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Author Topic: Mental barrier stops from buying BTC  (Read 3506 times)
Beerwizzard
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September 08, 2017, 06:12:43 PM
 #1

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?
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September 08, 2017, 06:34:38 PM
 #2

I think there are a lot of people with same problems, including me.
Development, adoption and price of all cryptos will grow faster and faster every day. It's all about money and money concerns everyone. IMO there is a lot of smart investors, with pockets full of money (FIAT), which are waiting for the price to drop so they can buy. So I buy some BTC every month regardless the price.

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September 08, 2017, 07:03:20 PM
 #3

I think there are a lot of people with same problems, including me.
Development, adoption and price of all cryptos will grow faster and faster every day. It's all about money and money concerns everyone. IMO there is a lot of smart investors, with pockets full of money (FIAT), which are waiting for the price to drop so they can buy. So I buy some BTC every month regardless the price.


surely everyone has problems like this. depending on how attitudes of each individual, will the problem train mentally and become a lesson for the future or even lower the mental to purchase BTC

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September 08, 2017, 07:09:21 PM
 #4

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 don't think it will affect anyone because bitcoin price fluctuation finally leads to bump only. Hence you can invest bitcoin and buy the btc as much you can at anytime. I am sure that you will never face the failure because of that. If you have doubt about my answer. Check with the traders they give better explanation I guess.
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September 08, 2017, 07:10:10 PM
 #5

If you look at charts, Bitcoin's value is steadily increasing. There are a few drops, yes, but the value of Bitcoins will keep going up at this rate for a while still.

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September 08, 2017, 07:10:36 PM
 #6

Just don't invest only in bitcoin, that is the ultimate startegy you will ever get in crypto world.
Also always hold some fiat (USD/USDT) in your hand so that you can buy some cheap coins when there will be huge dump/correction like right now.

Emotion won't help in trading, you need to look at charts to figure out good entry point/buy point.

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September 08, 2017, 07:16:11 PM
 #7

It's completely normal. People need time to get accustomed with the prices. Do you think $1000 for a BTC is a lot? Would you pay it now or say it's too much? For many years $1000 was that mental barrier and people were dreaming of cashing out at $1000 and saying that nobody would buy above that price.
Just wait and if the price doesn't fall below $3000 until the end of the year people will start treating it like something normal and consider everything below it as a low price.

 
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September 08, 2017, 07:25:39 PM
 #8

same here.I also believed like you and me we can found a lot of people who also faced it.Many times i thought about buy bitcoin but i didn't. I thought when the price will dump again i will buy.But the price of bitcoin goes to moon now.I lost the chance to buy bitcoin at $2500 now the price is $4000 or more.but today the price is seems to me low.Its buy time i think.
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September 08, 2017, 11:08:05 PM
 #9

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 don't know why are you feeling that even after seeing bitcoin price reaching to 4K from 2k USD within a few months? Probably it's all about the negativity you have inside your mind or the experience of a previous event. However, if you are thinking of long term, then I am sure, that even will not occur again. Bitcoin is a very good investment for long-term and not for short term.

Keep buying bitcoin because the price of bitcoin is not optimum high and has a lot of potential left to go up in future. Buy and hold bitcoin for at least 3-5 years and you will see the magic. However, if you are thinking short term, then prefer to stay away because the price is really volatile.

   
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September 08, 2017, 11:14:38 PM
 #10

Buy it for the long term and stop worrying.
Over the long term bitcoin has performed as a great investment.
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September 08, 2017, 11:16:48 PM
 #11

What I've learned from crypto trading is that you should hold at all times and only really consider selling when you've reached your long term goal.

So many times I've looked to make some quick gains and been completely robbed off of pumps.

What someone else said in the thread about keeping some money to invest when there are big corrections is certainly true. Its good to invest long term and to buy in at any time, but if you want to make huge gains its also important to have some money saved on the side to buy in once coins go cheap
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September 08, 2017, 11:21:43 PM
 #12

Recognizable problem. I didn't bought Bitcoin in the spring of 2013 when it was $35 because I thought it was outrageously expensive and couldn't possibly go up any more. I remained hesitant as the price shot up further, all the while with the same reasoning. This train of thoughts has decreased somewhat nowadays as crypto now appears to be here to stay, but I missed a lot of profit due to being (too?) cautious.
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September 09, 2017, 12:21:06 AM
 #13

The mental barrier i see with people about bitcoin is, they lack the knowledge of wht bitcoin is, they fail to understand what bitcoin is all about, they never do researches, they tend to think they know everything when it comes to invesment and say bitcoin is just a scam and sad to say, most if these people are close to us. The next thing i see as a mental barrier is the language we use, we understand the technical terms even though they are hard to explain, as for the layman's terms, once we try to simplify it, most will have a hard time of explaining it, since what people need to do is to read and researcb about the terms. Then therr is the generation gap, for young people they could easily understand technology today, but for those who are old, they might need a couple of months just to undetstand how to a pc works. I think the mental barrier there is, is that people no longer read, do research, just likr in the old days, what people want today is being spoon fed the information they want, that's there is this mental barrier, if you know how to read and competent enough, you can understand articles about bitcoin and everything abiut the subject.
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September 09, 2017, 01:20:07 AM
 #14

Emotion and psychology are very difficult to control. But you have to learn how to control it. Only then can you make the right decisions. In order to have confidence in yourself, to control your emotions, you have to understand the market carefully and follow the fluctuation of prices to be able to predict accurately. So you can succeed in investing btc. But all are exceptions. There will definitely be wrong decisions. But, try!

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September 09, 2017, 01:24:41 AM
 #15

Most users gave this dilemma whether to go for it or not, which is purely on the volatility of the bitcoin compared to the assets such as gold, platinum and so on. This thinking goes out and gives a relaxed mind insisting to buy more and more when the user himself experiments and gains a small profit through the same.

 
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September 09, 2017, 01:28:51 AM
 #16

I don't give a second thought when buying bitcoin or ether. I treat it like converting money to another form that I can always get back. The amount fluctuates but overall it will go up. I don't care if I buy near $5000 or near $4000. In a month or two it will be higher than what I put in. Though $5000 may take awhile with all this FUD. Converting bitcoin to another alt is a mental barrier for me though.
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September 09, 2017, 01:29:44 AM
 #17

Brother, you're not holding onto your bitcoin long enough if what you said is true.  You're
what they call 'weak hands', and you're the most likely to lose money by trying to time
the market and getting cold feet and/or panicking.  We're down significantly from $5000
right now.  Don't you think it might be a good time to buy a little?  I do.

 
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September 09, 2017, 01:49:40 AM
 #18

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?

You are just being a smart investor. dont feel bad about this Wink

the meteoric rise in value is not sustainable, imo. bitcoin cant go up forever; eventually, it will correct, even if it does continue up. i take sooo much flack about this from some of my crypto bros. i have advised people against purchasing new bitcoin for the last 6 months or so. i wont be responsible for suggesting an asset that goes south a month after i mention it Smiley so those same people, have been like 'fuck you man, i could have made 20%" and to this day, i would still tell them. wait.

and now im waiting to see if ths china rumor bullshit has any teeth to it, and what that will mean for the price and the altcoin markets. all these recent developments may prove me right; bitcoin might be considerably cheaper in the near future, for a limited time Wink
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September 09, 2017, 01:52:31 AM
 #19

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?

The price is most likely going to be dumped hard very soon.

Even without all this negative press coverage and new regulations that strongly oppose bitcoin from China i think the eventual adjustment of price downwards will be inevitable. Bitcoin is not something that can always go up so quickly. It is a currency, and even though currencies can be considered investments they still don't achieve crazy returns in the long run that btc has achieved over the past few months. It's not sustainable growth.

I would say that buy bitcoin when nobody is talking about it, sell when everyone is.
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September 09, 2017, 02:45:28 AM
 #20

imo it is still cheap now (45xx-48xx). it broke $5000 not long ago.
ppl who regret not bought at 2xxx, they don't realize what the price would become in future. so when the price hit 7xxx, there will be ppl who regret because not buying bitcoin now.
buy some btc and save some usd in case it dump hard

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