Were you close to throwing in the towel on bitcoin? - page 3.

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Quote from: goldkingcoiner on October 30, 2024, 05:04:45 PM

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.

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.

PepeLapiu

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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.

goldkingcoiner

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A Bitcoiner chooses. A slave obeys.

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.

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Quote from: Furious 7 on October 30, 2024, 04:26:53 PM

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.

2025 would be the final judge of the decisions made now, whether to hold or not Roll Eyes

But I do think BTC will, as always, deliver.

Odusko

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Quote from: reagansimms on October 29, 2024, 10:16:19 PM

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.

albon

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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.

Furious 7

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https://duelbits.com/

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.

uneng

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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.

ChiBitCTy

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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.

Easteregg69

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Quote from: pawanjain on October 30, 2024, 11:17:40 AM

Quote from: headingnorth on October 29, 2024, 10:58:12 AM

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.

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.

pawanjain

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Nothing lasts forever

Quote from: headingnorth on October 29, 2024, 10:58:12 AM

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.

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.

Fivestar4everMVP

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Quote from: headingnorth on October 29, 2024, 10:58:12 AM

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 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.

Zaguru12

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Quote from: passwordnow on October 29, 2024, 06:53:26 PM

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. Wink

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

Quote from: lovesmayfamilis on October 30, 2024, 08:18:25 AM

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

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Quote from: lovesmayfamilis on October 30, 2024, 08:18:25 AM

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.

lovesmayfamilis

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✿♥‿♥✿

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.

Hewlet

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Quote from: headingnorth on October 29, 2024, 10:58:12 AM

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.

Miles2006

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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.

BALIK

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Quote from: passwordnow on October 29, 2024, 06:53:26 PM

Quote from: BitcoinBarrel on October 29, 2024, 12:02:36 PM

I don't think it is wise to go all-in 100% into crypto, but it is a beneficial medium for exchange and store of value.

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. Wink

Bitcoin is a good investment but honestly putting all your eggs in one basket is not a wise decision. Once it is called investment, it means there will be risks, no investment is absolutely safe. Not to mention, the higher the return, the greater the risk, and although bitcoin is safer than altcoins, it is still a volatile and highly risky investment.

That's in theory and many people say they don't put all their eggs in one basket but I don't think so, I guess most people invest all their money in bitcoin. From what I observe, people are betting big on this bull run and it is no surprise that they are taking risks in search of big rewards.

I have no problem investing all in bitcoin, it is risky but if they are aware and willing to face the risk if it happens. I mean as long as people are aware of what they are doing they can invest wherever they want.

reagansimms

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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.

jcojci

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That depends on how you believe in Bitcoin. For Bitcoiner, they really trust Bitcoin will be rise again at the right time. If this time Bitcoin still not moves good, that will be okay for them because they can wait for more. They will have more chance to accumulate more Bitcoin by DCA so they can prepare many Bitcoin that will be ready to sell at the new ATH.

If you don't have patience to wait for the coming, you can sell at any price you want. But you should not regret if you see the price start increase. We may not know when the price will start increase but we have many tools that can tell us if the price start increase. Besides that, you should have a target price to sell so you know when the time to sell. Just stay calm and don't panic.

Topic: Were you close to throwing in the towel on bitcoin? - page 3. (Read 763 times)