Newbies: Don't panic and learn to hold

[adzino]

-snip-
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.

You don't even need to do dollar cost averaging. Just invest as much as you can afford to lose and sit back and relax. When the price goes up, if you feel like you need to take the profits, sell and enjoy your gains. If the price keeps on falling and you don't need the money, just hold and wait for the market to recover. You have some extra cash lying around that you don't need, then invest those money during those dips to maximize your profit. Even when the price goes up, you can invest those money. You don't need to wait for the dip. Better to invest than to keep those money in bank which eventually loses value in the long run.

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[smartaction]

Bitcoin holders Doesn't need panic. Btc will pump again and make new ATHs. Like, in 2017 Bitcoin made a new ATH 1 BTC $20k. after that btc dropped 20k to $3200. Even then, the price of Bitcoin did not stop. BTC again made new ATHs $68.7k.  so, I don't think that bitcoin holders should ever panic.

[lienfaye]

Bitcoin holders Doesn't need panic. Btc will pump again and make new ATHs. Like, in 2017 Bitcoin made a new ATH 1 BTC $20k. after that btc dropped 20k to $3200. Even then, the price of Bitcoin did not stop. BTC again made new ATHs $68.7k.  so, I don't think that bitcoin holders should ever panic.

True. Even the price decreased drastically, it doesnt mean its the end for Bitcoin because same scenario also happened before. But the price managed to move upward again and even break the past recorded ATH. Thus its up to investors if they will panic this time or ignore the bearish season while continue holding. The recovery might take time, there's no timeframe but eventually it will happen in time, just be positive and be patient.

[Rockstarguy]

The reason behind this panic is they feel bitcoin is get rich quick scheme and invest their savings into it in hope of getting fast profits but on the contrary when it start falling they can't analyse the market that it's normal and it will grow in the long and panic sell off during these times.So they eventually loose at this time but main is to control your emotions and invest what you afford to loose in the market.

Most of the people having challenge with the dip are the middle class people who never expected the market to be like this,  expecting to make profits in a short time. The rich ones are still buying Bitcoin even in this present dip because they understand it will definitely yield profits. People who used what they can't afford to invest are having challenge to have patience to wait for bull.

[Reatim]

The Images does not display that good better to edit your Imgur mate.


But about the Newbies getting panicking ? but it does not stand for them only because there are also  old timer that still showing now that they are selling when the prices starts lowering .

Maybe the post are best for everyone and that is what we should learn for many .

[Ahli38]

Panic sometimes occurs in 2 situations.
1. People who panic because he is tempted by the hype, he is afraid to miss the price. And as a result of the panic he was in a hurry to buy without analysis. without waiting for market conditions to calm down.


2. Panic due to being eaten by bad news so he was carried away by the news. usually happens to beginners who are not familiar with market analysis, candle analysis and trading psychology management. so people like this when the price goes down then he will panic and rush to sell. because he was afraid that the price would not rise again.
different from those who already have experience in the world of bitcoin. he tends to be calmer. he can see the situation with common sense and clear mind. so that when he received the news he would not immediately accept it easily. because he will do research first before making a decision.

.

"Be brave when others are scared. And be careful if you see others being too bold."

[Nrcewker]

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

Also I see many have forgot about the dump that happened in 2018, where suddenly from 20k usd Bitcoins suddenly fell to 3k usd.
But guess what after that BTC jumped back stronger and created history by reaching 60k usd.
So all the newbies are hence requested not to panic.
If you have shown some trust and bought some Bitcoins with your hard earned money, then give some time to it.
Just don’t panic and don’t sell your coins to the cruel buyers.
Instead if possible buy as much Bitcoins as you can in this bearish market.
Once Bitcoins start rising, it won’t stop. Mark my words.

[traderethereum]

The reason behind this panic is they feel bitcoin is get rich quick scheme and invest their savings into it in hope of getting fast profits but on the contrary when it start falling they can't analyse the market that it's normal and it will grow in the long and panic sell off during these times.So they eventually loose at this time but main is to control your emotions and invest what you afford to loose in the market.

Most of the people having challenge with the dip are the middle class people who never expected the market to be like this,  expecting to make profits in a short time. The rich ones are still buying Bitcoin even in this present dip because they understand it will definitely yield profits. People who used what they can't afford to invest are having challenge to have patience to wait for bull.

If they think that bitcoin is a get-rich-quick scheme, they are wrong because the price can change quickly without us knowing where it is going.
If they are not ready for the price swings, they can get stuck in the high price and have to wait until the price can reverse direction or even go higher.
Only people who are prepared for everything that will happen with bitcoin can take advantage of the opportunity to buy or sell bitcoins and earn something from bitcoins, while others will be at a loss if they sell their bitcoins.
They really need to learn about investing with only the money they can afford to lose so they don't take a huge risk out of the investment.

[m2017]

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

Also I see many have forgot about the dump that happened in 2018, where suddenly from 20k usd Bitcoins suddenly fell to 3k usd.
But guess what after that BTC jumped back stronger and created history by reaching 60k usd.

If we consider from the moment when bitcoin cost $3k, then by the time of $60k it brought 20 times more profit. People evaluate the current price by high indicators, while forgetting about past lows. Relative to them, even the current price still looks very good.

So all the newbies are hence requested not to panic.
If you have shown some trust and bought some Bitcoins with your hard earned money, then give some time to it.
Just don’t panic and don’t sell your coins to the cruel buyers.
Instead if possible buy as much Bitcoins as you can in this bearish market.
Once Bitcoins start rising, it won’t stop. Mark my words.

In these times of fear and panic, newbies need to keep your emotions under control and listen to the opinions of already experienced people who have seen this fall of the cryptomarket not for the first time. Those beginners who follow your advice will be able to keep their savings.

[evichi]

Bitcoin, just like every other crypto currency, is naturally volatile due to forces of supply and demand. Sometimes, as we are witnessing now, the prices goes down to such a low value to people begin to panic. One of the reasons for the price going down may be as a result of (according to Forbes) the US Federal Reserve, which is planning to raise interest rates this year to combat levels of inflation unseen in the U.S. for four decades (https://www.forbes.com/advisor/investing/why-is-bitcoins-price-falling/). But as many investors continue to invest and understand hoe Bitcoin works, it is also an opportunity for inventors to buy more, and HODLers to hold more tight, because, most often the price will eventually go up, as it has always done. So, this is time for investors to HODL.

[hZti]

I thin what many people need to understand in regards to the volatility is that we are at a very early stage of bitcoin as a currency. The market volume is very low and there is only  a few years of data to see where the price is going. So no you can not compare it to you everyday fiat currency.

[Fivestar4everMVP]

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.

I have always said this here on the forum, people claiming to know what the price of bitcoin will be in the next few days, months or even years are nothing but guess, there is absolutely no correct prediction of the price of bitcoin or any other crypto asset anywhere, people only guess and hope it turn out the way they guessed it so that they can shout and scream "you see!, i told you so", and its unfortunate that newbies will never stop falling for all this price prediction scam, but as it is right now, it is imperative that we that have been here for long should never stop educating the new comers, this is one of the reasons why this forum was developed, to educate as many that are willing to learn.

People should learn to invest with a long term prospective in mind, and those who wish or want to earn money from crypto in short term bases should go into day trading, or even do both like while investing with long term in mind, you learn to trade by the side for short term profit if you have the time are required tools.

[Rockstarguy]

If they think that bitcoin is a get-rich-quick scheme, they are wrong because the price can change quickly without us knowing where it is going.
If they are not ready for the price swings, they can get stuck in the high price and have to wait until the price can reverse direction or even go higher.

That is what some people think about bitcoin,  that it can get them rich in a short space of time . They don't care to know the volatility nature of bitcoin, that the price can change drastically without any signal.

Only people who are prepared for everything that will happen with bitcoin can take advantage of the opportunity to buy or sell bitcoins and earn something from bitcoins, while others will be at a loss if they sell their bitcoins.
They really need to learn about investing with only the money they can afford to lose so they don't take a huge risk out of the investment.

Before anyone will make up his/her mind to buy bitcoin,  the person need to understand how bitcoin works that it only takes patience to benefit from bitcoin profits.

[jayoh]

HODL gets harder and harder as the price drops, but I can assure you it's still the best route if you believe in BTC long term.

[kryptqnick]

Prior to 2017-2018, there was another major event which is just so tiny on the chart because of how much the price grew that it's hard to notice it if you don't know what to look for. In November 2013, the price was $1127, and then by April is fell to $360, and by January 2015 to $172. Next time it hit $1k was in January 2017. So of course it seemed like the good days were behind, and that Bitcoin might never hit $1k again. But boy oh boy people were wrong about that. I'm pretty sure those who are currently afraid Bitcoin won't recover and won't hit a new ATH are wrong as well. But the question remains how much time it will take. It can be a few months, can be a few years. I hope it's the former, but we should be prepared for the latter as well.

[SpenserReed]

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.

Don't you think it might just be a new 90-95-99% record? Anything can be the first time...

[joele]

Bear months and probably the floor price, next bull I expect at >$150k

[Mr.sprin]

If the market situation is like this, it's not only beginners who panic but those who have often held it and they also panic, those who don't hold coins, can say, don't panic, but for those who have current assets, most panic, especially beginners who are just starting to invest instead. increasingly panicked by the falling market.

[suzanne5223]

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.

This thread also serves as a reminder for a high-ranked member of the forum because there is some high-rank member who still can't deal with their emotion when it total bear market.

I myself am still very difficult to eliminate or suppress panic. Even though I've been trading crypto for quite a while, sometimes patience and greed and panic always appear and overwhelm me.

This happened because you don't choose to make peace with the trend that the market presented because if you do you'll only look for a way to make a profit out of the trend the market poses instead of panic.

However, the panic started when I used to trust influencers who provoked hype more and I was consumed by the hype and bought at the top. then when the price drops drastically. panic is unavoidable.

Cryptocurrency investment advice is to always dyor and if you follow most statements made by influencers you'll understand that they are only doing a marketing job which is either to increase the price of the coin they invested in or it a paid advertisement.

but here I prefer to analyze myself and collect news that can be trusted

These days no news is worth trusting because article writers also spicy up news and the best thing for you is to understand how 4years cycles of crypto work, how to select the right coin, and how to know good and exit points.

[Ale88]

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

That's absolutely right but you're forgetting one, very important, point: many people buy just because they think it'll keep going up, they don't actually have a plan nor they know how this market works, otherwise we wouldn't have so many people losing money.