Bitcoin's price, and our mental health.

[mk4]

Oh wow this topic is still getting replies? I thought it was dead.

I think it's better if it went up to $10,000. My brain will be at ease and relaxed, no mental health issues.

If your brain can't be at ease and relaxed at current prices and even if ever bitcoin crashes to sub $3000 levels, then there's a good chance that you might be too over-invested my man. You might want to spread out your risk into other assets a bit.

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[NavI_027]

It is funny that disruptions in the mental health of people are observed both during strong and unexpected drops in bitcoin, and at times when bitcoin is going to conquer new heights.

Yeah, some of us are getting ecstatic when btc is on its prime and more especially if there are good news about it like the halving. But I think most of us are now losing hope and starting to doubt whether this year's halving would be so spectacular or not. So if I were you guys, I will now burst my bubble and slowly accept the tendency of worse things to come. So that you will not get so much frustrated when that time comes. Bullish May is not yet assure so brace yourselves .

[hulla]

Well, actually my mental health is fine, as long as bitcoin is above $7000 haha

I think it's better if it went up to $10,000. My brain will be at ease and relaxed, no mental health issues.

I'll gonna be more patient on this since bitcoin halving is near and pumping is possible.
The current price of BTC now is $7027.18, let's wait for a month.

Almost all crypto investors and traders want the price of bitcoin market to surge more but with the current pandemic issue i believe it will be the month of halving before bitcoin can really make the price you mentioned and it hurts because those that predicted this year halving not to be much profitable we think they are right.

[online73]

Hello everybody. Yes, the topic is very relevant. Of course, I agree that psychologically a person should be very strong. Of course, when you lose a lot of money in such a highly volatile market without too much effort, for frequent people, in spite of any excuses, throw up the last money - this is really some kind of craziness. Yes, - it is necessary to warn people, it is necessary to inform everyone that this is just money - and life is priceless. Anyone needs to understand that when you come here you are likely to lose - at least in the next day you will definitely not become a millionaire. Cryptocurrency is a long-term investment and a highly manipulated asset. You can and should definitely buy cryptocurrency, but you must not play according to the rules of stockbrokers and cryptocurrency whales. Coming here, you need to understand and know exactly what exactly you want, it is advisable to even know how much exactly you want to earn exactly. And just be patient. In any case, there is no more valuable time spent with your parents with your family and with your children. There is money today - no tomorrow, but time is unlikely to increase in your life

[Zionatin]

Well, actually my mental health is fine, as long as bitcoin is above $7000 haha

I think it's better if it went up to $10,000. My brain will be at ease and relaxed, no mental health issues.

I'll gonna be more patient on this since bitcoin halving is near and pumping is possible.
The current price of BTC now is $7027.18, let's wait for a month.

The connection between Bitcoin's price and mental health is real lol. Whenever Bitcoin's price is going down those people who bought at a high price are getting serious migraines and headaches.
Every one of us is dreaming of a new ATH for Bitcoin but no one really knows when it will happen.

Yes, but you can't be like that. Otherwise, you will end up obsessing and literally watching the price charts. It is won't help it will make you feel worse and in this state, you make your worst decisions. Worrying about bitcoins price means you in it for the wrong reasons to begin with and you will send yourself to insanity. Panic buying and selling and anything are done on emotions like that usually leads to bad decisions and loss, which only serves to further the anxiety and mental health even more.

[conhela]

Oh wow this topic is still getting replies? I thought it was dead.

I think it's better if it went up to $10,000. My brain will be at ease and relaxed, no mental health issues.

If your brain can't be at ease and relaxed at current prices and even if ever bitcoin crashes to sub $3000 levels, then there's a good chance that you might be too over-invested my man. You might want to spread out your risk into other assets a bit.

Like which assets? I have about $2k I bought at ~$10k price mark, tbh I'm waiting for it to go back up, I can definitely live without them but I would really appreciate being able to recover that money heh

[slaman29]

You seldom can predict how suicidal you can be or how strong a mind you have. The problem with socalled investment activities and trading is that people approach it with a wrong attitude, thinking of fast profits and easy gains when it's hardly ever the case at all. Consider all of these money you can lose, or you'll find you're putting things you can't afford to lose and THEN you go suicidal.

All right. People start investing with the expectation of making money. They immediately have expectations that they will succeed.
A small part of people think that they will fail for the first time, so they usually take more money for deposit than they actually can lose.
After the loss, realizing that they made a mistake, they can resort to trying to correct the situation by making another deposit, and again it will be funds that they cannot afford to lose without frustration.

Like I said, wrong attitude, so wrong expectations. It's in the small print. And nowadays its even on the advertising of the broker. That they are more likely than not to fail. This is the most common: "76% Of CFD Traders Lose Money On Their Deals" you can google it.

Know this and know the odds are stacked against you.

Always. Deposit what you can afford to lose.

[farukahmed]

It's that time again, where bitcoin(and pretty much almost every other non-stablecoin cryptocurrencies) does a huge nosedive. This is just a reminder that whatever amount you've "lost" with the market  crash, in the end, it's just money. Money can be made back in the future through multiple various ways, whereas you have only one life to live. It's not the end.

Whether you're invested in bitcoin, whatever altcoin, or even the stock markets, if you've been having suicidal thoughts, please think twice and try talking to a professional.

For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines

Times like today are so reminiscent of the last market crash whereas suicide-related posts and suicide hotlines are popping out on multiple crypto-related subreddits. But yea, this might be cheesy as hell, and while a lot of people here have been here since like forever(hence are probably immune to the effects of these crashes at this point), but if this saves one person it's well worth it.

Happy trading and investing!

I think the price of this bitcoin has skyrocketed and after a lot of pressure on our mentality we can no longer make this camera decision because the price of bitcoin has dropped so much a few months ago and now crypto holders are so scared that we investors are afraid to keep this bitcoin because when prices go up a lot, we think it will go up a lot, but we can't do it again our profits go down a lot when it hits, so these i things bitcoin price affect us so in the current world market we need to see how much impact these markets have on bitcoin and above the price. If we have to do bitcoin then our mentality will be much less blockchain the transactions are dependent on the blockchain.

[bitbunnny]

People, just relax, that is my advice.
First when I first started with Bitcoin, about seven years ago, I was focused very much on price. But with time and experience, when I learned how Bitcoin is functioning my attitude changed.
Now I'm not watching the price all the tin, unles I'm trading, I'm aware of volatility and fact that Bitcoin price moves both ways. So, it will not fall but neither rise all the time. Learn to adjust, to be flexible with your portfolio.and everything will be.much easier for you.

[$crypto$]

I think it's better if it went up to $10,000. My brain will be at ease and relaxed, no mental health issues.

I'll gonna be more patient on this since bitcoin halving is near and pumping is possible.
The current price of BTC now is $7027.18, let's wait for a month.

Almost all crypto investors and traders want the price of bitcoin market to surge more but with the current pandemic issue i believe it will be the month of halving before bitcoin can really make the price you mentioned and it hurts because those that predicted this year halving not to be much profitable we think they are right.

Maybe this is a pandemic effect so it's a little slow for the current surge of bitcoin. In fact, I often see prices every day hoping that a big pump at this time is difficult even though it's been awaited by many traders and investors, but still no one can predict now or when halving happened.
The countdown from now feels very difficult to touch 10k. hmm maybe history will not be repeated again.

[Gibreil]

It's that time again, where bitcoin(and pretty much almost every other non-stablecoin cryptocurrencies) does a huge nosedive. This is just a reminder that whatever amount you've "lost" with the market  crash, in the end, it's just money. Money can be made back in the future through multiple various ways, whereas you have only one life to live. It's not the end.

Whether you're invested in bitcoin, whatever altcoin, or even the stock markets, if you've been having suicidal thoughts, please think twice and try talking to a professional.

For the suicide hotline for the country you're in, please refer to this list: https://en.wikipedia.org/wiki/List_of_suicide_crisis_lines

Times like today are so reminiscent of the last market crash whereas suicide-related posts and suicide hotlines are popping out on multiple crypto-related subreddits. But yea, this might be cheesy as hell, and while a lot of people here have been here since like forever(hence are probably immune to the effects of these crashes at this point), but if this saves one person it's well worth it.

Happy trading and investing!

This is a pleasing and contenting write up. It is the truth. That we lost in long term trade today does not mean the market is nothing to rise again. We should be hopeful and full of positive thoughts now. Like me, I still believe in bitcoin halving. I still believe that this year bitcoin will still be over $10,000 again. Because investors will invest because of some certain reasons. All in my post in the link below.

https://bitcointalk.org/index.php?topic=5232054.msg54008321#msg54008321

I wrote this above thread some days ago, to let people still know that bitcoin and strong altcoins will still rise this year and next year. Do not let us underestimate the anticipatory bitcoin halving effect of whales manipulations and retail investors capital crypto investments.

People are linking the recent fall to corona virus which I believe can directly and indirectly be the cause of the recent drop. But, as bitcoin droppd 6% in January after the spread in China, bitcoin later increase to above $10,500.
So, I do not think corona virus is the only cause of crypto fall and I belive the recent fall can be a preparation to the next bull run in which whales are manipulating and price drop for other investors to sell bitcoin.

Well, the stocks and virtual currency becomes the center right now even there is COVID-19 which is said to be a reason why most stocks and bitcoin will fall down and stuck up. This end of April and starting of May will be the preparation for the bitcoin bullish due to halving also.

I also read your speculation about bitcoin and I was amazed how you conclude it at all. For me, we dont need to worry about our lose, because bitcoin will rise and keep rise everytime it have halving.

[2030hodl]

It's easy for price to affect mood if an individual has a position which is too large for them to handle.

What is your bitcoin worth as a % of your total portfolio?

Are you valuing that at today's date, or acquisition price?

I recommend investing more time in self study, reading, learning and general research to increase conviction, or to reduce position in BTC.

Hold a position that you are comfortable with. Keeping a cash balance is important.

If you don't make it to the future with a healthy mind and body, it doesn't matter what the price will be.

hold strong

[btctaipei]

For those of us got in the very beginning I don't see how we are affected by the Bitcoin's move.

If btc is over $1, I don't think we have a problem.  To stay safu we've moved our position to physical Gold, silver, and ammo a long time ago.  Debt and Exchange (that allows manipulation) is the source of your mental hygiene issues.

[hahay]

Agree, everything is only about money because basically money can still be obtained at other opportunities in various ways, when you lose in anything that involves money in it, at least you also have to realize if you have to have a strong mentality to be able to face any risk with quiet. So in this point I think not only mentality because on the one hand, investors must also have a good mindset going forward, because when you get the value of your investment it crashes and at the same time you also have a good mindset, at least you will not panic when facing price crashes while other investors panic because they don't have great planning.

[suvo05]

For some people, it's just money, but for some others, they put everything into the trading( similar situation happens in gambling also). Sometimes they put whatever he left and there are some people, who borrow money from others. They set up all future plan on the basis of his future profit only and when that goes opposite to his plans he feels blank in the head, his bad emotions come into play and he does the things only based to his bad emotions only . Such suicidal mentality rise at that time.
So before we invest anywhere we need to make plans on loss also, and we should not put everything on the investment.

[TitanGEL]

For some people, it's just money, but for some others, they put everything into the trading( similar situation happens in gambling also). Sometimes they put whatever he left and there are some people, who borrow money from others. They set up all future plan on the basis of his future profit only and when that goes opposite to his plans he feels blank in the head, his bad emotions come into play and he does the things only based to his bad emotions only . Such suicidal mentality rise at that time.
So before we invest anywhere we need to make plans on loss also, and we should not put everything on the investment.

Having a mindset that we are prepared to lose is good in order for us to handle the mental stress if we experienced to lose huge amount of money. We should be aware that our mental health is a great factor especially when it comes to investing and trading. That is the reason why keep investing in my trading psychology for me to understand my emotion very well, there is a saying that if you want to fully able to understand yourself; become a trader because analysis is not only the one that we are going to use even our emotions are important.

[Skieleton]

The market crash is a big blow to a lot of people. So many people have lost huge sums of money. But killing yourself or committing suicide during this time is not an option. Just remember that any amount lost can be made in the future, but we only live once.

They lost because they lack patience ... Also, several times I did wrong, I bought and sold wrong ... As you watch the market even when the price falls after some time and so it returns to a good price. All you have to do is wait, unless you bought a BTC for 20k $, then it's a problem...

[princeyeboah]

Thanks to OP for such an advice. One thing investors especially newbies should take into consideration is that Bitcoin and cryptocurrency in general is not a get-rich-quick scheme. The market is formed with periods of price ups and downs and it takes only the patient investor to sail through to a particular set price. It is always to set a price or target for ones investment and never be too greedy.
Above all, never invest what you cannot afford to lose - this applies not only to Bitcoin but all investments.

[online73]

In general, the topic of price and psychological health is relevant in any market. Now is a difficult time - any fluctuations in the cryptocurrency market, one way or another, leave a mark. They say that nerve cells do not recover, - I believe that the most nervous in general should be away from the cryptocurrency market. Only in a stable psychological state can one use the fluctuation in the price of bitcoin in a balanced manner. I noticed one pattern - in addition to a clear plan and its strict compliance, regular rest is necessary. A few years ago, after the next drain of the deposit, I completely tried for a week not to inquire about the price of bitcoin, which was morally stronger, I made a deposit again, and for the first few days there were only positive transactions, then again, greed, fatigue and loss of the deposit. The conclusion is very simple - the price today, tomorrow, the day after tomorrow can be anywhere, and so that your psychological state does not finally break about the price that will play against your deposit, rest more often. Do not forget that in addition to the price of bitcoin, there is still a lot of interesting things.

[lyka]

Of course, the probability of suddenly getting rich, catching luck, participating in trade, or investing in a project becomes less than it was 5 years ago or more. Nevertheless, the cryptocurrency market is still a chance for those who do not have sufficient resources, and even knowledge. When investing in cryptocurrencies, a lot of things are decided by the general outlook of a person, his philosophical and practical outlook and intuition. In this case, even an amateur in trade, may be the winner by correctly identifying a promising project. Bitcoin in this sense, gives less chances, it is becoming more academic in terms of trade and conservative in terms of technical capabilities. Mental problems, in my opinion, are the lot of professionals and overwork. Here I agree with one of the speakers. Adventurers, as a rule, easily accept both victories and defeats.