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Author Topic: Mental barrier stops from buying BTC  (Read 3503 times)
TechBench
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September 09, 2017, 04:35:31 PM
 #41

You should define how much you want to multiply, get a sum of money that you do not mind losing, buy cryptocurrency, believe in success and just wait until it reaches how much you wanted.
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September 09, 2017, 04:37:37 PM
 #42

Fiat is still king though, many of those investor are concern more about short term profit so there would be fluctuation regardless of the popularity.

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September 09, 2017, 04:57:53 PM
 #43

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

My mental barrier is not so much the price increase, but more the hard fork situation in November/December.
I do not know what to make of it. My gut feeling tells me bitcoin has not disappointed me so far.
My head sees the numbers of 2x supporters amongst miners that show a large majority.
My head although sees that head and gut feeling go different ways and tries to warn me this is might become a mess.
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September 09, 2017, 06:09:46 PM
 #44

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

My mental barrier is not so much the price increase, but more the hard fork situation in November/December.
I do not know what to make of it. My gut feeling tells me bitcoin has not disappointed me so far.
My head sees the numbers of 2x supporters amongst miners that show a large majority.
My head although sees that head and gut feeling go different ways and tries to warn me this is might become a mess.

well there are precautionary measures to be followed if a fork will happen and yes predicting what will happen after that is just plainly impossible so lets

not overthink things because it tends to cause panic resulting in bad choices. look what happened on august first, most people think that bitcoin will

really fall because this side is superior comapred to that side and so on--unending debate but hey since no one in this community wanted bitcoin to downgrade,

another solution arose and now we are happilly living in 4k. mental barriers are there but you can always defend yourself from it

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September 09, 2017, 06:29:35 PM
 #45

I know how it feels but I haven't faced any such situation yet because I believe that Bitcoin will give exponential growth in the long term so these short term prices and volatility is absolutely nothing considering that long term gain. The case is same in trading too, you have to deal with your emotions in order to have a rational approach towards your investment and the market behaviour.

On the other hand, I go with systematic investment plan which emphasises on buying in a smaller amount at specific intervals of time so your question is not relevant in such case.
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September 09, 2017, 06:31:22 PM
 #46

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

Actually this shows the resilience of Bitcoin. The demand is so great that even corrections are getting watered down now. The recovery in prices is made in a matter of few days, compared to many months earlier.
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September 09, 2017, 08:20:24 PM
 #47

comfort breeds weakness, that is what I always tell to myself. Sometimes we have to get out of our comfort zone if we want to reach new heights, think of failures as opportunities to learn.  Wink

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September 09, 2017, 08:31:01 PM
 #48

The problem is if you make it too complicated, if you think too much about the buying process or read too much FUD then you will start believing that maybe Bitcoin is a scam, or it is going to crash to $0, or there are better coins that will overtake Bitcoin, or any of the other rumors. The thing is you need to just bite the bullet so-to-speak, and buy Bitcoin NOW and do not think about these false rumors. You will be happy in a few years after your investment becomes worth a lot more. Wink
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September 09, 2017, 08:43:33 PM
 #49

I've had this issue numerous times. Its caused by the idea that history or circumstances will repeat.

Sometimes its good to be reminded that every case is different and unique. We as people try to identify patterns in things like price movements. What happens if there are no patterns? That could be the most frightening prospect & the one we try to avoid by expecting history to repeat.

This happens a lot in sports. If Ronda Rousey wins 5 fights in a row. People expect her to continue to win so that history can repeat. Of course any trend is likely to be broken at some point in time. The same principle could apply to markets, currencies, price movements. It may only be a case of when.

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September 09, 2017, 08:50:46 PM
 #50

I have quiet similar problem like you. I want to believe that BTC will rise much more, and it is quiet obvious because the number of person fall on single BTC is huge, what is more.we mainly use BTC to trade/buy other currencies WHEN crypto are more and more popular so we know how it should impact on price (demand and supply)... But in the same time I see that not every country perceive crypto in the same way and in any time can ban it... Most people love BTC but there are more cool crypto that offers key features and who knows? Maybe we have already alternate "bitcoin"  Smiley
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September 09, 2017, 09:35:24 PM
 #51

People are severely limiting themselves with going for one option at full. I benefit from each direction the market is heading to, and that's how things should be done. I always make sure I have enough fiat and coins in reserve to fully utilize this market's volatility. If the price falls down, even after buying, I have enough fiat left that allows me to buy all the way down. It not only grants myself a great new entry point, but it also helps lowering my overall buying price. If the price increases, and especially like how it has gone up this year, I have enough coins left to cash out on every $500-$1000 increase this market experiences. People going all in at whatever price level, or sell everything at once, purely depend on one direction, and that's not the way to go.

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September 09, 2017, 10:18:25 PM
 #52

Well ,if I had to invest, I think I will not be procrastinating about it. Bitcoin and other promising cryptos are the next invogue in investment world. They are always on the uptrend with slight lows to rise again, until it gets to its destination which is not anytime soon.

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miguelmorales85
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September 09, 2017, 10:24:24 PM
 #53

I think there is not mental barrier. I think theres a big deviation from the price consensus or moving average, and that make people with brain to not buy at extreme overpricing
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September 09, 2017, 10:40:40 PM
 #54

I also have the same problem when I want to invest bitcoin. so that would hamper me to invest bitcoin. erratic price bitcoin makes me confused whether i should buy now or i have to wait for bitcoin prices down. if it happens to me. I usually stop to think about the negative impact I would have if I bought bitcoin at the time. I bought bitcoin at the time and kept it for a long time. if i put off to invest bitcoin then i put off to get profit in the future. so it's best for me to buy bitcoin without risking it.
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September 09, 2017, 11:30:29 PM
 #55

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?


I have experienced such a thing but I continue to learn how to solve it, in order to predict the price in the next few hours or days, I learned from the trading chart from there I can see the market direction in a few hours and beberpa days will be like a [pa so that when will determine the sale or buy bitcoin we can already predict the future price like what
han emily
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September 09, 2017, 11:32:48 PM
 #56

Not so long ago we've all whitnessed bitcoin at price 2k usd per btc. Now it is 4k. Sometimes before buying BTC I have a strong feeling that the price will fall pretty soon and I hould wait a bit before buying. Usually it all ends bad. Anyone have the same problem? How are you dealing with it?

I have experienced such a thing but I continue to learn how to solve it, in order to predict the price in the next few hours or days, I learned from the trading chart from there I can see the market direction in a few hours and beberpa days will be like a [pa so that when will determine the sale or buy bitcoin we can already predict the future price like what
777Bitcoin
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September 09, 2017, 11:42:39 PM
 #57

The reality of risked is hunting us that's why we tend to doubt our own instincts. This mental dilemma is normal for a reason we're human beings, a survival instincts would be the best to discribe it. Those problem won't exist for a person with no care for losing those who have much money on their pockets. But for me, who've earned it the hard way makes it more difficult to gamble.
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September 11, 2017, 05:37:42 PM
 #58

It's the fear of failing. And with each time bitcoin rise quickly, the fear that it'll suddenly drop becomes even greater. It's natural. The thing here is as long as you are not risking your life savings, there usually is little to fear. The profit is the reward for taking the risk.

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September 11, 2017, 06:54:14 PM
 #59

I think it's important to recognize that life is not like a movie where the main character will almost certainly "win" in the end. When Bitcoin hits $1 million, there will be people who followed it from when it was $100 but never got in cos of the endless cycle of "When it goes down I will buy" but they never do and it ends up spiking so they don't want to buy near the top. And they just never get it, and one day Bitcoin hits a million and its too late.
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September 11, 2017, 07:05:41 PM
 #60

Just take it and buy a certain amount immediately after the blackened price fall. Otherwise you will never do it.
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