Topic: Newbies: Don't panic and learn to hold - page 8. (Read 1489 times)

If they buy with the money they can afford and the money is not used for anything else, they don't have to feel sad because they can still keep their bitcoins and buy more.
The bearish season has finally hit $22k and there's no clue where the price will go and we can only guess.
So if we can be patient and calm while the crypto market is still volatile, we can see an opportunity to buy bitcoin at a low price.
But if we panic at seeing the price drop drastically, we won't be able to use this moment to our benefit.

Yeah, many people use their main source to invest in Bitcoin, they hope they will earn after few months, but few months isn't enough to enjoy the return of Bitcoin. I'd say at least they need to wait around 4 years at least, the longer you hold the better your return will be.

Well I think if old Bitcoin enthusiast still didn't understand the purpose of hold, I'd say he didn't learn anything in Bitcoin space. Even I didn't directly face the 2017 and 2018 Bitcoin history, I can know how it feel when the price drop drastically. But right now we're face the similar season and anyone should know Bitcoin will recover sooner or later.

This is a hard time expecially for beginners who just bought bitcoin  in the bearish season,  some might have not experience a season like this but they need to keep calm and patient.  If the bearish market can be like this that means the bullish market exists and it is real. It is just a matter of patience and time.

People cant ease their mind with the market selling. Some of my friends too are instead of staying strong are cutting losses. This is a heavy heart to hear at selling at a loss. But we cant blame them. We can only encourage them to hold for their money that they dont need. People tend to sell cause of fear that they will lose it all, yeah its possible unless you sold it right?

Don't even believe there are "experts", when one believes in the concept of expertise in the network, that is when they can even consider following whatever advice their "experts" gives to them; but if you do not believe in that concept, and you understand that every resource is available for you to do your research into the history of Bitcoin, and see the pattern for yourself, then you will most likely make the correct decision more often than not. I am pretty sure users who believe in Bitcoin are not worried by the dump at all. Just invest what you can afford to lose and remember Bitcoin is a long term investment as you hodl.

This call is not just for newbies but this is for everybody. Maybe for old-timers, this is not hard but still, many of them have not appreciated the word HOLD, it is somehow they got influenced by their negativity. In fact, looking back on the surge of panic selling in the last bear season, it can't be possible if we still don't value this thing (hold) this time.

I think this was the time to open up our mind and think about what we can help the market as panic selling never contribute positively but rather seeing negative results. We don't just ask but to encourage everyone to become strong and let this bear season pass worrying about nothing.

People should not panic and sell during this bear time is my advice, we can see institutions like Microstrategy, countries like El Salvador, they are not all selling, they have the long term mind set and it will favour time in the next bull runs.

I will say so too because it is true, bitcoin holders do not have to panic, the market can fall but later it will rise.

That is trading and anyone that is gambling with altcoins, or if someone is ignorant of investment strategy before investing in bitcoin. Bitcoin investors should know that they will recover their losses but it can take one, two or more years.

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.

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.