Topic: What should be my fear? - page 3. (Read 960 times)

The current bitcoin price ranges from $16K, that means the previous price accumulation was at a maximum correction of up to $15K, as a beginner you are in the current correctional market condition. However, in my opinion, there is no need to worry, because once the recovery process is running on the market, bitcoin's condition will be fine. Supply and demand that enters the market will make us have the opportunity to enter the market now.

Stay calm and make purchases in stages according to the capital we have, so you can take advantage of accumulated bitcoins at any time, because the current price conditions are the right step to make purchases.

You probably know by now the need to keep your bitcoin safe from hackers and possible centralized exchange exits. The main concern is the fear which is related to investment. I think everyone or maybe 99% of people who invested money that they cannot afford to lose will continue to live with fear. I did it before, I studied bitcoin charts since the earliest I could get. So I thought that the past cycles would make me strong and overcome fear, I took the risk, and I signed a contract to assume a house and lot but held most of my assets in bitcoin. And then here comes the 2018 and 2019 bear seasons. I thought I can be alright knowing how confident am I that history would repeat itself. When it dropped from $19k ATH to $3k, fear beat me, I didn't expect bitcoin to drop that low and I cannot sleep well at night. So in the end I decided to sell all my bitcoins cheaply.

I learned the hard way. I should not have risked an amount that I cannot afford to lose.

Basic stuff.

No such thing as a free lunch.   This can be broken down to anyone telling you they have a system/coin that guarantees profits lots of money ... that is someone trying to scam you. 

Fear ignorance.

  Your own and others.   Other peoples ignorance is just as dangerous as yours.   Never stop learning.  You cannot force other people to learn.    This statement can be a 2 hour discussion about energy efficiency and knowledge but .. not really necessary to the point I am making.   

When I say knowledge I Do Not Mean only knowledge about finance.  I mean anything that interacts with humanity.   yeap thats big,  no, theres no end there. 


  Spend the effort and learn new things or even wrong things to know how they are wrong.  Review what you know to find out where it might be wrong.  Like Bitcoin.   I actually don't think its prefect.   But it seems about as close to perfect as we can get at this time with humanity in the loop.   Willing to update that as I go along.   


Chase Value, Not numbers. 

This is a weird one.  For people that equate a high number with high value it can be confusing.     

Value and Price are Not the Same Thing. 

Example.  You can have 1 diamond 100 carat in size...  Or you can have 1 child.    You cannot in this statement have both. 

  You are Forced to judge the Value of one over the value of the other.  The price is no longer relevant.   This statement seems somewhat silly on the surface.   Yet we do this every single day when we decide whats for lunch!

The only fear is yourself. The greed, your emotion because of the downfall of price for some reasons that could happened in the internet and around the world could affect the price and so does your emotion because of your investment value. Always be ready to take the risk if necessary especially if you are into long-term investment, otherwise just do DCA and forget about the price for long time.

As a newbie you should test out all methods you learn from hear because you can create some strategy for yourself to follow for long term. Avoid unnecessary spending thru the hype from other people learn something on the sentiments of the people because this will give you more knowledge about hype and FOMO. If you are willing to spend now maybe test the smallest amount you can afford to lose just for testing purposes and once you learn then you can use some amount either you use it for holding or day trading.

If you are worried about the price go grab the data about past price history of it and you will find out that we are in bear market condition which is best opportunity for other investor to buy since recovery might happen any month next year. Its just you need to believe on it since many time bitcoin proves a huge bounce back after bear market drop it so bad.

You should allocate funds for this, that is the first thing you need to do.
And never think about fear but rather make yourself aware of the risks and possible losses. In other words, make yourself ready for whatever even happens upon investing in Bitcoin. It was to note that investing in Bitcoin never gives you a profit instantly which is why you also need to learn how to be patient.
The more you understand the nature of the market, the more you conquer your fear and negative thinking. And the last thing is that - never spend too much on this as it was not wise to put everything as a beginner.

I believe if OP already has an interest in investing in Bitcoin and for the long term too, then there should naturally be nothing to fear. Why the little put-ins too? I understand DCAing to the market but if I had extra money for Bitcoins investment now, it would be all in cos I am doing this for the long term. Most believe the market will still drop, yes may be so but I don't think that will be a lot as compared to where the market is coming from and we might also miss out too buying at these prices because of hoping it will further drop. Every other thing is based on what you can no longer control, act of God, whether BTC will collapse or your Government will tear it down 

Bitcoin is an investment that can be highly profitable, but there is a risk that you may have to hold it for a long time to make a profit. My only advice is only to invest money that you don't have to use for daily expenses or essential tasks.

As you know bitcoin price is very low right now, so this is a perfect time to invest, I don't dare say if you invest now, you will become rich. But if you are sure that you will hold bitcoin for as long as possible no matter what happens, then I can assure you that bitcoin will give you good profit in the future.

You are right investing in bitcoin should be within your means and not using the money for personal use and if you want to do it you have to make ends meet and the rest you can invest and it doesn't matter how little you buy it because if you do it regularly it becomes a hill.
and if you do it for the long term and believe that the price of bitcoin will rise in the future, then you don't need to be afraid when the price of bitcoin falls and this is only temporary and also an opportunity to buy because of a decrease in price.
Limitations and income are indeed obstacles for those who are enthusiastic about investing in bitcoin, but this is not a problem if you want to manage your finances well and do side jobs to increase your income and investment.
and actually we also have to have savings for urgent needs and also not interfere with your investment so that your goals are successful.

A bear market is a rare opportunity for us as we can buy bitcoin cheaply, but for OP, it will be a scare. Since he has never seen the volatility of bitcoin, it is easy for him to panic when he sees bitcoin plunge. If OP buys bitcoins from now on, but he is not very knowledgeable, then once the bitcoin price drops, it cause panic, and he will most likely dump his bitcoin.

It would be a pity if he didn't buy bitcoin now but in my opinion, what he needs now is knowledge, once he is knowledgeable even if he buys bitcoin at a higher price than it is now, he is safer than having no knowledge to buy bitcoins.

in investing in bitcoin you have to be brave, you don't hesitate with your investment.
because if doubts and fears are too great, it will be difficult for you to achieve maximum results.
does not mean that fear must be eliminated, but the level is reduced,
The point is you have to be careful.

You shouldn't be afraid of timing when buying Bitcoin as no matter when you buy, if you're patient enough you can profit. You target should always be long term as that's what pays. Those that bought in the peak of 2017 when Bitcoin was trading around $20k thought they lost it all when Bitcoin fall to $3k during the COVID-19 pandemic on 2020 but anyone was was patient enough and didn't sell could have profited on 2021 when Bitcoin went above $60k.

Although now Bitcoin has dropped again but that doesn't mean it's dead, after Bitcoin having in 2024 we'll begin to see Bitcoin rise in price and might even achieve the $100k price or above in 2024 or get close to that price range.

Fear the wolf in sheep's clothing. Stay away from the scammers that are gradually becoming harder to identify. Hackers and con artists are becoming more interested in cryptocurrencies as their value rises. You worry about the number of checks and balances in place as an investor. To prevent cryptocurrency fraud, it's important to always maintain control over your digital currency.

I think OP is lucky in this case as he would be investing in bitcoin in a bear season when bitcoin is at low prices. This would mean that OP will take maximum advantage when the market will enter in a bull phase.



Again i would say that OP has the advantage here too because he has extra funds which he needed to invest in bitcoin. Since bitcoin is near its lowest price for this bear season, he can invest a good amount of money right now in bitcoin and still be safe.

It will be a long discussion for them if they're going to look for proof but that's a typical thing just to be sure. But if they don't do any action after being shown some good analysis and thoughts of how it's going to be up later on then it's on them.
Whether they buy or not, they listen or not, the market can't be countered and it's bound to be up again and we shall see that bitcoin is going to soar high again.

The main problem that someone like you is going to face is that since you do not have a lot of capital and you will be forcing yourself to buy bitcoin then if something happens, like a medical emergency, you will be forced to sell your bitcoin at a bad price, one of the most basic rules of investing is to only invest what you can afford to lose, and if you cannot really afford to lose too much money then maybe it is not a good idea for you invest in bitcoin at the moment.

Another big thing that we should not forget when we are starting is where to safely store it as well. Many people put their money in a ledger nano or a trezor because that is the safest. However, if you do not have too much, then that would be a big part of the capital as well, getting one would cost you near 100 bucks with shipment to my nation, so if you are investing anything under 1000 then spending 100 to store 900 doesn't make sense, just put it on binance and store it there.

So depending on how much you want to buy, how you store it matters, could be metamask, or trust wallet, or binance or even a hardware wallet like ledger nano, make sure you pick the right one.

First your fear should be how you will be able to secure your wallet for that long period of time you want to hold Bitcoin since you already stated that you want to hold bitcoin for a term.

If you have your bitcoins store me in a cold wallet with your private keys am sure you will be good to go, because entering Bitcoin right now is a good entry price since the price of bitcoin is low and a little above $16,000.

 Your fear should be bear and bull season because those that joined cryptocurrency investment early this year 2022 are seriously worry, if truly what they heard about Bitcoin and cryptocurrency investment is real because since they invested money in Bitcoin and cryptocurrency they have been waiting for the bull to come before they can sell. If you can be able to hold your coins in the period of bear, no matter how long the bear will take you, I guess there will be a beautiful future ahead for you to enjoy.

I think you can rest assured and you don't have to worry about the price of Bitcoin rather don't trust the mass media that always throw mud at you and give bad information.  if there is anything that can weaken Bitcoin it is misinformation and the ignorance of people who have no education.  Don't worry about the rest, buy your Bitcoins and keep them safe, don't mind the price and wait for mass adoption.