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Author Topic: Newbies: Don't panic and learn to hold  (Read 1444 times)
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June 27, 2022, 11:50:17 PM
 #121

this will only matter about how newbie being told of crypto and how they are being lured to invest here.
Maybe but it is only a matter of individuals knowledge and belief in the Bitcoin potential because newbies are not the only ones who panic and sell when the market is bearish. This will always happen when most investors are only after profit making through BTC and not the beauty of the technology and the vision of Satoshi.

Some of them are those who learn by their own and see that this is a mining of money so their intention is to become rich earlier.
If they learn how on their own it will be better because there are a lot of posts on this forum that can safeguard newbies but they always choose not to learn because their belief is that crypto is just buying low and selling high schemes.

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June 28, 2022, 04:03:14 AM
 #122

But one should also know what currencies to hold. One can’t hold any crypto without knowing its potential. It is said,”better to half loaf than to have nothing.”
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June 28, 2022, 04:35:43 AM
 #123

Despite that it dipped to $17k last time, I didn't sell my Bitcoin where I have done some DCA already since May 2022. I am at a loss unfortunately but it doesn't stop me from my long-term goals in building wealth with Bitcoin. I don't mind how long will I be waiting for the bull run and recovery to commence, it's just that I don't want to make the same mistake as before in missing out Bitcoin while it was still cheap. For me, now's a good time despite that there's no perfect time to buy and hold.
If you look at the number of bitcoins you hold, you still haven't lost money if you didn't sell them. I don't think you made a mistake here, we don't know whether the market will go up or down tomorrow so DCA is the right thing to do so we don't have to regret it later. Just don't sell when the market is down and be determined to hold until the market goes up and you will be the winner.
yeah if you are holding bitcoin and you buy when the price is in dip like this season of dip and the price of Bitcoin increased as you are holding and you could not sell but the increase is three times profit of the money you used to invest for the bitcoin and no sell and Bitcoin fall and the profit you make there why holding reduced to two times of the money used to invest. You are not losing why holding for long term but if the price decreases very well that why holding your investment Money is reducing why holding that means that you are losing

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June 28, 2022, 06:39:17 AM
 #124

Generally, during market shifts, newbies get flustered and panic sell or buy. They should try to avoid making hasty decisions as they are putting themselves amidst the risk, while they should just be patient and hold until the market gets calmer. Understanding when to time their moves is a skill needed to be learnt.
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June 28, 2022, 10:15:43 AM
 #125

I personally hold the coin there is a target which if it hits the target then I will release the coin. I don't hold it for a long time as long as the coin I hold has touched the price as I expected then I will release it.

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June 28, 2022, 10:43:58 AM
 #126

I stick to a strategy of long-term investing. So I try to add cryptocurrencies to my investment portfolio during such price drawdowns. But there can be no talk about selling assets. In the future, all coins will be tens or hundreds of times more expensive and will bring their holders a decent profit! Cryptocurrencies are the future!

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June 28, 2022, 03:46:20 PM
 #127

Thanks for sharing the information like this here on the forum, with the chart illustration, it really show a little understanding, which trader's called it technical analysis (TA). Bitcoin price going to 15k is not a surprise, because when was 30k it took a lot of week's to break the support resistance, similar thing may occur at 20k, it also have a strong resistance to break down to 15k to 10k, which is another good entry to buy and hold for a long term investment.

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June 28, 2022, 08:43:13 PM
 #128

I would suggest, in times of panic, just get distracted from crypto overall.

Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
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June 28, 2022, 09:16:52 PM
 #129

I would suggest, in times of panic, just get distracted from crypto overall.

Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
Good, advice. Look elsewhere for your distraction and just keep your portfolio if you're long term. That's an effective thing to do if you can't take it anymore but you're believing that long term holding will make you successful here.
It doesn't need to be that extreme or what, you just need to remove your attention temporarily in the market so that you won't be thinking anything like forcing yourself to sell because, you might even think of it despite having losses.

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June 28, 2022, 09:21:41 PM
 #130

I like how you added the part of the importance of using an "investing" strategy of DCA or "Dollar Cost Averaging".  I think its important for everyone to remember that inherently bitcoin is NOT an investment.  Bitcoin , like all other fiat currencies has however become an investment, but keep in mind what it's really for.  Keep in mind it's positives as well as it's negatives.  Bitcoin does still have a lot of work to do before it gets to any point where it could be used as a reliable currency, so that should not be forgotten.

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June 28, 2022, 09:29:00 PM
 #131

I would suggest, in times of panic, just get distracted from crypto overall.

Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
Good, advice. Look elsewhere for your distraction and just keep your portfolio if you're long term. That's an effective thing to do if you can't take it anymore but you're believing that long term holding will make you successful here.
It doesn't need to be that extreme or what, you just need to remove your attention temporarily in the market so that you won't be thinking anything like forcing yourself to sell because, you might even think of it despite having losses.

Exactly! Sometimes I feel like the whole of design of some portfolios (all those red arrows/ red losses) is design is such a way that trigger some panic especially among newbies/new investors. I always advice to new investors to find some sort of a hobby that is NOT about finances. If you believe in a long term investment, whats the point to check it every day?
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June 28, 2022, 09:52:40 PM
 #132

But one should also know what currencies to hold. One can’t hold any crypto without knowing its potential. It is said,”better to half loaf than to have nothing.”
If you look from the thread the OP made it's actually quite clear that now the context of this creation is specifically made for bitcoin and from some of the discussion I read on the previous pages as well we can already see that the context revolves around bitcoin nothing else.
We already know that the potential of bitcoin is also very promising and I actually don't need to provide evidence because even from the naked eye all the evidence has been seen so indeed when you are sure about it then continue when you are not sure then don't try to force it.

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June 29, 2022, 03:52:43 AM
 #133

The cryptocurrency market is very volatile. Patience is very important to wait until the right time before selling.
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June 29, 2022, 04:34:32 AM
 #134

The more the value drop, the higher the rise. Even the person who says I bought bitcoin at its highest value has made a profit. All you have to do is be patient. Let the bitcoins you buy stay aside. It will necessarily reach more value than the value you get. Then you can sell it if you want. There is no reason to sell at a loss.

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June 29, 2022, 05:21:23 PM
 #135

I would suggest, in times of panic, just get distracted from crypto overall.

Find something that will help you to forget about your investment. Dont check prices/portfolio everyday, focus on your other everyday activities.
Good, advice. Look elsewhere for your distraction and just keep your portfolio if you're long term. That's an effective thing to do if you can't take it anymore but you're believing that long term holding will make you successful here.
It doesn't need to be that extreme or what, you just need to remove your attention temporarily in the market so that you won't be thinking anything like forcing yourself to sell because, you might even think of it despite having losses.

Exactly! Sometimes I feel like the whole of design of some portfolios (all those red arrows/ red losses) is design is such a way that trigger some panic especially among newbies/new investors. I always advice to new investors to find some sort of a hobby that is NOT about finances. If you believe in a long term investment, whats the point to check it every day?
The point is to see if the market did today and that's why we've been checking it at all times. I've been there and done that and it's really sad to see that the market is against to us at the moment.
But during the time that we're in the bull run, it's been so happy and it feels like it will never stop. And now that it's the time that we need to consider of being wiser through accumulation, that's what we need to do.

.
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JohnBitCo
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June 29, 2022, 05:30:07 PM
 #136

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.

Not only newbies but the old investors also get panic seeing prices of bitcoin below 20,000$. More panic is being created by crypto related news sites which can more negative news shaking the confidence of the bitcoin holders. In these times, we need someone to keep reminding us that we have to stay strong and threads like this really help us to stay focused and not get involved in panic selling.

Dogeum.io
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sbrys
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June 30, 2022, 09:55:46 AM
 #137

In fact it's very simple and applies to most assets :

- Invest only what you can afford to lose so as a consequence never sell at a loss
- Buy when bleeding, sell when people in newspapers publish opinions it will go to Millions
- If you are limited in funds buy only Bitcoin. It won't be as fast as some alts but all people know it thats what you need to be (always) in demand

Also bear in mind :

- Technology of blockchain is great in theory but we never really needed it. The part of world that has most of them I mean  Smiley
- It is a kind of bubble but one that will never really pop because of the past gains. People will always remember the ATH and human nature will want to repeat that. Also I have never see a bubble burst and resurrect higher.
- 99% of people shouting it will be the future don't understand the math and logic behind. They just want it to be the future because they own some and don't fully realize what it would mean to them. A future with only a decentralized currency means also the deletion of some social support systems keeping them alive.
- Institutions also buy it for the same reason. It's not changing the game itself, it's just increasing the volume (in both directions)

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June 30, 2022, 11:58:56 AM
 #138

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.

Not only newbies but the old investors also get panic seeing prices of bitcoin below 20,000$. More panic is being created by crypto related news sites which can more negative news shaking the confidence of the bitcoin holders. In these times, we need someone to keep reminding us that we have to stay strong and threads like this really help us to stay focused and not get involved in panic selling.
The statement that not only newbies, but also old investors are prone to panic will be closer to the truth. Any person can lose their nerves at the sight of a price drop of 70-80%. If news sites are the source of the panic, and you're not sure you can resist a bitcoin panic sell, then the solution is very simple - don't watch or read this news. It will be even better if remove any sources of information about crypto from view for a while until everything stabilizes.

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June 30, 2022, 12:03:56 PM
 #139

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.

Exactly, leave the pin pointing for professionals. Even they mess up a lot of the time. If it was easy to find out the area where an asset would bottom or top everybody would do it. It is not like trading is some secret dark magic, but it requires a lot of dedication and committment to building specific skills. That doesn't come over night, it requires sacrifice and I'd say passion for the markets.



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June 30, 2022, 03:10:51 PM
 #140

Now is the right time to be a hodler. Selling bitcoin at a lower price won’t get you anything. You are anyway at a loss if its price doesn’t go up. So, better learn to wait and get an idea of what is happening before you start panic selling. No whales are selling their bitcoin.

This scenario always happened throughout the history of bitcoins and the good thing about it is when you look at the history like the OP posted, the price will return to normal after the fall and mostly it gains some new price all ATH. Now that the newbies are panicking, they need to listen and learn from the veterans who were been here right in this same moment and when you look at them, they are just chilling out there and doing things that they won't be bothered by the market.

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