The Psychology of Investing in Bitcoin

[Antotena]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

I don't have the real stats to defend my claim but I can say that more than 50% of people who hold bitcoin are in for the profit, even the traders doesn't care about the tech but the money they can make from the speculations around bitcoin. The only time they care about tech or development is when the development is a positive one that will increase the price of Bitcoin so the can make money and after that, they wait for another speculations or move to altcoins.

I personally love bitcoin tech bit if there is anything I want to be upgraded than ever is the transaction speed. I don't have the power but if we have that 5x, it will be for the better of all investors, traders and adoption. It will even attract more people that loves to use altcoins because of the high transaction fees but the question is will they do it, some people will claim that Bitcoin supply will be affected but I still believe there is a way around everything.

[suzanne5223]

Bitcoin was created as an alternative to fiat currency but most people see it differently now due to the huge traction and multipliers it has made over the years. If I am right 95% of all BTC are into for profit, not the technology even those that are into it for the technology joined its market due to the future benefit they virtualize it presenting. Understandably, the profitability of a market is what fuels its longevity but it also fuels market manipulation, FUD, etc that play a huge role in what determines the price of the BTC market.

I don't think there is anything as Hodler for life; we don't buy bitcoins to hold them for the rest of our lives; they are not meant to be bought and held permanently in our wallets; they are not decorations; they are there to serve a purpose.

You got this so wrong. There are life holders. They don't care how high the bitcoin price goes and how low it will go. They just want to own bitcoin for life. They are already wealthy, make waiting if bitcoin can worth 1 million dollars in the future. Satoshi is a Hodler for life. Myself, there's a portion of my bitcoin I will not sell, no matter how high the price goes.

Technically, yes.
What the above user said show there are more people who don't understand the BTC technology than we have those that understand the tech and I am surprised that after BlackRock and other world-leading investment companies filed for spot ETF, we still have some people who don't strongly believe in BTC as a lifetime investment

[Gormicsta]

Well Hello from the other side ~ 

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

Every Bitcoin investor is investing for the primary aim of making profit, maybe the tech or the thrills as you mentioned may fall under the secondary aim of going into bitcoin investment. That been said, its important to note that, how successful you are as a Bitcoin investor is solely dependent on the investment technique employed by the investor, what do I mean by this?
Bitcoin isn't like every other Altcoins, Bitcoin is a more sophisticated token, that's why its called the father of all crypto, the framework and mechanism of Bitcoin advices investors to HODL for the long-term before you can truly reap the true benefit of Bitcoin, yeah there are a lot investors who do the short-term and they believe that they're reaping the true benefit of Bitcoin.
If you're a short-term investor in Bitcoin, you'll not only miss out on the true benefit of Bitcoin but you'll also expose yourself to unnecessary emotional discomfort that may lead you to making drastic decisions like selling your token during a dip or when it reaches a significant number. But using the long-term technique shields you from these situations.

[uneng]

And for a privacy supporter like me I just realized this recently that im more into Bitcoin because of its privacy and freedom, I don't like being controlled so I chose to be free with my finance with the help of Bitcoin.

Is this right? Because I see most people always talk about privacy, freedom and that's the main reason for them to choose bitcoin. But meanwhile, most people just talk about bitcoin's volatility and price on a daily basis. It doesn't stop there, the majority are using bitcoin as an investment and people are using centralized exchanges to buy and sell bitcoins. Most of us are here for profit, few of us are here for technology or privacy if bitcoin is not profitable. We don't need to deny our true purpose when choosing bitcoin.

I like to believe Bitcoin is profitable because it gives us the possibility of being over control of our own money when transacting it worldwide without frontiers and when storing it in our self-custody wallets, without intervention from regulators and governments. Bitcoin has become profitable due to its features and benefits to adopters, and not due to a temporary hype. It has come to stay and to improve our personal experiences when dealing with money in this digital world we live nowadays.

Profitability is a consequence of technology and privacy. So I think we should be thankful for every characteristics of Bitcoin, otherwise we wouldn't have access to the profit factor, after all.

That's right, bitcoin brings us many conveniences that no other currency has. But I mean, it would be a lie to say that we chose bitcoin because of the technology, because of the convenience it brings us, not because of the profit. Of course, we also need the privacy and anonymity that bitcoin offers, but profits are what we want more from bitcoin. And this life is very pragmatic and money is very important, everyone knows that and everyone needs it. So why don't we dare admit our main purpose when choosing bitcoin? That's not a shame. I am proud to be a bitcoin investor and to be able to make money from it, and that was my main purpose when I chose bitcoin .

Indeed, there isn't any problem in confessing opportunity of profit is the main reason which drived you to be a Bitcoin adopter. After all, we live in a capitalist world, where those who have better financial conditions achieve access to superior life quality. It's natural that we constantly seek for improving ourselves. And if it wasn't for Bitcoin, probably many of us wouldn't have access to alternative profitable investments and earnings opportunities in our local areas and communities.

Everyone wants to thrive in life, to be autonomous, respected and live safely. Thankfully Bitcoin is helping us to achieve it in a decentralized and ethical way, so we can thrive in life, without having to "sell our souls" or prejudicing and abusing other people in the process, which is, unfortunatelly, the case of many powerful men in the world who have become successful, but by the price of a lot of suffering, injustice and contradictions.

[CryptopreneurBrainboss]

I don't think there is anything as Hodler for life; we don't buy bitcoins to hold them for the rest of our lives; they are not meant to be bought and held permanently in our wallets; they are not decorations; they are there to serve a purpose.

There are wallets that haven't moved the Bitcoin they bought since decade ago, you could say it's because they have forgotten their private key but that can't be true in all situations. Some of the Investors still have access to their Bitcoin but they're hodling them as generationally inheritance. People are buying Bitcoin for their grandchildren because they have no need for the profits they're getting, they're already rich. People are stashing Bitcoin as collection (collectables) because they know Bitcoin has a limited supply. Not everyone wants to invest in Bitcoin and take profits every little chances that they get.

I like the idea of buying and holding for a long time, and when I see the time to take profit, I sell and take profit from what I hold. Even if I don't sell, I can still sell and keep some rebuy at the right time, and all of that, even if it takes someone 10 years before they can sell their holdings, it's still not a holding for life.

If you have other source of income that is giving you enough money to take care of yourself by providing for your need and also being able to cover up for your wants, you won't be tempted to touch your Bitcoin. The average job is into Bitcoin for profit so they have to sell every chance that they get but we have those in for the long game and they mightn't sell the Bitcoin they acquired until death comes although their heir will eventually sell the Bitcoin when they're in need of money.

[Balto77]

The situation changes from person to person, but in my opinion people don't invest for the thrill but because they believe in it, given that bitcoin was born and has had great success in the world.

[glendall]

Yes, I once felt in a rush to sell my BTC when it reached a new level from before, but there was a reason I sold it,
I'm not a holder, just a daily trader who gets a profit of just a few % is enough,

[Nechiequ]

Yes, I once felt in a rush to sell my BTC when it reached a new level from before, but there was a reason I sold it,
I'm not a holder, just a daily trader who gets a profit of just a few % is enough,

Indeed, I feel that it depends on each party who sells/buys BTC, some can last a long time and some a short time, sometimes people sell it at a time of urgency, even though a little loss is not a problem, but I see this there are 2 versions, namely:
1. BTC is used as an investment tool (long-term)
2. BTC is used as a medium of exchange / trade (short term)
But that goes back to each owner what kind of tool the btc will be used for, the most important thing for me is that there is money coming in (profit) obtained from it in any way.

[ChiBitCTy]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

"Hello from the other side" ..have you passed away or ? In all seriousness this is a decent topic and there's on main thing I'd like to add.  Everyone needs to keep in mind that bitcoin is inherently NOT an investment.  It's a currency, and I wish more people saw it that way.  To me, and I know there's plenty that disagree, but to me bitcoin will only succeed if it become an easier and cheaper to use form of money.  That's just me, and I do feel pretty strongly about that.

Has it become an investment just like all currencies are, yes..but make sure to keep this all in mind when "investing" in bitcoin.  I do wish more people cared about it's tech and why it was created.

[KingsDen]

Bitcoin was created as an alternative to fiat currency but most people see it differently now due to the huge traction and multipliers it has made over the years. If I am right 95% of all BTC are into for profit, not the technology even those that are into it for the technology joined its market due to the future benefit they virtualize it presenting. Understandably, the profitability of a market is what fuels its longevity but it also fuels market manipulation, FUD, etc that play a huge role in what determines the price of the BTC market.

Bitcoin has changed to a great extent from what it was seen from its creation. I am not surprised because that is the nature of new technology. Whenever a new idea is coined and launched, it is very much open to modification such that if care is not taken, the original idea of that invention would be overridden. Bitcoin is not an exception to this. I do not think that the bitcoin we see now is what Satoshi intended it to be. I believe and according to the whitepaper, Satoshi proposed something that will be a currency for buying and selling, fast and also fee less transaction. Today, bitcoin is more of an investment asset than a currency, it is beaten by other coins such as XRP in speed and transaction fee are mostly in hundreds now.

Yes, I once felt in a rush to sell my BTC when it reached a new level from before, but there was a reason I sold it,
I'm not a holder, just a daily trader who gets a profit of just a few % is enough,

At a time everyone of us have sold and later regretted, but such regrets don't last long if you don't sell for silly reasons. Again, a successful day trader can be in profits more than a Hodler

[Ndabagi01]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

I believe that everyone has a different approach or feeling about what they want to use bitcoin for, and that everyone's approach is based on what they are most comfortable using it for. It was originally created to serve as an alternative to the traditional fiat currency we use today.

However, some people now use it as a form of investment, while others delve deeper into its technical aspects, becoming miners. Some people also see it as an asset that can be held for a long time. All of these factors, among others, contribute to bitcoin's current widespread adoption.

Even though the primary purpose of inventing the currency is not what most people use it for, the widespread adoption it has received has aided in its growth, which is what all bitcoin enthusiasts desire, and the inventor will be proud of the progress it has made thus far.

[Fatunad]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

I believe that everyone has a different approach or feeling about what they want to use bitcoin for, and that everyone's approach is based on what they are most comfortable using it for. It was originally created to serve as an alternative to the traditional fiat currency we use today.

However, some people now use it as a form of investment, while others delve deeper into its technical aspects, becoming miners. Some people also see it as an asset that can be held for a long time. All of these factors, among others, contribute to bitcoin's current widespread adoption.

Even though the primary purpose of inventing the currency is not what most people use it for, the widespread adoption it has received has aided in its growth, which is what all bitcoin enthusiasts desire, and the inventor will be proud of the progress it has made thus far.

Your money, your rules
Your investment, your rules

Just make it sure that you wont really be having those kind of regrets on the time that you would really be able to face up those kind of regrets in the end of the line. Choices could really be giving out
that negative or positive outcomes on which it would really be that basing up on the things that you've been doing or the decisions that you have made on.Investing should really be taken carefully
and not really that in a rush manner because if you are really that having that kind of doubts then you should take up some pause and think up carefully whether you could be able to bare up with the risks
or not. Investing with Bitcoin? Then it would be depending on you whether you would be holding or would be actively be trading on it.

Regrets and wrong decisions are  t here. It would really be just that normal mistakes are there but the key on here is that whenever you do touch up this crypto space
which it isnt really that limited to Bitcoin but also in other coins as well then it would be always best that you should really expect those unexpected things to happen.

[Oasisman]

The situation changes from person to person, but in my opinion people don't invest for the thrill but because they believe in it, given that bitcoin was born and has had great success in the world.

Pretty much anything you put your money into it means you believe in it, basically. Most people invest in bitcoin because of its high volatility, that could potentially bring fortune to anyone when it hits another ACH.
The thrilling roller coaster ride of bitcoin price is just part of those many factors that could affect your emotions as well as the market sentiments. So, yeah the reaction of each individual invested in bitcoin will be different from each other, the more experienced the person in crypto space the lesser emotional reaction he'd make during price fluctuations.

[SeriouslyGiveaway]

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill?

Honestly, I participate in investing for profit, but consider technology as a criterion to choose what is a good investment for me. With Bitcoin, there is no need to consider, technological factors may not need to be considered, but with ALtcoin it is a different story. You must consider technological factors to choose which Altcoin is worth investing in, and which technology will lead the story for the next bull cycle. There are many Altcoins whose technology is no longer suitable for the next growth cycle, such as anonymous ALtcoins like Dash, Monero... Honestly, when investing in Bitcoin, my mentality is extremely comfortable, don't have to worry much, even though sometimes Bitcoin has large corrections of 20-30%, but I'm still confident the price will soon recover and grow again. However, with ALtcoin there is another story, always has a certain amount of anxiety when investing. Therefore, my investment portfolio always prioritizes the majority of the portfolio for Bitcoin, only a few for Altcoins.

[Litzki1990]

We invest and we hold our investments for a long period of time only with the intention of getting a good amount of money from these investments in the future. Those who trade with different coins along with investment, their objective is to make profit, that is, some trade for relatively low profit and some invest for relatively high profit, but the objective of all is the same. No investor invests for profit but everyone invests for profit. Investing for profit is very natural because we are putting money at risk if we don't expect some profit then what do we expect. Although everyone expects profit, there are some differences here, the difference is that someone who invests without understanding anything to get rich overnight is definitely a misconception of the investor. But those who do not invest with the aim of getting rich overnight but invest with proper understanding of the market are more likely to meet their expectations from their investment and they are definitely investing in the right way, no doubt.

[Hypnosis00]

What are your thoughts on this ~ Let's discuss

Nothing has changed, people are buying Bitcoin for the sake of making money. They will take risks, - buy, hold, and sell them.
What brings people to invest in Bitcoin is because of its profit potential. People are investing in Bitcoin believing that this would give more wealth to the rich and a better life for the poor. In fact, when someone talks about investing in Bitcoin, many will then say he/she is rich. I don't know where they got that idea but most of us think that all Bitcoin investors have a better future. There is optimism and hope, and that somewhat makes others think why not try this? Ain't no regret form doing this, it is an opportunity and we know it was a good investment.

[Nrcewker]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

Definitely if you take more stress, then obviously you will make more mistakes while trading in Bitcoins. Bitcoins are the best coins present in the market. We all know that. So if we start taking unnecessary tension for this, then it will only harm us only. Psychology really plays an important role, but I would say, you need to keep your goals clean before investing. Don’t greed for more, and just accumulate the coins regularly. After the bull run, definitely you will make profits.

[Magic-Money]

When it come for Bitcoin investment they are something motivate someone to be a part and the matter of the time or price difference to compare in previous years of Bitcoin price increases and have to work in psychology to believe that Bitcoin price we still keep increasing as times goes on and is a profitable business that has no stress or any Bill attached while holding for long or short period of time.

[0t3p0t]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

Well, this is for me some sort of personal preferrence when it comes to choosing the right path whether we are here for the tech, the profits and or the thrill it brought to us. Since I am in a lower class of social status I am here because of the fact that Bitcoin may gave me and my family the chance to achieve financial freedom which I think is also what most of us here are dreaming of.

[yudi09]

-snip-

What are your thoughts on this ~ Let's discuss

I think it's too complicated to think about too many terms that appear in the investment world. If we want to invest and the goal is only to get a profit from the type of investment we are going to make, then it is enough to understand what the purpose of investment is, types of investment and how to invest.

For people who want to use Bitcoin as an investment asset, understand what Bitcoin is and how Bitcoin works and what benefits you will find if you invest in Bitcoin. After that, learn to understand when to buy and when to let go. One more thing, how to keep Bitcoin assets safe after purchasing them. This way, it won't make us dizzy because we keep thinking about terms that disturb our minds.