Psychology of waiting

[Jaya912]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

What do you mean cost them huge percentage of gains? Do you try to say if the do short trade so they will have more gains?
I think not all people or trader like to do day trade. Most of them just want to keep holding. Thats the way they do trading. Every people has different style mate.

[DaddyMonsi]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

Yes there are traders out there who are willing to wait for a huge drop to start buying and this guys are not just waiting for a huge drop like $6k, they set a reasonable price to wait and start buying and I think most them depends of percentage instead of a fixed price because with percentage you can create an average for you to decide what price is a good time to buy.

[Casdinyard]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

They're kinda pathetic and I'm sorry for that, waiting for bitcoin to have a downhill is too far to happen like just look at the current price and wake up from their dream and live in reality. Instead of waiting, why not buy now and have a sure profit afterwards as you can see the graph its uptrend and it's unstoppable. I always saw people asking if that price is a good entry point or they'll wait a good timing without realizing that they actually missed the perfect time.

[arwin100]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

Yes there are traders out there who are willing to wait for a huge drop to start buying and this guys are not just waiting for a huge drop like $6k, they set a reasonable price to wait and start buying and I think most them depends of percentage instead of a fixed price because with percentage you can create an average for you to decide what price is a good time to buy.

Most of the traders who waits for huge drops are apparently the whales and some of them creates a little noise/fuds just to create panic and make those wake handed traders dump their coins, and that is the perfect time for the huge whales to buy and earn. We already see a lot of these happenings and the whales are always the winners on this kind of trades, Buying low and sell high is just a simple strategic game on them and yet they earn huge with this.

[Reid]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

I am not different with them before and until now. But you must step up as always.
Even if there is a lot of people telling you to change how you think it will still depend on that person.
If he is really willing to sacrifice all to wait then we cannot do anything about it.
Regrets will make him change once he see bitcoin up.

[iqlimasyadiqa]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

For me waiting too long is not a good choice. it's better to trade in a short period of time because we can get a quick profit, although with little advantage but we still can feel it. Let's think objectively that the benefits we get we can collect little by little. Trading is a very important thing to the strategy, but we must be able to choose the right way and right because it can make us get different results. Coaching psychology and patience is important, but when we have the opportunity then do it !!

[Nerman]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

Well if you are a swing trader this strategy will be you bread and butter, of course nobody wants to buy if they can get it cheaper. If you check charts there is no way that a single coin can go on a straight line it will go up in a wave pattern.

Now if you are waiting for a crash definetly it is really hard to predict. Nobody know when will it happen and not everyone are willing to buy when the price is dropping. People are always saying that they are just waiting for the right opportunity to buy but when that opportunity knocks on their door they will just ignore it.

[melted349]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

Yes there are traders out there who are willing to wait for a huge drop to start buying and this guys are not just waiting for a huge drop like $6k, they set a reasonable price to wait and start buying and I think most them depends of percentage instead of a fixed price because with percentage you can create an average for you to decide what price is a good time to buy.

yes this is really happen that some of us here had that kind of strategy when it comes in buying , for me this is helpful this is what some way for you to have some at least an average profit too.

[bob3772]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

Yes there are traders out there who are willing to wait for a huge drop to start buying and this guys are not just waiting for a huge drop like $6k, they set a reasonable price to wait and start buying and I think most them depends of percentage instead of a fixed price because with percentage you can create an average for you to decide what price is a good time to buy.

yes this is really happen that some of us here had that kind of strategy when it comes in buying , for me this is helpful this is what some way for you to have some at least an average profit too.

This is the difference between the best traders and the ones who miss out, it's being able to accurately identify where the drop will go to. Take Ethereum for example, it was quite obvious there would be some correction after passing 700 but it's deciding at what point is the top to sell and at what point to re-enter, if you thought 550 you're not sitting there with regret, if you thought 600 you just made a cool 20% or more.

[buternasek]

Time goes by, whether as long as you wait your money will flourish? certainly not not.
If today you say "I'll buy bitcoin when the price goes down and I'll sell it again when the price goes up" and then for a few years you wait for your money to just save it and it turns out bitcoin prices continue to rise, if you do not regret not buying bitcoin at a time right?
If you do not have enough money to buy bitcoins, use your money for other investments.

[Ausgewielt]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

It seems that they are miss the chance of gaining profit in the increasing of bitcoin price. Its good to buy bitcoin as soon as possible. Tell them about that. But I cannot push them to buy bitcoin now.

[Qwantoom]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

It's their choice and we have nothing to do about it. They definitely buy at the higher price for sure because they know it's a waste of time waiting for that very low price that's impossible too happen.

[expert4knowledge]

You have to be realistic, waiting for a 15k drop is okay, 10k at best why not, but it won't go under this, you have to accept bitcoin now reached the mass market and you missed the opportunity to get it cheap

[exstasie]

You have to be realistic, waiting for a 15k drop is okay, 10k at best why not, but it won't go under this, you have to accept bitcoin now reached the mass market and you missed the opportunity to get it cheap

A 50% drop is nothing for Bitcoin. I'm doubtful we can drop below the $8500-$10,000 area in the mid term, but even given mainstream adoption, the cycle of speculative hype will eventually end. The BETI (Bitcoin Exponential Trend Indicator) scripted by Johnson Lau has been used to analyze these cycles. After the trend finally breaks down, it expects a low below $7,000 sometime next year.

This could change as new data comes in, but the logic remains the same. The faster an instrument rises, the harder it falls. I'm extremely bullish on Bitcoin on the order of years, but if the rally continues at this rate, it's setting up the conditions for a long term bear market.

[Ebenezar64]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

I think it is clear to most people that are waiting for a dip that they are risking out missing on a "top" going further up. If you buy you are also taking a risk taht a dip occurs. I agree that many people ahve been expecting a correction since at least 10k. I was/am one fo them. The technical analysis would indicate that a correction is due, it doesn't mean for sure it is going to happen but the indicators are there.

So the best way imo is if you are planning to invest/take profits do it over a period of time. Lets say you want to take out 50% of your investment to FIAT to take some profits from the gains you have had: Split this in 5-10% chunks and take out some money every week/day (or some given interval). This way if BTC continues to rise you still get this on most of your investment and if after 2-3 weeks the dip starts then you have already removed some of your money and continue to remove them during the dip and you ahve som money to start buying again at a time fo your choosing.

This is called "Dollar Cost averaging" and you can search on this and how it is used in stock investments.

[TorbiK]

You do not need to tell them anything or explain them. They already understood everything, that it was necessary to buy then and they will buy now for 20 000 or they will not buy at all ever.

[Siopao]

Buying bitcoin at the previous price of $6k would have been yhe perfect opportunity to acquire btc, but it have gone long and the price is now so high.l, that lesser people woul dare to invest in. I thi k ther will be a little corrections by early 2018 but it would not drop at $6k, now its a question of would you take the risk or regret about jot investing in the future. Make a move now, surely there will be gain in the years to come as we see the increasing value of btc.

[Bayoe_noe]

why wait a long time if now we can get profit from bitcoin price at this time. maybe they wait to get more bitcoin if there is a decrease, but if the price does not go down, even will continue to rise they will be confused will buy bitcoin

[CryptoHarry]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

Waiting for bitcoin price to drop before buying is the biggest mistake a person can do these days. bitcoin price is growing faster than it's falling.

[hkdfgkdf]

I have now heard a lot of people talking about they are waiting for bitcoin to drop, so that they can buy bitcoin. But these guys might have said that since 6k$ and are still waiting. What do you tell those people, to try and make them understand that waiting for a drop can cost them huge percentage gains?

The current price of bitcoin now is very high. It will take a long time for bitcoin to dump a huge amount. I think it is better advise others to do trading specially day trading. At least while waiting for bitcoin's price to decrease, you are earning at the same time.