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Author Topic: My advice to Bitcoin newbies: relax  (Read 4662 times)
hatshepsut93
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November 12, 2017, 06:44:50 AM
Last edit: January 31, 2018, 01:11:12 PM by hatshepsut93
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 #1

Hello everyone, recently there has been a lot of panic on this forum due to the big price change of Bitcoin (as it always happens). Understandably, many people are confused and worried as they have lost thousands in their value, especially if they have bought higher than the current price. But as someone who has been into Bitcoin for 1.5 years (not too long, I know) I want to advice to newcomers to simply relax. Huge price swing were always a part of Bitcoin, so there's nothing extraordinary here and the worst thing you can do is to make panic trades. Basically, there are two main approaches to Bitcoin trading - you either hodl it, meaning you never sell it until it reached "the moon", or you are actively trading it to get profit from volatility. So, if you believe in Bitcoin's technology and don't have experience as a trader, I suggest you to not touch your coins - Bitcoin always tends to increase in its value in the long run.

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November 12, 2017, 06:45:50 AM
 #2

This is not an ordinary "price" swing.  The end is near for legacy Bitcoin.
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November 13, 2017, 04:07:28 PM
 #3

This is not an ordinary "price" swing.  The end is near for legacy Bitcoin.

Currently Bitcoin is sitting at $6600 which is only 13% lower than the ATH. Meanwhile, BCH has crashed 3 times lower from its short-lived, artificial ATH, because it wasn't actual users who switched from BTC to BCH, but merely individual manipulators with big pockets who decided to attack Bitcoin regardless of decision of their comrades to cancel another attack called SegWit2x. People were declaring Bitcoin dead hundreds of times already, yet with every year its value keeps increasing and userbase growing.

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November 13, 2017, 04:20:50 PM
 #4

Very good advice, I waited when bitcoin drop to 5k, never happened and now it climbing back  Sad I guess I'll just buy at current price.

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November 13, 2017, 04:24:13 PM
 #5

This is not an ordinary "price" swing.  The end is near for legacy Bitcoin.
You seem to be one of the guy who got bitcoin cash on bubble at peak price with the hope that it will soon replace bitcoin  Grin
There were tens of such clones before which was hyped to replace bitcoin in near future but all of them failed to do so and same thing gonna happen to bitcoin cash.

If you have bought bitcoin cash at over $2k than don't forget to sell them at under $500 soon LOL

 
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November 13, 2017, 04:26:27 PM
 #6

Hello everyone, recently there has been a lot of panic on this forum due to the big price change of Bitcoin (as it always happens). Understandably, many people are confused and worried as they have lost thousands in their value, especially if they have bought higher than the current price. But as someone who has been into Bitcoin for 1.5 years (not too long, I know) I want to advice to newcomers to simply relax. Huge price swing were always a part of Bitcoin, so there's nothing extraordinary here and the worst thing you can do is to make panic trades. Basically, there are two main approaches to Bitcoin trading - you either hodl it, meaning you never sell it until it reached "the moon", or you are actively trading it to get profit from volatility. So, if you believe in Bitcoin's technology and don't experience as a trader, I suggest you to not touch your coins - Bitcoin always tends to increase in its value in the long run.

I agree with you man. Bitcoin tends to grow as years passes by so don't panic whenever there is a quick change in it's price since it will still grow back again.
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November 13, 2017, 04:33:44 PM
 #7

I am quite a newbie here, but that all was true
How hard btc was hit, last time about China banning bitcoin
At then end of the day bitcoin will survive and reachs ATH Grin

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November 13, 2017, 04:36:32 PM
 #8

Exactly, Bitcoin and crypto market is known to be a wild one and its behaviour is getting even volatile day by day. However, these things are going to happen many times in the coming years as we don't have stable level as of now (we are growing day by day and not everyone is aware of most of the things) but when it comes to the long term, I think it is going to be an optimistic picture and nothing to worry about it. In short term, volatility will not go anywhere but Bitcoin will keep growing over the years.
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November 13, 2017, 04:37:50 PM
 #9

This is not an ordinary "price" swing.  The end is near for legacy Bitcoin.
Yes, just like a few months ago when the "flippening" happened, or in 2014 when many people considered BTC dead due to Mt. Gox, and the countless other times that BTC has been deemed dead.

Every time people claimed to have a very good reason, and it didn't end up amounting to much at all after the bulk of the FUD passed by.

HODLing is the best solution.

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November 13, 2017, 04:42:40 PM
 #10

This is not an ordinary "price" swing.  The end is near for legacy Bitcoin.
there is no end to the famous bitcoin.
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November 13, 2017, 04:50:41 PM
 #11

I am quite a newbie here, but that all was true
How hard btc was hit, last time about China banning bitcoin
At then end of the day bitcoin will survive and reachs ATH Grin

Well it really depends on your goal as a new investor/newbie on bitcoin whether your investments are for short or long-term perspective. Considering that by this coming November, another fork will happen, resulting to a decrease of price in bitcoins. Meaning, this may be the perfect opportunity for you to invest while the prices are still down. Do not worry though, it may seem a threat at first when you see the price decreasing but remember that forks happen in order to strengthen the existence of bitcoin. Give it like 2-3 weeks or a month, surely its price will regain its value.
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November 13, 2017, 05:01:31 PM
 #12

Thank you for your advice to every user in bitcoin.
richardsNY
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November 13, 2017, 05:03:46 PM
 #13

Let noobs be noobs and make mistakes. It's obvious that the majority of them do what they consider the best, and for that reason ignore everything people here are talking about. Those who actually learn from their mistakes will end up stronger and more resistant to these situations. Most of the newer people just look to make profit, and that with the mindset of Bitcoin being a cool and profitable investment option, but still with the danger of falling back to zero. It takes time and a costly lesson for these people to understand how this market and its usual dose of panic works.
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November 13, 2017, 05:33:38 PM
 #14

Let noobs be noobs and make mistakes. It's obvious that the majority of them do what they consider the best, and for that reason ignore everything people here are talking about. Those who actually learn from their mistakes will end up stronger and more resistant to these situations. Most of the newer people just look to make profit, and that with the mindset of Bitcoin being a cool and profitable investment option, but still with the danger of falling back to zero. It takes time and a costly lesson for these people to understand how this market and its usual dose of panic works.

It's good to offer guidance, but I think you are partially right in that they need to work a lot of it out themselves and learn from their mistakes like all of us have at too. The majority of people and not just newbies are looking to either 1. Use the currency for what was envisioned by Satoshi 2. Make a profit and convert it to fiat. I don't have a problem with either of those because they both help Bitcoin in the long term.

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November 13, 2017, 05:37:01 PM
 #15

I disagree respectfully. Advice like things like hardware wallets and security and explaining in detail about things to anyone who asks is crucial. We were all newbies once. Obviously some will refuse to follow advice or decide differently, but thats also okay.
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November 13, 2017, 05:37:14 PM
 #16

This is not an ordinary "price" swing.  The end is near for legacy Bitcoin.

Price swing is different from price manipulation, try checking the trend in the exchanges only BTC and BCC are having a huge changes on their prices. That only means that there are whales who are trying to manipulate their prices for their own benefit.

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November 13, 2017, 05:40:08 PM
 #17

 all newbies out there, all i can say is that you always need to be patient especially when you are waiting for you to rank up because it really takes time and it is not that fast to rank up. Also, you should always give time to bitcoin in order for you to earn and do not rush things. You can trust bitcoin.

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November 13, 2017, 05:41:30 PM
 #18

There is no point panicking when it drops unless you just bought alot of bitcoins at a high price we all like it when prices rise but when it falls it's another matter. Just hold maybe invest in some other altcoin.

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November 13, 2017, 05:46:36 PM
 #19

Hello everyone, recently there has been a lot of panic on this forum due to the big price change of Bitcoin (as it always happens). Understandably, many people are confused and worried as they have lost thousands in their value, especially if they have bought higher than the current price. But as someone who has been into Bitcoin for 1.5 years (not too long, I know) I want to advice to newcomers to simply relax. Huge price swing were always a part of Bitcoin, so there's nothing extraordinary here and the worst thing you can do is to make panic trades. Basically, there are two main approaches to Bitcoin trading - you either hodl it, meaning you never sell it until it reached "the moon", or you are actively trading it to get profit from volatility. So, if you believe in Bitcoin's technology and don't experience as a trader, I suggest you to not touch your coins - Bitcoin always tends to increase in its value in the long run.
As someone who held bitcoin for a while do you think the recent price surge since January is an elaborate conspiracy pump & dump scheme and how long would you think is going to take for prices to recover?
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November 13, 2017, 06:05:40 PM
 #20

Hello everyone, recently there has been a lot of panic on this forum due to the big price change of Bitcoin (as it always happens). Understandably, many people are confused and worried as they have lost thousands in their value, especially if they have bought higher than the current price. But as someone who has been into Bitcoin for 1.5 years (not too long, I know) I want to advice to newcomers to simply relax. Huge price swing were always a part of Bitcoin, so there's nothing extraordinary here and the worst thing you can do is to make panic trades. Basically, there are two main approaches to Bitcoin trading - you either hodl it, meaning you never sell it until it reached "the moon", or you are actively trading it to get profit from volatility. So, if you believe in Bitcoin's technology and don't experience as a trader, I suggest you to not touch your coins - Bitcoin always tends to increase in its value in the long run.
I agree with your words but on the other hand due to my losses we have to quit at some level otherwise the loss will increase.
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