No panic while holding my Bitcoin

[yazher]

Only those without adequate knowledge will panic at this point and as the ops stated,  I think he would have built adequate knowledge that will help in making the right decision at the right time and also eliminate panic from the mind and this is why we constantly advice newbie to first of all build knowledge first before anything to be able to stand against any market obstacles that may arise along the way.
The most important lesson is to have long-term investment goals that way you are kept away from the daily price movement and less funds.

One of the reasons they can handle the heat when the crypto market is not looking good is their multiple sources of income or they just invested the money they afford to lose or others used the money that is supposed to buy things that came from their bad habits for example alcohol and cigarettes, and when they see the price has decreased dramatically, they remained calm because they have nothing to lose and they will just keep buying at the low price so that they can maximize their potential income in the upcoming years without worrying too much. This is a good thing to do rather than sold your house to buy bitcoins and live in a tent for a year.

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[doomloop]

Holders somehow don't panic when they don't have plans to make their 1BTC become 2BTC. The idea why some would panic is because they know what could happen in the next 2 to 3 weeks like BTC price could ge dip to $20K.

Well 1btc can never become 2btc. I say this for hodlers and investors alike. What happens or is obtainable is that, bitcoin value for your hodlings will always fluctuate based on market condition. Other than this, the much you could get to increasing the numeric value of your btc is by trading which goes both ways and by topping your portfolio by buying more btc.
Values will always go up and down but, your numeric value stays the same.

1 Bitcoin can always become 2 Bitcoin but only if you know how to do it, of course, it won't just become 2 Bitcoin if it's kept idle, that will only make its price go up and down as the market moves, but as a trader, if you know when to buy and when to sell a coin, you can turn your 1 Bitcoin to 2 in not much time. All it needs is the ability to read the charts and understand the movements of the market to act accordingly.

What you basically need to do is sell the Bitcoin that you have (in this example, it's 1 Bitcoin) when the price is pretty high, for example, when price had hit $31k earlier, once it is sold, you now have $31k in stable coins, and when price of Bitcoin falls like it is at around $25k now, it may go to $20k as well, you buy when that happens, and then wait for it to go up again, or you can do DCA until it reaches the bottom and then sell when it goes high again. Repeat the same thing for about 2 or 3 times and you will have 2 Bitcoins or maybe even more.

[eightdots]

Holders somehow don't panic when they don't have plans to make their 1BTC become 2BTC. The idea why some would panic is because they know what could happen in the next 2 to 3 weeks like BTC price could ge dip to $20K.

Well 1btc can never become 2btc. I say this for hodlers and investors alike. What happens or is obtainable is that, bitcoin value for your hodlings will always fluctuate based on market condition. Other than this, the much you could get to increasing the numeric value of your btc is by trading which goes both ways and by topping your portfolio by buying more btc.
Values will always go up and down but, your numeric value stays the same.

1 Bitcoin can always become 2 Bitcoin but only if you know how to do it, of course, it won't just become 2 Bitcoin if it's kept idle, that will only make its price go up and down as the market moves, but as a trader, if you know when to buy and when to sell a coin, you can turn your 1 Bitcoin to 2 in not much time. All it needs is the ability to read the charts and understand the movements of the market to act accordingly.

What you basically need to do is sell the Bitcoin that you have (in this example, it's 1 Bitcoin) when the price is pretty high, for example, when price had hit $31k earlier, once it is sold, you now have $31k in stable coins, and when price of Bitcoin falls like it is at around $25k now, it may go to $20k as well, you buy when that happens, and then wait for it to go up again, or you can do DCA until it reaches the bottom and then sell when it goes high again. Repeat the same thing for about 2 or 3 times and you will have 2 Bitcoins or maybe even more.

Of course we can make 1 bitcoin 2 bitcoins. This requires action, but it may not be as easy as it sounds. So everything is not about reading graphs and drawing 2-3 lines. For example, who knew about the lawsuits that the SEC would file. Sometimes things go unplanned. No matter how many correct transactions you open, sometimes things may not go well. The lawsuits filed by the SEC have nothing to do with bitcoin but are still somewhat affected. So we can make 1 bitcoin 2 bitcoins, but under the best conditions. Otherwise it is very difficult but not impossible.

[AmoreJaz]

Only those without adequate knowledge will panic at this point and as the ops stated,  I think he would have built adequate knowledge that will help in making the right decision at the right time and also eliminate panic from the mind and this is why we constantly advice newbie to first of all build knowledge first before anything to be able to stand against any market obstacles that may arise along the way.
The most important lesson is to have long-term investment goals that way you are kept away from the daily price movement and less funds.

One of the reasons they can handle the heat when the crypto market is not looking good is their multiple sources of income or they just invested the money they afford to lose or others used the money that is supposed to buy things that came from their bad habits for example alcohol and cigarettes, and when they see the price has decreased dramatically, they remained calm because they have nothing to lose and they will just keep buying at the low price so that they can maximize their potential income in the upcoming years without worrying too much. This is a good thing to do rather than sold your house to buy bitcoins and live in a tent for a year.

this is why everyone is always recommending to invest your spare money on this market so you won't be agitated or panic whenever the market is not looking good. because panic is real if you use your money that you will use to pay for your bills and other necessities. you are always worried about the movement of the market. hence, creating emotional stress on this process.
but if you will only allocate your extra extra money, you won't be so disturb about the roller coaster ride in this market, because you can wait for the market to go green.

[Litzki1990]

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.

There is nothing to panic if the price of Bitcoin falls after you buy Bitcoin because that is the policy in the market. It is very normal for bitcoins to go up and down in value. Bitcoin would be known as a stablecoin if the price did not rise. Since there is volatility in the market, you need to understand the volatility and then buy the coins. You can buy Bitcoin at the time when you think or your observation that the price of Bitcoin will not go down any further. If you get excited after buying bitcoins to see that the price of bitcoins has gone down, you will not be able to hold on to your investment. Even if the value of Bitcoin goes down, you should take this as a matter of course.

[Bitcoin_people]

Since you are a newbie Bitcoin investor, you must follow all these strategies. It is most important that you better follow strict rules in all these matters. Since you have acquired a good knowledge of the Bitcoin market, you are not at a disadvantage. But there are many people who are afraid to invest in Bitcoin. However, investing in Bitcoins should never be panicky rather it is best to invest with patience. And the volatility of the Bitcoin market and the investment following the various directions certainly have a higher risk of profit. And Bitcoin is a virtual currency where investment is unlikely to be hacked in the future. And this bitcoin has a near future that will give an investor the profit to change his life.

[Cryptmuster]

this is why everyone is always recommending to invest your spare money on this market so you won't be agitated or panic whenever the market is not looking good. because panic is real if you use your money that you will use to pay for your bills and other necessities. you are always worried about the movement of the market. hence, creating emotional stress on this process.
but if you will only allocate your extra extra money, you won't be so disturb about the roller coaster ride in this market, because you can wait for the market to go green.

In long-term trades, patience is the most important thing, and I don't think it's always just a matter of whether or not you can keep the money for the long term. Sometimes the market drops so much that you can lose faith in the success of the transaction, and in this case, sell at a loss. Manipulators achieve this, if they provoke a panic during a fall, then panic selling will lower the price even lower and at that time they will buy.

[coinerer]

Personally, I respect and approve of your approach and believe that if more people acted like you, the cryptocurrency market would be much safer. A conscious investment is very important, of course it does not mean that it will always be profitable, but it shows a mature approach to investment and I believe that in the long run it will guarantee you profit. Do not give up further learning economics and technical analysis, and it will certainly pay off in the future. I wish you every success.

If everyone had the same mindset, everything would have gone well. so more than half of the crypto users panic and when they hear any negative market news or see the market dump, they quickly start selling their crypto so the market gets worse. But they don't understand that the market will pump again and they can get more profit.  So, everyone should keep this in mind and not panic, but be patient

[DanWalker]

this is why everyone is always recommending to invest your spare money on this market so you won't be agitated or panic whenever the market is not looking good. because panic is real if you use your money that you will use to pay for your bills and other necessities. you are always worried about the movement of the market. hence, creating emotional stress on this process.
but if you will only allocate your extra extra money, you won't be so disturb about the roller coaster ride in this market, because you can wait for the market to go green.

In long-term trades, patience is the most important thing, and I don't think it's always just a matter of whether or not you can keep the money for the long term. Sometimes the market drops so much that you can lose faith in the success of the transaction, and in this case, sell at a loss. Manipulators achieve this, if they provoke a panic during a fall, then panic selling will lower the price even lower and at that time they will buy.

What happens after you cut loss, but the price doesn't continue to fall? Whether in a bull or bear season, bitcoin is never predictable, and we will never know what the market manipulators are thinking. Selling bitcoin while the price is falling is actually an extremely risky move, if you are not a good analyst, you should not try this.

If unfortunately, the market continues to fall when we buy, we should be patient and continue to DCA if we still have money in reserve. If not, hold on and do nothing, don't try to prove that we can read the minds of the sharks or the market makers.

[puloweh555]

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.

Knowledge is the most important thing in crypto investing, especially when you are dealing with assets like Bitcoin. I hope you don't feel satisfied with the knowledge you have, you should learn more about bitcoin in this forum especially studying the different types of wallets available to store Bitcoins and keep trying to use a secure non-custodial wallet in order to be in complete control of your bitcoin assets.

You should also understand the importance of the hodl principle in Bitcoin investment. Holding your Bitcoins in the long term can provide better results, of course, this also trains yourself not to panic when holding bitcoins. Especially with fud like what's happening now with SEC vs Binance US, we're panic selling if we don't have enough knowledge. Therefore it is important to continue learning and continue to gather information about bitcoin.

[Reid]

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.

That's sufficient reason to buy Bitcoin. Never ever compromise your other investments and your monthly bills payment. If you have the spare, buy. There's no need to force buying just because someone said that it will soon be pumped. What if it doesn't? Then regrets will keep on piling in until a panic happens, and you sell your Bitcoin without even thinking it through.

I like it more when I read stories of different people who also first bought the technology. You can also learn from them especially if they make a mistake before their investment plan. Keep it up. Just buy whenever you feel like it or if you can. It will always be your choice.

[Lordhermes]

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.

That's sufficient reason to buy Bitcoin. Never ever compromise your other investments and your monthly bills payment. If you have the spare, buy. There's no need to force buying just because someone said that it will soon be pumped. What if it doesn't? Then regrets will keep on piling in until a panic happens, and you sell your Bitcoin without even thinking it through.

I like it more when I read stories of different people who also first bought the technology. You can also learn from them especially if they make a mistake before their investment plan. Keep it up. Just buy whenever you feel like it or if you can. It will always be your choice.

everyday we learn new things,the knowledge of Bitcoin is so vert, you may think you have known more,but it's just halve of someone else. That's why everyone have to study more about the technology. No knowledge is waste because you didn't make money from it, some knowledge are for self development and for awareness.

I bought my first Bitcoin in early 2021 when it was worth $58, with my savings and today it's far below it, have lost so much, I decided to hold it for future sake, I'll never sell it it I make profit. Have learnt my lesson to always use your spare money to invest in Bitcoin. Incase of anything it won't worry you much.

[BVeyron]

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.

Buying some BTC is a good idea regardless the moment of buying. BTC is suitable for long-term hodling, I assume it won't bring millions in a couple of months, but there is a tendency for BTC to become more expensive with time. Moreover, there is a chance to save some value in case of dollar and other fiat inflation (which is really possible nowadays). However, its only a chance: a probability, not a guarantee (in case of fiat inflation, crypto can either be stable, or become nothing in a moment too)...

[NNRR]

An investor who is new to Bitcoin should really know about Bitcoin first, otherwise he might face big losses because the price of Bitcoin is always above the fluctuation, so new investors often invest in Bitcoin and sell when the price drops.  makes And they face loss but if that new investor knew about Bitcoin he might not have sold his investment at a loss he might have held and if he had held he might have got out at some point with a profit so if no one sells Bitcoin with Loses Because Bitcoin Future so Bright Hold it

[Casdinyard]

First of all, welcome to forum and I have to say that you chose a very good time to buy your first bitcoin.

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.

Regarding this "I will be in the profit very soon" part, that doesn't have to necessarily be true as it may be even years before bitcoin goes back to the levels where you bought it so you should be be prepared for that scenario as well. Having said that, since you bought your first bitcoin much cheaper than ATH price was, chances are that you won't have to wait for years to be in profit. 

Great reality check. A lot of people in this industry come with the idea of quick profits which is great and true to some degree but at the same time it doesn't happen as often as these newbies think. There's definitely dry spells and periods of no movement, which we may be in right now since the price of bitcoin never moved from its 26-27k support. But at the same time this is great exercise to help people be accustomed to how things go in the bitcoin industry.

I joined bitcoin with the very same idea that was shattered when I lost significant amounts of my investment in 2018, from there I worked my way up and was able to even go beyond of what I initially thought would set me up for life. Bitcoin pays those who wait but the secret is to not expect that much.

[jossiel]

Welcome and good to see you here.

You're right about panicking, it's not going to help a newbie if he panics while seeing the price of bitcoin goes down. And that's good that you've acknowledged that while you're new.

Because not every newbie can understand that quickly, all they think is to take the profits now and never go back to the market. They think it's an extra special market and with different process from the other usual markets that we know.

[qwertyup23]

<..snip..>
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.

I must say, I admire your courage for purchasing BTC before you actually studied it. Normally. potential investors would first study and research the market before they commit to an investment. Though the price of BTC has went down and somehow stabilized, this should not discourage anyone from attempting to invest in this space due to its sheer potential in the future.

By basing it purely on its price history index, you would observe that the price of BTC increases over the years. Along with the upcoming 2024 fork, expect its prices to increase higher as the days passes by.

[Kakmakr]

Well, your research might help you to make the biggest profit in your life.... much later. I bought bitcoins when the price was about $400.... and I saw it's potential from the start. I sold some of those bitcoins for $18 000 and then more when it reached $40 000.... so the word "hodl" was taken to heart.. and I made massive profits.

We know there are no garantee that it will happen again, but it is a good strategy to hoard or hodl ...if it happens. It is better to have coins when it happens, than having nothing and blaming yourself for selling.. when it was not the right time. 

[Bananington]

The only time when you should panic is when you don't either remember where you hid your private keys or you lost them.
Also, when you fail to adhere to special security tips like trusting the wrong person with details of your crypto currency, failing to use good wallets to secure your coins and even failure to get more knowledge about current Bitcoin market, trends, news and events, be sure to enter a state of constant panic.
While current news is speculating a bullish run for BTC currently, the price is yet to come down sufficiently and anyone HODLing right now, just like you should do just fine.
If you got more coins to invest in, please do. Don't mind the rate or rave going on in the news about BTC, the best is yet to happen.

[roksana.hee]

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.

You should need to know more about this forum because you mention back you're a newbie in this forum. For that, I think you should read more and more of the below threads.

Some important threads

Newbies - Read before posting
Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ
BTCtalk Activity times
FAQ: Everything you need to know about forum 'activity, account ranks and merit
Merit & new rank requirements