Newbies: Don't panic and learn to hold

[Apocollapse]

I think this topic is worth to remind again for many newbies who panic about the current situation where Bitcoin price $30K strong resistance now drop to $24K currently traded. There are many so called expert who always predict Bitcoin price will go to x, the bottom is x etc, also one of them were offer to give his money to everyone if his prediction gone wrong, this strategy is to convince newbies to believe his words.

Take look on these so called expert who predict Bitcoin price:
1. The ‘Ultimate’ Bottom?—Major Fund Manager Reveals Shock Bitcoin Price Prediction And Stark Crypto Warning As Ethereum, BNB, XRP, Solana, Cardano And Avalanche Plummet
2. Renowned analyst who predicted Bitcoin price top at $69,000, now claims the bottom is at $24,000
3. Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level
4. Crypto is dead. Long live crypto
5. Long-Time Bitcoin Bear Offers $1,000 To Every Retweeter If His Prediction Of BTC Hitting $10K In 2022 Goes Wrong

Don't believe of those so called expert predictions since there's no guarantee their words will come true, there's no crystal ball in this world. If they're a time travel who know the correct Bitcoin price in the future, they would shut up and just bought the bottom price, so they can sell at the peak since they're already know it. But, why does they need to told everyone the Bitcoin price will crash to x etc? Because they want to gain popularity if their words are come true. They just randomly guessing the price in hoping they're correct.


Did I scared after looking this chart? No, because if you look at the history, you will see Bitcoin have been survive 3 times about the dump/crash.


The first is on 2017 and 2018, where the peak is $19K and the bottom is $3K (84% change)
The second is on 2019 and 2020, where the peak is $11K and the bottom is $5K (54% change)
The third is on 2021, where the peak is $60K and the bottom is $30K (50% change)

Now we're previously at the peak $69K and currently the bottom is $24K (65% change) is still not beat the 2017 and 2018 history where the change is 84%, why would we panic and not trust Bitcoin anymore? Think about it.

If you still keep thinking Bitcoin will dead, do you forget all the adoption from any institutional, government, and foremost the countries who accept it as a legal tender. Not to mention Bitcoin already improve a lot of the development e.g. Lightning network to solve the scalability issues, using for friendly energy for mining, hash rate & difficulty increase to prevent from 51% attack etc. Bitcoin right now is more scarcer since it's already mined 19Million Bitcoin, only 2Million left. We're already close Bitcoin will be accepted in entire countries due to it's value and become a currency since the price will be more steady. This is the reason why I AM HODLING.

Don't predict the bottom, just do Dollar Cost Averaging or Averaging down to accumulate more Bitcoin. We're as a Bitcoin enthusiast are looking for long term, not short term or instant profit by pump & dump of shitcoins. Also there's nothing wrong to diversify your investment, but make sure you're diversify to other assets/commodities e.g. gold, silver, bonds, real estate etc, never diversify to shitcoins since it's worst than Bitcoin.

[Upgrade00]

My idea is a Bitcoin holder does not need to panic if they had an investment plan when getting in.

What pushes one to panic sell or cut their losses is when they invested more that they can afford to lose and with the current drop they saw their savings getting wiped out on the charts.
Buying smartly means that one invests spare money and at a controlled period of time; if the market dips, it does not affect you much as you have enough to foot your daily expenses. You basically sell when you want.

Those who fomo in at the top and end up selling off 4 months later already made mistakes from the beginning and no doubt would still have to sell as they need the money.

[_act_]

People should not panic and sell during this bear time is my advice, we can see institutions like Microstrategy, countries like El Salvador, they are not all selling, they have the long term mind set and it will favour time in the next bull runs.

My idea is a Bitcoin holder does not need to panic if they had an investment plan when getting in.

I will say so too because it is true, bitcoin holders do not have to panic, the market can fall but later it will rise.

What pushes one to panic sell or cut their losses is when they invested more that they can afford to lose and with the current drop they saw their savings getting wiped out on the charts.

That is trading and anyone that is gambling with altcoins, or if someone is ignorant of investment strategy before investing in bitcoin. Bitcoin investors should know that they will recover their losses but it can take one, two or more years.

[Yamifoud]

This call is not just for newbies but this is for everybody. Maybe for old-timers, this is not hard but still, many of them have not appreciated the word HOLD, it is somehow they got influenced by their negativity. In fact, looking back on the surge of panic selling in the last bear season, it can't be possible if we still don't value this thing (hold) this time.

I think this was the time to open up our mind and think about what we can help the market as panic selling never contribute positively but rather seeing negative results. We don't just ask but to encourage everyone to become strong and let this bear season pass worrying about nothing.

[Coyster]

Don't believe of those so called expert predictions since there's no guarantee their words will come true...

Don't even believe there are "experts", when one believes in the concept of expertise in the network, that is when they can even consider following whatever advice their "experts" gives to them; but if you do not believe in that concept, and you understand that every resource is available for you to do your research into the history of Bitcoin, and see the pattern for yourself, then you will most likely make the correct decision more often than not. I am pretty sure users who believe in Bitcoin are not worried by the dump at all. Just invest what you can afford to lose and remember Bitcoin is a long term investment as you hodl.

[cryptoaddictchie]

I think this was the time to open up our mind and think about what we can help the market as panic selling never contribute positively but rather seeing negative results. We don't just ask but to encourage everyone to become strong and let this bear season pass worrying about nothing.

People cant ease their mind with the market selling. Some of my friends too are instead of staying strong are cutting losses. This is a heavy heart to hear at selling at a loss. But we cant blame them. We can only encourage them to hold for their money that they dont need. People tend to sell cause of fear that they will lose it all, yeah its possible unless you sold it right?

[Gosgosking]

This is a hard time expecially for beginners who just bought bitcoin  in the bearish season,  some might have not experience a season like this but they need to keep calm and patient.  If the bearish market can be like this that means the bullish market exists and it is real. It is just a matter of patience and time.

[Apocollapse]

Buying smartly means that one invests spare money and at a controlled period of time; if the market dips, it does not affect you much as you have enough to foot your daily expenses. You basically sell when you want.

Yeah, many people use their main source to invest in Bitcoin, they hope they will earn after few months, but few months isn't enough to enjoy the return of Bitcoin. I'd say at least they need to wait around 4 years at least, the longer you hold the better your return will be.

This call is not just for newbies but this is for everybody. Maybe for old-timers, this is not hard but still, many of them have not appreciated the word HOLD, it is somehow they got influenced by their negativity.

Well I think if old Bitcoin enthusiast still didn't understand the purpose of hold, I'd say he didn't learn anything in Bitcoin space. Even I didn't directly face the 2017 and 2018 Bitcoin history, I can know how it feel when the price drop drastically. But right now we're face the similar season and anyone should know Bitcoin will recover sooner or later.

[traderethereum]

This is a hard time expecially for beginners who just bought bitcoin  in the bearish season,  some might have not experience a season like this but they need to keep calm and patient.  If the bearish market can be like this that means the bullish market exists and it is real. It is just a matter of patience and time.

If they buy with the money they can afford and the money is not used for anything else, they don't have to feel sad because they can still keep their bitcoins and buy more.
The bearish season has finally hit $22k and there's no clue where the price will go and we can only guess.
So if we can be patient and calm while the crypto market is still volatile, we can see an opportunity to buy bitcoin at a low price.
But if we panic at seeing the price drop drastically, we won't be able to use this moment to our benefit.

[ObscurePen]

So just hold till what?... I think safe investing should have a liquidation point. Unless you are really devoted to that stock or cryptocurrency. It makes no sense to hold until price hits the bottom. So the real question we should be asking is at what point do I want to save the investment that I made which is now gone bad?

NB: I'm not saying Bitcoin is going to hit bottom. My post is just really just in relation to general trading/investing strategy, not specifically BTC.

[LegendaryK]

So just hold till what?... I think safe investing should have a liquidation point. Unless you are really devoted to that stock or cryptocurrency. It makes no sense to hold until price hits the bottom. So the real question we should be asking is at what point do I want to save the investment that I made which is now gone bad?

That is an excellent thought process, and one every investor should be thinking,
at what point do you cut your losses or at what point do you take your profit and re-balance your portfolio to shield yourself from longer market drops.

The market crash has just really begun, smart money is moving into cash and will probably wait a year or more before even thinking of reentry
because this downturn could last for years due to the food & energy inflation.

Only Gamblers hold until they lose it all.
That is the one screaming hodl, no matter if the price is at an ATH or ATL.
While they cry 1 btc=1btc, well 1 turd=1 turd , and no one give a shit.   

 

[LogitechMouse]

So just hold till what?... I think safe investing should have a liquidation point. Unless you are really devoted to that stock or cryptocurrency. It makes no sense to hold until price hits the bottom.

Every Bitcoin holder has a selling target like me.
I'm holding Bitcoin and some stocks for a long term but I also have plans into when I will sell all of them. There are some factors that affects my selling strategy like the time frame and the target price. I hope that holders also have a strategy where they will sell it when it happens and don't just hold on for dear life.

Right now TBH, you say that there is no sense to hold until it hits the bottom but there are some who are doing it probably because they don't want to sell at a loss so they will just prefer to hold it. We don't know where the bottom is so better to just hold and wait for the bull market to come which will come maybe in 1-2 years. 4-year cycle .

So the real question we should be asking is at what point do I want to save the investment that I made which is now gone bad?

That's where the decision making of one's investor comes.
What will happen if my investment goes bad? Will I still hold it? Will I accumulate more? Will I make a cut loss and invest when it goes down even lower? US Stock market are in a bear market territory already. S&P500, Nasdaq and DJI are in a bear market zone already and these have correlation with Bitcoin so the bear market has started. I just hope that investors decided already into what they are doing during this bear market.

[Upgrade00]

So just hold till what?... I think safe investing should have a liquidation point. Unless you are really devoted to that stock or cryptocurrency. It makes no sense to hold until price hits the bottom. So the real question we should be asking is at what point do I want to save the investment that I made which is now gone bad?

How many times has the price of Bitcoin reached the perceived bottom and how many more times has it rebounded and made new ATHs?

If you've done your due diligence and understand how a certain asset works in different markets, you would understand how it acts after price dumps and pumps. With this, your liquidation point would not be an effect of dips in value, where you will be forced to cut your losses.

I've gone through different Bitcoin cycles and I can predict that Bitcoin would reach another ATH within the next couple of years (3-4 if I'm forced to give a number), especially when you consider that we are more than half way to the next Bitcoin halving.
With this knowledge, I can safely hodl Bitcoin beven though the market tanks and even buy more.Buyer's remorse can definitely force investors to panic sell, particularly if they bought at the top and would need lots of price increase for them to break even. Rhat is why how you buy is very important in determining if you can hodl.

[buwaytress]

Not just newbies? In my experience, it's the semi-long to medium-term holders who're the most prone to panic heh. I can point to 2018 and 2019 to my own experiences. People who held for 2 cycles or more, thinking 20k was it, and "they should have exited at 10k".

Sure, we're still above (barely) 2017 ATH so technically anyone who bought before 2020 is still in profit but I can understand why people feel like they wasted opportunities and may need to wait another 5 years or so, so that's where the panic comes from.

Of course newbies panicking too. Newbies, to me, are those all quoted in the article list. Overnight experts created by the 2020/21 bull.

They're offloading their fear and some of the vets will be lapping it up...

[noorman0]

I took a lesson from the two sell everything my own in the 2018 and 2020 bear markets where it was (in my opinion) the worst drop and I think touching ATH a second time is impossible. And this time it won't happen three times that I can only see the price of btc going up while I don't have even 1 sat in hand.
I agree with @upgrade00's opinion, "sell when you want". Bitcoin didn't exceed $21k from $68k overnight, you should have plenty of time to think about if this scenario were to happen and prepare things so that you don't sell your bitcoins.

[Iadegbola34]

If the past history of bitcoin is anything to go by, then it's only wise to hodl for the long term while investing with money you can afford to lose that won't affect your daily expenses. DCA-ing your investment is a nice way to get the best out of this bear market by buying bitcoin bit-by-bit at different strategic price.

[Cryptodebjoe]

We're still in a good place compared to 2020 ATH which was in November 20th 2020... All newbies are to hoddle up because the future will be bright to those that hang on

[Despairo]

We're still in a good place compared to 2020 ATH which was in November 20th 2020... All newbies are to hoddle up because the future will be bright to those that hang on

Correct

Even you're bought at the peak on 2017, you're still earn less profit even though the price only difference around $3K only. I've remembered how the crude oil price crash, the price went negative, that's mean if you want to buy an oil, you're not paying anything but you get both of oil and cash lol. It do make a panic, but I think governments and journalists are more often spread bad news about Bitcoin rather than their commodities.

[xSkylarx]

If you can still live without touching your crypto assets during these tough times, then all you need to do is just hold them strong and avoid getting the negative sentiment of the market get through your emotion. These market cycles are normal and is the perfect time to earn some huge gains for the next bull run if you can still accumulate bitcoin and altcoins. Just don't go all-in if you plan to buy some cryptos now as the market sentiment is not clear yet. Many are speculating that we could go lower than $20k at this point.

[killerfrost]

Big loss investments happen with altcoins, and from what I've seen, newcomers pay less attention to BTC. However, the decline that caused the general situation to deteriorate and panic over losses is not too uncommon in the investment-related markets. Honestly, if you have a good plan and are comfortable with the investment, there should be no problem. However, this market is not for the win-win crowd. I see only a small percentage of people who are satisfied. with existing and ongoing opportunities. However, in my opinion, the lack of control over our ability to engage in something new is the main cause of the volatility. We can talk about the experience, but greed is always on our minds. We and the ways to be happy in this field are also many, but not suitable for everyone.
And over time, every time BTC recovers or rises to a new stage, we will always see news around it. Then it's time for us to be more awake to look back on what we've done. experience. I myself have some skills in this field and BTC is always something that I want to own the most. Over time, the safety as well as the risk from it always gives me peace of mind compared to the rest, but the way to talk about new entrants, we can hope that they will learn more until they are comfortable with what has been going on.