Three things you should not do when Bitcoin prices drop!

[andylioe78]

I always maintain patience and the ability to control emotions when I see the market. If I feel nervous and afraid that investment in crypto is not recommended. The best thing to do when you experience a fall Don't panic and don't sell your assets.

[donadoni212]

You should also remember that we should not panic and hurry to sell it when prices fall

not selling, not buying coins that have not been proven to have a future. not sad, panic, cry. My advice in the down market condition is to buy coins that have a future and save until the market rises again.

[TheKeyLongThumbI]

Another thing I want to add is to stay away from unreliable media outlets that does not spit the truth. They are very good at spreading FUD so if you are following them in the great bear period then there's a great chance that you will get convinced by these people to sell all your assets and exit forever.

[jtrapirap]

Great thread mate, very helpful tips for the newcomers here in cryptocurrency and aspiring traders on how to do wise trading on the volatile crypto market. I like all your tips, sometimes fear to take a risk is what dragging us down on investing here in crypto and the opportunity of earning huge profits here would not happen if you just stare on the market and dont make a move.

[NickVick]

I just started to participate in bitcoin so need some useful information, thank you very much

[virasog]

What you express is true, when a sharp decline in prices and in a long time, usually causes panic and some people sell the coins they have to switch to buying other coins that they see are rising. In my opinion, when the price of bitcoin goes down then we should stay focused and believe that prices will rise again. The best step is to remain patient, wait, and remain confident in what is our choice, so that in the end we will win a profit through a bitcoin investment we live.

For me, the best scenario is this: when I see that coin A is growing, I sell my half-dead coins and buy live coin A. With this coin, I can earn a little while, and with half-dead coins, I can lose even more.

This is not a good approach.  What if you sell your dead coins to jump in a growing coin, and then suddenly the growing coin which is already 5 to 6% up start to decline and your dead coin start to move up. This way you will be in no mans land and eventually lose more rather than gaining.

[kendra1107]

Buy low, sell high! That's all there is to it. Not only for Bitcoin but for any cryptocurrency. A basic rule that many still can't grasp because they get confused and panic easily. Trading is a mind game and it does require some skills particularly on market analysis. Bit it doesn't take a genius to understand how 'buy low, sell high' works.

[NickVick]

it may on the complete option, with the current status you cannot be wait, which is not look to the expression

[qiwoman2]

Looking for the bottom is always the hardest thing to pinpoint, everyone says 'buy the dip' then it dips harder lol so you need to layer in your buys and sells. This is what I have been thinking and even though it is hard ti implement it is doable, but you really need to be patient, whether you are trading or hodling Bitcoin. This market is not for the risk-averse of impatient types. Whales become patient because they wait always to scoop up at the very bottom when everyone else is selling off and panicking. They control the news and the FUD and FOMO that comes out of the  mass media outlets as well.

[DennyPen]

Looking for the bottom is always the hardest thing to pinpoint, everyone says 'buy the dip' then it dips harder lol so you need to layer in your buys and sells. This is what I have been thinking and even though it is hard ti implement it is doable, but you really need to be patient, whether you are trading or hodling Bitcoin. This market is not for the risk-averse of impatient types. Whales become patient because they wait always to scoop up at the very bottom when everyone else is selling off and panicking. They control the news and the FUD and FOMO that comes out of the  mass media outlets as well.

Agree. The other thing is to respect the cycles. We can see that probably every bear cycles, although we had had only 2 before, are getting longer. From that perspective, we can predict that crypto will find it's bottom somewhere in mid/end 2019. That's the logical viewpoint, but of course some deviation may take place, so layering buys and sell is definitely a good option.

[BCTalkaccountforsale]

This is my own opinion 3 things you should not do when Bitcoin prices drop:
1. Do not worry too much.
2. Do not focus on the price of Bitcoin it will cause you to lose temper.
3. Do not sell all the Bitcoins that are holding when the price drops because no one knows in advance what the Bitcoin price will be like.

[aad140386]

Your advices is very correct. I think that many have heard of them before, but the main problem lies not in ignorance of the rules of trade, but in their observance. Very often, traders do not have enough trade discipline, and not ignorance of the rules. Often it even happens that the trader has drawn up his trading plan, but does not follow him, for various reasons. And this is the main reason that people lose money when trading.

[pinoyden]

3. Do not sell all the Bitcoins that are holding when the price drops because no one knows in advance what the Bitcoin price will be like.

Of course no one will sell their bitcoins when the value is dropping because they will only loose if they insist to do it however its still up to the person if he or she really needs cash badly . theres nothing really wrong in selling as long as you know that you will be geting a benefit with it .

In my case , i dont practice three things because my mind is already set for a long term goal . no matter what  happens , even if the price rise or fall i wont ever sell any of my bitcoins because i have a good plans for them on the future .

[jems]

I just started to participate in bitcoin so need some useful information, thank you very much

Welcome friends, don't hesitate to discuss a lot of things you don't know about the world of crypto in this forum. When we can, we will help you. And a little extra you should read more or do questions and answers in the beginner and help section.

[Hustinog]

That's right, that's the right thing we should do when the price drops. We need to hold, we need to buy and do not intend to sell because you will probably lose. These things can minimize the risk of loss. It depends on the situation of anyone of us or what we really want to do. We have our own move and strategy, but these thread already told the right thing to do. 

[pinkpanther03]

In the first place when Bitcoin gets dump it value price, stay at ease and relax. That's one of the good attitude of a true and professional trader in the market. Be a bullish, if you don't want to take risk your coins or investment, due to with this you can maximize your risk at all, then lastly never allow your emotions controls you which is always happened lead the traders to sell their coins even the price totally declined.

[Perunex]

The most important thing is to do DYOR and have a plan when entering a position. Set yourself an exit number and follow it no matter what...

Buying at all time low and selling at all time high is impossible! Just try to grab the meat - that will be somewhere in between.


For the longterm holdings: If you believe in the project, the current price is irrelevant for you. Relevant is only the development of the project and if you are satisfied with it. If you are not sell it.

[AiBBio]

When prices drop we cannot blame ourselves when we felt nervous and scared but this is not advisable to do when investing in crypto. The best things to do while we experiencing downfall are the following:
1. We don't need to be scared or afraid when we experiencing downfall because as we remembered this system are usually has a very high volatility therefore downfall is very usual things to happened.
2. Don't easily give up and immediately sell our coins because the investors that has a stronger believe and trust to this system and keep holding their coins are the people that has a big chances to be successful in the near future.
3. Don't look at the dark side of it's long period of downfall, thus, kindly considering it that it will be the best and perfect time to buy more of it and then keep on holding it until it will fully recover again before we sell it so by that time we can be able to become one of the successful investors in the future.

[iMark]

In the first place when Bitcoin gets dump it value price, stay at ease and relax. That's one of the good attitude of a true and professional trader in the market. Be a bullish, if you don't want to take risk your coins or investment, due to with this you can maximize your risk at all, then lastly never allow your emotions controls you which is always happened lead the traders to sell their coins even the price totally declined.

The magnitude of the falling prices will be directly proportional to the level of fear experienced by each trader and I think it's natural because they have assets there. you're right, professional traders and good atittude will certainly have good self-control, they won't let themselves fall into panic

[walemil]

I agree with you totally. Usually, when the price of bitcoin drops, the price of the majority of the cryptocurrencies also drops. This is supposed to be considered as an investment opportunity as you are able to buy cheap the coins whose prices will rise with time.