Topic: No panic while holding my Bitcoin (Read 981 times)
You have correctly done all the things that a new investor should do before starting to invest. First you studied about bitcoin after studying you gained knowledge about risk tolerance in bitcoin investment then you invested in bitcoin, thank you very much for all this because you have shared here the things you have done which will be very useful for newbies. A common mistake that new investors make is to invest in Bitcoin or other platforms without having any knowledge of Bitcoin or investing, so that they panic when the market fluctuates and sell their coins without patience. We must take risk because if we only accept monetary gain then who will take our monetary risk.
Welcome to the board OP @why2why you have done so well by already learning about bitcoin before investing, you didn't made the mistake other investors do, some of them just rush into bitcoin because they heard that Bitcoin pays, this shows that you are ready to learn more about Bitcoin, as you have already invesed few weeks back I hope you have made up your minds planning to "Hold On for Dear Life,” (HODL) this is one of the easiest way to accumulate more coins as we are already waiting for the bullish period.
As long as we understand how this crypto investment works, there is nothing to worried about, and even though it takes several years of waiting, certainly we can still do it very well. And this is the reason why many investors can afford to control their emotions and are willing to hold because they believe that they won't get disappointed and even rewarded more. If our goal is to earn a profit, then, what we gonna do to keep strong and focus on our goal, not on the negative things happens around because will affect our mindset and brought us to the wrong direction.
You bought a Bitcoin or just a satoshi?, if that's so you bought a bitcoin I guess its ideal if you invest too with the security you can buy bitcoin i guess its a good layer of security too that you can buy a hardware wallet so you can store those bitcoins in a safe wallet and not just in the exchange, also another thing is secure your device too its useless if your prone and your seed is just in your desktop so they can use your wallet easily and stole your assets. By the way welcome to the community. Try to make an investment plan with your bitcoin we know the bull run is coming whats your next plan sell for the next pump or keep holding and sell for the another ATH.
Welcome to the board OP @why2why you have done so well by already learning about bitcoin before investing, you didn't made the mistake other investors do, some of them just rush into bitcoin because they heard that Bitcoin pays, this shows that you are ready to learn more about Bitcoin, as you have already invesed few weeks back I hope you have made up your minds planning to "Hold On for Dear Life,” (HODL) this is one of the easiest way to accumulate more coins as we are already waiting for the bullish period.
First of all, welcome to forum and I have to say that you chose a very good time to buy your first bitcoin.
This is very well understood, because the is no specific time that the profits will come, but since soon is a term that is graciously used by crypto projects dues to timing volatility and uncertainty pf the reality in Bitcoin price, the necessity have prompt us to use soon as a term that means uncertain inaccurate of the timing that that will happen. Pardon me on that statement Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.
Regarding this "I will be in the profit very soon" part, that doesn't have to necesasarily be true as it may be even years before bitcoin goes back to the levels where you bought it so you should be be prepared for that scenario as well. Having said that, since you bought your first bitcoin much cheaper than ATH price was, chances are that you won't have to wait for years to be in profit. Hello everyone, i just want to share my thought here as a newbie, i bought my first bitcoin two weeks back, after spending the first month studying and reading everything as relate to Bitcoin, the time spent on learning and gathering knowledge have started to pay off for me during this period were the price of bitcoin have nosedive greatly.
Let me explain what i mean in details.
First before i bought my first bitcoin, i first of all build a good understand of the market and how bitcoin volatility works, and also learned about the effect of external forces in determining the price of Bitcoin such as exchange crisis and other governmental policies that can have short time effect on bitcoin.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.
Let me explain what i mean in details.
First before i bought my first bitcoin, i first of all build a good understand of the market and how bitcoin volatility works, and also learned about the effect of external forces in determining the price of Bitcoin such as exchange crisis and other governmental policies that can have short time effect on bitcoin.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.
That’s a great attitude and mindset that you already acknowledged the risks and unpredictable volatility of it before getting into Bitcoin.
I assume that it’s just your extra money to buy BTC. However, if you can afford to put some extra you may also do DCA (dollar-cost averaging) on Bitcoin. It’s a long term strategy that most of the BTC bulls are doing these days in preparation for next year’s Bitcoin halving.
All that remains in this case is to hope that the price will rise again. Bitcoin is now at a good level, but we cannot be sure that the bear market is already over, corrections are possible, but holders have gone through such stages many times, the most important thing at such moments is not to rush to sell, exclude sales at a loss and wait for the bull market. The hold is not a quick process, only those who are patient will be able to profit.
The bear market has yet been over but fortunately we are in very last months of the bear market. There possibluly is some crashes to test bottom and kill weak hands but I assume the bottom was touched and no lower bottom than $16,000.Corrections, bear market always give us chances to take but mostly we reject those opportunities because when we are in the market in such periods, we react similarly to the crowd, be fearful and panic. Instead of having strong hands to hold tightly or accumulate more bitcoins with discount price, we either panic sell or be fearful and don't accumulate.
Good stuff op. So many crypto investors don't properly do their research and end up blaming BTC and other cryptocurrencies for their losses when the truth is that they are the ones who are actually at fault.
some do their research but their capacity to understand and deal with it is not enough for them to successfully make money here while some blame the BTC others blame their mentors as they try to believe completely when they dont have to.
Actually, that method is really correct, if you know that we are in a bear market and you know what to do, there is no reason to worry, it is good manners to stay calm. Because if you send in anxiety it will push you to sell the asset you are holding at a loss. Which should not be the plan.
However, if you don't affect the negative impact of the market, even if the value of the coins you hold increases a lot, as long as you don't sell them, you can't say it's a loss or a waste of your investment. Because of course there is still the chance that you know its value will increase in the future, as long as you are firm in holding onto it.
However, if you don't affect the negative impact of the market, even if the value of the coins you hold increases a lot, as long as you don't sell them, you can't say it's a loss or a waste of your investment. Because of course there is still the chance that you know its value will increase in the future, as long as you are firm in holding onto it.
All that remains in this case is to hope that the price will rise again. Bitcoin is now at a good level, but we cannot be sure that the bear market is already over, corrections are possible, but holders have gone through such stages many times, the most important thing at such moments is not to rush to sell, exclude sales at a loss and wait for the bull market. The hold is not a quick process, only those who are patient will be able to profit.
Actually, that method is really correct, if you know that we are in a bear market and you know what to do, there is no reason to worry, it is good manners to stay calm. Because if you send in anxiety it will push you to sell the asset you are holding at a loss. Which should not be the plan.
However, if you don't affect the negative impact of the market, even if the value of the coins you hold increases a lot, as long as you don't sell them, you can't say it's a loss or a waste of your investment. Because of course there is still the chance that you know its value will increase in the future, as long as you are firm in holding onto it.
However, if you don't affect the negative impact of the market, even if the value of the coins you hold increases a lot, as long as you don't sell them, you can't say it's a loss or a waste of your investment. Because of course there is still the chance that you know its value will increase in the future, as long as you are firm in holding onto it.
All that remains in this case is to hope that the price will rise again. Bitcoin is now at a good level, but we cannot be sure that the bear market is already over, corrections are possible, but holders have gone through such stages many times, the most important thing at such moments is not to rush to sell, exclude sales at a loss and wait for the bull market. The hold is not a quick process, only those who are patient will be able to profit.
There are few people who first of all learn about their investments and different risks linked to it and how they can tackle it so you are having good approach towards it that will help you to avoid panic selling in the future.Most new investors blindly invest seeing price pumps ignoring volatility factor so when price goes down they start selling immediately without having nerve to hold because they don't understand about its working.So this is good approach before investment learn about it.
Maybe such people should first study carefully and in more detail what is associated with investment risks? And only then start this process. There is an assumption that the factor of greed here plays a very important role. There is a desire to quickly earn easy money. There is nothing surprising. Personally, I stopped paying attention to how people strive for instant enrichment, forgetting about such important aspects as risks. 
Good stuff op. So many crypto investors don't properly do their research and end up blaming BTC and other cryptocurrencies for their losses when the truth is that they are the ones who are actually at fault.
HODLING BTC in the long-term is always extremely difficult for most investors which is why you should be prepared to invest only what you are willing to lose.
HODLING BTC in the long-term is always extremely difficult for most investors which is why you should be prepared to invest only what you are willing to lose.
Hello everyone, i just want to share my thought here as a newbie, i bought my first bitcoin two weeks back, after spending the first month studying and reading everything as relate to Bitcoin, the time spent on learning and gathering knowledge have started to pay off for me during this period were the price of bitcoin have nosedive greatly.
Let me explain what i mean in details.
First before i bought my first bitcoin, i first of all build a good understand of the market and how bitcoin volatility works, and also learned about the effect of external forces in determining the price of Bitcoin such as exchange crisis and other governmental policies that can have short time effect on bitcoin.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.
If you succeed to Bought and now keeping your coins confidently , then Congratulations in advance because the day is coming very soon for you to earn and will surely trust bitcoin more in the future.Let me explain what i mean in details.
First before i bought my first bitcoin, i first of all build a good understand of the market and how bitcoin volatility works, and also learned about the effect of external forces in determining the price of Bitcoin such as exchange crisis and other governmental policies that can have short time effect on bitcoin.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.
and also thanks for the advises because this will bring you better knowledge and also will help your co Newbies to subject and enter bitcoin investing .
please continue to present this kind and will be looking in your updates.
There are few people who first of all learn about their investments and different risks linked to it and how they can tackle it so you are having good approach towards it that will help you to avoid panic selling in the future.Most new investors blindly invest seeing price pumps ignoring volatility factor so when price goes down they start selling immediately without having nerve to hold because they don't understand about its working.So this is good approach before investment learn about it.
The main thing is to want to learn before doing any form of investment, including crypto. Because all investments are certain to be full of risks, it is very important to prepare in advance with the correct knowledge.because with the knowledge we have, we will avoid what you say is "blindly investing when a correction occurs" so that the actions taken end up being irrational to sell it immediately, feeling it is an action to reduce losses, even though it is not necessarily the right answer, but there are other solutions that may be better.
Avoiding panic situations and not taking hasty actions but being willing to hold on until the bull market comes is actually the best.Once again, it is unavoidable that wanting to keep learning is the main solution that needs to be done for beginners. With that, the feeling of panic and hasty actions can be avoided.
There are few people who first of all learn about their investments and different risks linked to it and how they can tackle it so you are having good approach towards it that will help you to avoid panic selling in the future.Most new investors blindly invest seeing price pumps ignoring volatility factor so when price goes down they start selling immediately without having nerve to hold because they don't understand about its working.So this is good approach before investment learn about it.
knowledge is so important, we need to keep learn in our whole life. I am glad that you invest in correct time, halving time is near. better we buy bitcoin as much as we can now before many more people also do the same thing. I think there are only few months left until bullish market happen. for normal citizens who only have fixed salary every month, time is so important because we don't have a lot spare money unlike big investors who can influence bitcoin price once they get involved in it.
Investing before the halving date is a good decision because it prepares you for the profits that you'll make in the future, after investing in Bitcoin you have to be willing to hold until you make profits because the market is very unpredicted but that doesn't mean it isn't profitable.
For investors that have monthly salary, the best way to invest is to buy Bitcoin in small quantity at month-end when you get paid your salary. Don't invest all your money as that'll make you anxious of your investment but when you invest by DCA you won't be scared of the market dipping.
When you buy through DCA you won't panic while holding, holding will become a little bit easier also because you'll be anticipating buying more Bitcoin at month end with some part of your salary that you'll be paid instead of been scared, you'll be happy the market is dumping.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This is very easy to say but when the time comes, it could be very different. It's not easy to control your emotions well enough when the price of Bitcoin just keeps going down. Your investment would be depreciating right in front of you and there's nothing you'll be able to do about it. It takes a lot for you to be calm amid all that chaos. In times like this, you have to remember that the price will still rise.
The price will rise doesn't mean it would be in the near future like you said. It could take longer than expected before Bitcoin goes back to the original price it was before that particular deep. So it will do you more harm to have a particular time in mind because you might be disappointed.
knowledge is so important, we need to keep learn in our whole life. I am glad that you invest in correct time, halving time is near. better we buy bitcoin as much as we can now before many more people also do the same thing. I think there are only few months left until bullish market happen. for normal citizens who only have fixed salary every month, time is so important because we don't have a lot spare money unlike big investors who can influence bitcoin price once they get involved in it.
You achieve great knowledge in short period of time but one cannot says that he get the complete knowledge because learning never ends, you will identify new things as you go through your journey of success.
You should hold bitcoin and if you think that during halving you have maximum profit then I will suggest to sell your bitcoin that time because there is no guarantee that how long Bull season will persists so take the profit at perfect timing.
It also sounds good that you don't panic when the price drops so this feature will make you successful person if you follow all these steps because some people forget when they comes to reality.
You should hold bitcoin and if you think that during halving you have maximum profit then I will suggest to sell your bitcoin that time because there is no guarantee that how long Bull season will persists so take the profit at perfect timing.
It also sounds good that you don't panic when the price drops so this feature will make you successful person if you follow all these steps because some people forget when they comes to reality.
A stalwart of the financial world has become a bitcoin holder with resilience amid market volatility and uncertainty. The best course of action is to be patient and hold Bitcoin as a digital currency, resisting the temptation to panic as the market fluctuates. Currently the best opportunity to buy bitcoins. Through the ups and downs, keep faith in the future good of cryptocurrencies and wait for the potential of the Bitcoin revolution.
When it comes to Bitcoin, knowledge is what you need first as a beginner, before you go into Bitcoin you have to learn how the system works and understand it very well. The problem with us newbies is that we are in a haste to make a profit without knowing the do and don't in this asset.
With my little understanding I see Bitcoin as a long-term investment, and for you to be successful in bitcoin you have to hold and forget, despite that the price has not been very friendly in terms of profit, the fair of the unknown may arise at this point but holding is the best option in other to achieve the long-term purpose.
With my little understanding I see Bitcoin as a long-term investment, and for you to be successful in bitcoin you have to hold and forget, despite that the price has not been very friendly in terms of profit, the fair of the unknown may arise at this point but holding is the best option in other to achieve the long-term purpose.
That is the right and wise opinion from you. That's right, BTC investment is a classy investment because need to be patience and long-term hold. I have also heard many of my seniors who are experts in BTC trading say the same thing. Exactly as you have said too. It's just that tips and tricks don't get everything in terms of trading (easy way to trade BTC without pressure)
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