The importance of staying positive, no matter what (the price is)

[Canis Majoris]

My other brother bought at ~$2700, sold half of that for I guess $3xxx during the crash from $5000 to $3000. I told him he was crazy and he absolutely should not have done that. And of course if he waited just a few months he could have sold at $10k or $15k of $19k. He put in so little money relative to what they have (he just put in $2500 to buy .89 BTC) that the risk of losing that a couple thousand dollars when you have a good career is really not a risk at all, but the upside if you hold is maybe you sell in a few years and could possibly make $50k or $100k or more (or he could have sold late last year and made over $10k even after taxes for a tiny 6 month investment). So why did he sell half his BTC, worried that he was going to lose all of a few hundred dollars, and took the out of gaining a few hundred dollars, pure emotion of "oh my god my investment is dropping i better sell!"

First rule of bitcoin: never listen to your emotions.

And of course I've violated that rule plenty of times, especially during my first bitcoin stint back in 2013/2014, and it pretty much always results in losing money or losing bitcoin.

We often act without being completely aware of what we are doing. Yes, it may sound a little strange, but it is in fact so. Most of the time we act on autopilot without thinking twice or even once, while our actions are based on our past experiences. Thereby we repeat our past over and over again. Our emotions play a major role in this because when acting in default mode, our actions are fully determined by what we feel, not by what we think or find rational or reasonable. As explained in the OP (or somewhere in the thread), thinking is a conscious effort driven by awareness, whereas behavior driven by emotions is the opposite of that.

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[Fulmand]

There is a wisdom which says that false hopelessness is much worse than false hope. You may think that it is just a catchy phrase but it is definitely not. When the prices fall as hard as they did since December, it is difficult to stay positive when you had bought right at the peak. But you really should. The difference between staying positive and negative is colossal and life changing. When you are feeling negative and depressed, you won't do anything. You will just curl up in a fetus position and cry all day long over the money you have so carelessly invested in Bitcoin. However, if you stay positive and look forward to a better future, you will be actively searching for ways out of the predicament you got into.

As a matter of fact, there were quite a lot of opportunities along the road to balance out the losses since December, and if you focused your attention on these opportunities instead of pointlessly crying over spilt milk, you would now reap profits, literally. This is what seasoned traders do all the time and you can do as well.

You are right definitely agree with you. Many will be quick to say and judge how weak hearted are those people who sold out or got depressed with the long drop after December 2017.. But I feel sorry for them because it is not easy to acquire such money and to invest in such an expensive price buying during the peak of bitcoin price value...Nevertheless with the losses must come the great urge to recover..the drop does not mean the end..and one must she it as an opportunity invest at a lesser capital and expect less but there is a bigger chance of actually profiting greater..

[entrepmind23]

It is really hard to stay positive especially when you bought right the top or near the top. It seems that you cannot recover anymore if you have negative thinking and maybe for those who were hyped and just entered the crypto world during that time, half of them maybe sold it at a loss and moved on leaving the crypto world totally and the remaining ones just hold on to their coins hoping for a comeback and eventually be in profits. The ones who borrowed money to invest in bitcoin may have some problems already on how to pay their debts so they have no choice but to sell it and find other means to pay for the balance.

I always believe in the power of positive thinking because I have witness it not only in crypto but in other aspects of life. If you have problems then you will not be able to solve it by just sulking and accepting the fact that you cannot solve it. There would always be a way if you remain positive. In crypto, if you just continue to trade then you would have learn more and even if your portfolio is at a loss then maybe after some time , you will be able to get back your losses by trading slowly.

[Ararbermas]

Nothing will happen to us if we are going to in a negative mode all the time, that is why we need to stay positive and calm ourselves no matter what we are doing especially when we are doing holding bitcoin. Remember, that positive attract things, so better to stay positive no matter what.

yeah being positive is the best way to keep our selves calm in different problem.  Especially here in crypto 'cause sometimes it fluctuate time on time and to hard to predict the volatility., so in order to save our money from it we must put some  patience and efforts on it and always think positive and control your emotions if you don't want to end up to losing money.  

[Gaff]

Nothing will happen to us if we are going to in a negative mode all the time, that is why we need to stay positive and calm ourselves no matter what we are doing especially when we are doing holding bitcoin. Remember, that positive attract things, so better to stay positive no matter what.

yeah being positive is the best way to keep our selves calm in different problem.  Especially here in crypto 'cause sometimes it fluctuate time on time and to hard to predict the volatility., so in order to save our money from it we must put some  patience and efforts on it and always think positive and control your emotions if you don't want to end up to losing money.  

Staying positive no matter what the situation is can be very challenging. Life is inevitable and full of surprises, we don't know what's gonna happen next. But if we let negativity be unwired from our thoughts, actions, and words then I think it can have a great impact on how we view life. Focus, listen, and know your goal and direction.

[Chachacoin17]

Nothing will happen to us if we are going to in a negative mode all the time, that is why we need to stay positive and calm ourselves no matter what we are doing especially when we are doing holding bitcoin. Remember, that positive attract things, so better to stay positive no matter what.

yeah being positive is the best way to keep our selves calm in different problem.  Especially here in crypto 'cause sometimes it fluctuate time on time and to hard to predict the volatility., so in order to save our money from it we must put some  patience and efforts on it and always think positive and control your emotions if you don't want to end up to losing money.  

Staying positive no matter what the situation is can be very challenging. Life is inevitable and full of surprises, we don't know what's gonna happen next. But if we let negativity be unwired from our thoughts, actions, and words then I think it can have a great impact on how we view life. Focus, listen, and know your goal and direction.

We sometimes get frustrated and feel so unsatisfied because of not achieving our goals in life and we feel like we have done our very best, but still you feel like something is wrong. Life's like that, it does not always give what you want, but by what you deserve. The road to success is rough, but the way you ride with the journey matters. Be positive and let it be spread out across the world, it is contagious.

[candolbitcoin214]

This is a useless philosophy that has nothing to do with cryptos or blockchain. It is a matter of your character and the way you are used to live. You could likewise say that it is better to be a good man than a bad one, or a clever than a stupid one. So what?

I disagree with you., why do you call patience and positivity useless in investing in bitcoin or any other cryptos? I believe that this are relevant attitude if you are into cryptocurrencies. For example if an investors expects high because he bought bitcoin at higher price but he did not reach his expectations he will just give up because it is useless to be patient and positive?  What the heck are you saying? This is plain and simple advice that investors must hold on be patient and stay positive because naturally bitcoin is volatile it could go down in a minute but it could also go up in a blink. There is so much to expect in bitcoin and to achieve an expectation one must put time effort and dedication on to it because if you dont then cryptocurrencies are not for you!

[northcoin2018]

This is a useless philosophy that has nothing to do with cryptos or blockchain. It is a matter of your character and the way you are used to live. You could likewise say that it is better to be a good man than a bad one, or a clever than a stupid one. So what?

I do not get your point of how staying positive is useless? And your explaination is simply contradictory. Having a positive mind set is a good thing not only in cryptcurrencies but almost in all aspect of human life. I do not get your predicament in this topic.

[vickybitcoin]

This is a useless philosophy that has nothing to do with cryptos or blockchain. It is a matter of your character and the way you are used to live. You could likewise say that it is better to be a good man than a bad one, or a clever than a stupid one. So what?

Positivity is a big key to success. If your mind is negative you will never achieve any thing because negativity is co existent with fear and living in fear is living in a dark and unproductive life.

[Tigorss]

I've been talking about this, the price is now unstable, just by continuing to monitor and try to stabilize the price, but it is advisable to be more patient because the future price will return to recover

[thecodebear]

The key is staying positive on the long term outlook. My brother sold half his bitcoin a month or two ago because he said he didn't wanna stress over it. I told him that was very stupid. He only had a bit over 1 bitcoin anyways, so even if he lost all the money its not like he'll miss it in the long run, but if he had stayed positive he might be sitting on well over $100k in a few years. Just gotta keep a positive long term outlook. Sure it sucks getting trades stuck for a few months or watching your portfolio go down for a few months. But if you wait long enough 99% change you'll be making lots of money again in the relatively near future.

Staying positive may be good if you wanted to focus on long-term investments - in fact it looks like the only option to stay just sane in the long run - but this is not what I wanted to say in OP. It is not about talking yourself into doing nothing for a couple of years in a less stressful way. Quite the contrary, my whole point was about carrying out a well-thought-out plan how to get out of losses if you were unlucky to buy at December highs.

I think your mentality going into a highly volatile investment like Bitcoin has to be "hey there may be times when I'm way down on my investment but I believe in it long term and I only put in what I can afford to keep in there for a long time so I don't care about a market crash, I can just wait".

If you don't have that mentality and strategy then you shouldn't be investing in Bitcoin. That's how you stay positive no matter what the price.

I don't think it works in practice. Indeed, if you invested a relatively small amount of money (relative to your income, of course), then you kinda have this mentality right away. But even in that case it is not guaranteed as the other poster justly noted. But if you invested in Bitcoin all your lifetime savings, actually having this mentality would be bordering on insanity. Basically, what I talking about here is a technique for setting yourself up when you can act rationally. It is definitely not about making you into a Bitcoin holding zombie.

I invested everything I have, plus a lot I didn't have through a loan in cryptos last year. I don't consider my mentality of believing in bitcoin long term to be bordering on insanity as you say. I'm still easily in a profit now even at the bottom of the market, even though I have over $150k less than I did at the top in december. Nothing wrong with that, I don't mind one bit. Because I believe in the future of bitcoin. I'm 100% confident in 2019 my crypto will be worth far more than it was in december, and a few years from now it'll be worth far more than it will be in 2019.

The ultimate, and really the only, way to stay positive on any investment no matter what the price is, is to believe in it long term. Anyone who doesn't believe in it long term should have gotten out with profits when it was dropping in december or january. Anyone who does believe in it long term doesn't have the problem of staying positive and if they have money should be buying the dip right now.

[thecodebear]

If you don't have long term belief in your investment, and you end up selling after a drop for a loss, with Bitcoin you can also take what you sold and trade it against Bitcoin, using the volatility to make money.

I've also employed this method during the crash. I sold some of my bitcoin after it dropped a lot in order to start trading with it so that I can cash out some profits on the side instead of just having to wait years for bitcoin to reach some really high price, and I still have plenty of bitcoin that I'm holding long term. Currently my trades are stuck at around $11k and I expect them to be stuck for another couple of months. But thats no reason to be negative. In a few months those trades will complete and I'll start trading again and be cashing out good money on a weekly basis most of the time as the market goes back up. I might even put a little bit more money in soon to trade with just for fun and to make a little profit while I'm waiting for my other trades to hit their sell orders.

So I guess I'd say having some money set aside for trading after a crash can keep you positive, because then even if you are just waiting for the price to recover to feel good about your investment again, you can trade for fun and profit as the market returns and that way no matter how long it takes for the price to recover you can be making money along the way (and yes I can say it feels very good to actually get to regularly cash out some trading profits from bitcoin while the rest of your investment is just sitting around for a few years).

[Proton2233]

It's not hard for me to stay positive. I have long ago returned all my Fiat money that I invested in order to become a part of the cryptocurrency community. Now I get profit from the profit that brought me cryptocurrency. Therefore, I always keep a positive mood and will not leave bitcoin at any price. I believe that bitcoin is the currency of the future.

[jakagintiri]

There is a wisdom which says that false hopelessness is much worse than false hope. You may think that it is just a catchy phrase but it is definitely not. When the prices fall as hard as they did since December, it is difficult to stay positive when you had bought right at the peak. But you really should. The difference between staying positive and negative is colossal and life changing. When you are feeling negative and depressed, you won't do anything. You will just curl up in a fetus position and cry all day long over the money you have so carelessly invested in Bitcoin. However, if you stay positive and look forward to a better future, you will be actively searching for ways out of the predicament you got into.

As a matter of fact, there were quite a lot of opportunities along the road to balance out the losses since December, and if you focused your attention on these opportunities instead of pointlessly crying over spilt milk, you would now reap profits, literally. This is what seasoned traders do all the time and you can do as well.

It's easy to just talk to keep thinking positive, it's really not good to think continuously negative thinking can change a person psychologically and make their mind depressed, I appreciate if they are so depressed with the current price drop, most people invest with all the money they have without thinking about risk, of course, will make their way of thinking disturbed by bitcoin prices that never go up until now on the other hand there is a more important responsibility related to what they invest, or do not work and just expect profit of bitcoin, it is the most common mistake experienced by most investors to gain financial freedom, not denying it is difficult to think positively while on the other hand there is a more important responsibility so it is natural that they feel it all, stay smart in making decisions and investing so that can replace what's missing, while waiting for bitcoin prices to go up.

[xuan87]

Yes it's important to stay positive, and to be honest the easiest way to see this thing is consider your investment for a long term, BTC and crypto will gradually recover, it need times but we surely going to make profit, and I know there are many investors had been suffered a big lost in the early of 2018, and we need every one to stay positive because negative thinking only going to stressed out themselves and force them doing the reckless thing

[cryp24x]

It is easier said than done but it is the right choice to make. Every situation is quite difficult especially when everyone seems to be afraid and start panicking. But having a clear mind and a positive outlook on every situation makes the difference. While others decide to stop or to sell. It is an advantage to those who buy. So what is the best way to do? Stay calm and then when the right time comes, we have to celebrate the right decision we have made.

[player514]

Yeah only thing is staying positive won't give them their money back. You see, a lot of people went to different sources and got the money to invest in Bitcoin but now that the markets are in a bull period, they can't keep up with the other end of bargain when they borrowed the money. We are seeing suicides, murders and what not for money. This stupidity is worse than their earlier stupidity of buying bitcoin at a higher price.

100% agree with this statement. You can't tell someone who put their money into bitcoin at 19,000 to "stay positive." That money might not ever come back, and the loss of 50% of their investment is a big blow to not just their bank account but their motivation towards investing in crypto. It takes a very unique and strong-willed person to keep investing in something that they lost so much money in. People shouldn't stay positive no matter what the price is, they should stay smart. If anyone plays their cards right, they will have the opportunity to make money.

[Canis Majoris]

I always believe in the power of positive thinking because I have witness it not only in crypto but in other aspects of life. If you have problems then you will not be able to solve it by just sulking and accepting the fact that you cannot solve it. There would always be a way if you remain positive. In crypto, if you just continue to trade then you would have learn more and even if your portfolio is at a loss then maybe after some time , you will be able to get back your losses by trading slowly.

Yep, that's exactly the point I'm trying to get across here. Staying on the bright side and having a positive outlook is not about forgetting about your problems as it is about being able to solve them. In other words, if you want to solve your problems, you should be thinking positively. You can't effectively and efficiently solve them if you on the downside. If you are not thinking positively, then you should change your attitude if you are really looking for a solution. Obviously, trading is just one aspect of life where this approach is applicable. However, it is likely the one aspect where it is most applicable as all your losses are perfectly recoverable - at least, with Bitcoin.

Gave you the last sMerit I had.

[pitiflin]

100% agree with this statement. You can't tell someone who put their money into bitcoin at 19,000 to "stay positive." That money might not ever come back, and the loss of 50% of their investment is a big blow to not just their bank account but their motivation towards investing in crypto. It takes a very unique and strong-willed person to keep investing in something that they lost so much money in. People shouldn't stay positive no matter what the price is, they should stay smart. If anyone plays their cards right, they will have the opportunity to make money.

Even if a person bought at 19k or something,they can still profit. They can always prefer to trade/invest in different ICOs/gambling sites and make profits. Just because you bought at 19k and now the price is 8k doesn't mean that you'll forever be in a loss unless the price goes above 19k. God knows,how many days/months that will take. Be smart and know your shit properly.

[imapessimist]

No I don't agree with this at all.  If Bitcoin is in a general decline there is no point in putting your hands over your ears and saying to the moon.  1m by the end of the year.  It's just not sensible.