Bitcoin and patience

[Ale88]

Bitcoin as a digital asset has taught me that patience is the key.

That applies to every type of investment, not only bitcoin. Warren Buffett, probably the best investor in history, built his wealth thanks to his huge patience, he never rushed into buying or selling stocks, he mainly holds stuff. The problem is that today many people like to sell some get rich scheme and other people actually fall for that, so there is this idea that you can become rich almost overnight and as soon as things require to wait, well, people don't want to wait.

[2Pizza410000BTC]

In the world of Bitcoin, patience and a well-researched strategy are key.
It's important to manage risks wisely and maintain emotional discipline, especially in response to global events impacting market dynamics. There isn't a one size fits all solution on to how to go about it,  

Patience is the key to success. It is not only an eternal message but it is applicable everywhere in our life. Patience should be the only key when investing in Bitcoin. Bitcoin is an investment where greed or impatience will surely lead to big losses instead of profits. Investing in Bitcoins should never be done without research and investing should not be done with impatience. I advise an investor to exercise patience and then invest.

[Blitzboy]

In the world of Bitcoin, patience and a well-researched strategy are key.
It's important to manage risks wisely and maintain emotional discipline, especially in response to global events impacting market dynamics. There isn't a one size fits all solution on to how to go about it,  

Patience is the key to success. It is not only an eternal message but it is applicable everywhere in our life. Patience should be the only key when investing in Bitcoin. Bitcoin is an investment where greed or impatience will surely lead to big losses instead of profits. Investing in Bitcoins should never be done without research and investing should not be done with impatience. I advise an investor to exercise patience and then invest.

Bitcoin investing requires patience. We see over and again how market panic drives impulsive actions that end badly. Bitcoin's volatility makes patience a survival strategy. What does "patience" mean here? Its informed waiting, not just waiting. This requires constant learning, market awareness, and acceptance of cryptocurrency's unpredictability. Isnt it interesting that experienced investors teach patience? Their success stories are marked by measured, well-researched judgments over time. When we say "patience", we mean a holistic approach to Bitcoin investment that values knowledge, understands dangers, and opposes rapid gratification. Isnt that smarter for digital finance?

[samuraijin]

Most successful people have mature patience, especially those who already have experience in their lives in the world of business and investment, so it is very important for them to have god-level patience. Not everyone has that kind of character, if they are not trained from an early age.

So everyone understands Bitcoin, not just holding it, but the elements of how it is used and what is called a Bitcoin asset, namely Bitcoin and other digital currencies, is a long-term investment for people who have above average patience, if you If you don't have such characteristics then switch to other things such as trading or doing business, avoid long-term investments.

[CarnagexD]

Bitcoin shows us that time is more valuable than money. This was witnessed in the Russia-Ukraine war, which rattled investors. Who sold for $15k? Yes, they're regretting it. However, Bitcoin's resurgence is a sign of its durability, not chance. All humans react emotionally to market changes. It's a marathon, not a sprint. Those crypto millionaires? In addition to investing, they mastered holding. Checking prices daily may feel useful, but it's a problem. Real deal? The long game is about stability when everything else is uncertain.

When will people ever learn, bitcoin has proven time and time again that if you just believe in it and have the patience to wait for the price to go up again, it's never going to betray you, I just hope that more and more are learning this because there's nothing more sad than selling at an early than expected and then the next time, the price has then gone up and now you're regretting what you have done and you have to start all over again and wait and then you end up doing it again, I feel like the Russian-Ukraine war is sort of an excuse in my opinion because it looks like one of those events that could potential be a catastrophe that will have an effect on a global scale so I can understand why some people sold at that price point, they want to enjoy bitcoin profits in the case that the conflict escalates into a nuclear conflict.

[GreatArkansas]

Bitcoin as a digital asset has taught me that patience is the key.

That applies to every type of investment, not only bitcoin. Warren Buffett, probably the best investor in history, built his wealth thanks to his huge patience, he never rushed into buying or selling stocks, he mainly holds stuff. The problem is that today many people like to sell some get rich scheme and other people actually fall for that, so there is this idea that you can become rich almost overnight and as soon as things require to wait, well, people don't want to wait.

I agree with this, you got it.
A lot of people misunderstand investment in Bitcoin also, what they only see is the success or the positive. They don't see the downsides or negative times.
This must be lesson to every new people entering in the Bitcoin market and we can also blame some internet personality or some social media which is hyping these people like telling some things just to make them FOMO.

[kryptqnick]

I don't think op's assessment regaring the price drop of Bitcoin and Russia's war against Ukraine is accurate. The full-scale invasion was launched on February 24, 2022. The price was around $37k, and it was actually growing till the end of March. Then it started gradually going down, and Bitcoin cost less than $16k on November 10, 2022, but at that point, the world got used to the war and it wasn't heavily affecting the global economy or financial certainty.
But as for patience with Bitcoin, it is indeed necessary, so if a person is impatient, Bitcoin probably isn't a good fit.

[barisbilgili]

Patience is the key to success. It is not only an eternal message but it is applicable everywhere in our life. Patience should be the only key when investing in Bitcoin. Bitcoin is an investment where greed or impatience will surely lead to big losses instead of profits. Investing in Bitcoins should never be done without research and investing should not be done with impatience. I advise an investor to exercise patience and then invest.

Patience is really needed in any case, because without patience of course we cannot do anything well and it is also important for every person who will invest using Bitcoin to be able to understand Bitcoin well and also train their patience so as not to do it with greed. so that they regret what they did because they could not make a profit from the investment they made.

[CageMabok]

Patience is the key to success. It is not only an eternal message but it is applicable everywhere in our life. Patience should be the only key when investing in Bitcoin. Bitcoin is an investment where greed or impatience will surely lead to big losses instead of profits. Investing in Bitcoins should never be done without research and investing should not be done with impatience. I advise an investor to exercise patience and then invest.

What needs to be understood is that investing is a very simple job and not difficult to do for anyone who has the capital, knowledge and time to carry it out. Because every person who has these three aspects can easily carry them out and can also be quite relaxed without having to panic and act uneasy when they see bad things that are not necessarily true. Investing only requires a little strategy so you don't need to worry too much about panic when you're already running it, so this is a job that can be done more comfortably and relaxed.

[SquirrelJulietGarden]

What needs to be understood is that investing is a very simple job and not difficult to do for anyone who has the capital, knowledge and time to carry it out. Because every person who has these three aspects can easily carry them out and can also be quite relaxed without having to panic and act uneasy when they see bad things that are not necessarily true. Investing only requires a little strategy so you don't need to worry too much about panic when you're already running it, so this is a job that can be done more comfortably and relaxed.

Investing is so hard for people who are not patient enough and are not disciplined enough. They will buy and sell emotionally that will cause buying at top, selling at bottom and they will say Investing is hard.

By doing bad action in the market, it is right with them to say Investing is hard but if they can learn and change themselves, make better and wiser actions in the market, they can become successful investors.

Sticking with Dollar Cost Averaging will help investing more easier and without stress.
Dollar-Cost Averaging (DCA) Explained With Examples and Considerations
https://costavg.com/

[JayTrain]

Patience truly is the key, especially in such a dynamic and volatile environment like the cryptocurrency market.
The crypto space has seen its fair share of ups and downs, and the ability to maintain your investments during difficult times is critical to long-term success.
So the most important thing is nerves of steel and endurance in a long-term cycle.

[Etranger]

so if a person is impatient, Bitcoin probably isn't a good fit.

If a person is impatient, then not only bitcoin isn't a good fit, actually. Every investment requires patience and steadiness from a person. That is not a kind of activity where you know a result, hence you cannot calm down and just wait for something you count on. You have have to make quick decisions almost always and you have to be not only patient, but also prudent and deliberated.

[synchronym]

op I agree with you actually when Ukraine and Russia war was going on bitcoin market was very bad bitcoin market went below 15 thousand. Slowly the Bitcoin market has improved a lot with the current Bitcoin market cap exceeding 44 thousand. I think 2024 is the year we will see a better market for Bitcoin. Patience is very important while trading in crypto currency.

[MFahad]

All happiness come with patience and its good that now you know that with patience you can earn through bitcoin. People who are invested in bitcoin but they sell in dip due to worries about lossing more money will regret when they see that surge again take place in market. We should keep check on price but regularly checking even we are waiting for halving will not be a wise step or wise search because more you search more will be stress for you therefore be patience and wait till the April of proceeding year.

People who buy bitcoin in 2021 and don't take any stress due to fake news are the real investors and they will see a big pump in 2024. Some individuals are always in wait that when the price goes slightly higher and they sell their bitcoin but I think we should not sell bitcoin for less profit but hold until it gives us double worth of invested amount.

[Yatsan]

Bitcoin as a digital asset has taught me that patience is the key.

That applies to every type of investment, not only bitcoin. Warren Buffett, probably the best investor in history, built his wealth thanks to his huge patience, he never rushed into buying or selling stocks, he mainly holds stuff. The problem is that today many people like to sell some get rich scheme and other people actually fall for that, so there is this idea that you can become rich almost overnight and as soon as things require to wait, well, people don't want to wait.

Buying and selling is an investment approach, other than just buying and holding for a long time; either has its own risk. With the get rich scheme, you would be able to maximize the profit especially if you will know when is the perfect time to execute the action. On the other hand, just holding will still be profitable but never expect a really huge profit especially if capital isn't as big as the ideal. It will just save you from big stress. Indeed, this decision making is existing to all kind of investment. Both has the same output but not the amount. Bigger risk will always mean bigger profit, as its sole principle.

[Etranger]

Bigger risk will always mean bigger profit, as its sole principle.

Bigger risk also means bigger losses in an unfortunate case, however, I believe it is still worth taking, especially when a person doesn't have much to loose and has only few chances to change his situation for the better. Actually, we take risks all the time, sometimes without even knowing about it. It is just more specific and literal when it comes to trading or investing.

[Litzki1990]

Patience is very important in every work. No work will yield proper results until one is patient. Just as investing in Bitcoin involves risking money, one has to be patient enough to try to hold onto that investment. As soon as we invest in bitcoins if we become unattainable to sell that investment then we will never achieve the purpose for which we invested but we will end up losing more money by investing. It is difficult for an investor to show patience at the beginning of his investment because at that time he only wants to make a profit by any means and if the money shows a loss for a period of time then he becomes restless and tries to sell his investment with some loss. Those who can accept temporary loss and who have enough patience can surely keep their investment for a long time in spite of hundred adversities.

[Dump3er]

Bigger risk will always mean bigger profit, as its sole principle.

Bigger risk also means bigger losses in an unfortunate case, however, I believe it is still worth taking, especially when a person doesn't have much to loose and has only few chances to change his situation for the better. Actually, we take risks all the time, sometimes without even knowing about it. It is just more specific and literal when it comes to trading or investing.

It also depends on the responsibilities someone has. I just read again about taking out a loan to buy BTC. Honestly, if it is the year 2014, someone has little to no responsibilities, no family to feed and is at a young age and not exaggerating with the loan amount, I think it could be a risk that is worth taking. I have been reading some wild posts here in regards to financing BTC investments, like selling the wife's jewelry and stuff. But if someone decided to take out a moderate loan after crunching some numbers, knowing that if it goes wrong life would still go on quite comfortable, then why not go for it? I know people who have invested so much time into understanding BTC back at the time and if they came up with a well-considered approach to build their portfolio, loan money can be a component if someone understands the implications.

[Mpamaegbu]

...fast-forward from then till now how Bitcoin has bounce back to it current price and is still climbing up,
those people that sold their holdings at a loss will be licking their wounds by now and thinking how they wish they hold on to it a little bit longer.

They can count their losses if they sold and market begins to rally up. What if they sold prior to bear season, they will be happier they did. It's a two way thing. It's either this or that when it comes to Bitcoin; and by extension, life. Nothing is really cast in stone. We shouldn't make it look like it's automatic profit once we invest in Bitcoin. Being in profit in it will depend on when one buys. Anyone buying Bitcoin now is more likely getting into profit than into loss.

Monitoring the price of your holding everyday will earn you nothing, but since we are all humans, it will makes us want to react to some price changes which is not good for the goal of getting filthy rich in the crypto space.

Most times, what watching screen does is getting into our emotions and messing the whole thing up as we panic and sell off prematurely when we have correction, thinking it's a change in trend.

[AprilioMP]

It's near impossible to be successful in crypto without patience, investing is another thing, knowing how to hold is another thing also.
Almost all the crypto millionaire in the crypto space are good holders, think about that!!

Monitoring the price of your holding everyday will earn you nothing, but since we are all humans, it will makes us want to react to some price changes which is not good for the goal of getting filthy rich in the crypto space.

Being carried away by feelings will not work if you don't apply them. Patience is needed in all life activities because all activities contain risks based on their level. Investment activities that are risky due to fluctuating market prices.

Millionaires don't hold strange cryptocurrencies but what millionaires hold are coins that are worth something like Bitcoin. Crypto is confusing to many investors because Bitcoin is not the same as crypto.

I have thought that people who hold cryptos other than Bitcoin, they will be preoccupied with monitoring prices.
Then I also think, if the investment goal is to expect big profits in the future rather than short-term profits, it is natural that long-term Bitcoin holders will become millionaires.