Three things not to do when Bitcoin prices are down

[liennhung345323]

In the emotional market, price volatility is driven by emotions. To emerge on a market driven by emotion, you have to eliminate emotion from your trading.
Here I will talk about what you should do and should not do in this market. It is very difficult to keep up with Bitcoin prices and you will wonder whether Bitcoin prices will return to this level again. I can not predict this, but most people are confident that prices will recover.
Do not try to catch the bottom correctly
If you are fortunate enough to have some of your capital when the market declines, this may be a good time to build your portfolio. I like the market's adjustment and almost no participation when the market is falling sharply - but bottom-fishing when the market fell has made me several times heavy losses.
Not sold when prices are rising
All of us have bottomed out in the downtrend just to wait until the price goes up.
It seems that every time I get entangled in FOMO and proceed to sell immediately the price of that kind of coin increased.
Do not stare at the chart all day
Whether you like it or not, you can not control the market up or down at your own discretion.
Trust me, initially, I also spent countless hours tracking the chart. Now, I find myself wasting that time. Sure, I spent a lot of time researching and applying what I learned for my trading, but I also spent a lot of time staring at the computer screen for hours on end. Track charts.
I learned that most of my mistakes were made in such moments. Taking hours to look at a continuous chart will make you fatigued and may make emotional decisions.
Maybe this is my share of nothing special with the experienced trader but I think it may be very useful for newbie.

[socks435]

It's normal for bitcoin to see the price falling and I think you should always do the basic thing to get the advantage of "buy low and sell high" because if you don't know the basic way you will always end up losing your investment by trading so every time the price drops you must buy bitcoin because you don't know if what is the bottom price so buying bitcoin after the drop is the best opportunity to buy cheap price of bitcoin and sell it when the price reaches 10% or more.

[Gozie51]

Nice writing and I want to add this idea too: Don't chase or pursue the market, depending on the way you regard the term.

The market is ready to defit a trader multiple times like no man's business. That is, the pain of losing a trade might cause a trader to always want to get in and recover his or her money whether is a ready market or not but this is a wrong trading decision. Be patient to spot a good entry point maybe the next day of trade.

[Bugatti73]

I would recommend switching to a completely different kind of activity, so as not to make mistakes while the market is not stable.

[DenCho?]

Is not it a theme for a Trading brunch? Because we can say the same according to any coin not only Bitcoin)

I could add to your list don't trade against the global trend if you are not a good trader During autumn rally i've tryed many times to rebuy btc lower, but in the end i had to buy it higher not to miss the global move) i realised that i can trade both sides only when it is flat trend)

[FlamingFingers]

I agree with the first two, but respectfully disagree with the third. Staring at charts all day is surely not so good for your eyes or your brain, however, it might teach you patterns of the crypto market movements and trading strategies that you can apply according to the market situation. This is the essence of Technical Analysis—trying to predict the market's next movement by looking at and studying past data. Learning this will help you avoid the first two as well.

[Marcel666]

Not sold when prices are rising
All of us have bottomed out in the downtrend just to wait until the price goes up.
It seems that every time I get entangled in FOMO and proceed to sell immediately the price of that kind of coin increased.

The right time to sell is subjective.
It depends on what factors or combination of factors caused the rise. If it is an organic growth. Then you can hold up for a higher price. It's best to have a target profit when investing.
And also consider the current volume.

[YuginKadoya]

In my opinion, doing things elaborately will sure make you tend to make wrong decision so I guess taking this with Cryptocurrency is a wrong move, Because doing this in a detailed manner you cannot actually predict the situation on what may happen with the price of bitcoin because it is really unpredictable saying that you are about to make a sell on a said amount when the price makes an increase you can not detail out what price you want to sell your bitcoin and you wrongly predicted it then the price plummets mids your prefer price then you will have a decision that is wasted, I really think you should have many plans for what may happen with the price giving cryptocurrency a one outline on what to happen will only end up in a poor conclusion.

[javainn]

if I speak three things I think that is too much, I just give advice on things that don't need to be done when bitcoin prices go down, don't panic sell and sell bitcoin at low prices so stay stay on bitcoin and arrive at the highest price.

[ambisyon]

In the btc market, I believe that volatility and market fluctuations are just part of the btc market condition which is just normal. Experienced people in the btc market already knew the drill in times of bear market where most usually hold their Btc's and buy more at a lesser price. Once the market condition is favorable, take the profit and leave the capital behind.

[qumeijia]

Nice to read it and I would like to share my idea about it. The most important is that not being a panic trader, commonly trader are becoming panic when see the market is falling down. Ones should they always be realized is that bitcoin is not same as gold and silver, it is volatile. Therefore, we suppose not become panic seeing the market down.

[rickn]

Some of these tips are good, but actually as I am a long term investor, I just keep my bitcoin in my wallet waiting for the bullish movement again

[Thecryptocurrency09]

In the emotional market, price volatility is driven by emotions. To emerge on a market driven by emotion, you have to eliminate emotion from your trading.
Here I will talk about what you should do and should not do in this market. It is very difficult to keep up with Bitcoin prices and you will wonder whether Bitcoin prices will return to this level again. I can not predict this, but most people are confident that prices will recover.
Do not try to catch the bottom correctly
If you are fortunate enough to have some of your capital when the market declines, this may be a good time to build your portfolio. I like the market's adjustment and almost no participation when the market is falling sharply - but bottom-fishing when the market fell has made me several times heavy losses.
Not sold when prices are rising
All of us have bottomed out in the downtrend just to wait until the price goes up.
It seems that every time I get entangled in FOMO and proceed to sell immediately the price of that kind of coin increased.
Do not stare at the chart all day
Whether you like it or not, you can not control the market up or down at your own discretion.
Trust me, initially, I also spent countless hours tracking the chart. Now, I find myself wasting that time. Sure, I spent a lot of time researching and applying what I learned for my trading, but I also spent a lot of time staring at the computer screen for hours on end. Track charts.
I learned that most of my mistakes were made in such moments. Taking hours to look at a continuous chart will make you fatigued and may make emotional decisions.
Maybe this is my share of nothing special with the experienced trader but I think it may be very useful for newbie.

It is a good thing that we still has something to do when it comes to the lowing of bitcoin price in the market. I believe that many of us may possibly be panicking at that time that is why it is good to take notes of things you can do while its price is at that stage.

[randegibran]

the nice info that you give me will share, but if we focus too much like that it is not good too, the point is when the price is more turrun it is your time to buy and when you are not able to buy i think you need to hold and don't panic

[omorfi]

If the price of bitcoin is falling, stop following the prices to avoid being affected psychologically. Turn your monitor off and just go outside and do something else.

[batang_bitcoin]

In short, don't be so emotional when the price goes down, this will drive you to do crazy things that you'll ever regret after deciding.

Cause you panic.
Making you FOMO.
Making you think that its the end for the whole crypto market and there's no more hope.

[Olalomi]

A nice write up emotionally I do attached myself to watching the price (blackfolio)  every now and then I have read and understand  some useful comments on how to overcome it, I also agreed on trying not to catch the bottom when the price is falling of course Cryptos are very volatile nobody can predict where exactly the bearish run will subside to avoid draw down especially when buying low.

[odolvlobo]

You did not mention the most important thing to not do.

Do not base your decisions on the past.

Just thinking that the price is "down" is a mistake because you are comparing the current price to the past.

The past is gone. It is no longer relevant. It has no bearing on the future. Forget about how things used to be. Only look on how things might be.

[Ciscopro2000]

The crypto market is a volatile market.  If you don’t have the stomach to ride out the downswings, maybe you need to put your money in a CD or something similar.  One should buy a little bit bitcoin when it’s relatively low now compared to late last year, then hold for a few years, I guarantee you will not regret your decision.  Cheers!

[killat]

Panick sell is the worst thing you can do when price is down.

I think no one can know what is expected for Bitcoin or any other cryptocurrency. Unlike what a lot of people think December was the best thing ever happened to Bitcoin, since then so many developments started for a better technology and for easier UX; with the purposes of mass adoption.
It's really all about DEVELOPMENT, more things need to come and become better and if everything will go right then Bitcoin can reach 1m easily.
Exactly as it is? Bitcoin will die to $0. But the good thing is that it's always getting improved by protocols and third-party developments.