What a good laugh. Man, I tell you, I really do feel you! I've been feeling and doing the same things as well. despite knowing better. Haha it is quite easy to tell friends and family to never fall in love with any coin on the crypto industry but damn! It's almost impossible to follow our own advice! and there are even times when we feel like following the steps of the captain of titanic and sink along with the ship! Goodness! Still though, this is what makes being in this industry really interesting and fun. As long as this industry doesn't die, I'm staying for the rest of my life! xD
This is quite common and it is because of this that we need to have a well defined plan about what we are going to do under every single circumstance that we may find during our trades and investments, since no matter how skilled we are, we are going to eventually make a mistake or two along the way and when that happens the most important thing is to limit our losses as much as possible, as in that way recovering the money that we lost will not be that difficult. 
Topic: When you're so inlove with BTC (Read 663 times)
What a good laugh. Man, I tell you, I really do feel you! I've been feeling and doing the same things as well. despite knowing better. Haha it is quite easy to tell friends and family to never fall in love with any coin on the crypto industry but damn! It's almost impossible to follow our own advice! and there are even times when we feel like following the steps of the captain of titanic and sink along with the ship! Goodness! Still though, this is what makes being in this industry really interesting and fun. As long as this industry doesn't die, I'm staying for the rest of my life! xD
Anyone is happy with bitcoin because they hope that the value of bitcoin will continue to increase, and today the price has risen by more than 3% and has the potential to touch the barrier, namely the price of $ 30k, if the barrier can be touched, then you can be sure that the price of bitcoin will continue to rise and make us more in love with bitcoins.
but there is also the opposite, love for Bitcoin does not mean always expecting the price of Bitcoin to continue to increase.but with what happened in the first period of 2023 where the Bitcoin price continued to move in a positive direction even though slowly or even though there was a slight price correction but not too deep.
but for me personally, after knowing Bitcoin since 2016 I see that the amount of slanted news does not falter for Bitcoin, it is always able to create the best prices every year, very significant price movements make a lot of risks and profits to get, the positive and negative sides are very comparable and it is an extraordinary thing to increase people's trust in Bitcoin.
Anyone is happy with bitcoin because they hope that the value of bitcoin will continue to increase, and today the price has risen by more than 3% and has the potential to touch the barrier, namely the price of $ 30k, if the barrier can be touched, then you can be sure that the price of bitcoin will continue to rise and make us more in love with bitcoins.
happy is not enough to consider because the outcome is important , yes we can be happy for the time being but once the dumping happens then Mood will change.best to always love the ups and downs.
I mean we must love when the price is increasing like making a Bull, but also take the chance buying when the price is dumping and that is the reverse of the market.
this is how we must show love in bitcoin and all the coins we are having in pocket.
I don't know how much I love the bitcoins that I have, but I don't think I want to sell them because I love bitcoins so much that I think no one should have them. The love arises because I collected them with difficulty and maybe because I bought bitcoins by retail or (DCA for a small amount), so that might give a deep impression with the bitcoins that I have today from the process.
Anyone is happy with bitcoin because they hope that the value of bitcoin will continue to increase, and today the price has risen by more than 3% and has the potential to touch the barrier, namely the price of $ 30k, if the barrier can be touched, then you can be sure that the price of bitcoin will continue to rise and make us more in love with bitcoins.
happy is not enough to consider because the outcome is important , yes we can be happy for the time being but once the dumping happens then Mood will change.best to always love the ups and downs.
I mean we must love when the price is increasing like making a Bull, but also take the chance buying when the price is dumping and that is the reverse of the market.
this is how we must show love in bitcoin and all the coins we are having in pocket.
Anyone is happy with bitcoin because they hope that the value of bitcoin will continue to increase, and today the price has risen by more than 3% and has the potential to touch the barrier, namely the price of $ 30k, if the barrier can be touched, then you can be sure that the price of bitcoin will continue to rise and make us more in love with bitcoins.
There is no guarantee of keeping any assets in exchange even on the top exchanges at the moment, because cases of fraud for any reason can occur without us noticing beforehand such as FTX, Luna and others, so make sure every asset we have access to the wallet is without third application intermediaries, it is highly recommended to store assets in a hardware wallet as a guarantee that your assets will be safe from any case.
In limited quantities I think you are still safe to have some of your assets on a centralized exchange, especially if you are actively trading. But you have to withdraw all the assets to the wallet if they are your investment assets in the long term. This advice has been mentioned by many different users, of course due to the risk of the centralized exchange itself.Anyone should consider a safe haven for their assets in the long term, and that's how it should be if they love their bitcoin in the long term. Regardless of the reason, it is not recommended that you keep large amounts of assets on a centralized exchange especially in amounts you cannot afford to lose.
You are completely correct, but many newbies and even experimented traders and investors simply fail to imagine the worst case scenario which could take place, they seem to believe that things will always go their way, and even if that was true the majority of the time, the moment this is not the case their losses become catastrophic, and unfortunately last year we had many examples of this with the collapse of Luna and the FTX exchange.
There is no guarantee of keeping any assets in exchange even on the top exchanges at the moment, because cases of fraud for any reason can occur without us noticing beforehand such as FTX, Luna and others, so make sure every asset we have access to the wallet is without third application intermediaries, it is highly recommended to store assets in a hardware wallet as a guarantee that your assets will be safe from any case. While this is a strategy that could work you need to be careful, as time passes exchanges are acting more and more like banks, so by not having your coins in a wallet that is under your exclusive control you are taking a huge risk, especially if you are not trading daily and your coins are just sitting at the exchange doing nothing, maybe it could be better for you to get your coins out of exchanges and set an alarm that lets you know when the price has reached a certain level, and then you can send your coins to the exchange and sell them.
Leaving bitcoin on exchanges for a long time is really a bad idea, I disagree entirely. We do not need to leave them there and set the selling price to wait for the order to be matched, which is not necessary because transferring bitcoins from a non-custodial wallet to an exchange is not difficult and does not take much time.
Aside from day trading, I don't think there's any reason to trust exchanges, even if it's Binance. Currently, Binance is the safest exchange on the market, but there is no guarantee it will not crash as Mt.gox was also once the largest exchange in the market.
Falling in love with bitcoin is natural and that feeling does not promote anxiety or bad feeling since you are advised to avoid being greedy and hold an amount of Bitcoin that you can afford to lose for the long term if you ask about my thought towards your physiological state right now.
I will tell you that you are greedy and could possibly get frustrated if the price of Bitcoin is deep down for a long time, so the best advice for you right now is to invest more in acquiring knowledge that could help prepare your mental state for any possible Bitcoin price outcome.
I will tell you that you are greedy and could possibly get frustrated if the price of Bitcoin is deep down for a long time, so the best advice for you right now is to invest more in acquiring knowledge that could help prepare your mental state for any possible Bitcoin price outcome.
As a person who feels the benefits of the presence of bitcoin, of course it is natural to like bitcoin, but we also have to be rational because changes will occur, I have never thought about keeping bitcoin for too long, if I feel that I need money and there is no other alternative then the first thing I do to do is sell bitcoin even though it is a loss.
When we have BTC assets that make it possible to generate all forms of wealth, then someone must fall in love with Bitcoin. Moreover, BTC has been proven which allows one to have control over their own money and investment in making money. Even more so for those who may appeal to people who feel excluded from the traditional financial system. In addition, the potential for high returns on investment and the overall novelty of the technology can also contribute to people's enthusiasm for Bitcoin.
Yes because BTC can be traded with other cryptos and there are also platforms which allows you to trade your BTC with gold, stocks and other assets. More importantly you can sell your BTC for fiats and buy any things that you can think of. It is also a currency and it's possible to just use it directly especially if BTC in our country is already a legal tender. The good thing about BTC is it is decentralized.We just need to choose a wallet which let's us own our private keys and we should only keep our BTC here and not in a centralized platform or exchanges. If there are people who are Bitcoin enthusiasts, there's also people who aren't and are afraid of it's volatility. These people won't likely succeed if they can't change.
In consequence we need to think very deeply about our actions on this market, it is easy to think that we can deal with whatever losses may come our way, but most of the time this is not true, we all have a limit in which holding our coins becomes simply too difficult, and if you invest too much money in bitcoin then your tolerance to downward movements will not be very high, you will sell for a loss and most likely you will never recover the money you invested in bitcoin on the first place.
I don't think it's the love that people have for Bitcoin that's making them invest uncontrollably instead it's the greediness in them that making them make investment that they can't afford to lose. People just want to make money fast but forget that fast money aren't always the best ways of making money. If you get them fast they can go faster than you got them.
When investing in Bitcoin, patience is needed and also a good strategy that'll prevent you from investing more than you can lose. Never put too much at any time even if the market is said to be at the bottom, it can always go down more which is why you're to have reserved always to buy more Bitcoin.
A few years ago when the price of bitcoin dropped and it took a long time to rise then I was thinking realistically, I would not hold it for too long, now I keep bitcoins on exchanges and of course I have set a high selling price so that when the price is filled then I will stop for a moment and set a cheaper purchase price again.
While this is a strategy that could work you need to be careful, as time passes exchanges are acting more and more like banks, so by not having your coins in a wallet that is under your exclusive control you are taking a huge risk, especially if you are not trading daily and your coins are just sitting at the exchange doing nothing, maybe it could be better for you to get your coins out of exchanges and set an alarm that lets you know when the price has reached a certain level, and then you can send your coins to the exchange and sell them.Leaving bitcoin on exchanges for a long time is really a bad idea, I disagree entirely. We do not need to leave them there and set the selling price to wait for the order to be matched, which is not necessary because transferring bitcoins from a non-custodial wallet to an exchange is not difficult and does not take much time.
Aside from day trading, I don't think there's any reason to trust exchanges, even if it's Binance. Currently, Binance is the safest exchange on the market, but there is no guarantee it will not crash as Mt.gox was also once the largest exchange in the market.
I may not agree with you, because if we keep checking prices every day, even up to 3 times a day, of course this will only raise doubts in our hearts, as a long-term investment it's good for us to think of bitcoin as savings for the future and there no need for us to keep checking the price on the market, but if indeed we only make bitcoin as a short-term investment it's a good idea to check the price as often as possible so we can find out our next step whether to sell or keep holding.
That means he is still very likely to keep all his assets on a centralized exchange instead of keeping them in his personal wallet.For me, it's not wrong to monitor price movements because it can allow someone to change their investment plan for the better. For example, if you have a large budget ready to invest, you should plan a purchase with a good entry price according to your analysis. But again, the best advice is to keep those investment assets in a wallet that gives you complete control, meaning you have the keys.
assets into something which is decentralized and you do have the full possession of its key and having that control.This is why its never been recommendable on storing it up on exchangers.
You would definitely lose it all once hacking and other issues would be raised up and there's no way we could be able to know on what would happen in the future.
Protect your assets and it would really be depending according into your risk management.
I may not agree with you, because if we keep checking prices every day, even up to 3 times a day, of course this will only raise doubts in our hearts, as a long-term investment it's good for us to think of bitcoin as savings for the future and there no need for us to keep checking the price on the market, but if indeed we only make bitcoin as a short-term investment it's a good idea to check the price as often as possible so we can find out our next step whether to sell or keep holding.
That means he is still very likely to keep all his assets on a centralized exchange instead of keeping them in his personal wallet.For me, it's not wrong to monitor price movements because it can allow someone to change their investment plan for the better. For example, if you have a large budget ready to invest, you should plan a purchase with a good entry price according to your analysis. But again, the best advice is to keep those investment assets in a wallet that gives you complete control, meaning you have the keys.
A few years ago when the price of bitcoin dropped and it took a long time to rise then I was thinking realistically, I would not hold it for too long, now I keep bitcoins on exchanges and of course I have set a high selling price so that when the price is filled then I will stop for a moment and set a cheaper purchase price again.
While this is a strategy that could work you need to be careful, as time passes exchanges are acting more and more like banks, so by not having your coins in a wallet that is under your exclusive control you are taking a huge risk, especially if you are not trading daily and your coins are just sitting at the exchange doing nothing, maybe it could be better for you to get your coins out of exchanges and set an alarm that lets you know when the price has reached a certain level, and then you can send your coins to the exchange and sell them. 
When we are too focused and like bitcoin then we will always follow any news, I'm sure we will at least check prices 3 times a day, even in any busy condition we will try to know the latest price, this is because bitcoin price movements are often unpredictable.
I may not agree with you, because if we keep checking prices every day, even up to 3 times a day, of course this will only raise doubts in our hearts, as a long-term investment it's good for us to think of bitcoin as savings for the future and there no need for us to keep checking the price on the market, but if indeed we only make bitcoin as a short-term investment it's a good idea to check the price as often as possible so we can find out our next step whether to sell or keep holding. 
A few years ago when the price of bitcoin dropped and it took a long time to rise then I was thinking realistically, I would not hold it for too long, now I keep bitcoins on exchanges and of course I have set a high selling price so that when the price is filled then I will stop for a moment and set a cheaper purchase price again.
Correct. I agree with you that investing in bitcoin is a challenge for us. Moreover, the price of bitcoin or crypto currency in general is very volatile. so investing in cryptocurrency requires the right strategy so that we can get satisfying profits.
You should exclude altcoin from your investment plan even though bitcoin and altcoin also fluctuate. When you can plan your investment in bitcoin, then you may get satisfactory returns which are well worth the investment budget you have. Altcoin volatility depends on bitcoin volatility [it's common] so try to get more bitcoin in your portfolio instead of being dominated by altcoin. After all you can also expect different volatility between bitcoin and altcoin and find benefits in the long term. Jump to: