Three things you should not do when Bitcoin prices drop!

[Sunnyyy]

I agree with the 3 principles you give. Of course we need to buy more altcoin when prices drop. I usually buy more bitcoin and ETh whenever the price goes down. Keep calm when the price drops and relax and forget about it for a while

[Yangleiden]

Bitcoin won’t be worth anything in 5 years. I’m surprised it’s worth anything now. There are zero use cases for it that supersede cash.

[ObsidianCharlie]

Bitcoin won’t be worth anything in 5 years. I’m surprised it’s worth anything now. There are zero use cases for it that supersede cash.

How many people use gold for daily purchases? Is it worthless?

[bitbunnny]

I would say that these three things are basics that you should be aware of even before you start dealing with Bitcoin.
But the problem is that many users don't have the clue how Bitcoin and market are functioning, they just think on profit and soon they end up disappointed, in panic or big loss.
So, inform and educate yourself before you start dealing with Bitcoin.

[BanditCharlie]

Bitcoin won’t be worth anything in 5 years. I’m surprised it’s worth anything now. There are zero use cases for it that supersede cash.

How many people use gold for daily purchases? Is it worthless?

False equivalence.

Gold is held by governments as national reserves to back their currencies. I.e., it's accepted for the purpose of trade between nations. Cryptos are not.

[Nicolaus Copernicus]

In my opinion, if anyone joins in the crypto market, keeping patience is the most important thing that will help people to make a profit. Those who are not enduring, he/she will not succeed in this crypto market.

[karagun125]

Good to know of your three things that we should not do to bitcoin when its price drops, but i have also my own, and i think the three is:
1. Be calm - stay calm and just relax, dont do anything that will panic you, everything seems to be right, prices fluctuates and sometimes it increase also decrease,
2. Think - we should think of any ideas for the decision making, wheter to hold your bitcoins, or sell it. If just incase.
3. Decide - after getting ideas, decide by what you think what your instinct is. Wheter to sell if there is profit or hold your bitcoins, or maybe buy some more for future investments.

[JovhanHermias]

First you should not browse in social media that tackles negativity of cryptocurrency because it will affect your decision whether you hold or sell your coins, secondly you should not sell your coin if the price is in bottom you will just lost double amount of money from doing it, lastly you should not worry and keep investing when the price is in dip.

[Ferrytale1]

Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.

I disagree here, if you're a fast follower and can quickly read charts from small movements, you can join the train, before it becomes a bandwagon..

[Nnedaddy1]

You should  not panic or follow the crowd fuding about the market downward trend.

You should  not panic sell your holding  at loss.

You should buy more digital assets if you have the wherewithal to do that.

[Kakmakr]

The first thing I do when the price drop, is to look for things I can sell to get more fiat to buy all these cheap coins. Now I know a lot of people are just saying this, but I seriously look for ways to get more fiat to be able in a position to buy more coins when the price drop.

I have bought coins recently at $6000+ and sold them after a few days for $7300. <After fees & taxes, my net profit was +/- $1000 per coin and this is why I just love a drop in the price, because it means more profit when the price goes up again> 

[insurgent]

Trading or investing in the Crypto market is a psychological battle for yourself. Securities investors often say that investing in traditional markets requires very high disciplinary action. This demonstrates how they will control themselves for the volatility of the market. How can they eliminate the wrong decisions that most people still make and adhere to the strategies they have set.
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "

That is right , we must not sell our bitcoin when the price drops because we cant get the profit that we desired. We must stay calm and relax , dont overthink about it. Some of us choose to panic , which is bad because no matter what you think it wont change the price tho.

[Fitrilalala]

Trading or investing in the Crypto market is a psychological battle for yourself. Securities investors often say that investing in traditional markets requires very high disciplinary action. This demonstrates how they will control themselves for the volatility of the market. How can they eliminate the wrong decisions that most people still make and adhere to the strategies they have set.
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "

Yes but i do think it would be wise to know when to sell and when to buy and dont be greedy. I also completly agree with the last statement to not stare at the charts all days. Its painfull and bad for your psychological and it makes you keep worrying about your investments.

[BlackPanda]

First you should not browse in social media that tackles negativity of cryptocurrency because it will affect your decision whether you hold or sell your coins, secondly you should not sell your coin if the price is in bottom you will just lost double amount of money from doing it, lastly you should not worry and keep investing when the price is in dip.

That is a careful opinion. Always reading negative news will make our mindset change and ultimately will not invest in cryptocurrency.
So what we have to do is continue to look at the situation of cryptocurrency development and try to avoid seeing negative news that is related to the current price decline.

[beckspace]

Everyone can make money on the bull market and there are many opportunities to make a profit on the bear market. First of all, it is important not to spend the whole of the money we will use for investment. So when the price drops we can buy a little more and then we can sell profitably on the rise. it must always be cash money.

[GoldOrBTC]

Agreed, mate. Many investors start selling off their coins when the price starts rising. This brings a bad impact in the market. We need to be very patient and hold about coins for long term investments.

[MetaPhorse007]

What you have stated in the post is highly agreeable. But at the same time, it depends from people to people too, becuase we all do not think alike.

[moonami]

Trading or investing in the Crypto market is a psychological battle for yourself. Securities investors often say that investing in traditional markets requires very high disciplinary action. This demonstrates how they will control themselves for the volatility of the market. How can they eliminate the wrong decisions that most people still make and adhere to the strategies they have set.
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "

For me, the three things that you should not do when bitcoin prices drop is that first don't do the panic selling. Second one is don't believe in the fake news that bitcoin will end. And lastly don't quit bitcoin.

[BumblingBee]

I agree with your suggestions. And one thing I want to add is people mistake mostly by doing the second point which is selling the coin when it starts soaring. this is the worst decision I think made by anyone

[Bakugan]

Trading or investing in the Crypto market is a psychological battle for yourself. Securities investors often say that investing in traditional markets requires very high disciplinary action. This demonstrates how they will control themselves for the volatility of the market. How can they eliminate the wrong decisions that most people still make and adhere to the strategies they have set.
If traditional markets require discipline, the Crypto market requires resilience and a sense of steel. The Crypto market has tremendous fluctuations in comparison to other markets in the world, in this market the preparation of emotions and keeping a cool head for a trader requires a lot of practice.
Here are the things you need to remember and when you need the best psychology for a Trader to cope with market fluctuations.
Do not try to catch the right market!
If you are really lucky to have a source of money to invest in when the market goes down, it can be a good time to start making money. Many people keep thinking about adjusting the market as a "Flash Sales", and always try to think of getting the bottom right of Bitcoin to make the most profit, but then you will notice the bottom of the day. this is the peak of tomorrow.
When you look at price charts, look at the price of coin straight into the pit, you ask yourself when it will stop the price drop? You are catching yourself to catch the bottom of this rebate. Getting the bottom means you are trying to trade in a bottom of a downtrend trend. It must be emphasized that it is really difficult to get the bottom right in a downward trend, which is just like posting a knife with a high velocity.
If you still insist on capturing the bottom of the rebate, you are missing out on a lot of better earning opportunities. There may be times when the secret is simply "ONLY, ONLY AND ONLY" until you have identified a trend reversal of the market. Many people lose more when they keep their view on having the most profit when they catch the bottom. From time to time, you intend to place orders when thinking that the current price is closer to the bottom of the market than waiting to determine the right trend.
Do not sell your coin when looking at your coin soaring!
Many people have done this, the general psychological tendency of the market. Many stories share the same plot, and each time you see a coin A rising drastically, you start to sell your Coin B and immediately jump into Coin A. The psychological effect is called The FOMO is a normal fear of human psychology but is really dangerous in the Crypto market.
Do not stare at the Chart all day!
Those who have just entered the market, will spend a lot of time to "charting". Looking back, if you are honest with yourself, how much time you wasted. You spend a lot of time learning and learning the knowledge and application, but also spend a lot of time aimlessly to look forever into the computer screen with the red blue.
Sometimes the best thing you can do is to put a little order, walk scattered, trust the strategy you set, and remember "IF YOU DO NOT COME BACK TO YOUR STRATEGY, YOU ARE SURFING IN THE MARKET "

That is right we dont need to monitor the price in every single minute. This suggestion will help to make people realize the things they need to do. We must be aware and be patient at everything.