Topic: No panic while holding my Bitcoin - page 3. (Read 982 times)

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.

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.

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.

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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.

First of all, welcome to forum and I have to say that you chose a very good time to buy your first bitcoin.


Regarding this "I will be in the profit very soon" part, that doesn't have to necessarily 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.

That's sufficient reason to buy Bitcoin. Never ever compromise your other investments and your monthly bills payment. If you have the spare, buy. There's no need to force buying just because someone said that it will soon be pumped. What if it doesn't? Then regrets will keep on piling in until a panic happens, and you sell your Bitcoin without even thinking it through.

I like it more when I read stories of different people who also first bought the technology. You can also learn from them especially if they make a mistake before their investment plan. Keep it up. Just buy whenever you feel like it or if you can. It will always be your choice.

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.

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.

In long-term trades, patience is the most important thing, and I don't think it's always just a matter of whether or not you can keep the money for the long term. Sometimes the market drops so much that you can lose faith in the success of the transaction, and in this case, sell at a loss. Manipulators achieve this, if they provoke a panic during a fall, then panic selling will lower the price even lower and at that time they will buy.

Personally, I respect and approve of your approach and believe that if more people acted like you, the cryptocurrency market would be much safer. A conscious investment is very important, of course it does not mean that it will always be profitable, but it shows a mature approach to investment and I believe that in the long run it will guarantee you profit. Do not give up further learning economics and technical analysis, and it will certainly pay off in the future. I wish you every success.

this is why everyone is always recommending to invest your spare money on this market so you won't be agitated or panic whenever the market is not looking good. because panic is real if you use your money that you will use to pay for your bills and other necessities. you are always worried about the movement of the market. hence, creating emotional stress on this process.
but if you will only allocate your extra extra money, you won't be so disturb about the roller coaster ride in this market, because you can wait for the market to go green.

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.

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.

1 Bitcoin can always become 2 Bitcoin but only if you know how to do it, of course, it won't just become 2 Bitcoin if it's kept idle, that will only make its price go up and down as the market moves, but as a trader, if you know when to buy and when to sell a coin, you can turn your 1 Bitcoin to 2 in not much time. All it needs is the ability to read the charts and understand the movements of the market to act accordingly.

What you basically need to do is sell the Bitcoin that you have (in this example, it's 1 Bitcoin) when the price is pretty high, for example, when price had hit $31k earlier, once it is sold, you now have $31k in stable coins, and when price of Bitcoin falls like it is at around $25k now, it may go to $20k as well, you buy when that happens, and then wait for it to go up again, or you can do DCA until it reaches the bottom and then sell when it goes high again. Repeat the same thing for about 2 or 3 times and you will have 2 Bitcoins or maybe even more.