Three things not to do when Bitcoin prices are down - page 2.

likerseld

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Quote from: killat on September 23, 2018, 11:16:30 PM

Panick sell is the worst thing you can do when price is down.

I think no one can know what is expected for Bitcoin or any other cryptocurrency. Unlike what a lot of people think December was the best thing ever happened to Bitcoin, since then so many developments started for a better technology and for easier UX; with the purposes of mass adoption.
It's really all about DEVELOPMENT, more things need to come and become better and if everything will go right then Bitcoin can reach 1m easily.
Exactly as it is? Bitcoin will die to $0. But the good thing is that it's always getting improved by protocols and third-party developments.

I wish everyone can think in a way where they so much focus on the future than trying to get their emotions driven up by current outcomes of market. A downtrend is a normal thing, but it is always a good thing to be well informed on how you really should be going about things than panicking or making the wrong moves in a market as the case may be.

As long as you have your goals and you look forward to achieving those goals, equipping yourself with knowledge to make good decisions will always be there.

Taki

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You explained things to not do when the price is going down, but what is your list of advices when the price is going upper and upper? Just it would be interesting to hear

how to know when it's the top and true moment to buy or profit will be lost.

glowing10

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Quote from: krauzzer02 on September 26, 2018, 11:27:01 AM

For the first point you can't catch accurately the bottom you don't know when exactly it will increase or decrease due to the market unpredictability and sudden fluctuations you re lucky if you spot the bottom then the price goes up after that, the Second one you can't also tell how long it will stay on that state if rise so it is your call to sell or not, the third point seems applicable for long-term holder and investors day traders must observe the charts daily.

It is very rare where people can find the bottom or high price but yes near about in last one year people know form where the price has being picking up and how much max fall has happened. But if people have some goals and if they achieve their target they should be selling it off.

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Quote from: verguat33 on September 26, 2018, 07:41:51 AM

Quote from: killat on September 23, 2018, 11:16:30 PM

Panick sell is the worst thing you can do when price is down.

I think no one can know what is expected for Bitcoin or any other cryptocurrency. Unlike what a lot of people think December was the best thing ever happened to Bitcoin, since then so many developments started for a better technology and for easier UX; with the purposes of mass adoption.
It's really all about DEVELOPMENT, more things need to come and become better and if everything will go right then Bitcoin can reach 1m easily.
Exactly as it is? Bitcoin will die to $0. But the good thing is that it's always getting improved by protocols and third-party developments.

In my opinion the three things not to do when the price are down are 1. Never sell your coins because due to low price you will lose your money. 2. Don’t be panic and hold your coins till the price rise again. 3. Build your trust and be optimistic about the future of bitcoin or any other currency in which you have invested. Strongly follow these three things.

Rather than not selling when the price is low, I feel it's more important and necessary not to panic as you said later because you may need to sell and then you may sell. But if the investor panics then even if he/she doesn't need to sell, he/she might sell off his holdings.
I would suggest Not to Panic, Diversify or trade to get some other coins which can provide greater return percentage compared to BTC, Be optimistic even if countries are temporarily banning or restricting usage/trade related to cryptocurrencies. And most important, follow your own strategy, don't follow others.

krauzzer02

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For the first point you can't catch accurately the bottom you don't know when exactly it will increase or decrease due to the market unpredictability and sudden fluctuations you re lucky if you spot the bottom then the price goes up after that, the Second one you can't also tell how long it will stay on that state if rise so it is your call to sell or not, the third point seems applicable for long-term holder and investors day traders must observe the charts daily.

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Quote from: jseverson on September 24, 2018, 07:33:32 AM

Quote from: liennhung345323 on September 23, 2018, 12:50:55 PM

Not sold when prices are rising
All of us have bottomed out in the downtrend just to wait until the price goes up.
It seems that every time I get entangled in FOMO and proceed to sell immediately the price of that kind of coin increased.

I just want to chime in to say that this isn't necessarily bad. Selling everytime the price rises could end up losing you money in the long run, especially in the crypto market where growth is explosive. You could easily end up selling below or near the next bottom.

I'd personally say there are really no standard practices when the price dips, other than to make informed decisions unclouded by FUD. There's no real way to avoid losses anyway.

Yeah, there is really none and the most important thing like you said is to always make informed decisions which most times to even be trading the market either short term or long term, requires one to at least have some sort of strategy to be able to know how to make certain market decisions which all amounts to where to buy, where to sell and how you should be managing the risks that comes with it.

Not everyone have the information to know when to sell most of the time, and that can make it hard for them to make important decisions even when market is just doing some short term correction.

verguat33

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Quote from: killat on September 23, 2018, 11:16:30 PM

Panick sell is the worst thing you can do when price is down.

I think no one can know what is expected for Bitcoin or any other cryptocurrency. Unlike what a lot of people think December was the best thing ever happened to Bitcoin, since then so many developments started for a better technology and for easier UX; with the purposes of mass adoption.
It's really all about DEVELOPMENT, more things need to come and become better and if everything will go right then Bitcoin can reach 1m easily.
Exactly as it is? Bitcoin will die to $0. But the good thing is that it's always getting improved by protocols and third-party developments.

In my opinion the three things not to do when the price are down are 1. Never sell your coins because due to low price you will lose your money. 2. Don’t be panic and hold your coins till the price rise again. 3. Build your trust and be optimistic about the future of bitcoin or any other currency in which you have invested. Strongly follow these three things.

khaled0111

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I disagree with the third point, any good trader shoud stay updated and must keep an eye on charts, this way a good trader will not miss any opportunity especialy in cryptocurrencies market which is known by high volatility, fast and violent price changes.

If you plan to invest a big amount of money you should be ready for all scenarios and keep in mind: "Never Invest What you Can't Afford To Lose"

DeadCoin

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Dont judge the bottom of the price because we cannot predict the market. At the same time we dont the bottom price. Another thing is whenever the price is low means we cannot sell the bitcoin. Always use the strategy by low sell high if we know this we can easily earn more income through bitcoin. Till that we have to wait with patience and hold the coin.

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Quote from: socks435 on September 23, 2018, 01:18:33 PM

It's normal for bitcoin to see the price falling and I think you should always do the basic thing to get the advantage of "buy low and sell high" because if you don't know the basic way you will always end up losing your investment by trading so every time the price drops you must buy bitcoin because you don't know if what is the bottom price so buying bitcoin after the drop is the best opportunity to buy cheap price of bitcoin and sell it when the price reaches 10% or more.

Yes that is true, many Bitcoinist knew this kind of strategy. When the price is dropping again they need to do this kind of thing so they did not lose their money. When the price is low we need to hold and buy that is now the mindset of many people here even me. Admit it. I do it also.Do not stress yourself to overthink the price just let it be and trust the processes.

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Quote from: Shimmiry on September 24, 2018, 05:46:21 AM

Quote from: javainn on September 23, 2018, 05:20:50 PM

if I speak three things I think that is too much, I just give advice on things that don't need to be done when bitcoin prices go down, don't panic sell and sell bitcoin at low prices so stay stay on bitcoin and arrive at the highest price.

This is really the thing that must be done. Do not sell during the market on red state, or when it is down, probably hodl and wait for the time when the market turns green or rise again the value. Then it is the perfect time to earn money. Being smart is indeed needed for the bitcoin 's market.

But someone's smart way of thinking is very different, you cannot force others to follow what you have mentioned. The mindset of graph price are different between me and you and others in this forum. As what you said, never sell when prices declined.

But for me, I will see the cause of the price reduction be it technically and fundamentally. I will continue to hold when the price decreases if the cause of the declining price won't have a large effect on the market, in general the coin price will return to its original price. However, if the cause of the price will give a big impact on the decline price then I would sell my coin and certaintly will return if the price is at the bottom.

eaglewhite80

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Quote from: killat on September 23, 2018, 11:16:30 PM

Panick sell is the worst thing you can do when price is down.

I think no one can know what is expected for Bitcoin or any other cryptocurrency. Unlike what a lot of people think December was the best thing ever happened to Bitcoin, since then so many developments started for a better technology and for easier UX; with the purposes of mass adoption.
It's really all about DEVELOPMENT, more things need to come and become better and if everything will go right then Bitcoin can reach 1m easily.
Exactly as it is? Bitcoin will die to $0. But the good thing is that it's always getting improved by protocols and third-party developments.

Unfortunately, that is what a lot of people always end up doing in most of their investment years and trading years all because they are so ignorant of the space and they just do things blindly. Development will definitely keep coming as well as mass adoption, the only issue is that people tend to look at the negative side to every negativity rather than trying to find ways they can take that negativity and turn it into a positive situation for themselves, which in this case is what we have always clamored on when it comes to buying the dips.

el kaka22

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There is one thing I do, no need for three Wink

. I just keep waiting until it goes back up to a level where I can feel comfortable.

As long as you wait enough than there is no reason why you should be worried about price dropping. Market could be bear, everything could be horribly going to low, just focus on spending money you can afford to lose and you won't worry when the price is going down. You need to focus on not dropping but just the patients of the fact.

No three need or something just one thing and that is patients. If you wait enough than the price eventually goes back up and you profit from it. Sometimes quickly, sometimes takes time.

audaciousbeing

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Quote from: liennhung345323 on September 23, 2018, 12:50:55 PM

In the emotional market, price volatility is driven by emotions. To emerge on a market driven by emotion, you have to eliminate emotion from your trading.
Here I will talk about what you should do and should not do in this market. It is very difficult to keep up with Bitcoin prices and you will wonder whether Bitcoin prices will return to this level again. I can not predict this, but most people are confident that prices will recover.
Do not stare at the chart all day
Whether you like it or not, you can not control the market up or down at your own discretion.
Trust me, initially, I also spent countless hours tracking the chart. Now, I find myself wasting that time. Sure, I spent a lot of time researching and applying what I learned for my trading, but I also spent a lot of time staring at the computer screen for hours on end. Track charts.
I learned that most of my mistakes were made in such moments. Taking hours to look at a continuous chart will make you fatigued and may make emotional decisions.
Maybe this is my share of nothing special with the experienced trader but I think it may be very useful for newbie.

All of the three "Don'ts" are very important but in other of importance and urgency, this is the most valuable and should be on the top of the list. The moment you begin to watch the charts or you have your bitcoin in wallets like blockchain.com that updates the value of your bitcoin in relation to the dollar on a real time basis, seeing the value dropping gradually could trigger some not well thought out decisions and the other two "donts" would be able to stop it. I have been there before and when you are about to make such decision, you justify it by rationalising but with complete closing out from checking, you are sure of making much more sound decision the next time.

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Quote from: liuqi on September 24, 2018, 12:17:21 PM

Quote from: omorfi on September 23, 2018, 06:04:45 PM

If the price of bitcoin is falling, stop following the prices to avoid being affected psychologically. Turn your monitor off and just go outside and do something else.

The human being have 6 sense so all the investors are waiting for the future hype. I think no one is turn off the computer and go away from Bitcoin. Because all the investors are buying this dip then only it will make good profit in future so most of the peoples are active this period. Some peoples are holding for long term so they never take it mind so who expect more in this investment they only monitor the market.

what you are calling "peoples" is just day traders not everyone. it is those who are trading in short term like daily to make profit from trading not from investment. the investors are not active every day by looking at the price every second. they buy at an appropriate price and after doing proper analysis on the real potentials then they invest what they can afford to lose and go away trusting in their analysis and check things periodically with a bigger interval.

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Quote from: liuqi on September 24, 2018, 12:17:21 PM

Quote from: omorfi on September 23, 2018, 06:04:45 PM

If the price of bitcoin is falling, stop following the prices to avoid being affected psychologically. Turn your monitor off and just go outside and do something else.

The human being have 6 sense so all the investors are waiting for the future hype. I think no one is turn off the computer and go away from Bitcoin. Because all the investors are buying this dip then only it will make good profit in future so most of the peoples are active this period. Some peoples are holding for long term so they never take it mind so who expect more in this investment they only monitor the market.

Yeah it would be very difficult to practice that especially if you have a lot of investments. This is why it's important to be fully aware of what you're getting yourself into. If you accept the risks right before you made your first investment, falling prices shouldn't affect you that much

liuqi

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Quote from: omorfi on September 23, 2018, 06:04:45 PM

If the price of bitcoin is falling, stop following the prices to avoid being affected psychologically. Turn your monitor off and just go outside and do something else.

The human being have 6 sense so all the investors are waiting for the future hype. I think no one is turn off the computer and go away from Bitcoin. Because all the investors are buying this dip then only it will make good profit in future so most of the peoples are active this period. Some peoples are holding for long term so they never take it mind so who expect more in this investment they only monitor the market.

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1. You should do some consideration before buying, whether the price will continue to fall or not? it is difficult to determine the lowest point, but you don't have to buy at that point.
2. If you sell when prices rise there are two things that will happen, prices will continue to rise or prices will suddenly fall. it's unlikely the price will stabilize after the price rises. if you want to be a trader, you have to get rid of greed.
3. I like to see graphs, especially if prices are rising. even I see it all the time.
Cryptocurrency will make you trapped in difficult choices, but you have to make a decision wisely

jseverson

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Quote from: liennhung345323 on September 23, 2018, 12:50:55 PM

Not sold when prices are rising
All of us have bottomed out in the downtrend just to wait until the price goes up.
It seems that every time I get entangled in FOMO and proceed to sell immediately the price of that kind of coin increased.

I just want to chime in to say that this isn't necessarily bad. Selling everytime the price rises could end up losing you money in the long run, especially in the crypto market where growth is explosive. You could easily end up selling below or near the next bottom.

I'd personally say there are really no standard practices when the price dips, other than to make informed decisions unclouded by FUD. There's no real way to avoid losses anyway.

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Quote from: javainn on September 23, 2018, 05:20:50 PM

if I speak three things I think that is too much, I just give advice on things that don't need to be done when bitcoin prices go down, don't panic sell and sell bitcoin at low prices so stay stay on bitcoin and arrive at the highest price.

This is really the thing that must be done. Do not sell during the market on red state, or when it is down, probably hodl and wait for the time when the market turns green or rise again the value. Then it is the perfect time to earn money. Being smart is indeed needed for the bitcoin 's market.

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