Back in 2016 when I started out the FUD was tough to wade through. We had forum accounts here making FUD everyday about many topics, and it seemed as though nobody could be trusted, which is true even today. But one thing was for certain, bitcoin was sure to go up and it did go up from its price of ~700$ to 70k$ today.
I have never been one of those people who quit. But to be that strong willed, you need to have a cushion to rely on. For that I always suggest people to have a stable job. Keep investments in traditional markets along side bitcoin. Those good number will calm your mind when bitcoin crashes which is not uncommon.
Topic: Were you close to throwing in the towel on bitcoin? - page 3. (Read 832 times)
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Wanting to give up is in the nature of the hodler. The secret is to master the control of that feeling.
That's how it is for me, anyway. All of a sudden, you are not looking at the charts so often anymore and your Bitcoins keep growing in value.
You guys might have a different idea of it but the principle stays the same. I sometimes really have the feeling that I need to day-trade/gamble/whatever, then I at least leave the hodl pile alone.
You are right because naturally we will definitely reach a point where we want to give up because of some events that have happened, especially in relation to investments that may have often experienced losses before. But giving up on the situation also does not give any results and we need to introspect and see where the previous weakness is so that by knowing it can be fixed for the better. Experience teaches a person to be stronger and with experience we know the mistakes that need to be fixed.That's how it is for me, anyway. All of a sudden, you are not looking at the charts so often anymore and your Bitcoins keep growing in value.
You guys might have a different idea of it but the principle stays the same. I sometimes really have the feeling that I need to day-trade/gamble/whatever, then I at least leave the hodl pile alone.
The tendency for people to do day trading/gambling or whatever is very natural because we as humans have desires but we also need to set targets in achieving a more profitable holder level about bitcoin. If the concept is clear then I am sure we will slowly become better with increasing levels of experience.
I think if you have only half of your investment in bitcoin, you are not a true bitcoiner.
I'll reconsider if your stocks are in BTC ETF or in MicroStrategy shares.
Me? I'm more than 100% in Bitcoin. I leverage fiat to buy bitcoin.
I have never regretted buying, at any price. My only regrets is when I sold or lost bitcoin.
And I don't ever get happy to see the price pump. Because I know the price will go up. I just wish the days of $20k BTC from 2 years ago would come back.
When you see the price dump, you lose intetest, you get FUD, and you start to sell. I just buy more.
The name of the game is to buy low, not sell low.
I'll reconsider if your stocks are in BTC ETF or in MicroStrategy shares.
Me? I'm more than 100% in Bitcoin. I leverage fiat to buy bitcoin.
I have never regretted buying, at any price. My only regrets is when I sold or lost bitcoin.
And I don't ever get happy to see the price pump. Because I know the price will go up. I just wish the days of $20k BTC from 2 years ago would come back.
When you see the price dump, you lose intetest, you get FUD, and you start to sell. I just buy more.
The name of the game is to buy low, not sell low.
Some just can't bear their mind on the fact that they are - loosing - money.
If they did dig a bit deeper they would know that that's not the case with BTC. It will eventually bounce back and break its ATH.
Wanting to give up is in the nature of the hodler. The secret is to master the control of that feeling.
That's how it is for me, anyway. All of a sudden, you are not looking at the charts so often anymore and your Bitcoins keep growing in value.
You guys might have a different idea of it but the principle stays the same. I sometimes really have the feeling that I need to day-trade/gamble/whatever, then I at least leave the hodl pile alone.
That's how it is for me, anyway. All of a sudden, you are not looking at the charts so often anymore and your Bitcoins keep growing in value.
You guys might have a different idea of it but the principle stays the same. I sometimes really have the feeling that I need to day-trade/gamble/whatever, then I at least leave the hodl pile alone.
I've got a hold of myself not looking at charts or prices at all, and even when I saw +15-20% on my BTC or an alt, I still didn't want to get rid of it to get the profits. Because I know what's to come.
I think if you have only half of your investment in bitcoin, you are not a true bitcoiner.
I'll reconsider if your stocks are in BTC ETF or in MicroStrategy shares.
Me? I'm more than 100% in Bitcoin. I leverage fiat to buy bitcoin.
I have never regretted buying, at any price. My only regrets is when I sold or lost bitcoin.
And I don't ever get happy to see the price pump. Because I know the price will go up. I just wish the days of $20k BTC from 2 years ago would come back.
When you see the price dump, you lose intetest, you get FUD, and you start to sell. I just buy more.
The name of the game is to buy low, not sell low.
I'll reconsider if your stocks are in BTC ETF or in MicroStrategy shares.
Me? I'm more than 100% in Bitcoin. I leverage fiat to buy bitcoin.
I have never regretted buying, at any price. My only regrets is when I sold or lost bitcoin.
And I don't ever get happy to see the price pump. Because I know the price will go up. I just wish the days of $20k BTC from 2 years ago would come back.
When you see the price dump, you lose intetest, you get FUD, and you start to sell. I just buy more.
The name of the game is to buy low, not sell low.
Wanting to give up is in the nature of the hodler. The secret is to master the control of that feeling.
That's how it is for me, anyway. All of a sudden, you are not looking at the charts so often anymore and your Bitcoins keep growing in value.
You guys might have a different idea of it but the principle stays the same. I sometimes really have the feeling that I need to day-trade/gamble/whatever, then I at least leave the hodl pile alone.
That's how it is for me, anyway. All of a sudden, you are not looking at the charts so often anymore and your Bitcoins keep growing in value.
You guys might have a different idea of it but the principle stays the same. I sometimes really have the feeling that I need to day-trade/gamble/whatever, then I at least leave the hodl pile alone.
I personally don't feel that I will give up with conditions like this, even though it sounds like someone who is naive but in this case I think my choice and my belief remains the same for bitcoin so why give up halfway before my goal can actually be achieved in bitcoin.
I've been in worse situations than this when bitcoin went through a crazier decline and I still survived so a correction like this certainly won't make myself waver just because of a slightly declining price problem which is normal because indeed one of the characteristics and uniqueness of bitcoin comes from the volatility that occurs.
We have felt deeper than this and still survive so when a correction that is only not much makes us soft it will certainly be very funny especially with the actual movement of bitcoin which is still very positive.
I've been in worse situations than this when bitcoin went through a crazier decline and I still survived so a correction like this certainly won't make myself waver just because of a slightly declining price problem which is normal because indeed one of the characteristics and uniqueness of bitcoin comes from the volatility that occurs.
We have felt deeper than this and still survive so when a correction that is only not much makes us soft it will certainly be very funny especially with the actual movement of bitcoin which is still very positive.
2025 would be the final judge of the decisions made now, whether to hold or not
But I do think BTC will, as always, deliver.
Giving up before fighting is caused by doubts that arise from not knowing what will happen when facing new challenges. Mental strength is essential and supported by realistic expectations, hearing advice or encouragement from more experienced friends can illuminate your journey. There are many users here who can be mentors to make it easier for you to get encouragement to keep moving forward, try to suppress negative emotions and hone your skills to achieve success in Bitcoin investment.
having the right set of people around you is quite important and essential for our Bitcoin investment journey, and also being able to identify any negative folk around you and making efforts to stay away from such fork's is very important for your mental well being and peace of mind because when it comes to Bitcoin investment, you need all the motivations that you can get and any form of funds and negative experience sharing can kill that motivation around you, so for sure we have to keep that in mind all the time since is very essential for our growth.Bitcoin price could be very stressing if you keep looking at it all the time and for that you have to buy in the Time and only check when you need to sell some of your Bitcoin and not checking the price every minute or days, because that can burn out your motivations, majority of the time that we come across some bad experience, there are all originated from various fuds and crisis that are individually ignited and that doesn't fit in all the time and there is need to work on that state of things if we really want to make progress at all time.
In the early stages of my life, I didn’t have the full faith in Bitcoin that I do now. But as I grew older and went through many of Bitcoin’s cycles, I realized that there’s no giving up and no turning back with Bitcoin. Whoever knows the truth about Bitcoin and its volatility and has believed in this and decided to maintain a long-term perspective of his holdings will certainly not be affected by any negatives, as they create these negative news stories to push out weak hands and anxious investors from the market. Psychological factors and confusion are integral parts of this game. Those who overcome them can see Bitcoin now above $70,000 with a big smile.
Bitcoin will not stop at this, as the trend is still positive and upward in my opinion, and we may target 80 thousand soon this year. I am committed to my plan and the target price, and if what I want is not achieved this year, I will not lose anything by waiting patiently like you OP. The most important thing is to stay strong in your journey and not lose patience, no matter the cost.
Bitcoin will not stop at this, as the trend is still positive and upward in my opinion, and we may target 80 thousand soon this year. I am committed to my plan and the target price, and if what I want is not achieved this year, I will not lose anything by waiting patiently like you OP. The most important thing is to stay strong in your journey and not lose patience, no matter the cost.
I personally don't feel that I will give up with conditions like this, even though it sounds like someone who is naive but in this case I think my choice and my belief remains the same for bitcoin so why give up halfway before my goal can actually be achieved in bitcoin.
I've been in worse situations than this when bitcoin went through a crazier decline and I still survived so a correction like this certainly won't make myself waver just because of a slightly declining price problem which is normal because indeed one of the characteristics and uniqueness of bitcoin comes from the volatility that occurs.
We have felt deeper than this and still survive so when a correction that is only not much makes us soft it will certainly be very funny especially with the actual movement of bitcoin which is still very positive.
I've been in worse situations than this when bitcoin went through a crazier decline and I still survived so a correction like this certainly won't make myself waver just because of a slightly declining price problem which is normal because indeed one of the characteristics and uniqueness of bitcoin comes from the volatility that occurs.
We have felt deeper than this and still survive so when a correction that is only not much makes us soft it will certainly be very funny especially with the actual movement of bitcoin which is still very positive.
No, I always kept in mind that the final months of 2024 would be very positive for Bitcoin. Of course it's normal to feel insecure when Bitcoin crashes deeply without apparent reasons, but when you are focused on long term goals, you don't throw the towel. In every cases, new crashes are still possible for Bitcoin, as there is a monthly pattern going on, where in the beginning of every month the price of Bitcoin falls, until recovering and gaining strength between the middle and half of the month, as we are seeing.
Never. As a financial professional throwing in the towel on "investments' that you believe in tends to be one of the worst decisions that one could actually make. Keep in mind that you technically don't "lose" anything until you sell ( or gain for that matter). Until then it's considered an unrealized gain or unrealized loss. You still maintain the same number of shares ( or coins, in this case ) and although the dollar value may be down, when it comes back up , since you didn't sell, you'll have the opp to grow right back with it. otherwise trying to time the "market" is mostly futile.
The long stretches of sideways choppiness seems like it may finally be coming to an end for now and we are seeing a real breakout. The large up and down swings, neverending choppiness and constant FUD can get to you and many were shaken out. I have to admit I was shaken out a few times when I first started buying bitcoin in 2018, but became much better at DCAing and hodling with experience. About half of my portfolio is now in bitcoin, the other half in stock market.
But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
If anyone has been holding bitcoin until now then I don't think that they will be selling anytime soon.
In fact, now is the time to HODL stronger since we are near to ATH and can see a new ATH price soon.
I start selling if I gets taxed on the gains.
BTW. You can get most popular cryptos at a regulated exchange in Denmark. Taking about crypto friendly nations.
Not your keys. The shares still belongs to you! Regulated.
The long stretches of sideways choppiness seems like it may finally be coming to an end for now and we are seeing a real breakout. The large up and down swings, neverending choppiness and constant FUD can get to you and many were shaken out. I have to admit I was shaken out a few times when I first started buying bitcoin in 2018, but became much better at DCAing and hodling with experience. About half of my portfolio is now in bitcoin, the other half in stock market.
But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
If anyone has been holding bitcoin until now then I don't think that they will be selling anytime soon.
In fact, now is the time to HODL stronger since we are near to ATH and can see a new ATH price soon.
The resistance is strong though but since we have been testing this range for quite some time now, I think we will be hitting new highs soon.
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The long stretches of sideways choppiness seems like it may finally be coming to an end for now and we are seeing a real breakout. The large up and down swings, neverending choppiness and constant FUD can get to you and many were shaken out. I have to admit I was shaken out a few times when I first started buying bitcoin in 2018, but became much better at DCAing and hodling with experience. About half of my portfolio is now in bitcoin, the other half in stock market.
But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
You are right, throwing in the towel on bitcoin is much more easier for newbies who lack enough experience of how the market works.But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
But when one has been in this space for a while, let's say a few years, and have seen the bear and bull season come and go, they become better experienced and also learn to hold no matter the condition of the market.
I actually had no goal or intention of selling any of my bitcoins even if there was no positive movement by the end of this October even all through November and the coming months, in fact, I planned to buy and save more bitcoin if the price remained in the levels it was like a week ago, but all the same, I am very happy that the price has began moving up, my only prayer now is that Trump wins the coming election, this event can speedily take the price of bitcoin to $85k and $90k range, or possibly usher us into another era of bull run.
If crypto means including the altcoins, it sure is. But Bitcoin is actually a good one to hold if someone is a maxi or 100% all for it and as you've said, it's a beneficial as a store of value and that's only proving itself year by year and every cycle that comes. I know that you've got more experience than the rest of us here and I think you're now onto the point of trying to diversify and have your assets elsewhere but you'll never leave crypto. 
I think majority here whenever they talk about cryptocurrency investment they limit it to only bitcoin alone and not the other Altcoins. So even if you wish to invest into cryptocurrency (bitcoin only) I still don’t see it as a wise decision to actually go all in and invest all you have on it, this is not actually doubting that bitcoin wouldn’t do well in the future but it is a volatile asset amidst all its numerous advantages and as such to be safe from Situations like the throwing in the towel one needs to actually just diversify to other assets and then invest the other half portfolio into bitcoin this way you don’t get to panic in periods of fud and stuffs like that
I had a good opportunity to own bitcoins in the first years of its existence, but I, as the OP writes, the towel., believing that bitcoin was worse than the money I was paid. Later, I also lost patience several times as a newbie and saw these "roller coasters" of rise and fall in prices. But yes, the forum can cultivate patience and teach us to have strong hands. Today, there is enough information about bitcoin so that newcomers coming to it from the first days have good faith and regularly invest in it, without losing hope for the growth of their funds in the future.
It will be bad not to credit most of the posts from this forum on how they try to actually rally on up that this are fuds and bitcoin will bounce back, I can categorically tell you that some members here grew patience with bitcoin sideway movement and kept on holding due to the nice encouragement some earlier adopters share here, i believe without such many newbies might have panicked and sold at loss
I had a good opportunity to own bitcoins in the first years of its existence, but I, as the OP writes, the towel., believing that bitcoin was worse than the money I was paid. Later, I also lost patience several times as a newbie and saw these "roller coasters" of rise and fall in prices. But yes, the forum can cultivate patience and teach us to have strong hands. Today, there is enough information about bitcoin so that newcomers coming to it from the first days have good faith and regularly invest in it, without losing hope for the growth of their funds in the future.
Today is the day we correlate these mistakes made.
Because we came prepared for them and to help others.
I had a good opportunity to own bitcoins in the first years of its existence, but I, as the OP writes, the towel., believing that bitcoin was worse than the money I was paid. Later, I also lost patience several times as a newbie and saw these "roller coasters" of rise and fall in prices. But yes, the forum can cultivate patience and teach us to have strong hands. Today, there is enough information about bitcoin so that newcomers coming to it from the first days have good faith and regularly invest in it, without losing hope for the growth of their funds in the future.
But I did get to the point where I thought if it doesn't make a breakout by end of October or sooner I would start selling, at least some of it. Well I am glad I didn't because I think we may be out of the woods and finally start to see the rewards. Longer periods of consolidation usually translates into greater upside. No pain, no gain! Can't wait for bitcoin options to start trading next year.
it's always been that way along your investment journey most expecially when your expected returns is not coming forth as fast as you had wished it did. The thought of selling will always come to mind but then, the way Bitcoin has recovered even passed $72k and has almost gotten to the last ATH is an indication that Bitcoin is worth waiting and we might just be in for more up runs.The longer you stay in the market and have witnessed a lot of the market condition, the easier it becomes to get used to FUD and hold through the bear and the bull. The thought of diversification usually comes when you feel your accumulated Bitcoin is enough to be splited into two such that a portion remains in Bitcoin while another portion could go into another sector. It's a safe approach that when followed up the right way can still be beneficial to an investor that's Bouyant enough to diversifying.
FUD is something newbies feel whenever the market move in a funny direction, I’m surprised op started investing for so long and choose to let FUD distract his main focus. I actually believe in continuous practice and learning like if engaging always will build your thought about bitcoin, we all don’t know the right time except for an investor who is desperate about bitcoin market meanwhile investors should set a target so they know what they want. Quitting will only make things look worse because I have seen many in regret due to lack of bitcoin knowledge, hold bitcoin instead of quitting and I can’t imagine such, investors holding till date know what they’re doing except you’ve reached the desired target not the case of FUD.
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