Bitcoin Food for Thought!!! (Bear Market Special)

[tygeade]

There are a lot of panic sellers now and it seems majority are selling below their buying price driving the price even lower. This is a difficult situation for holders for sure because it takes a great deal of effort to be calm in this period. However, those who have long term goal in mind won't worry so much about this dip, only short term investors can't stand it.

To me, 2 years is not such a long time to wait, compare to early btc investors who have been holding btc since 10, 8, 6.... years back and still holding strong. The problem is lack of patience.

This is the period when the popular saying "i believe btc will raise to surpass previous ath" is put to test. I mean since we all know this and history has also shown it to us anytime btc dip what happened next then why people panic so much like btc end has come!

I do have patience and I can wait for sure, but the idea that we will have to wait years, when it was such a close period to buy and hold and profit, right now it feels like we are years away from that does upset me a bit. In the end we are going to profit for sure, and that is why I am feeling fine, but that doesn't change the fact that I have been involved with crypto in much better periods as well and obviously I love those periods a lot more.

This is why I prefer that we would be in a bull run a lot sooner, keep going down doesn't mean I will make a loss, but it means that I would be sad and I would rather see it 100k+ obviously, that is a lot better.

[pawanjain]

~
That hit me hard. It's the same people like us who "bought back" at right times multiple times and are now the whales.
I never sold my bitcoins. I only sold some of them when I had the necessity but otherwise I kept HODLing on to the rest.
If only I had sold and bought back then I could have accumulated more coins. But then I am happy to not lose those coins by not buying back.
I still have a chance to buy more right now while it's low and keep accumulating. May be I may sell later at peak and buy more later again.

Beware that you have to find a good balance between selling, buying, buying back and HODLing. After all using exchanges is always risky, trading is an extra risk on top of it. I personally dedicate a small portion of my bitcoins to trading which is why when Bittrex scammed me and stole my coins I wasn't devastated, that was simply because I was trading with a small amount that I could afford to lose.

If you get over that, trading could give you some good profit. For example I sold a small amount above $30k and bought back above $20k and I'm happy with the profit I earned regardless of what the price currently is.

So that basically means you have a little portion of your portfolio on an exchange for active trading while the rest is in a wallet.
So a major portion of your portfolio is still untouched which again means your portfolio must be down by 70% too.
Does that make you feel stressed or haven't you wished that you could have sold all of it above $60k and bought back around $30k.

[Henrobakkara]

~
That hit me hard. It's the same people like us who "bought back" at right times multiple times and are now the whales.
I never sold my bitcoins. I only sold some of them when I had the necessity but otherwise I kept HODLing on to the rest.
If only I had sold and bought back then I could have accumulated more coins. But then I am happy to not lose those coins by not buying back.
I still have a chance to buy more right now while it's low and keep accumulating. May be I may sell later at peak and buy more later again.

Beware that you have to find a good balance between selling, buying, buying back and HODLing. After all using exchanges is always risky, trading is an extra risk on top of it. I personally dedicate a small portion of my bitcoins to trading which is why when Bittrex scammed me and stole my coins I wasn't devastated, that was simply because I was trading with a small amount that I could afford to lose.

If you get over that, trading could give you some good profit. For example I sold a small amount above $30k and bought back above $20k and I'm happy with the profit I earned regardless of what the price currently is.

So that basically means you have a little portion of your portfolio on an exchange for active trading while the rest is in a wallet.
So a major portion of your portfolio is still untouched which again means your portfolio must be down by 70% too.
Does that make you feel stressed or haven't you wished that you could have sold all of it above $60k and bought back around $30k.

Even though I do understand what you are getting at, Investors and traders alike have their different reasons for how they keep their cryptocurrency assets, whether in the CEX or in personal wallets. That said, the same way you think of it, people could have sold at $60k and bought back around $30k, but we have noticed that the market dropped way below that to around $17k+ actually, and if you have bought around $30k and still seeing the market continue to drop wouldn't you have panic sold again? Thinking you could have sold around $60k, most people didn't believe that the market was going to go full Bear mode from there, in fact, people were still saying it would reverse to $100k but that didn't happen.


 

[sklopan]

In fact, now the entire market is food for thought. Do not think that bitcoin is the only place you should pay attention to. This is rather the tip of the iceberg.

[pawanjain]

Even though I do understand what you are getting at, Investors and traders alike have their different reasons for how they keep their cryptocurrency assets, whether in the CEX or in personal wallets. That said, the same way you think of it, people could have sold at $60k and bought back around $30k, but we have noticed that the market dropped way below that to around $17k+ actually, and if you have bought around $30k and still seeing the market continue to drop wouldn't you have panic sold again? Thinking you could have sold around $60k, most people didn't believe that the market was going to go full Bear mode from there, in fact, people were still saying it would reverse to $100k but that didn't happen.

You are actually right because I could have done the same thing yet I didn't do it because even I didn't expect the market to go full bear mode.
In fact, now I remember making a prediction when the market dipped below $40k and recovered to $47k that the market will keep rising from here.
But eventually it dumped harder and here we are now. Expect the unexpected because that's what crypto is.

[taufik123]

You are actually right because I could have done the same thing yet I didn't do it because even I didn't expect the market to go full bear mode.
In fact, now I remember making a prediction when the market dipped below $40k and recovered to $47k that the market will keep rising from here.
But eventually it dumped harder and here we are now. Expect the unexpected because that's what crypto is.

it's very normal, your predictions are not completely wrong, it's just that right now the market is being manipulated by those who have a lot of money. Especially with several FUDs that have been distributed, making the market situation even more chaotic.

No one expects the Market to be in full bear mode, except for those who are ready with the rest of their money. Crypto is unpredictable, anything can happen in crypto overnight. We must be smarter to make strategies and make good money management. After a bear market there will be a bull market. Don't think too much about it, just go with the flow.

[virasisog]

You are actually right because I could have done the same thing yet I didn't do it because even I didn't expect the market to go full bear mode.
In fact, now I remember making a prediction when the market dipped below $40k and recovered to $47k that the market will keep rising from here.
But eventually it dumped harder and here we are now. Expect the unexpected because that's what crypto is.

it's very normal, your predictions are not completely wrong, it's just that right now the market is being manipulated by those who have a lot of money. Especially with several FUDs that have been distributed, making the market situation even more chaotic.

No one expects the Market to be in full bear mode, except for those who are ready with the rest of their money. Crypto is unpredictable, anything can happen in crypto overnight. We must be smarter to make strategies and make good money management. After a bear market, there will be a bull market. Don't think too much about it, just go with the flow.

Different seasons will always approach the market and we must have the courage to deal with them. We can predict yet we can't control the possible things that could happen so we must always be ready for it. Cryptocurrency is volatile and the prices seem like a roller coaster ride and if we aren't emotionally prepared for the possible changes, we could lose a lot.

[taufik123]

You are actually right because I could have done the same thing yet I didn't do it because even I didn't expect the market to go full bear mode.
In fact, now I remember making a prediction when the market dipped below $40k and recovered to $47k that the market will keep rising from here.
But eventually it dumped harder and here we are now. Expect the unexpected because that's what crypto is.

it's very normal, your predictions are not completely wrong, it's just that right now the market is being manipulated by those who have a lot of money. Especially with several FUDs that have been distributed, making the market situation even more chaotic.

No one expects the Market to be in full bear mode, except for those who are ready with the rest of their money. Crypto is unpredictable, anything can happen in crypto overnight. We must be smarter to make strategies and make good money management. After a bear market, there will be a bull market. Don't think too much about it, just go with the flow.

Different seasons will always approach the market and we must have the courage to deal with them. We can predict yet we can't control the possible things that could happen so we must always be ready for it. Cryptocurrency is volatile and the prices seem like a roller coaster ride and if we aren't emotionally prepared for the possible changes, we could lose a lot.

a volatile market like a roller coaster is very real, when the market goes into bearish mode as it is today, many people will panic why the price keeps dropping. but now is a good opportunity to increase their assets.
Psychology will indeed affect us if we are not ready, therefore good management is needed so that psychology is not disturbed. Panic too much will only do harm.