The cryptocurrency market is known for its swift movements, which can often lead to impulsive reactions. When you wake up to a sea of red in the market, the instinct might be to either rush in to buy or hastily sell. However, the best response often involves taking a step back. It's essential to learn to recognize warning signs that indicate you should pause and reflect before making decisions.
Investing in Bitcoin or cryptocurrency in general is more of a marathon than a sprint. You'll likely be part of this market for many years, and during that time, you'll witness significant fluctuations.
If you ever catch yourself hurrying to make a trade – Pause.
If you become irritable when someone interrupts you as you analyze your investments – Pause.
If you're consumed by doubts about whether buying or selling is the right move – Pause.
If emotions start to dominate your decision-making – Pause.
Your decisions should be made thoughtfully. You should have clear reasons for buying or selling a specific cryptocurrency and how it aligns with your overall strategy. Make choices based on your strategy's principles.
Whenever you feel rushed and find yourself making decisions without considering your strategy, step back and take a break. Return when you can approach your decisions in a deliberate manner.
Perhaps all you need is a short coffee break, or maybe you should step away for a day or even a week. Your portfolio will still be there when you return. Remember, you're not a day trader. You don't have to react to every minor market swing. Not a single day in the market should make you feel like you're racing against time.
One of the advantages of the Dual Investment Strategy, which I've discussed before, and it doesn't really demand constant attention. You can set up your portfolio, step back, and live your life, checking on your investments when it's convenient for you. Let your life schedule when you review your portfolio, rather than letting the market dictate your life. There's nothing in this strategy that necessitates an immediate reaction to market movements. Just because the market is moving rapidly doesn't mean you have to follow the crowd blindly. The same holds true for the Dollar Cost Averaging (DCA) method.
Actually this is one thing that some people don’t really put into consideration, don’t be greedy stop your investment when it is right. The DCA method is equally there to help and I also use smart portfolio bot on Bitget to rebalance my assets. |
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I have a fair knowledge about Bitcoin and cryptocurrency. I can hold down a good conversation in it however when it comes to trading, I have come to the point where I need to up my game. After using a mock trading app for some time, I stopped and tried the live environment. I lost money. Since then I have done some trading again. I feel I need to get back in the game. Right now I am coming in with a different strategy which is a mentor. Yes, I need a mentor in this renewed trading journey who would teach me the practical aspect of it. Because any of us can easily quote the theoretical knowledge of trading.
What is the best reward for mentorship? How do you think I should reward the mentor when I have one? And how often should this be?
If you guys can give me some ideas, it will help me to take charge of the conversation when I meet with the potential mentor.
Thanks.
I’m not sure but as a good professional trader you have a lot of opportunities. You can join any copy trading exchanges and apply as an elite trader once you have a good track record you will be selected and you can earn rewards. Though for you to be selected you must be exceptional good, exchanges like Bitget will make sure you’re up to standard before you can be selected, which is one of the reasons why Bitget has recorded a lot of success in their copy trading function. |
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There are many people who trade on BitcoinTalk forums. Those who trade must control their emotions. If not, you will have a huge loss in trading. Why emotion is needed while trading is as follows:
1. Profitability: Profitability in the crypto market is very dynamic and variable. Traders' emotions create interest and excitement about their profits.
2. Volatility: The crypto market is volatile, i.e. prices can change rapidly. Having emotion with this position can help traders as it is important to make timely diagnosis.
Here are some ways to control these emotions:
1. Don't expect much profit. For example: You think that you will become rich by investing in a coin.
2. After you have invested in a coin, you find that for some reason it has gone down in the market. At this time, without being emotional, you first look at the condition of the token, what condition it is in, and then take a decision with a cool head.
3. Avoid revisiting a coin after investing. You place a sell order with a specific target.
4. Trade according to market conditions. Don't immediately invest in someone's words.
5. Stay calm and try to control temporary emotions.
I feel the fact that human being attach emotion to their analysis is why most times technical analysis done by a bot might be more better than that of an human. Over time the bot trading has been making wave and attracting users attention due to the good performance. Most users who traded with Bitget bot trading has been giving good reviews and tends to prefer bot to human analysis. |
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Trading is most times profitable and sometimes challenging to traders, but it can ruin you just as gambling if you don't know how before venturing into it, I have had a handful of terrible experience while trading and I discovered that it can return you to square one in terms of your finances if precautions is not taken.
Though am a better trader now, but I still thred with caution, the best way for newbie to navigate their way in the market is to buy and hold, then sell when the price goes up.
When it comes to future market, newbie should stay off because it's for experience traders, even if you run a poll of people to tell of their experience in trading in this forum, %80 of people will rule out trading as a no go area based on their terrible experience while trading.
So newbie, stay of trading futures if you know nothing about technical analysis or fundamental analysis for not to be ruined.
Thanks for this advice. Trading has a lot of risk and everyone needs to understand this especially the newbies, if you don’t have the right understanding of the volatile market please don’t go into trading, only if you have a good understanding only then you can trade do not be too anxious to make money. Although few exchanges offers help to the newbies who doesn’t have the understanding of the volatile market, the idea is to help newbies to make profit through trading, by this copy trading was introduced in order to help users who doesn’t have good trading skills to copy trade from professionals and make profits. |
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I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you
Actually buying and hodling has a lot of advantages than just trading alone. I’ve been hodling some assets on Bitget exchange for some periods now and at the same time I’m using the same asset for flexible savings on Bitget’s shark fin product in order to make interest of up to 7% on my savings every month. The recent upsurge in price came and my asset also increase while I still earn my monthly interest, for these reasons I prefer to hodl than just to trade alone. |
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did Binance just announce they're finally jumping on the copy trading feature? I mean, kudos to them for catching up, but seriously? Copy trading wasn't a thing on Binance before this? I genuinely thought Binance had this feature ages ago.
But hey, better late than never, right? Now that Binance is stepping into copy trading, I'm curious: Who was actually the trailblazer in bringing this concept to the spot market?
This is the first time I’m getting to hear Binance has copy trading. I have always known Bitget to be at the fore front of copy trading in the crypto space. |
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The crypto market has a high level of volatility. Anyone who is about to make an investment needs to have a good understanding of the volatile market. Now the question is, even with volatility, will you still choose to make your investment in fiat through bank savings with regular monthly interests or rather make your investments in crypto where you hold your asset and still have the opportunity to save and make monthly interest?
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Have seen a lot of threads talking about the bull market, and everyone making comments.
I don't think selling all bitcoin in the bull market is a good idea. Why? Knowing the fact that the next bull price will still come as bitcoin continues to grow, so I don't think selling all my bitcoin in the bull market is the best.
Everyone is holdle bitcoin in the bear market and planning to sell in the bull market, now, when finally, the bull market comes should I sell all my bitcoins and prepare to accumulate from afresh in the next bear market again? or should I keep some percentage to continue the accumulation?
Actually for now selling is not the best option. The bull is yet to come but you use the opportunity to trade and make more profits. If you don’t have much knowledge of the volatile market you can use exchange like Bitget to copy trade from elite traders. |
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Bitcoin investment, this is the opportunity for someone who wants to invest in bitcoin to invest in bitcoin without looking back, because anyone that invest in bitcoin now will make a profit during bullrun, the price of bitcoin is fluctuating and it does want to up since the price has being to twenty six thousand [26] is over one month or less than one month the price is being unrotational for price, I think that any one that plan to become a billionaire in bitcoin this is the opportunity to invest in bitcoin against next bullrun.
The way I'm looking at next bullrun am thinking that the bullrun will be something that will push bitcoin price to approach hundreds thousands [100] for the price, but people will not invest now. I split my funds currently to different of coins expecting that if I don't make profit in any of the coins when bullrun comes I will surely make profit in bitcoin because bitcoin price now is no longer going downward or going upwards, but any move the price will make to go up the price will increase, I'm expecting the price of bitcoin to rise in 2025 and 2026 so any investment in bitcoin should be expected till next two years or three years time. Summary, invest in bitcoin and forget about the investment and hope that you will make profit after some years coming.
Investments are basically from money you don’t need urgently, so you should be able to take off your mind off it. There are some other investments that gives you opportunity to make money even as you still hold your asset just like Shark fin product of Bitget where you can make up to 7% APR in a month. |
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First of all I am the only person in my area who has a basic understanding of Bitcoin. That is, in the region where I live, no one but me knows about Bitcoin.
The maximum number of friends I hang out with are unemployed. They are not uneducated they are all well educated in their respective positions but due to lack of adequate facilities they are unable to find any employment. When we walk together I talk to them about Bitcoin but they tell me that they have only heard about Bitcoin on various social media and they think that if anyone is involved in Bitcoin, the administration of our country will arrest them. Because it is through this kind of news that they are aware of Bitcoin. But when I tell them that I have a rough understanding of Bitcoin. Then they don't want to believe me when I tell them all about bitcoin they believe me. And I assure them if we all get involved in Bitcoin maybe our unemployment will go away. Because there are enough ways to earn money with Bitcoin.
Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?
Hope you guys can give me proper feedback on this and help me move forward in helping them.
Educating our friends on cryptocurrency and the advantages is one of the best of thing we can do to help promote majority acceptance of cryptocurrency. |
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That's how it is! This announcement was left for the end of the 2021 Bitcoin Conference with the participation of Jack Mallers. Among the most impressive that helped me understand why bitcoin will be the currency that will lead the country of El Salvador is this. At the conference the president of El Salvador makes the announcement. This is a good step, I hope other countries are going to emulate this in order to make their own decision. Exchanges equally have their part to play in this, the recent initiative of Blockchain4Youths by Bitget is another bold step to ensure majority acceptance of cryptocurrency. |
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I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit. Also, Bitcoin halving in 2024, investment during this time can be very profitable. With that in mind, I suggested buying bitcoins instead of buying iPhones in my local thread. I searched among my friends to see if anyone would buy an iPhone, finally one of my close friends lives in my country's capital. Working in a good company and getting salary of $500 per month. Buying that friend's iPhone is easy. He came to visit my house a few days ago. My friend had a $200 normal phone, one time I talked to him he said he was going to buy an iPhone 15. I can't knowingly recommend my friend to buy an iPhone. I got good knowledge about Bitcoin, I suggested my friend to invest in Bitcoin thinking about his future development. Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth. DCA is good though but most newbies lack the understanding on how to use it. Users should try as much as possible to study and understand the volatility of the crypto market in order to help prevent loss. Also there are some functions like Bitget smart portfolio that helps to automatically rebalance your asset in order to prevent loss. |
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Recently, we have seen many big institutions, like Black Rock, Invesco, Fidelity investment, Ark Investment, WisdomTree, JP Morgan Chase, Goldman Sachs etc take an interest in bitcoin. The hottest application in the show is the BlackRock ETF application which many think is a catalyst for bitcoin. Historically we have seen how big companies tried to take control of the bitcoin network but failed miserably due to a lack of strong support. Controlling the network seems like a major interest for the institutions. This time not only institutions but also the US government are on the list due to their anti crypto policies. Though the SEC claims that bitcoin is a commodity, they still consider it a threat to their financial institutions. They can’t allow such financial freedom among their residents as they fear they will lose control over their people which will diminish some billionaires interest. If you read the Blackrocks ETF application then you will see there is a clause that states that This means blackrock can determine which network they will consider the appropriate one so it is reasonable to think they might think about pushing another bitcoin hardfork and setting their own rules to consider it the appropriate network. However BlackRock is the 2nd largest shareholder of the top 4 bitcoin mining companies which share a significant portion of the bitcoin mining profit and can also decide which bitcoin network will come first. All this is speculative thinking and might never happens but with the influence and wealth blackrock like entities hold it is not impossible to try to do anything like this. I don't know this topic has been discussed in the forum before or not but i am curious to know what the community thinks about its. - Do you think this can be a secret operation by the us government with Blackrock to take control over the network or is this just nothing more than speculative thinking?
- What will the impact be do you think if they try to do that in the future?
Source: https://blockworks.co/news/blackrock-bitcoin-etf-wolfThe possibility of this seems very hard and come to think it, right from on set Bitcoin has been staying strong and there might not be anything of such even in the next 30 years. |
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How will it affect your life if bitcoin price comes to $1 million per bitcoin ?
Actually at this point even with the current bear market, everyone should understand that you shouldn’t use your life savings to invest. Your investments should be money you can loose, also do not invest without having good knowledge of the volatile market. |
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I am not suppose to say this here but i want forum members to advice and tell me on how I can go with my bitcoin journey as a newbie and become successful in it without losing my bitcoin. My Dad is late and he left us a building which I and my siblings inherited. I rented my own apartment because I stay in a more civilized area. Whenever my tenant pays me my rent, I just keep the money in the bank and sometimes it stays there for more than six months in my account because I have a job that takes care of my responsibilities. This year when I joined this forum, after reading through topics and comments from forum users on bitcoin investment, I said to myself that it will be wise if i give bitcoin investment a trial and see how it will feel like holding a bitcoin.
Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest. I continued with my forum activities and kept on reading, at a point, I got to realize that what will I gain, if I have the knowledge of bitcoin and I don't invest in it to have the experience on using bitcoin and to also have the experience of holding in long term, so that i can talk about bitcoin from experience. This means that it is important for me to buy bitcoin to acquire more knowledge,and this will be an advantage for me to buy bitcoin now that the price is dip, before it pumps back. Yesterday, I used 60% of the money my tenant paid me to buy bitcoin and I was relieved and happy. I have also created an electrum wallet which I have transfered my coins into, the reason why I chose electrum wallet because it is noncustodial with RBF and Ligthening Network features, which can allow you to double spend,incase the network is congested and your transaction fee is low,since sometimes bitcoin blockchain used to be congested with dust transactions.
I intend to hold by bitcoin for long, because I just started my bitcoin journey and, I know that it isn't going to be an easy one for a newbie like me. I will use 10% of my income to DCA every month, because I also noticed that fiat currency is depreciating due to inflation and that it is better that I save in bitcoin than to keep it in fiat. The moment my bitcoin reaches $1000, I will look on how to transfer my coins to a cold storage wallet for safety. I couldn't keep this to myself and I said let me bring this to the forum for advise from experienced members on precautions I need to take for me to achieve my bitcoin goal target.
If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.
Let's discuss.
Bitcoin investment is really good when you have good knowledge of technical analysis, there are some opportunities like DCA in order to help you make profit. Also those who aren’t familiar with DCA can make use of some functions like Bitget smart portfolio in order to help manage your assets automatically. |
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It's time to share your experience.
(choose one question and share your thoughts)
4. Did you also have the "get rich quick" mindset. I bet it slowed down your learning process.
I never had that mindset actually but I really wanted to make money too, I ran into some losses then but along the line I learned and learned again now I have good understanding of the market, also the Blockchain4Youth enlightenment program helped me out a lot. |
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It's time to share your experience.
(choose one question and share your thoughts)
3. what would be your advice to the newbie still trying to figure things out?
My advice for the newbies is for them to DYOR. Make sure you do thorough research before buying into any project and also make sure you take your time to learn. |
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It's time to share your experience.
(choose one question and share your thoughts)
2. tell us how your journey in cripto has been.
My journey within the crypto space was tough though but now I’m really enjoying the process all the effort I’ve invested. |
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It's time to share your experience.
(choose one question and share your thoughts)
1. what helped you blend into this space?
Blending into the crypto was really a tough one but glory be to GOD at last I’m in. I faced a lot of issues ranging from unfriendly crypto exchange interface until I finally started using Bitget exchange which has a user friendly interface. I equally faced the problem of understanding the volatility of the crypto market. Learning and practicing has been my system and today I’m really good at most of the things I do in this space. |
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It's time to share your experience.
(choose one question and share your thoughts)
1. what helped you blend into this space?
I’m sure everyone in the crypto space knows how it feels to be a newbie without anyone coming to your aid even when you’re doing the wrong things. Issues ranging from unfriendly interface of some exchanges, the whole concept of cryptocurrency occurring like a jargon at every slightest moment one is trying to understand it. Anyways I was a able to pull through due to consistency and choosing the right exchange. One major thing that helped me the most is getting to choose a user friendly exchange after so much stress, that’s one of the reasons Bitget exchange is really making wave in the crypto market. |
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