Three things you should not do when Bitcoin prices drop!

[Jammypoe]

They are practical steps really, however, it will be kind of difficult to follow and adhere to. Where your treasure is, there your heart will be also. It can only be followed strictly if the amount invested isn't that much. But where it's a substantial sum, you'll literally be living from following charts to seeing greens everyday. To be candid, the points you raised were awesome. Looking at charts all day long could make one vulnerable to anything. A little flashlight of green here and there could make one to sell, without much recourse to if it will improve. One tends to calculate hurriedly in such circumstances. All are geared towards eliminating being a panic seller. Thanks for the tips.

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[wxa7115]

Also - do not panic sell! thats a really big mistake newbies make !!

Panic selling is probably one of the biggest mistakes a newbie or anyone can make, and unfortunately it is the mistake that we are seeing the most at this time, this is especially true for ethereum, a coin that has been hit the hardest when it comes to its price because as we know a lot of icos are having problems getting money in order to develop of their projects, and as you may guess this creates a vicious circle in which a decrease in the price of ethereum creates even more panic and then more people sell.

However I have the opinion that ethereum is going to recover and when it does all of those that sold their coins are going to be very sorry for their actions while people like us that take advantage of the great prices are going to be very happy with their profits.

[krishnaverma]

I am definetely not going to sell my coins at the current  prices.

Current I am in loss especially with coins like ETH where the loss is about 30%. I am  expecting growth in coming years.Day tomorrow is also very important in my opinion when there is judgement coming in India. If they give a decision in favor of crypto, it will help to accelerate the prices.

[HAKHALI]

OMG!!! these 3 things are exactly  what i have done always in such situation!!! so i am a big looser  .
many thanks for your great advice . i will try to be more patient and trade without emotional reaction .   

[Dudeperfect]

Let me share my own experience here, I have lost my capital multiple times in my initial days of trading when I used to trade based on the others opinion without doing my own research and hence it is something that I would never recommend to others. Whenever the price falls, we generally put ourselves under the panic situation and take decisions just because the other guy is doing the same.

[ChiefPotato]

I want to welcome you for sharing these important three points. Most of us among crypto lover get mad when price fall. I suggest them to follow these three rules. One of another point ,dont be insane while price fall down. Be careful with your crypto and wallet.

[DimHorse]

Thanks for your nice information. we know that the price in Bitcoin market as well as in crypto market is not stable at all. anytime price may fall or rise. It's totally depend on investment that make market Cap.

[BTCPair1000]

There are so many more things that you should have added to the list but it's okay, the ones that you said are the important ones. However, I think the most important one is to forget about that I am holding a Bitcoin, it really helps you to keep your head cool and not to lose your patience and panic.

[UmitatsuKen]

I have to admit that I am really glad that you asked cause because of lack of information most of the time people makes major mistakes on this period , first of all you have to be clam don't take hush decisions then hold the transaction for a while as long the market got improved.

[cryptodalton]

I agree with you in these points. I think every bitcoin investors should know these things. Because many investor do panic sales when the price falls which is bad for the market.

[EscapePlanETH]

Very good advice indeed. But people now a days have no knowledge about the market that's why they get paniced when the price goes down.

[Akmallesy]

I agree, indeed a trader is carried away by these three factors, but the most profitable one in my opinion is that trading cannot be done at any time to buy certain coins but buying bitcoin at the right time is right for us to have to wait weeks or even months for stay away from the risk of loss.

[SladderyNewS]

Solid counsel, I have constantly kept up that tolerance is required and the capacity to control our feelings is required when seeing the market. Another thing we can do is to stay away from the news that can influence our behavior at that time.

[Crafts12]

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 "

Well that was indeed true! I would like to add that if you see that the price is hitting the bottom I suggest that do not I reoeat do not do the panic selling because it will not bring any luck to you. It will only cause a disaster for your coin that you will regret later on. So if you see the market which is the dropping of price of bitcoin, learn how to wait patiently because it will rise once again.

[cizatext]

You are correct stirring at the price chart each and every time will drive you into making hasty decision thatay result in lose so stay away from the price chat for a while, and also never sale out of panic this is another major way you lose your bitcoin you see many people rushing to sale during a Sharp price fall and at the end tends to lose they bitcoin to FUDS who are the originator of fake news that have negative effects on the bitcoin market most times.

[nehemiah31]

First thing, do not sell your bitcoin.You have to wait until the price of bictoin goes up.Secondly, do not be impatient because the bictoin price will go back to its value amd can still inflate.Lastly, do not trade or else you will not gain profit.

[Olayinka225]

Yes i very much agree with you

Do not
panic sell
do not be impatient
be patient
have a rest from trading for sometime
DYOR
relax

[94K]

That's is really true and I have gotten something out from your post. What I personally do when the btc price goes down is that, I make sure I exchange is for USDT and then reconvert it back when it hits the moon. That's my secrete and it has really helped me.   

[Antonina]

in the first do not lose heart and do not get upset, secondly, in no case to sell bitcoin and thirdly not to sell bitcoin

[sufiasyl]

Thank you for your advice, I think it can be helpful. I liked some points like invest in going down market, not selling coin at the time of soar and most liked about the suggestion regarding time management. We should need to utilize our time properly.