Following daily speculation will only drive you mad

[TheSeekersLighthouse]

I have followed the Bitcoin development from afar and close at certain times. The daily speculations posts of mooning and the crash and the desperation to be correct seems to be driving many people round the bend. The daily predictions of what Bitcoin will do often turn out to be wrong, these markets are very difficult to predict, whatever anyones' credentials may be.

I have taught 3 English students who spent 12 / 14 hours a day trading cryptocurrency, their eyes never leave the screen for more than a few minutes at a time. The desperation to earn more, the lack of emotion in their voice was concerning. Others in my former class invested their entire life savings.

Me and my uncle had taken a different path, we had invested a small amount every week that we were not concerned to lose. We were and are not worried, even though some of what we bought was near the top ($15k). Because the amounts we invested are not more than we could afford to lose. I started in 2016, and am in profit by a certain margin. My uncle is at a loss at *present*, but still puts a bit into it weekly.

We still put a little bit every week into Bitcoin (and I bought in with NEM as well at 0.07/NEM). We know bitcoin is a long-term and not short-term investment, and we have a threshold at which we will cash out. We avoid the shitcoins. We live our day-to-day lives, things carry on as a normal. I would have much more profit from 2016 had I not used some of my coins to buy stuff with, but that's what it was for right?

I would highly recommend those who are spending all day getting wound up over this to go outside into nature, breathe the air, and carry on living. Store your coins in something like a hardware wallet / 2FA electrum wallet, keep copies of your keys safe and just forget about it bar a certain amount of time every week. I limit my view of Bitcoin-related forums and charts and that to 1 hour per day.

And the other thing, don't be greedy and invest your life savings. For those who have already done this, I won't get all lofty. This is a long-term, not a short-term investment. Ignore the daily speculation posts, they are just someones' opinion and the market doesn't move based on the opinions of a few on a forum or even some so-called 'experts'.

All will be well. Find that balance in your life, and you can enjoy this ride much more.

[geminiboy]

if you are sure that bitcoin is a long-term investment then you will be fine, daily speculation is just a blank stare that you really don't need to follow, you just need to be confident in yourself that long-term investment is the most appropriate decision

[davis196]

Cryptocurrency trading addictioncan be similar to gambling addiction.Those people,who spend 12-14 hours on the computer trading cryptocurrencies have a serious problem.They will have to talk with a psychiatrist.
I'm glad I don't have such mental problems.The bitcoin price does down,but I just couldn't care less.

[Teawhalee]

In recent past,  daily prediction does work.  I mean it follows the normal trend.  But things have changed and such things no longer work again. But people are still blindfolded about the miracles of predictions they keep following it hence,  more loses.  Cut your loses and take a break at the right time. Avoid depression and all sort of bad effect that comes with losing because of the market condition.  Things will surely get better. 

[TBboys]

I don't understand, unless you are a trader, you don't need daily speculation at all. This is very tired for most investors, and it doesn't help at all. Not everyone will trade every day, more people just bought and held for a while.

[antisocial77]

i really dont understand people.now they are talking about bitcoin is dead bubble.im %100 sure that if 1 hour later bitcoin raise up for example 1000$, they are going to talk about revulation, crypto's advantages etc.come on guys.

[Bennix]

Over time,People have been warned not trade,hold and sell as a result of speculation, yet people won't listen.If you could remember as at last year bitcoin was sold at a price of $20000.The funny part of it is you tubers ,crypto influencers and crypto admins on various social media were tellimg people buy adding that  bitcoin will hit $50000.Now,those guys telling us that bitcoin will hit $50000 are no where to be found.Furthermore ,they repeated the same thing by telling us that bitcoin can hit $65000 once Bitcoin ETF is approved this year.Now,the Bitcoin ETF has been postponed to next year being 2019.
These set of people uses the unverified news to buy and dump coins on the gullible people that have no indepth knowledge in crypto.

[Marshall14]

And the other thing, don't be greedy and invest your life savings.

Definitely the best point by far to point out,greed is essentially the undoing of most investors,who food hardily invest in the bitcoin or in a project with more than they actually can afford to lose,its basically nerve racking,and blood sucking to do that,if it comes out good,as most will hope, then it's boom,as gains/profits as we'll always say is commensurate to your investments..
But when it turns out bad, it could definitely ruin one and end such investor into debts he or she will struggle to pay..
It's best to always keep things simple,spare money, spare money,you make extra money, then an increase in the spare money....and so on and so forth

[Marcel666]

We are all told the general rule to invest what we can afford to lose, but in reality no one likes loosing any amount of capital. Of course we should never go all in, but there is no fixed range around 'what we can afford to lose',  I consider it to be, amounts that won't change our diaky pattern, or standard of living.

Investors should not be concerned about daily, intermittent price fluctuations and the accompanied price speculation.
Bit day traders can not escape the pressure of the market volatility, best to find a way to separate emotions when trading

[muslol67]

I think we have to know that so many less people has a information and idea about Bitcoin really. On the other hand so many people doesn't know anything. And they believe what they read. But internet full of a garbage info and comment about cryptocurrencies.

[posi]

You're definitely right OP because I have experienced it either back in the year 2016 when I joined this community. Although, the market was gaining an upward trend then but if I dont followed daily speculation of the market price I wont have sell 80% of my holding before the ATH price and this is why I dont encourage day trader for people who are too emotion or not.

[nahotachikwem]

Yes i  concur  with you. Ignore the daily speculation posts. Bitcoin is a long time investment.

[Red-Apple]

you should know that there is a big difference between someone who is actually trading and then speculating himself based on his knowledge and experience of the market and someone else who has no experience or knowledge of the market but only follows others like a sheep.

the first one is successful and he will continue doing it daily while making a lot of money and become rich in a couple of years.
while the second person will lose his money just because he was a sheep and was "following speculating of others".

[sudeshkumar]

This is the market where we need to be speculative and aware what is going on with the coins meaning thereby remain away from emotions to be healthy.

[Screamshot]

There has been speculations after speculations I have come to start to ignore some the market is bad at the moment and we hope it doesn't stay like this for too long