Three things not to do when Bitcoin prices are down

[likerseld]

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.

I wish everyone can think in a way where they so much focus on the future than trying to get their emotions driven up by current outcomes of market. A downtrend is a normal thing, but it is always a good thing to be well informed on how you really should be going about things than panicking or making the wrong moves in a market as the case may be.

As long as you have your goals and you look forward to achieving those goals, equipping yourself with knowledge to make good decisions will always be there.

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[Silberman]

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.

This is good advice but I think you left the most important thing that you should not do when the price is going down, and that is to not sell in panic, if you're going to sell your coins you need to do it because you are either obtaining profits or because you are leaving behind a position that you opened and you realized that you made a mistake, you never sell because you are in panic that is the fast way to lose all your money.

[Mobius]

I think the most popular thing to do on this forum is to just HODL. I tend to take a break from crypto when the price is in decline.

[Slow death]

Do not try to catch the bottom correctly

here first the person has to know how to identify the bottom correctly

Not sold when prices are rising

Hmm, I think the person should sell whenever he realizes that the price has gone up and he has profits, But in the case of buying and insuring for many years then it is better not to sell when the price goes up

Do not stare at the chart all day

this will be effective for those who buy and hold for a long time, because for day trade does not work

[rhodelmabanal]

Do not try to catch the bottom correctly

here first the person has to know how to identify the bottom correctly

Not sold when prices are rising

Hmm, I think the person should sell whenever he realizes that the price has gone up and he has profits, But in the case of buying and insuring for many years then it is better not to sell when the price goes up

Do not stare at the chart all day

this will be effective for those who buy and hold for a long time, because for day trade does not work

I agree mate, day trades will kill us by the time your expectation will not hit the target. Possible panic will create massive changes for the price in the marketplaces, and yet if many people was influenced it will became chaos which definitely disappointing for every holders. Holding coins for long term is really suggested during the declined price of coins in the marketplace, and its just a matter of survival methods.

[LeGaulois]

The guy used a spinner (or manually) to rewrite an article from the Hackernoon https://hackernoon.com/3-things-not-to-do-when-bitcoin-is-going-down-e80097d15796 [3 Things Not to Do When Bitcoin is Going Down]

Pathetic. Trying to look smart by the using the idea from others. On the top of that, not smart to spin an article correctly. pff

[Ararbermas]

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.

yes probably a good decision to avoid being greedy or panicking. And it's a big help as well to become not frustrated on it, because honestly that is the common reason nowadays why holders is hopeless . So much better to stay way on it for a while and do something else . Lol

[buwaytress]

Not sell when prices are rising? I don't sell at any particular time since I have a fixed timeframe and expenses, but I do try to time a little if prices seem to be rising to delay.

In fact, almost anyone who's been selling when prices rise over the past few months would have scalped decent amounts. Trade channels seem to suggest some have done this with success. The past few rises have also reached lower highs, stemmed by higher lows for sure, but they're making all those single digit percentage profits.

All I'm saying. No "mistakes" except to go with your gut, in ehich case, yeah you have good points.

[btcyoda]

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.

yes probably a good decision to avoid being greedy or panicking. And it's a big help as well to become not frustrated on it, because honestly that is the common reason nowadays why holders is hopeless . So much better to stay way on it for a while and do something else . Lol

Instead of selling them for loos it is better to stay away from the market when the price is kept declining otherwise you will be losing the value. When the price is kept decreasing we will become panic about the market and start selling them at a low price.

[Turst1974]

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.

This is really the thing that must be done. Do not sell during the market on red state, or when it is down, probably hodl and wait for the time when the market turns green or rise again the value. Then it is the perfect time to earn money. Being smart is indeed needed for the bitcoin 's market.

Yeah you are right; there is huge volatility in the price of bitcoin. Vicissitudes now builten with bitcoin price. Investors should understand this and prepare themselves for any conditions. The price is almost stable between $6000 and $7000. Anything could be happen in the near future but we should be optimistic and never panic about the dip in the price.

[palle11]

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.

Funny.  To say this is easy but to do it is very difficult. Have you heard of addiction? If you are addicted to something, it is difficult to just take a decision against it and moreover, it is the emotion and finance that we are talking about here.

[TheGreatPython]

I think the most popular thing to do on this forum is to just HODL. I tend to take a break from crypto when the price is in decline.

Looking at most of the things that have been said by the OP, it can only be applicable to someone who knows how to trade, who can identify a bottom and a market about switching trends, who would obviously know when to sell and all of that.

Generally, this is a decision a bunch of people may not be able to make since they have little or no knowledge to some of the ways they can make this a reality which in this case, and like you said, the best thing is to just HODL what you have, buy and keep buying as the market keeps going down and never dropping the HODL idea from your head in any case.

As long as you are not joining FOMO and you are not panicking as a result of FUD to sell at loss, but rather take advantage of a bleeding market, then you will be fine.

[wuvdoll]

Not sell when prices are rising? I don't sell at any particular time since I have a fixed timeframe and expenses, but I do try to time a little if prices seem to be rising to delay.

In fact, almost anyone who's been selling when prices rise over the past few months would have scalped decent amounts. Trade channels seem to suggest some have done this with success. The past few rises have also reached lower highs, stemmed by higher lows for sure, but they're making all those single digit percentage profits.

All I'm saying. No "mistakes" except to go with your gut, in ehich case, yeah you have good points.

One thing that is flawed in what he has said is simply the fact that this is not a list of things everyone will be able to do and only those who have some good knowledge on probably analyzing the charts, identifying what a bottom looks like and when to accumulate, or identifying when to be selling based on a trend changing, will obviously be able to do some of the things he has mentioned.

Until you do not have knowledge to make important decisions, I would not even advise anyone to just go with whatever that just comes to head, but should rather just focus on the long term, buy lower prices as long as they have the cash to buy and then hold for as long as they can. I am sure in 5 years from now; the market will not be the way it is currently.

[carlisle1]

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.

What a great advices,thanks for this dude,as i am always been staring at the chart but can manage to hold,and never be affected to become panicked

And i never sell when pices are rising because patience is the virtue to stay long and gaining here in cryptocurrency

[South Park]

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.

Your first point is probably one of the most common mistakes that I see people making in this market, they always want to buy bitcoin at the cheapest possible price and while some are lucky and can do exactly that, as long as you buy when the price is low enough then you're going to make profits in the future and there is no point stressing over it like many people do.

[finlandais]

The three major things which we need to do when price of BTC is low that just keep your coins with you, don't sell them untill or unless their is any urgent need.Second, if you are not having enough coins in your wallet just purchase new coins at this time and third and the most important thing is don't panic at all because panic selling contribute to dump.

[Theb]

One thing that is flawed in what he has said is simply the fact that this is not a list of things everyone will be able to do and only those who have some good knowledge on probably analyzing the charts, identifying what a bottom looks like and when to accumulate, or identifying when to be selling based on a trend changing, will obviously be able to do some of the things he has mentioned.

Until you do not have knowledge to make important decisions, I would not even advise anyone to just go with whatever that just comes to head, but should rather just focus on the long term, buy lower prices as long as they have the cash to buy and then hold for as long as they can. I am sure in 5 years from now; the market will not be the way it is currently.

You are correct, I cannot call this as a guide to someone who does not know anything about trading. This at best only serves as a reminder for people who already know what they are doing in the cryptocurrency market. To tell you frankly the guide he simply posted really is not benefiting to anyone who already know what they are doing as they will not see this post as helpful. For people who want to understand what OP is trying to say you better start learning technical analysis and the terms involve with it as you will really be left out with what he is trying to say.

[Kevin77]

I cannot call this as a guide to someone who does not know anything about trading. This at best only serves as a reminder for people who already know what they are doing in the cryptocurrency market. To tell you frankly the guide he simply posted really is not benefiting to anyone who already know what they are doing as they will not see this post as helpful. For people who want to understand what OP is trying to say you better start learning technical analysis and the terms involve with it as you will really be left out with what he is trying to say.

Yeah right, the aspect of knowing when to buy, when to sell, how to play with the market is something that would be very hard for most people to do. Usually, a sane trader will know what it is like to be joining FOMO and why he should not, most especially when a market is overbought, but these are terms or conditions that only those who have an understanding of the way market is and know how to trade it or make decisions based on those conditions.

The best advice overall for most people who do not have much understanding of the market is to just hold and buy the dips more if they have the chance. Anything outside that and with what the OP said, anyone without the knowledge will not understand.

[panjul07]

I'm not fully agree with the 2nd thing, why we should not sell when the price is rising? If I have a target of profit and my target is reached while it is raising, I will sell it without any doubts. Probably I will not sell it all but I will keep some percent for higher price.
My main purpose is obviously for getting profit, so when there is a chance to get profit then I'll take it no matter what is happening with the price.

[deisik]

I think the most popular thing to do on this forum is to just HODL. I tend to take a break from crypto when the price is in decline.

In fact, you can read different opinions, sometimes very opposite

Another fact, which is called selection bias, is that the supporters of the HODL approach may be just a little more vocal than those who silently follow other strategies. In this manner, you may inadvertently come to a conclusion that "hodling" is a dominating avenue of pursuing profits in the cryptoworld among the local population, while in reality it may be quite the other way around. Recently this strategy hasn't been very profitable (mildly speaking) and so you hear a lot of noise about it as those who actually earn money are typically not very much inclined to tell the world about their success



As the saying goes, silence is the sound of money talking