What should be my fear?

[Jatiluhung]

What I fear the most and is usually feared by beginners is being easily influenced by bad news (fud). so that emotions and mental uncontrollable. panic and fear sometimes overwhelm us. and that's what we have to realize. therefore it is important for us as beginners to dig up more information and knowledge related to bitcoin in more depth. so if any fud comes . we become less affected. because important capital in long-term investment is mental resilience. that is what I feel.

I also continue to set aside my money to buy Bitcoin in stages with the DCA strategy. but if the OP did use Cold Money. then I think your mentality can be more awake.

There is some trader psychology that we must build within ourselves as beginners in the crypto world. as I read from a source ie

-Passion
we have to have passion in the field we are going into like crypto or bitcoin. so there is no compulsion in doing so. so that we are always eager to explore this field.

- courage
Building courage in trading is not easy. but still we have to dare to make our own strategy and don't just always follow what other people say.

- Discipline
Discipline in carrying out the plans and strategies that you have made, don't get consumed by the hype and stay on the track that has been planned. this will make psychology more awake.

and many other things that I read when I studied trading psychology. which I also use in long term investing.
sourch : Link

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[Tony116]

-snip-

Incorrect. A few hundred dollars or a few bitcoins can also be a long-term investment, now it may be just a small amount, but when bitcoin hits 100k or 300k, it won't be a small investment anymore. In addition, if you do not have much money to buy bitcoins once, you can also accumulate monthly, yearly and your bitcoins will not be small.
Not everyone knows about trading, and not all small investors want to trade to increase the amount of bitcoin that many are still accumulating.

Not really. Like you said not everyone understands trading, doesn't mean everyone does right? I don't know, maybe in your circle there are many people buying Bitcoin for a long-term investment, at my place is the opposite. Here so many people choose short term trading to increase their Bitcoin. So you can't just say it's wrong.

Maybe it's because the people we meet are not the same, the people I meet don't choose to trade to increase bitcoin but mainly accumulate on a regular basis. I also have friends who are traders, but they don't trade to increase the number of bitcoins. They trade with the goal of making a profit, they also invest long term in bitcoin, but they accumulate bitcoin every time bitcoin has a good entry point, or they will deduct part of the profit from daily trading to buy bitcoin every time bitcoin drops more.

[Mauser]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

For a HODL investor there is no reason to be fearful right now. In my opinion the Bitcoin price at the moment is relatively cheap and buying some coins for long term holding is a good idea. If like you said that you don't need the capital right now for spending, than investing it makes a lot of sense. The best argument for me to buy more crytpos at the moment is the double digit inflation rates. You are losing on average 10% purchasing power of your FIAT money by only letting it sit in your bank account. So why not invest the money and participate of the next bull market? And there is nothing really to fear about, because even prices will drop for bitcoin further in the short term, as a long term holder this is not going to affect you.  Crypto currencies like most other assets tend to move in cycles, so it's just a matter of time for the next rally to come.

[Sayeds56]

-snip-

Incorrect. A few hundred dollars or a few bitcoins can also be a long-term investment, now it may be just a small amount, but when bitcoin hits 100k or 300k, it won't be a small investment anymore. In addition, if you do not have much money to buy bitcoins once, you can also accumulate monthly, yearly and your bitcoins will not be small.
Not everyone knows about trading, and not all small investors want to trade to increase the amount of bitcoin that many are still accumulating.

Not really. Like you said not everyone understands trading, doesn't mean everyone does right? I don't know, maybe in your circle there are many people buying Bitcoin for a long-term investment, at my place is the opposite. Here so many people choose short term trading to increase their Bitcoin. So you can't just say it's wrong.

There is nothing wrong (and certainly anyone can make profit from trading) with short or mid term trading provided you have got the training of using technical indicators/charts and well aware of risk and money management tools which most important to take entry and exit at right time and securing your trade with stoploss to prevent liquidation of account.

Trading is never fearful job for those who are professionals, and they enjoy doing it.

[Hyphen(-)]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

You should have no concerns as long as you are only investing in Bitcoin.
There is a bright future for Bitcoin, and given how low the price has fallen in comparison to its all-time high, there is hope that it will rise above its all-time high before, during, or after the Bitcoin halving in 2024. This means you have nothing to fear, and now may be the time to invest in Bitcoin.
However, do not borrow money to invest in Bitcoin; instead, invest only what you can afford to lose.

[Iranus]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

You should have no concerns as long as you are only investing in Bitcoin.
There is a bright future for Bitcoin, and given how low the price has fallen in comparison to its all-time high, there is hope that it will rise above its all-time high before, during, or after the Bitcoin halving in 2024. This means you have nothing to fear, and now may be the time to invest in Bitcoin.
However, do not borrow money to invest in Bitcoin; instead, invest only what you can afford to lose.

For us who have witnessed collapse, and experienced intense bear seasons can say that what is happening now is a regular thing. But for OP, a newbie would be hard to bear despite hearing a lot about crashes, and history shows bitcoin will recover once the bear season is over. The best way for him to overcome those things is for him to experience it first-hand, no advice is as effective as a real experience. So I will agree with you, advise OP to invest with money he can lose.

[Hypnosis00]

For us who have witnessed collapse, and experienced intense bear seasons can say that what is happening now is a regular thing. But for OP, a newbie would be hard to bear despite hearing a lot about crashes, and history shows bitcoin will recover once the bear season is over. The best way for him to overcome those things is for him to experience it first-hand, no advice is as effective as a real experience. So I will agree with you, advise OP to invest with money he can lose.

He can listen to our advice anyway but it's up to OP if he will follow or not. But putting a position as a newbie, fear can really be what we feel and it was normal. Having an experience could change a lot and could also influence the way we think in the future and the way we respond to the market. We have to conquer our fear as this would be a reason for our failure, take the risk and have some experience. We may lose money from trying but it somehow also gives us some idea of how to interact with the volatility of the market.

[Sayeds56]

For us who have witnessed collapse, and experienced intense bear seasons can say that what is happening now is a regular thing. But for OP, a newbie would be hard to bear despite hearing a lot about crashes, and history shows bitcoin will recover once the bear season is over. The best way for him to overcome those things is for him to experience it first-hand, no advice is as effective as a real experience. So I will agree with you, advise OP to invest with money he can lose.

He can listen to our advice anyway but it's up to OP if he will follow or not. But putting a position as a newbie, fear can really be what we feel and it was normal. Having an experience could change a lot and could also influence the way we think in the future and the way we respond to the market. We have to conquer our fear as this would be a reason for our failure, take the risk and have some experience. We may lose money from trying but it somehow also gives us some idea of how to interact with the volatility of the market.

Well said. There is no short cut to experience and wisdom grows when we experience difficulties, and our fear of failure goes away. We all learn lessons from our failures and move on. When you step in trading and investment field, fear of loss is natural, but we can avert it by taking advice from experienced peoples and nowadays lot of material is available on internet to make technical and fundamental analysis of crypto assets which can help us to take right decision.

[Antonas1]

-snip-

Maybe it's because the people we meet are not the same, the people I meet don't choose to trade to increase bitcoin but mainly accumulate on a regular basis. I also have friends who are traders, but they don't trade to increase the number of bitcoins. They trade with the goal of making a profit, they also invest long term in bitcoin, but they accumulate bitcoin every time bitcoin has a good entry point, or they will deduct part of the profit from daily trading to buy bitcoin every time bitcoin drops more.

Exactly! And that's why in this case you can't say I was wrong in my perception of someone's statement, because it does exist and is different.

-snip-

There is nothing wrong (and certainly anyone can make profit from trading) with short or mid term trading provided you have got the training of using technical indicators/charts and well aware of risk and money management tools which most important to take entry and exit at right time and securing your trade with stoploss to prevent liquidation of account.
Trading is never fearful job for those who are professionals, and they enjoy doing it.

I haven't done it in a long time, but my friends still do. And I don't care about them anymore. Ha ha.

[Mophymac]

Thanks all for your kind response and contributions I  appreciate you all and am delighted to let you all know that I no longer have the fear of losing my fund again because I have taken my time to read and make few research as to enable me gain more knowledge on Bitcoin investment.

[shavebob77]

bitcoin and crypto profit its like a game of "doing nothing for the most time" your fear should be exchanges trying to convince you 24 hours a day to not go to self-custody path,ignore them and be risk aware.

[GigaBit]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

As of lately investing in Bitcoin is quite suitable. Many people waste time investing in Bitcoin thinking of losing. But the reality is different. I think losing your investment in Bitcoin is quite difficult, unless you are harming it in some other way. If you keep your bitcoins in a hardware wallet that would be the safest place. I think investing in bitcoins is not going to be wasted other than being stolen. A fear of many is acting out

Can the price drop? Of course, it is volatile so its price can go down or up.

That is why it is said that one should not invest more than one can afford to lose. Bitcoin can always drop - but over the long term - I recommend four years, minimum - it has always trended upwards, and often significantly. If investment is encouraged keeping these factors in mind, there will be nothing to fear. You can also invest accordingly by thinking better through your research.

[Inwestour]

Well said. There is no short cut to experience and wisdom grows when we experience difficulties, and our fear of failure goes away. We all learn lessons from our failures and move on. When you step in trading and investment field, fear of loss is natural, but we can avert it by taking advice from experienced peoples and nowadays lot of material is available on internet to make technical and fundamental analysis of crypto assets which can help us to take right decision.

People don't want to learn from experience other people, only if we make mistakes, we understand the essence and get a chance to gain experience. There are many videos and materials that are very good, but in fact it is not so easy to educate yourself. And there will always be fears, it is normal to doubt, but if we understand what we are doing, then the result is only a matter of time.

[xSkylarx]

Well said. There is no short cut to experience and wisdom grows when we experience difficulties, and our fear of failure goes away. We all learn lessons from our failures and move on. When you step in trading and investment field, fear of loss is natural, but we can avert it by taking advice from experienced peoples and nowadays lot of material is available on internet to make technical and fundamental analysis of crypto assets which can help us to take right decision.

People don't want to learn from experience other people, only if we make mistakes, we understand the essence and get a chance to gain experience. There are many videos and materials that are very good, but in fact it is not so easy to educate yourself. And there will always be fears, it is normal to doubt, but if we understand what we are doing, then the result is only a matter of time.

The fear would be lessen if you have knowledge on what we investing. If you have confidence on what you are doing since you learn it , gather resources online and also experience it in previous then fear is not the problem its your decision if it is right or wrong. Yes a lot of videos and other learning materials online but without willingness to find,read and watch it , it is still useless. Though you are right it is difficult to learn but that is for your own good and also motivate your self in learning so that you will continue it on daily basis.

[White pawn]

Thanks all for your kind response and contributions I  appreciate you all and am delighted to let you all know that I no longer have the fear of losing my fund again because I have taken my time to read and make few research as to enable me gain more knowledge on Bitcoin investment.

You never said you were afraid of losing your funds as you asked what you should be scared of. And I highly doubt that you took any time to read any comment from members here. I wish you would enlighten me on some of the knowledge you got from that time you took out to read and make few research on bitcoin investment.

[uchegod-21]

Thanks all for your kind response and contributions I  appreciate you all and am delighted to let you all know that I no longer have the fear of losing my fund again because I have taken my time to read and make few research as to enable me gain more knowledge on Bitcoin investment.

You never said you were afraid of losing your funds as you asked what you should be scared of. And I highly doubt that you took any time to read any comment from members here. I wish you would enlighten me on some of the knowledge you got from that time you took out to read and make few research on bitcoin investment.

That is a very nice observation from you. The person that created the topic did not say that he was afraid to lose his money. He just said that he is willing to invest in a long time that what will be his fear? Maybe he had fears of losing his money in his mind but did not share it with us.
Saying that he did not read through the threads is not good because it is making him a liar and there is no rule that says that he must write what he understood for you to believe that he has read through

[Stedsm]

Your greatest fear at this moment should be keeping your money safe in crypto. Buying BTC any moment gives you the license to be called a Bitcoiner, but to become a complete geek in this field, you must follow a few things before you can say that everything is perfect for you.

First things first, create a new wallet, Electrum and Mycelium are 2 of the industry's best, you can also go for Ledger or Trezor but you'll then need to go deeper in learning how to use it before storing your coins there. Don't worry, they provide great help to you when it comes to letting you understand how to use their hardware wallets.

Now, don't share your mnemonic phrase/passphrase/seed with anyone. It can be between a 12 and 24 word password kinda phrase that helps you retrieve your account if you anyhow lose control of your wallet on your current device. Never ever share it with anyone.

And the last stage, buy BTC. You got all the options from a credit card purchase to buying it through gift cards and even you can deposit USD on exchanges like Binance and then buy BTC with it over there. But, do not keep your funds at any exchange, be it Binance because what happened with FTX was a great example of where you should store your coins at. If you follow these simple steps, you should never be scared of anything because price is going to fluctuate but that's a completely different story and if you're gonna hodl for longer, please keep your money safe with yourself and under your own monitoring.

[stomachgrowls]

Thanks all for your kind response and contributions I  appreciate you all and am delighted to let you all know that I no longer have the fear of losing my fund again because I have taken my time to read and make few research as to enable me gain more knowledge on Bitcoin investment.

You never said you were afraid of losing your funds as you asked what you should be scared of. And I highly doubt that you took any time to read any comment from members here. I wish you would enlighten me on some of the knowledge you got from that time you took out to read and make few research on bitcoin investment.

That is a very nice observation from you. The person that created the topic did not say that he was afraid to lose his money. He just said that he is willing to invest in a long time that what will be his fear? Maybe he had fears of losing his money in his mind but did not share it with us.
Saying that he did not read through the threads is not good because it is making him a liar and there is no rule that says that he must write what he understood for you to believe that he has read through

When someone do make out some words or post without clarifying then us readers or the community would be just basically be able to point out on what he do mean about fear.
There's no other way around on what people should fear but only on the fear on where the price would be going if he's basically been using up the funds which is really not that he needs or something
do talks about savings which i would say that you wont really be bothered or fearing much if ever it would really be still negative. Honestly, the current price we do have now is really that something
considerable to get in or  something we could really say that it would really be just fine nor considerable on getting in or making some buys as of this time.

[poldanmig]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

Your fear may be the same as all of us here, namely the fear of a further decline in prices after making a purchase, but that is just a risk that is difficult to avoid, but despite all the risks that exist, I think you are doing right now is right by buying bitcoin at the price is relatively cheap ($16K) so it can be said that you have now made a small profit today (today bitcoin rate is $17.8K) and of course it is the fruit of your courage to take risks.

[Oasisman]

Thanks all for your kind response and contributions I  appreciate you all and am delighted to let you all know that I no longer have the fear of losing my fund again because I have taken my time to read and make few research as to enable me gain more knowledge on Bitcoin investment.

That's good to hear. You don't need to worry regarding your investment in Bitcoin, especially that you have a plan for a long term hold. That means, you're not gonna be bothered with ups and downs of the price movements as you, for sure have set your own target. In fact, for the long term hodlers, it is always an opportunity to buy when they see the market is suffering from a sharp decline.
However, another things to be afraid of when you do have Btc already is, when you use a certain platform that let it holds your Btcs, you'll never know, they might gonna steal your asset right in front of you. So, you better have to make a research as well on how to secure your Btc and where to store it safely.