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.
Topic: No panic while holding my Bitcoin - page 2. (Read 982 times)
Only those without adequate knowledge will panic at this point and as the ops stated, I think he would have built adequate knowledge that will help in making the right decision at the right time and also eliminate panic from the mind and this is why we constantly advice newbie to first of all build knowledge first before anything to be able to stand against any market obstacles that may arise along the way.
The most important lesson is to have long-term investment goals that way you are kept away from the daily price movement and less funds.
The most important lesson is to have long-term investment goals that way you are kept away from the daily price movement and less funds.
One of the reasons they can handle the heat when the crypto market is not looking good is their multiple sources of income or they just invested the money they afford to lose or others used the money that is supposed to buy things that came from their bad habits for example alcohol and cigarettes, and when they see the price has decreased dramatically, they remained calm because they have nothing to lose and they will just keep buying at the low price so that they can maximize their potential income in the upcoming years without worrying too much. This is a good thing to do rather than sold your house to buy bitcoins and live in a tent for a year.
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.
I never panic in any way while holding Bitcoin because I am a firm believer in Bitcoin. I believe in Bitcoin, and believe that it will benefit me one day. If I ever panic while holding bitcoins my holdings can be disrupted. And all my money could be lost. So I keep holding bitcoins with my mind set. And I put my full faith in Bitcoin. In this I will one day achieve great success.
what you do is of course the right thing, because before buying btc you do research and add insight in advance about investing in btc, and this is what you have to do when you want to invest in btc.
because if you want to invest in BTC, you have to do research and seek knowledge about investing in BTC first, so you don't have the potential to get huge losses.
I think you did the right thing, so congrats on your first bitcoin purchase.
because if you want to invest in BTC, you have to do research and seek knowledge about investing in BTC first, so you don't have the potential to get huge losses.
I think you did the right thing, so congrats on your first bitcoin purchase.
It depends what you mean by "actually study it": bitcoin's purpose is pretty easy and straight forwarding to understand, and you don't need to be a financial expert or have some sort of financial degree to realize that countries keep printing money out of nothing, so inflation will be worse and worse every year. If you get those two points you are ready to buy bitcoin. Then you can go deeper on all the other related topics, especially the more technical ones, but in my opinion you don't need to know everything about bitcoin in order to buy it.
Well there are just those really enthusiastic individuals that tend to dive deeper. People that love to engineer software would probably dig in deeper in technical aspects of Bitcoin which is not yet in my level since it is way too advanced for me. 
What I don't like are those gatekeepers that tell people that they should learn everything in Bitcoin, just to be able to call themselves "tRuE invEstoR". I could even make a meme around that if I have to.
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.
You did good learning but it is not enough. Purely reading and learning can not help you understand it entirely. You must be in the market to digest such knowledge and feel about it. With your experience, you will know such knowledge is right or wrong.Sure i agree with you, experience will be the reason you can understand this bitcoin or crypto currency sphere, but i do not say that you do not need to learning textual knowledge of bitcoin. You can also get experience from some one else, for example you start trading bitcoin with guidance from your friend who is already mastered on trading bitcoin. Then you can take his experience how he will do if bitcoin price is drop, when he will cut lose and when he will keep holding.
Knowledge is undoubtedly necessary, but experience is what helps us to survive in this market because there is always a big gap between knowledge and experience. many newbies to the market also work hard to learn everything, learn about the history of bitcoin as well as gain confidence in themselves through other people's stories about the market. but when they themselves are faced with a market downturn and their money is rapidly dwindling, their knowledge can hardly help them in that situation if they lack experience.
OP you ain't seen nothing yet, if your aim is to make profits soon you could be wrong, every bitcoin investors must be willing to hold for the long term because the market situation in coming months is unknown, if the unexpected happens are you going to give up your Bitcoin? How determined you are is what will lead you through the hardest and harshest of time while holding Bitcoin, believe when I said that the unexpected, if you are the panic type you shouldn't have invested at all.
Hodling and at the same time trying to predict when to get profits is a bad investment and it always end up with no positive results. The best way to invest Bitcoin is to hodl without having any plan to predict when to get profit, having a specific time to make profit can cause one to sell at lose. Hodling Bitcoin requires discipline and understanding, if one is not discipline it cannot be possible for hodling to take place and if one does not understand bitcoin their will be much of panic and doubt about the market. People who still get panic while investing in Bitcoin shouldn't force themselves to invest because the market will always fall and rise. 
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.
You did good learning but it is not enough. Purely reading and learning can not help you understand it entirely. You must be in the market to digest such knowledge and feel about it. With your experience, you will know such knowledge is right or wrong.Sure i agree with you, experience will be the reason you can understand this bitcoin or crypto currency sphere, but i do not say that you do not need to learning textual knowledge of bitcoin. You can also get experience from some one else, for example you start trading bitcoin with guidance from your friend who is already mastered on trading bitcoin. Then you can take his experience how he will do if bitcoin price is drop, when he will cut lose and when he will keep holding.
Knowledge is undoubtedly necessary, but experience is what helps us to survive in this market because there is always a big gap between knowledge and experience. many newbies to the market also work hard to learn everything, learn about the history of bitcoin as well as gain confidence in themselves through other people's stories about the market. but when they themselves are faced with a market downturn and their money is rapidly dwindling, their knowledge can hardly help them in that situation if they lack experience.
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.
You did good learning but it is not enough. Purely reading and learning can not help you understand it entirely. You must be in the market to digest such knowledge and feel about it. With your experience, you will know such knowledge is right or wrong.Sure i agree with you, experience will be the reason you can understand this bitcoin or crypto currency sphere, but i do not say that you do not need to learning textual knowledge of bitcoin. You can also get experience from some one else, for example you start trading bitcoin with guidance from your friend who is already mastered on trading bitcoin. Then you can take his experience how he will do if bitcoin price is drop, when he will cut lose and when he will keep holding.
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.
You did the right way, learning first before investing in Bitcoin is a must. You must be panic if you have no knowledge about the market nature, how BTC price history, how the FUDs attack, and how the potential of BTC price growth. The crisis or economic issue is just a common matter in crypto, it may influence the price temporarily but won't have a serious impact for the long term. As long as you invest for a long term, you don't be afraid for the profits. In the next 1-2 years, we will have BTC halving and probably bullrun time. You must know this if you already learn about 4 years cycle of BTC price move. So, it is lucky that you learn first and you are not panic at the moment.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 hard to learn if you're new to this market, not to panic at times when the bad news has been deployed and everyone is getting crazy all over it. But that's nice that it's one of the first things you've learned because it will help you survive in this market for a long time if you're not a panicking person.
Never panic yourself when holding bitcoins. Every investment involves risk.
And for new investors, they need to learn first what they're up to upon buying Bitcoin. Not after they buy, that's the time that they'll assess if they can keep up with the risk that they've already taken. It's not useful to panic at most times but there can be some few times of our lives where panicking is good but it should be the other way for which you're panic buying when the drop comes. OP you ain't seen nothing yet, if your aim is to make profits soon you could be wrong, every bitcoin investors must be willing to hold for the long term because the market situation in coming months is unknown, if the unexpected happens are you going to give up your Bitcoin? How determined you are is what will lead you through the hardest and harshest of time while holding Bitcoin, believe when I said that the unexpected, if you are the panic type you shouldn't have invested at all.
I think he would known all this fuzz about bitcoin investment before going into it. Because if there is one thing I know about bitcoin investment is that it has to do with patience and strong will, bitcoin is a volatile asset and so has the ability to fluctuate and this fluctuations is what makes every low faith investor panic. Holding strong no matter the situation is actually the successful key to having and actually securing possible profit to your bitcoin portfolio and if you are too chicken to see the market dip then swap to a short tern trader and accumulate by every times the market favours you but just be sure not to have an heart attack doing that. 
OP you ain't seen nothing yet, if your aim is to make profits soon you could be wrong, every bitcoin investors must be willing to hold for the long term because the market situation in coming months is unknown, if the unexpected happens are you going to give up your Bitcoin? How determined you are is what will lead you through the hardest and harshest of time while holding Bitcoin, believe when I said that the unexpected, if you are the panic type you shouldn't have invested at all.
Never panic yourself when holding bitcoins. Every investment involves risk. The price of Bitcoin can go down at any time, and it can go up again at any time. You will never be alarmed by these price fluctuations. You will continue to hold your Bitcoins. Because remember, the value of Bitcoin is never fixed. If the value of Bitcoin falls now, then the value of Bitcoin will rise again. You have to believe in it. There are some people who easily panic when they see the price of Bitcoin falling. They think that its value will fall further and immediately close their holdings. You never do that. You believe in Bitcoin. Don't panic and keep holding. This will make you rich.
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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.
I must say, I admire your courage for purchasing BTC before you actually studied it. Normally. potential investors would first study and research the market before they commit to an investment. Though the price of BTC has went down and somehow stabilized, this should not discourage anyone from attempting to invest in this space due to its sheer potential in the future.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.
Are you trying to emphasize that buying bitcoin is to fight inflation and it's a good store of value to help us fight inflation? What if a person doesn't know too much about bitcoin and buys bitcoin for $69k? Will it still be an inflation hedge since even bitcoin was hit hard when inflation peaked in 2022?
If we want to invest in bitcoin, we need to know everything about bitcoin, there is no way that investing in bitcoin will yield good results without knowing too much about it. Bitcoin is very risky because of its volatility, if you don't have complete knowledge about it, how can you deal with its volatility?
Buying Bitcoin at its peak- say $69k - could be a risky ride, given its price swings. It's a solid rebuttal to Bitcoin as an unshakeable inflation fortress.
A broad grasp of Bitcoin, not just its anti-inflation prowess, but the tech, trends, and pitfalls, empowers wise investment. A sprinkle of realism and a dash of caution is the recipe for Bitcoin success.
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.
Not only panic behavior but you have to control your emotions like FOMO buying, FUD and many more.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.
You said that after crisis period Bitcoin will increase again and I agree with you but it can't be a good investment if you need to hold it for the whole bear season. I mean you invested at the bull season and now holding it for the next bull season. Your confidence should depend on your investment accuracy and analysis. Anyway best wishes for your recent invest. I hope you have done a potential investment as we are possibly going in a bull season.
Are you trying to emphasize that buying bitcoin is to fight inflation and it's a good store of value to help us fight inflation? What if a person doesn't know too much about bitcoin and buys bitcoin for $69k? Will it still be an inflation hedge since even bitcoin was hit hard when inflation peaked in 2022?
If we want to invest in bitcoin, we need to know everything about bitcoin, there is no way that investing in bitcoin will yield good results without knowing too much about it. Bitcoin is very risky because of its volatility, if you don't have complete knowledge about it, how can you deal with its volatility?
If we want to invest in bitcoin, we need to know everything about bitcoin, there is no way that investing in bitcoin will yield good results without knowing too much about it. Bitcoin is very risky because of its volatility, if you don't have complete knowledge about it, how can you deal with its volatility?
The bitcoin price always impact the inflation in the world economy.When the person had brought the bitcoin at the value of 69k the all time high value.Then he need to hold their bitcoin till the new ATH was reached in the bitcoin price.The price instability causes bitcoin as more demand assets.The trader should wait till the next expected pump of 2024.Old traders holding their money in the bitcoin for the next profitable period.Risking is essential one to achieve in the crypto currency.
If we want to invest in bitcoin, we need to know everything about bitcoin, there is no way that investing in bitcoin will yield good results without knowing too much about it. Bitcoin is very risky because of its volatility, if you don't have complete knowledge about it, how can you deal with its volatility?
Keep the thinking simple rather than getting too scared of what you have to do. Every investor is a risk taker regardless of whether they can afford to lose or not. Investing isn't a way to keep your budget stable, it's a way to make your money work for you. They don't have to learn everything including the technicals, but investors just need to know how the market works and how they adjust their risk.After all, it's hard to say that any big investors are willing to invest in assets they don't know about, if any then they are simply betting on luck. Beginners often do this, but they will figure it out after learning.
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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.
I must say, I admire your courage for purchasing BTC before you actually studied it. Normally. potential investors would first study and research the market before they commit to an investment. Though the price of BTC has went down and somehow stabilized, this should not discourage anyone from attempting to invest in this space due to its sheer potential in the future.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.
Are you trying to emphasize that buying bitcoin is to fight inflation and it's a good store of value to help us fight inflation? What if a person doesn't know too much about bitcoin and buys bitcoin for $69k? Will it still be an inflation hedge since even bitcoin was hit hard when inflation peaked in 2022?
If we want to invest in bitcoin, we need to know everything about bitcoin, there is no way that investing in bitcoin will yield good results without knowing too much about it. Bitcoin is very risky because of its volatility, if you don't have complete knowledge about it, how can you deal with its volatility?
What happens after you cut loss, but the price doesn't continue to fall? Whether in a bull or bear season, bitcoin is never predictable, and we will never know what the market manipulators are thinking. Selling bitcoin while the price is falling is actually an extremely risky move, if you are not a good analyst, you should not try this.
If unfortunately, the market continues to fall when we buy, we should be patient and continue to DCA if we still have money in reserve. If not, hold on and do nothing, don't try to prove that we can read the minds of the sharks or the market makers.
That is why you do not cut loss and sell, that shouldn't happen and that would result with you losing money. The reality is that we are talking about a situation where you should be gambling as much as you possibly could, and if you keep doing that then you are going to be fine.If unfortunately, the market continues to fall when we buy, we should be patient and continue to DCA if we still have money in reserve. If not, hold on and do nothing, don't try to prove that we can read the minds of the sharks or the market makers.
I personally believe that the best thing to do is DCA, it allows you to make as much profit as you possibly could and if you keep doing that then you should be feeling fine. I know that it is not going to be a simple thing, but if you could do that then you should be fine. I know that it is not going to be that hard to handle it all, but if you believe in yourself then you should be fine. I believe that DCA will make me rich, this is why I feel comfortable when I am buying more when the price is dropping.
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