Topic: Newbies: Don't panic and learn to hold - page 7. (Read 1538 times)

Waiting it out also helps, some newbies cant stop panicking when the market is in downtrend, so it is difficult for them to stay put. Since the price inched towards 21k from 22k USD, the selling pressure is still continuing and might reach 20k as well. If it crosses beyond that, it would be the next chance to buy if you have liquid cash at hand.

The bad thing is that a prolonged bear market will lead to many traders empty of cash to spend. At this time, just wait it out and dont try to acquire money any more by debt which is a vicious cycle.

Very soon the cycle reverses and it is just a matter of who manages to hold out for long.

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

Yea..you are right. There's no need to panic.
if you are holding BTC and you are been tempted to sell because the price keeps going down, resist that urge. This is the wrongest time to sell your valuable asset.
Don't sell now due to panic, you may regret it. Just HODL.

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.

Let me remind you something.
Bitcoin isn't crashing because it's shit or a scam. Bitcoin is crashing because the global situation is shit: high inflation, interest rate hikes, upcoming recession, war in Ukraine, food and fuels going up, supply chains getting disrupted. Bitcoin can't be blamed for any of the above.
There's nothing wrong with the Bitcoin Core blockchain. There's no internal problem inside Bitcoin Core. The problem is outside Bitcoin Core and outside the blockchain.
Of course, many centralized crypto scams are about to crash: Luna crashed, Celsius will crash, others will follow, but this isn't something bad for Bitcoin Core and the blockchain.
It's easy to shit over crypto, when the markets are crashing. Where were you hiding last year, when the price hit a new ATH?

we should learn from the experience that has existed so far, we know that bitcoin has strong fundamentals and it can be said that the current decline is not something that lasts forever and when bitcoin has reached its lowest decline usually bitcoin will rise again, so far many traders beginners who regret their panic by selling cheap prices and of course we can learn to dare to make decisions to buy at low prices and hold for the long term.

HODL will always be the answer during these hard times and importantly for newbies that just started their crypto journey. This will always be the reminder that crypto is very volatile, anything can go from zero or vice versa.  We have been in these situations and the market will recover soon. We just have put lot of patience and trust on bitcoin because we may hit rock bottom and no else where to go but UP!

Well, I'm pretty sure majority can still LIVE without touching your crypto portfolio. Basically, putting your money in crypto while you constantly touching it for your necessities and needs , then I guess that doesn't make any sense as you are decreasing your portfolio and then probably will have a hard time putting them back especially when the price is high.

When, Btc falls further below $20k I'd probably panic, PANIC BUYING Cheap BTC lol.

Big loss investments happen with altcoins, and from what I've seen, newcomers pay less attention to BTC. However, the decline that caused the general situation to deteriorate and panic over losses is not too uncommon in the investment-related markets. Honestly, if you have a good plan and are comfortable with the investment, there should be no problem. However, this market is not for the win-win crowd. I see only a small percentage of people who are satisfied. with existing and ongoing opportunities. However, in my opinion, the lack of control over our ability to engage in something new is the main cause of the volatility. We can talk about the experience, but greed is always on our minds. We and the ways to be happy in this field are also many, but not suitable for everyone.
And over time, every time BTC recovers or rises to a new stage, we will always see news around it. Then it's time for us to be more awake to look back on what we've done. experience. I myself have some skills in this field and BTC is always something that I want to own the most. Over time, the safety as well as the risk from it always gives me peace of mind compared to the rest, but the way to talk about new entrants, we can hope that they will learn more until they are comfortable with what has been going on.

If you can still live without touching your crypto assets during these tough times, then all you need to do is just hold them strong and avoid getting the negative sentiment of the market get through your emotion. These market cycles are normal and is the perfect time to earn some huge gains for the next bull run if you can still accumulate bitcoin and altcoins. Just don't go all-in if you plan to buy some cryptos now as the market sentiment is not clear yet. Many are speculating that we could go lower than $20k at this point.

Correct

Even you're bought at the peak on 2017, you're still earn less profit even though the price only difference around $3K only. I've remembered how the crude oil price crash, the price went negative, that's mean if you want to buy an oil, you're not paying anything but you get both of oil and cash lol. It do make a panic, but I think governments and journalists are more often spread bad news about Bitcoin rather than their commodities.

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

If the past history of bitcoin is anything to go by, then it's only wise to hodl for the long term while investing with money you can afford to lose that won't affect your daily expenses. DCA-ing your investment is a nice way to get the best out of this bear market by buying bitcoin bit-by-bit at different strategic price.

Panicking always result to bad decision on trading so I agree to you on that partbut being feared on the other hand is a different thing especially on the chrrent situation on trading. There is nothing to wrong to be feared on buying right now on crypto since there is a lot of negative fundamentals on the global economy right now.

This thread will be more awesome if you can add the FUD on those years that you mention when Bitcoin experience the same bear market so that we can compare exactly if we are properly comparing it with same dynamics because we are solely using the chart as basis but we are forgetting that the current events never happened before like C.P.I high interest rate.

I took a lesson from the two sell everything my own in the 2018 and 2020 bear markets where it was (in my opinion) the worst drop and I think touching ATH a second time is impossible. And this time it won't happen three times that I can only see the price of btc going up while I don't have even 1 sat in hand.
I agree with @upgrade00's opinion, "sell when you want". Bitcoin didn't exceed $21k from $68k overnight, you should have plenty of time to think about if this scenario were to happen and prepare things so that you don't sell your bitcoins.

Not just newbies? In my experience, it's the semi-long to medium-term holders who're the most prone to panic heh. I can point to 2018 and 2019 to my own experiences. People who held for 2 cycles or more, thinking 20k was it, and "they should have exited at 10k".

Sure, we're still above (barely) 2017 ATH so technically anyone who bought before 2020 is still in profit but I can understand why people feel like they wasted opportunities and may need to wait another 5 years or so, so that's where the panic comes from.

Of course newbies panicking too. Newbies, to me, are those all quoted in the article list. Overnight experts created by the 2020/21 bull.

They're offloading their fear and some of the vets will be lapping it up...

How many times has the price of Bitcoin reached the perceived bottom and how many more times has it rebounded and made new ATHs?

If you've done your due diligence and understand how a certain asset works in different markets, you would understand how it acts after price dumps and pumps. With this, your liquidation point would not be an effect of dips in value, where you will be forced to cut your losses.

I've gone through different Bitcoin cycles and I can predict that Bitcoin would reach another ATH within the next couple of years (3-4 if I'm forced to give a number), especially when you consider that we are more than half way to the next Bitcoin halving.
With this knowledge, I can safely hodl Bitcoin beven though the market tanks and even buy more.

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Buyer's remorse can definitely force investors to panic sell, particularly if they bought at the top and would need lots of price increase for them to break even. Rhat is why how you buy is very important in determining if you can hodl.

Every Bitcoin holder has a selling target like me.
I'm holding Bitcoin and some stocks for a long term but I also have plans into when I will sell all of them. There are some factors that affects my selling strategy like the time frame and the target price. I hope that holders also have a strategy where they will sell it when it happens and don't just hold on for dear life.

Right now TBH, you say that there is no sense to hold until it hits the bottom but there are some who are doing it probably because they don't want to sell at a loss so they will just prefer to hold it. We don't know where the bottom is so better to just hold and wait for the bull market to come which will come maybe in 1-2 years. 4-year cycle .

That's where the decision making of one's investor comes.
What will happen if my investment goes bad? Will I still hold it? Will I accumulate more? Will I make a cut loss and invest when it goes down even lower? US Stock market are in a bear market territory already. S&P500, Nasdaq and DJI are in a bear market zone already and these have correlation with Bitcoin so the bear market has started. I just hope that investors decided already into what they are doing during this bear market.

That is an excellent thought process, and one every investor should be thinking,
at what point do you cut your losses or at what point do you take your profit and re-balance your portfolio to shield yourself from longer market drops.

The market crash has just really begun, smart money is moving into cash and will probably wait a year or more before even thinking of reentry
because this downturn could last for years due to the food & energy inflation.

Only Gamblers hold until they lose it all.
That is the one screaming hodl, no matter if the price is at an ATH or ATL.
While they cry 1 btc=1btc, well 1 turd=1 turd , and no one give a shit.   

 

So just hold till what?... I think safe investing should have a liquidation point. Unless you are really devoted to that stock or cryptocurrency. It makes no sense to hold until price hits the bottom. So the real question we should be asking is at what point do I want to save the investment that I made which is now gone bad?

NB: I'm not saying Bitcoin is going to hit bottom. My post is just really just in relation to general trading/investing strategy, not specifically BTC.