No panic while holding my Bitcoin

[lizarder]

Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

The important point you have learned correctly and I like to listen to this sort of thing instead of arguing with risk whims and price fluctuations. Knowledge will lead us to the stage of emotional control when the market takes a hit as a result of some developing FUD news, as has been the case in recent days. The binance case also has an influence on the current decline in bitcoin prices and if you don't learn to understand bitcoin performance it will put you in a panic stage and whatever you have learned is good for actual knowledge.

Keep calm and keep collecting bitcoins (HOLD) is the best way to make maximum profits in the long term. The momentary panic caused by some of the problems that occur in the market will bring someone to the big loss stage and we have the opportunity to hold and not have to sell the bitcoins that we have during the current market conditions.

[bitLeap]

Indeed knowledge is power,

Knowledge is power, I like that point.
Knowledge is our basic capital in doing everything, and you are aware of that and make you able to understand more and know what to do when you face certain circumstances. Many people (beginners) in this space end up losing money because they lack knowledge about bitcoin which makes them panic and do what they should do.
Knowing and understanding what we are going to do is something that must be owned from the start, because if not something bad might happen, not only in the scope of bitcoin, but in all things related to life.
I think you will be a successful investor in the future with all the knowledge that you had in the early days when you jumped right into this bitcoin space.

[taufik123]

-snip-
The binance case also has an influence on the current decline in bitcoin prices and if you don't learn to understand bitcoin performance it will put you in a panic stage and whatever you have learned is good for actual knowledge.
-snip-

now what happens, more people don't understand the events of the Binance and SEC dispute, and many misunderstand and speculate as if Binance has been banned worldwide. this has a direct effect on crypto prices and see now the price crash and even altcoins are even worse.

Binance Global was not affected and since the SEC disrupted binance a lot of FUD has spread wildly and uncontrollably so that Binance's credibility has decreased slightly. Is this a manipulation by whales to make Bitcoin prices cheaper ahead of the Halving?

But looking at history May and June are bearish months and it's happening again right now.

[Ojima-ojo]

Weak hands usually have a problem in the network, they sell at any event that causes panic and they don't buy until the price starts to rise, it is great that you don't intend to use BTC the way weak hands do. From your post you have learnt things about BTC investment, but take note that BTC is also a currency, a permissionless and censorship resistant one, so you should also have confidence that BTC is a currency that cannot be controlled, hacked or shut down by any government and one you can use without anybody's permission, this is the most important thing about the network.

These weak hands are more of newbies that are inexperienced about Bitcoin. They panic sell at any slightest fud or fomo to getting back investment or possibly a little profit gained which causes a big price crash giving room for more whales to accumulate more bitcoin and wanting to control the market.

I just assume they are not knowledgeable enough to have studied about Bitcoin before getting involved in it. They are even worst than daily traders because traders too do not panic sell the way some newbies do and that has been the problem of price fluctuations in the system coupled with other factors too.

Are most newbies weak hands?


I dont think so because i take myself as an example, when i started my bitcoin journey as a newbie, i have the steel hands mentality and at that i always look out to the best possible opportunities to buy more rather than selling because as a newbie all I aimed to start more bitcoin and I don't even have that thought of ever selling no matter what the condition of the market will be, this approach really helps in my bitcoin accumulation journey.


So not all newbies are weak hands and just as the ops have said, he has taken the right step by studying well for the task ahead and the DCA value of Bitcoin regardless.

[FatFork]

This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

Hey, welcome to the forum!

You know, learning about Bitcoin is like peeling an onion. There are so many layers to uncover, and the more you dive in, the more you realize how fascinating and complex it is. It's not just about the technology or the market trends; it's about the philosophy behind it all. It's about challenging the traditional financial system and giving people control over their own money. It's about freedom, and that's something that I think everyone can get behind.

But let's not forget the importance of responsible investing. It's important to do your research, and not just blindly throw money at things. Bitcoin is a volatile asset, and the market can be unpredictable. That's why I'm glad that you're here on this forum; it means that you're serious about learning. You can't just jump into Bitcoin and expect to make a quick buck. It takes time to learn the basics, and even then you'll still have plenty more to learn. It's all about taking it one step at a time.
 

[Silberman]

These weak hands are more of newbies that are inexperienced about Bitcoin. They panic sell at any slightest fud or fomo to getting back investment or possibly a little profit gained which causes a big price crash giving room for more whales to accumulate more bitcoin and wanting to control the market.

I just assume they are not knowledgeable enough to have studied about Bitcoin before getting involved in it. They are even worst than daily traders because traders too do not panic sell the way some newbies do and that has been the problem of price fluctuations in the system coupled with other factors too.

Are most newbies weak hands?


I dont think so because i take myself as an example, when i started my bitcoin journey as a newbie, i have the steel hands mentality and at that i always look out to the best possible opportunities to buy more rather than selling because as a newbie all I aimed to start more bitcoin and I don't even have that thought of ever selling no matter what the condition of the market will be, this approach really helps in my bitcoin accumulation journey.


So not all newbies are weak hands and just as the ops have said, he has taken the right step by studying well for the task ahead and the DCA value of Bitcoin regardless.

Not all newbies are weak hands, however once you find out the majority of them are not really interested on this market for its ideals and you realize they just want to make some money, then it is easy to see why it would be difficult for them to hold their coins if things go wrong, however if a newbie comes to this market for the right reasons and they have spend a great deal of time informing themselves about it, then there is little doubt in my mind they will do well and they will keep holding their coins regardless of what happens next.

[Furious 7]

Nice boost for someone just getting into bitcoin and I love that.
But there are indeed several factors that also need to be considered in this case because taking action not to panic easily is not as easy as it is said so indeed this requires several conditions where you must be prepared with all the risks that exist, of course in this case bitcoin will obviously be a little complicated if it is not accompanied by knowledge and training to control emotions and greed then it also deserves to be studied further.
On the other hand, no one can predict immediate profit in bitcoin because in this case there is no guarantee that when in bitcoin it will benefit so you need to continue to be patient and determine the target you want to achieve in bitcoin, at least with that you have a yardstick of where you will enter and where you will exit.

[CryptSafe]

Weak hands usually have a problem in the network, they sell at any event that causes panic and they don't buy until the price starts to rise, it is great that you don't intend to use BTC the way weak hands do. From your post you have learnt things about BTC investment, but take note that BTC is also a currency, a permissionless and censorship resistant one, so you should also have confidence that BTC is a currency that cannot be controlled, hacked or shut down by any government and one you can use without anybody's permission, this is the most important thing about the network.

These weak hands are more of newbies that are inexperienced about Bitcoin. They panic sell at any slightest fud or fomo to getting back investment or possibly a little profit gained which causes a big price crash giving room for more whales to accumulate more bitcoin and wanting to control the market.

I just assume they are not knowledgeable enough to have studied about Bitcoin before getting involved in it. They are even worst than daily traders because traders too do not panic sell the way some newbies do and that has been the problem of price fluctuations in the system coupled with other factors too.

Are most newbies weak hands?


I dont think so because i take myself as an example, when i started my bitcoin journey as a newbie, i have the steel hands mentality and at that i always look out to the best possible opportunities to buy more rather than selling because as a newbie all I aimed to start more bitcoin and I don't even have that thought of ever selling no matter what the condition of the market will be, this approach really helps in my bitcoin accumulation journey.


So not all newbies are weak hands and just as the ops have said, he has taken the right step by studying well for the task ahead and the DCA value of Bitcoin regardless.

I do not doubt the fact but I believe that it is possibly so because of their inexperience as newbies. On the normal, nobody would want to  risk their investment to the point of losing out but rather gain back their investment forgetting that at that situation it would be better holding for long in other to recover all together with their profit.
Like I said research and inquiries keeps one abreast and knowledgeable about a subject matter so it is possible some newbies takes their time to do the needful by giving it an attempt to broaden their experience.

[coolcoinz]

This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

This is a bit childish, like you're trying to convince yourself that everything is going to be fine.
If you need assurance, you've invested too much in this.

Have you ever thought how many of us approach this so that we're completely calm and don't even need to check the price? We either invest so little that it doesn't matter, or we're so far in profit that it's basically impossible to be at a loss ever again. I check charts from time to time, see bitcoin up or down by 10% and don't even care. The only thing that makes me angry is bitcoin being involved in this strange war of the US vs shitcoins and all that it's going to lead to is US being left behind by all the crypto companies and deprived of tax money that it could've had.

Bitcoin is going to be here in 2024 and in 2025. All that will change is the places where people will mine, buy and spend their coins. You can be in or out, but bitcoin will be there with or without you.

[Cookdata]

Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

Panic and fear are natural and they are good for the human though, you need to be cautious in your actions, the OGs sometimes get scared as well in this market, no way you will invest in Bitcoin as a first-timer without exhibiting that in the beginning but with time, it will depreciate and vanish into the thin air when you understand how the market work or probably made some profits after holding for some time. However, hope you know that emotion is part of why money is been made from this market; people sell because of panic from others and people can also become excited when everyone is buying, emotion is what control the Bitcoin market.

[Dr.Bitcoin_Strange]

The old rule of never invest what you can't afford to lose" should not be neglected because that's also what will help you hold your Bitcoin for the long term. Some people invest a huge amount of money into Bitcoin, it could be an amount they can't bear the risk of seeing melt with the volatility of Bitcoin. If they see the price of Bitcoin going down, they sell out of panic and can incur some losses. So, always invest wisely; only buy with money you will not need for a long time. Keep some fiat so that during emergencies, there will be no reason to sell off your bitcoin to fulfill your needs.

[pixie85]

Are most newbies weak hands?


I dont think so because i take myself as an example, when i started my bitcoin journey as a newbie, i have the steel hands mentality and at that i always look out to the best possible opportunities to buy more rather than selling because as a newbie all I aimed to start more bitcoin and I don't even have that thought of ever selling no matter what the condition of the market will be, this approach really helps in my bitcoin accumulation journey.


So not all newbies are weak hands and just as the ops have said, he has taken the right step by studying well for the task ahead and the DCA value of Bitcoin regardless.

Most unfortunately are.
You had strong hands early on because, I'm guessing here, you had very little bitcoin.

It's easy to be a strong, dedicated holder as a newbie when your investment is a very small part of your total net worth. If you make 1000 USD a month and you have $500 in bitcoin and it goes down 10% so you're left with 450, you won't even care. Try holding your yearly salary of 12000 in bitcoin and watching it go through a bear market with a loss of 60% and you'll see if you're a strong or a weak hand.

From my experience, the first bear market was very hard, but the second one is easy.

[RewFrew]

Hello everyone, i just want to share my thought here as a newbie, i bought my first bitcoin two weeks back, after spending the first month studying and reading everything as relate to Bitcoin, the time spent on learning and gathering knowledge have started to pay off for me during this period were the price of bitcoin have nosedive greatly.
Let me explain what i mean in details.
First before i bought my first bitcoin, i first of all build a good understand of the market and how bitcoin volatility works, and also learned about the effect of external forces in determining the price of Bitcoin  such as exchange crisis and other governmental policies that can have short time effect on bitcoin.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

At first welcome to crypto world. At first my advice for you as a newbie you have to learn more about crypto. Again thanks for buy bitcoin. But i think you have to learn More about crypto and cryptocurrency market. Otherwise when you will be some losers then you will be demotivated. Crypto currency market always unpredictable and up and down is it’s natural behaviour. When you will be some benefited you will be pleased and when market will be down then you will be frustrated. So you need Learn More and more. If you study regularly about crypto after a certain time you will be a boss of crypto i think. And about your Bitcoin which you bought my advice you can hold it for long time. If you hold it for long time you will be must benefited therw has no confusion.

[mendace]

At first welcome to crypto world. At first my advice for you as a newbie you have to learn more about crypto. Again thanks for buy bitcoin. But i think you have to learn More about crypto and cryptocurrency market. Otherwise when you will be some losers then you will be demotivated. Crypto currency market always unpredictable and up and down is it’s natural behaviour. When you will be some benefited you will be pleased and when market will be down then you will be frustrated. So you need Learn More and more. If you study regularly about crypto after a certain time you will be a boss of crypto i think. And about your Bitcoin which you bought my advice you can hold it for long time. If you hold it for long time you will be must benefited therw has no confusion.

I would never advise anyone to invest in cryptocurrencies other than Bitcoin.  We have all seen how in the long term all shitcoins have caused large sums to be lost, especially if one tends to hold.  If this person to whom it is recommended to invest is also the first time that he is facing, then the advice to buy shitcoin is really very risky.  When I talk to newcomers I always explain the characteristics of Bitcoin and why they should do it but I also explain the risks.  So yes, I advise you to hold but you must also be ready to lose part of the investments.

[Quidat]

Hello everyone, i just want to share my thought here as a newbie, i bought my first bitcoin two weeks back, after spending the first month studying and reading everything as relate to Bitcoin, the time spent on learning and gathering knowledge have started to pay off for me during this period were the price of bitcoin have nosedive greatly.
Let me explain what i mean in details.
First before i bought my first bitcoin, i first of all build a good understand of the market and how bitcoin volatility works, and also learned about the effect of external forces in determining the price of Bitcoin  such as exchange crisis and other governmental policies that can have short time effect on bitcoin.
Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.
This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

For a noob then its unlikely that someone could easily make out those kind of controls when it comes into their holdings on which it would usually be that totally opposite because or due to lack of experience towards the market. If someone do manages himself not to be bothered with market volatility despite of being a noob then its really that a good behavior to have and not all would really be having that kind of control specially on dealing up with something that they havent been able to encounter before. There are even those old or veterans who do still feel up the panic or
anxiety or being worrisome on the time that the market would be making out some correction. Well, its not shocking since we are just humans which is really that prone with those impulsive
approach and reactions which is something that it is really that common.

[serjent05]

This and many more is the reason behind my current confidence in Bitcoin's ability never to let me lose if I hold for a long time.
Indeed knowledge is power, because knowledge can save you when money failed, because knowledge failure is a lifetime problem but money failure in terms of investment is temporally and if I wait I will soon be in profit again very soon, that is what past records have shown and proven.

It is a good thing that you know about the Bitcoin cycle, even with the current situation that the Bitcoin price is tanking and a possible downtrend is looming due to the negative effect and the FUD of exchanges being chased by SEC, the negative effect of this to sentiment is only temporary and the four-year cycle will eventually happen after the halving next year.  In case this is the best time to DCA and put a little patience on holding since it is just two years away before the possibility to witness another series of ATH-breaking Bitcoin price rallies.

[Issa56]

Hello everyone, i just want to share my thought here as a newbie, i bought my first bitcoin two weeks back, after spending the first month studying and reading everything as relate to Bitcoin, the time spent on learning and gathering knowledge have started to pay off for me during this period were the price of bitcoin have nosedive greatly.

It's a nice idea you have a better understanding before you invest in bitcoin, you shouldn't just invest blindly, when making bitcoin investment, we shouldn't just stop learning about bitcoin, even after buying bitcoin, then you should make sure you still go on more research just to keep on updating yourself about what's happening in market currently, when making investment, then you have to be very current, don't think the informations you accumulated previously is enough for you.

Secondly i have learned never to panic during any crisis time or when the bitcoin price drop significantly because in the near future it will increase in value again, and also to hold an amount i can afford to look away from for a long time.

Whenever their is any crises, most people end up panicking and selling their bitcoin, they are scared bitcoin is going to dump hard and they are going to lose a lot of money, but am having confidence that no matter how bitcoin dump, it's going to bounce back so I don't really care about any crisis happening.

I believe some people that are scared during crisis are the once that invested maybe their life saving in bitcoin or the once that went to take loan just to invest or maybe the once that collected money from people just to invest money for them, those once will be very scared to lose money, so whenever they hear about any bad news, they end up panicking and selling their bitcoin.

[Wiwo]

The old rule of never invest what you can't afford to lose" should not be neglected because that's also what will help you hold your Bitcoin for the long term. Some people invest a huge amount of money into Bitcoin, it could be an amount they can bear the risk of seeing melt with the volatility of Bitcoin. If they see the price of Bitcoin going down, they sell out of panic and can incur some losses. So, always invest wisely; only buy with money you will not need for a long time. Keep some fiat so that during emergencies, there will be no reason to sell off your bitcoin to fulfill your needs.

Exactly because the only way to get your panic on is when you invest more than you can afford and putting too much hopes on the market to make quick gains,  this is the fastest way to get you tension high and obviously becoming a victim to panics and fuds,  but ops failed to mentioned that in his writing but holding what you can afford is a fundamental market instruments that can help shift the direction the investors will face if the price dip below his expectation that way he will have the balls to wait for long for the market to recover before taking any action.

Against when an investors invest huge amount that will give him sleepless night and crisis if the market crash.

[Stella Mese]

welcome to the OP's forum? and also congratulations on your first bitcoin purchase.

I think what you are doing is a good thing because before you buy bitcoin, you learn about bitcoin and the risks of investing in btc. so you won't panic when the btc price drops. I think this is an interesting topic and you are a good example, especially for beginners who want to invest in bitcoin.

Hopefully your investment is successful and get big profits.

[robattfield]

Even so OP, you have also recognized your own mistakes, let's look directly at the fact that success or failure does not happen to us naturally. What you know and what you want with it are quite important in getting started, here people can give you great advice on how to approach as well as the right investment plan. with this environment.
Personally, I would like to encourage you that even if you have a loss in your investment journey, it is necessary to immediately acknowledge that problem as to where you have gone wrong so that things do not go as expected. The knowledge in this environment is really great, because it is related to both finance and technology, so I always feel lucky and grateful to know crypto, wish you good luck and Stay optimistic in the process of learning and investing with crypto.