Don't start your day by checking the price of bitcoin in the morning.

[Ale75Opus]

Many investors get addicted to checking the price of bitcoin first thing in the morning whether it be they're semi-holders or HODLERS (aiming to hodl for a very long time) . I read somewhere in respect to the stock market stating that, 'many investors day is determine by the price of his/her investment, leading to a great start if the price is up and bad start if price is down", because they checked the price of their investment first thing in the morning.
Although this information was based on the stock market, I know it also occurs in the Crypto market therefore I decided to give this advice here to benefit members of this forum, "avoid checking the price of bitcoin immediately you wake up in the morning, by so doing you're subconsciously programing your brain to response based on the price of bitcoin daily and these isn't good for your health. there's no gain in having wealth without health because health is wealth.

Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.


Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Edited: advise is for bitcoin not some shitcoin wanna be bitcoin, if you invest in any of those, please check them every 5mins for that big pump so you dump lol

Perhaps you are certainly right, but I probably cannot change my habits. For me, trading in this market is the main job, and for me it is very important to control the situation and control the prices of coins. Just in time, I stopped taking everything to heart and get upset about falling prices. Now I am more relaxed about everything and feel more confident when I check the price of Bitcoin in the morning

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[yhan2x]

when i open my explorer ill browse and check the market price time to time. so i have an idea when i need to trade my coins.

[zazarb]

Checking the price of BTC in the morning doesn't mean it will reduce the price further buddy but to know whether the market is moving or not. I think its never a bad idea check the market early in the morning and even before you go to bed.   

You don't understand what I'm trying to say, I'm not saying checking the price of bitcoin is bad but the intention used in checking the price is what I'm concerned about. What if you check the price in the morning and it has dip making your capital reduced by almost 30%  it may end up making you to be sad the whole day which is not good and most time it leads to High blood pressure.

It's a psychological thing, if such things affect you so much, then you're not in the right place. Because every smart person who trades in this market understands that the price can not rise every day , so he does not care so much when he finds a fall in prices as he gets up.

[Market-desi]

if I have no day except investing in bitcoin and altcoin. and I almost every day and time always check the bitcoin and coin prices that I bought using bitcoin. because I really want to learn and pay attention to the bitcoin price chart

[qiman]

Well all depends on if you day trade for a living or if you want to grow a long term pension fund or wealth building activity. It is hard for those who own Bitcoin and trade daily not to look at the price but if you have made the commitment to invest long term, then looking daily in the morning might not be so important, unless of course we have a moon landing then you would want to press the sell button for that.

[Crypto Girl]

A lot of people are anticipating a repeat of last years performance, so they constantly have to check the price to see when the push will come.

And that reality still strike us, yeah some of us are silently hoping that one morning we will wake up that the price had reach new ath, we're actually waiting in vain tho. I don't think checking the price is such an addiction, as long as you're used to all of these pump and dump and you didn't easily sway by fuds then nothing can change on how you look the market.

[happy weblancer]

Checking the price of BTC in the morning doesn't mean it will reduce the price further buddy but to know whether the market is moving or not. I think its never a bad idea check the market early in the morning and even before you go to bed.    

You don't understand what I'm trying to say, I'm not saying checking the price of bitcoin is bad but the intention used in checking the price is what I'm concerned about. What if you check the price in the morning and it has dip making your capital reduced by almost 30%  it may end up making you to be sad the whole day which is not good and most time it leads to High blood pressure.

It's a psychological thing, if such things affect you so much, then you're not in the right place. Because every smart person who trades in this market understands that the price can not rise every day , so he does not care so much when he finds a fall in prices as he gets up.

And I like to look at CoinMarketCap every morning. If the price of crypto currency rises, I am glad if it falls, I think: it means that tomorrow it will jump! The market can't always be in the same trend, because it's the financial market!

[rosemary4u]

Personally I don't like checking the price of bitcoin on a daily basis, all that I do is to check at most every three days when am not actively involved in trading. The advice is great for hodlers, as you HODL, you don't really need to be checking the price that frequently as that might scare you looking at the recent state of the market.

[becklyn06]

The temptation to wakeup and have bitcoin price in ones mind is sort of inevitable especially with the volatile nature of the current bearish market but its just safe to get distracted with other things and only look up current price if you must. I read recently that bulls may take as long as mid 2019 to have their run.

[actueal]

LOL not only do I check the price of Bitcoin first thing in the morning, I also check the 1 day, 5 day, 1 month, 3 months, 1 year, 3 years, 5 years, max time charts; as if something will change in the past 

It's a superstition more than an addiction.

[DarkBullet]

This is so me! Haha! When I wake up in the morning, I immediately open my mobile phone and connect to the internet to see the price of bitcoin and other altcoins. This maybe an addiction but I always see it helpful specially if you are tracking the growth movement or losses of your investment. You can't actually resist not looking on the price of bitcoin early in the morning because the pump happens surprisingly and you might miss that opportunity that happens rarely nowadays.

[tegarp90]

Many investors get addicted to checking the price of bitcoin first thing in the morning whether it be they're semi-holders or HODLERS (aiming to hodl for a very long time) . I read somewhere in respect to the stock market stating that, 'many investors day is determine by the price of his/her investment, leading to a great start if the price is up and bad start if price is down", because they checked the price of their investment first thing in the morning.
Although this information was based on the stock market, I know it also occurs in the Crypto market therefore I decided to give this advice here to benefit members of this forum, "avoid checking the price of bitcoin immediately you wake up in the morning, by so doing you're subconsciously programing your brain to response based on the price of bitcoin daily and these isn't good for your health. there's no gain in having wealth without health because health is wealth.

Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.


Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Edited: advise is for bitcoin not some shitcoin wanna be bitcoin, if you invest in any of those, please check them every 5mins for that big pump so you dump lol

bitcoin is worldwide and different side of the country has different timezone.
So, our morning is not the same i think.

[reverseflash]

If you are very nervous after seeing the price of Bitcoin, then most likely you do not need to practice cryptocurrency, otherwise your health will be very badly damaged. If you want to trade a crypto, or through a financial exchange, then train in yourself mental stability.

[lelylely]

They have their own strategies to benefit from Crypto. A trader of course will often check prices because actively checking prices will be more likely to make a profit. And if investment is certainly not too much to check prices, because to put profits they prefer for a certain period and wait for a better price increase.

[Nnedaddy1]

When I newly joined crypto,  I was used to checking the price of my holdings first thing in the morning. This singular act,  has a way of destabilizing my day.  So I stopped.
I resorted to checking prices during the day,  preferably at night.

I could say, I was not wired to withstand the price then because I was new to crypto.

[AlexKuprinov0402]

Many investors get addicted to checking the price of bitcoin first thing in the morning whether it be they're semi-holders or HODLERS (aiming to hodl for a very long time) . I read somewhere in respect to the stock market stating that, 'many investors day is determine by the price of his/her investment, leading to a great start if the price is up and bad start if price is down", because they checked the price of their investment first thing in the morning.
Although this information was based on the stock market, I know it also occurs in the Crypto market therefore I decided to give this advice here to benefit members of this forum, "avoid checking the price of bitcoin immediately you wake up in the morning, by so doing you're subconsciously programing your brain to response based on the price of bitcoin daily and these isn't good for your health. there's no gain in having wealth without health because health is wealth.

Question for viewers, if an investor is struggling with this addiction (checking the price of bitcoin daily), what steps do you suggest he uses to overcomes it.


Edited: this is an advise to investors not day traders, findings have shown that day traders don't live long and majority of them develop High blood pressure over time.

Edited: advise is for bitcoin not some shitcoin wanna be bitcoin, if you invest in any of those, please check them every 5mins for that big pump so you dump lol

It's simple, the main thing is not to dwell on bitcoin and not to go to bed with the idea of how I spent the day (profitable or not). If you have lived this day and got a storm of emotions, then you should think about them. In the morning, drink a Cup of coffee, enjoy communication with your loved ones and only after you look at this, such an important exchange rate.

[mlsbd]

I checking coinmarketcap couple of times in everyday, i'm not btc holder so no need to checking btc prices. I have 26 different alt coins that is why i checking every few hours which coin price growing. But i think all crypto holder checking at least 1 time when wake up in the morning.

[Treasurer]

LOL not only do I check the price of Bitcoin first thing in the morning, I also check the 1 day, 5 day, 1 month, 3 months, 1 year, 3 years, 5 years, max time charts; as if something will change in the past 

It's a superstition more than an addiction.

I also often check the state of the market a month, 2 months, 6 months, a year ago, in order to compare it with the current state. And I don't see an addiction, because this is my work, I try to do it responsibly.

[pavka]

Similarly, you can advise not to watch the news in the morning, because they tend to be negative and will affect a person's mood throughout the day. In fact, it does not matter how often and at what time of the day or night you check the price of cryptocurrency, if it grows - you are on the rise, if it falls - you begin to experience negative emotions. This is the usual everyday life of any investor.

[lamthanh3462342]

I think that seems to be a habit of investors. Daily Bitcoin testing may be good for the green market but not as good as the red market because of the psychological fear of losing money. This may very well lead to Fomo that I know of. Your advice is a good thing for investors and very noticeable.