Topic: Rollercoaster of emotions. How to deal with? - page 4. (Read 351 times)

First, decide if you're in it for the long term or short term. Based on what you've mentioned, it seems like you're keeping an eye on the market, which aligns more with a short-term approach. If you're aiming for the long term, there's no need to constantly monitor the market to avoid fear of uncertainty (FUD), which I think you are already experiencing.
Long-term investors focus on accumulating Bitcoin over time and worry less about market fluctuations. Personally, I haven't checked the Bitcoin market for days, and I just woke up to find it crossed the $45,000 mark. This illustrates that as a long term holder, occasional price checks are sufficient, reducing the need for constant monitoring.

 If you're considering investing, only invest what you can afford to lose, given the market's volatility.just watch the market less often and you will see the sweet spot about investing in Bitcoin

the question you should ask yourself is, how much of my monthly income can I invest into bitcoin that will give me rest of mind for a stipulated period of time?

If you're able to answer that question, then you will make the best investment choice ever. I understand that the hype could be very encouraging while the recent downside volatility bitcoin has experienced might seem a bit discouraging but you've got to just invest an amount that you can leave for a while and keep doing your job while you do a regular check on the market ones in a while to know the change in the price of btc.

first thing to keep in mind. if you have no intention to sell every month. there is no need to be watching the price daily
so stop watching the prices daily

you have already admitted to wanting to invest monthly so just concentrate on when to buy, dont watch the price for when to sell

as for how much to invest
dont invest more than you need to live on

set a budget
open a spreadsheet and input how much income you get.
write out all your essential bills. and then write out all your other expenses.
calculate how much you can live on if you deduct out some wasteful spending to then have some spare income
this spare income which would have just been wasted is what you would invest

as for idea's like DCA.
people investing in fiat plans like pensions do DCA because they deposit into a fund manager and that fund manager does the hard part of looking at a group of investments for the one that has the lowest market price for the year, and invest most in the low's and less in the highs
(the practice of buy low sell high)
so look at a bunch of investments that have proven longevity and utility. and then look at which ones you should invest most in and which ones to invest least in

many PoS coins are speculated way too high in premium price above their means. they cost only a few dollars to mint new coins but speculate too high on the markets (ethereum costs only $50 to mine new ether at hardware+electric cost but speculates above $2000)

bitcoin however has more market potential to grow. in some island area's of the pacific (japan/hawaii) bitcoin mining cost is above $140k per btc so the market has alot of potential growth of people willing to buy over say $120k as its still cheaper than mining. bitcoins efficient mining cost is $25k
so the window of
bitcoin
   $25k                    $140k
||||||||||||||||||||||||||||
         ^
ethereum
$50                        $4.6k
|||||||||||||||||||||||||||
              ^

so figure out the mining/minting costs of cryptos (their most efficient($0.04/kwh) and least efficient($0.50/kwh)* mining/minting equipment cost)
then look at where the current market price is within those windows of speculation, and invest more in the ones with alot more market potential for growth using sound logic of mining/minting costs

To invest in Bitcoin successfully, you must understand both sides of it: chance to gain profit and risk to get loss.

So risk and profit comes together, you have to manage your capital cleverly enough to make sure if you get loss, your life won't be broken by your investment in Bitcoin.

You must invest what you can accept to lose.

You should never invest all money you have to avoid broken life. It also helps you to have money for life, emergent situations and you will not have to sell your coins anytime you fall into such situations with empty hands, no cash in hands.

How it's even make sense to invest more when you're not even confident with the current money you've invested?

Only invest what you can afford to lose, if you feel an emotion, it's better to reduce the amount you invested. If you still worried, it's better if you learn about Bitcoin and find a good reason to trust it.

What if you've reduce the invested amount, learn about Bitcoin and still not convinced in Bitcoin? that means you shouldn't invest in Bitcoin.

This is the same for all "newbie" investors in Bitcoin, because they are too excited to be invested in a technology that are very different than any other investment option out there. My best advice for you are to invest what you can and also to ignore the short term volatility.

Bitcoin can be used as a "Currency" or as a speculative "Commodity"... so if you use it as a currency, then low volatility should not matter too much, because you spend the bitcoins when the price increase... on the other hand.. buying and hoarding Bitcoin as a commodity, should be seen as a long-term investment... where you ignore short-term volatility in the price.

Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market?

I understand the potential gains, but I'm also thinking about the stress of watching the market's frequent ups and downs. Seeing those price fluctuations can be a real thrill ride – exciting one moment and nerve-wracking the next. So, what's the sweet spot? How do I balance a smart investment percentage without getting overwhelmed by the market's volatility?

Would love to hear how you all manage this balance. I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.