Bitcoin can play tricks on your mind

[xSkylarx]

After this latest run I thought about taking profit to get my original stake back, which is about 25% of the current value.

But then I start thinking "No, that 25% could eventually be worth many times more in a few years...".

... but then I think "What if bitcoin crashes to zero, isn't it best to take my original stake out now?"

... and then I think "no, don't bother, if it does crash to zero, it won't happen in a flash, and you could still take your original stake out on the way down."

Sheesh! Apart from Bitcoin, I've always bought risky shares, and I've gambled on sports... but I've never suffered these sort of mind games as you do with Bitcoin, and I imagine the only similar thing is penny stocks.

Does anyone else play these scenarios out in their head?

Greed is always present in our human nature so it's normal to think like this. We don't know what will happen in the future so we should secure what is certain at the present. What I do when I sold too early is I just think that what if it goes the other way around, how long will I hodl until I can recover that loss. We should always remember to grab the opportunity to take profit. Big or small, profit is always a profit.

[ninabobo]

I think doubts are consistently present in individuals' brains yet eventually, it is still you who can choose if you need your doubts to win or you need to procure a benefit and not doubting in bitcoin regardless of what occurs later on. Also, the price of Bitcoin is unstable and hard to anticipate, so there should be a dread of the Bitcoin price falling.

[MyCryptoDomains]

It can definitely play with you mind. Like when you feel sad when I explodes because you don't have enough, and when you also feel sad seeing it crash because what you have diminishes

[serjent05]

sometimes we ourselves are scenarios in our heads if this and that happens. you should indeed reduce it, the more we think about it, the impact will increase anxiety in us. Calmness is key.

For some people, its inevitable to stay calm when there's  a simple price dumb. Some people unknowingly slump into anxiety even when they don't want to cause of the price.
The constant speculation of prices can also make one panic especially when  they are not used to it.

This is because these people invest not only their extra money but rather their whole life savings. Others even sell their assets to make their investment even bigger.  If they only invest their extra money, they would not mind if the price crash or not since it won't affect them that much negatively.

It can definitely play with you mind. Like when you feel sad when I explodes because you don't have enough, and when you also feel sad seeing it crash because what you have diminishes

This is the pure example of greediness, they just can't get enough nor get satisfied with what they have gained.  At the end of the day, it isn't Bitcoin that is playing tricks in our minds.  It is our own desire and greed that triggers all these dilemmas and conflicts.

[MyCryptoDomains]

This is the pure example of greediness, they just can't get enough nor get satisfied with what they have gained.  At the end of the day, it isn't Bitcoin that is playing tricks in our minds.  It is our own desire and greed that triggers all these dilemmas and conflicts.

True. You can feel that way about any asset. The solution is to get busy and have some dopamine that's dependent not on market moves but your own work.

[hahay]

Of course such thoughts will cross or even always exist because that means we are among the people who are always considering what will happen, I don't think it will be bad for our investment because if there is no such consideration or thought how can we take profit. The next thing that will be done depends on the experience and knowledge we have, because selling it immediately or even keeping it for longer I'm sure it will still be profitable, right.

[BChydro]

Apart from Bitcoin, I've always bought risky shares, and I've gambled on sports... but I've never suffered these sort of mind games as you do with Bitcoin, and I imagine the only similar thing is penny stocks.

When it comes to penny stocks you are aware of the risk and if there is a pump you make a profit and majority of the time your investment might not pump and you end up in a loss but in the case of bitcoin it is not just manipulation like the penny stock market, the reason why the price of bitcoin started rising is because majority of the investment comes from institutional fund houses and with a limited supply you should to aware that the price would rally.

[tyz]

Does anyone else play these scenarios out in their head?

No, because it is very unlikely that Bitcoin will crash to zero, or even crash significantly so that it isn't worth much anymore. The only scenario would be if there would be a glaring security flaw in the Bitcoin protocol. And after Bitcoin has been around for over 12 years now, this flaw would have been found long ago if it would exist.

[el kaka22]

It happens to everyone, but I have been able to get over this with the kind of love I have for the Bitcoin Technology; I like waking up everyday and looking at the digits in my wallets, though sometimes when it’s going low I might not feel much happy, but I still take the blow and continue and never worry about.

But I don’t see anything wrong with you taking your original investment and leaving the rest. If you want you can still continue with the whole money stored in your wallet. There are times I take my original money that I invested and also collect fifty percent of my profit lol just do whatever you think is right for you to do, and moreover I believe there are other things you can do with money.

[Jordi129]

If you are weak then and emotionally then definitely you might push the sell button the moment you see your profits going down. But your scenario though of bitcoin going to 0 is slim, so you have nothing to worry about.
When you hear people say that bitcoin investment is not for the soft-hearted; they were not kidding. Just for your mental stability, have a long term goal for it and be ready to ignore all the noise when prices are dumping.

[Kelvinid]

That "what if" question makes our minds doubtful. Some people use to do that when making decisions but sometimes it brought us to the wrong one, yeah, I did some, and might everyone in here.

Having in this market no one is right or wrong. Some say you are wrong because you sell your Bitcoin at $20k while it takes a huge pump after it. But "what if" the market dumps after he sold his Bitcoin, they are absolutely right with his decision.

You are taking back your capital, that is your decision. As did it before and it is fine after all. There is still some funds left and we can still make money from it while securing our capital.

[nitrobetting]

That's why you have to be mentally prepared when it comes to owning BTC. The thought of "too good to be true" will always kick in given the surges in price.

For sanity's sake, I somehow refuse to engage with people say BTC will crash. Most likely they wouldn't have any proof to support an argument either.

[Innerpumper]

That's why we have to be confident in ourselves. It will help us it will not be easy to panic if someone says "buy this coin" when they do it for themselves, when we come in we will cry. Never once easily believe with anyone other than ourselves, because when we lose from our analysis there we can buy it even cheaper.

[Argoo]

Regular investors and traders are already used to it. Taking out your stake is what you should do and leave the rest to be used for holding and trading purposes. You will have a free open mind to do other things without any thought of Capital loss.

It will be right. Considering that the price of bitcoin has risen almost three times higher than its previous price record, it would be logical to sell some of the bitcoins to cover your previous expenses and have the capital to buy bitcoin in case of a sharp price drop. After that, we will no longer suffer direct material losses in any negative turn of events, and we can only talk about lost profits.

[milani]

After this latest run I thought about taking profit to get my original stake back, which is about 25% of the current value.

But then I start thinking "No, that 25% could eventually be worth many times more in a few years...".

... but then I think "What if bitcoin crashes to zero, isn't it best to take my original stake out now?"

... and then I think "no, don't bother, if it does crash to zero, it won't happen in a flash, and you could still take your original stake out on the way down."

Sheesh! Apart from Bitcoin, I've always bought risky shares, and I've gambled on sports... but I've never suffered these sort of mind games as you do with Bitcoin, and I imagine the only similar thing is penny stocks.

Does anyone else play these scenarios out in their head?

.

Of course lots of thoughts like that appear in lots of holders' heads from time to time. And it is normal because it is your assets and your opportunities. It would be more strange in case you would not have thoughts of such kind. The other thing is to think twice before making any decision and take your finger on the pulse in order to have the chance to react at once you will see changes that you are expecting for. But in my opinion Bitcoin will not be a zero in price. And even on the decrease you will have such chance and period of time  to react.

[Fatunad]

Regular investors and traders are already used to it. Taking out your stake is what you should do and leave the rest to be used for holding and trading purposes. You will have a free open mind to do other things without any thought of Capital loss.

It will be right. Considering that the price of bitcoin has risen almost three times higher than its previous price record, it would be logical to sell some of the bitcoins to cover your previous expenses and have the capital to buy bitcoin in case of a sharp price drop. After that, we will no longer suffer direct material losses in any negative turn of events, and we can only talk about lost profits.

Secure everything while you still can and i do really agree on this one where you should really be selling out if you do seem fit to do so.Price movements could really
trick you up and can really affect your decision making skills but if you do have set a specific fixed goal then you would really be having those kind of sell outs
no matter what would be the market condition would be.It all matters with experience since this one will really be important, once you are aware on how things
do works or moves on this market then you can really make out some proper plans and possible actions to make.

[Ewox]

I have played a lot of scenarios in my head that’s why I decided to take out the value I invested in fiat money conversion to make me feel contented or at least keep my head sane so I wouldn’t think of a lot of “what if’s” in my head. It’s also a matter of self discipline and decide on what to do with your cryptocurrencies since you’re the one controlling it, whether you feel like hodling it or take out the amount you have invested in them. And also keep your investment safe, that’s the most basic and important thing to do too with your cryptocurrencies.

[acener]

After this latest run I thought about taking profit to get my original stake back, which is about 25% of the current value.

But then I start thinking "No, that 25% could eventually be worth many times more in a few years...".

... but then I think "What if bitcoin crashes to zero, isn't it best to take my original stake out now?"

... and then I think "no, don't bother, if it does crash to zero, it won't happen in a flash, and you could still take your original stake out on the way down."

Sheesh! Apart from Bitcoin, I've always bought risky shares, and I've gambled on sports... but I've never suffered these sort of mind games as you do with Bitcoin, and I imagine the only similar thing is penny stocks.

Does anyone else play these scenarios out in their head?

There are plenty of things that could happen and plenty of what if's for everyone.
I had been there I have so many what if's but we should face what we done and take responsibility of it.
Don't live in regret and make the best out of it there would always be what if's but we should just continue to move forward to whatever choice we pick.

[Kittygalore]

Bitcoin isn't playing tricks on your mind, it is you that is playing those tricks on your own mind. That is what you call anxiety or paranoia at worst, the only way to solve that is to take a deep breath and not think about anything related to what you are doing, try not to make up scenarios in your mind about this kind of thing. In my opinion, in this kind of situation you are your own worst enemy. Bitcoin is not a sentient object or such, you are which means that those thoughts are just you blaming bitcoin, and you wouldn't really be anxious about it when you know more about bitcoin and you trust that it will grow in long term.

[yazher]

Bitcoin isn't playing tricks on your mind, it is you that is playing those tricks on your own mind. That is what you call anxiety or paranoia at worst, the only way to solve that is to take a deep breath and not think about anything related to what you are doing, try not to make up scenarios in your mind about this kind of thing. In my opinion, in this kind of situation you are your own worst enemy. Bitcoin is not a sentient object or such, you are which means that those thoughts are just you blaming bitcoin, and you wouldn't really be anxious about it when you know more about bitcoin and you trust that it will grow in long term.

This only happens when you put all your money into BTC just like what I have seen in some social media where a man sold his house to buy bitcoin. This is not a good idea since its volatility can be brutal sometimes when your money has been put all into one basket no matter how you think of it. That's why they kept telling those people who have been asking how to invest in bitcoin, that the first thing they need to consider investing only what they can afford to lose. Because in that way, they think about it less than they think when they put all their money at once.