Bitcoin Forum

More people are panic because of bitcoin's low price. Don't you people know that Panicking will only result you to sell your Bitcoins although the price is low. "What should we do if bitcoin is down?" This is the common question from most of people Panicking. Well let me answer that question once for all.

As we can see, whenever bitcoin is down to less than 9,000 usd. We consider this price as a low price for bitcoin and this is the time where people starts to panic.  Well, WHENEVER Bitcoin is down, Don't waste your time to panic, instead use the opportunity to buy bitcoins if you can. Buying bitcoin at this situation is highly recommended as it will be a big PROFIT in the end. Like I always says, there are two equations used for buying and selling strategy. But what should you follow?

Don't
BUY BITCOIN WILL LOW PRICE + PANIC + SELL BITCOIN WITH LOW PRICE = LOSS

Do
BUY BITCOIN WITH LOW PRICE + HOLD +SELL BITCOIN WITH HIGH PRICE = PROFIT

The only key to success in bitcoin industry is to be PATIENCE. Yes, ofcourse we will risk. But the only risk in Bitcoin is if the price has been dragged down and you sell your bitcoin with that low price. Then it will really result to loss. But if you Just keep your patience up, hands on your pocket and relax plus wait for bitcoin's price to go back up, then the return for sure will be a good benefit.
But, it still depends on you on how you manage your Bitcoins. This is only a suggestion.
Sometimes, we really need to learn how to wait, because rashing things can't solve the problem :)

Please prove me wrong and I will lock this thread immediately. Having you with my side is my pleasure.
I hope it gives you some idea to what to do whenever you panic :)

I think there is a part on your post that should be corrected. You say:


I guess you wanted to say: Don't buy bitcoin with high price ... etc.

I must say that I like to trade, and I have a small bankroll for trading, but I also believe in bitcoin potential so I hold the majority of my coins. It's not much again, because I started quite late, and bitcoin was already expensive, which means that I'm actually losing a lot from my initial investment but I'm not willing to sell them, because i wish to use them in the future as a decentralized payment system.

Since you posted this in the bitcoin discussion board and not on the trading board, I will talk in a project perspective and not a trading perspective.
I think that you should actually advise people not to sell bitcoin, because in terms of fundamental analysis, bitcoin is actually improving, and this means that it's price should be going up and not down. Lighting network is near, regulation is actually being more friendly, so we are opening the road so that adoption can happen. From an investment point of view, bitcoin is better than ever, and should have a good future ahead. This means that buying bitcoin is probably a good investment. I know I believe in that, and for that reason I will keep buying every time I can.

You shouldn't really focus on price that much. The reason people panic sell, is because they have no idea on what are the fundamentals of bitcoin, and it's intrinsic value. This way all they get is it's price, and since it's coming down they fear it.

Yes, that is the right decission.
When the price is down, you buy more dips instead you panic selling.
panic selling won't do any good for you, only loss.
but unfortunately most of peoples don't understand this, they panic very quick and sell their coins.

Thanks for bringing this out. I could also apply this to myself. The last time i panicked it turned to be bad.

This is only applicable to newbies in trading. And also to those who bought with something that can't afford to lose like selling a house, a car or even their retirement plan. But if we only educate ourselves first before entering and buy only with our spare changes, there's nothing to be panicked. I panic more when my wife's mood swings compare to bitcoin's.

The mind is playing with you when you invest something valuable. If we know for sure that it would go up then earning would be way different then that we have now.
It is much easier if you believe in it, but many people don't believe and many people don't care about it, they just want profit and that's why they don't understand.

I agreed with your views. The motive behind these fuds is to make people panic and sell bitcoin at the low price. It is important to stay calm and hold on to bitcoin if we believe in the future of bitcoin.

sadly many peoples when it comes, they will panic selling their coins instead buy more dips.
seems like the fear is stronger than the will. if it keep continues, bitcoin price will going worse.

Yuph, and people always fall easily to FUDs. They didn't even think that it is just a test if they are capable of holding their Bitcoins. Panicking will only result nothing but loss for sure, but why people can't even noticed that? It is a simple logic to be solve but it seems they're not even thinking of it. I know some people has their own will to what to do to their Bitcoins and some people has their own reason why they sell bitcoin although in a low price, but the people Im talking about here are those people who fear Bitcoin's low price. Sometimes not asking for help from other will only result negative/bad. They must ask for some tips to other members instead of Panicking.

If this really continues, more people will suffer huge loss. And that is a bad news as I'm concerned to them.

That is also right Mr. Bolt. But sometimes people Buy bitcoins with low price and sell it with lower price and that what makes them go home crying. Because it's totally a loss.

The real scenario is that most newbies experiencing is not because we never give them advices of what should be done but they don’t really listened. They keep this losses on themselves and they can’t blame anybody about it because it is all they’re fault that leads them to failure. We do give them the benefits of the doubt that they knows what they’re doing and just made mistake because of inexperienced, but sadly they never learned.

Would suggest that for those who are not very familiar with bitcoin, they should have to learn the basic knowledge of what bitcoin is and how it works before they engage into investment right away. Learning first and familiarization  is the most important key to become successful in your goal. In the event where you will encounter price dip,  you should hodl your coins and wait for the price to be back on track to avoid loss with your investment.

the big problem these days is that people think they are traders and they think what they are doing is called "trading" but in reality what they are really doing is gambling and because of that they keep panicking and believing all the bullshit they read online. someone tells them price will go to moon, they buy and when someone tells them price is getting dumped to $2000 they dump like an idiot.

if people started to use their brains more, price would have fallen anyways but it would have never been such a big fall. same with big dumb rises.

at this point all you have to do is be patient waiting for the bitcoin price to go up again. we must hold bitcoin at this time because if selling bitcoin now it will be very loss. I think if having a lot of money is better to buy bitcoin at a cheaper price than to sell bitcoin.

this really hard not to panic if you see half or more of your investment gone in few days. Stop loss is hard to use when trading crypto because of high volatility and I do it only occasionally when have to sleep and market conditions are bad.

You say buy cheap and that is true but when is cheap? Today 8154 or yesterday 7600? Even if I buy today cheap it can easily go deeper to 6000 or even 5000$. We are in the bear market for 3 months and I think there are still 2 or 3 months to go after such a long bull run.

I think we have to wait for good confirmations of market direction change before investing back in BTC or any other crypto. There will be full of bull traps in incoming months. Let's wait and try to pinpoint the exact time to invest using available tools and market rumors.

I wish you all luck with investing.

Decisions took in the panic situation often results in the loss making decisions so one should keep rational approach in such situation. Since I am less trader and more investor, I do consider the long term outcomes while taking any decision but in most of the cases, the panic situation never lasts long so holding is the best choice for me in such case and as a human being, I have to control FOMO in this case, it works.

To be honest, It is easy to say than done especially to those who are new to trading. Emotions are hard to control and especially in a situation like the sudden drop of rates. When money involves it is hard not to overthink given that it is the only investment you have. Though, everything can be learned, it will take time and a lot of effort just save a lot of patience as well.

Very true, and moreover it is not only a problem of involving emotions, the other problem is that you really don't know the future, so you have no way of telling if it will go up or down, against your position. So it is very easy to write such advice post factum.

You no wrong, but the price of the bitcoin has a sharp decline, so you need to consider things not panic selling bitcoin, but when to continue to buy bitcoin, this is the most important. ;D

Well, actually that's what I'm doing now I did not panic and staying calm, because it will not help me if I worried about the fallen price now. Honestly it's easy to do in the members of bitcointalk on what you says, many users are all they know on what should be do. But this is useful for a beginner to know that on what should do.

It is very logical. But such tactics are not always applicable. It all depends on what strategy the user has chosen. Those who intend to holding coins for a long time really should do so. But traders will never do this. They instantly sell coins when the trend is down. For them, it is better to fix the loss at a low level than wait for the dump on the market and freeze their funds.

Averaging down is one of the oldest strategy in the market. This is one of the reason why seasoned traders usually do not go all in on one stock/coin because they know things could go south. If things went downhill they still have the money to average down.

The problem with newbies is they do not know this strategy or they already have spend all their buying power and will be scared to add more.

There are different reasons why people sell their BTC. To gain profit, you should be able to anticipate and have a good timing in the market - buy low, sell high, equipped with patience and goals with the best strategies applicable to your risk tolerance which can be modified accordingly.

Well, before buying and making panic ask yourself first if is it worth to sell your bitcoin now that the price of bitcoin dumps and you don't know what will happen next? Some people are really don't like to take  risk, they are just after the benefit that they can earn but in time of tough time they do panic at all.