Topic: Three things you should not do when Bitcoin prices drop! (Read 4780 times)
patience must be needed and not doing too much in a hurry, because it is already a natural thing in trade that something will happen as it is now with bitcoin. so with great care it will take us no further down.
Thanks for the useful tips. As for me I never sell coins when prices drop. To my mind, it is better to use coins for the long-term investment and sell them only when prices increase
Hi, everybody. 1.Not panic. 2. Don't sell your assets. 3. Just wait.
Nice project sir
I would also allow myself to add a fourth rule: when you learn about the collapse, close everything, don't read anything and go for a nice walk.
these three things you pointed out are indeed things one should avoid as they are capable of making one take terrible decisions. when bitcoin price drops just hodl and wait, it is simple. selling during panic will only lead to regret
When the market is down. Some people sell to cut their loss and later lament and feel sorry for themselves. Forgetting the advice of not to panic sell and HODL
Well some sell to cut loss and re enter the market. Hodling isn't always the answer in a bear market. Utilize stop loss. Many day traders can still make money out of this kind of market movement.
maybe from the first thing you can't do all your coins so that you don't have a deposit for the future if the price goes up again, the second don't panic if you hear the price of bitcoin is falling. it can be a scam or a spam, the third is that you may not immediately close your account immediately, at the core of all these problems you all have to be patient to face this decline in biitcoin prices.
When the market is down. Some people sell to cut their loss and later lament and feel sorry for themselves. Forgetting the advice of not to panic sell and HODL
indeed it is very important for us not to sell and cut loss. when the price falls, the important thing we can do is hodl. You must always believe that bitcoin will never disappear, and as long as bitcoin is still there, then the bull run will definitely happen.
Great advice mine will be:
-Don't catch a falling knife
- Don't believe anything you read on news
- Don't go all in and set aside money for the next run.
-Don't catch a falling knife
- Don't believe anything you read on news
- Don't go all in and set aside money for the next run.
I think, the good thing to do when bitcoin goes down is to stay calm and not panic, I will hold the bitcoin that I have and I'll wait for bitcoin to rise again to sell it because I believe that bitcoin will be able to survive and will recover soon
The best option i do when bitcoin is down is just stay off chart and also try as much as possible not to sell my bitcoin cause it can be tempting at sometime and also take a holiday lol thanks
You sharing very important issues which we make every mistake in such a way. Trading or Investment is totally mentally and economical beetle which we are suffering in the dip. Trade without seeing the graph is very difficult. Normally everybody selling their coin when see the soaring.
I will not selling my coin at low price. Its just realizing my loss. I am prefer believe that market will recover. Better not panic and selling our coin at cheap price. If we are confident with our investment, i am believe long term is good option
When the price goes down the decision that must be taken is very difficult, because it cannot use the heart, but must think logically because the price of bitcoin is like a curve, up and down. I think the most reasonable choice is HODL for a certain period of time, because the price of bitcoin is undergoing a correction and will definitely rise again. Just how much is the increase, unknown.
Do not stare at the market! Well, I always do that because I don't want to see my asset to fall down time by time when I will look at blockfolio or even CMC. However, I always update daily because I know that bull run will surprise me. We need to be updated regarding with the price but not always by time.
Trading or investing in the Crypto market is a psychological battle for yourself. Securities investors often say that investing in traditional markets requires very high disciplinary action. This demonstrates how they will control themselves for the volatility of the market. How can they eliminate the wrong decisions that most people still make and adhere to the strategies they have set.
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "
Quite a helpful post way back! The best I do is to stay off all exchanges, charts and checking of portfolio for at least a week. Though it's not an easy task staying off checking out.
Bitcoin price drops many time this year, so I feel that I am immune about it and I will just wait, when it start rising again.
Some really good tips there in these extremely red market days. I'm not a great bitcoin fan tbh but then again so much else is dependent on bitcoin doing well. For that reason, i say don't lose hope guys. Make measured and thought through decisions because it can be tempting to get fixated with market graphs right now in fear of further/deeper losses. One thing i'm personal weary of as well is some of the posts here i take with a 'pinch of salt'. This is crypto therefore everyone has an agenda, i've to be careful not to let others influence my decision making.
As for me ,I don't wait till bitcoin monthly or two weeks chart is oversold before buying bitcoin.On many occasions, I have missed to buy bitcoin because iam waiting to buy the dippest dip.
However, one should not use short time chart like 15 minutes ,30 minutes and one chart to make a trading decision. The reason is ,short time chart frame may not show you the general overview of what could happen on the market.As a result ,you may end up buying only to see the price of bitcoin dump more.
On the other hand,one should not listen to some crypto admins and youtubers saying that bitcoin will touch $2000.I said this because most of the predictions from these youtubers have become opposite of what they said.
In other words,if you buy a coin that is oversold in daily chart when bitcoin dump,it is better you hold it even if bitcoin price dump more.There is possibility that the price of the coin you bought may skyrocket because it has been sold so much at the time you bought.
However, one should not use short time chart like 15 minutes ,30 minutes and one chart to make a trading decision. The reason is ,short time chart frame may not show you the general overview of what could happen on the market.As a result ,you may end up buying only to see the price of bitcoin dump more.
On the other hand,one should not listen to some crypto admins and youtubers saying that bitcoin will touch $2000.I said this because most of the predictions from these youtubers have become opposite of what they said.
In other words,if you buy a coin that is oversold in daily chart when bitcoin dump,it is better you hold it even if bitcoin price dump more.There is possibility that the price of the coin you bought may skyrocket because it has been sold so much at the time you bought.
Anyway, I prefer that if anybody feels like investing bitcoin or something like this, they do not only need clear mind, but also stable conviction to keep themselves. Keeping steady is even more important than clear.
Trading or investing in the Crypto market is a psychological battle for yourself. Securities investors often say that investing in traditional markets requires very high disciplinary action. This demonstrates how they will control themselves for the volatility of the market. How can they eliminate the wrong decisions that most people still make and adhere to the strategies they have set.
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "
I like the do not stare at the chart all day. A lot of newbies in trading really do this and they really panic and lead to analysis paralysis. Which will also lead to not deciding the right one whether they hodl and sell or can't buy at all if they don't have. We should always be objective in all market conditions.
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