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

[Canis Majoris]

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.

[pitiflin]

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.

[pooya87]

There is a wisdom which says that false hopelessness is much worse than false hope.

i've never heard this one before but i liked it.

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.
~~~
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.

this is the problem with most people who invest in bitcoin. they want a certain thing: to become rich overnight, and as that doesn't come true they start acting strange.

the fact is, it really doesn't matter when you buy. what matters more is what you do after you bought. for example if you bought to trade bitcoin only then falling or rising ,... should not even matter, you should be able to make profit from any market trend that comes up.
and if you bought just as an investment then it still shouldn't matter what happens next. if prices were falling then sell in early stages not after a long time and the bottom! and then simply buy back.
making mistakes is always ok as long as you don't repeat them and try fixing the mistake you made.

[GoldenLad]

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?

Its not a 'useless' philosophy. You should read between the line to understand what the OP mean. All he is trying to say is that if you focus you attention too much on the certain coin price you will keep whining. I believe that before anybody invest into cryptocurrency they should be ready and prepare for the worst cause in cryptos, you need patient to eat the fattest bone. Instead of powering your energy to the price well it drops, channel it to other opportunities.

[Idrisu]

If we focus on the wider picture and trade like professional there is no way you can lose money. Trading is a game of the mind and that is why many traders especially the panic one lose mush money. If you invest act the wrong time you will lose money and if you invest at the right time you will make money. The major problem we are having is people invest at the top and expect price to do in no time.

[Wind_FURY]

OP, but does Bitcoin always have to be a "money making investment"? We hold Bitcoin not only as an investment but to be a part of something revolutionary or being a part of the revolution that is going to change the world itself.

Like the invention of the airplane, the telephone, or the internet, Bitcoin is also rejected at first by the mainstream. But that's ok, more cheap coins for us. 

[timerland]

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.

Well said. And the least you can do right now is to just hold onto your coin. Don't get affected by your emotions and start panic selling, because that's exactly what the majority of the inexperienced bitcoin investors are doing. And never does it work.

The action that you can take definitively in this scenario would be in my opinion average down your costs by buying at the dips. Each time bitcoin dips in this bear market, buy some more BTC so that eventually, your buy price can be a fraction of what it was when you bought your coin at the peak.

The next bull market will eventually come(as unlikely as it sounds right now) and all the people who actually bothered to look into the future and had the patience to stick to their initial investment will be rewarded. The ones who panic sell will have an empty bag at that point, only wishing that they had held onto their investments.

[Fuhre]

mindset is do'a! yes, it is very important to always think positive. if people buy right at the top of course it would be very panicky and depressed to see the market now. Their fault is, they just plant their money in one place only. there are still many coins that are profitable to make a place to invest. before plunging into the world of crypto, at least we have On the second thought, so that when viewing the situation now will not panic and Go to pieces. not much can be done by people who buy at the top, they just have to keep thinking positive and be patient to wait for his price to recover.

[BillyBobZorton]

All markets need lossers, and in this case, the losers will be the ones that panic sell because they lack the long term vision that investors that get really rich from paradigm shifts have. Most people aren't wired to think long term, they think linearly, they only see how the price was $20,000 and now it's $6,000, meanwhile I see how the price was $3,000 less than a year ago.

Perception is lost quickly in this volatile market. I only see progress, noobs only see a "crash". They will eventually sell their coins to me for a cheap price, and they will fomo back in at $30,000. This is how it works.

[iram1011]

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.

All what I want to say here is that KEEP EMOTIONS OUT OF CRYPTO!

Emotions gonna cost you huge in crypto market. Intsead of holding your dead bags and coins bought at peak, try to sell them and cut the loss. Try to trade back with that amount and cover your loss. What's the fun of HODLing Bitcoin bought at $20k all the way till now when the price has plunged almost 65%. Instead, if someone has sold it near $14k when a more dump was evident and traded that amount in some other coin and got some profit margin, then that's the best way to invest and trade in cryptos. Patience can cost you huge in bear market. Patience might work in bull phase. But you need to be quick with analysis else you can easily get rekt.

[Canis Majoris]

the fact is, it really doesn't matter when you buy. what matters more is what you do after you bought. for example if you bought to trade bitcoin only then falling or rising ,... should not even matter, you should be able to make profit from any market trend that comes up.
and if you bought just as an investment then it still shouldn't matter what happens next. if prices were falling then sell in early stages not after a long time and the bottom! and then simply buy back.
making mistakes is always ok as long as you don't repeat them and try fixing the mistake you made.

Can't agree more with that. This is the attitude that I stick to myself. If you are a trader, as opposed to being an investor - otherwise known as bag holder most of the time, you should primarily care about volatility and your ability to ride it. But crypto has yet to fail us in this department. Obviously, that requires a positive mindset. People who whine about low prices will just sit and see how prices go lower and their capital disappears into the haze.

[LFC_Bitcoin]

I’m cool, calm & collected. No panic here, my coins will one day make me a rich man. I can wait a few years.

[Canis Majoris]

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?

This has everything to do with everything else in life, not just with trading, crypto or blockchain. People with a positive mindset and overall optimistic attitude are a lot more successful in life than their more negative - or just negative - counterparts. The point is if you are genetically, or whatever, predisposed to a negative mindset, you have to consciously change it if you want to succeed in whatever endeavor you choose to pursue. As I explained in OP, people with a negative attitude or just in a down mood are not inclined to act purposefully and effectively, but without action there is no reaction.

[tora]

The same can happen with other investments eg shares. A company can issue a profit warning and shares can drop 20% in a day. Issue a second and it is another drop. A third usually means the end of the company.

[crisanto01]

If you are about to give up or doing negative thought, think of this first your reason why you are here? Why you choose to deal with cryptocurrencies rather than in stock market or any other investment schemes, why you have invested in it? Is it just nothing or because you believe in it, f yes then why panic?

[Canis Majoris]

OP, but does Bitcoin always have to be a "money making investment"? We hold Bitcoin not only as an investment but to be a part of something revolutionary or being a part of the revolution that is going to change the world itself.

Like the invention of the airplane, the telephone, or the internet, Bitcoin is also rejected at first by the mainstream. But that's ok, more cheap coins for us. 

Myself, I have nothing against that. But this topic is not about the people who invested in Bitcoin as something which they expect to take or win over the world in due course. In essence, it is more is about staying positive when you see massive losses accumulating - and acting accordingly - if you are not quite happy with that. Obviously, those who think of or believe in Bitcoin as a new revolution, they don't fall into this category. But they are minority here.

[darewaller]

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.

It may not give them their money back, but if they were not ignorant of how the market has always been and they got in for the right reasons and not because of greed, they should have known better that this is a long term investment and not just some sort of get rich quick scheme.

I know it is a hard to take in for those who may have gone in big, but staying positive, finding ways to make things better and probably looking forward to the future, which they should have done in the first place, is the only way that would make them not to take the worst decisions.

Honestly the truth is that this is a market and things like this are always bound to happen and really like what OP said, so many people are busy crying and complaining over nothing when they should at least be taking those little advantage of the market or trying to learn ways they can. I guess it is how some people have decided to fashion themselves anyway, and since all they can do is to complain about everything, that absolutely gets to cloud their judgment of finding how to make things better.

[Wind_FURY]

OP, but does Bitcoin always have to be a "money making investment"? We hold Bitcoin not only as an investment but to be a part of something revolutionary or being a part of the revolution that is going to change the world itself.

Like the invention of the airplane, the telephone, or the internet, Bitcoin is also rejected at first by the mainstream. But that's ok, more cheap coins for us. 

Myself, I have nothing against that. But this topic is not about the people who invested in Bitcoin as something which they expect to take or win over the world in due course. In essence, it is more is about staying positive when you see massive losses accumulating - and acting accordingly - if you are not quite happy with that. Obviously, those who think of or believe in Bitcoin as a new revolution, they don't fall into this category. But they are minority here.

Then if they are here only for the profits in fiat, then I say they deserve all the stress they are having and I hope they finally learn the lesson that holding Bitcoin regardless of the price is the only way to keep it stronger. Most of us are not coders, trading experts, or scholars. The majority of the community are ordinary people. The least we can do to truly support it is by holding and by talking to people about it.

[Coffee_Lover]

Staying positive is quite difficult you know. Each of us is undergoing into different sufferings and trials, only ourselves know when it will end. On the other side, keeping the faith and staying positive is a great help to boost self-confidence and self-trust.

[eaglewhite80]

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?

Everything about it is true and as long as it makes sense, it is not useless. You think if those who have been holding for a long term and reaping the benefits now had lose hope, they would have reaped those benefits?

The mistakes a lot of people have made is that they got greedy (that is the basic fact) and with that, they just expected the market to keep going up and then giving the whales a lot of money to take as a result of their panic, but the thing is, those who were never ignorant of the market situation and got in with some knowledge will never have fallen for such.

However, even if you did eventually make such a mistake, like the OP have said, there are ways that you could have at least gotten out of it even during the downtrend, but like it, most people would still prefer to stay in their ignorant state and rather whine and complain about everything.