hold.

Davidvictorson

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Avoid the news if you can. This is will help to reduce the amount of FUD you are exposed to. Everyone who holds strong is soon going to be smiling because the price of Bitcoin is going to be valuable enough to generating good ROI. Hodling for every newbie is just like starting a workout routine. At first it seems very difficult but then as you do it consistently, you would begin to see the reward. Just hodl.

Here's a picture to make the vision clearer

Image source: https://www.reddit.com/r/CryptoMarkets/comments/l3f2n9/expectation_vs_reality_of_what_its_like_to_hodl/

Issa56

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Quote from: worle1bm on June 16, 2022, 10:45:10 PM

The reason behind this panic is they feel bitcoin is get rich quick scheme and invest their savings into it in hope of getting fast profits but on the contrary when it start falling they can't analyse the market that it's normal and it will grow in the long and panic sell off during these times.So they eventually loose at this time but main is to control your emotions and invest what you afford to loose in the market.

I think most newbies dont really understand what cryptocurrency is all about before they join, they just hear about people making money through bitcon and cryptocurrency and they also believe they can invest and make money quickly and easily, they don't know the risk associated with it, that's why whenever they see their money reduce they always panic and sell. I believe before anybody to invest in bitcoin, they should all understand what it's all about, they should know they can lose their money, they shouldn't just tell them about profits alone.

wxa7115

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Quote from: Upgrade00 on June 13, 2022, 05:49:12 AM

My idea is a Bitcoin holder does not need to panic if they had an investment plan when getting in.

What pushes one to panic sell or cut their losses is when they invested more that they can afford to lose and with the current drop they saw their savings getting wiped out on the charts.
Buying smartly means that one invests spare money and at a controlled period of time; if the market dips, it does not affect you much as you have enough to foot your daily expenses. You basically sell when you want.

Those who fomo in at the top and end up selling off 4 months later already made mistakes from the beginning and no doubt would still have to sell as they need the money.

Without a doubt someone the came to this market with a well defined plan and strategy has nothing to be afraid, despite the huge drop that we are seeing in the price at the moment.

However the problem is that a great deal of the people that have entered the market recently do not really have a plan, so right now they are desperate about the losses they are currently incurring, and the more time bitcoin remains at such a low price the greater the odds they will capitulate and sell their coins for a loss.

Sanitough

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Quote from: Apocollapse on June 13, 2022, 05:36:46 AM

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.

How would newbies still able to manage if bitcoin price even drops into $10k below? I guess they will probably think that crypto is certainly over and that there's no way it will recover. Then they will panic more, much more than we thought. And this is all because they enter the market without good preparation and good understanding on the market as well. They never realize that bitcoin is a long term investment and that price fluctuations should not bother them personally as they would not also be selling in times of losses. Instead, they should stay patient and focus on long term hodling as it would be the best key for now to avoid huge loss.

Ale88

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Quote from: Upgrade00 on June 13, 2022, 05:49:12 AM

My idea is a Bitcoin holder does not need to panic if they had an investment plan when getting in.

That's absolutely right but you're forgetting one, very important, point: many people buy just because they think it'll keep going up, they don't actually have a plan nor they know how this market works, otherwise we wouldn't have so many people losing money.

suzanne5223

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Quote from: Apocollapse on June 13, 2022, 05:36:46 AM

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.

This thread also serves as a reminder for a high-ranked member of the forum because there is some high-rank member who still can't deal with their emotion when it total bear market.

Quote from: Lubcub62 on June 16, 2022, 10:15:41 PM

I myself am still very difficult to eliminate or suppress panic. Even though I've been trading crypto for quite a while, sometimes patience and greed and panic always appear and overwhelm me.

This happened because you don't choose to make peace with the trend that the market presented because if you do you'll only look for a way to make a profit out of the trend the market poses instead of panic.

Quote from: Lubcub62 on June 16, 2022, 10:15:41 PM

However, the panic started when I used to trust influencers who provoked hype more and I was consumed by the hype and bought at the top. then when the price drops drastically. panic is unavoidable.

Cryptocurrency investment advice is to always dyor and if you follow most statements made by influencers you'll understand that they are only doing a marketing job which is either to increase the price of the coin they invested in or it a paid advertisement.

Quote from: Lubcub62 on June 16, 2022, 10:15:41 PM

but here I prefer to analyze myself and collect news that can be trusted

These days no news is worth trusting because article writers also spicy up news and the best thing for you is to understand how 4years cycles of crypto work, how to select the right coin, and how to know good and exit points.

Mr.sprin

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If the market situation is like this, it's not only beginners who panic but those who have often held it and they also panic, those who don't hold coins, can say, don't panic, but for those who have current assets, most panic, especially beginners who are just starting to invest instead. increasingly panicked by the falling market.

joele

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Bear months and probably the floor price, next bull I expect at >$150k

SpenserReed

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Quote from: Apocollapse on June 13, 2022, 05:36:46 AM

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.

Don't you think it might just be a new 90-95-99% record? Anything can be the first time... Huh

kryptqnick

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Prior to 2017-2018, there was another major event which is just so tiny on the chart because of how much the price grew that it's hard to notice it if you don't know what to look for. In November 2013, the price was $1127, and then by April is fell to $360, and by January 2015 to $172. Next time it hit $1k was in January 2017. So of course it seemed like the good days were behind, and that Bitcoin might never hit $1k again. But boy oh boy people were wrong about that. I'm pretty sure those who are currently afraid Bitcoin won't recover and won't hit a new ATH are wrong as well. But the question remains how much time it will take. It can be a few months, can be a few years. I hope it's the former, but we should be prepared for the latter as well.

jayoh

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HODL gets harder and harder as the price drops, but I can assure you it's still the best route if you believe in BTC long term.

Rockstarguy

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Quote from: traderethereum on June 17, 2022, 04:38:41 AM

If they think that bitcoin is a get-rich-quick scheme, they are wrong because the price can change quickly without us knowing where it is going.
If they are not ready for the price swings, they can get stuck in the high price and have to wait until the price can reverse direction or even go higher.

That is what some people think about bitcoin, that it can get them rich in a short space of time . They don't care to know the volatility nature of bitcoin, that the price can change drastically without any signal.

Quote

Only people who are prepared for everything that will happen with bitcoin can take advantage of the opportunity to buy or sell bitcoins and earn something from bitcoins, while others will be at a loss if they sell their bitcoins.
They really need to learn about investing with only the money they can afford to lose so they don't take a huge risk out of the investment.

Before anyone will make up his/her mind to buy bitcoin, the person need to understand how bitcoin works that it only takes patience to benefit from bitcoin profits.

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Quote from: Apocollapse on June 13, 2022, 05:36:46 AM

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.

I have always said this here on the forum, people claiming to know what the price of bitcoin will be in the next few days, months or even years are nothing but guess, there is absolutely no correct prediction of the price of bitcoin or any other crypto asset anywhere, people only guess and hope it turn out the way they guessed it so that they can shout and scream "you see!, i told you so", and its unfortunate that newbies will never stop falling for all this price prediction scam, but as it is right now, it is imperative that we that have been here for long should never stop educating the new comers, this is one of the reasons why this forum was developed, to educate as many that are willing to learn.

People should learn to invest with a long term prospective in mind, and those who wish or want to earn money from crypto in short term bases should go into day trading, or even do both like while investing with long term in mind, you learn to trade by the side for short term profit if you have the time are required tools.

hZti

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I thin what many people need to understand in regards to the volatility is that we are at a very early stage of bitcoin as a currency. The market volume is very low and there is only a few years of data to see where the price is going. So no you can not compare it to you everyday fiat currency.

evichi

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Bitcoin, just like every other crypto currency, is naturally volatile due to forces of supply and demand. Sometimes, as we are witnessing now, the prices goes down to such a low value to people begin to panic. One of the reasons for the price going down may be as a result of (according to Forbes) the US Federal Reserve, which is planning to raise interest rates this year to combat levels of inflation unseen in the U.S. for four decades (https://www.forbes.com/advisor/investing/why-is-bitcoins-price-falling/). But as many investors continue to invest and understand hoe Bitcoin works, it is also an opportunity for inventors to buy more, and HODLers to hold more tight, because, most often the price will eventually go up, as it has always done. So, this is time for investors to HODL.

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Quote from: Nrcewker on June 17, 2022, 04:30:04 AM

Quote from: Cryptodebjoe on June 14, 2022, 12:13:02 PM

We're still in a good place compared to 2020 ATH which was in November 20th 2020... All newbies are to hoddle up because the future will be bright to those that hang on

Also I see many have forgot about the dump that happened in 2018, where suddenly from 20k usd Bitcoins suddenly fell to 3k usd.
But guess what after that BTC jumped back stronger and created history by reaching 60k usd.

If we consider from the moment when bitcoin cost $3k, then by the time of $60k it brought 20 times more profit. People evaluate the current price by high indicators, while forgetting about past lows. Relative to them, even the current price still looks very good.

Quote from: Nrcewker on June 17, 2022, 04:30:04 AM

So all the newbies are hence requested not to panic.
If you have shown some trust and bought some Bitcoins with your hard earned money, then give some time to it.
Just don’t panic and don’t sell your coins to the cruel buyers.
Instead if possible buy as much Bitcoins as you can in this bearish market.
Once Bitcoins start rising, it won’t stop. Mark my words.

In these times of fear and panic, newbies need to keep your emotions under control and listen to the opinions of already experienced people who have seen this fall of the cryptomarket not for the first time. Those beginners who follow your advice will be able to keep their savings.

Topic: Newbies: Don't panic and learn to hold - page 5. (Read 1538 times)