You want to make money with Bitcoin ? Here is a Tip ...Psy... - page 3.

ReiMomo

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Quote from: Jgatsby on March 19, 2021, 02:45:22 PM

It also comes with understanding how the market works, be mindful of the current events happening all over the world, for its a huge factor that can influence how the market functions in the cryptocurrency world. Also don't complicate things out buddy, just buy low and sell high.

It's precisely right, be mindful of the recent event because there could be an impact on the bitcoin price. Especially when there is a very influential person that wants to make noise regarding crypto or directly to bitcoin, it will always have an impact.

But the most problem of newbies that want to invest in a crypto is when to execute the buy low and sell high, the market price is very unpredictable and you will never know what will happen next. But one thing that I know and I'm sure, investing bitcoin anytime and hold this for long run purpose.

Jgatsby

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Pretty kewl right?

It also comes with understanding how the market works, be mindful of the current events happening all over the world, for its a huge factor that can influence how the market functions in the cryptocurrency world. Also don't complicate things out buddy, just buy low and sell high.

Alucard1

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It's not all about trust, it doesn't mean that if a lot of people sell their bitcoin then they don't trust it anymore, there are many factors or reasons why some persons sell bitcoin. When bitcoin pumps, bitcoin becomes stronger, just like when the bitcoin reaches the new ATH, a lot of company and big people explore it as well and bought bitcoin which makes the bitcoin pumps once again.

Quote from: josgandosbro on March 04, 2021, 10:34:50 AM

Bitcoin prices are not easy to guess. So check the bitcoin price in the marketplace every day then easy to guess the market price. If the price will go down that time to invest. Bitcoin gives more profit and help your future growth.

Yeah, so better to avoid guessing it because you will just waste your time doing that and that makes the bitcoin unique among other currencies.

darewaller

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Quote from: uneng on March 09, 2021, 02:41:07 PM

crypto currency is like humans: unpredictable.

Humans are rational actually because we usually have a reason to get upset or happy while Bitcoin can move in any direction without any explainable reason.

Quote from: uneng on March 09, 2021, 02:41:07 PM

There is happiness, sadness, greed, ansiety, frustration, well-being, euphory, but there is no sure way to know what is going to happen next, or how it will behave until you see it's happening for real.

I don't think that is true unless someone has some kind of mental problem. There is always a reason behind all the emotional states you mentioned. If you are sad you surely had some bad experience or maybe memories to recall. If you are happy you have either gained something or remembered some good memories of past. Anxiety happens when something is pending like waiting for your results when in school.

Anyways, I agree that bitcoin or any crypto moves in an unpredictable and explainable manner so better just go for the value of the crypto you invest than the pricing.

South Park

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Quote from: Kittygalore on March 09, 2021, 03:03:12 AM

Quote from: LUCKMCFLY on March 05, 2021, 10:04:51 PM

When we control emotions and we have a great psychological strength to withstand the changes that are not favorable, we learn much more, more solutions are seen, but it is very difficult to reach that level, I think that this refers OP in the psychological part.

Controlling your emotions only works if you are the trader, the psychological part that OP is pertaining is the people that are making the market move which is the consumers, if you have a general grasp of mob psychology then you can predict the next big stock or in this case the big cryptocurrency or the next pump that you might want to get in before it happens.

Emotional control can also be very useful for investors that are willing to be in the market for the long term, a very clear example of that is the crash we saw in 2017 and the difficult bear market that we had to endure for years, many people that were very bullish about the market left and never came back thinking that the market was never going to recover but an investor that could master his emotions could have been able to see that it was a great opportunity to buy bitcoin for a low price and take advantage of it.

suzanne5223

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Quote from: kotajikikox on March 09, 2021, 03:32:43 AM

deeper understanding and broader mind will bring us to what we are looking for.

Agreed cause having total knowledge about the crypto market is very important not even in cryptocurrency only though.

Quote from: kotajikikox on March 09, 2021, 03:32:43 AM

Bitcoin is indeed not that friendly but if you will only trust the currency then all will come your way, this is not for weak and panic person , because only tough and braveheart will succeed in investing with Bitcoin.

Bitcoin is friendly but the nature of its market is not friendly cause it can choose to pose a trend without any reason behind it and a person who doesn't understand the potential of the currency will never trust it.

Quote from: Kittygalore on March 09, 2021, 03:03:12 AM

Controlling your emotions only works if you are the trader, the psychological part that OP is pertaining is the people that are making the market move which is the consumers, if you have a general grasp of mob psychology then you can predict the next big stock or in this case the big cryptocurrency or the next pump that you might want to get in before it happens.

Control of ones emotion will work if the trader/investor in charge understand the psychological momentum in the price of the market

uneng

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Quote from: spy100 on February 23, 2021, 04:31:06 PM

Crypto is irational /emotional like humans .It's a indicator of or mood.

I agree, crypto currency is like humans: unpredictable.
There is happiness, sadness, greed, ansiety, frustration, well-being, euphory, but there is no sure way to know what is going to happen next, or how it will behave until you see it's happening for real.
That is due to the fact humans are driving crypto currency market without any kind of limitations, interferences or safety measures. Different from stocks market, here you don't have a button to press when the market is crashing, so you can stop everything to keep the prices relatively stable. It's totally a natural ambience, the human nature in its essence.

pinggoki

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So what are you saying is that the way in order to make money in cryptocurrency is trust? Maybe yes? Cryptocurrency is volatile in which you may gain and make money by just staying on a coin or making it as an investments bur the thing is that people are more emotional when they are seeing that the price of the coin that they invest starts to dumps they are starting to scared and gets emotional that it may brings them to pull out their investments although they know that they've lost. What we need to do is to set aside are emotions first so that we can focus on making money through the help of bitcoin.

gatti

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Quote from: kotajikikox on March 09, 2021, 03:32:43 AM

Good to see Post like this that shows concern to many of us , specially the critical way of investing but since it applies all the area of living i must say this is really a hard way of profiteering .

deeper understanding and broader mind will bring us to what we are looking for.

Bitcoin is indeed not that friendly but if you will only trust the currency then all will come your way, this is not for weak and panic person , because only tough and braveheart will succeed in investing with Bitcoin.

Bitcoin, as a cryptocurrency, has been subject to mainstream debate for quite some time now. People analyze its past and speculate about its future for a wide variety of reasons - some people want to know the history of cryptocurrencies, others are curious about possible investment opportunities.Bitcoin, as a cryptocurrency, has been subject to mainstream debate for quite some time now. People analyze its past and speculate about its future for a wide variety of reasons - some people want to know the history of cryptocurrencies, others are curious about possible investment opportunities. It doesn't matter if you make a smart investment and earn a lot of money from it if you have an unsafe wallet that can be easily hacked. That said, choose a reliable Bitcoin wallet.

kotajikikox

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Good to see Post like this that shows concern to many of us , specially the critical way of investing but since it applies all the area of living i must say this is really a hard way of profiteering .

deeper understanding and broader mind will bring us to what we are looking for.

Bitcoin is indeed not that friendly but if you will only trust the currency then all will come your way, this is not for weak and panic person , because only tough and braveheart will succeed in investing with Bitcoin.

Kittygalore

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Quote from: LUCKMCFLY on March 05, 2021, 10:04:51 PM

When we control emotions and we have a great psychological strength to withstand the changes that are not favorable, we learn much more, more solutions are seen, but it is very difficult to reach that level, I think that this refers OP in the psychological part.

Controlling your emotions only works if you are the trader, the psychological part that OP is pertaining is the people that are making the market move which is the consumers, if you have a general grasp of mob psychology then you can predict the next big stock or in this case the big cryptocurrency or the next pump that you might want to get in before it happens.

South Park

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Quote from: Mpamaegbu on March 06, 2021, 03:06:38 AM

Quote from: spy100 on February 23, 2021, 04:31:06 PM

Burn your math / investing / finance and economics books if you want to invest in crypto

That actually got me rolling on the floor, literally. That's true because none of those conventional learning teach stuff outside planned expectations. Crypto is nothing close to that. It's as erratic as they come. The most important thing investing in crypto apart from DYOR is, "the psychology of the mind". Having a mastery of one's emotion is key to surviving in the crypto industry. This is why I laugh at those who invest a few dollars whine because the tokens they just bought are going down in price. The simple logic in crypto is "buy and forget", which in the right parlance is " hodling". It's a bad sign to constantly monitor charts because one is in a hurry to sell off. Don't risk money you can't afford to lose. Again, never treat crypto investment as a get rich quick scheme.

I will agree with the fact there are many books out there that promote a bunch of stuff that does not work, but that is because the people behind those books do not want to teach anything about the economy or the markets, they are interested in selling books and for that they need to appeal to what people want to hear, but there is still a lot of tools out there that can help you become a better trader or investor and we should not discard that knowledge, otherwise we are not going to be as effective as we could be.

TheGreatPython

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Quote from: spy100 on February 23, 2021, 04:31:06 PM

Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.

Crypto market is based on demand and supply. In your words, when the ~~trust~~ demand is less the price goes down and when the ~~trust~~ demand is more, the value goes up.

Quote from: spy100 on February 23, 2021, 04:31:06 PM

when the price goes up people trust it more,when the price goes down they trust it less.

As more investors are coming in the ~~trust~~ demand increases and hence the price. The supply doesn't change much unless there is a whale dumping for some reason.

One thing, I can agree on is that no math or analysis works in this market and really all that matters is how you benefit from either of the bull or bear run. Once the bear run starts if you are smart and buy some coins you benefit and similarly if the bull run ends and you sell the coins at the best possible time, you benefit the most.

Mpamaegbu

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Quote from: spy100 on February 23, 2021, 04:31:06 PM

Burn your math / investing / finance and economics books if you want to invest in crypto

That actually got me rolling on the floor, literally. That's true because none of those conventional learning teach stuff outside planned expectations. Crypto is nothing close to that. It's as erratic as they come. The most important thing investing in crypto apart from DYOR is, "the psychology of the mind". Having a mastery of one's emotion is key to surviving in the crypto industry. This is why I laugh at those who invest a few dollars whine because the tokens they just bought are going down in price. The simple logic in crypto is "buy and forget", which in the right parlance is " hodling". It's a bad sign to constantly monitor charts because one is in a hurry to sell off. Don't risk money you can't afford to lose. Again, never treat crypto investment as a get rich quick scheme.

LUCKMCFLY

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Trading If you have to do much with psychology, in some cases trading depends a lot on how trader's personality is, sometimes letting all feelings that may be feeling and that's when mistakes from traders begin.

When we control emotions and we have a great psychological strength to withstand the changes that are not favorable, we learn much more, more solutions are seen, but it is very difficult to reach that level, I think that this refers OP in the psychological part.

judeafante

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Quote from: spy100 on February 23, 2021, 04:31:06 PM

After years of working with crypto i kind of figure it out how it moves ....

Burn your math / investing / finance and economics books if you want to invest in crypto

Crypto value and volatility is based on human psychology ...

If you understand human psychology / sociology etc you will become very very rich...

Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.

So when the price goes up people trust it more,when the price goes down they trust it less.

Crypto is irational /emotional like humans .It's a indicator of or mood.

That's all to it ...the rest is just Fugazzi,

It's more on FOMO, FUDS, and shills you just follow the news before the market, for every dip, there is a reason behind it for every rally expect adoption or whales making a move, always check the coin or token that is gaining the trust of investors and it's likely to get a pump in the market, you don't need a rocket science to know how the market moves.

shoreno

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i wonder if what is your reaction for years of doing research , hardwork and by using technical tools just to find out that you dont need all of this because crypto works verry simple but thanks for this tips if this is really how crypto woks , you can save many people that are eager to spend bucks just to find out that miracle tools to help them made money in crypto but instead these people may now spend on human psychology courses if ever they are bad as this or wants to greatly improve this ability

iamsheikhadil

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Thank you for this post, I have had very similar observations and hold the same idea when it comes to crypto trading/holding that no matter how much we try to predict the charts, market manipulation etc, the price is directly proportional to fud and fomo and this is what that has acted as pump and dump for years. It's totally based on trust and with growing time, I am sure this trust will grow more Grin

South Park

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Quote from: spy100 on February 23, 2021, 04:31:06 PM

After years of working with crypto i kind of figure it out how it moves ....

Burn your math / investing / finance and economics books if you want to invest in crypto

Crypto value and volatility is based on human psychology ...

If you understand human psychology / sociology etc you will become very very rich...

Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.

So when the price goes up people trust it more,when the price goes down they trust it less.

Crypto is irational /emotional like humans .It's a indicator of or mood.

That's all to it ...the rest is just Fugazzi,

But all the markets move like that, markets do not move by logic they move by emotions, this is why it is often said that fear and greed are the masters of the markets, when greed dominates the markets it keeps going up as people think that it does not matter at what price they buy there is always going to be someone willing to pay a higher price, but then the market crashes and fear takes over, at that point people begin to sell regardless of how much money they have lost since they think that if they do not do it now then they will have to sell for an even lower price tomorrow, in fact this kind of insight is in most trading books so there is no reason to throw them out when you can learn a lot more from them.

dihari

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I can agree with all the statement. Bitcoin is drive by community trust.

Now, if I may add another thing that makes crypto have value and rise the price, it is the technology. If some crypto company bringing a new disruptive technology to its project, people will start believing on those cryptos.
Look how these hype of uniswap, years ago we saw how people crazy with kyber network. The two example is bringing new technology and it's drive its value (price).

After all, crypto makes me understand something. If I want to continue making money on bitcoin (crypto in general), I have to keep learning on something new in blockchain.

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